Investor Presentaiton
Goldman Quest for Growth
Sachs
M&A
Announced M&A % of
Global Market Cap
12%
10.2%
10%
40%
30%
20%
10%
8.5%
8%
7.4%
7.8%
2015YTD²:
5.9%
0%
6.2%
.6.0%
6.5%
5.5%
6%
5.0%
5.6% 5.5%5.1%
5.4% 5.5%
4.3%
Announced M&A % of Global Market Cap and GS Volume Share¹
14%
Average GSI
Top Announced M&A Sectors1
Industry
GS
Share: 28%
Global Time Period
Rank
Leading
Industry
GS Share
% of
Global
Volume
****
#1
2000-2002
TMT
35%
#1
2003
FIG
22%
#1
2004-2005
TMT
22%
#1
2006-2007
Nat. Resources
23%
#1
4%
1 #1, #2
2008
2009-2012
FIG
24%
Nat. Resources
28%
2%
I #1
2013
TMT
23%
2000 2002 2004
Total Announced M&A Volume as % of Global Market Cap
2006
2008
2010 2012
2014
I
#1
| 2014-2015YTD³ Nat. Resources
22%
GS Share
Long-term
Performance
Current
Performance
While dominant sectors have varied over different periods, GS held the #1 rank in
announced M&A in 13 of the last 15 years
GS average share 2000-2014: 28%
Participated in 18 of the 20 largest completed M&A deals since our IPO in 1999
Advisory net revenues in 1Q15 were ~1.8x our closest peer4
1Q15 total investment banking backlog up significantly YoY
1 Source: M&A from Thomson Reuters. Global market cap from Factset
2 Annualized announced M&A as of 5/20/15
3 As of 5/20/15; 4 Peers include JPM, MS, C, BAC, CS, DB and UBS
CO
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