Goldman Sachs Global Government Bond Active UCITS Key Investor Information ETF (the “Sub-Fund”) This document provides you with key investor Class USD (Acc) information about this fund. It is not marketing material.The information is required by law to help you understand (ISIN: IE000JQ3ELQ8) the nature and the risks of investing in this fund. You areadvised 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 to achieve a long-term return by actively investing▪ The Investment Manager has full discretion over the composition of the primarily in investment grade fixed income securities issued by assets in the Sub-Fund. While the Sub-Fund will generally hold assets that governments and government related issuers around the world.are components of the Benchmark, it can invest in such components in ▪ The Sub-Fund promotes environmental and/or social characteristics. As different proportions, and it can hold assets which are not components of the Benchmark. Therefore, returns may deviate materially from the part of its investment process, the Investment Manager will implement anperformance of the specified reference Benchmark and this includes ESG approach which consists of the application of minimum inclusion where the return of the Sub-Fund may not exceed the return of the criteria based on proprietary ESG ratings. Benchmark or underperform the Benchmark. ▪ The Sub-Fund will, under normal circumstances, invest at least two thirds ▪ In normal circumstances, only authorised participants (e.g. select financial of its net assets (excluding cash and cash equivalents) in investment grade institutions) may deal in shares (or interests in shares) directly with the fixed income transferable securities issued by governments and Sub-Fund. Other investors can deal in shares (or interests in shares) daily government related entities around the world. through an intermediary on stock exchange(s) on which the shares are ▪ The Sub-Fund may use derivatives for efficient portfolio management traded. purposes, to help manage risks and for investment purposes in order to▪ Income is rolled up into the value of your investment. seek to increase return. A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of the underlying▪ The Sub-Fund currency is USD. The share class currency is USD. asset.▪ For full investment objective and policy details see the Prospectus. ▪ The Sub-Fund is actively managed and references the J.P. Morgan Global Government Bond Index (Total Return Gross) (USD) (the “Benchmark”) as a performance comparator. Risk and Reward Profile Lower riskHigher riskas economic. ▪Credit risk - The failure of a counterparty or an issuer of a financial Potentially lower rewardPotentially higher rewardasset held within the Sub-Fund to meet its payment obligations will have a negative impact on the Sub-Fund. 1 2 3 45 6 7 ▪Derivatives risk - certain derivatives may result in losses greater than the amount originally invested. ▪Counterparty risk - a party that the Sub-Fund transacts with may fail This risk profile is based on historical data and may not be a reliable to meet its obligations which could cause losses. indication of the future risk profile of the Sub-Fund. The risk category shown is not guaranteed and may change over time. The lowest category does not▪Leverage risk - the Sub-Fund may operate with a significant amount of mean risk free. It is possible that a sub-fund stated to have a lower risk profile leverage. Leverage occurs when the economic exposure created by the may in fact fall in value more than a sub-fund with a higher risk profile. use of derivatives is greater than the amount invested. A leveraged Sub- Fund may result in large fluctuations in the value of the Sub-Fund and The capital is not guaranteed. therefore entails a high degree of risk including the risk that losses may Other Material Risks:be substantial. ▪ Market risk- the value of assets in the Sub-Fund is typically dictated by▪Exchange rate risk - changes in exchange rates may reduce ora number of factors, including the confidence levels of the market in increase the returns an investor might expect to receive independent ofwhich they are traded.the performance of such assets. If applicable, investment techniques used to attempt to reduce the risk of currency movements (hedging), ▪ Operational risk - material losses to the Sub-Fund may arise as a may not be effective. Hedging also involves additional risks associatedresult of human error, system and/or process failures, inadequate with derivatives.procedures or controls. ▪Sustainability risk - an environmental, social or governance event or ▪ Liquidity risk - the Sub-Fund may not always find another party willing condition that could cause the value of the portfolio to go down.to purchase an asset that the Sub-Fund wants to sell which could impact Examples of sustainability risks include physical environmental risks,the Sub-Fund's ability to meet redemption requests on demand. climate change transition risks, supply chain disruptions, improper ▪ Custodian risk - insolvency, breaches of duty of care or misconduct oflabour practices, lack of board diversity and corruption.a custodian or sub-custodian responsible for the safekeeping of the ▪For more detailed information on the risks associated with anSub-Fund's assets can result in loss to the Sub-Fund. investment in the Sub-Fund, please refer to the section in the ▪ Interest rate risk - when interest rates rise, bond prices fall, reflecting Prospectus entitled “Risk Considerations” and discuss with yourthe ability of investors to obtain a more attractive rate of interest on theirprofessional advisers.money elsewhere. Bond prices are therefore subject to movements ininterest rates which may move for a number of reasons, political as well 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 an estimate because there is no data available for the previous year. The Fund's annual report for each financial Entry charge0.00% year will include details of the exact charges made. This figure may vary from year to year. It excludes transaction costs (including taxes and brokerage Exit charge none* commissions) and any borrowing costs, which are payable from the assets This is the maximum that might be taken out of your money before it is of the Sub-Fund and may impact returns on your investment, and invested / before the proceeds of your investment are paid out. performance fees (where applicable). Charges taken over a year *Not applicable to secondary market investors. Investors dealing on a stock exchange will pay fees charged by their stock brokers. Such charges are Ongoing charges 0.20% publicly available on exchanges on which the shares are listed and traded, or can be obtained from stock brokers. Charges taken under certain specific conditions *Authorised participants dealing directly with the Sub-Fund will pay related Performance fee none transaction costs. 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 October 2025. The share class was launched ◼Class USD (Acc) (IE000JQ3ELQ8)in November 2025. ◼J.P. Morgan Global Government Bond Index (Total ReturnPlease be aware that past performance is not indicative of future Gross) (USD) 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 and benefits are determined and governed by the Manager, are available at liability between Sub-Funds under Irish law. Therefore, the assets of the Sub- https://www.gsam.com/sm/remunerationpolicy and a paper copy is made Fund you have invested in will not be used to pay the liabilities of other Sub- available free of charge upon request. Funds. However, this has not been tested in other jurisdictions. Switching between Sub-Funds: Shares are available in other shareThe Sub-Fund will publicly disclose its complete holdings on a daily basis. classes and in other currencies as may be specified in the Prospectus. Details of the Sub-Fund's holdings and full disclosure policy are available at 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 13/02/2026.