BlackRock Results Presentation Deck

7% 7% $81 Q4 2017 6% $55 7% $55 Q1 2018 19% 15% $35 4% BlackRock. 4% $14 Q2 2018 10% $18 Total long-term 3% 3% $11 2% 9% 2% $34 $44 Q3 Q4 Q1 2018 2018 2019 2% iShares ETFs 10% 1% $81 $59 9% Long-term net flows ($ in billions) $31 4% 2% $125 Q2 2019 10% $36 5% Q2 2019 3% $52 Q3 2019 $42 6% 5% Q3 2019 $99 10% 11% Q4 2019 $75 6% $11 Q4 2017 2% $12 $2 7% Q4 2017 $17 2% 7% Q1 Q2 2018 2018 $5 $10 $(7) Q4 Q2 Q3 Q4 Q1 Q1 2017 2018 2018 2018 2018 2019 Q4 2019 Q1 Q2 2018 2018 LTM organic asset growth rate (%) LTM organic base fee growth rate (%) Note: LTM organic asset growth rate measures rolling last twelve months net flows over beginning of period assets. 1% $5 $(14) 6% $2 Institutional Active 0% Retail 3% $(3) Q3 Q4 2018 2018 Institutional Q3 2018 (2)% $(1) $(8) $(24) 0% $(27) Q4 2018 $(1) Q1 2019 (1)% 0% $14 $15 $2 2% 0% $7 $73 Q2 Q3 Q4 2019 2019 2019 Institutional Index $14 3% $8 3% $(4) $8 4% $1 $15 Q1 Q2 Q3 Q4 2019 2019 2019 2019 2

View entire presentation