BlackRock Investor Conference Presentation Deck

AUM $bn Despite strong historical organic growth... +66% $3,792 AUM = 27% Organic 36% Beta / FX 3% M&A $6,288 $6,444 Organic Growth Divergent Beta / FX Base Fees $mm Base Fees 26% Organic 10% Beta / FX = 3% M&A (4%) Repricing $8,072 $10,868 +35% $8,744 IR1218U-683415-2109255 2012 2017 9/30/18 2012 2017 9/30/18 YTD Note: 2012 base fee information does not reflect the recast related to the adoption of the new revenue recognition standard. 2017 base fee information reflects recast related to the adoption of new revenue recognition standard. For further information, refer to the Current Report on Form 8-K furnished on March 22, 2018 as well as previously filed Form 10-K. Repricing represents changes in management fees on investment management products 6

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