8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2024

BLACKROCK, INC.

(Exact name of registrant as specified in its charter)

DELAWARE	001-33099	32-0174431
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

50 Hudson Yards, New York, New York	10001
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (212) 810-5800

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 par value	BLK	New York Stock Exchange
1.250% Notes due 2025	BLK25	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

On June 30, 2024, BlackRock, Inc. (the “Company”) announced that it had entered into a share purchase agreement (the “Transaction Agreement”) to indirectly acquire, through one of its wholly owned subsidiaries, 100% of the business and assets of Preqin (“Preqin”), a leading independent provider of private markets data, for £2.55 billion (approximately $3.2 billion U.S. dollars) in cash (the “Transaction”). The Transaction is expected to close (the “Closing”) in the fourth quarter of 2024, subject to the satisfaction of certain regulatory approvals as described under Item 8.01 of this Current Report on Form 8-K.

A copy of the press release issued by the Company announcing the Transaction is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The Company is also furnishing supplemental materials related to the Transaction as Exhibit 99.2, which will be used during a conference call and webcast with investors about the Transaction at 8:30 a.m., Eastern Time, on July 1, 2024.

Item 8.01. Other Events.

Pursuant to the Transaction Agreement and related ancillary agreements, the Company will acquire the business and assets of Preqin by indirectly acquiring, through one of its wholly owned subsidiaries, 100% of the shares of Preqin Holding Limited for £2.55 billion (approximately $3.2 billion U.S. dollars) in cash. The Company intends to fund the consideration through up to $3.0 billion of incremental debt, as well as available cash. The Transaction is expected to close in the fourth quarter of 2024.

Consummation of the Transaction is subject to the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the receipt of specified other regulatory approvals and customary closing conditions.

The Company and Preqin have each made customary representations, warranties and covenants in the Transaction Agreement, and the Transaction Agreement contains customary termination provisions. The Transaction Agreement also contains customary indemnification obligations for transactions of this type.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1	Press release announcing the Transaction, dated June 30, 2024
99.2	Investor Presentation – Acquisition of Preqin
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BlackRock, Inc.
	(Registrant)
	By:	/s/ R. Andrew Dickson III
Date: July 1, 2024		R. Andrew Dickson III
		Managing Director and Corporate Secretary

EX-99.1

Exhibit 99.1

BlackRock to Acquire Preqin, Leading Private Markets Data Solutions Provider

Transforms BlackRock’s private markets capabilities by delivering integrated investments, technology, and data for the whole portfolio

Strategic expansion of Aladdin tech business into fast-growing private markets data segment, unlocking additional $8 billion total addressable market

Preqin grows BlackRock’s client base across GPs, LPs and service providers, bringing 4,000+ relationships and ~$240 million of highly recurring 2024E revenue

NEW YORK, LONDON – June 30, 2024 – BlackRock, Inc. (NYSE: BLK) has agreed to acquire Preqin, a leading independent provider of private markets data for £2.55 billion or approximately $3.2 billion in cash. Bringing together Preqin’s data and research tools with Aladdin’s complementary workflow capabilities in a unified platform will create a preeminent private markets technology and data provider. The acquisition adds a highly complementary data business to BlackRock’s investment technology, marking a strategic expansion into the fast-growing private markets data segment.

Private markets are the fastest growing segment of asset management, with alternative assets expected to reach nearly $40 trillion by the end of the decade. As institutional and wealth investors increase allocations to alternatives, BlackRock has built a leading private markets franchise to meet this client demand. There is an even greater need for standardized data, benchmarks, and analytics that enable investors to better incorporate private asset classes into portfolios and provide fund managers with better data and tools to deliver outcomes for clients. Private markets data is estimated to be an $8 billion total addressable market and growing 12% per year, reaching $18 billion by 2030.

Preqin empowers investors to make better decisions by providing data and insights that increase transparency and access across the global alternatives market. With a 20-year history, Preqin is a leading independent data solutions provider in private markets with global coverage of 190,000 funds, 60,000 fund managers and 30,000 private markets investors, reaching more than 200,000 users, including asset managers, insurers, pensions, wealth managers, banks, and other service providers. In 2024, Preqin is expected to generate ~$240 million of highly recurring revenue and has grown approximately 20% per year in the last three years.

Through the Aladdin platform, BlackRock provides technology solutions to over 1,000 clients. The combination of Preqin with eFront, Aladdin’s private markets solution, brings together the data, research, and investment process for fund managers and investors across fundraising, deal sourcing, portfolio management, accounting, and performance. Preqin will also continue to be offered as a standalone solution.

“BlackRock’s vision has always been to bring together investments, technology, and data to offer solutions that meet our clients’ needs across their whole portfolio. As clients increasingly evolve their focus from choosing products to constructing portfolios, this shift requires technology, data, and analytics that create a ‘common language’ for investing across both public and private markets. We see data powering the industry across technology, capital formation, investing, and risk management,” said Rob Goldstein, BlackRock Chief Operating Officer. “Every acquisition has been an opportunity to strengthen our capabilities for clients—and in fact, we have been a client of Preqin for many years, and we look forward to welcoming the talented Preqin team to BlackRock.”

“Together with Preqin, we can make private markets investing easier and more accessible while building a better-connected platform for investors and fund managers. This presents a substantial opportunity for Aladdin to bridge the transparency gap between public and private markets through data and analytics,” said Sudhir Nair, Global Head of Aladdin.

“BlackRock is known for excellence in both investment management and financial technology, and together we can accelerate our efforts to deliver better private markets data and analytics to all of our clients at scale.” said Mark O’Hare, Founder of Preqin. “I look forward to joining BlackRock and continuing to play a role in the continued growth and success of Preqin and our customers.” Preqin founder Mark O’Hare will join BlackRock as a Vice Chair after the close of the transaction.

“Private markets continue to evolve and so is Preqin. I am incredibly excited about the opportunities this next phase of growth, together with BlackRock, promises our customers and our employees,” said Christoph Knaack, CEO of Preqin.

Terms of the Transaction

Under the terms of the transaction, BlackRock will acquire 100% of the business and assets of Preqin for total consideration of £2.55 billion or approximately $3.2 billion in cash.

The transaction is expected to close before year-end 2024, subject to regulatory approvals and other customary closing conditions.

Barclays served as lead financial advisor to BlackRock, with Skadden, Arps, Slate, Meagher & Flom acting as legal counsel. Goldman Sachs International served as the sole financial advisor, and Macfarlanes acted as legal counsel, to Preqin.

Teleconference and Webcast Details

BlackRock will hold an investor call on July 1, 2024 at 8:30 a.m. ET to discuss the transaction.

Members of the public who are interested in participating in the teleconference should dial, from the United States, (313) 209-4906, or from outside the United States, (877) 502-9276, shortly before 8:30 a.m. ET and reference the BlackRock Conference Call (ID Number 8700330). A live, listen-only webcast will also be available via the investor relations section of www.blackrock.com.

The webcast will be available for replay by 11:30 a.m. ET on Monday, July 1, 2024. To access the replay of the webcast, please visit the investor relations section of www.blackrock.com.

An investor presentation with additional details about the transaction is also available on the “Events & Presentations” section of the investor relations website: https://ir.blackrock.com/news-and-events/events-and-presentations/

Contacts

BlackRock Media Relations

Ed Sweeney

646-231-0268

Ed.Sweeney@BlackRock.com

BlackRock Investor Relations

Caroline Rodda

212-810-3442

Caroline.Rodda@BlackRock.com

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate

About Preqin

Preqin, the Home of Alternatives^™, empowers financial professionals who invest in or allocate to alternatives with essential data and insight to make confident decisions. It supports them throughout the entire investment lifecycle with critical information and leading analytics solutions. The company has pioneered rigorous methods of collecting private data for over 20 years, enabling more than 200,000 professionals globally to streamline how they raise capital, source deals and investments, understand performance, and stay informed. For more information visit www.preqin.com.

Preqin is owned by its management and employees together with Valhalla Ventures, Founder Mark O’Hare’s family holding company.

Forward Looking Statements

This presentation, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations, including the anticipated timing, consummation and expected benefits of the proposed Preqin transaction and Preqin’s projected financial performance. Forward looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” and similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and may contain information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

BlackRock has previously disclosed risk factors in its Securities and Exchange Commission reports. These risk factors and those identified elsewhere in this presentation, among others, could cause actual results to differ materially from forward-looking statements or historical performance and include: (1) the introduction, withdrawal, success and timing of business initiatives and strategies; (2) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for products or services or in the value of AUM; (3) the relative and absolute investment performance of BlackRock’s investment products; (4) BlackRock’s ability to develop new products and services that address client preferences; (5) the impact of increased competition; (6) the impact of future acquisitions or divestitures, including the acquisitions of Preqin (the “Preqin Transaction”) and Global Infrastructure Partners (the “GIP Transaction” and together with the Preqin Transaction, the “Transactions”); (7) BlackRock’s ability to integrate acquired businesses successfully, including the Transactions; (8) risks related to the Transactions, including the expected closing date of the Transactions, the possibility that the Transactions do not close, including, but not limited to, due to the failure to satisfy the closing conditions, the possibility that expected synergies and value creation from the Preqin Transaction will not be realized, or will not be realized within the expected time period, and impacts to business and operational relationships related to disruptions from the Transactions; (9) the unfavorable resolution of legal proceedings; (10) the extent and timing of any share repurchases; (11) the impact, extent and timing of technological changes and the adequacy of intellectual property, data, information and cybersecurity protection; (12) the failure to effectively manage the development and use of AI; (13) attempts to circumvent BlackRock’s operational control

environment or the potential for human error in connection with BlackRock’s operational systems; (14) the impact of legislative and regulatory actions and reforms, regulatory, supervisory or enforcement actions of government agencies and governmental scrutiny relating to BlackRock; (15) changes in law and policy and uncertainty pending any such changes; (16) any failure to effectively manage conflicts of interest; (17) damage to BlackRock’s reputation; (18) increasing focus from stakeholders regarding ESG matters; (19) geopolitical unrest, terrorist activities, civil or international hostilities, and other events outside BlackRock’s control, including wars, natural disasters and health crises, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (20) climate-related risks to BlackRock’s business, products, operations and clients; (21) the ability to attract, train and retain highly qualified and diverse professionals; (22) fluctuations in the carrying value of BlackRock’s economic investments; (23) the impact of changes to tax legislation, including income, payroll and transaction taxes, and taxation on products, which could affect the value proposition to clients and, generally, the tax position of BlackRock; (24) BlackRock’s success in negotiating distribution arrangements and maintaining distribution channels for its products; (25) the failure by key third-party providers of BlackRock to fulfill their obligations to BlackRock; (26) operational, technological and regulatory risks associated with BlackRock’s major technology partnerships; (27) any disruption to the operations of third parties whose functions are integral to BlackRock’s ETF platform; (28) the impact of BlackRock electing to provide support to its products from time to time and any potential liabilities related to securities lending or other indemnification obligations; and (29) the impact of problems, instability or failure of other financial institutions or the failure or negative performance of products offered by other financial institutions. BlackRock’s Annual Report on Form 10–K, Quarterly Reports on Form 10-Q and BlackRock’s subsequent filings with the SEC, accessible on the SEC’s website at www.sec.gov and on BlackRock’s website at www.blackrock.com, discuss these factors in more detail and identify additional factors that can affect forward–looking statements. The information contained on BlackRock’s website is not a part of this presentation, and therefore, is not incorporated herein by reference.

BlackRock reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”); however, management believes BlackRock’s ongoing operating results may be enhanced if investors have additional non–GAAP financial measures. Management reviews non–GAAP financial measures to assess ongoing operations and considers them to be helpful, for both management and investors, in evaluating BlackRock’s financial performance over time. Management also uses non–GAAP financial measures as a benchmark to compare its performance with other companies and to enhance the comparability of this information for the reporting periods presented. Non–GAAP measures may pose limitations because they do not include all of BlackRock’s revenue and expense. BlackRock’s management does not advocate that investors consider such non–GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Non–GAAP measures may not be comparable to other similarly titled measures of other companies.

EX-99.2

Acquisition of Preqin Investor Presentation June 30, 2024 Exhibit 99.2

Forward looking statements This presentation, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations, including the anticipated timing, consummation and expected benefits of the proposed Preqin transaction and Preqin’s projected financial performance. Forward looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” and similar expressions. BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and may contain information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. BlackRock has previously disclosed risk factors in its Securities and Exchange Commission reports. These risk factors and those identified elsewhere in this presentation, among others, could cause actual results to differ materially from forward-looking statements or historical performance and include: (1) the introduction, withdrawal, success and timing of business initiatives and strategies; (2) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for products or services or in the value of AUM; (3) the relative and absolute investment performance of BlackRock’s investment products; (4) BlackRock’s ability to develop new products and services that address client preferences; (5) the impact of increased competition; (6) the impact of future acquisitions or divestitures, including the acquisitions of Preqin (the “Preqin Transaction”) and Global Infrastructure Partners (the “GIP Transaction” and together with the Preqin Transaction, the “Transactions”); (7) BlackRock’s ability to integrate acquired businesses successfully, including the Transactions; (8) risks related to the Transactions, including the expected closing date of the Transactions, the possibility that the Transactions do not close, including, but not limited to, due to the failure to satisfy the closing conditions, the possibility that expected synergies and value creation from the Preqin Transaction will not be realized, or will not be realized within the expected time period, and impacts to business and operational relationships related to disruptions from the Transactions; (9) the unfavorable resolution of legal proceedings; (10) the extent and timing of any share repurchases; (11) the impact, extent and timing of technological changes and the adequacy of intellectual property, data, information and cybersecurity protection; (12) the failure to effectively manage the development and use of AI; (13) attempts to circumvent BlackRock’s operational control environment or the potential for human error in connection with BlackRock’s operational systems; (14) the impact of legislative and regulatory actions and reforms, regulatory, supervisory or enforcement actions of government agencies and governmental scrutiny relating to BlackRock; (15) changes in law and policy and uncertainty pending any such changes; (16) any failure to effectively manage conflicts of interest; (17) damage to BlackRock’s reputation; (18) increasing focus from stakeholders regarding ESG matters; (19) geopolitical unrest, terrorist activities, civil or international hostilities, and other events outside BlackRock’s control, including wars, natural disasters and health crises, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (20) climate-related risks to BlackRock's business, products, operations and clients; (21) the ability to attract, train and retain highly qualified and diverse professionals; (22) fluctuations in the carrying value of BlackRock’s economic investments; (23) the impact of changes to tax legislation, including income, payroll and transaction taxes, and taxation on products, which could affect the value proposition to clients and, generally, the tax position of BlackRock; (24) BlackRock’s success in negotiating distribution arrangements and maintaining distribution channels for its products; (25) the failure by key third-party providers of BlackRock to fulfill their obligations to BlackRock; (26) operational, technological and regulatory risks associated with BlackRock’s major technology partnerships; (27) any disruption to the operations of third parties whose functions are integral to BlackRock’s ETF platform; (28) the impact of BlackRock electing to provide support to its products from time to time and any potential liabilities related to securities lending or other indemnification obligations; and (29) the impact of problems, instability or failure of other financial institutions or the failure or negative performance of products offered by other financial institutions. BlackRock’s Annual Report on Form 10–K, Quarterly Reports on Form 10-Q and BlackRock’s subsequent filings with the SEC, accessible on the SEC’s website at www.sec.gov and on BlackRock’s website at www.blackrock.com, discuss these factors in more detail and identify additional factors that can affect forward–looking statements. The information contained on BlackRock’s website is not a part of this presentation, and therefore, is not incorporated herein by reference. BlackRock reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”); however, management believes BlackRock’s ongoing operating results may be enhanced if investors have additional non–GAAP financial measures. Management reviews non–GAAP financial measures to assess ongoing operations and considers them to be helpful, for both management and investors, in evaluating BlackRock’s financial performance over time. Management also uses non–GAAP financial measures as a benchmark to compare its performance with other companies and to enhance the comparability of this information for the reporting periods presented. Non–GAAP measures may pose limitations because they do not include all of BlackRock’s revenue and expense. BlackRock’s management does not advocate that investors consider such non–GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Non–GAAP measures may not be comparable to other similarly titled measures of other companies.

Transforming BlackRock private markets, technology and data BlackRock to acquire Preqin for £2.55B (approximately $3.2B) in cash Attractive long-term strategic value and synergies Accelerates annual contract value (ACV) and adds highly recurring revenue Preqin is expected to add ~$240M of revenue, and has grown ~20% in last three years4 Expected to accelerate the growth and revenue contribution of our technology business, which is highly recurring revenue that is less sensitive to capital markets fluctuations Implied acquisition multiple of 13x 2024E P/Revenue reflects high-growth profile and is in-line with previous transactions of leading financial technology and data assets Opportunity for meaningful revenue synergies, primarily from increased distribution via BlackRock’s complementary networks and partnership channels5 Value creation potential of identified synergies results in an estimated IRR of ~18%, well in excess of cost of capital, and modest as-adjusted EPS dilution in 2025, in line with eFront acquisition5 Increasing access to private markets Enables first end-to-end provider in the private markets, with BlackRock delivering capabilities across investments, technology and data Combination of Preqin with Aladdin and eFront positions us to integrate private markets investment workflows with private markets data - across fundraising, deal sourcing, portfolio monitoring, accounting and performance Industry-leading private markets data will serve a larger set of client needs across the whole portfolio Expands BlackRock technology into fast-growing market data segment, tripling our desktop reach and moving into adjacent TAM1 Private markets data TAM predicted to reach $18B by 2030, growing at 12% per year2 Expands BlackRock’s client base, bringing 4,000+ relationships with GPs, LPs and service providers3 Delivers high-quality benchmarks for asset allocation, performance monitoring and investment to foster growth of private markets Supports opportunities to create new products, including additional private markets data sets, analytics and indices Strategic expansion to fast-growing private markets data segment Note: For footnoted information, refer to slide 10. Please do not move FN up or down à

Growth of alternatives sector expected to drive increasing demand for private markets data 14% CAGR Note: For footnoted information, refer to slide 10. 10% CAGR Significant demand for alternatives projected over the next decade…1 …leading to substantial expected growth for private markets data spend2 $8B $4B $18B $11B Total addressable market Serviceable available market ~15% CAGR ~12% CAGR 2024 2030E Alternatives AUM, $T Opportunity to bridge gaps in the whole portfolio = Private markets data TAM, $B Against this growth backdrop, the private markets landscape has a clear need for more and new types of data… No consistent standards for alternatives data reporting + Demand for new types of data and analytics to enable decision-making + Gap between public and private markets data availability and transparency + Rapidly growing, complex industry + Please do not move FN up or down à

BlackRock’s vision for the evolution of private markets Detailed investment data widely available, increasing valuation transparency, enabling advanced analytics and improving benchmarks Private markets move closer to the center of portfolios for both institutional and wealth Standard data with broad industry adoption, consistent calculation methodologies, and overall more standardized processes Technology and data connecting GPs, LPs and service providers – making it easier to invest, onboard investors and monitor / report Broader set of private market investment products that provide options for liquidity and more scaled secondaries markets Private markets can be difficult to access and incorporate into portfolios at scale No common data, standard calculations or best-practice workflows Limited transparency into fund performance, risk and portfolio company valuations End-to-end investment and fundraising processes are not scaled – fragmented technology and data landscape creates disconnected workflows Long investment periods with limited to no interim options for liquidity

Preqin overview Highly diversified customer base Preqin is a leading independent provider of private markets data1 92% 75% of the top 100 alternatives managers8 of the top 100 alternatives investors8 20%+ revenue growth in last 3 years7 1B+ alternatives datapoints3 99% recurring revenue3 2023 ARR5 28% n  LPs     n  GPs     n  Service providers6 30% 42% Premier private markets data provider with ~$240M in annual recurring revenue expected in 20242 Long-standing and growing relationships across the private markets landscape, with 4,000+ clients and 200,000+ desktops3 Comprehensive global coverage of 190,000 funds, 60,000 fund managers and 30,000 private markets investors3 20%+ growth across all segments over last three years and a track record of scaling margins4 Highly recurring revenue base (99%) which is less linked to market movements3 Note: For footnoted information, refer to slide 10. Please do not move FN up or down à

Advancing BlackRock’s private markets capabilities at the intersection of data, technology and investments Highly compelling growth levers Note: For footnoted information, refer to slide 10. Strong BlackRock track record of integrating and scaling acquisitions1 Bringing investments, technology and data together for the whole portfolio Unified investment and risk management platform End-to-end alternatives investment management Private Markets Multi-alternative investment manager Connecting Preqin and eFront to grow a best-in-class integrated alternatives workflow and data process, while continuing to offer Preqin as a standalone product Launching BlackRock into the fast-growing data market, with opportunity to innovate data products and deliver better client outcomes Enabling AI across Preqin’s offerings to support increased scale and further client use cases Please do not move FN up or down à 2x ACV growth since acquisition +23% Organic asset growth since acquisition +23% Organic asset growth since acquisition Comprehensive private markets data and research platform Further accelerates core strategy of Aladdin to offer the most comprehensive whole portfolio platform

Opportunities for significant growth synergies Note: For footnoted information, refer to slide 10. Drive further data collection and redistribution through combined, complementary networks Use BlackRock’s scale and relationships to distribute Preqin products through key partnership channels Leverage combined reach to infuse data across the industry Build a more comprehensive fund and deal-level database and innovate new products Integrate data and workflow into a unified platform to better serve clients Harness the combined scale of BlackRock and Preqin Indexing and efficient access to private markets Bring together Preqin’s data and research tools with eFront and Aladdin’s workflow capabilities Deliver high-quality private markets benchmarks and data for asset allocation, performance metrics and investing Increased scale and efficiency with AI and automation, while safeguarding GP/LP data through information barriers Please do not move FN up or down à

Long-term value creation for BlackRock shareholders Consideration1 Total consideration of £2.55B (approximately $3.2B) in cash at closing Transaction to be funded by up to $3B of incremental debt, and available cash Expect Debt/EBITDA ratio to increase to ~1.4x2 Acquired business expected to add ~$240M of highly recurring revenue (99% recurring) that is not directly tied to capital markets fluctuations3 Implied acquisition multiple of 13x 2024E P/Revenue reflects high-growth profile and is in-line with previous transactions of leading financial technology and data assets Preqin founder Mark O’Hare to join BlackRock as a vice chair after closing of transaction Expect to be modestly dilutive to as-adjusted earnings and operating margin in 2025, excluding one-time transaction costs; in-line with eFront transaction4 Value creation potential of identified synergies results in an estimated IRR of ~18%, well in excess of cost of capital4 Indicative valuation Financial impact Note: For footnoted information, refer to slide 10. Timing Expected to close before year-end 2024, subject to regulatory approvals and other customary closing conditions Please do not move FN up or down à

End notes These notes refer to the financial metrics and/or defined term presented on: Slide 3 – Transforming BlackRock private markets, technology and data: BlackRock to acquire Preqin for £2.55B, approximately $3.2B, in cash Source: Preqin and BlackRock; desktops based on number of users. Data as of December 31, 2023. Source: Preqin and BlackRock estimates. Source: Preqin. Clients as of December 31, 2023. Source: Preqin. Revenue based on 2024 forecast. Growth measured as ACV (Annual Contract Value) CAGR from 2021 – 2023. Source: BlackRock forecasts. Synergies, accretion / dilution analysis and IRR shown for illustrative purposes only. Earnings per share and operating margin metrics shown on an as-adjusted basis and exclude certain transaction-related costs. Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions. Actual results could differ materially from those anticipated in statements and future results could differ materially from historical performance. Slide 4 – Growth of alternatives sector expected to drive increasing demand for private markets data Source: Preqin Future of Alternatives 2028 report, Preqin estimates. Source: Preqin and BlackRock estimates. Slide 6 – Preqin overview Based on 2023 revenue, or best available estimated revenue for privately held competitors. Source: Preqin. Revenue based on 2024 forecast. Source: Preqin. Data as of December 31, 2023. Growth measured as ACV (Annual Contract Value) CAGR from 2021 – 2023. ARR defined as annual recurring revenue as of 2023. Service providers include consultants and advisors (e.g. legal, financial). Source: Preqin. Growth measured as revenue CAGR from 2021 – 2023. Source: Preqin. Top 100 alternatives managers based on total alternatives capital raised. Top 100 alternatives investors based on alternatives allocations. Slide 7 – Advancing BlackRock’s private markets capabilities at the intersection of data, technology and investments Source: BlackRock. eFront ACV growth from April 30, 2019 – May 30, 2024, and Aperio organic asset growth from February 1, 2021 – March 31, 2024. Slide 9 – Long-term value creation for BlackRock shareholders Shown for illustrative purposes only. Excluding lease liabilities and other customary rating agency adjustments. Shown for illustrative purposes only. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. Debt/EBITDA ratio represents pro forma estimates. Includes BlackRock debt as of March 31, 2024, and $3B of incremental debt associated with the Preqin transaction. EBITDA represents 2024 estimates for BlackRock, GIP and Preqin. We have not provided a reconciliation of EBITDA and the ratio of debt to EBITDA because the information needed to reconcile these measures is unavailable due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the BlackRock’s accounting policies for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions. Source: Preqin forecasts. Revenue based on 2024 forecast. Gross retention rates based on fiscal year 2023. Source: BlackRock and Preqin forecasts. Synergies, accretion / dilution analysis and IRR shown for illustrative purposes only. Metrics shown on an as-adjusted basis and exclude certain transaction-related costs. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

Important notes The opinions expressed herein are as of June 2024 and are subject to change at any time due to changes in the market, the economic or regulatory environment or for other reasons. The information should not be construed as research or relied upon in making investment decisions or be used as legal advice. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a professional adviser before making an investment decision. This material may contain ‘forward–looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. The information and opinions contained herein are derived from proprietary and non–proprietary sources deemed by BlackRock to be reliable, but are not necessarily all inclusive and are not guaranteed as to accuracy or completeness. Certain of the information presented herein is for illustrative purposes only. No part of this material may be reproduced, stored in any retrieval system or transmitted in any form or by any means, electronic, mechanical, recording or otherwise, without the prior written consent of BlackRock. This material is solely for informational purposes and does not constitute an offer or solicitation to sell or a solicitation of an offer to buy any shares of any fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. Investing involves risks including possible loss of principal. The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”). ©2024 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iRETIRE, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, FutureAdvisor, Cachematrix, eFront, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

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Document and Entity Information	Jun. 30, 2024
Document And Entity Information [Line Items]
Entity Registrant Name	BlackRock Inc.
Entity Incorporation State Country Code	DE
Entity Address, State or Province	NY
Amendment Flag	false
Entity Central Index Key	0001364742
Document Type	8-K
Document Period End Date	Jun. 30, 2024
Entity File Number	001-33099
Entity Tax Identification Number	32-0174431
Entity Address, Address Line One	50 Hudson Yards
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	10001
City Area Code	(212)
Local Phone Number	810-5800
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, $.01 par value
Trading Symbol	BLK
Security Exchange Name	NYSE
Deferrable Notes [Member]
Document And Entity Information [Line Items]
Security 12b Title	1.250% Notes due 2025
Trading Symbol	BLK25
Security Exchange Name	NYSE