BlackRock periodically invites social media influencers to attend certain events and/or provides them with gifts and entertainment (non-cash compensation) which may incentivize the social media influencers to create and publish favorable content regarding BlackRock or iShares products and services. This content may be considered a testimonial or endorsement, depending on whether the social media influencer is a client of BlackRock, shareholder in BlackRock, Inc. and/or investor in iShares ETFs or other BlackRock products.

BlackRock’s provision of non-cash compensation is not dependent on whether the influencers publish favorable content. Unless otherwise stated, the value of the non-cash compensation BlackRock provides to such social media influencers is not anticipated to exceed $1,000 within a twelve-month period.

The social media influencers are not affiliated with BlackRock and are not authorized to provide investment advice on its behalf. These activities should not be construed as BlackRock providing investment advice to the social media influencers or the general public.

BlackRock has separate cash compensation arrangements with third parties in connection with other marketing activities, which are disclosed in more detail in our Form ADV when applicable.