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Our framework for selecting projects and executing investment decisions is rigorous and multilayered in nature, reflecting the scale and importance of executing on our sustainable finance commitment. Governance As a baseline, all projects and assets under consideration Proceeds from Goldman Sachs’ Green, Social, or for financing must meet the standards set by our existing Sustainability issuances will be prioritized to finance new environmental and social risk management procedures, projects or assets that meet the criteria of the respective including the Goldman Sachs Environmental Policy type of issuance and will aim to allocate all proceeds within Framework, which provides guidance on financing in certain two years following the issuance. Additionally, loans and environmentally and socially sensitive sectors. The firm's investments that qualify under the relevant criteria made broader risk management covers broader risk factors such up to one year prior to the issuance are also eligible for as potential legal, regulatory, and governance risks. refinancing with its proceeds. The Sustainable Asset Working Group consists of cross- For further information on eligibility and exclusion criteria for divisional stakeholders from the Sustainable Finance Group, our Green, Social, and Sustainability Issuances, please refer Investor Relations, Corporate Treasury, Legal, Controllers, to our Framework. Compliance, and relevant business teams. The group reviews and confirms eligible projects and assets for funding with proceeds from Green, Social, or Sustainability issuance. Sustainability Report 2021 Sustainability Issuance Report | Sustainability Issuance Framework 114

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