Investor Presentaiton

Goldman Diversified Client-Driven Franchise Sachs Leading position and strong financial results in each of our businesses Investment Banking 19% of 2014 Net Revenues Delivers the whole firm to clients #1 ranked merger advisor and equity underwriting franchise More than 8,000 clients globally in nearly 100 countries across a broad range of industries Advice, capital raising, hedging and risk management solutions; leading defense franchise Investing & Lending 20% of 2014 Net Revenues Operates as an extension of our client franchise Generating strong risk-adjusted returns from Investing & Lending portfolios over the long-term Private Equity Corporate, PWM and Real Estate Lending Middle Market and Specialty Financing Investing in a Volcker-compliant manner Institutional Client Services 44% of 2014 Net Revenues Among the few global players with leading FICC and Equities franchises, with ~7,000 active clients Comprehensive capabilities across: - FICC: Credit, Rates, Currencies, Mortgages and Commodities Equities: Cash, Derivatives and Prime Services Robust ROAE framework creates discipline and drives opportunities Investment Management 17% of 2014 Net Revenues Strong Fixed Income and Equity performance with 82% and 73% of fund assets ranked in the top two quartiles over 3 and 5 years, respectively1 ~14,000 clients across PWM, Institutions and Third Party Distributors Global, broad and deep offerings; managing assets across all major asset classes and serving clients in over 120 countries 1 Performance calculated using period-end data for global long-term fund assets (non-money market) for all share classes ranked by Morningstar as of 1Q15 4

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