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Strata Clean Energy Partners with Blackstone to Fund Utility Scale Solar and Battery Storage Development

Durham, N.C. – Strata Clean Energy(Strata) announced that it has entered into an agreement with
Blackstone (NYSE:BX) through Blackstone Credit and its affiliates to provide Strata with $150
million of capital to help fund development, construction and ownership of utility scale solar and
storage assets across North America. Strata is a leading provider of utility-scale solar and
battery-energy-storage systems with 400+ employees and has installed more than 2.5 GW of
capacity over the past 10+ years. The funding provided by Blackstone, together with existing
capital sources, will help enable Strata to fund its development capital needs for the next
several years.

“We are excited to enter into this strategic partnership with Blackstone, a leader in providing
flexible and large-scale capital solutions to the renewable energy industry,” said Markus
Wilhelm, Chief Executive Officer of Strata. “This partnership positions us exceptionally well to
continue to provide high quality, turnkey solutions to our utility and corporate partners.”
“Strata has an exceptional track record in providing high quality projects for their customers,”
said Robert Horn, Senior Managing Director and Co-Head of Energy for Blackstone Credit. “We
are delighted to begin a long-term partnership with Strata that we believe will help accelerate
their growth and provide capital for the development of clean energy projects across North

Blackstone was advised by Watt Asset Management, LP and King and Spalding, and Strata was
advised by Nixon Peabody.

Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal
securities laws. Forward-looking statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar expressions concerning matters
that are not historical facts. In some cases, you can identify forward-looking statements by the
use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and
phrases or similar words or phrases that are predictions of or indicate future events or trends
and that do not relate solely to historical matters. Forward-looking statements involve known
and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond
Blackstone’s control, which may cause actual results to differ significantly from those expressed
in any forward-looking statement. All forward-looking statements reflect Blackstone’s good faith
beliefs, assumptions and expectations, but they are not guarantees of future performance.
Furthermore, Blackstone disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying assumptions or factors, of new
information, data or methods, future events or other changes. For a further discussion of these
and other factors that could cause Blackstone’s future results to differ materially from any
forward-looking statements, see the section entitled “Risk Factors” in Blackstone’s Annual
Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other
risks described in documents subsequently filed by Blackstone from time to time with the SEC.

About Strata Clean Energy
Strata Clean Energy is a leading provider of utility-scale solar and battery-energy-storage systems.
Strata currently has an installed capacity of over 2.5GW in solar developments, 4.7GW in the
battery storage development pipeline, and over 3GW in its O&M portfolio. The company's
vertically-integrated approach, which includes development, financing, engineering,
procurement, construction, and operations and maintenance, allows Strata to consistently
develop and build highly profitable, clean-energy projects for clients with long-term ownership in

About Blackstone Credit
Blackstone Credit is the credit division of Blackstone, one of the world’s leading investment
firms. Blackstone Credit is one of the largest credit-focused asset managers, with $154 billion in
AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the
entire corporate credit market, from public debt to private loans. Our capital supports a wide
range of companies across sectors and geographies, enabling businesses to expand, invest,
and navigate changing market environments. Over the past decade, Blackstone has acquired,
built or financed renewable energy assets representing a total enterprise value of over $13