BlackRock Results Presentation Deck

Operating Income GAAP Non-GAAP expense adjustments As Adjusted Nonoperating Income (Expense) GAAP Non-GAAP adjustments As Adjusted Net Income Reconciliation between GAAP and as adjusted ($ in millions) GAAP Non-GAAP adjustments As Adjusted BlackRock. Q1 $ 1,545 $ 54 Q2 (74) 2021 $ 1,599 $ 2,016 85 41 $ 1,931 $ 1,935 $ 2,039 46 $ 270 $ 336 $ (169) Q3 $ (28) $ 101 $ 90 236 $ 2,025 $ 2,107 (72) 264 $ Q4 69 68 $ 1,240 $1,614 $ 1,750 $ 1,199 $1,378 $ 1,681 $ 1,643 71 11 82 7 Q1 $ 1,764 $ 58 $ (138) $ 73 $ (65) $ $ 1,822 $ 1,727 $ 1,436 $ Q2 26 2022 1,668 59 (347) $ 114 (233) $ Q3 45 1,526 $ 1,585 59 165 $ 45 210 1,077 $ 1,406 45 Q4 1,427 150 1,577 (48) $ 1,259 $ 177 $ 97 2023 225 $ 116 $1,650 $ 1,462 $ 1,122 $ 1,451 $ 1,356 Q1 $ 1,438 73 $ 1,511 (29) 87 $ 1,157 43 $ 1,200 Beginning in the first quarter of 2023, the Company updated its definition of operating income, as adjusted, operating margin, as adjusted, non-operating income (expense), as adjusted, to exclude the compensation expense related to the market valuation changes on certain deferred cash compensation plans, and the related gain (loss) on the economic hedge of these deferred cash compensation plans. Non-GAAP adjustments include amounts related to (i) net impact of compensation expense and hedge (gain) loss on deferred cash compensation plans, (ii) amortization of intangible assets, (iii) acquisition-related compensation costs, (iv) contingent consideration fair value adjustments, (v) Lease costs - New York, (vi) net income (loss) attributable to noncontrolling interests, (vii) a restructuring charge and (viii) noncash income tax matters, as applicable. For further information and reconciliation between GAAP and as adjusted, see notes (1) through (3) to the condensed consolidated statements of income and supplemental information in the current earnings release, as well as previously filed Form 10-Ks, 10-Qs and 8-Ks. 10

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