BlackRock : Q2 2026 Earnings Supplement

About this update from Blackrock, Inc.

Q2 2026 Earnings July 15, 2026 Earnings Release Supplement ~PAGE-BREAK~ Cash 7% Cash 6% Cash 7% Cash 6% Curr & Comm 1% Curr & Comm 2% Digital Assets 0% Digital Assets 1% Alternatives 3% Alternatives 15% Multi-Asset 9%Multi-Asset 7% Institutional 50% Institutional 32% Non-ETF Index 28% Non-ETF Index 7% Asia-Pacific 6% Asia-Pacific 6% Fixed Income 22%Fixed Income 19% ETFs 41% ETFs 45% ETFs 41% ETFs 45% EMEA 26% EMEA 28% Equity 58% Equity 50% Retail 9% Retail 23% Active 24% Active 42% Americas 68% Americas 66% AUM Base Fees AUM Base Fees AUM Base Fees AUM Base Fees A broadly diversified business across clients, products and geographies Base fees include investment advisory, administration fees and securities lending revenue. Base fees and AUM by region data are based on client domicile. 1 Product Type Client Type Style Region Assets Under Management of $15.3 trillion at June 30, 2026Q2 2026 Base Fees and Securities Lending Revenue of $5.7 billion ~PAGE-BREAK~ 8% (2)% (1)%(1)% LTM organic asset growth rate (%) LTM organic base fee growth rate (%) $51 $160 $201 $83 $46 $171 $268 $136 $199 $30 $61 $81 $1 $22 $34 $74 $(6) $(7) $82 $221 $281 $84 $68 $205 $342 $130 $192 Q22024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net flows($ in billions)Total BlackRock Retail Long-term Institutional Long-term 2 $(2) $27 $25 $8 $7 $22 $16 $24 $44 $(35)$29 $28 $(46) $(48) $(14) $(12) $(35) $(41) Q22024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Institutional Active Institutional Index $83 $97 $143 $107 $85 $153 $181 $132 $178 Q22024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 ETFs Long-term Long-term Cash $6 $7 $5 $13 $2 $10 $82 $15 $19 Q22024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 LTM organic asset growth rate measures rolling last twelve months net flows over beginning of period assets. Beginning in the first quarter of 2025, BlackRock updated the presentation of the Company's AUM line items. In addition, beginning in the first quarter of 2025, BlackRock updated the presentation of net flows to separately disclose realizations, which represent return of capital/return on investments. Realizations have not been recast for prior periods. LTM organic base fee growth rate is calculated by dividing net new base fees earned on net asset inflows for the LTM period by the base fee run-rate at the beginning of the period. Totals may not add due to rounding. ~PAGE-BREAK~ Profitability ($ in millions, except per share data) For further information and reconciliations to GAAP, see page 10 of this Earnings Release Supplement, notes (1) through (3) to the condensed consolidated statements of income and supplemental information in the current Earnings Release, as well as previously filed Form 10-Ks, 10-Qs and 8-Ks. Operating Income, as adjusted Operating Margin, as adjusted Net Income, as adjusted EPS, as adjusted $1,881 $2,128 $2,326 $2,032 $2,099 $2,621 $2,848 $2,669 $2,916 44.1%45.8%45.5% 43.2%43.3%44.6%45.0%44.5%45.9% 15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0% $0$100$200$300$400$500$600$700$800$900$1,000$1,100$1,200$1,300$1,400$1,500$1,600$1,700$1,800$1,900$2,000$2,100$2,200$2,300$2,400$2,500$2,600$2,700$2,800$2,900$3,000$3,100$3,200$3,300$3,400$3,500$3,600$3,700$3,800 Q22024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 $1,550 $1,715 $1,874 $1,770 $1,883 $1,907 $2,176 $2,068 $2,291 $10.36 $11.46 $11.93 $11.30 $12.05 $11.55 $13.16 $12.53 $13.91 $600 $720 $840 $960 $1,080 $1,200 $1,320 $1,440 $1,560 $1,680 $1,800 $1,920 $2,040 $2,160 $2,280 $2,400 $2,520 $2,640 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 3 Operating Income and Margin, as adjusted Net Income and EPS, as adjusted ~PAGE-BREAK~ $450 $450 $500 $375 $375 $375 $375 $375 $500 Q22026Q12026Q42025Q32025Q22025Q12025Q42024Q32024Q22024 Capital management (amounts in millions, except per share data) (1) Q4 2024 weighted-average diluted shares include the impact of 6.9 million shares issued as part of the consideration for the acquisition of Global Infrastructure Management, LLC ("GIP") in October 2024 (the "GIP Transaction"). (2) Q3 2025 weighted-average diluted shares include the impact of approximately 8.5 million Class B-2 common units ("Subco Units") of BlackRock Saturn Subco, LLC issued as part of the consideration for the acquisition of HPS Investment Partners ("HPS") in July 2025 (the "HPS Transaction"). (3) Amounts exclude repurchases of employee tax withholdings related to employee stock transactions. For further information and reconciliations to GAAP, see page 10 of this Earnings Release Supplement, notes (1) through (3) to the condensed consolidated statements of income and supplemental information in the current Earnings Release, as well as previously filed Form 10-Ks, 10-Qs and 8-Ks. Share repurchases and weighted-average diluted shares Share repurchases Weighted-average diluted shares 4 $5.10 $5.10 $5.10 $5.21 $5.21 $5.21 $5.21 $5.73 $5.73 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Dividends per share 149.7149.6157.0 156.6156.3165.2 165.4165.0164.6 ~PAGE-BREAK~

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