Blackstone Infrastructure Advisors LLC

Item 5 – Fees and Compensation
affiliates, their personnel, or Other Blackstone Clients and their Portfolio Entities, in addition to
or in lieu of the Funds. To the extent that such fees, costs and/or expenses are specific to a
particular investment (such as due diligence), and such investment is ultimately consummated
in whole or in part by one or more Other Blackstone Clients, the Advisor expects to allocate a
portion of such fees, costs and/or expenses attributable to such investment that would
otherwise be borne by the Funds to the Other Blackstone Clients ultimately consummating such
investment. Additionally, to the extent a potential investment has been formally allocated to an
Other Blackstone Client instead of the Funds by a determination of the investment committee,
as the case may be, instead of the Funds and such investment is not ultimately consummated,
such Other Blackstone Client is expected to bear the portion of such fees, costs and/or
expenses attributable to such potential investment (it being understood that to the extent no
such formal allocation decision has been made, the Funds will bear the portion of the retainer
attributable to such potential investment) (See “Broken Deal Expenses” in item 10 herein). The
formal allocation decision is typically made shortly prior to signing or committing to an
Investment and may result in substantial amounts of broken deal expenses being borne by the
Funds, even if it was anticipated that such potential investment might be formally allocated to
an Other Blackstone Client instead of the Funds. Conflicts exist in the allocation of the costs and
benefits of these arrangements, and Fund investors rely on the Advisor to handle them in its
sole discretion, and there can be no assurance that the Advisor will resolve such conflicts of
interest in a manner that is favorable to the Fund investors or the Funds.

Blackstone Infrastructure Advisors L.L.C.

Item 7 – Types of Clients
The Advisor manages the Funds. The Funds’ investors may consist of some or all of the
following:

      Banks and other financial institutions
      Insurance companies
      Investment companies
      Public and private retirement and pension plans
      Public and private profit-sharing plans
      Trusts and estates
      Charitable organizations and foundations, including endowment funds thereof
      State and municipal government agencies
      Sovereign wealth funds
      Private investment funds
      Corporations
      Business entities other than those listed above
      High net worth individuals
      Certain other individuals (and/or their individual retirement accounts)
      Family offices
Investors also include other funds, vehicles and/or accounts managed by affiliates of Blackstone
(including the BTAS Funds, BXCI Funds and Strategic Partners Funds (each as defined herein)).

All investors are subject to applicable suitability requirements. The Advisor and the General
Partners require that each U.S. investor in the Funds be an “accredited investor” as defined in
Regulation D under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and that
each investor in the Funds be a “qualified purchaser” as defined in Section 2(a)(51) of the U.S.
Investment Company Act of 1940, as amended, and meet other suitability requirements
(including, in some circumstances, requirements applicable to a person that is not a U.S. Person
as defined in Regulation S under the Securities Act).

Generally, investors must invest a minimum dollar amount as determined in the applicable
General Partner’s sole discretion. Each General Partner reserves the right, in its sole discretion,
to waive the minimum dollar amount.

Blackstone Infrastructure Advisors L.L.C.