Blackstone Mortgage Trust, Inc. February 14, 2017 Fourth Quarter and Full Year 2016 Results Confidential Exhibit 99.2

Loan Originations Origination volume of $826 million in 4Q bringing total for 2016 to $3.5 billion Continued focus on low LTV opportunities: 65% average in 4Q 2016 originations: 100% floating rate, senior mortgage loans Earnings & Dividends 4Q EPS of $0.57 and Core Earnings(a) of $0.62 per share 2016 EPS of $2.53 and Core Earnings of $2.65, up 12% year over year 4Q dividend of $0.62 per share equates to an 8.2% dividend yield(b) Fourth Quarter and Full Year 2016 Highlights Portfolio Composition Balance Sheet Interest Rates $9.8 billion portfolio,(c) up $412 million(d) from prior quarter 107 loans with a weighted average origination LTV of 61% $3.0 billion of the $4.9 billion of loans acquired from GE have repaid, and GE loans now comprise 17% of the total portfolio, down from 44%(e) after the acquisition Debt-to-Equity ratio(f) of 2.3x; match funded long-term leverage Liquidity of $654 million;(g) origination capacity of $2.5 billion(h) Added $2.0 billion of new financing capacity including ‘swingline’ corporate liquidity facility Information included in this presentation is as of or for the period ended December 31, 2016, unless otherwise indicated. See Appendix for a definition and reconciliation to GAAP net income Based on annualized dividend and BXMT closing price as of December 31, 2016 Includes $1.0 billion of Non-Consolidated Senior Interests, see Appendix for definition Excludes the impact of changes in foreign currency rates and hedges for non-USD loans and financings As of June 30, 2015 Represents (i) total outstanding secured debt agreements and convertible notes, less cash, to (ii) total stockholders’ equity Total liquidity includes $76 million of cash and $578 million of available borrowings Potential loan originations assumes 4.0x asset-level leverage on total liquidity, net of $153 million of minimum liquidity requirements under applicable debt covenants 89% of the portfolio is floating rate, up 13% from 2015 Core Earnings are positively correlated to changes in USD LIBOR; a 1.0% increase would increase net interest income by $0.19 per share per annum

$0.67 $0.71 Earnings & Dividends 4Q GAAP earnings of $0.57 per share and Core Earnings(a) of $0.62 per share 2016 GAAP earnings of $2.53 per share and Core Earnings of $2.65 per share, up 12% from 2015 2016 is second consecutive year of Core Earnings dividend coverage 4Q Core Earnings of $58 million and 2016 Core Earnings of $249 million generated entirely by portfolio lending business In 3Q 2015, BXMT revised the basis of reporting for Core Earnings to be net of incentive fees. Core EPS numbers indicated in the chart for 3Q 2014, 4Q 2014 and 1Q 2015 are adjusted from the previously reported $0.50, $0.52 and $0.54, respectively, so as to be comparable to Core EPS numbers in 3Q 2015 and subsequently. See appendix for reconciliation to net income per share for each period represented. Includes $0.11 of transaction expenses related to the GE acquisition Quarterly Dividends $0.28 $0.41 $0.43 $0.43 Core EPS $0.49 $0.50 $0.52 $0.38 $0.72 $0.68 $0.65 (b) (a) $0.62 2016 - 107% coverage 2015 - 101% coverage

Loan Originations $826 million of total originations in the quarter, bringing total for 2016 to $3.5 billion 2016 originations were 100% floating rate senior mortgage loans with continued focus on large loans ($139 million average) and major markets 77% of 2016 originations ($2.4 billion, 15 loans) were collateralized by office properties (42% NY, 27% CA) 93% of 2016 originations were collateralized by properties in North America 100% floating rate 100% senior loans ü ü Average origination LTV(a) of 60% Average loan size of $139 million ü ü 2016 Originations Reflects LTV as of the date loans were originated or acquired by BXMT $3.5 bn 2016 Originations Office Multi- family Retail Hotel Other

Portfolio Composition $9.8 billion portfolio, up $412 million(a) from prior quarter, comprising 107 senior loans secured by institutional quality real estate in North America (83%) and Europe (17%) $3.0 billion of the $4.9 billion of loans acquired from GE have repaid and a further $817 million have been upsized or modified. Loans acquired from GE comprise 17% of the total portfolio, down from 44%(b) after the acquisition. Office Multifamily Hotel Condo Other Retail Manufactured Housing Geographic Diversification (Total Loan Exposure, % of Total) Collateral Diversification (Total Loan Exposure, % of Total) Loan to Value(a) BXMT Loans Sponsor Equity 60% 100% Average LTV Excludes the impact of changes in foreign currency rates and hedges for non-USD loans and financings As of June 30, 2015 Reflects LTV as of the date loans were originated or acquired by BXMT (b) Origination LTV(c) (Total Loan Exposure, Weighted Average) 61% States that comprise less than 1% of total loan portfolio CAN 5% CA 17% WA 2% HI 2% DC 2% TX 2% VA 2% GA 4% IL 7% FL 10% UK 13% DEU 3% OR 1% AZ 1% CO 1% MD 1% NC 1% NL 1% NY 25%

Balance Sheet Outstanding asset-level financing is long term with an average all-in cost of L+2.04% Credit facility capacity increased $1.3 billion(a) over the year, up 29% Liquidity of $654 million: $76 million cash, $541 million revolving credit facility availability and $36 million swingline revolver availability Asset- Level Financing Capacity ($ in billions) Leverage 2.3x Debt-to-Equity Ratio(c) 2.9x Total Leverage Ratio(d) Credit Facilities All-in cost of L+2.02% Asset-Specific Financings All-in cost of L+2.06% Corporate Debt Convertible Notes: 5.87% Secured Facility: L+2.75% Total Debt Senior Loan Interests(b) Pricing directly related to underlying collateral assets Total Leverage $3.6 $2.2 $0.2 $1.4 $6.0 $7.4 Credit Facilities GE Acquisition Facility Asset-Specific Financing Excludes the impact of changes in foreign currency rates and hedges for non-USD loans and financings In addition to $350 million of loan participations sold, includes $1.0 billion of Non-Consolidated Senior Interests, which result from non-recourse sales of senior loan interests in loans BXMT originates. BXMT’s net investments in these loans are reflected in the form of mezzanine or other subordinate loans on BXMT’s balance sheet. Represents (i) total outstanding secured debt agreements, convertible notes, less cash, to (ii) total stockholders’ equity Represents (i) total outstanding secured debt agreements, convertible notes, loan participations sold, and non-consolidated senior interests, less cash, to (ii) total stockholders’ equity Senior Loan Interests $4.3 $0.6 $3.3 $1.8 $5.5 $1.5 $1.7 $0.9 2015 2016

Interest Rates Core Earnings are positively correlated to changes in USD and GBP LIBOR, the benchmark indices for 85% of BXMT’s total loan exposure and related secured financings(a) A 1.0% increase in USD LIBOR would increase net interest income per share by $0.19 per annum, $0.12 greater than in 2015 Core Earnings are inversely correlated to EURIBOR and CDOR such that an increase of 50bps in either would decrease net interest income per share by less than $0.01 per year As of December 31, 2015, $148 million of floating rate loans earned interest based on floors that were above the applicable index, with an average floor of 1.80%, based on total loan exposure As of December 31, 2016, $216 million of floating rate loans earned interest based on floors that were above the applicable index, with an average floor of 1.27%, based on total loan exposure Portfolio Income Sensitivity to USD LIBOR (Annual Dollars of Net Interest Income Per Share) Net Interest Income Per Share USD LIBOR Increasing USD LIBOR – Increasing Income Portfolio Fixed vs. Floating (% of Total Loan Exposure) Floating(b) 76% Fixed 24% Floating(c) 89% Fixed 11% 2015 2016

Appendix

Appendix – Fourth Quarter 2016 Operating Results & Net Funding $0.62 Core Earnings Per Share $412 million(a) Net Funding Net Funding ($ in Billions) Operating Results ($ in Millions) $865 million four MHC loans from a single sponsor $9.4 $0.9 $(0.5) $9.8 Excludes the impact of changes in foreign currency rates and hedges for non-USD loans and financings $0.57 Net Income Per Share

Loan Portfolio Details ________________________________________________ Footnote. Date loan was originated or acquired by BXMT, and the LTV as of such date In certain instances, loans are financed through the non-recourse sale of a senior loan interest that is not included in the consolidated financial statements. As of December 31, 2016, four loans in the portfolio have been financed with an aggregate $1.0 billion of Non-Consolidated Senior Interests, which are included in the table above. Maximum maturity assumes all extension options are exercised; however, floating rate loans generally may be repaid prior to their final maturity without penalty Consists of both floating and fixed rates. Coupon and all-in yield assume applicable floating benchmark rates for weighted-average calculation. ($ in Millions) Loan Type Origination Date (a) Total Loan (b) Principal Balance (b) Net Book Value Cash Coupon All-In Yield Maximum Maturity (c) Location Property Type Loan Per SQFT / Unit / Key Origination LTV (a) Loan 1 Senior loan (b) 5/15/2015 590 $ 484 $ 82 $ L+4.25% L+4.78% 5/15/2020 Miami Retail 613 / sqft 36% Loan 2 Senior loan (b) 8/6/2015 455 455 82 4.48% 6.07% 10/29/2022 Diversified - EUR Other n/a 71% Loan 3 Senior loan 5/22/2014 420 420 416 L+4.20% L+4.48% 12/31/2019 Diversified - UK Hotel 113,610 / key 59% Loan 4 Senior loan 5/1/2015 320 295 293 L+3.45% L+3.83% 5/1/2020 New York Office 374 / sqft 68% Loan 5 Senior loan 1/7/2015 315 284 283 L+3.50% L+3.88% 1/9/2020 New York Office 245 / sqft 53% Loan 6 Senior loan 6/4/2015 259 259 262 L+4.34% L+4.11% 8/11/2020 Diversified - CAN Hotel 40,016 / key 54% Loan 7 Senior loan (b) 6/30/2015 250 240 47 L+4.75% L+5.18% 7/9/2020 San Francisco Condo 758 / sqft 66% Loan 8 Senior loan 6/23/2015 224 213 212 L+3.65% L+3.76% 10/1/2020 Washington DC Office 240 / sqft 72% Loan 9 Senior loan 7/31/2014 215 193 193 L+3.50% L+3.57% 8/9/2019 Chicago Office 258 / sqft 65% Loan 10 Senior loan 6/23/2015 193 193 193 5.38% 5.38% 1/18/2017 Diversified - GER Retail 58 / sqft 53% Loan 11 Senior loan 8/19/2016 200 188 187 L+3.64% L+4.10% 9/9/2021 New York Office 558 / sqft 69% Loan 12 Senior loan 8/3/2016 276 183 181 L+4.66% L+5.18% 8/9/2021 New York Office 252 / sqft 57% Loan 13 Senior loan 4/15/2016 200 179 178 L+4.25% L+4.86% 5/9/2021 New York Office 165 / sqft 40% Loan 14 Senior loan 12/22/2016 205 171 169 L+3.50% L+4.07% 1/9/2022 New York Office 241 / sqft 66% Loan 15 Senior loan 8/17/2016 187 169 167 L+3.75% L+4.13% 9/9/2021 San Francisco Office 488 / sqft 65% Loan 16-107 Various Various 6,435 5,831 5,748 4.88% 5.26% (d) Various Various Various Various 62% Total/Wtd. Avg. 10,744 $ 9,757 $ 8,693 $ 4.82% 5.24% 3.3 years 61%

Consolidated Balance Sheets ($ in Thousands, Except Per Share Data) December 31, 2016 December 31, 2015 Assets Cash and cash equivalents 75,567 $ 96,450 $ Restricted cash — 9,556 Loans receivable, net 8,692,978 9,077,007 Equity investment in unconsolidated subsidiary — 9,441 Other assets 44,070 184,119 Total assets 8,812,615 $ 9,376,573 $ Liabilities and equity Secured debt agreements, net 5,716,354 $ 6,116,105 $ Loan participations sold, net 348,077 497,032 Convertible notes, net 166,762 164,026 Other liabilities 87,819 93,679 Total liabilities 6,319,012 6,870,842 Commitments and contingencies — — Equity Class A common stock, $0.01 par value 945 937 Additional paid-in capital 3,089,997 3,070,200 Accumulated other comprehensive loss (56,202) (32,758) Accumulated deficit (541,137) (545,791) Total Blackstone Mortgage Trust, Inc. stockholders’ equity 2,493,603 2,492,588 Non-controlling interests — 13,143 Total equity 2,493,603 2,505,731 Total liabilities and equity 8,812,615 $ 9,376,573 $

Consolidated Statements of Operations ($ in Thousands, Except per Share Data) Three Months Ended December 31, Year Ended December 31, Three Months Ended December 31, 2016 2015 2016 2015 Income from loans and other investments Interest and related income 116,288 $ 128,386 $ 497,974 $ 410,635 $ Less: Interest and related expenses 44,451 46,292 184,270 152,416 Income from loans and other investments, net 71,837 82,094 313,704 258,219 Other expenses Management and incentive fees 12,798 14,351 55,959 42,886 General and administrative expenses 6,726 8,053 27,716 36,709 Total other expenses 19,524 22,404 83,675 79,595 Gain (loss) on investments at fair value 6 (141) 13,420 21,967 Income from equity investments in unconsolidated subsidiaries 995 6,121 3,187 11,798 Income before income taxes 53,314 65,670 246,636 212,389 Income tax (benefit) provision (85) 73 196 504 Net income 53,399 $ 65,597 $ 246,440 $ 211,885 $ Net income attributable to non-controlling interests (24) (333) (8,143) (15,056) Net income attributable to Blackstone Mortgage Trust, Inc. 53,375 $ 65,264 $ 238,297 $ 196,829 $ Per share information (basic and diluted) Weighted-average shares of common stock outstanding 94,455,518 93,574,127 94,165,351 81,740,227 Net income per share of common stock 0.57 $ 0.70 $ 2.53 $ 2.41 $

Per Share Calculations (Amounts in Thousands, Except per Share Data) Core Earnings Reconciliation Book Value per Share Earnings per Share Represents net income attributable to Blackstone Mortgage Trust Adjustment in respect of the deferral in Core Earnings of the accretion of a total $9.1 million of purchase discount attributable to a certain pool of GE portfolio loans pending the repayment of those loans Three Months Ended December 31, 2016 September 30, 2016 Net income 53,375 $ 64,794 $ CT Legacy Portfolio net income (502) (1,805) Non-cash compensation expense 4,955 4,949 GE purchase discount accretion adjustment (b) (320) (929) Other items 742 (65) Core Earnings 58,250 $ 66,944 $ Weighted-average shares outstanding, basic and diluted 94,456 94,072 Core Earnings per share, basic and diluted 0.62 $ 0.71 $ December 31, 2016 September 30, 2016 Stockholders’ 2,493,603 $ 2,503,694 $ Shares Class A common stock 94,540 93,913 Deferred stock units 169 162 Total outstanding 94,709 94,075 Book value per share 26.33 $ 26.61 $ Three Months Ended December 31, 2016 September 30, 2016 Net income 53,375 $ 64,794 $ Weighted-average shares outstanding, basic and diluted 94,456 94,072 Earnings per share, basic and diluted 0.57 $ 0.69 $ (a) (a) equity

Reconciliation of Net Income to Core Earnings(a) In 3Q 2015, BXMT revised the basis of reporting for Core Earnings to be net of incentive fees. Core EPS numbers indicated in the chart for 3Q 2014, 4Q 2014 and 1Q 2015 are adjusted from the previously reported $0.50, $0.52 and $0.54, respectively, so as to be comparable to Core EPS numbers in 3Q 2015 and subsequently. Represents net income attributable to Blackstone Mortgage Trust Adjustment in respect of the deferral in Core Earnings of the accretion of a total $9.1 million of purchase discount attributable to a certain pool of GE portfolio loans pending the repayment of those loans (Amounts in Thousands, Except per Share Data) Three Months Ended Sep 30, 2013 Dec 31, 2013 Mar 31, 2014 Jun 30, 2014 Sep 30, 2014 Dec 31, 2014 Mar 31, 2015 Jun 30, 2015 Sep 30, 2015 Dec 31, 2015 Mar 31, 2016 Jun 30, 2016 Sep 30, 2016 Dec 31, 2016 Net income 8,320 $ 7,079 $ 13,065 $ 33,466 $ 22,024 $ 21,490 $ 35,393 $ 29,284 $ 66,888 $ 65,264 $ 57,047 $ 63,081 $ 64,794 $ 53,375 $ CT Legacy Portfolio net (income) loss (437) 3,670 970 (15,508) (134) 4,833 (8,400) (1,857) (401) (3,408) 183 (3,825) (1,805) (502) Non-cash compensation expense 94 1,158 1,834 2,382 1,619 2,528 3,297 3,396 3,188 3,460 4,687 4,836 4,949 4,955 GE purchase discount accretion adjustment - - - - - - - (459) (2,008) (1,542) (1,166) (1,247) (929) (320) Other items - 107 423 162 404 408 342 416 (119) 310 418 278 (65) 742 Core Earnings 7,977 $ 12,014 $ 16,292 $ 20,502 $ 23,913 $ 29,259 $ 30,632 $ 30,780 $ 67,548 $ 64,084 $ 61,169 $ 63,123 $ 66,944 $ 58,250 $ Weighted-average shares outstanding, basic and diluted 28,895 29,364 37,967 47,978 49,211 58,190 58,576 80,941 93,358 93,574 94,068 94,064 94,072 94,456 Net income per share, basic and diluted 0.29 $ 0.24 $ 0.34 $ 0.70 $ 0.45 $ 0.37 $ 0.60 $ 0.36 $ 0.72 $ 0.70 $ 0.61 $ 0.67 $ 0.69 $ 0.57 $ 0.28 $ 0.41 $ 0.43 $ 0.43 $ 0.49 $ 0.50 $ 0.52 $ 0.38 $ 0.72 $ 0.68 $ 0.65 $ 0.67 $ 0.71 $ 0.62 $ Year Ended Dec 31, 2015 Dec 31, 2016 Net income 196,829 $ 238,297 $ CT Legacy Portfolio net income (14,066) (5,949) Non-cash compensation expense 13,341 19,427 GE purchase discount accretion adjustment (4,009) (3,662) Other items 949 1,373 Core Earnings 193,044 $ 249,486 $ Weighted-average shares outstanding, basic and diluted 81,740 $ 94,165 $ Net income per share, basic and diluted 2.41 $ 2.53 $ Core Earnings per share, basic and diluted 2.36 $ 2.65 $ (b) (b) (c) (c) Core Earnings per share, basic and diluted

Definitions Core Earnings: Blackstone Mortgage Trust, Inc. (“BXMT”) discloses Core Earnings, a financial measure that is calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles in the United States of America (“GAAP”) in this presentation. Core Earnings is an adjusted measure that helps BXMT evaluate its performance excluding the effects of certain transactions and GAAP adjustments that it believes are not necessarily indicative of its current loan origination portfolio and operations. Although according to its management agreement BXMT calculates the incentive and base management fees due to its Manager using Core Earnings before incentive fees expense, beginning with the third quarter of 2015, BXMT reports Core Earnings after incentive fees expense, as BXMT believes this is a more meaningful presentation of the economic performance of its class A common stock. Core Earnings is defined as GAAP net income (loss), including realized gains and losses not otherwise included in GAAP net income (loss), and excluding (i) net income (loss) attributable to the CT Legacy Portfolio, (ii) non-cash equity compensation expense, (iii) depreciation and amortization, (iv) unrealized gains (losses), and (v) certain non-cash items. Core Earnings may also be adjusted from time to time to exclude one-time events pursuant to changes in GAAP and certain other non-cash charges as determined by BXMT’s manager, subject to approval by a majority of its independent directors. Core Earnings does not represent net income or cash generated from operating activities and should not be considered as an alternative to GAAP net income, or an indication of BXMT’s GAAP cash flows from operations, a measure of BXMT’s liquidity, or an indication of funds available for its cash needs. In addition, BXMT’s methodology for calculating Core Earnings may differ from the methodologies employed by other companies to calculate the same or similar supplemental performance measures, and accordingly, its reported Core Earnings may not be comparable to the Core Earnings reported by other companies. Non-Consolidated Senior Interests: Senior interests in loans originated and syndicated to third parties. These non-recourse loan participations constitute additional financing capacity and are included in discussions of the loan portfolio.

Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect BXMT’s current views with respect to, among other things, BXMT’s operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. BXMT believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as such factors may be updated from time to time in its periodic filings with the Securities and Exchange Commission (“SEC”) which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in the filings. BXMT assumes no obligation to update or supplement forward‐looking statements that become untrue because of subsequent events or circumstances.