BlackRock Investor Day Presentation Deck

Consistent capital management policy to invest first and then return cash to shareholders Prioritization of cash use Organic business investments G&A Dividends Headcount Tactical acquisitions & strategic minority investments Share repurchases Note: For footnoted information, refer to slide 135. BlackRock Seed & Co-invest Cash payout & payout ratio ¹,2 (Figures in $B) 84% $3.6 2018 84% $3.8 2019 76% $3.8 2020 Dividends and share repurchases 63% $3.7 2021 94% $4.9 2022 -Payout ratio 126

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