Investing in Strategic Growth Drivers and Accelerators

IRH0621U/M-1675207-1/171 Asset management revenue remains highly fragmented Sales & Trading² 13% Asset Management¹ Revenue share of top firm in each industry: 3% 3% 8% Clients' Whole Portfolios 58% 89% 42% Cloud Computing³ 31% 32% BlackRock #2-5 The rest Top 5 The rest Top 5 Note: For footnoted information, refer to slide 13. BlackRock 69% The rest 8

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