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