On April 26, 2024, Bluebell Capital Partners Limited announced that it has sent a proposal letter to BlackRock and response. Bluebell Capital informed the Company that Bluebell Capital is prepared to withdraw its proposal to amend the Bylaws, subject to the following condition: BlackRock must irrevocably commit to adopting a policy to be effective from BlackRock?s AGM 2025, that mandates an independent Board Chair, with an announcement to be made to the market by April 15, 2024, to disclose it. In response, Andrew Dickson the Managing Director & Corporate Secretary of the Company stated that the Company is not accepting the terms Bluebell Capital has offered and will let its proposal go to a vote at the Company annual meeting.