Growth and Transition Strategy Update

Strong relative performance across active platform Differentiated long-term performance % of assets above benchmark or peer median for the 5-year period¹ 90% 83% 81% 78% 66% 64% Strong lineup of 4- and 5-star active mutual funds² 90% 90% Equity 71% Fundamental Equity Systematic Equity Taxable Fixed Income 3/31/2018 3/31/2020 3/31/2023 Note: For footnoted information, refer to slide 76. Past performance is not indicative of future results. BlackRock # Funds % of AUM 73 60% Fixed Income 45 59% Multi-Asset & Alternatives 47 57% 67

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