Investments in the Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Funds.

Great Gray® and Great Gray Trust Company are service marks used in connection with various fiduciary and non-fiduciary services offered by Great Gray Trust Company, LLC.

THESE MATERIALS ARE PROVIDED SOLELY ON THE BASIS THAT THEY WILL NOT CONSTITUTE INVESTMENT ADVICE AND WILL NOT FORM A PRIMARY BASIS FOR ANY PERSON'S OR PLAN'S INVESTMENT DECISIONS, AND GOLDMAN SACHS IS NOT A FIDUCIARY WITH RESPECT TO ANY PERSON OR PLAN BY REASON OF PROVIDING THE MATERIAL OR CONTENT HEREIN. PLAN FIDUCIARIES SHOULD CONSIDER THEIR OWN CIRCUMSTANCES IN ASSESSING ANY POTENTIAL INVESTMENT COURSE OF ACTION.

This vehicle has not been launched yet. This information is delivered solely as reference material with respect to the Goldman Sachs Collective Trust – Private Credit Fund, an investment product that Goldman Sachs may offer in the future.

Views and opinions expressed are for informational purposes only and do not constitute a recommendation by Goldman Sachs Asset Management to buy, sell, or hold any security.

Goldman Sachs Asset Management leverages the resources of Goldman Sachs & Co. LLC subject to legal, internal and regulatory restrictions.

Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion.

Diversification does not protect an investor from market risk and does not ensure a profit.

THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO.

In the United States, this material is offered by and has been approved by Goldman Sachs Asset Management, L.P., which is a registered investment adviser with the Securities and Exchange Commission.

The press release provided herein is for informational purposes only and does not contain information sufficient to make an investment decision. Within the EEA, this press release is considered a marketing communication but it does not constitute an offer to sell or a solicitation of an offer to buy any securities relating to any of the products referenced herein. Distinct offerings may currently take place under separate channels, and will be made only in accordance with the terms and conditions set forth in the offering documents pertaining to such fund and in the jurisdictions where the product is registered.

A decision to invest in a fund should take into account all the characteristics, objectives, and associated risks of a fund as described in the prospectus. An investment in a fund would concern the acquisition of units or shares in a fund, and not in any underlying asset in which the fund were to invest. Please also note that the fund is actively managed without reference to any benchmark.

Please refer to the Private Placement Memorandum of the fund/s before making any final investment decisions. Prior to investing, investors are strongly urged to review carefully all of the offering documents.

In the EEA, this material has been approved by Goldman Sachs Fund Services Limited, which is regulated by the Central Bank of Ireland. In the EEA, European Credit is only available, and the press release is only intended for release, in its home state and the states in which it has been passported, namely Austria, Belgium, Cyprus, Czechia, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain and Sweden.

In the United Kingdom, this material is issued by Goldman Sachs Asset Management International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. This press release is directed only at, within the United Kingdom, persons who have professional experience of participating in unregulated schemes who fall within the definition of "investment professionals" in Article 14(5) of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemption) Order 2001 ("PCIS Order"); or (ii) any other person to whom the communication may otherwise be lawfully made. Only those persons that have read this communication that fall within these categories may acquire interests in the scheme. Persons in the United Kingdom who do not have professional experience in participating in unregulated collective schemes should not rely on this press release.

European Credit is registered in the following jurisdictions: Austria, Belgium, Cyprus, Czechia, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain and Sweden.

Alternative investments are highly illiquid and may involve a substantial degree of risk. Investors’ ability to redeem or  transfer their investment or delay receipt of redemption or transfer proceeds may be limited. Your capital is at risk and you may lose some or all of the capital you invest.