BlackRock Results Presentation Deck

$2,999 Q4 2021 52% $(123) 18% Employee comp. & benefits $(90) 10% Distribution & servicing costs 20% Quarterly expense, as adjusted ($ in millions) Q4 2022 compared to Q4 2021 $(239) $(44) Employee comp. & benefits Direct fund expense Distribution & servicing costs Direct fund expense General & administration $6 Product launch costs $12 G&A expense (1) $2,760 Q4 2022 Percentage Change Employee comp. & benefits Distribution & servicing costs Direct fund expense Product launch costs General & administration (1) Total $2,726 $(43) Q3 2022 Q4 2022 compared to Q3 2022 $34 Direct fund expense $(39) Distribution & servicing costs $6 Year-over-Year Sequential (8)% 7% (15)% (7)% (14)% (14)% Production launch costs 2% (8)% $20 G&A expense (1) $90 Employee comp. & benefits 4% 1% $2,760 Q4 2022 (1) Amounts exclude product launch costs in Q4 2022, which are presented separately. Q4 2022 expense, as adjusted, excludes a restructuring charge of $91 million. Q4 2022, Q4 2021 and Q3 2022 expense, as adjusted, exclude expenses related to (i) amortization of intangible assets of $37 million, $38 million and $38 million, respectively; (ii) acquisition-related compensation costs of $6 million, $12 million and $5 million, respectively; (iii) contingent consideration fair value adjustments of $1 million, $1 million and $1 million, respectively; and (iv) Lease cost - Hudson Yards of $15 million, $17 million and $15 million, respectively. For further information, see reconciliations to GAAP on page 13 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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