Upholding fiduciary responsibilities is the cornerstone of BlackRock's enterprise culture, placing client interests foremost in all activities. As a global asset manager, we embody integrity and fairness by providing trustworthy advice and co-creating prosperous futures with clients. This begins with transparent communication and responsible decision-making, ensuring investments align with client goals across index and active strategies. Our specialized teams, such as the BlackRock Investment Stewardship (BIS) and BlackRock Active Investment Stewardship (BAIS), independently formulate and implement policies based on recognized governance standards, managing approximately 90% of public equity assets in index strategies as of December 31, 2024. Fiduciary duty motivates us to engage constructively with company boards and executives, participating in shareholder meetings to vote on matters that promote sustainable financial returns. This bridge between clients and invested companies fosters sound corporate governance and risk-adjusted performance. Internally, our principles reinforce this by emphasizing accountability, where we recognize the weight of client trust and respond with professional diligence. Through platforms like Aladdin, we enhance market understanding and collaboration, enabling precise, client-focused strategies. In practice, this means prioritizing long-term value over short-term gains, advocating for sustainable business practices that benefit all stakeholders. BlackRock's approach not only safeguards financial health but also builds resilience against market volatilities, helping clients navigate economic uncertainties. By continuously refining our processes and elevating expertise, we ensure fiduciary excellence remains integral to our operations, solidifying our role as a reliable advisor in the asset management landscape.

BlackRock's five guiding principles represent our core values, vision, and cultural language, embraced by every employee to shape interactions with clients, colleagues, communities, and stakeholders. The first principle, upholding fiduciary duty with client interests first, instills integrity and transparency, driving trustworthy advice and responsible stewardship. The second, believing in collaboration's power, breaks departmental barriers and leverages diversity for inspiration, fostering creativity through inclusive cultures and tools like Aladdin for unified market insights. Third, our passion for performance propels continuous advancement, innovating services and enhancing professional capabilities since our inception to meet evolving demands. Fourth, courageously embracing responsibility acknowledges client trust's gravity, responding with honesty and professionalism to fulfill commitments. Finally, committing to a better future focuses on long-term stakeholder success, promoting sustainable practices in operations and investments to create enduring value. These principles profoundly impact our culture by creating a cohesive, motivated workforce dedicated to excellence. They guide decision-making in investment management, where we engage companies on risks and opportunities, vote proxies aligned with client goals, and contribute to industry dialogues. In team dynamics, they encourage open collaboration, turning diverse voices into collective wisdom. Overall, this framework ensures BlackRock operates ethically, adapts resiliently to changes, and delivers superior outcomes, benefiting millions through financial technology and innovative solutions. By embedding these principles, we not only achieve business growth but also contribute to societal progress, making financial well-being accessible and sustainable globally.

Innovation is ingrained in BlackRock's DNA, driving us to develop cutting-edge investment solutions that address diverse client needs across markets and styles. Since our founding, we've pioneered products like the industry-leading iShares ETFs, which offer low-cost, transparent access to global assets, alongside mutual funds, private equity, and alternatives tailored for various objectives. Our outcome-oriented design philosophy focuses on optimizing results, enhancing returns, and improving accessibility through advanced analytics. Central to this is our Aladdin platform, a proprietary technology that serves as a common language for teams, enabling seamless collaboration, real-time data integration, and sophisticated risk management. By breaking silos, Aladdin harnesses diverse perspectives to tackle complex challenges, providing deeper insights into market dynamics and client requirements. This tech ecosystem supports our stewardship efforts, where analysts engage with company leadership to inform voting decisions, ensuring alignments with sustainable practices. Innovation extends to our stewardship pillars: interactive engagements, proxy voting, industry contributions, and transparent reporting, all designed to foster long-term value. In practice, this means continuously exploring new service methods, such as ESG-integrated strategies that promote responsible investing. Our commitment to performance passion fuels R&D investments, elevating operational efficiency and client experiences. As a financial technology leader, BlackRock empowers users with tools for informed decisions, adapting to regulatory and market shifts. This holistic innovation strategy not only differentiates us but also ensures resilient growth, helping clients achieve financial health amid volatility and uncertainty in global economies.

Investment Stewardship at BlackRock is our core responsibility as asset managers and client fiduciaries, actively engaging in corporate affairs to promote sound governance and sustainable returns. As a bridge between clients and invested companies, we offer tailored management schemes reflecting individual goals, participating in shareholder meetings to vote on issues that support risk-adjusted financial performance. Our policies are crafted by independent teams—BlackRock Investment Stewardship (BIS) for index strategies (covering ~90% of public equities as of 2024) and BlackRock Active Investment Stewardship (BAIS) for active ones—both grounded in established governance criteria. This ensures decisions align with client objectives across portfolios. The program rests on four key pillars: first, engaging with companies through analysts who discuss business risks and opportunities to inform voting; second, proxy voting on behalf of clients to express support or concerns formally, upholding ownership rights; third, contributing to industry dialogues by sharing expert insights on emerging stewardship topics, enhancing global strategies; and fourth, reporting activities transparently via publications and client updates to meet diverse needs. These pillars embody our principles, prioritizing fiduciary duties while fostering collaboration and responsibility. In execution, stewardship promotes sustainable practices, creating long-term value for stakeholders. By advocating ethical business conduct, we mitigate risks and capitalize on opportunities, benefiting clients' financial well-being. This comprehensive approach positions BlackRock as a leader in responsible investing, adapting to evolving markets and regulatory environments for enduring impact.

BlackRock's India team features accomplished leaders driving regional growth through expertise and strategic vision. Manish Mehta, Global Head of Markets and Index Investing and CIO for BlackRock India, leads core teams in index investing, global trading, securities lending, liquidity, and financing, advancing processes via the BGM platform for collaborative market interactions. With backgrounds from Boston Consulting Group and Accenture, plus degrees from Wharton and UC Berkeley, he ensures efficient, strategic operations. Yatin Shah, Investment Advisor, fosters cross-departmental collaboration for seamless service delivery, supporting growth, risk management, and efficiency in dynamic environments since joining in 2016 from Oliver Wyman, holding a Harvard mathematics degree. Andrew Landman, Senior Managing Director and Asia Pacific Head, oversees comprehensive platforms for active, index, ETF, alternative, and tech products, championing sustainable investments with prior roles at Deutsche Bank and Barclays; he earned a 2023 lifetime achievement award and serves on India's financial committees. Caroline Heller, HR Head, builds inclusive cultures and talent strategies for sustainable growth, drawing from over five years at Goldman Sachs and a Northwestern psychology degree, emphasizing people-centric leadership. Caleb Scott, Chief Legal Officer, oversees global legal, compliance, and governance, providing strategic advice from his Princeton background in areas like financial crimes and taxation. Dylan Allen, CFO for India, manages financial strategies and risk with 15+ years' experience, holding LSE economics and Chicago Booth MBA degrees, advocating data-driven decisions. Collectively, these leaders embody BlackRock's principles, enhancing client value through innovation, responsibility, and collaboration in India's vibrant market.