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 Q3 2019 $ 1,502 $ 1,538 $ Q4 $ 1,502 $ 1,538 $ (42) $ $ (42) $ 96 (33) 63 $ 1,119 $ 1,301 8 $ 1,119 $ 1,309 $ $ Q1 $ 684 $ 1,273 $ 589 (71) $ 57 (14) $ Q2 226 2020 $ 1,406 $ 1,757 $ 1,848 $ 1,545 1,406 $ 1,757 $ Q3 357 $ 224 $ (188) 169 $ 806 $ 1,214 $ (153) 71 $ Q4 54 1,848 319 (192) 127 1,364 $ 1,548 25 $ 1,032 $ 1,214 $ 1,418 $ 1,573 Q1 $ 1,545 $ $ 46 (74) $ (28) $ 2021 Q2 1,931 $ 1,935 Q3 1,931 $ 1,946 (169) 270 $ 336 101 $ 11 171 (72) 264 $ 1,199 $ 1,378 $ 1,681 9 $ 1,199 $ 1,549 $ 1,690 Non-GAAP adjustments include amounts related to the Lease cost - Hudson Yards, the charitable contribution of BlackRock's remaining 20% stake in PennyMac Financial Services, Inc. and noncash income tax matters, as applicable. For further information and reconciliation between GAAP and as adjusted, see notes (1) through (3) in the current earnings release as well as previously filed Form 10-Ks, 10-Qs and 8-Ks. BlackRock. 9

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