Goldman Sachs Announces Redemption of All Outstanding Depositary Shares Representing Interests In Its 5.50% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series Q, 4.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series R and 4.40% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series S

NEW YORK, NY, January 26, 2026 – The Goldman Sachs Group, Inc. (NYSE: GS) (the “Company”) today announced that on February 10, 2026 (the “Redemption Date”) it will redeem all outstanding shares of its 5.50% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series Q (“Series Q Preferred Stock”) and the corresponding 500,000 depositary shares (“Series Q Depositary Shares”) each representing a 1/25^th interest in a share of Series Q Preferred Stock, all outstanding shares of its 4.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series R (“Series R Preferred Stock”) and the corresponding 600,000 depositary shares (“Series R Depositary Shares”) each representing a 1/25^th interest in a share of Series R Preferred Stock and all outstanding shares of its 4.40% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series S (“Series S Preferred Stock”) and the corresponding 350,000 depositary shares (“Series S Depositary Shares”) each representing a 1/25^th interest in a share of the Series S Preferred Stock.

Each of the Series Q Depositary Shares, Series R Depositary Shares and Series S Depositary Shares will be redeemed for a redemption price equal to $1,000 per depositary share (equivalent to $25,000 per share of Series Q Preferred Stock, Series R Preferred Stock and Series S Preferred Stock, respectively) plus an amount equal to any dividends that have accrued but not been paid for the then-current dividend period to but excluding the Redemption Date attributable to 1/25^th of a share of Series Q Preferred Stock, Series R Preferred Stock and Series S Preferred Stock, as applicable (each such redemption price, a “Redemption Payment”).  From and after the Redemption Date, all dividends will cease to accrue on the Series Q Preferred Stock, Series R Preferred Stock and Series S Preferred Stock.

Simultaneously with the redemption of the Series Q Preferred Stock, Series R Preferred Stock and Series S Preferred Stock, the outstanding Series Q Depositary Shares, Series R Depositary Shares and Series S Depositary Shares will be redeemed on the Redemption Date in accordance with the applicable procedures of The Depositary Trust Company (“DTC”), for an amount per depositary share equal to the applicable Redemption Payment. All Series Q Depositary Shares, Series R Depositary Shares and Series S Depositary Shares are held in book-entry form through DTC and will be redeemed in accordance with the procedures of DTC.

HSBC Bank USA, National Association’s address is as follows:

HSBC Bank USA, NA
66 Hudson Boulevard East
New York, NY 10001
Attn: Deal Management C/O Amy Kwok

Investors in the Series Q Depositary Shares, Series R Depositary Shares and Series S Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Series Q Depositary Shares, Series R Depositary Shares or Series S Depositary Shares for information about obtaining the applicable Redemption Payment for the Series Q Depositary Shares, Series R Depositary Shares or Series S Depositary Shares in which they have a beneficial interest.

Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

# # #

Media Contact:
Tony Fratto
Tel: +1 212 902 5400

Investor Contact:
Jehan Ilahi
Tel: +1 212 902 0300