Investing to Deliver Shareholder Value

We are widening our competitive moat 11% 5% 7% 5% 4% BLK 3% 2% 6% 1% 3% 3% Industry 2% 2016-2018 2019 2020 2021 YTD 1 Note: For footnoted information, refer to slides 14-15. BlackRock IRH1221U/M-1946957-1/20 BLK Organic base fee growth premium vs industry 8

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