Summary

• BlackRock Equity Dividend Fund posted returns of -1.25% (Institutional shares) and -1.35% (Investor A shares, without sales charge) for the first quarter of 2026.
• The largest contributors to relative performance were selection decisions in the information technology, consumer discretionary, and utilities sectors.
• During the quarter, the fund increased its allocations to the IT and consumer discretionary sectors, and reduced its exposures to the materials and financials sectors.

The BlackRock Equity Dividend Fund is a conservative, core holding with a long-term track record for consistently capturing dividend growth through diverse market conditions. Dividend-paying stocks are an attractive source of income in today's market environment.