Growth and Transition Strategy Update

Expanding custom model offerings to grow share with RIA clients Typical RIA Custom Model Solutions Client¹: Asset Breakdown Account size Over $5M (20%) $2M-$5M (16%) $500K $2M (51%) Below $500K (13%) Qualified Note: For footnoted information, refer to slide 76. BlackRock Taxable Illiquid & other % of each RIA firm assets 26% Difficult to reach (UHNW, Illiquids) Whole portfolio expanded reach 38% (with Aperio, Munis, tax) O Current CMS reach + 36% 72

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