BlackRock Infrastructure Investment Strategy

Combination creates second-largest global infrastructure private markets business Significant scaled infrastructure platform¹... ...creates #2 private markets infra manager BlackRock. Infrastructure GLOBAL INFRASTRUCTURE PARTNERS Rank Asset manager Infrastructure client assets ($B)³ #14 by client assets² #3 #1 Competitor #1 243 by client assets² Combined BLK & #2 150+ GIP platform $50B+ + #3 $100B+ Competitor #3 136 #4 Competitor #4 75 #5 Competitor #5 66 #6 Competitor #6 65 59 Client Assets $150B+ #7 Competitor #7 44 64 #8 Competitor #8 64 #9 Competitor #9 61 Equity & Securities Debt Solutions #10 Competitor #10 56 Note: For footnoted information, refer to slide 12. BlackRock. 7

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