BlackRock Investor Day 2021

IRH0621U/M-1675207-1/171 G&A investments are concentrated in technology & data G&A expense, as adjusted ($M) Core G&A¹ Non-core G&A¹ AUM ($T) 2015-2020 Core G&A CAGR¹,2 $8.7 +13% CAGR $4.6 $1,876 $276 0% +11% $1,380 (1)% Technology & data Other³ $1,361 +3% CAGR $1,600 20152 2020 Note: For further information and reconciliation between GAAP and as adjusted, see the previously filed Form 10-Ks, 8-Ks, earnings releases and the presentation appendix on slides 146-147. For footnoted information, refer to slides 140-141. BlackRock 129

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