Monthly Dividend Option Newly Available for GS Plus All Country World Stocks

Goldman Sachs Asset Management Co., Ltd. will establish a new monthly dividend option, "GS Plus All Country World Stocks Monthly Dividend Course," for its online-distributed fund "GS Plus All Country World Stocks (All Country)." By adding a monthly dividend option, managed by the same master fund as the existing annual dividend fund, we will provide investors with further choices.

Product Name: GS Plus All Country World Stocks Monthly Dividend Course

Product Classification: Additional investment trust / Domestic and International / Stocks

Establishment Date: July 30, 2026

Initial Subscription Period: July 21, 2026 to July 29, 2026

Continuous Subscription Period: July 30, 2026 to July 20, 2027

(The continuous subscription period will be renewed by submitting a securities registration statement before the expiration of the above period.)

Distributing Securities Companies (as of July 2, 2026)

Monex Securities Inc.

Rakuten Securities, Inc.

Fund Highlights

1. Invests in stocks of companies worldwide, including Japan.

2. Aims for investment performance that exceeds the MSCI All Country World Index (net dividends included, yen-based) over the long term, using it as a benchmark.

3. Diversifies investments across a wide range of stocks using a proprietary quantitative model developed by Goldman Sachs Asset Management.

Through investment in Exchange Traded Funds (ETFs), it invests in stocks of developed countries, including Japan, and emerging countries. Depending on the investment environment, it may invest directly in stocks, etc. In principle, currency hedging against the yen is not performed. Investment may not be possible in accordance with the investment policy due to market trends, fund flows, or other factors. While this fund aims for investment performance exceeding the benchmark over the long term, actual investment performance may fall below the benchmark.

Performance of GS Plus All Country World Stocks

*The following is the performance of "GS Plus All Country World Stocks" established on July 30, 2025, and not the performance of "GS Plus All Country World Stocks Monthly Dividend Course."

Period: July 30, 2025 (Establishment Date) - End of April 2026, Source: MSCI, Goldman Sachs Asset Management GS Plus All Country World Stocks: Using the net asset value with dividend reinvestment, Benchmark: MSCI All Country World Index (net dividends included, yen-based) converted to yen using exchange rates available to us (indexed with the establishment date as 10,000). The net asset value with dividend reinvestment above is after deducting trust fees. For trust fees, please refer to "Fund Expenses." The net asset value with dividend reinvestment is calculated assuming that dividend distributions (before tax) are reinvested at the time of distribution. Depending on operating conditions, the amount of dividend distribution may change, or no dividend may be paid. The above is past performance and does not suggest or guarantee future investment results.

What's Different! The Management of GS Plus All Country World Stocks

Point 1: Active Management Utilizing Data and AI - What's the Difference from Index Management?

As an active fund, this fund selects promising stocks from a wider investment universe than the constituents of the MSCI All Country World Index (net dividends included, yen-based) (hereinafter referred to as the "Index") through ETFs.

By utilizing computer analysis, it is possible to instantly derive beneficial investment decisions from a wide and vast amount of data, allowing for the investigation of approximately 15,000 companies.

In practice, such differences are observed in the number of constituent stocks compared to the index, the method of determining the weight of each stock, and the frequency of stock turnover.

As of: End of April 2026, Source: MSCI, Goldman Sachs Asset Management The above data is as of the base date and does not guarantee future results; it may fluctuate due to market trends, etc. Furthermore, the portfolio composition is subject to change at any time in consideration of market trends, etc. While this fund aims for investment performance exceeding the benchmark over the long term, actual investment performance may fall below the benchmark. Information regarding the index is provided as a reference for a part of the index overview and does not represent actual investment results or policies. Also, direct investment in the index is not possible. Investment may not be possible in accordance with the investment policy due to market trends, fund flows, or other factors.

Point 2: Management Method of This Fund

In the ETFs that are the investment targets of this fund, in addition to traditional data such as financial statements, new types of data such as news articles and web access volume are also utilized.

These data are analyzed using AI (machine learning and natural language processing) in addition to quantitative methods.

The portfolio is optimized by increasing the weighting of stocks with high overall evaluations, considering factors such as estimated risk and transaction costs.

The entire process, including the determination of portfolio constituents, is supervised by fund managers.

Examples of Data Used in Fund Management

The data and analysis methods described above are as of the preparation of this document and are continuously improved and updated. The above is for deepening understanding through examples, and the illustrations are conceptual. *Please also refer to "Points to Note Regarding Quantitative Management" described later. In the ETFs that are the investment targets of this fund, companies related to the following businesses are generally excluded from investment: problematic weapons including nuclear weapons, chemical weapons, tobacco, coal mining, coal power generation, nuclear power generation, gambling, adult entertainment, private prisons, palm oil, and biocides.

Example of Data Utilization

The data used is diverse. For example, by utilizing credit card payment data, it is possible to predict strong performance before earnings are announced and adjust portfolio weights accordingly.

The above is merely an example and does not apply to all companies. It does not guarantee that the above-mentioned management can be realized. Illustrations are for illustrative purposes.

Point 3: Commitment to Costs - Aiming for Returns Exceeding the Index After Cost Deduction.

This fund aims to achieve returns that exceed the index (MSCI All Country World Index) after deducting costs, by keeping costs (trust fees) at a relatively low level.

Purchase fees and other expenses are not considered. While this fund aims for investment performance exceeding the benchmark over the long term, actual investment performance may fall below the benchmark.

Comparison of Trust Fees* with Average of Each Fund (Annual Rate, Including Tax)

*Actual burden, which includes the trust fee of the investment target fund in addition to the trust fee of the fund. As of: End of April 2026, Source: Morningstar, Goldman Sachs Asset Management Maximum value for this fund. For the average of global equity active funds and global equity index funds, this is an aggregation of domestic public investment trusts (excluding SMA/wrap-only) that fall under Morningstar's "Global Equity (Large Cap)" and "Global Equity (Small/Mid Cap)" categories. Purchase fees and other expenses are not included. While this fund aims for returns exceeding the benchmark (index), it is expected that the expected excess return will be limited compared to typical active funds, as the management will not deviate significantly from the benchmark (index). The above is merely a comparison of trust fees; the level of expected return after deducting trust fees varies by fund. It also does not cover all similar funds. The above is past data and does not suggest or guarantee future results.

Image of Price Movement

The above is a conceptual diagram, and the size of each item does not represent the actual movement of the index, investment performance, costs, etc.

About Goldman Sachs Asset Management

Goldman Sachs Asset Management is the asset management division of Goldman Sachs Group, with approximately 526 trillion yen* in assets under contract. It provides asset management services to institutional investors, individual investors, and high-net-worth individuals worldwide.

As of: End of December 2025, Source: Goldman Sachs Asset Management, converted to yen at 1 USD = 156.745 JPY *Assets under contract (AUS) include assets under management (AUM) for discretionary investment contracts, as well as all client assets for which fees are generated, such as advisory contracts.

For more details, please visit the dedicated fund page.

▶ Details of This Fund https://am.gs.com/ja-jp/individual/products/gs-plus

▶ Homepage of Goldman Sachs Asset Management Co., Ltd.

www.gsam.co.jp

Fund Expenses and Investment Risks

Fund Expenses

The total amount of fees, etc., will vary depending on the period for which investors hold the fund, and therefore cannot be displayed. *1 Includes various expenses related to the processing of trust administration for ETFs. The actual management fees for the ETFs invested in vary by ETF. For details, please see "Main Investment Targets." (As of the end of April 2026) *2 This figure is the maximum value and will fluctuate depending on the investment status of the ETFs that are effectively invested in. The actual allocation ratio will fluctuate according to the management status, and the rate effectively borne by the beneficiary will also fluctuate. Under normal circumstances, it is expected to be below the above.

Investment Risks

Factors Affecting Net Asset Value

Investment trusts are different from deposits. This fund invests in securities, etc., with fluctuating prices, so the net asset value will fluctuate. Furthermore, losses may be incurred due to currency fluctuations. Therefore, investors' principal is not guaranteed, and the net asset value may fall, causing losses and a decline below the principal investment amount. All profits and losses generated in the trust property belong to the investors.

Main Factors of Fluctuation

Stock Investment Risk (Price Fluctuation Risk / Credit Risk)

As this fund's underlying investments are stocks worldwide, including Japan, investing in this fund involves various risks, including price fluctuation risk associated with stock investments. The net asset value of this fund may fluctuate significantly due to the price movements of underlying securities such as stocks, and the principal is not guaranteed. Generally, stock prices fluctuate according to the activities of individual companies and general market and economic conditions. Therefore, the prices of stocks included in this fund may decline in the short or long term. Even if stock prices are on an upward trend at present, there is no guarantee that this trend will continue in the future. Furthermore, if a company falls into management difficulties or bankruptcy, the invested funds may not be recovered.

Currency Fluctuation Risk

This fund's primary investment targets are effectively foreign currency-denominated stocks, etc., and in principle, currency hedging is not performed for the effectively foreign currency-denominated assets. Therefore, investing in this fund involves currency fluctuation risk. Exchange rates can fluctuate significantly in a short period. Exchange rates are generally determined by supply and demand in the foreign exchange market, differences in investment merit across countries, interest rate fluctuations, and various other international factors. Exchange rates can also fluctuate due to interventions by governments and central banks of countries and regions, currency controls, or other policies.

Risks Associated with Investment in Emerging Stock Markets

This fund's effective investment targets include stocks of emerging countries. Investing in emerging markets, compared to investing in developed markets, has the following specific points of caution regarding country risk. These include risks such as expropriation or nationalization of assets, greater social, political, and economic instability, lower liquidity due to smaller market size and trading volume, which may force sales at significantly lower prices depending on market conditions compared to periods of high liquidity, and volatile fluctuations in exchange rates and other costs required for currency exchange. There are also issues such as insufficient information about local companies due to differences in accounting standards, or generally less stringent regulations in financial product markets.

Points to Note

Points to Note Regarding Benchmark

This fund aims for investment performance that exceeds the MSCI All Country World Index (net dividends included, yen-based) over the long term, but actual investment performance may fall below the benchmark. Furthermore, when the benchmark index is in a declining phase, the net asset value of the fund generally tends to decline.

All rights, including copyright and intellectual property rights, related to the MSCI All Country World Index belong to MSCI Inc. MSCI and all other parties involved in the editing, calculation, and creation of MSCI's information (collectively referred to as "MSCI Parties") expressly disclaim any warranties regarding MSCI's information (including, but not limited to, originality, accuracy, completeness, merchantability, and fitness for a particular purpose). MSCI, its affiliates, and the MSCI Parties shall not be liable in any event for any direct, indirect, special, incidental, punitive, consequential damages (including lost profits), or any other damages. Distribution or dissemination of MSCI's information is prohibited without the express written consent of MSCI.

Points to Note Regarding Quantitative Management

In this fund, multiple strategies using Goldman Sachs Asset Management's quantitative model suite will be executed. There is no guarantee that management according to quantitative models, including the use of AI, will achieve its objectives, nor does it guarantee superiority over other management methods such as bottom-up active management or passive management. Quantitative models also utilize quantitative elements other than AI. Quantitative models are continuously improved and updated, and the methods of using AI, etc., may change in the future. Quantitative models are constructed based on hypotheses, and the stocks selected by the models and market trends may not necessarily exhibit the movements assumed by these hypotheses. Furthermore, even if a model is effective at a certain point in time, its effectiveness may not be sustained due to changes in market conditions, etc. In such cases, this may affect the net asset value of the fund, and the fund's performance may fall below the benchmark, or the principal investment may be lost.

About NISA

GS Plus All Country World Stocks (All Country) is eligible for the "Growth Investment Framework (Special Non-Taxable Management Account)" of the Small Investment Tax Exemption System (NISA), but handling may vary by sales company. For details, please contact your sales company.

GS Plus All Country World Stocks Monthly Dividend Course is not eligible for the Small Investment Tax Exemption System (NISA).

[Notes on This Material]

This material is a press release created solely for the purpose of providing information about investment trusts managed and established by Goldman Sachs Asset Management Co., Ltd. When applying to acquire the fund, please be sure to review the contents of the latest investment trust prospectus (offering document) provided by the sales company and make your own decision.

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Company Name: Goldman Sachs Asset Management Co., Ltd.

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