Investing in Strategic Growth Drivers and Accelerators

IRH0621U/M-1675207-1/171 Majority of net new client money is flowing into more efficient managed product structures Percentage of net new industry client money allocated to the following categories (4Q20)¹ BlackRock's advantages 50% • ETFs iShares is the largest global ETF provider • Efficient portfolio building blocks • Growth of ETF models • #1 retail wealth MF Clean-share provider year-to-date³ mutual funds² • Performance powering share gains 15% 14% 11% . SMAS • 6% 4% ETFs Clean-share mutual funds² SMAS Traditional mutual funds Long-dated private equity Private equity Insurance products Note: For footnoted information, refer to slide 85. BlackRock #2 Industry SMA provider4 - Aperio an industry leaderin tax-managed equity SMA Democratizing private market access through more efficient vehicles • Innovated public/private closed-end vehicle, $11B raised in the last 2 years 5 82 878

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