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Our History of INCLUSIVE GROWTH Leadership in Inclusive Growth Our 20-year history of investing in underserved communities serves as the foundation of our work to advance inclusive growth. Urban Investment Group (UIG) Leveraging capital and community connection to drive outcomes We established our Urban Investment Group (UIG) in 2001, grounded in the belief that capital markets can and should play an important role in creating opportunities for underserved people and places. Since its inception, UIG has invested more than $12 billion in innovative capital solutions that strengthen communities and promote long-term economic growth. Partnering with local public- and private-sector leaders, UIG makes investments to strengthen the fundamental building blocks of opportunity — including affordable housing, commercial and community facility space in underserved areas, quality education and healthcare, and growth capital for social enterprises and small businesses. Sustainability Report 2021 Inclusive Growth | Introduction 52

Sustainability Report | Goldman Sachs - Page 52 Sustainability Report | Goldman Sachs Page 51 Page 53