Growth and Transition Strategy Update

Opportunity in developed local markets Growth in local markets driven by key strategic focus areas... ...with non-U.S. markets continuing to drive market share gains Global & Local ETFs ETF Private Markets BlackRock¹ Industry² $191B AUM $4.4T AUM Germany +10% org.growth +4% org.growth Outsourcing and Technology Asset Allocation $463B AUM Japan +15% org.growth $5.4T AUM +8% org. growth Wealth Distribution Note: For footnoted information, refer to slide 63. BlackRock Australia & $133B AUM $2.2T AUM * New Zealand +15% org.growth +4% org. growth 60

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