BlackRock Results Presentation Deck

$2,799 Q1 2021 52% $(185) Product launch costs and commissions 20% $9 11% Direct fund expense 17% Quarterly expense, as adjusted ($ in millions) Q1 2022 compared to Q1 2021 $78 $69 Employee comp. & benefits Distribution & servicing costs Distribution & servicing costs Direct fund expense General & administration $79 G&A expense (1) $106 Employee comp. & benefits (1) $2,877 Q1 2022 Percentage Change Employee comp. & benefits (1) Distribution & servicing costs Direct fund expense Product launch costs and commissions General & administration (1) Total $2,999 Q4 2021 $(63) G&A expense $(56) Year-over-Year Sequential 8% (4)% 14% (2)% 3% 3% Q1 2022 compared to Q4 2021 $(122) Employee np. & benefits (100)% 20% 3% $(13) Distribution & servicing costs -% (12)% (4)% $10 Direct fund expense $2,877 Q1 2022 (1) Amounts exclude product launch costs and commissions incurred in Q1 2021, which are presented separately. Q1 2022, Q1 2021 and Q4 2021 expense, as adjusted, exclude expenses related to (i) amortization of intangible assets of $38 million, $34 million and $38 million, respectively; (ii) acquisition-related compensation costs of $7 million, $17 million and $12 million, respectively; (iii) contingent consideration fair value adjustments of $1 million, $3 million and $1 million, respectively; and (iv) Lease cost - Hudson Yards of $12 million, $0 million and $17 million, respectively. For further information, see reconciliations to GAAP on page 10 of this earnings release supplement and note (1) to the condensed consolidated statements of income and supplemental information in the current earnings release. BlackRock. 8

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