Investor Presentaiton

Unsecured Non-Benchmark Funding As part of our broader non-deposit unsecured funding strategy, we strive for a diversified funding mix across various products, channels, issuing entities, currencies, tenors and investor types In addition to benchmark funding, we utilize other unsecured funding channels to further diversify As of 3Q20, we had $101bn of unsecured non-benchmark debt outstanding The largest of these channels is our structured debt program (77% of unsecured non-benchmark funding), through which we issue across various entities at attractive levels ■ $53bn raised during the first nine months of 2020, 31% in non-USD currencies ■ $11bn raised in 3Q20, 20% in non-USD currencies The rest of our unsecured non-benchmark funding portfolio consists of other non-structured debt (23%) ☐ Incremental diversification opportunities, including 3Q20 launch of new commercial paper program out of GSI ($1bn raised in 3Q20) Non-Benchmark Debt Outstanding as of 3Q20 Currency Tenor Entity EUR 15% Other 8% JPY 17% USD 60% 10yr-20yr 16% >20yr 5% <2yr 32% 5yr-10yr 19% 2yr-5yr 28% Other 13% GSG 31% GSFC + GSFCI 29% GSI 27% 14

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