Goldman Sachs Access China Government Bond UCITS Key Investor Information ETF (the “Sub-Fund”) This document provides you with key investor information about this fund. It is not marketing material. CLASS USD (Dist) The information is required by law to help you understand the nature and the risks of investing in this fund. You are (ISIN: IE00BJSBCS90) advised to read it so you can make an informed decision about whether to invest. a sub-fund of Goldman Sachs ETF ICAV (the “Fund”) 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 is passively managed and seeks to provide income and or more parties whose value depends on the rise and fall of other capital growth over the longer term and aims to achieve investment results underlying assets. that closely correspond, before fees and expenses, to the performance of ▪ The Sub-Fund will not invest more than one-tenth of its assets in other the FTSE Goldman Sachs China Government Bond Index (the “Index”). collective investment schemes. ▪ The Index is designed to measure the performance of fixed-rate▪ Shares in the Sub-Fund may be redeemed daily (on each business day) government bonds issued in mainland China which includes fixed-rate on demand. book-entry government bonds but excludes zero-coupon bonds, saving▪ Income (net of expenses) is distributed on a semi-annual basis. bonds, special government bonds, bonds whose maturity is greater than 30-years, and bonds issued prior to January 1, 2005. ▪ The Sub-Fund currency is USD. The share class currency is USD. ▪ The Sub-Fund will mostly invest in fixed-income securities issued by the ▪ In normal circumstances, only authorised participants (e.g. select financial Chinese government. institutions) may deal in shares (or interests in shares) directly with the ▪ The Sub-Fund invests in a representative sample of constituent securities Sub-Fund. Other investors can deal in shares (or interests in shares) daily that has a collective investment profile similar to that of the Index. The through an intermediary on stock exchange(s) on which the shares are securities selected for investment by the Sub-Fund are expected to have,traded. in the aggregate, investment characteristics, fundamental characteristics ▪ For full investment objective and policy details see the Prospectus. and liquidity measures similar to those of the Index. The Sub-Fund may or may not hold all of the securities in the Index. ▪ The Sub-Fund may use derivatives for efficient portfolio management purposes, to help manage risks and for investment purposes in order to seek to increase return. A derivative instrument is a contract between two Risk and Reward Profile Lower riskHigher riskchanges in the value of the underlying asset that they are based on. Certain derivatives may result in losses greater than the amount Potentially lower rewardPotentially higher rewardoriginally invested. ▪Counterparty risk - a party that the Sub-Fund transacts with may fail to meet its obligations which could cause losses. 1 2 3 45 6 7 ▪Emerging markets risk - emerging markets are likely to bear higher risk due to lower liquidity and possible lack of adequate financial, legal, This risk profile is based on historical data and may not be a reliable social, political and economic structures, protection and stability as well indication of the future risk profile of the Sub-Fund. The risk category shown as uncertain tax positions. is not guaranteed and may change over time. The lowest category does not▪Sustainability risk - an environmental, social or governance event or mean risk free. It is possible that a sub-fund stated to have a lower risk profile condition that could cause the value of the portfolio to go down. may in fact fall in value more than a sub-fund with a higher risk profile. Examples of sustainability risks include physical environmental risks, The Sub-Fund is in category 3 as it mostly invests in fixed income securitiesclimate change transition risks, supply chain disruptions, improper which typically experience lower levels of price fluctuation than shares and labour practices, lack of board diversity and corruption. similar instruments.▪Index tracking error risk - the performance of the Sub-Fund may not The capital is not guaranteed. generally follow and may be very different from the performance of the Index. The anticipated tracking error has been calculated using Other Material Risks:historical data and therefore may not capture all factors that will impact ▪ Market risk - the value of assets in the Sub-Fund is typically dictated a Sub-Fund's actual performance against its reference index.by a number of factors, including the confidence levels of the market in ▪Risks associated with investments in China: The Sub-Fund'swhich they are traded.operations and financial results could be adversely affected by ▪ Operational risk - material losses to the Sub-Fund may arise as a adjustments in the PRC's state plans, political, economic and socialresult of human error, system and/or process failures, inadequate conditions, changes in the policies of the PRC government and lawsprocedures or controls. and regulations, in particular where investments are made through any of the investment regime introduced by the PRC government. ▪ Liquidity risk - the Sub-Fund may not always find another party willingto purchase an asset that the Sub-Fund wants to sell which could impact ▪Fixed-Income Securities Risk - Investment by the Sub-Fund in thesethe Sub-Fund's ability to meet redemption requests on demand. securities exposes it to the risk of the issuer's or a guarantor's inability to meet principal and interest payments on its obligations (i.e., credit ▪ Exchange rate risk - changes in exchange rates may reduce or risk). These securities may also be subject to price volatility due toincrease the returns an investor might expect to receive independent of factors such as interest rate sensitivity, market perception of thethe performance of such assets. Hedging of this risk may not be fully creditworthiness of the issuer, and general market liquidity (i.e., marketeffective and may increase other risks (e.g. derivative risk).risk). A Sub-Fund's investments in these securities may be subject to ▪ Custodian risk - insolvency, breaches of duty of care or misconduct ofearly redemption features which may have a material adverse effect ona custodian or sub-custodian responsible for the safekeeping of the the Sub-Fund's investment objective and the profits on invested capital.Sub-Fund's assets can result in loss to the Sub-Fund.▪Sampling Risk - The use of a representative sampling approach will ▪ Interest rate risk - when interest rates rise, bond prices fall, reflecting result in the Sub-Fund holding a smaller number of securities than arethe ability of investors to obtain a more attractive rate of interest on theirin the Index. As a result, an adverse development with respect to amoney elsewhere. Bond prices are therefore subject to movements insecurity held by the Sub-Fund could result in a greater decline in Netinterest rates which may move for a number of reasons, political as well Asset Value than would be the case if the Sub-Fund held all of theas economic. securities in the respective Index. ▪ Credit risk - The failure of a counterparty or an issuer of a financial ▪For more detailed information on the risks associated with anasset held within the Sub-Fund to meet its payment obligations will have investment in the Sub-Fund, please refer to the section in thea negative impact on the Sub-Fund.Prospectus entitled “Risk Considerations” and discuss with your professional advisers. ▪ Derivatives risk - derivative instruments are highly sensitive to 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 theand 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 invest The ongoing charges figure is based on expenses for the year ending December 2024. 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 0.24% *Authorised participants dealing directly with the Sub-Fund will pay related Charges taken under certain specific conditions transaction costs. Performance feenone 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 CLASS USD (Dist) (IE00BJSBCS90) The Sub-Fund was launched in October 2019. The share class was launched FTSE Goldman Sachs China Government Bond Indexin October 2019. Where applicable, past performance has been calculated in USD and is expressed as a percentage change of the Sub-Fund''s Net Asset Value at each year end (net of all fees). Where past performance is not shown there is insufficient data to provide a useful indication of past performance. Please be aware that past performance is not indicative of future performance which may vary. % 2015 2016 2017 2018 2019 2020 2021 202220232024 8.87.6-5.5 2.1 4.6 9.37.9-5.4 2.3 4.7Practical Information Depositary: The Bank of New York Mellon SA/NV Dublin Branch Liability Statement: The Fund may be held liable solely on the basis of any Further Information: The Prospectus, annual and semi-annual reports and statement contained in this document that is misleading, inaccurate or latest share price are available free of charge from the Fund's registeredinconsistent with the relevant parts of the Prospectus for the Fund. office, the Manager, administrator or the Sub-Fund's distributors.Tax Legislation: This Sub-Fund's investments may be subject to tax in the This document is for a single Sub-Fund of the Fund and the Prospectus,countries in which it invests. In addition, this Sub-Fund is subject to the tax annual and semi-annual reports are for the entire Fund. law and regulation of Ireland which may have an impact on your personal tax The Fund is an Irish collective asset-management vehicle with segregated position and impact your investment. For further details, please speak to your liability between Sub-Funds under Irish law. Therefore, the assets of the Sub-professional advisers. Fund you have invested in will not be used to pay the liabilities of other Sub- Remuneration Policy: Details of the up-to-date remuneration policy of the Funds. However, this has not been tested in other jurisdictions. Manager, including, but not limited to, a description of how the remuneration The Sub-Fund is not in any way connected to or sponsored, endorsed, sold and benefits are determined and governed by the Manager, are available at or promoted by the London Stock Exchange Group plc and its group https://www.gsam.com/sm/remunerationpolicy and a paper copy is made undertakings (collectively, the “LSE Group”). The LSE Group does not accept available free of charge upon request. any liability whatsoever to any person arising out of the use of Sub-Fund or The Sub-Fund will publicly disclose its complete holdings on a daily basis. the underlying data. Details of the Sub-Fund's holdings and full disclosure policy are available at Switching between Sub-Funds: Shares are available in other share www.gsam.com. The indicative net asset values (iNAVs) are disseminated classes and in other currencies as may be specified in the Prospectus.and are displayed on major market data vendor terminals, including Shareholders may apply for their shares in any share class of any Sub-FundBloomberg, Reuters. to be converted into any share class of another Sub-Fund, subject to the conditions set out in the Prospectus (charges may apply). 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 07/02/2025.