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BlackRock has implemented certain restrictions associated with specific account types. For example, on retirement accounts with BNY Mellon Investment Servicing Trust Company coded as the custodian, you may only request exchanges. If you wish to make a contribution or request a distribution from such retirement accounts, you must contact the Fund's transfer agent, The Bank of New York Mellon Corporation. For retail (non-retirement) accounts, you may purchase shares only if you have banking instructions on file. We will automatically debit your designated bank account for settlement. Redemption orders will be accepted only on accounts with the telephone redemption privilege. Proceeds on redemptions will be mailed in the form of a check to the address of record unless banking instructions have been established on your account. If you would like to add banking instructions to your retail account, please contact Customer Service at (800) 441-7762 for assistance. Any transaction conducted using the On-line Services will be posted to your account at 4:00 PM EST and the price used to value the shares is the net asset value next determined after the transaction has been completed. Please note a redemption request cannot exceed $25,000 per account per day for retail accounts and $100,000 per account per day for 529 accounts.

1. Internet Services. This Agreement ("Agreement") between BlackRock Funds (the "Fund") and myself sets forth the terms on which I am permitted to use the On-line Services. The words "I", "my" and "me" in this Agreement mean each person who has an interest in the Fund account which is accessible through the On-line Services and any person authorized to have such access. On-line Services, for purposes of this Agreement, include the on-line services currently offered and which may be offered in the future by the Fund for mutual fund transactions and account inquiry, and any other on-line system made available to the Fund shareholders by the Fund or its agents or service providers. The On-line Services permit me to transmit electronically requests to buy, redeem and exchange shares of the Fund. These services are available for use with compatible computers with modems that can connect to the Internet.
2. Agreement Governs. I will use the On-line Services only on the terms set forth in this Agreement. The terms of my Fund account application and the applicable prospectus govern my account. Those terms are deemed to be part of this Agreement.
3. Sole User. I will be the only authorized user of the On-line Services under this Agreement and I will not make the On-line Services available to anyone else. I will keep my security code(s) and other security information (all such codes and information, "security information") confidential. I will be solely responsible for all requests for transactions and information (and the use of the information) transmitted through the On-line Services using my security information. The Fund is not obligated to inquire as to the authority or accuracy of my instructions transmitted through the On-line Services and will be entitled to act upon my instructions; and the Fund will not be liable for any loss, expense or other liability arising out of my instructions transmitted through the On-line Services. Telephone calls to the Fund may be recorded, and I consent to that recording.
4. Duty to Monitor Account. I understand that requests for transactions, rather than orders, are transmitted through the On-line Services. I understand that the on-line acknowledgments or other messages that appear on my screen for transactions entered do not mean that transactions have been received, accepted or rejected by the Fund. These acknowledgements are only an indication that the transactional information entered by me has either been transmitted to the Fund, or that it cannot be transmitted. The Fund will not be deemed to have received or accepted any transaction request I transmit through the On-line Services until the Fund has provided me a written confirmation. All transaction requests will be deemed to have been made in the form received by the Fund. I am responsible for verifying the accuracy and receipt of all information transmitted via the On-line Services and for immediately notifying the Fund's transfer agent, BNY Mellon, of any errors or inaccuracies relating to information transmitted via the On-line Services. I am responsible for monitoring my account. I will immediately notify the Fund if:
a. a request for a transaction has been placed through the On-line Services and I have not received a reference number reflecting the request;
b. a request for a transaction has been placed through the On-line Services and I have not received an accurate written confirmation of the transaction within seven (7) business days;
c. I have received confirmation of a transaction which I did not request or any other report conflicting with information about my account;
d. there is unauthorized use, loss or theft of any of my security information;
e. there is a discrepancy between any transaction I requested and the information reflected in a confirmation or account statement.
If I do not notify the Fund when any of the foregoing conditions occur, neither the Fund nor any of its employees, agents, affiliates nor any third parties, will be liable to me for the handling or loss of any transaction request.
5. My Obligations. I agree to use an Internet browser and Internet service provider that support Secure Sockets Layer, 128-bit encryption and to follow the Fund's logon procedures for On-line Services. If I experience any problems using the Internet or reaching the On-line Services, I agree to use alternate methods (such as telephone, mail or fax machine) to communicate with the Fund and its agents. I agree to be bound by any consents or acknowledgments on which I "clicked" while using the Web sites involved in the On-line Services. I will not use the On-line Services for any purpose that is unlawful, threatening, abusive, harassing, libelous, defamatory or obscene.
6. Limitations of Liability. If I do not notify the Fund or BNY Mellon promptly of discrepancies as required under this Agreement, neither the Fund nor its agents will have any responsibility or liability to me or any person whose claim arises through me for any claims with respect to the occurrence I failed to report. I understand that the Fund and BNY Mellon reserve the right to evaluate my objection to a transaction.
I agree that neither the Fund, BNY Mellon nor any other Fund agent shall be liable for any losses resulting from technical problems, including but not limited to, failure or malfunction of electronic or mechanical equipment, communication lines, telephone or other interconnect problems (for example, if I am unable to access my online service provider), unauthorized access, theft, operator errors, strikes or labor problems or other occurrences beyond its control.
The Fund will not be liable for interception of information transmitted via the Internet nor responsible for access to, or the speed or availability of, the Internet or the On-line Services. In addition, neither the Fund, BNY Mellon nor any other Fund agent shall be liable for losses caused directly or indirectly by government restriction, exchange or market rulings, suspension of trading, war, earthquakes or any other conditions beyond the control of the Fund, BNY Mellon or other Fund agent, respectively.
Notwithstanding anything to the contrary contained in this Agreement, the maximum liability of the Fund or its agents arising out of any kind of legal claim (whether in contract, tort or otherwise) in any way connected with the On-line Services shall not exceed $500 in the aggregate.
7. Information from Outside Sources. The Fund will not be responsible for the accuracy or completeness of any information provided by outside sources through the On-line Services. My transmissions through the On-line Services are at my sole risk. Nothing in this Agreement or the On-line Services shall be interpreted as a solicitation, recommendation, endorsement or offer to buy or sell securities or other financial instruments nor should it be construed as legal, tax, investment, financial or other advice. The fund has no responsibility or liability regarding the content or use of sites that the On-line Service may provide links to.
8. Outside Services. My Internet service provider may charge me for time spent on line. I will be responsible for all expenses that I (or any person using my security information or equipment) incur in connection with using the On-line Services. I agree that the Fund is not responsible for notifying me of any upgrades or enhancements to "browser" software. There are no assurances that the On-line Services will be available at all times and the Fund shall have no liability to me for any unavailability of the On-line Services.
9. Account Application and Prospectus. The terms of my Fund account application and the applicable prospectus govern my account. Those terms are deemed to be part of this Agreement. I understand that the Fund is available only to U.S. investors, and shares of certain investment portfolios may not be offered and sold in all states. Reference to a fund or security anywhere in this Agreement or the On-line Services is not a recommendation to buy, sell or hold that or any other security. I am responsible for reviewing all mutual fund account information viewed on this site in order to verify the accuracy of such information and all transactions entered through this site. I am also responsible for promptly notifying the Fund of any errors or inaccuracies relating to information contained in, or omitted from my mutual fund account information, including errors or inaccuracies arising from the transactions conducted through this site.
TRANSACTIONS ARE SUBJECT TO ALL REQUIREMENTS, RESTRICTIONS AND FEES AS SET FORTH IN THE PROSPECTUS OF THE SELECTED FUND.
10. Confidentiality. The Fund and BNY Mellon may record and save any of your communications via the On-line Services, just as they may record and save telephone conversations. The Fund and BNY Mellon shall treat as confidential all such communications; except to the extent required by law or by order or requirement of any court or governmental authority. On-line Services are the proprietary property of the Fund and/or third parties. I will keep confidential and not re-disseminate the information or services provided through the On-line Services.
11. Indemnification. I agree to indemnify and hold harmless the Fund, BNY Mellon and any other Fund agents from any and all claims, losses, liabilities, costs and expenses (including but not limited to attorneys' fees) arising from any violation of this Agreement, state or federal securities laws or regulations, or any third party's rights, including but not limited to copyright, proprietary and privacy rights.
12. Personal Financial Information. Use of the On-line Services may involve the transmission from or to me of personal financial information (such as the amount and price of securities that I buy or sell). I consent to the transmission of that information through the On-line Services at all times that I use the On-line Services.
13. Severability. If a court, regulatory agency or body holds any provision of this Agreement invalid or unenforceable, such invalidity or unenforceability shall attach only to that provision. The validity of the remaining provisions will not be affected.
14. Discontinuance of On-line Services. The Fund may discontinue or modify the terms of the On-line Services in whole or in part at any time or from time to time and may deactivate my user ID, passwords, security code(s) and other security information if it believes that I have violated the terms and conditions hereof or have used the On-line Services in a manner inconsistent with these terms and conditions.
15. On-line Services Software License. My use of any On-line Services software is subject to the terms of the following License ("License"). I agree to be bound by the terms of this License, including without limitation the prohibitions on distribution and copying, the exclusion of all representations and warranties, and the limitation of remedies to the replacement of defective disks.
a. Grant of License. This License permits me to access the On-line Services software ("Application") from each computer in my household, and a single computer at my workplace, in the United States. This License is subject to my compliance with the terms of this Agreement and the Fund security procedures established for Application users. This Agreement is my proof of license to exercise the rights granted herein and must be retained by me. I may not rent, lease or transfer my rights to access the Application.
b.Copyright. The Application is owned by the Fund or its suppliers and is protected by United States copyright laws and international treaty provisions. Therefore, I must treat the Application like any other copyrighted material (e.g., a book or musical recording) except that I may either (a) copy or download information solely for backup or archival purposes, or (b) transfer the information to a single hard disk provided I keep the original solely for backup or archival purposes. I may not distribute the on-line contents in any way, without explicit written notice from the Fund.
c. Restricted Rights. I may not redistribute, sell, decompile, reverse engineer, disassemble or otherwise reduce the Application to any other form whatsoever.
16. No Warranty. I expressly agree that the use of the On-line Services, including the transmission and storage of any information through such use of the On-line Services, is at my sole risk and responsibility. NEITHER THE FUND NOR ANY THIRD PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT WITH RESPECT TO THE ON-LINE SERVICES, THE APPLICATION, ANY ACCOMPANYING ON-LINE MATERIALS, OR ANY INFORMATION PROGRAMS OR PRODUCTS OBTAINED FROM, THROUGH, OR IN CONNECTION WITH ANY OF THE FOREGOING. IN NO EVENT WILL THE FUND OR ANY THIRD PARTY BE LIABLE FOR, INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION, LOSS OF GOODWILL, WORK STOPPAGE, COMPUTER FAILURE OR MALFUNCTION, SPECIAL DAMAGES OR OTHER PECUNIARY LOSS ARISING OUT OF OR RESULTING FROM ANY DEFECT IN, INABILITY TO ACCESS, OR USE OF THE ON-LINE SERVICES OR THE APPLICATION, EVEN IF THE FUND OR ANY THIRD PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND WHETHER SUCH CLAIM IS BASED ON BREACH OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT LIABILITY, MISREPRESENTATION, CLAIMS FOR FAILURE TO EXERCISE DUE CARE IN THE PERFORMANCE OF SERVICES OR OTHERWISE. I AGREE THAT THE USE OF THE ON-LINE SERVICES IS AT MY RISK AND THE ON-LINE SERVICES ARE PROVIDED "AS IS". THE FUND TAKES ALL REASONABLE MEASURES TO ENSURE THE SITE, THE MATERIAL ON THE SITE AND THE ON-LINE SERVICES ARE AS ACCURATE AND TIMELY AS POSSIBLE AND THAT DISRUPTIONS OF SERVICE ARE MINIMAL. BUT THE FUND MAKES NO WARRANTY OR GUARANTEE CONCERNING THE UNINTERRUPTED AVAILABILITY OF THE ON-LINE SERVICES, INCLUDING THIS SITE OR THE SERVICES OR INFORMATION ON IT. PARTICIPATING IN THE ON-LINE SERVICES INVOLVES SENDING AND RECEIVING PERSONAL FINANCIAL INFORMATION OVER THE INTERNET, AND POTENTIALLY OTHER ELECTRONIC NETWORKS AND THERE MAY BE CERTAIN ASSOCIATED RISKS. ON RARE OCCASIONS PROBLEMS MAY ARISE, SUCH AS EMAILS FAILING TO TRANSMIT, LINKS FAILING TO FUNCTION PROPERLY OR A SYSTEM FAILURE AT MY ON-LINE SERVICE PROVIDER. I AM COMFORTABLE WITH THE EFFORTS OF THE FUND TO SAFEGUARD MY ACCOUNT INFORMATION. HOWEVER, I UNDERSTAND THAT EVEN WITH THE SECURITY THE FUND HAS IN PLACE, THE FUND CANNOT GUARANTEE THE CONFIDENTIALITY OF ANY INFORMATION TRANSMITTED OVER THE INTERNET OR OTHER ELECTRONIC NETWORKS. I ASSUME THE ENTIRE RISK RELATED TO MY PARTICIPATION IN THE ON-LINE SERVICES.
Because some states do not allow the exclusion or limitation of warranties or of liability for consequential or incidental damages, the above limitation may not apply to me. No oral advice or written information given by the Fund or any of its employees or agents will create a warranty, and I will not rely on any such information or advice. The Fund does not warrant that the On-line Services will be uninterrupted or error-free, that defects will be corrected, or that the Website or the server that makes it available are free of viruses or other harmful components. I understand that an undetected or unrepaired virus may corrupt and destroy my programs, files and hardware, and that the virus may be unintentionally transmitted to other computers.
17. Assignment. I may not assign this Agreement or any rights or obligations hereunder without the consent of the Fund. The Fund may assign this Agreement or any of its rights or obligations under this Agreement without notice to me.
18. Notices. All notices to the Fund under this Agreement will be directed to: For 529 Accounts:
BlackRock Funds
PO Box 534433
Pittsburgh, PA 15253-4433
(866) 529-8582
For All Other Accounts:
BlackRock Funds
PO Box 534429
Pittsburgh, PA 15253-4429
(800) 441-7762

19. Termination; Amendment; No Waiver. The Fund may terminate this Agreement or amend it in whole or in part by notice to me. This Agreement may not be amended in any other manner. The failure or delay of the Fund to enforce any provision of this Agreement will not be construed as a waiver of such provision. I may terminate this Agreement by notifying the Fund in writing. This Agreement will also terminate if I fail to comply with any condition of this Agreement, and I agree that upon such termination I shall halt access to the On-Line Services, the Application and all on-line documentation.
20. Governing Law. This Agreement is governed by the laws of the State of Delaware except for conflict of law provisions. Captions in this Agreement are included for convenience of reference only and do not effect the construction or effect of the provisions of this Agreement.
21. No Bank Guarantee. I understand that shares of the Fund are not bank deposits or obligations of, or guaranteed, endorsed or otherwise supported by any Bank or affiliate, and are not federally insured or guaranteed by the U.S. government, Federal Deposit Insurance Corporation, Federal Reserve Board, or any other governmental agency.
22. Other. This agreement, and any agreements or documents incorporated herein, are the sole and complete agreements of the parties with respect to its subject matter. The Fund shall not have any responsibility or liability for its delay or failure to perform due to causes beyond its reasonable control and the time for such performance shall be extended by the time of such delay.
23. No fees for site use. The Fund does not charge any fees for participating in the On-line Services, but I may incur Internet access or other related charges from third parties, such as my electronic service provider.
24. Authority to accept this Agreement. I agree, represent and warrant that I have full authority to accept this Agreement.

I understand that accessing and/ or processing transactions through the On-line Services constitutes my consent to the terms of this Agreement. I have read and agree to the terms and conditions set forth in this Agreement.

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