BlackRock Results Presentation Deck

$2,190 Q3 2019 54% $(4) G&A (1) 1% 17% $(1) BlackRock. 10% 18% $18 Amortization Direct fund of intangible expense assets Quarterly expense, as adjusted ($ in millions) Q3 2020 compared to Q3 2019 $422 ■ Employee comp. & benefits $29 Distribution & servicing costs Distribution & servicing costs Direct fund expense General & administration Amortization of intangible assets $83 Product launch costs and comissions $297 $2,612 Percentage Change Employee Q3 2020 comp. & benefits (1) Employee comp. & benefits Distribution & servicing costs Direct fund expense General & administration Amortization of intangible assets Total Q2 2020 (1) Amounts exclude product launch costs and commissions incurred in Q3 2020, which are presented separately. $2,242 $(7) $11 $27 ¶¶ Year-over-Year Sequential 27% 22% 7% 6% 8% 4% 20% 19% -% G&A (1) Direct fund expense (4)% Q3 2020 compared to Q2 2020 $370 19% Distribution & servicing costs 17% $83 Product launch costs and commissions $256 Employee comp. & benefits (1) $2,612 Q3 2020 8

View entire presentation