Goldman Sachs Global Income Bond Opportunities Active Key Investor Information UCITS ETF (the “Sub-Fund”) This document provides you with key investor CLASS USD (Q-Dist) information about this fund. It is not marketing material. The information is required by law to help you understand (ISIN: IE000DHPZ1N9)the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision a sub-fund of Goldman Sachs ETF ICAV (the “Fund”) about whether to invest. The Sub-Fund is managed by Goldman Sachs Asset Management Fund Services Limited (the “Manager”), part of the Goldman Sachs group of companies.Objectives and Investment Policy ▪ The Sub-Fund seeks total returns predominantly consisting of income withgrade, and agency backed collateralized mortgage obligations up to 10% the potential for capital appreciation by investing primarily in fixed income of net assets with no minimum credit rating. securities of government and corporate issuers around the world (including▪ The Sub-Fund is actively managed and references the Bloomberg Global emerging markets). Aggregate Index (Hedged, USD) (the “Benchmark”) as a performance ▪ The Sub-Fund promotes environmental and/or social characteristics. As comparator. part of its investment process, the Investment Manager will implement an ▪ The Investment Manager has full discretion over the composition of the ESG approach which consists of the application of exclusionary screens assets in the Sub-Fund. While the Sub-Fund will generally hold assets that and the application of minimum inclusion criteria based on proprietary ESG are components of the Benchmark, it can invest in such components in ratings.different proportions, and it can hold assets which are not components of ▪ The Sub-Fund will, under normal circumstances, invest at least two thirds the Benchmark. Therefore, returns may deviate materially from the of its net assets (excluding cash and cash equivalents) in fixed income performance of the specified reference Benchmark and this includes transferable securities issued by governments and corporate issuers where the return of the Sub-Fund may not exceed the return of the around the world with an aim to generate regular income for investors. Benchmark or underperform the Benchmark. ▪ In normal circumstances, only authorised participants (e.g. select financial ▪ The Sub-Fund may use derivatives for efficient portfolio management institutions) may deal in shares (or interests in shares) directly with the purposes, to help manage risks and for investment purposes in order to Sub-Fund. Other investors can deal in shares (or interests in shares) daily seek to increase return. A derivative instrument is a contract between two through an intermediary on stock exchange(s) on which the shares are or more parties whose value depends on the rise and fall of the underlying traded. asset. ▪ Income (net of expenses) is distributed on a quarterly basis. ▪ The Sub-Fund may invest in securitised debt (which includes mortgage and asset-backed securities) up to 30% of its net assets. This includes ▪ The Sub-Fund currency is USD. The share class currency is USD. collateralised loan obligations up to 25% of net assets subject to: (i) where ▪ For full investment objective and policy details see the Prospectus. investment in collateralised loan obligations is below 10% of net assets, there is no minimum credit rating; and (ii) where investment in collateralised loan obligations exceeds 10% of net assets, at least 80% of the Sub-Fund’s investment in collateralised loan obligations is in AAA- rated collateralised loan obligations and the balance is rated investment Risk and Reward Profile Lower riskHigher riskto meet its obligations which could cause losses. ▪Emerging markets risk - emerging markets are likely to bear higher Potentially lower rewardPotentially higher rewardrisk due to lower liquidity and possible lack of adequate financial, legal, social, political and economic structures, protection and stability as well as uncertain tax positions. 1 2 3 45 6 7 ▪High yield risk - high-yield instruments, meaning investments which pay a high amount of income generally involve greater credit risk and This risk profile is based on historical data and may not be a reliable sensitivity to economic developments, giving rise to greater price indication of the future risk profile of the Sub-Fund. The risk category shown movement than lower yielding instruments. is not guaranteed and may change over time. The lowest category does not▪Collateralised Loan Obligation (“CLO”) Risk - The Sub-Fund may mean risk free. It is possible that a sub-fund stated to have a lower risk profile invest in tranched securities, such as collateralised loan obligations. may in fact fall in value more than a sub-fund with a higher risk profile. These securities comprise collateral pools, separated into tranches The capital is not guaranteed. representing different degrees of collateral credit quality, with lower rated tranches being subordinate to senior tranches. The returns on Other Material Risks:these securities, particularly the junior tranches, are sensitive to the rate ▪ Market risk - the value of assets in the Sub-Fund is typically dictated of defaults in the collateral pool. From time to time the relevant marketby a number of factors, including the confidence levels of the market in for these debt instruments may become illiquid, which may limit the Sub-which they are traded.Fund’s ability to sell these debt instruments or to obtain the desired price. ▪ Operational risk - material losses to the Sub-Fund may arise as aresult of human error, system and/or process failures, inadequate▪Mortgage-backed securities ("MBS") risk - the mortgages backingprocedures or controls. MBS may be repaid earlier than required, resulting in a lower return. ▪ Liquidity risk - the Sub-Fund may not always find another party willing ▪Currency exposure risk - currency hedged share classes of the Sub-to purchase an asset that the Sub-Fund wants to sell which could impact Fund are not intended to hedge the underlying Sub-Fund currencythe Sub-Fund's ability to meet redemption requests on demand. exposures back to the investor's base currency, resulting in the investor taking speculative currency positions, which may be volatile and may ▪ Custodian risk - insolvency, breaches of duty of care or misconduct ofhave a material impact on an investor's returns.a custodian or sub-custodian responsible for the safekeeping of theSub-Fund's assets can result in loss to the Sub-Fund.▪Leverage risk - the Sub-Fund may operate with a significant amount of leverage. Leverage occurs when the economic exposure created by the ▪ Interest rate risk - when interest rates rise, bond prices fall, reflecting use of derivatives is greater than the amount invested. A leveraged Sub-the ability of investors to obtain a more attractive rate of interest on theirFund may result in large fluctuations in the value of the Sub-Fund andmoney elsewhere. Bond prices are therefore subject to movements intherefore entails a high degree of risk including the risk that losses mayinterest rates which may move for a number of reasons, political as well be substantial.as economic. ▪Contingent Convertible (“Coco”) Bond Risk - investment in this ▪ Credit risk - The failure of a counterparty or an issuer of a financial particular type of bond may result in material losses to the Sub-Fundasset held within the Sub-Fund to meet its payment obligations will have based on certain trigger events. Trigger events are likely result in up toa negative impact on the Sub-Fund.total loss of value of the bond or its conversion into shares of the issuer ▪ Derivatives risk - certain derivatives may result in losses greater than which may also have suffered a loss in value.the amount originally invested. ▪Sustainability risk - an environmental, social or governance event or ▪ Counterparty risk - a party that the Sub-Fund transacts with may fail condition that could cause the value of the portfolio to go down. Examples of sustainability risks include physical environmental risks, climate change transition risks, supply chain disruptions, improper Prospectus entitled “Risk Considerations” and discuss with your labour practices, lack of board diversity and corruption. professional advisers. ▪For more detailed information on the risks associated with an investment in the Sub-Fund, please refer to the section in the Charges The charges you pay are used to pay the cost of running the Sub-Fund, Where applicable, the entry and exit charges shown are maximum figures including the costs of marketing and distributing it. These charges reduce the and in some cases you might pay less - please contact your professional potential growth of your investment.advisers for more information. One-off charges taken before or after you investThe ongoing charges figure is based on expenses for the year ending December 2025. This figure may vary from year to year. It excludes Entry charge none* transaction costs (including taxes and brokerage commissions) and any borrowing costs, which are payable from the assets of the Portfolio and may Exit charge none* impact returns on your investment, and performance fees (where applicable). This is the maximum that might be taken out of your money before it is *Not applicable to secondary market investors. Investors dealing on a stock invested / before the proceeds of your investment are paid out. exchange will pay fees charged by their stock brokers. Such charges are Charges taken over a year publicly available on exchanges on which the shares are listed and traded, or can be obtained from stock brokers. Ongoing charges 0.40% *Authorised participants dealing directly with the Sub-Fund will pay related Charges taken under certain specific conditions transaction costs. Performance fee none For more information about charges, please refer to the Fund's Prospectus, section entitled “Fees and Expenses” and the relevant supplement for the Sub-Fund. Past Performance The Sub-Fund was launched in March 2026. The share class was launched ◼CLASS USD (Q-Dist) (IE000DHPZ1N9) in March 2026. ◼Bloomberg Global Aggregate (USD Hedged) Index Please be aware that past performance is not indicative of future performance which may vary. 1.2 10.8 There is insufficient data to provide a useful indication of past performance. % 0.60.40.2 0 202120222023 2024 2025 Practical Information Depositary: The Bank of New York Mellon SA/NV Dublin Branch Tax Legislation: This Sub-Fund's investments may be subject to tax in the Further Information: The Prospectus, annual and semi-annual reports and countries in which it invests. In addition, this Sub-Fund is subject to the tax latest share price are available free of charge from the Fund's registered law and regulation of Ireland which may have an impact on your personal tax office, the Manager, administrator or the Sub-Fund's distributors. position and impact your investment. For further details, please speak to your This document is for a single Sub-Fund of the Fund and the Prospectus, professional advisers. annual and semi-annual reports are for the entire Fund. Remuneration Policy: Details of the up-to-date remuneration policy of the The Fund is an Irish collective asset-management vehicle with segregatedManager, including, but not limited to, a description of how the remuneration liability between Sub-Funds under Irish law. Therefore, the assets of the Sub- and benefits are determined and governed by the Manager, are available at Fund you have invested in will not be used to pay the liabilities of other Sub- https://www.gsam.com/sm/remunerationpolicy and a paper copy is made Funds. However, this has not been tested in other jurisdictions.available free of charge upon request. The Sub-Fund will publicly disclose its complete holdings on a daily basis. Switching between Sub-Funds: Shares are available in other shareDetails of the Sub-Fund's holdings and full disclosure policy are available at classes and in other currencies as may be specified in the Prospectus. www.gsam.com. The indicative net asset values (iNAVs) are disseminated Shareholders may apply for their shares in any share class of any Sub-Fund and are displayed on major market data vendor terminals, including to be converted into any share class of another Sub-Fund, subject to theBloomberg, Reuters. conditions set out in the Prospectus (charges may apply). Liability Statement: The Fund may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. This Fund is authorised in Ireland and regulated by the Central Bank of Ireland. The Manager is authorised in Ireland and regulated by the Central Bank of Ireland. This key investor information is accurate as at 18/02/2026.