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Custody, clearing and certain brokerage services are offered by Folio Investments, Inc., d/b/a Goldman Sachs Custody Solutions ("GSCS"), a registered broker-dealer and member FINRA/MSRB/SIPC. Folios can be managed by an investment advisor or unmanaged and are not registered investment companies. Additional brokerage services are provided by Goldman Sachs & Co. LLC ("GS&Co."), which is an SEC-registered broker-dealer and investment adviser, and member FINRA/MSRB/SIPC. Research GSCS and GS&Co. at FINRA's BrokerCheck. Neither this website nor any of its contents shall constitute an offer, solicitation, or advice to buy or sell securities in any jurisdictions where GSCS or GS&Co. are not registered.

GSCS and GS&Co. are subsidiaries of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management and financial services organization. The Goldman Sachs Group, Inc. and its subsidiaries and employees (collectively, "Goldman Sachs") are engaged in businesses and have interests other than the services provided by GSCS and GS&Co.

Margin loans are provided by GSCS. Other loans may be provided by Goldman Sachs Bank USA, Salt Lake City Branch, member FDIC, or other Goldman Sachs entities.

For GS Select: Loans are offered by the Salt Lake City branch of Goldman Sachs Bank USA. Member FDIC. Goldman Sachs Private Bank Select and GS Select are registered trademarks of GS&Co. Credit and collateral criteria as well as additional terms and conditions apply. Securities-based lines of credit may not be used to purchase or carry margin securities may not be suitable for all loan parties. You should consider whether a securities based loan is suitable before proceeding.

© 2025 The Goldman Sachs Group, Inc. All rights reserved.

Investment products are: NOT FDIC INSURED • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, GOLDMAN SACHS BANK USA • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED