RESOLVED : Stockholders request Blackrock Inc. ("Company" or "Blackrock") prepare a report, updated annually, disclosing:  1. Company policy and procedures governing direct and indirect lobbying and grassroots lobbying communications.  2. Payments by Blackrock used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient.  3. BlackRock's membership in and payments to any tax-exempt organization that writes and endorses model legislation.  4. Description of management's and the Board's decision-making process and oversight for making payments described in sections 2 and 3 above.  A "grassroots lobbying communication" is a communication directed to the general public that (a) refers to specific legislation or regulation, (b) reflects a view on the legislation or regulation, and (c) encourages the recipient to act concerning the legislation or regulation. "Indirect lobbying" refers to lobbying by a trade association or other organization of which Blackrock is a member.  Both "direct and indirect lobbying" and "grassroots lobbying communications" include efforts at the local, state, and federal levels.  The report shall be presented to both the Governance and Risk committees and posted on Blackrock's website. Supporting Statement Full disclosure of BlackRock's lobbying activities and expenditures is needed to assess whether its lobbying is consistent with its expressed goals and stockholders' interests. BlackRock spent $32,900,000 from 2010 ? 2023 on federal lobbying. This does not include state lobbying, where BlackRock also lobbies, but disclosure is uneven or absent. For example, BlackRock spent between $643,782 and 1,225,590 on lobbying in Texas for 2022 and 2023. BlackRock also lobbies abroad, spending between ?900,000?999,999 on lobbying in Europe for 2023. Companies can give unlimited amounts to third-party groups that spend millions on lobbying and undisclosed grassroots activity. 1 Unchecked corporate political influence poses a risk to the long-term portfolios of diversified investors. While such activities may help one company, they can cause externalities for other companies, taxpayers, consumers, and workers ? ultimately hampering economic value creation and portfolio growth upon which long-term diversified investors depend.  BlackRock fails to disclose its payments to trade associations and social welfare groups (SWGs), or the amounts used for lobbying, to stockholders. BlackRock lists memberships in the Business Roundtable and US Chamber of Commerce, which have spent over $2.3 billion on federal lobbying since 1998. And BlackRock's disclosure leaves out support for SWGs that lobby, like the California Taxpayers Association.  BlackRock's lack of disclosure presents reputational risks when its lobbying contradicts company public positions. For example, BlackRock believes climate risk is an investment risk, yet the Business Roundtable filed an amicus brief opposing the Securities and Exchange Commission climate risk disclosure rules.2 Over two decades, the Chamber has reportedly been a "central actor" in dissuading climate legislation.3 BlackRock's lobbying has drawn scrutiny, reportedly revamping "its lobbying operation amid GOP attacks on ESG investing strategies." 4 1 https://theintercept.com/2019/08/06/business-group-spending-on-lobbying-in-washington-is-at-least-doublewhats-publicly-reported/ 2 https://www.eenews.net/articles/investors-question-business-roundtables-climate-rule-battle/. 3 https://www.washingtonpost.com/politics/2023/08/02/climate-group-pushes-big-tech-exit-nations-largestbusiness-lobby/. 4 https://www.politico.com/newsletters/politico-influence/2023/12/01/blackrock-boosts-its-lobbying-bench-again00129695.