Goldman Sachs Securities Action

The Notice was issued pursuant to Federal Rule of Civil Procedure 23 and an Order of the United States District Court for the Southern District of New York to inform you of a class action lawsuit that is pending in the Court against The Goldman Sachs Group, Inc. (“Goldman”) and its former executives Lloyd C. Blankfein and Gary D. Cohn (together with Goldman, “Defendants”) and that the Action has been certified by the Court to proceed as a class action on behalf of the Class.

A class action is a type of lawsuit in which one or several individuals or entities prosecute claims on behalf of all members of a group of similarly situated persons and entities to obtain monetary or other relief for the benefit of the entire group. Class actions avoid the necessity of each member of a class having to file his, her, or its own separate lawsuit to obtain relief. Class actions are used to decide legal and factual issues that are common to all members of a class.

The Court appointed Sjunde AP-Fonden (“AP7”) as the Class Representative for the Class.

The Action alleges that Defendants violated the federal securities laws by making false and misleading statements pertaining to the 1Malaysia Development Berhad (“1MDB”) bond transactions. The Action asserts that following public reports relating to Goldman and 1MDB, Goldman’s stock price fell, causing losses to Goldman’s investors. Defendants deny the claims and wrongdoing asserted, as well as any liability arising out of the conduct alleged in the Action.

No. The Court has not made a ruling on the merits of Class Representative’s allegations or on Defendants’ denials and defenses. By certifying the Class and ordering the issuance of this Notice, the Court is not expressing an opinion as to the merits of Class Representative’s allegations or of Defendants’ denials or defenses.

This is a class action against Defendants for alleged violations of the federal securities laws. Class Representative seeks damages under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a), and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission, 17 C.F.R. § 240.10b-5.

The Action is currently pending before the Honorable Vernon S. Broderick

No. There is no judgment, settlement, or monetary recovery at this time, and there is no assurance that a judgment in favor of the Class will be granted or that the Court will award the Class a monetary recovery. Defendants have denied Class Representative’s claims and contend that they are not liable for the harm alleged by Class Representative.

The Class includes all persons and entities that purchased or otherwise acquired Goldman’s common stock between December 22, 2016, and November 8, 2018, inclusive, and were damaged thereby.

Excluded from the Class are (i) Defendants; (ii) Goldman’s subsidiaries or affiliates; (iii) any officer, director, or controlling person of Goldman, and members of the immediate families of such persons; (iv) any entity in which a Defendant has a controlling interest; (v) Defendants’ directors’ and officers’ liability insurance carriers, and any affiliates or subsidiaries thereof; and (vi) the legal representatives, heirs, successors, and assigns of any excluded party.

IIf you are still not sure whether you are included in the Class, you can call or email the Administrator at 1-877-744-0160 info@GoldmanSachsSecuritiesAction.com

If you are a Class member and do nothing you will be bound by all past, present, and future orders and judgments in the Action, whether favorable or unfavorable to you. If any money is awarded to the Class, either through a settlement with Defendants or a judgment of the Court after a trial and post-trial appeals, you may be eligible to receive a share of that award. However, if you remain a member of the Class, you may not pursue a lawsuit on your own behalf with regard to any of the issues in the Action.

If you are a Class member and choose to be excluded from the Class, you will not be bound by any orders or judgments in the Action, nor will you be eligible to share in any recovery that might be obtained in the Action. You will retain any right you have to individually pursue any legal rights that you may have against any Defendants with respect to the claims asserted in the Action and Defendants retain all of their defenses to your claims. Please note, if you decide to exclude yourself from the Class, you may be time-barred from asserting all or a portion of the claims covered by the Action. Class Counsel offers no advice and no opinion on whether you will be able to maintain such claims.

To exclude yourself from the Class, you must send a letter or an email stating that you “request exclusion from the Class in Sjunde AP-Fonden v. The Goldman Sachs Group, Inc., et al., No. 18-CV-12084 (VSB) (KHP) (S.D.N.Y.).” Your request must state your full name, address, and telephone number, and you must sign it. If you are signing on behalf of a Class member (such as an estate, corporation, or partnership), please indicate your full name and the basis of your authority to act on behalf of the Class member, and provide proof of such authority. If you request exclusion via email, an e-signature is acceptable. Your request for exclusion must also state the number of shares of Goldman common stock purchased (or otherwise acquired) and sold during the relevant time period, as well as the dates and prices of each such transaction. You must mail or email your exclusion request by no later than March 28, 2026 , to:

Sjunde AP-Fonden v. The Goldman Sachs Group, Inc.
c/o Epiq Class Action & Claims Solutions, Inc.
EXCLUSIONS
P.O. Box 5189
Portland, OR 97208-5189
- or-
info@GoldmanSachsSecuritiesAction.com

You cannot exclude yourself from the Class by telephone. Requests for exclusion that do not comply with the above requirements will be invalid, unless otherwise accepted by the Court, subject to any objections of the parties to be resolved by the Court.

Do not request exclusion if you wish to participate in the Action as a member of the Class.

If you properly request exclusion from the Class, you will not be bound by any orders or judgments in the Action, but you also will not be eligible to share in any recovery that might be obtained in the Action. If you properly request exclusion from the Class, you may be entitled to pursue an individual lawsuit, claim, or remedy, if available, which you may have, at your own expense. Please note: if you decide to exclude yourself from the Class, you may be time-barred from asserting all or a portion of the claims covered by the Action. Class Counsel offers no advice and no opinion on whether you will be able to maintain such claims.

Yes, the Court appointed the law firm Kessler Topaz Meltzer & Check, LLP as Class Counsel.

If you have any questions concerning the matters raised in the Notice, you may contact Class Counsel, as follows:

KESSLER TOPAZ MELTZER & CHECK, LLP
Andrew L. Zivitz, Esq.
Matthew L. Mustokoff, Esq.
280 King of Prussia Road
Radnor, PA 19087

Telephone: (610) 667-7706
info@ktmc.com

You do not need to hire your own lawyer because Class Counsel is working on your behalf. But, If you want to be represented by your own lawyer, you may hire one at your own expense. If you do retain your own lawyer, such counsel must enter an appearance on your behalf by filing a Notice of Appearance with the Clerk of the Court at the United States District Court for the Southern District of New York, located at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007, by no later than March 28, 2026. Your Notice of Appearance must also be mailed to Class Counsel by no later than March 28, 2026. at the address below:

KESSLER TOPAZ MELTZER & CHECK, LLP
Andrew L. Zivitz, Esq.
Matthew L. Mustokoff, Esq.
280 King of Prussia Road
Radnor, PA 19087

If there is a future recovery by the Class in the Action, all costs and expenses of the Action, including Class Counsel’s attorneys’ fees, will be paid from that recovery in an amount approved by the Court.

This website summarizes the lawsuit and the proceedings. You can get additional information by calling 1-877-744-0160 or by writing to:

Sjunde AP-Fonden v. The Goldman Sachs Group, Inc.
c/o Epiq Class Action & Claims Solutions, Inc.
P.O. Box 5189
Portland, OR 97208-5189

You may also contact Class Counsel if you have any questions about the Action. Please do not contact the Court. You may contact Class Counsel as below:

KESSLER TOPAZ MELTZER & CHECK, LLP
Andrew L. Zivitz, Esq.
Matthew L. Mustokoff, Esq.
280 King of Prussia Road
Radnor, PA 19087

Telephone: (610) 667-7706
info@ktmc.com