1. Source: Goldman Sachs Asset Management as of December 2021.

2. The indexes aim to meet the minimum requirements to be an EU Paris Aligned Benchmark as defined by the European Commission Delegated Regulation C(2020)4757.

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

Good Value: The index identifies stocks from companies that may be undervalued by the rest of the market. These stocks tend to outperform as they move toward fair value. This can help you gain exposure to high potential stocks others may have overlooked.

Strong Momentum:  The index identifies stocks that have recently performed well and may exhibit some persistence in their outperformance. This allows you to participate in market trends.

High Quality:  The index identifies stocks from companies that efficiently generate profits over time. This allows you to gain exposure to companies with strong fundamentals and the potential for consistent returns

Low Volatility:  The index identifies stocks from companies that are likely to avoid extreme swings up and down in price. This aims to smooth out the ride, which will help compound your returns over time.

The premium/discount is calculated using the closing price from the exchange on which the Fund was last traded. The market price also shows the closing price from the exchange on which the Fund was last traded.

The returns represent past performance. Past performance is no guarantee of future results. The Fund’s investment return and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.

Performance reflects cumulative total returns for periods of less than one year and average annual total returns for periods of greater than one year. Since inception returns for periods of less than one year are cumulative. All Fund performance data reflect the reinvestment of distributions.

Net Asset Value is the value of one share of the Fund. This amount is derived by dividing the total value of all the securities in the fund’s portfolio, less any liabilities, by the number of fund shares outstanding. Market Price is the price at which the Fund’s shares are trading on the NYSE Arca. The Market Price of the Fund’s shares will fluctuate and, at the time of sale, shares may be worth more or less than the original investment or the Fund’s then current net asset value. The Fund cannot predict whether its shares will trade at, above or below net asset value.

The Index is a trademark of Goldman Sachs Asset Management, L.P. and has been licensed for use by Goldman Sachs ETF Trust. Goldman Sachs Asset Management, L.P., the Goldman Sachs Group, Inc., and Goldman Sachs & Co. (collectively, “Goldman Sachs”) does not guarantee nor make any representation or warranty, express or implied, to the owners or shareholders of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance. Goldman Sachs, in its capacity as the index provider of the Index, licenses certain trademarks and trade names to the Fund. Goldman Sachs has no obligation to take the needs of the Fund or the shareholders of the Fund into consideration in determining, composing or calculating the Index. Goldman Sachs or any of its affiliates may hold long or short positions in securities held by the Fund or in related derivatives Goldman Sachs does not guarantee the adequacy, timeliness, accuracy and/or the completeness of the Index or any data related thereto. Goldman Sachs hereby expressly disclaims any and all liability for any errors, omissions, or interruptions therein or in the calculation thereof. Goldman Sachs makes no warranty, express or implied, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the marks, the Index or any data included therein as to the results to be obtained by the Fund, the shareholders, or any other person or entity from use of the Index or any data included therein. Without limiting any of the foregoing, Goldman Sachs hereby expressly disclaims any and all liability for any special, punitive, indirect, or consequential damages (including lost profits), even if advised of the possibility of and such damages.

The Goldman Sachs ActiveBeta® Paris-Aligned Climate U.S. Large Cap Equity ETF (the “Fund”) seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Goldman Sachs ActiveBeta® Paris-Aligned U.S. Large Cap Equity Index (the “Index”), which delivers exposure to equity securities of large-capitalization U.S. issuers. The Fund’s investments are subject to market risk, which means that the value of the securities in which it invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions. Because the Fund may concentrate its investments in an industry or group of industries to the extent that the Index is concentrated, the Fund may be subject to greater risk of loss as a result of adverse economic, business or other developments affecting that industry or group of industries. The Index is intended to be an “EU Paris-Aligned Benchmark” whose constituents are aligned with the goals of the Paris Climate Agreement and the Index may weigh certain characteristics of an issuer more heavily than an issuer’s performance or returns. The Fund is not actively managed, and therefore the Fund will not generally dispose of a security unless the security is removed from the Index. The Index calculation methodology may rely on information based on assumptions and estimates and neither the Fund nor its investment adviser can guarantee the accuracy of the methodology’s assessment of included issuers. Performance may vary substantially from the performance of the Index as a result of transaction costs, expenses and other factors.

Fund shares are not individually redeemable and are issued and redeemed by the Fund at their net asset value (“NAV”) only in large, specified blocks of shares called creation units. Shares otherwise can be bought and sold only through exchange trading at market price (not NAV). Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

The Fund is newly organized and has limited or no operating history.

Given the Fund’s investment objective of attempting to track its Index, the Fund does not follow traditional methods of active investment management, which may involve buying and selling securities based upon analysis of economic and market factors. Also, unlike many investment companies, the Fund does not attempt to outperform the Index that it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.

The Investment Company Act of 1940 (the “Act”) imposes certain limits on investment companies purchasing or acquiring any security issued by another registered investment company.  For these purposes the definition of “investment company” includes funds that are unregistered because they are excepted from the definition of investment company by sections 3(c)(1) and 3(c)(7) of the Act.  You should consult your legal counsel for more information.

The NAV used in the Total Return calculation assumes all management fees and operating expenses incurred by the Fund. Market price is the price at which the Fund’s shares are trading on its applicable listing exchange. Market Price returns are based upon the last trade at 4:00pm EST and do not reflect the returns you would receive if you traded shares at other times. The first day of secondary market trading is typically several days after the Fund’s inception of investment operations date; therefore, the NAV of the Fund is used as a proxy for the period from inception of investment operations to the first day of secondary market trading to calculate the Market Price returns.

Total returns are calculated assuming purchase of a share at the market price or NAV on the first day and sale of a share at the market price or NAV on the last day of each period reported. The Total Returns Based on NAV and Market Price do not reflect brokerage commissions in connection with the purchase or sale of Fund shares, which if included would lower the performance.

Total Annual Fund Operating Expenses (%) 0.20%, Please note the figures shown above is the unitary management fee. Under the management fee for GPAL, Goldman Sachs Asset Management LP., the Fund’s investment adviser, is responsible for paying substantially all the expenses of the Fund, excluding the payments under the Fund's 12b-1 plan (if any), interest expenses, taxes, acquired fund fees and expenses, brokerage fees, costs of holding shareholder meetings, litigation, indemnification and extraordinary expenses.

Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. Fund holdings and allocations may not include the Fund’s entire investment portfolio, which may change at any time. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities. Current and future holdings are subject to risk. Percentages may not sum to 100% due to rounding.

This material is not authorized for distribution to prospective investors unless preceded or accompanied by a current Prospectus or summary prospectus, if applicable. Investors should consider a Fund's objective, risks, and charges and expenses, and read the summary prospectus, if available, and/or the Prospectus carefully before investing or sending money. The summary prospectus, if available, and the Prospectus contain this and other information about a Fund and may be obtained from your authorized dealer or from Goldman Sachs & Co. LLC by calling (retail--1-800-526-7384) (institutional--1-300-621-2550).

ActiveBeta® is a registered trademark of Goldman Sachs Asset Management in the United States, Europe, and Japan. Smart Momentum and Smart Value are registered trademarks of GSAM in the United States. The ActiveBeta® Portfolio Construction and Maintenance Methodology is the patent-protected property of GSAM (U.S. Patent Numbers 8,285,620 and 8,473,398).

ALPS Distributors, Inc. is the distributor of the Goldman Sachs ETF Funds.

ALPS Distributors, Inc. is unaffiliated with Goldman Sachs Asset Management.

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