Common use of Principal Risks of Investing Clause in Contracts

Principal Risks of Investing. The Fund is subject to the risks of inflation-indexed bonds, fixed-income investments and non- investment grade securities. Additional principal risks are identified in the Fund’s prospectus. BlackRock Low Duration Bond Portfolio

Principal Risks of Investing. The Fund is subject to the risks of inflation-indexed bonds, fixed-income investments and non- investment grade securitiesjunk bonds. Additional principal risks are identified in the Fund’s prospectus. BlackRock Low Duration Bond Strategic Income Opportunities Portfolio

Principal Risks of Investing. The Fund is subject to the risks of inflation-indexed bonds, fixed-income investments and non- investment grade mortgage- and asset-backed securities, and U.S. Government issuer risk. Additional principal risks are identified in the Fund’s prospectus. NON-INVESTMENT GRADE FIXED INCOME FUNDS‌‌ BlackRock Low Duration High Yield Bond Portfolio