Investing to Deliver Shareholder Value

IRH1221U/M-1946957-1/20 Outperformance is a result of our diversified platform Effective Fee Rates (bps)¹ 20 3-Year Avg Organic Base Fee Growth Rates² 18% 00 8 34 27 74 13 4 22% 18% 17% 7% 6% 2% Core 2% Strategic Equity Precision ETFs Traditional Active4 Illiquid Cash Non- Alts Tech5 ETF Index % Contribution to 2020 Revenue³ 32% 43% 4% 5% 8% 8% Note: For footnoted information, refer to slides 14-15. BlackRock 5

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