GS-PC · The Goldman Sachs Group, Inc. PFD 1/1000 C

The Goldman Sachs Group, Inc. has completed the issuance of $6.5 billion in aggregate principal amount of unsecured debt securities, as confirmed by the legal opinion of Sullivan & Cromwell LLP filed as Exhibit 5.1. The offering is structured into three distinct tranches with varying interest rate profiles and maturities to likely appeal to a broad range of fixed income investors. The issuance includes $500 million in Floating Rate Notes due 2030, providing investors with exposure to short-term interest rate movements. Additionally, the Company issued two larger fixed-to-floating rate tranches: $3 billion of 4.594% Notes due 2030 and $3 billion of 5.094% Notes due 2034. The 2034 notes carry a higher coupon, reflecting the longer duration and associated interest rate risk. All notes were issued under the existing Indenture dated July 16, 2008, as amended, with The Bank of New York Mellon serving as the trustee. The securities were offered pursuant to a Registration Statement on Form S-3 (File No. 333-284538) declared effective by the SEC. Sullivan & Cromwell LLP has opined that the Notes constitute valid and legally binding obligations of the Company, subject to standard bankruptcy, insolvency, and equity principles. This significant debt raise increases the Company's interest expense obligations and leverage profile, though specific use of proceeds was not disclosed in the provided exhibit.