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United Kingdom and European Economic Area (EEA): In the United Kingdom, this material is a financial promotion and has been approved by Goldman Sachs Asset Management International, which is authorized and regulated in the United Kingdom by the Financial Conduct Authority.
Switzerland: For Qualified Investor use only – Not for distribution to general public. This document is provided to you by Goldman Sachs Bank AG, Zürich. Any future contractual relationships will be entered into with affiliates of Goldman Sachs Bank AG, which are domiciled outside of Switzerland. We would like to remind you that foreign (Non-Swiss) legal and regulatory systems may not provide the same level of protection in relation to client confidentiality and data protection as offered to you by Swiss law.
Asia excluding Japan: Please note that neither Goldman Sachs Asset Management International nor any other entities involved in the Goldman Sachs Asset Management business maintain any licenses, authorizations or registrations in Asia (other than Japan), except that it conducts businesses (subject to applicable local regulations) in and from the following jurisdictions: Hong Kong, Singapore, Malaysia and India. This material has been issued for use in or from Hong Kong by Goldman Sachs Asset Management (Hong Kong) Limited or Goldman Sachs (Asia) L.L.C., in or from Singapore by Goldman Sachs Asset Management (Singapore) Pte. Ltd. (Company Number: 201329851H), in or from Malaysia by Goldman Sachs (Malaysia) Sdn Berhad (880767W), and in or from India by Goldman Sachs (India) Alternative Investment Management Private Ltd.
Australia: When this document is disseminated in Australia by Goldman Sachs & Co. LLC ("GSCO"), Goldman Sachs International ("GSI"), Goldman Sachs Bank Europe SE ("GSBE"), Goldman Sachs (Asia) L.L.C. ("GSALLC"), or Goldman Sachs (Singapore) Pte ("GSSP") (collectively the "GS entities"), this document, and any access to it, is intended only for a person that has first satisfied the GS entities that:
- the person is a Sophisticated or Professional Investor for the purposes of section 708 of the Corporations Act of Australia; and
- the person is a wholesale client for the purpose of section 761G of the Corporations Act of Australia.
- To the extent that the GS entities are providing a financial service in Australia, the GS entities are each exempt from the requirement to hold an Australian financial services licence for the financial services they provide in Australia. Each of the GS entities are regulated by a foreign regulator under foreign laws which differ from Australian laws, specifically:
- GSCO is regulated by the US Securities and Exchange Commission under US laws;
- GSI is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under UK laws;
- GSBE is subject to direct prudential supervision by the European Central Bank and in other respects is supervised by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufischt, BaFin) and Deutsche Bundesbank;
- GSALLC is regulated by the Hong Kong Securities and Futures Commission under Hong Kong laws; and
- GSSP is regulated by the Monetary Authority of Singapore under Singapore laws.
When this document is disseminated in Australia by Goldman Sachs Asset Management Australia Pty Ltd (“GSAMA”) ABN 41 006 099 681, AFSL 228948, this document, and any access to it, is intended only for a person that has first satisfied GSAMA that:
- the person is a Sophisticated or Professional Investor for the purposes of section 708 of the Corporations Act of Australia; and
- the person is a wholesale client for the purpose of section 761G of the Corporations Act of Australia.
To the extent that this document contains any statement which may be considered to be financial product advice in Australia under the Corporations Act 2001 (Cth), that advice is intended to be given to the intended recipient of this document only, being a wholesale client for the purposes of the Corporations Act 2001 (Cth). Any advice provided in this document is provided by either Goldman Sachs Asset Management International (GSAMI), Goldman Sachs International (GSI), Goldman Sachs Asset Management, LP (GSAMLP) or Goldman Sachs & Co. LLC (GSCo). Both GSCo and GSAMLP are regulated by the US Securities and Exchange Commission under US laws, which differ from Australian laws. Both GSI and GSAMI are regulated by the Financial Conduct Authority and GSI is authorized by the Prudential Regulation Authority under UK laws, which differ from Australian laws. GSI, GSAMI, GSCo, and GSAMLP are all exempt from the requirement to hold an Australian financial services licence under the Corporations Act of Australia and therefore do not hold any Australian Financial Services Licences. Any financial services given to any person by GSI, GSAMI, GSCo or GSAMLP by distributing this document in Australia are provided to such persons pursuant to ASIC Class Orders 03/1099 and 03/1100.
No offer to acquire any interest in a fund or a financial product is being made to you in this document. If the interests or financial products do become available in the future, the offer may be arranged by GSAMA in accordance with section 911A(2)(b) of the Corporations Act. GSAMA holds Australian Financial Services Licence No. 228948. Any offer will only be made in circumstances where disclosure is not required under Part 6D.2 of the Corporations Act or a product disclosure statement is not required to be given under Part 7.9 of the Corporations Act (as relevant).
New Zealand: When this document is disseminated in New Zealand by Goldman Sachs & Co. LLC ("GSCO"), Goldman Sachs International ("GSI"), Goldman Sachs Bank Europe SE ("GSBE"), Goldman Sachs (Asia) L.L.C. ("GSALLC") or Goldman Sachs (Singapore) Pte ("GSSP") (collectively the "GS entities"), this document, and any access to it, is intended only for a person that has first satisfied; the GS entities that the person is someone:
(i) who is an investment business within the meaning of clause 37 of Schedule 1 of the Financial Markets Conduct Act 2013 (New Zealand) (the "FMC Act");
(ii) who meets the investment activity criteria specified in clause 38 of Schedule 1 of the FMC Act;
(iii) who is large within the meaning of clause 39 of Schedule 1 of the FMC Act; or
(iv) is a government agency within the meaning of clause 40 of Schedule 1 of the FMC Act.
No offer to acquire the interests is being made to you in this document. Any offer will only be made in circumstances where disclosure is not required under the Financial Markets Conducts Act 2013 or the Financial Markets Conduct Regulations 2014.
When this material is disseminated in New Zealand by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 681, AFSL 228948 (’GSAMA’) and is intended for viewing only by wholesale clients in Australia for the purposes of section 761G of the Corporations Act 2001 (Cth) and to clients who either fall within any or all of the categories of investors set out in section 3(2) or sub-section 5(2CC) of the Securities Act 1978, fall within the definition of a wholesale client for the purposes of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (FSPA) and the Financial Advisers Act 2008 (FAA),and fall within the definition of a wholesale investor under one of clause 37, clause 38, clause 39 or clause 40 of Schedule 1 of the Financial Markets Conduct Act 2013 (FMCA) of New Zealand (collectively, a “NZ Wholesale Investor”). GSAMA is not a registered financial service provider under the FSPA. GSAMA does not have a place of business in New Zealand. In New Zealand, this document, and any access to it, is intended only for a person who has first satisfied GSAMA that the person is a NZ Wholesale Investor. This document is intended for viewing only by the intended recipient. This document may not be reproduced or distributed to any person in whole or in part without the prior written consent of GSAMA.
To the extent that this document contains any statement which may be considered to be financial product advice in Australia under the Corporations Act 2001 (Cth), that advice is intended to be given to the intended recipient of this document only, being a wholesale client for the purposes of the Corporations Act 2001 (Cth). Any advice provided in this document is provided by either Goldman Sachs Asset Management International (GSAMI), Goldman Sachs International (GSI), Goldman Sachs Asset Management, LP (GSAMLP) or Goldman Sachs & Co. LLC (GSCo). Both GSCo and GSAMLP are regulated by the US Securities and Exchange Commission under US laws, which differ from Australian laws. Both GSI and GSAMI are regulated by the Financial Conduct Authority and GSI is authorized by the Prudential Regulation Authority under UK laws, which differ from Australian laws. GSI, GSAMI, GSCo, and GSAMLP are all exempt from the requirement to hold an Australian financial services licence under the Corporations Act of Australia and therefore do not hold any Australian Financial Services Licences. Any financial services given to any person by GSI, GSAMI, GSCo or GSAMLP by distributing this document in Australia are provided to such persons pursuant to ASIC Class Orders 03/1099 and 03/1100.
No offer to acquire any interest in a fund or a financial product is being made to you in this document. If the interests or financial products do become available in the future, the offer may be arranged by GSAMA in accordance with section 911A(2)(b) of the Corporations Act. GSAMA holds Australian Financial Services Licence No. 228948. Any offer will only be made in circumstances where disclosure is not required under Part 6D.2 of the Corporations Act or a product disclosure statement is not required to be given under Part 7.9 of the Corporations Act (as relevant).
Canada: This presentation has been communicated in Canada by Goldman Sachs Asset Management LP, which is registered as a portfolio manager under securities legislation in all provinces of Canada and as a commodity trading manager under the commodity futures legislation of Ontario and as a derivatives adviser under the derivatives legislation of Quebec. Goldman Sachs Asset Management LP is not registered to provide investment advisory or portfolio management services in respect of exchange-traded futures or options contracts in Manitoba and is not offering to provide such investment advisory or portfolio management services in Manitoba by delivery of this material.
Japan: This material has been issued or approved in Japan for the use of professional investors defined in Article 2 paragraph (31) of the Financial Instruments and Exchange Law by Goldman Sachs Asset Management Co., Ltd. or Goldman Sachs Japan Co., Ltd.