Frequently Asked Questions Individual Retirement Accounts

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1 Frequently Asked Questions Individual Retirement Accounts What is an IRA? IRA stands for Individual Retirement Arrangement. An IRA is a taxed deferred vehicle used to set aside assets for retirement. What is the difference between a Roth IRA and a Traditional IRA? One of the key differences between these types of IRAs is that in some cases contributions to Traditional IRAs can be deducted from your taxable income while this is never true for Roth IRAs. Another key difference is that distributions of deductible contributions from a Traditional IRA are taxed as income while qualified distributions from a Roth IRA are not taxed. For additional information regarding the differences between Traditional IRAs and Roth IRAs, please reference IRS Publication 590. What is a SEP IRA? A SEP, Simplified Employee Pension, is a written arrangement that allows small business owners to make deductible contributions for their own and their employee s benefit to a Traditional IRA. A SEP- IRA is owned and controlled by the employee, and the employer makes contributions to the financial institution where the SEP-IRA is maintained. For information on if you are eligible to setup a SEP plan for your employees or to obtain form IRS Form 5305-SEP please consult the IRS website Can I have both a Roth IRA and a Traditional IRA? Yes. However the combined amount being contributed to both types of accounts must not exceed that year s contribution limits. Who is eligible for a Traditional IRA? You are eligible to make contributions to a Traditional IRA if you (or, if you file a joint return, your spouse) received taxable compensation during the year, and you are not age by the end of the year. You and your spouse are required to open separate IRAs. Who is eligible for a Roth IRA? The IRS guidelines define who is eligible to contribute to a Roth IRA based on your modified Adjusted Gross Income and tax filing status. Please consult IRS Publication 590 for the most up to date income eligibility requirements. How much can I contribute to my IRA? The amount that can be contributed to your IRA is based upon IRS annual contribution limits. For Roth and Traditional, typically it is the smaller of the two amounts: $5,500 (or $6,500, if you are age 50 or older), or 100% of your taxable compensation for the year. The most that can be contributed to a SEP IRA is the smaller of $51,000 or 25% of the employee s compensation for year Are contributions tax deductible? Your contributions to a Traditional IRA may be deductible based on your modified Adjusted Gross Income ( AGI ), your age, and whether you and/or your spouse are covered by employer sponsored plans. For questions regarding tax treatment of IRA contributions please consult IRS Publication 590 and your tax advisor. What If I earned more than expected this year and no longer qualify for a Roth IRA but already made a contribution for this year? If you make a contribution to a Roth IRA, and then discover that your income will exceed the maximum allowed to contribute to a Roth IRA the amount contributed for that year can be recharacterized as a contribution for a Traditional IRA. If you elect to recharacterize a contribution, you must do so by your tax return due date (including extension). Can I convert my Traditional IRA to a Roth IRA? Yes. You can convert your Traditional IRA into a Roth IRA. You will be required to pay income taxes on the amount being converted in the year the assets are distributed from the Traditional IRA. Paperwork to convert your Traditional IRA to a BlackRock Roth IRA can be found in the Combined IRA Kit. Please consult with your tax advisor for additional information. Am I required to take money out of my IRA? You are not required to take money out of a Roth IRA. You are required to take a Required Minimum Distribution ( RMD ) from your Traditional IRA after you reach the age of years old. If you are the beneficiary of an IRA you may also be subject to RMDs. When can I take money out of my IRA? You can withdraw money from your IRA at any time. However any money you withdraw from a Traditional IRA before the age of 59½ may be subject to a 10% IRS penalty (in addition to taxes) unless it is being used for certain purposes. Roth contribution amounts can be withdrawn at any time, however, any money exceeding the amount made in contributions withdrawn from a Roth IRA prior to the age of 59½ may be subject to a 10% IRS penalty. Reasons for the penalty exemption can be found in the IRS publication 590. Additional Forms for your IRA: To take distributions from your BlackRock IRA, you will need the IRA Distribution Form. To transfer assets from another custodian to BlackRock, use the IRA Transfer of Assets/Direct Rollover Form. To convert Traditional IRA assets to a Roth IRA, use the Roth Conversion Form. To certify a rollover distribution from another IRA within 60 days of distribution, use the Rollover Certification Form. Where can I learn more about IRAs? The attached Custodial Agreement and Disclosure Statement have additional information about your BlackRock IRA. IRS Publication 590, available at or by calling the IRS, outlines the rules governing IRAs.

2 IRA Account Application (Traditional, Roth and SEP IRA) } All fields in Part 2 must be completed for each individual listed on the account, and will be verified as required by the USA PATRIOT Act. If any of these fields are not completed, it may delay or prevent us from opening your account. Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA Section 1: Check Which Type of IRA You Would Like to Establish Traditional IRA For individual IRA contributions which grow tax-deferred until a distribution is taken Rollover IRA For qualified retirement assets only funds from a qualified retirement plan or another Rollover IRA Roth IRA Similar to a Traditional IRA, however contributions are not tax-deductible and distributions may be tax free SEP IRA A Traditional IRA in which your employer can make qualified contributions on your behalf (your employer must participate). SEP Agreement IRS Form 5305-SEP must be included. Section 2: Registration for the New Account (Participant Information) Please Print Shares are to be registered in the name(s) and address indicated below. You must provide either your home address or an APO/FPO Post Office. A post office box may be added for mailing purposes only. First Name of IRA Account Owner M.I. Last Name Federal Tax Identification or Social Security Number Date of Birth (Month/Day/Year) First Name of Responsible Individual (if IRA owner is a minor) M.I. Last Name Federal Tax Identification or Social Security Number Date of Birth (Month/Day/Year) Street Number Street Name City State Zip Code Please use this address as the mailing address on my account: P.O. Box/Street Number Street Name City State Zip Code Questions? Call us toll-free at or visit us online at blackrock.com

3 Other Account Information: Home Telephone Business Telephone Address YES! I want to do my part to save paper, reduce my environmental impact and reduce expenses by turning off the paper. Please sign me up for E-Delivery of Prospectus, Annual reports, Daily Confirmations and Mailing list items. (To sign up for E-Delivery of your quarterly account statements and tax forms, please log in to your account at Employer Name (Required for SEP IRA Accounts Only) P.O. Box/Street Number Street Name City State Zip Code I have included a copy of the IRS Form 5305-SEP, completed and signed by my employer Section 3: Purchases at NAV I certify that I qualify for a sales charge waiver as stated in the Fund s prospectus (state reason here): Section 4: Investment Dealer Firm Name NSCC Dealer Number Representative s First Name M.I. Representative s Last Name Branch Number Representative s Number Telephone Number Street Number Street Name City State Zip Code Address Representative s Signature Date (Month/Day/Year) 3

4 Section 5: Investment Instructions Tell us which type of contribution, transfer or rollover you would like: Regular IRA Contribution for tax year: Current Year: $ Prior Year: $ SEP IRA only Employer Contribution: $ Other Source (check all that apply): ROLLOVER please attach the IRA Rollover Certification Form 60 Day Rollover Check. Type of IRA or Qualified Plan being rolled over: Direct Rollover from 401(k), 403(b), 457 or other Qualified Retirement Plan (excluding a Designated Roth Contribution Account) to a Traditional IRA Direct Rollover from a Designated Roth Contribution Account to a Roth IRA Qualified Rollover Contribution (conversion) into a Roth IRA from a 401(k), 403(b), 457 or other Qualified Retirement Plan TRANSFER OF ASSETS please attach a Transfer of Assets Form Traditional or SEP IRA transfer of assets held at another institution Roth IRA transfer of assets held at another institution CONVERSIONS OR RECHARACTERIZATIONS Enclosed is a check or Roth IRA Conversion Form Roth conversion rollover from an IRA Recharacterization contribution (the proceeds of a distribution from a traditional IRA or Roth IRA at another institution) Tell us how to allocate your investments: Please enclose your check made payable to BlackRock Funds. The minimum investment is $1, per fund (and may be lowered to $50.00 if you are making additional investments with an AIP you must complete section 7A); see the enclosed list for fund names. If a class of shares is not selected, the investment will be made in Investor A Shares (NOTE: If you do not have an Investment Dealer on your account, you may only invest in Investor A shares. Applications without an Investment Dealer that select Investor C shares will be returned to you.) Investor A shares are subject to a front-end sales charge, while Investor C shares are subject to a contingent deferred sales charge. Please review the prospectus for more detailed information. Fund Name Share Class Investment Amount A C $ or % A C A C A C A C $ or % $ or % $ or % $ or % Total Amount to Invest $ = 100% (Must include an estimated amount) The Fund reserves the right, in its sole discretion, to suspend the offering of shares of the funds or to reject purchase orders when, in the judgment of management, such suspension or rejection is in the best interest of the Fund; to modify or waive the minimum initial or subsequent investment for certain investors; and to redeem shares if information provided in this New Account Application should prove to be incorrect in any material manner (e.g., in a manner such as to render the shareholder ineligible to purchase shares of the fund). Shares will not be offered or sold in any jurisdiction to any person to whom it would be unlawful to make such offer or sale in such jurisdiction. 4

5 Section 6: Beneficiary Selection Note the share percentage must equal 100% for all Primary or all Contingent Beneficiaries. If neither the Primary nor the Contingent Beneficiary box is checked, the beneficiary will be deemed to be a Primary Beneficiary. If a trust is designated as a Beneficiary, please provide both the date of the trust and the name(s) of the trustee(s). In the event of my death, the balance in the account shall be paid to the Primary Beneficiaries who survive me in equal shares (or in the specified shares, if indicated). If none of the Primary Beneficiaries survive me, the balance in the account shall be paid to the Contingent Beneficiaries who survive me in equal shares (or in the specified shares, if indicated). I understand that, unless I have specified otherwise, if I name multiple Primary Beneficiaries and a beneficiary does not survive me, such interest is terminated and that percentage will be divided proportionately among the remaining Primary Beneficiaries. Similarly, unless I have specified otherwise, if no Primary Beneficiary survives me and I have named multiple Contingent Beneficiaries and a beneficiary does not survive me, such interest is terminated and that percentage will be divided proportionately among the remaining Contingent Beneficiaries. I understand that I may change my beneficiaries at any time by giving written notice to the Custodian. If I do not designate a beneficiary, or if all designated beneficiaries predecease me, my surviving spouse will become the beneficiary of my IRA. If I do not have a surviving spouse at the time of my death, my estate will become the beneficiary of my IRA. Per Stirpes Beneficiary Designations: The Custodian shall accept as complete and accurate all written instructions provided in good order by the estate/executor with regard to the identification of the beneficiaries and the allocations thereto. Participant s Designation: In the event of my death, I hereby designate the following individuals as the Primary and Contingent Beneficiary(ies) to receive all benefits that may become due and payable under my IRA. If I name a beneficiary that is a Trust, I understand that I must provide certain information concerning the Trust to the Custodian. Choice A Primary Contingent Relationship: Percentage: % First Name M.I. Last Name OR Name of Trust, Foundation or Other Legal Entity; Name of Responsible Individual (if beneficiary is a minor) Social Security Number (or Tax ID of Trust, Foundation, etc) Date of Birth (or Date of Trust, if beneficiary is a trust) Choice B Primary Contingent Relationship: Percentage: % First Name M.I. Last Name OR Name of Trust, Foundation or Other Legal Entity; Name of Responsible Individual (if beneficiary is a minor) Social Security Number (or Tax ID of Trust, Foundation, etc) Date of Birth (or Date of Trust, if beneficiary is a trust) Choice C Primary Contingent Relationship: Percentage: % First Name M.I. Last Name OR Name of Trust, Foundation or Other Legal Entity; Name of Responsible Individual (if beneficiary is a minor) Social Security Number (or Tax ID of Trust, Foundation, etc) Date of Birth (or Date of Trust, if beneficiary is a trust) Note: Consent of the Participant s spouse may be required in a community property or marital property state to effectively designate a beneficiary other than, or in addition to, the Participant s spouse. Disclaimer for Community and Marital Property States: The Participant s spouse may have a property interest in the account and the right to dispose of the interest by will. Therefore, any sponsors, issuers, depositories and other persons or entities associated with the investments and the Custodian specifically disclaim any warranty as to the effectiveness of the Participant s beneficiary designation or as to the ownership of the account after the death of the Participant s spouse. For additional information, please consult your legal advisor. I consent to the Beneficiary Designation Signature of Spouse Date (Month/Day/Year) 5

6 Section 7: Options ALL dividend and capital gains options will be set to reinvest. If you wish to take these distributions in cash, you must provide us with an IRA Distribution Form. A. AUTOMATIC INVESTMENT PLAN (AIP) The Automatic Investment Plan (AIP) permits investments in BlackRock Fund account(s) on a periodic basis. BNY Mellon Investment Servicing Trust Company will periodically electronically debit your financial institution checking account or non-passbook savings account and credit your BlackRock Fund account(s) on the specific date you select (e.g., May 12). If you do not provide a specific date, the AIP transaction will occur on the 15th of the month. Minimum initial and subsequent investment is $50 per fund. The Automatic Investment Plan cannot be used in conjunction with the Systematic Withdrawal Plan. A savings and loan or credit union may not be able to honor electronic debits. Please check with your financial institution. Fund Name Investment Amount Frequency $ c, c c c, c c c. c c $ c, c c c, c c c. c c $ c, c c c, c c c. c c $ c, c c c, c c c. c c Total: $ My contribution to the funds marked above will take place on the (i.e. 15th) of the month, beginning in the month of (i.e. April). If you do not indicate a date of the month, then we will default to the 15th of the month. For SEP IRA only: Personal IRA Contribution or Employer Contribution To utilize the AIP on your account, you must complete the EZ Trader section below. Bi-weekly Monthly Quarterly Semiannual Annual B. EZ TRADER Allows you to purchase or sell fund shares by telephone or over the Internet through the Automated Clearing House (ACH) network. Note: Your bank must be a member of the ACH. A savings and loan or credit union may not be able to honor electronic debits. Please check with your financial institution. Bank Account Holder s First Name M.I. Last Name Name of Bank Account Number Routing Number (ABA Number) Checking Savings Attach a voided check, personalized savings deposit slip or bank statement below. Section 7: Options (continued) John A. Sample 123 Same Street Anywhere, USA /4556 PAY TO THE ORDER OF $ Any Bank USA Memo DOLLARS Routing Number Account Number For SEP IRA only: If the bank account is not in the name of the IRA account owner, the bank account owner/authorized signer must sign below: Bank Account Holder s Name Signature of Bank Account Owner or Authorized Party 6

7 C. REDUCED SALES CHARGE Using Rights of Accumulation and/or Letter of Intent, the investor(s) should meet the following breakpoint level (check one): $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 Rights of Accumulation (ROA) I apply for Rights of Accumulation, under which the current value of my existing holdings of BlackRock Funds and the BlackRock CollegeAdvantage 529 Program (subject to the Agent s confirmation of the following holdings) may be combined with the amount of the current purchase to qualify for a breakpoint and reduced sales charge in Investor A Shares. Letter of Intent (LOI) I agree to the Letter of Intent provisions of the prospectus. Although I am not obligated to purchase, and the Fund is not obligated to sell, I intend to invest an aggregate amount in the BlackRock Funds at least equal to the amount checked above, over a 13-month period beginning on. Please note: purchases made prior to Date (Month/Day/Year) the start date of the LOI are not counted toward the breakpoint. List Portfolio account numbers to be linked for the reduced sales charge. Please list accounts held directly with BlackRock as well as any BlackRock funds in accounts held through a financial intermediary that you wish to combine for Rights of Accumulation or Letter of Intent. *Please note: accounts held through a financial intermediary may not be visible to BlackRock; therefore we may not be able to link the accounts. If you wish to include assets in BlackRock Funds held through a financial intermediary, you must include the most recent statement detailing the holdings in BlackRock Funds from the financial intermediary. For Letter of Intent, the statement must show all purchases made during the 13-month Letter of Intent period. Please call us with any questions prior to submitting this application. BlackRock Account Number Brokerage Account Number* Registration of Account BlackRock Account Number Brokerage Account Number* Registration of Account BlackRock Account Number Brokerage Account Number* Registration of Account D. TELEPHONE REDEMPTION AND EXCHANGE No, I do not want to have Telephone Redemption or Exchange on my account. Your Account will automatically be coded with the Telephone Redemption and the Telephone Exchange Privileges, unless you check the No box above. Details about these privileges are available in the Fund s prospectus. E. TAX WITHHOLDING ON REDEMPTIONS Federal Tax Withholding Election (REQUIRED) Distributions from IRAs and qualified retirement plans that are not eligible for rollover are subject to federal income tax withholding (generally 10%) unless you affirmatively elect an additional amount or to NOT have withholding apply to such payments. Please select one: Do NOT withhold federal income tax Withhold 10% federal income tax Withhold % federal income tax (must be more than 10%) State Tax Withholding Election Your state of residence will determine your state income tax withholding requirements, if any. Those states with mandatory withholding may require state income tax to be withheld from payments if federal taxes are withheld or may mandate a fixed amount regardless of your federal tax election. Voluntary states let individuals determine whether they want state taxes withheld, while some states have no income tax on retirement payments. You may wish to consult with a tax advisor for additional information on your state s requirements. For Mandatory States Only: For Voluntary States Only: I elect to NOT withhold state income tax I elect to have the following amount or percentage retirement account distributions. retirement account distributions. (applies only if electing out of $ or % federal withholding) 7

8 Section 8: Signature I, the Participant, acknowledge receiving and reading the Traditional and Roth IRA Application and Adoption Agreement Instructions, the Traditional IRA and Roth IRA Combined Disclosure Statement, the Traditional IRA Custodial Account Agreement, the Roth IRA Custodial Account Agreement and the Privacy Notice (the Account Documents ). I acknowledge receiving and reading the current prospectus for each Mutual Fund I may have designated for investment. The Custodian, upon proper instructions from me, is authorized to exchange a Mutual Fund for any other Mutual Fund and to purchase a Mutual Fund with the proceeds of any redemption. I agree that this IRA becomes effective only upon written acceptance by the Custodian and that such written acceptance will consist of a confirmation of transaction statement. I agree that the Custodian may amend (add to, delete from or revise) any term of the Agreement at any time by notice to me and that my sole remedy if I disagree with the amendment is to transfer funds in the IRA Account to another custodian. I agree that the Agreement is binding on me and on my successors in interest. Each contribution to my IRA will be invested in accordance with the written instructions I provide with respect to that contribution. In the event that this is a rollover contribution, the undersigned hereby irrevocably elects, pursuant to the requirements of Section 1.402(a)(5)-1T of the IRS regulations, to treat this contribution as a rollover contribution. Custodial Fees: $15.00 annual maintenance fee per fund account per year. This fee is owed and due for each full and partial calendar year that the IRA Account is open. The participant may pay the fee with funds other than those in the IRA Account ( non-custodial funds ). If the fee for a calendar year is not paid by the participant from non-custodial funds by the date reasonably designated by the Custodian or prior to closing the IRA Account, the Custodian is authorized to deduct the fee from funds in the IRA Account at any time immediately after such payment due date or immediately after receiving instructions to close the IRA Account. The Custodian is authorized to change the fee but will give at least 30 days written notice to the participant of any fee change. The Custodian will keep those records, identify and file returns and provide other information concerning the IRA as required of custodians by the Internal Revenue Code and any regulations issued or forms adopted by the Internal Revenue Service or U.S. Treasury Department. I direct that all benefits upon my death be paid as indicated on the beneficiary designation. If I named a beneficiary that is a Trust, I understand I must provide certain information concerning such Trust to the Custodian. I (the Participant) certify under penalties of perjury that (i) all information I have provided on this form or otherwise in connection with establishing my IRA is true, correct, and complete, and (ii) I am a US person (including a US resident alien) and that my Social Security Number is true, correct and complete and that this number is my Taxpayer Identification Number. To help the U.S. Government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies persons opening accounts; To comply, the Custodian requires the participant s name, address, date of birth and government-issued identification number (generally, a Social Security Number) and other information that may help the Custodian identify the participant; and the Custodian may ask for copies of related documentation and may consult third-party databases to help verify the participant s identity. I have read and I understand the Disclosure Statement which explains the risks of opening this account if I do not provide all requested identification materials or if my identity cannot be adequately verified in accordance with U.S. Government requirements. Participant s Signature (Or responsible Individual in the case of a minor IRA) Date (Month/Day/Year) IRA Custodian: BNY Mellon Investment Servicing Trust Company (formerly PFPC Trust Company, renamed effective July 1, 2011). } All fields in Part 2 must be completed and will be verified as required by the USA PATRIOT Act. If any of these fields are not completed, it may delay or prevent us from opening your account. } Be sure to include any additional forms, if necessary, such as the IRA Rollover Certification, Roth IRA Conversion Request Form or IRA Transfer of Assets/Direct Rollover Form with your application. Send this completed and signed application to: } Regular Mail } Overnight Mail BlackRock Funds BlackRock Funds P.O. Box Computer Dr. Providence, RI Westborough, MA BlackRock, Inc. All Rights Reserved. Lit. No. IRA-APP A-RET-0814

9 New Account Application Checklist To ensure that we are able to establish your account accurately, we recommend that you use this checklist to help you to complete the account application. You should have a discussion with your financial advisor prior to making your investment decisions. All Account Types Review the account Registration section to make sure that all fields were completed for each individual listed on the account. If any of the fields are not completed, or if the information cannot be verified, this application will be returned to you (as required by the USA PATRIOT Act). If you are investing by check, be sure that the check is made payable to BlackRock Funds, and that the check is in good order (completed correctly, signed, etc. Temporary or starter checks may not be accepted). Review your investment allocation to ensure the correct fund names are listed, the allocation is accurate (and equals the amount of the investment), and that the investments in each fund meet the minimum investment amount. Non-retirement Accounts If you are establishing a trust account, please include a copy of the first, last & signature pages, as well as any pages that list the names of any trustees, co-trustees, or successor trustees. We do not need every page of the trust document. If you are establishing a corporate or any type of business account, you should provide a copy of a corporate resolution, certificate of incumbency or other document listing who is authorized to sign. Requesting Checkwriting? Be sure to sign the Checkwriting section and indicate how many signatures will be required to accept a check. Power of Attorney or transfer on death accounts require an additional form. Be sure it s included. Have your Financial Advisor complete and review the Investment Dealer section. Add your bank instructions for future purchases and redemptions. Sign up for E-Delivery! Save paper, reduce costs and minimize your mailings by signing up for E-Delivery of your statements, reports, confirmations, etc. Review your Social Security number / taxpayer identification number for accuracy. If this number is incorrect, it may affect your tax reporting. Be sure that each individual listed on the account has signed the application in the Signature section. IRA Accounts Verify that you are eligible to fund an IRA. Please review IRS eligibility guidelines in the FAQ and the Disclosure Statement, or by talking with your financial advisor. If you are funding your account with a rollover or transfer of assets from another custodian, be sure to complete and attach the IRA Transfer of Assets/Direct Rollover Form or Rollover Certification Form. If you are funding with a contribution, please verify that the contribution amount does not exceed the maximum IRA contribution for the year your investment is being made. IRA contributions should be clearly marked Current Year or Prior Year (prior year contributions must be made on or before the tax filing deadline). Review the Beneficiary Selection to ensure all fields are completed and the allocation equals 100%. You are now ready to mail your completed application (and any other paperwork) to BlackRock to open your account! 2014 BlackRock, Inc. All Rights Reserved. Lit. No. APP-CHECKLIST A-RET-0614

10 Mutual Fund Range US Equity Sector and Mixed Asset Value Core Growth Sector Large Cap Mid Cap Small Cap Multi-Cap Basic Value (MDBAX) Equity Dividend (MDDVX) Large Cap Value (MDLVX) Mid Cap Value Opportunities (MDRFX) Value Opportunities (MDSPX) Large Cap Core (MDLRX) Large Cap Core Plus (BALPX) Russell 1000 Index (BRGAX) S&P 500 Stock (BSPAX) US Opportunities (BMEAX) Disciplined Small Cap Core (BDSAX) Small Cap Index (MDSKX) Flexible Equity (BMCAX) Capital Appreciation (MDFGX) Focus Growth (MDFOX) Large Cap Growth (MDLHX) Mid-Cap Growth Equity (BMGAX) Small Cap Growth Equity (CSGEX) Small Cap Growth II (MDSWX) All-Cap Energy and Resources (BACAX) Commodities Strategies (BCSAX) Energy and Resources (SSGRX) Mixed Asset Balanced Capital (MDCPX) Global Allocation (MDLOX) Managed Volatility (PCBAX) Multi-Asset Income (BAICX) Multi-Asset Real Return (BRRAX) Health Sciences Opportunities (SHSAX) Natural Resources (MDGRX) Real Estate Securities (BAREX) Strategic Risk Allocation (BSTAX) Science and Technology Opportunities (BGSAX) Prepared Portfolios Conservative (BACPX) Moderate (BAMPX) Growth (BAGPX) Aggressive (BAAPX) World Equity Regional Global International EuroFund (MDEFX) Latin America (MDLTX) Pacific (MDPCX) Global Dividend (BABDX) 1 Global Long / Short Equity (BDMAX) Global Opportunities (BROAX) Global Small Cap (MDGCX) ACWI ex-us Index (BDOAX) Emerging Markets (MDDCX) Emerging Market Allocation (BEEAX) Emerging Market Dividend (BACHX) 2 Long-Horizon Equity (MDEGX) Emerging Markets Long / Short (BLSAX) International (MDILX) International Index (MDIIX) International Opportunities (BREAX) Taxable Fixed Income Short Intermediate Long Floating Rate Income (BFRAX) Low Duration Bond (BLDAX) GNMA (BGPAX) US Government Bond (CIGAX) US Mortgage (BMPAX) Bond Index (BMOAX) CoreAlpha Bond (BCRAX) Core Bond (BCBAX) Investment Grade Bond (BLADX) 4 Total Return (MDHQX) High Yield Global / International Other High Yield Bond (BHYAX) Secured Credit (BMSAX) Emerging Markets Flexible Dynamic Bond (BAEDX) 3 World Income (MDWIX) Global Long/Short Credit (BGCAX) Inflation Protected Bond (BPRAX) Strategic Income Opportunities (BASIX)

11 Municipal Fixed Income Short High Yield National State-Specific Short-Term Municipal (MELMX) High Yield Municipal (MDYHX) National Municipal (MDNLX) Strategic Municipal Opportunities (MEMTX) 6 California Municipal Bond (MECMX) New Jersey Municipal Bond (MENJX) New York Municipal Bond (MENKX) Pennsylvania Municipal Bond (MEPYX) BlackRock LifePath Active Portfolios 2015 (BAPBX) 2020 (BAPCX) 2025 (BAPDX) 2030 (BAPEX) 2035 (BAPGX) 2040 (BAPHX) 2045 (BAPJX) 2050 (BAPKX) 2055 (BAPLX) BlackRock LifePath Portfolios Retirement (LPRAX) 2020 (LPRCX) 2025 (LPBAX) 2030 (LPRDX) 2035 (LPJAX) 2040 (LPREX) 2045 (LPHAX) 2050 (LPRFX) 2055 (LPVAX) BlackRock LifePath Index Portfolios Retirement (LIRAX) 2020 (LIQAX) 2025 (LILAX) 2030 (LINAX) 2035 (LIJAX) 2040 (LIKAX) 2045 (LIHAX) 2050 (LIPAX) 2055 (LIVAX) BlackRock CoRI Portfolios 2015 (BCVAX) 2017 (BCWAX) 2019 (BCXAX) 2021 (BCYAX) 2023 (BCZAX) 1 Effective 9/23/13, the BlackRock Global Dividend Income Fund changed its name to the Global Dividend Fund. 2 Effective 8/16/13, the BlackRock China Fund changed its name to the Emerging Market Dividend Fund. 3 Effective 1/2/14, the BlackRock Emerging Market Local Debt Fund changed its name to the Emerging Markets Flexible Dynamic Bond Fund. 4 Effective 7/29/13, the BlackRock Long Duration Bond Fund changed its name to the Investment Grade Bond Fund. 5 Effective 1/27/14, the BlackRock Intermediate Municipal Fund changed its name to the Strategic Municipal Opportunities Fund. Symbols shown are for the Investor A share class. Visit for information on other share classes. Investing involves risk including possible loss of principal. Please consider the investment objectives, risks, charges and expenses of each fund carefully before investing. Each fund s prospectus and, if available, the summary prospectus contain this and other information about the fund, and are available, along with information on other BlackRock funds by calling or from your financial professional. The prospectus and, if available, the summary prospectus should be read carefully before investing. FOR MORE INFORMATION: BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc., or its subsidiaries in the US and elsewhere. All other trademarks are those of their respective owners. Prepared by BlackRock Investments, LLC, member FINRA. Not FDIC Insured May Lose Value No Bank Guarantee RANGE-CARD-0414 USR-3672