Growth and Transition Strategy Update

Our ability to meet client needs across a variety of market environments continues to scale our AUM 9% CAGR Net inflows ($B) $540 $429 $367 $391 $307 $3.8T $194 $202 $120 $150 $124 $110 Market / FX movements ($B) $1,025 $770 $856 $752 $386 $385 $134 $220 ($159) ($464) ($1,722) 12/31/12 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 BlackRock $2.9T increase from net inflows $2.2T appreciation from markets/FX $9.1T 3/31/23 124

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