BlackRock Investor Day 2021

IRH0621U/M-1675207-1/171 We expect active management to serve an increasingly important role in investor portfolios We see opportunities arising from: We see active management being used in new ways to address: Volatility Increasingly volatile markets, combined with the pandemic accelerating structural trends, create inefficiencies and greater dispersion across and within sectors. Diversification An expansive set of active tools across markets, geographies and styles can now help address both diversification goals and low returns to beta. Sustainability ESG alignment of business practices can propel company growth and drive alpha generation, or expose potential risks. Access Idiosyncratic and bespoke investment opportunities can play a larger role in alpha generation as more companies seek financing in private capital markets. BlackRock 68

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