Investing in Strategic Growth Drivers and Accelerators

IRH0621U/M-1675207-1/171 Diversification supports 5% organic base fee growth target Organic base fee growth trend² 2017 2018 2019 2020 1Q213 Average4 Total firm +7% +2% +5% +7% +14% +7% % of BLK total base fees¹ Illiquid 5% alternatives 11% 18% 27% 18% 28% 20% ETFs 38% 14% 3% 6% 7% 10% 8% Traditional 42% 2% (1)% 1% 6% 19% 6% active 5 Cash 6% 14% 1% 24% 28% (10)% 11% Non-ETF index 9% 2% 2% 5% (1)% 4% 2% Note: For footnoted information, refer to slides 140-141. BlackRock 125

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