BlackRock Results Presentation Deck

Reconciliation of 2021 U.S. GAAP operating income and operating margin to operating income and operating margin, as adjusted Year Ended Dec 31, 2021 (in millions), (unaudited) Operating income, GAAP basis Non-GAAP expense adjustments: Amortization of intangible assets Acquisition-related compensation costs Contingent consideration fair value adjustments Lease cost Hudson Yards Operating income, as adjusted (1) Product launch costs and commissions Operating income used for operating margin measurement Revenue, GAAP basis Non-GAAP adjustments: Distribution fees Investment advisory fees Revenue used for operating margin measurement Operating margin, GAAP basis Operating margin, as adjusted (1) BlackRock. $ Recast for Updated Non-GAAP Previously Adjustments Reported $ $ $ See note (1) on pages 7-8 for more information on as adjusted items. March 31 34 17 3 1,599 185 1,784 $ 4,398 $ (340) (165) 3,893 $ 35.1% 45.8% 1,545 185 1,730 4,398 Recast Recast for Updated for Updated Non-GAAP Previously Non-GAAP Previously Adjustments Reported Adjustments Reported 1,545 $ 1,545 $ 1,931 $ 1,931 $ 1,935 $ 1,935 $ 2,039 $ 2,039 $ 7,450 $ 7,450 Recast for Updated Non-GAAP Previously Adjustments Reported $ $ June 30 (340) (165) 3,893 $ 35.1% 44.4% 37 47 1 2,016 2,016 $ 4,820 $ Three Months Ended (369) (154) 4,297 40.1% 46.9% $ 1,931 1,931 4,820 (369) (154) 4,297 40.1% 44.9% September 30 Recast for Updated Non-GAAP Previously Adjustments Reported $ $ 38 12 29 11 2,025 99 2,124 $ 5,050 $ (401) (184) 4,465 $ 38.3% 47.6% 11 1,946 99 2,045 $ 5,050 $ (401) (184) 4,465 38.3% 45.8% December 31 $ 38 12 1 17 2,107 2,107 $ 5,106 $ (411) (176) 4,519 39.9% 46.6% $ 17 2,056 2,056 $ 5,106 Year Ended December 31 (411) (176) 4,519 39.9% 45.5% 147 88 34 28 7,747 284 8,031 19,374 $ (1,521) (679) $ 17,174 $ 38.5% 46.8% 28 7,478 284 7,762 19,374 (1,521) (679) 17,174 38.5% 45.2% 3

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