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Opinions expressed are current opinions as of the date appearing in this material. This information is to be read in conjunction with the linked materials and their relevant disclosures.

Please visit the Proxy Voting Web site to view proxy voting activity from Goldman Sachs Funds' Form N-PX Filings. Information about the Funds' proxy voting policies and procedures can be found in the attached description.

A summary prospectus, if available, or a Prospectus for the Fund containing more information may be obtained from your authorized dealer or from Goldman, Sachs & Co. by calling (retail - 1-800-526-7384) (institutional - 1-800-621-2550) for the Goldman Sachs Funds and (1-800-762-5035) for the Goldman Sachs Variable Insurance Trust Funds. Please consider a fund's objectives, risks, and charges and expenses, and read the summary prospectus, if available, and the Prospectus carefully before investing. The summary prospectus, if available, and the Prospectus contains this and other information about the Fund.

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Goldman, Sachs & Co. is the distributor of the Goldman Sachs Funds.

NOT FDIC-INSURED | May Lose Value | No Bank Guarantee