Sustainability Report 2021 Introduction 8 Our Strategic Framework At Goldman Sachs, we have identified two imperatives through which we can make the most material impact as a firm: climate transition and inclusive growth. We continue to view these two themes as key drivers of risk and opportunity for our firm and our clients. To advance inclusive growth We’re actively listening to, amplifying, and partnering with people, communities, and organizations to improve accessibility, affordability, and outcomes to help drive more inclusive, sustainable growth. We’re continuing to accelerate our work in this space through signature initiatives, including One Million Black Women, 10,000 Small Businesses, and 10,000 Women . We acknowledge that long-term outcomes will be the true test of our impact in helping to build a more diverse, equitable, and inclusive economy. We also remain focused on the growing impacts of climate change on sustainable, inclusive economic growth. We remain steadfast in our belief that growth that is not inclusive is not sustainable, and we remain committed to supporting an inclusive transition. Our work here is just beginning, and we will continue to report on our areas of focus and impact in this space. To accelerate the climate transition We are expanding the scale and speed of our impact. We look to mobilize capital, accelerate innovation, and fuel the transition to a low-carbon economy at both a client and systemic level, grounded in the insights we gain through partnerships and our flagship research initiatives, such as GS SUSTAIN and Carbonomics . What We’ve Learned Synergies between climate transition and inclusive growth: • Complex, large-scale challenges require interconnected, dynamic, and scalable solutions. • Working with clients, partners, and our people amplifies our impact. INTRODUCTION