Goldman Sachs Global Environmental Impact Equity Portfolio Class P Shares (GBP)/  LU2106860880  /

The Portfolio seeks to generate positive and measurable environmental impact alongside capital growth over the longer term. The Portfolio will mostly hold shares or similar instruments relating to companies anywhere in the world, which in the view of the Investment Adviser are aligned to the key themes associated with solving environmental problems including, but not limited to, clean energy, resource efficiency, sustainable consumption and production, circular economy and water sustainability and which the Investment Adviser considers to be sustainable investments. The Portfolio will be concentrated and may have significant exposure to specific sectors, including but not limited technology and consumer sectors. The Portfolio may use derivative instruments to help manage risks and for cash management purposes . A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of other underlying assets. The Portfolio may invest in mainland China equity securities directly through the Stock Connect scheme or the Renminbi qualified foreign institutional investor program, or indirectly through access products. Shares in the Portfolio may be redeemed daily (on each business day) on demand.

The Portfolio seeks to generate positive and measurable environmental impact alongside capital growth over the longer term.