SCHEDULE A Master Advisory Fee Waiver Agreement for iShares, Inc. (Amended as of June 8, 2023) (all percentages are expressed as a percentage of average daily net assets):

Exhibit (d.5)

SCHEDULE A

Master Advisory Fee Waiver Agreement for iShares, Inc.

(Amended as of June 8, 2023)

(all percentages are expressed as a percentage of average daily net assets):

		Fund		Advisory Fee Waiver		Last Day of Term
EMXC		iShares MSCI Emerging Markets ex China ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the aggregate Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and iShares, Inc. Acquired Fund Fees and Expenses reflect the Fund’s pro rata share of the fees and expenses incurred indirectly by the Fund as a result of investing in other investment companies.		December 31, 2027
VEGI		iShares MSCI Agriculture Producers ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the aggregate Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and iShares, Inc. Acquired Fund Fees and Expenses reflect the Fund’s pro rata share of the fees and expenses incurred indirectly by the Fund as a result of investing in other investment companies.		December 31, 2023
PICK		iShares MSCI Global Metals & Mining Producers ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the aggregate Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and iShares, Inc. Acquired Fund Fees and Expenses reflect the Fund’s pro rata share of the fees and expenses incurred indirectly by the Fund as a result of investing in other investment companies.		December 31, 2023
DVYE		iShares Emerging Markets Dividend ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the aggregate Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and iShares, Inc. Acquired Fund Fees and Expenses reflect the Fund’s pro rata share of the fees and expenses incurred indirectly by the Fund as a result of investing in other investment companies.		August 31, 2027
EMGF		iShares Emerging Markets Equity Factor ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the aggregate Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and iShares, Inc. Acquired Fund Fees and Expenses reflect the Fund’s pro rata share of the fees and expenses incurred indirectly by the Fund as a result of investing in other investment companies.		December 31, 2026
HEEM		iShares Currency Hedged MSCI Emerging Markets ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fees so that the Fund’s total annual fund operating expenses after fee waiver is equal to the Acquired Fund Fees and Expenses attributable to the Fund’s investment in the iShares MSCI Emerging Markets ETF (EEM), after taking into account any fee waivers by EEM. Acquired Fund Fees and Expenses reflect the Fund’s pro rata share of the fees and expenses incurred indirectly by the Fund as a result of investing in other investment companies.		December 31, 2025

IEMG		iShares Core MSCI Emerging Markets ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver will not exceed 0.09%.		December 31, 2025
DVYA		iShares Asia/Pacific Dividend ETF		With respect to the Fund, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the aggregate Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other funds advised by BFA or its affiliates. Acquired Fund Fees and Expenses reflect the Fund’s pro rata share of the fees and expenses incurred indirectly by the Fund as a result of investing in other investment companies.		August 31, 2025

XXXXXXX, INC. on behalf of each FUND						BLACKROCK FUND ADVISORS
By:		/s/ Xxxxxx Xxxxxxx				By:		/s/ Xxxxxx Xxxxxxx
		Xxxxxx Xxxxxxx						Xxxxxx Xxxxxxx
		Assistant Secretary, iShares, Inc.						Managing Director

Dated: June 8, 2023

[Signature Page to Amended Schedule A of Master Advisory Fee Waiver Agreement]

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