1、2024 Annual ReportConnectingmore and more people to the growth of the capital marketsPowering connectivity to the long-term growth of the capital markets2024 record net inflows of$641BWe founded BlackRock based on our belief in the long-term growth of the capital markets,and the importance of being

2、invested in them.$38B Cryptocurrencies,commodities&liquid alternatives$52B Multi-asset$153B Cash$225B Equities$164B Fixed income$9B Private marketsBlackRock has grown as the capital markets have become a bigger and bigger part of the global economy.We deliver access across public and private markets

3、,equity and debt,and in the way that best serves each clientfrom broad-based ETFs to customized whole portfolio solutions.And we provide our Aladdin technology to support integrated public-private portfolios.Clients have entrusted BlackRock with more than$2 trillion of net inflows over the last five

4、 years.In that time,these new“units of trust,”alongside capital markets appreciation,have grown our assets under management(AUM)by nearly 60%to$11.6 trillion at year-end 2024.BlackRock continues to create more access and connections between long-term investors and capital marketsboth in the U.S.and

5、around the world.For example,our expanded private markets platform will connect private capital to fuel global investments in infrastructure and provide financing to start-ups,as well as small and mid-size businesses.We power connectivity to markets,enabling capital flows that contribute to economic

6、 growth and drive better outcomes for our clientsand differentiated returns for our shareholders.Evolving BlackRocks platform for the future:BlackRock has a compelling track record of executing strategic transactions,integrating them well,and earning a strong return on shareholder capital.In 2024,we