Growth and Transition Strategy Update

Differentiated organic growth and margin over the long-term, with near-term results impacted by historic market headwinds 20121 2021 2022 $3.8T $9.3B 40.4% +163% $2.5T of net inflows AUM (14)% $10.0T $307B of net inflows $8.6T Revenue 1 +109% $19.4B (8)% $17.9B +640bps¹ 1 46.8% (400)bps Note: Represents as adjusted operating margin. For reconciliation between GAAP and as adjusted, see the previously filed Forms 10-K, 10-Q and 8-K and the appendix to this presentation on slides 137. For footnoted information, refer to slides 135. BlackRock Margin as adj. 42.8% 125

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