BlackRock Investor Conference Presentation Deck

Consistent organic growth drives value 2022 Organic asset growth vs P/E regression¹ 2022E Cash P/E 23x 20x 17x 14x 11x 8x 5x (5%) 0% BlackRock F Note: For footnoted information, refer to slides 14-15. BLK 5% 2022E Organic Asset Growth 10% Organic asset growth² 6% BLK organic base fee growth 5% BLK 1% 0% (6%) A B C (6%) IRH1221U/M-1946957-1/20 1% D E Traditional Asset Manager Peers Represents the average of BlackRock's 5 largest US publicly traded asset manager peers. 4

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