As of 08-03-2018 Holdings Report GS Sterling Liquid Reserves Fund Portfolio holdings may not be representative of current or future investments. Future portfolio holdings may not be profitable. Description Maturity Date Par Value Date % of Portfolio LMA 06/08/2018 182,800,000 1.62% LMA 09/08/2018 5,000,000 0.04% REGENCY ASSETS LIMITED 09/08/2018 40,000,000 0.35% MANAGED AND ENHANCED TAP 14/08/2018 41,100,000 0.36% ALBION CAPITAL CORPORATIO 20/08/2018 155,000,000 1.37% SHEFFIELD RECEIVABLES COM 20/08/2018 49,800,000 0.44% LMA 21/08/2018 50,000,000 0.44% MATCHPOINT FINANCE PLC 21/08/2018 91,300,000 0.81% ALBION CAPITAL CORPORATIO 22/08/2018 31,000,000 0.27% MANAGED AND ENHANCED TAP 23/08/2018 26,500,000 0.23% MANAGED AND ENHANCED TAP 04/09/2018 44,600,000 0.39% MATCHPOINT FINANCE PLC 11/09/2018 24,000,000 0.21% MATCHPOINT FINANCE PLC 20/09/2018 29,800,000 0.26% MANAGED AND ENHANCED TAP 01/10/2018 70,500,000 0.62% MANAGED AND ENHANCED TAP 15/10/2018 31,500,000 0.28% MATCHPOINT FINANCE PLC 18/10/2018 69,000,000 0.61% MANAGED AND ENHANCED TAP 01/11/2018 40,200,000 0.36% MATCHPOINT FINANCE PLC 01/11/2018 25,000,000 0.22% LMA 07/11/2018 40,000,000 0.35% COLLATERALIZED COMMERCIAL 19/11/2018 7,000,000 0.06% COLLATERALIZED COMMERCIAL 13/12/2018 25,000,000 0.22% LMA 14/12/2018 35,000,000 0.31% MATCHPOINT FINANCE PLC 22/01/2019 24,000,000 0.21% COLLATERALIZED COMMERCIAL 04/02/2019 50,000,000 0.44% ASSET BACKED COMMERCIAL PAPER 1,188,100,000 10.50% LMA 15/11/2018 75,000,000 0.66% ASSET BACKED VARIABLE RATE OBLIGATIONS 75,000,000 0.66% CREDIT SUISSE AG-LONDON B 06/08/2018 48,500,000 0.43% ING BANK NV-LONDON BRANCH 08/08/2018 25,000,000 0.22% SVENSKA HANDELSBANKEN AB 08/08/2018 100,000,000 0.88% BNP PARIBAS-LONDON BRANCH 09/08/2018 50,000,000 0.44% QATAR NATIONAL BANK SAQ - 10/08/2018 216,000,000 1.91% NORINCHUKIN BANK (THE) 13/08/2018 100,000,000 0.88% STANDARD CHARTERED BANK-L 13/08/2018 50,000,000 0.44% SVENSKA HANDELSBANKEN AB 13/08/2018 50,000,000 0.44% INDUSTRIAL & COMMERCIAL B 16/08/2018 30,000,000 0.27% CREDIT AGRICOLE CORPORATE 03/09/2018 100,000,000 0.88% ING BANK N.V. 05/09/2018 25,000,000 0.22% NORINCHUKIN BANK (THE) 07/09/2018 73,000,000 0.65% ABN AMRO BANK N.V. 10/09/2018 48,500,000 0.43% CREDIT AGRICOLE CORPORATE 10/09/2018 100,000,000 0.88% INDUSTRIAL & COMMERCIAL B 10/09/2018 25,000,000 0.22% CITIBANK, NATIONAL ASSOCI 11/09/2018 100,000,000 0.88% 1
MIZUHO BANK, LTD.-LONDON 11/09/2018 75,000,000 0.66% BNP PARIBAS-LONDON BRANCH 14/09/2018 35,000,000 0.31% ING BANK NV-LONDON BRANCH 17/09/2018 25,000,000 0.22% MITSUBISHI UFJ TRUST AND 24/09/2018 50,000,000 0.44% MUFG SECURITIES EMEA PLC 25/09/2018 50,000,000 0.44% NORINCHUKIN BANK (THE) 25/09/2018 30,000,000 0.27% MIZUHO BANK, LTD.-LONDON 28/09/2018 50,000,000 0.44% BNP PARIBAS-LONDON BRANCH 01/10/2018 52,000,000 0.46% INDUSTRIAL & COMMERCIAL B 02/10/2018 25,000,000 0.22% BANK OF AMERICA, N.A.-LON 08/10/2018 50,000,000 0.44% MIZUHO BANK, LTD.-LONDON 10/10/2018 30,000,000 0.27% INDUSTRIAL & COMMERCIAL B 12/10/2018 25,000,000 0.22% SVENSKA HANDELSBANKEN AB 12/10/2018 50,000,000 0.44% BNP PARIBAS-LONDON BRANCH 15/10/2018 30,000,000 0.27% SUMITOMO MITSUI TRUST BAN 15/10/2018 75,000,000 0.66% ING BANK N.V. 18/10/2018 50,000,000 0.44% MIZUHO BANK, LTD.-LONDON 19/10/2018 30,000,000 0.27% MUFG BANK, LTD.-LONDON BR 30/10/2018 25,000,000 0.22% MIZUHO BANK, LTD.-LONDON 31/10/2018 30,000,000 0.27% MUFG BANK, LTD.-LONDON BR 31/10/2018 55,000,000 0.49% COOEPERATIEVE RABOBANK U. 01/11/2018 30,000,000 0.27% CREDIT AGRICOLE CORPORATE 01/11/2018 55,225,000 0.49% ING BANK NV-LONDON BRANCH 02/11/2018 50,000,000 0.44% LLOYDS BANK PLC 05/11/2018 50,000,000 0.44% BNP PARIBAS-LONDON BRANCH 06/11/2018 100,000,000 0.88% BNP PARIBAS-LONDON BRANCH 12/11/2018 50,000,000 0.44% BRED BANQUE POPULAIRE 12/11/2018 50,000,000 0.44% CREDIT AGRICOLE CORPORATE 12/11/2018 50,000,000 0.44% MIZUHO BANK, LTD.-LONDON 13/11/2018 75,000,000 0.66% ING BANK NV-LONDON BRANCH 16/11/2018 25,000,000 0.22% SUMITOMO MITSUI TRUST BAN 19/11/2018 30,000,000 0.27% BANK OF AMERICA, N.A.-LON 21/11/2018 10,000,000 0.09% BANK OF AMERICA, N.A.-LON 26/11/2018 50,000,000 0.44% ING BANK NV-LONDON BRANCH 03/12/2018 25,000,000 0.22% BANK OF AMERICA, N.A.-LON 12/12/2018 20,000,000 0.18% AUSTRALIA AND NEW ZEALAND 21/12/2018 26,000,000 0.23% BANK OF AMERICA, N.A.-LON 09/01/2019 30,000,000 0.27% BNP PARIBAS-LONDON BRANCH 14/01/2019 50,000,000 0.44% ABN AMRO BANK N.V. 01/02/2019 25,000,000 0.22% COOEPERATIEVE RABOBANK U. 04/02/2019 50,000,000 0.44% COOEPERATIEVE RABOBANK U. 18/04/2019 50,000,000 0.44% CERTIFICATES OF DEPOSIT 2,884,225,000 25.50% BMW INTERNATIONAL INVESTM 06/08/2018 50,000,000 0.44% OP CORPORATE BANK PLC 06/08/2018 18,750,000 0.17% NORDEA BANK AB 07/08/2018 20,000,000 0.18% BANQUE FEDERATIVE DU CRED 08/08/2018 10,000,000 0.09% NORDEA BANK AB 13/08/2018 50,000,000 0.44% OP CORPORATE BANK PLC 13/08/2018 43,500,000 0.38% SUMITOMO MITSUI BANKING C 13/08/2018 100,000,000 0.88% COLLATERALIZED COMMERCIAL 17/08/2018 66,500,000 0.59% MUFG SECURITIES EMEA PLC 17/08/2018 50,000,000 0.44% BANQUE FEDERATIVE DU CRED 24/08/2018 50,000,000 0.44% BARCLAYS BANK UK PLC 24/08/2018 53,000,000 0.47% NORINCHUKIN BANK-LONDON B 24/08/2018 53,000,000 0.47% SUMITOMO MITSUI BANKING C 24/08/2018 50,000,000 0.44% BANQUE FEDERATIVE DU CRED 03/09/2018 55,000,000 0.49% 2
BRED BANQUE POPULAIRE 10/09/2018 54,200,000 0.48% MITSUBISHI UFJ TRUST AND 17/09/2018 50,000,000 0.44% BANQUE FEDERATIVE DU CRED 18/09/2018 50,000,000 0.44% UNITED OVERSEAS BANK LIMI 18/09/2018 75,000,000 0.66% DBS BANK LTD 24/09/2018 50,000,000 0.44% INDUSTRIAL AND COMMERCIAL 25/09/2018 25,000,000 0.22% SUMITOMO MITSUI BANKING C 25/09/2018 50,000,000 0.44% OVERSEA-CHINESE BANKING C 26/09/2018 39,500,000 0.35% SUMITOMO MITSUI BANKING C 26/09/2018 75,000,000 0.66% SCHLUMBERGER FINANCE B.V. 28/09/2018 80,000,000 0.71% BANQUE FEDERATIVE DU CRED 04/10/2018 50,000,000 0.44% MUFG SECURITIES EMEA PLC 04/10/2018 35,000,000 0.31% BRED BANQUE POPULAIRE 05/10/2018 50,000,000 0.44% OVERSEA-CHINESE BANKING C 05/10/2018 50,000,000 0.44% DZ BANK AG DEUTSCHE ZENTR 11/10/2018 50,000,000 0.44% OP CORPORATE BANK PLC 11/10/2018 23,000,000 0.20% SUMITOMO MITSUI BANKING C 16/10/2018 30,000,000 0.27% CHINA CONSTRUCTION BANK C 17/10/2018 25,000,000 0.22% OP CORPORATE BANK PLC 18/10/2018 22,700,000 0.20% BANQUE FEDERATIVE DU CRED 22/10/2018 50,000,000 0.44% BMW INTERNATIONAL INVESTM 29/10/2018 50,000,000 0.44% BMW INTERNATIONAL INVESTM 30/10/2018 50,000,000 0.44% OP CORPORATE BANK PLC 31/10/2018 40,000,000 0.35% BANQUE FEDERATIVE DU CRED 07/11/2018 26,475,000 0.23% OP CORPORATE BANK PLC 08/11/2018 20,500,000 0.18% ING BANK N.V. 14/11/2018 25,000,000 0.22% BANQUE FEDERATIVE DU CRED 15/11/2018 30,000,000 0.27% SUMITOMO MITSUI BANKING C 16/11/2018 30,000,000 0.27% OP CORPORATE BANK PLC 19/11/2018 37,500,000 0.33% OP CORPORATE BANK PLC 30/11/2018 33,000,000 0.29% OP CORPORATE BANK PLC 06/12/2018 18,750,000 0.17% TORONTO-DOMINION BANK (TH 10/12/2018 20,000,000 0.18% BRED BANQUE POPULAIRE 13/12/2018 27,500,000 0.24% OVERSEA-CHINESE BANKING C 14/12/2018 50,000,000 0.44% TORONTO-DOMINION BANK (TH 18/12/2018 25,000,000 0.22% OP CORPORATE BANK PLC 07/01/2019 35,000,000 0.31% BANQUE FEDERATIVE DU CRED 10/01/2019 25,000,000 0.22% OP CORPORATE BANK PLC 10/01/2019 23,000,000 0.20% OP CORPORATE BANK PLC 11/01/2019 17,500,000 0.15% BRED BANQUE POPULAIRE 14/01/2019 27,500,000 0.24% COLLATERALIZED COMMERCIAL 16/01/2019 50,000,000 0.44% OP CORPORATE BANK PLC 17/01/2019 29,200,000 0.26% SANTANDER UK PLC 06/02/2019 40,000,000 0.35% COMMERCIAL PAPER 2,335,075,000 20.64% ERSTE ABWICKLUNGSANSTALT 08/08/2018 85,000,000 0.75% ERSTE ABWICKLUNGSANSTALT 15/08/2018 40,000,000 0.35% DEXIA CREDIT LOCAL 20/08/2018 30,000,000 0.27% ERSTE ABWICKLUNGSANSTALT 20/08/2018 50,000,000 0.44% DEXIA CREDIT LOCAL 04/09/2018 50,000,000 0.44% ERSTE ABWICKLUNGSANSTALT 05/09/2018 50,000,000 0.44% DEXIA CREDIT LOCAL 10/10/2018 50,000,000 0.44% EURO SOVEREIGN COMMERCIAL PAPER 355,000,000 3.14% DEXIA CREDIT LOCAL 05/12/2018 40,000,000 0.35% GOVERNMENT GUARANTEE VARIABLE RATE OBLIGATIONS 40,000,000 0.35% 3
BARCLAYS BANK PLC 06/08/2018 679,000,000 6.00% BNP PARIBAS 06/08/2018 94,350,000 0.83% J.P. MORGAN SECURITIES PL 06/08/2018 235,400,000 2.08% MERRILL LYNCH INTERNATION 06/08/2018 48,000,000 0.42% SOCIETE GENERALE 06/08/2018 350,000,000 3.09% REPURCHASE AGREEMENT 1,406,750,000 12.44% SCOTIABANK EUROPE PLC 06/08/2018 150,000,000 1.33% REPURCHASE AGREEMENT (OTHER) 150,000,000 1.33% UNITED KINGDOM OF GREAT B 06/08/2018 230,000,000 2.03% SOVEREIGN OBLIGATION 230,000,000 2.03% GBP TIME DEPOSIT BREDBP 06/08/2018 325,000,000 2.87% GBP TIME DEPOSIT CALYON 06/08/2018 229,000,000 2.02% GBP TIME DEPOSIT INGNV 06/08/2018 175,000,000 1.55% GBP TIME DEPOSIT NBABUDH 06/08/2018 404,500,000 3.58% MUFG BANK, LTD.-LONDON BR 06/08/2018 220,000,000 1.94% TIME DEPOSIT 1,353,500,000 11.96% UNITED KINGDOM OF GREAT B 14/01/2019 20,000,000 0.18% UK TREASURY BILL 20,000,000 0.18% BNP PARIBAS 20/08/2018 50,000,000 0.44% LLOYDS BANK PLC 20/08/2018 50,000,000 0.44% ING BANK N.V. 22/08/2018 85,000,000 0.75% TORONTO-DOMINION BANK (TH 25/09/2018 50,000,000 0.44% TORONTO-DOMINION BANK (TH 09/11/2018 50,000,000 0.44% ING BANK N.V. 19/11/2018 25,000,000 0.22% COOEPERATIEVE RABOBANK U. 20/11/2018 25,000,000 0.22% NATIONAL AUSTRALIA BANK L 23/11/2018 50,000,000 0.44% LLOYDS BANK PLC 18/12/2018 50,000,000 0.44% VARIABLE RATE CD 435,000,000 3.85% HONG KONG MORTGAGE CORPOR 18/09/2018 50,000,000 0.44% DZ BANK AG DEUTSCHE ZENTR 14/11/2018 50,000,000 0.44% TORONTO-DOMINION BANK (TH 17/12/2018 75,000,000 0.66% BANK OF NOVA SCOTIA (THE) 14/01/2019 7,000,000 0.06% COOEPERATIEVE RABOBANK U. 16/01/2019 50,000,000 0.44% COOEPERATIEVE RABOBANK U. 13/02/2019 22,000,000 0.19% WESTPAC BANKING CORPORATI 19/03/2019 53,500,000 0.47% NATIONAL AUSTRALIA BANK L 20/03/2019 62,500,000 0.55% COMMONWEALTH BANK OF AUST 21/03/2019 47,500,000 0.42% DBS BANK LTD 22/03/2019 71,000,000 0.63% TOYOTA MOTOR FINANCE (NET 22/03/2019 25,000,000 0.22% METROPOLITAN LIFE GLOBAL 06/04/2019 50,000,000 0.44% TORONTO-DOMINION BANK (TH 18/06/2019 60,000,000 0.53% AUSTRALIA AND NEW ZEALAND 21/06/2019 50,000,000 0.44% WESTPAC BANKING CORPORATI 10/07/2019 47,500,000 0.42% COMMONWEALTH BANK OF AUST 12/07/2019 47,500,000 0.42% TORONTO-DOMINION BANK (TH 25/07/2019 46,500,000 0.41% TOYOTA MOTOR FINANCE (NET 06/08/2019 25,000,000 0.22% VARIABLE RATE OBLIGATIONS 840,000,000 7.43% GRAND TOTAL 11,312,650,000 100.00% 4
This material is provided for intended recipients only, not for the use or distribution to the general public. Offering Documents This material is provided at your request for informational purposes only and does not constitute a solicitation in any jurisdiction in which such a solicitation is unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not constitute an offer to buy shares in the fund. Prior to an investment, prospective investors should carefully read the latest Key Investor Information Document (KIID) as well as the offering documentation, including but not limited to the fund's prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of association, prospectus, supplement, KIID and latest annual/semi-annual report are available free of charge from the fund's paying and information agent and/or from your financial adviser. Distribution of Shares Shares of the fund may not have been registered or will not be registered for public distribution in a number of jurisdictions (including but not limited to any Latin American, African or Asian countries). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unless such marketing or offering is made in compliance with applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and regulations. Investment Advice and Potential Loss Financial advisers generally suggest a diversified portfolio of investments. The fund described herein does not represent a diversified investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult their financial and tax adviser before investing in order to determine whether an investment would be suitable for them. An investor should only invest if he/she has the necessary financial resources to bear a complete loss of this investment. Investment Not Insured Investment into the fund is not insured or guaranteed by any Government agency, including the Federal Deposit Insurance Company, and is not the same as placing funds on deposit with a bank or deposit-taking company. Although the Goldman Sachs money market funds seek to preserve a stable net asset value per share, it is possible to lose money by investing in the funds. THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO. Prospective investors should inform themselves as to any applicable legal requirements and taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant. This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client's account should or would be handled, as appropriate investment strategies depend upon the client's investment objectives. This document has been issued by Goldman Sachs International, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Confidentiality No part of this material may, without GSAM s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient. 2018 Goldman Sachs. All rights reserved. 102302-TMPL-08/2017-584146 5