Sustainability Report 2021 Climate Transition | Accelerating Innovation 28 CLIMATE TRANSITION Electrification Value Chain Catalyzing decarbonization across industries will require not only changes at the company level but also at the system level. We’ve seen firsthand this potential for system-level change through our work activating the full life cycle of electrification. In the US, the transportation sector generates the largest portion of greenhouse gas emissions at 29% . Not only can vehicle electrification significantly reduce emissions output, but it can also encourage technological innovation through critical areas of vehicle development, such as batteries and charging networks. Goldman Sachs supports this technology innovation and development at every stage of the value chain — from helping automakers access key metals and manage price risk in production, to advising on acquisitions for emerging electric vehicle (EV) charging network operators, to financing the rapid growth of next-generation battery manufacturers. Price Risk Management: Metals Charging Networks: ChargePoint Battery Manufacturing: Northvolt Battery Materials: Redwood Materials Electrification Value Chain