Growth and Transition Strategy Update
End notes
These notes refer to the financial metrics and/or defined term presented on:
Slide 4- Our strategy is serving clients with excellence
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AUM as of 3/31/2023. Client split as of FY2022.
Data as of 12/31/2022. Source: Broadridge, Extra ETF, AMF, Le Monde, Wisdom Tree, Finanzas, Italian Association of Asset Managers. The 40 million figure estimates the number of individual investors in iShares ETFs from
platform data across United States, European Union, United Kingdom, Canada, and Japan from the aforementioned sources. U.S. iShares investors estimated based on an empirical analysis of aggregate brokerage accounts in
the U.S. that hold iShares ETFs at the ticker level, and BlackRock estimates.
Refers to capital deployed from 1/1/2021 to 12/31/2022 in private markets strategies.
Data as of 12/31/2021. The overall number of Americans is calculated based on estimates of participants in BlackRock's Defined Contribution (DC) and Defined Benefit (DB) plan clients. The Defined Contribution number is
estimated based on data from FERS as well as BrightScope for active participants across 401(k) and 403(b). Defined Contribution includes plans with over $100M+ in assets where participants have access to one or more
BlackRock funds; some may not be invested with BlackRock. The Defined Benefit number is estimated based on data from public filings and Pension & Investments for the total number of participants across the 20 largest U.S.
Defined Benefit plans that are not also Defined Contribution clients of BlackRock.
5. Data as of May 2023.
599
6. Data as of 12/31/2022.
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Data as of 3/31/2023.
Slide 5 We are a platform for performance
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Source: BlackRock. Represents all active AUM for the 5-year period ending 3/31/2023. Please see appendix of this presentation for performance notes. Past performance is not indicative of future results. Please refer to page 12
of first quarter 2023 earnings release for performance disclosure detail.
Source: Morningstar Fund data as of 3/31/2023. Includes all BLK global active mutual funds (385 total). % AUM is calculated out of BLK funds that have any star rating, and does not include the AUM of non-rated funds as of
3/31/2023. Morningstar rates funds from one to five stars based on how well they've performed (after adjusting for risk) in comparison to similar funds. Within each Morningstar Category, the top 10% of funds receive five stars,
the next 22.5% four stars, the middle 35% three stars, the next 22.5% two stars, and the bottom 10% receive one star. Funds are rated for up to three time periods- three-, five-, and 10 years-and these ratings are combined to
produce an overall rating. Funds with less than three years of history are not rated. Ratings are objective, based entirely on a mathematical evaluation of past performance. They're a useful tool for identifying funds worthy of
further research, but shouldn't be considered buy or sell recommendations.
3. Source: BlackRock. Figures for 2022.
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Source: BlackRock. Figures for 2022.
5. Source: BlackRock analysis of all Fixed Income High Yield and Investment Grade Credit, FX, and Equity trades excluding derivatives for 2022 as of 12/31/2022. BlackRock Execution Cost is the average difference between: the
actual price achieved on the trade and the benchmark price. For Equity and FX, benchmark price is the market price, based on exchange data at the time when the PM submitted the order. For Fixed Income, benchmark price is the
previous day's closing price. The Market Half Spread (or Expected Cost) is an estimate of the average execution cost of a market participant. For Fixed Income, Market Half Spread is estimated quarterly for each sector and
maturity bucket based on a consensus opinion of BlackRock traders as well as a set of over 10 broker dealers. For FX, brokers provide Market Half Spread quarterly on a consensus basis for each currency pair and size range. For
Equity, BlackRock calculates Market Expected Cost using an average of multiple independent broker models. Subject to change.
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BlackRock as of December 2022. Cumulative cost-savings figure is calculated by taking the difference between the previous fund expense ratio and the new fund expense ratio from 2015 through December 2022, multiplied by
the fund assets under management at the time of the fund reduction. Methodology does not account for compounding savings over time.
BlackRock
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