BlackRock Results Presentation Deck

Operating Income GAAP Non-GAAP expense adjustments Reconciliation between GAAP and as adjusted ($ in millions) As Adjusted Nonoperating Income (Expense) GAAP Non-GAAP adjustments As Adjusted Net Income GAAP Non-GAAP adjustments As Adjusted BlackRock. 2020 $ 1,848 $ Q4 $ 29 319 $ 1,877 $ 1,599 (192) 127 $ 1,548 47 $ $ 1,595 $ Q1 $ 1,545 54 (74) $ 1,199 Q2 (28) $ 41 2021 $1,931 $ 1,935 $ 2,039 85 46 $ 270 $ 336 $ $ 2,016 $ 2,025 Q3 (169) 90 $1,378 $ 236 (72) 101 $ 264 $ Q4 $ 2,107 69 68 71 11 82 1,681 $ 1,643 7 $ 1,240 $ 1,614 $ 1,750 $ 1,650 Q1 $ 1,764 58 $ (138) $ 73 $ (65) $ $ 1,436 Q2 $ 1,668 $ 26 2022 $ 1,822 $ 1,727 $ 1,585 59 (347) $ 114 (233) $ Q3 1,526 45 59 165 45 210 $ 1,077 $ 1,406 45 $ $ Q4 LA 1,427 $ 1,577 150 225 (48) 177 $ 1,259 97 $ 1,462 $ 1,122 $ 1,451 $ 1,356 Beginning in the first quarter of 2022, BlackRock updated the definitions of operating income, as adjusted, operating margin, as adjusted, and net income attributable to BlackRock, Inc., as adjusted. Such measures have been recast for 2021 and 2020 to reflect the inclusion of such new adjustments. Non-GAAP adjustments include amounts related to (i) a restructuring charge (ii) amortization of intangible assets, (iii) acquisition-related compensation costs, (iv) contingent consideration fair value adjustments, (v) Lease cost - Hudson Yards and (v) noncash income tax matters, as applicable. For further information and reconciliation between GAAP and as adjusted, see notes (1) and (2) in the current earnings release as well as previously filed Form 10-Ks, 10-Qs and 8-Ks. 13

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