Investing in Strategic Growth Drivers and Accelerators

IRH0621U/M-1675207-1/171 Proven ability to leverage scale for clients & shareholders +200 bps 44.9% 44.1% 44.3% 43.8% 43.7% 42.9% +12% CAGR $33.82 $26.93 $28.48 $22.49 $19.60 $19.27 20151 2016 EPS, as adjusted 2017 2018 2019 2020 Operating margin, as adjusted 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 127

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