Growth and Transition Strategy Update

iShares generated high single-digit organic revenue growth, driven by strategic product segments iShares ETF product segments: Strategic ETF segments . Enabling clients to efficiently access: An expanding universe of Fixed Income exposures Sources of return from active risk benchmarks (Factor, Sustainable/Transition, Thematic) 18 bps $3.1T- $5.7B $1.1B 8% organic revenue growth 5 17 bps 37% 35% 60% 14% Core equity ETFs 15% 8 bps Serves buy-and-hold clients with low cost ETFs 33% Grows assets and revenues 13% 7% Precision ETFs 50% 31 bps . • Targeted, liquid exposures for tactical allocators Market-driven growth 30% 27% 4% Note: For footnoted information, refer to slide 54. BlackRock 1 AUM 2 Effective Revenue fee rate 3 4 3Y organic revenue growth 45

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