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Overview

The GS Social Impact Fund is one of the first domestic impact investi

vehicles tobesponsoredbyamajor financial institution,and isbeing launc

by theUrban InvestmentGroup(UIG),whichhas investedover$4.3billioGScapitalinimpactinvestingopportunitiesfrom2001todate

The GS Social Impact Fund seeks to provide clients with access to doub

bottom line investments that can provide both a financial return a

measurable social impact

The GS Social Impact Fund will provide investors with an opportunity to depl

capital to address a range of pressing social challenges in the US, while al

seeking a risk-adjusted financial return

UIG Team

Experienced and proven team with expertise in social impact investing a

structuring complex public/private partnerships

Havingcommittedover$4.3billionoftheFirmscapitalsince2001,UIGbelie

it isuniquelypositioned tosource,evaluateandexecute impactfuland ret

generatingtransactionsintheUS

GS Social Impact Fund

Investment

Strategy

Neighborhood Building. Investments that support the development of mix

use projects that can transform the built environment through the provision

quality affordable housing, healthcare facilities, schools, vital community spaand neighborhood serving retail

Job Creation and Social Enterprise. Capital to for- and non-profit business

and intermediaries that catalyze job creation and economic growth, and br

critical services to disadvantaged communities

Social Innovation Financing. Financing to support the delivery of soc

financial, and educational services for low- and moderate-income communit

through innovative funding models, including social impact bonds

With insufficient public sector and philanthropic resources available to addre

chronic social challenges, private sector capital is emerging as a powerful to

to create economic opportunities for underserved communities

Capital

Solutions

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GS Social Impact Fund

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ate appearing in this material only. This presentation is for informational purposes only with respect to certain investment products

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Sachs

&

Co.

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offer

in

the

future.

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offer

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sell

or

a

solicitation

of

an

offer

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Risk Factor

AninvestmentintheInvestmentVehiclewillinvolvesubstantialrisksandthereareconflictsofinterestthattheInvestorshouldconsider. Thsksincludethat(i)aninvestmentintheInvestmentVehicleisspeculativeandinvolvesahighdegreeofrisk,(ii)theInvestmentVehiclemmployleverage,(iii) theperformanceofthe InvestmentVehiclecanbevolatile,(iv)theInvestorcould loseallorasubstantialamounto

nvestment,(v)exceptasdescribed intheLLCAgreement,GSwillhavetotalcontrolovertheInvestmentVehicle,(vi)there isnosecondmarket for the interests in the InvestmentVehicleandnone isexpected todevelop,and (vii) theManagementFeeandCarried InteresteduceanyprofitsoftheInvestmentVehicle.TheInvestorshouldconsiderthesefactorscarefullybefore investing intheInvestmentVeh

Theportfolioriskmanagementprocessincludesanefforttomonitorandmanagerisk,butdoesnotimplylowrisk.Pastperformancedoes

uaranteefutureresults,whichmayvary.Thevalueofinvestmentsandtheincomederivedfrominvestmentswillfluctuateandcangodownwellasup.Alossofprincipalmayoccur.Supplemental Risk Disclosure for All Potential Direct and Indirect Investors in Hedge Funds and other private investment funds

collectively, Alternative Investments" )

n connection with your consideration of an investment in any Alternative Investment, you should be aware of the following risks:Alternative Investments are subject to less regulation than other types of pooled investment vehicles such as mutual funds. Alternanvestmentsmayimposesignificantfees,includingincentivefeesthatarebaseduponapercentageoftherealizedandunrealizedgains,uch fees may offset all or a significant portion of suchAlternative Investments trading profits. An individuals net returns may dignificantlyfromactualreturns. Alternative Investmentsarenotrequired toprovideperiodicpricingorvaluation information. Investorsave limited rights with respect to their investments, including limited voting rights and participation in themanagement of theAlternanvestment.

AlternativeInvestmentsoftenengage in leverageandotherinvestmentpracticesthatareextremelyspeculativeand involveahighdegresk.Suchpracticesmayincreasethevolatilityofperformanceandtheriskofinvestmentloss,including thelossoftheentireamounttha

nvested.

AlternativeInvestments

may

purchase

instruments

that

are

traded

on

exchanges

located

outside

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United

States

that

are

principal

markndaresubjecttotheriskthatthecounterpartywillnotperformwithrespecttocontracts.

Pastperformancedoesnotguaranteefutureresults,whichmayvary.Thevalueofinvestmentsandtheincomederivedfrominvestmentsuctuateandcangodownaswellasup.Alossofprincipalmayoccur.

Alternative Investmentsareoffered inrelianceuponanexemptionfromregistrationunder theSecuritiesActof1933,asamended, forofndsalesofsecurities thatdonot involveapublicoffering.Nopublicorothermarket isavailableorwilldevelop.Similarly, interests in

AlternativeInvestmentarehighlyilliquidandgenerallyarenottransferablewithouttheconsentofthesponsor,andapplicablesecuritiesandawswilllimittransfers.AlternativeInvestmentsmaythemselvesinvestininstrumentsthatmaybehighlyilliquidandextremelydifficulttovalue.Thisalsomaylimitybilitytoredeemortransferyourinvestmentordelayreceiptofredemptionortransferproceeds.

AlternativeInvestmentsarenotrequiredtoprovidetheirinvestorswithperiodicpricingorvaluationinformation.Alternative Investmentsmay involvecomplex taxand legalstructuresandaccordinglyareonlysuitable forsophisticated investors.Yourgedtoconsultwithyourowntax,accountingandlegaladvisersregardinganyinvestmentinanyAlternativeInvestment.

Prospectiveinvestorsshould informthemselvesastoanyapplicablelegalrequirementsandtaxationandexchangecontrolregulations inountriesoftheircitizenship,residenceordomicilewhichmightberelevant.

Conflicts

of

Interest:Theremaybeconflictsof interest relating to theAlternative Investmentand itsserviceproviders, includingGoldmSachsand itsaffiliates.Theseactivitiesand interests includepotentialmultipleadvisory, transactionalandother interests insecuritiesnstrumentsthatmaybepurchasedorsoldbytheAlternativeInvestment. Theseareconsiderationsofwhich investorsshouldbeawaredditionalinformationrelatingtotheseconflictsissetforthintheofferingmaterialsfortheAlternativeInvestment.

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