68 Sustainability Report 2021 Inclusive Growth | Defining and Executing on Our Strategy Supporting the Public Sector In complex areas where the risks or costs for private capital are high, the public sector can help to close the gap. Smart Luz In 2021, Brazilian subconcessionare Smart Luz issued approximately $163 million in BRL-denominated 144a/ RegS bonds to finance a street lighting public-private partnership project in Rio de Janeiro. Goldman Sachs acted as sole global coordinator, bookrunner, and sustainability bond structuring agent. Beginning with street lighting, the project will modernize Rio de Janeiro through a “smart city” approach that includes cameras, Wi-Fi points, traffic controllers, and manhole sensors. Rumichaca-Pasto Goldman Sachs was joint global coordinator, bookrunner, and lead arranger on the $798 million-equivalent project financing for Rumichaca-Pasto, a toll road connecting the border crossing point between Colombia and Ecuador, with the city of Pasto, Colombia. Estimated to serve 7 million people, Rumichaca-Pasto will expand a major commercial route to help rural farmers reach larger markets and stimulate the local economy, in addition to generating travel- time savings. The transaction represents the largest social bond tied to an infrastructure project in Latin America. California Statewide Communities Development Authority (CSCDA) Workforce Housing In 2021, Goldman Sachs Investment Banking raised more than $2.7 billion through 12 separate transactions for a CSCDA Community Improvement Authority (CSCDA CIA) public-private partnership program that utilizes governmental ownership and private sector asset management to create and sustain high-quality, affordable housing for middle-income earners (also known as essential or workforce housing). This transaction series included the first social bond issuance in the essential housing sector, and each of the 12 transactions were ultimately designated social bonds pursuant to a social bond framework, which the Goldman Sachs team crafted with the issuer. Republic of Chile In July 2021, Goldman Sachs led a $5.8 billion multi- tranche and multi-currency social bond offering for the Republic of Chile in support of the government’s COVID-19 relief package. The bond offering represented the fourth consecutive transaction Goldman Sachs led for the Republic of Chile in 2021 (amounting to more than $9 billion in proceeds) — and further cemented Chile as the most active sovereign issuer of ESG bonds in Latin America. Chile intends to invest proceeds from the social bonds into projects that may qualify as eligible social expenditures under Chile’s Sustainable Bond Framework. 3 INCLUSIVE GROWTH