Exhibit 99.1

Goldman Sachs Strategic Update
Credit Suisse Financial Services Conference
David M. Solomon
Chairman and Chief Executive Officer
February 17, 2022

Clear Strategic Direction
1 2 3
Grow and Strengthen Diversify our Operate More Existing Businesses Products and Services Efficiently

Client-Oriented Strategy Delivered Record 2021 Revenues
ROE (%)
Leading Peer1
~150bps ex-litigation
Net Revenues (bn)
ROTE (%)2
15%
~400bps ex-litigation
13%
19%
10% 11%
23%
2019 2020 2021
$36.5 $44.6 $59.3 11% 12% 24%
Book Value Per Share Growth (%)
1-Year
3-Years
5-Years
10-Years
IPO
(2Q99)
GS
20% 37% 56% 118%
1,618%
Leading Peer1
8%
31%
49%
89%
407%
2

Strong Progress Against Our Goals
I N V E S T O R D A Y T A R G E T S
>13% ROE Profitability >14% ROTE
Efficiency & ~60% efficiency ratio Expenses $1.3bn efficiency plan
Capital 13-13.5% CET1 ratio
2021 P R O G R E S S
23.0% ROE
24.3% ROTE1
53.8% efficiency ratio
~$1.0bn expense efficiencies
14.2% CET1 ratio
3

Premier Client Franchise Driving Share Gains and Growth
Asset Investment Management Banking
Clients
Consumer                
& Wealth Global Management Markets
O N E G O L D M A N S A C H S
2 0 1 9 – 2 0 2 1 W A L L E T
S H A R E G R O W T H 1
+360bps +250bps
Investment Banking Global Markets
G R O W T H I N I T I A T I V E S : K E Y M E T R I C S 2
Alternatives Wealth Management
$100bn+ 475
Fundraising Corporates Covered by Ayco
Transaction Banking Consumer Banking
>90% 8
Were Existing                Partnerships and    GS Clients Referral Programs
4

1 Investment Banking and Global Markets:
Synergies Delivering Integrated Execution Solutions
Asset Investment Management Banking
Clients
Consumer                
& Wealth Global Management Markets
Multiplier Effect
Merger Advisory
Activism and Defense
Acquisition Bridge Financing
Capital Markets Takeout Financing
Secondary Market Liquidity
Derivatives
Investment Banking and Global Markets ROE 2019 – 2021 Improvement
+1,500bps
Goldman Sachs1
+800bps
Peer Average2
5

1 Investment Banking:
Robust Backlog Combined with Strategic Growth Opportunities
+ 30%+ More Clients Covered1
+ +360bps Wallet Share Gains2
+ Technology and Healthcare
+ Product Innovation
~$6bn
<$1 $2
$1
$2
2010 – 2016 Median Revenues
~$8bn $1
$2
$1
$3
~$12bn
<$1 $3
$4
$4
2017 – 2019 Median Revenues
2020 – 2021 Median Revenues
Financial Advisory Equity Underwriting Debt Underwriting Corporate Lending
F O R W A R D C A T A L Y S T S
Increasing Sponsor Capital Driving Transaction Velocity Technology Disruption Broadly across Industries
Accelerating Company Formation
Innovation in Client Solutions, Including ESG
Wallet Share Opportunity in Core Businesses
Transaction Banking
China Opportunity
6

1 Global Markets:
Solid Track Record and Strategic Growth
10-year CAGR: 8%
$5bn
$2bn
$8bn
$10bn $5bn $4bn $8bn
$5bn
Represents median, min and max 2012-2021 annual revenues
$16bn
2020 – 2021    2019 – 2021 FICC Equities Illustrative
Average    Wallet Share Intermediation Intermediation Revenues
Financing    Gains1
F O R W A R D C A T A L Y S T S
Deepen and Broaden Client Base
Grow Financing
Enhance Client Experience, Deploy Technology Platforms
Optimize Resource Consumption
7

2 Asset Management & Wealth Management:
Integrated, Client-Oriented Businesses At Scale
Asset Investment Management Banking
Clients
Consumer                
& Wealth Global Management Markets
Top 5 Global Active Asset Manager 1
(Pro Forma for NNIP)
.
~$2.8 trillion AUS
Premier Ultra High Net Worth Franchise
. 2
Total Wealth Management client assets of >$1 trillion
Top 5 Alternative Asset Manager 1
.
$426 billion total alternative assets
8

2 Asset Management & Wealth Management:
Expanding From a Leading Position at Scale
Firmwide Management & Other Fees (bn)
AUS
$1.9 $2.1 ~$2.8 (tn)
(Pro Forma for NNIP)
$7.6
$6.7
$6.1
2019 2020 2021
F O R W A R D    C A T A L Y S T S
Workplace    ï,§ Holistic financial planning
Wealth     programs for ~1.6mm employees
through Ayco
ï,§    ESG and impact strategies offered
Sustainability     across asset classes; will be
strengthened by NNIP
ï,§    Proprietary and open architecture
Portfolio    
Customization    ï,§ #1 in retail Separately Managed
Accounts1
ï,§    Third-party funds across strategies
Alternatives    ï,§ Expanding offerings across retail
channel, including RIAs
9

2 Asset Management & Wealth Management:
Targets
I N C R E A S I N G I N V E S T O R D A Y T A R G E T S
$350bn $225bn
Organic Traditional Gross Alternatives Long-Term Net Inflows1 Fundraising (2020 – 2024) (2020 – 2024)
N E W T A R G E T S
>$10bn Of> which: $2bn
Firmwide Management Alternatives Management and Other Fees in 2024 Fees in 2024
10

2 Transaction Banking:
Significant Long-Term Growth Opportunity at Scale
L A R G E D I S R U P T I V E A N D
R O E A C C R E T I V E A D D R E S S A B L E S C A L A B L E D I G I T A L
A T S C A L E M A R K E T P L A T F O R M
Market Size1
$150bn+
wallet
Revenues
$226mm ~$750mm
2021 2024 Target
Clients
~225 ~350
2020 2021
Partnerships
Deposits (bn)
>$100
Investor Day $54 target $29
2020 2021 2024 Target
11

2 Consumer:
Significant Long-Term Growth Opportunity at Scale
L A R G E D I S R U P T I V E A N D
R O E A C C R E T I V E A D D R E S S A B L E S C A L A B L E D I G I T A L
A T S C A L E M A R K E T P L A T F O R M
Market Size1
>$5tn ~$1tn
U.S. deposits U.S. loans
Revenues
$1.5bn >$4bn
2021 2024 Target
Customers
~6mm 10mm+
2020 2021
Partnerships
Deposits (bn)
Investor Day >$150 target $110
$36
2018 2021 2024 Target
Loans/Cards (bn)
Investor Day >$30 target $12 $5
2018 2021 2024 Target
12

3 Flexible Cost Structure Enables Investments, Supports Returns
Non-Compensation
Disciplined expense management
Focus on platforms and digitization
Prioritization of investment spend
Significant portion activity-related or discretionary
2 0 2 1 O P E R A T I N G
E X P E N S E S
( $ 3 1 . 9 B N )
Compensation & Benefits
Pay for performance culture with meaningful variable component
Shareholder-aligned compensation framework
2021 compensation ratio net of provisions declined ~200bps YoY
$14.2    $17.7
~60% ~$1.0bn
Efficiency Ratio Target Efficiency Savings Achieved1
13

3 Dynamic Capital Management
C A P I T A L M A N A G E M E N T P H I L O S O P H Y
Prioritize deploying capital to support client activity and grow our businesses
Continue to sustainably grow our dividend
Return excess capital in the form of buybacks
Stress Capital Buffer
6.4%
G-SIB
2.5%
Minimum
4.5%
Current Capital Requirement
Target Management Buffer:
50-100bps
K E Y F O R W A R D D R I V E R S
ï,§ Stress Capital Buffer:
Focused on reducing SCB toward ~5%
ï,§ G-SIB: 3.0% surcharge (effective 2023);
3.5% (effective 2024)
14

Driving Value for Shareholders
M E D I U M—T E R M 1 F I R M W I D E T A R G E T S
ROE ROTE Efficiency Ratio
14-16% 15-17% ~60%
2 0 2 4 B U S I N E S S T A R G E T S
A S S E T M A N A G E M E N T & T R A N S A C T I O N
C O N S U M E R W E A L T H M A N A G E M E N T B A N K I N G
2020 – 2024 2020 – 2024 Firmwide Alternatives Organic Traditional Gross Alternatives Management Management
Long-Term Net Inflows2 Fundraising & Other Fees Fees Revenues Revenues
Of which:
$350bn $225bn >$10bn >$2bn ~$750mm >$4bn

Successfully Executing Our Strategic Plan
Clients are at the center of our firm
Operating with a growth mindset
Well-positioned to execute given our unique competitive advantages
Track record of driving returns and unlocking shareholder value
16

Goldman Sachs Strategic Update
Credit Suisse Financial Services Conference
David M. Solomon
Chairman and Chief Executive Officer
February 17, 2022

Investor Day Targets and Selected KPI Progress
F I R M W I D E I N V E S T M E N T B A N K I N G G L O B A L M A R K E T S
Medium-Term1 Initiative    Progress
>13% ROE    23.0% in 2021
>14% ROTE2    24.3% in 2021
17bps
30bps improvement in    improvement in
funding spreads    funding spreads
since YE19
$174bn raised
$100bn in deposit growth    across channels
since YE19
55% deposits vs.
~50/50% deposits vs.    unsecured funding
unsecured funding    as of 4Q21
~60% efficiency ratio    53.8% in 2021
Achieved ~$1.0bn
$1.3bn efficiency plan    expense
efficiencies since
YE193
13-13.5% CET1 ratio    14.2% as of 4Q21
Initiative
#1 in M&A, #1 Equity; Top 4
Debt U/W wallet share
Expand corporate client
footprint
$50bn TxB deposits in 5+ years
from YE19
$1bn TxB revenues in 5+ years
from YE19
Progress
#1 M&A, #1 Equity U/W, #3
Debt U/W wallet share in
20214
30%+ more clients covered
as of YE21 vs. YE17
Achieved in 3Q21; $54bn
as of 4Q21
$226mm in 2021
Initiative    
ROE >10% in 3 years from YE19    
Top 3 position with top 100 clients    
Grow financing revenues    
Deploy technology platform    
$700mm efficiency plan in 3 years    
from YE19    
$2bn of capital redeployment in 3    
years from YE19
Progress
15.3% in 2021
Top 3 with 72 of the top 100
clients6
$5.9bn in 2021; +33% vs.
2019
87K Marquee MAUs as of
4Q21 (+35K since 2019)7
Achieved ~$600mm expense
efficiencies since YE193
~$1.7bn since YE19
A S S E T M A N A G E M E N T
Initiative    
$250bn Organic Firmwide    
Traditional AUS net inflows in 5    
years from YE195    
$100bn Firmwide Alternative    
AUS net inflows in 5 years from    
YE19    
($150bn Alternatives gross    
fundraising)    
$4bn capital reduction in 5    
years from YE19    
Progress
~$140bn net inflows
since YE19
~$30bn Firmwide
Alternative net inflows
($107bn Alternatives
gross fundraising)
since YE19
2021 average common
equity +$3.6bn vs.
2019 C O N S U M E R    & W E A L T H M A N A G E M E N T Initiative     Increase client facing professionals     in UHNW globally     Leverage corporate relationships     and expand HNW franchise reach     $20bn+ Consumer loan/card     balances in 5 years from YE19     $125bn+ Consumer deposits in 5     years from YE19     Progress Hired ~240 client facing professionals since YE19 (~20% net growth) Cover 475 corporates (+35 since YE19); cover 1.6mm employees vs. 1mm in 2019 $12bn as of 4Q21 $110bn as of 4Q21 18

End Notes These notes refer to the financial metrics and/or defined term presented on: Slide 2: 1. Per company filings. Peer set includes MS, JPM, BAC, C 2 Return on average common shareholders’ equity (ROE) is calculated by dividing net earnings applicable to common shareholders by average monthly common shareholders’ equity. Return on average tangible common shareholders’ equity (ROTE) is calculated by dividing net earnings applicable to common shareholders by average monthly tangible common shareholders’ equity. Tangible common shareholders’ equity is calculated as total shareholders’ equity less preferred stock, goodwill and identifiable intangible assets. Management believes that ROTE is meaningful because it measures the performance of businesses consistently, whether they were acquired or developed internally and that tangible common shareholders’ equity is meaningful because it is a measure that the firm and investors use to assess capital adequacy. ROTE and tangible common shareholders’ equity are non-GAAP measures and may not be comparable to similar non-GAAP measures used by other companies. The table below presents a reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity: Slide 3: 1. ROTE is a non-GAAP measure and may not be comparable to similar non-GAAP measures used by other companies. See end note 2 for slide 2 for further information about ROTE, including the reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity 2. Annual run-rate expense efficiencies from YE 19 - YE21 Unaudited, $ in millions Total shareholders’ equity Preferred stock Common shareholders’ equity Goodwill and identifiable intangible assets Tangible common shareholders’ equity AVERAGE FOR THE YEAR ENDED DECEMBER 31, 2019 DECEMBER 31, 2020 90,297 $ 91,779 $ (11,203) (11,203) 79,094 80,576 (4,464) (4,855) 74,630 $ 75,721 $ DECEMBER 31, 2021 101,705 (9,876) 91,829 (4,863) 86,966

End Notes
These notes refer to the financial metrics and/or defined term presented on:
Slide 4:
1. Data based on reported revenues for Advisory, Equity underwriting and Debt underwriting for Investment Banking and for FICC and Equities for Global Markets. Total wallet includes GS, MS, JPM, BAC, C, DB, UBS, CS, BARC. BARC 2021 revenues reflect consensus estimates per Visible Alpha as of February 14, 2022
2. Alternatives fundraising reflects gross commitments from YE19 – YE21
Slide 5:
1. The table below presents net earnings applicable to common shareholders, average common equity and ROE for the firm’s Investment Banking and Global Markets segments, and the reconciliation to the total of the two segments:
`    INVESTMENT GLOBAL INVESTMENT BANKING +
Unaudited, $ in millions    BANKING MARKETS GLOBAL MARKETS
YEAR ENDED DECEMBER 31, 2021    
Net earnings applicable to common shareholders    $6,705 $6,973 $13,678
Average common equity    $ 10,341 $45,497 $55,838
ROE    64.8% 15.3% 24.5%
YEAR ENDED DECEMBER 31, 2019    
Net earnings applicable to common shareholders    $1,996 $2,729 $4,725
Average common equity    $ 11,167 $40,060 $51,227
ROE    17.9% 6.8% 9.2%
The impact of net provisions for litigation and regulatory proceedings during 2021 reduced ROE for Investment Banking by 1.8 percentage points, for Global Markets by 0.4 percentage points and for the total of these two segments by 0.6 percentage points, and such provisions during 2019 reduced ROE for Investment Banking by 4.3 percentage points, for Global Markets by 1.5 percentage points and for the total of these two segments by 2.1 percentage points
2. Data based on reported ROEs. Peers include MS (Institutional Securities segment), JPM (Corporate & Investment Bank segment), BAC (Global Banking and Global Markets segments)
20

End Notes
These notes refer to the financial metrics and/or defined term presented on:
Slide 6:
1. Represents increase in Investment Banking covered clients from 2017 – 2021
2. Wallet share gains 2019 – 2021. See end note 1 for slide 4 for further information
Slide 7:
1. 2021 wallet share vs. 2019 wallet share, excluding growth in financing. Data based on reported FICC and Equities revenues. Total wallet includes GS, MS, JPM, BAC, C, DB, UBS, CS, BARC. BARC 2021 revenues reflect consensus estimates per Visible Alpha as of February 14, 2022
Slide 8:
1. Data as of 4Q21. Peer data compiled from publically available company filings, earnings releases and supplements, and websites, as well as eVestment databases and Morningstar Direct. Peer population represents key competitors tracked internally. GS total alternative assets at year-end 2021 includes $236 billion alternative AUS and $190 billion non-fee-earning alternative assets
2. Total Wealth Management client assets includes AUS and brokerage assets
Slide 9:
1. Source: Cerulli Associates; Largest Separate Account Consultant Program rankings as of 3Q21 total assets
Slide 10:
1. Traditional AUS represents fixed income and equity assets
Slide 11:
1. Data per McKinsey. Wallet includes U.S., UK, Japan, Germany, Italy, France, Spain, Netherlands, and Ireland
Slide 12:
1. U.S. retail deposits per FDIC call reports as of 4Q21; U.S. unsecured loans data per McKinsey
21

End Notes
These notes refer to the financial metrics and/or defined term presented on:
Slide 13:
1. Annual run-rate expense efficiencies from YE19 – YE21
Slide 15:
1. Medium-term refers to approximately 3 year time horizon
2. Traditional AUS represents fixed income and equity assets
Slide 18:
1. Medium-term refers to approximately 3 year time horizon
2. ROTE is a non-GAAP measure and may not be comparable to similar non-GAAP measures used by other companies. See end note 2 for slide 2 for further information about ROTE, including the reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
3. Annual run-rate expense efficiencies
4. M&A and Equity: per Dealogic; Debt U/W: data based on reported revenues. Total wallet includes GS, MS, JPM, BAC, C, UBS, CS, BARC. BARC 2021 revenues reflected consensus estimates per Visible Alpha as of February 14, 2022
5. Traditional AUS represents fixed income and equity assets
6. Sources: Top 100 client list and rankings compiled by GS through Client Ranking / Scorecard / Feedback and / or Coalition Greenwich 1H21 Institutional Client Analytics ranking
7. Unique monthly average users within the prior 30 days, as of December 2021 vs. December 2019
22

Cautionary Note on Forward-Looking Statements
Statements about the firm’s target metrics, including its target ROE, ROTE, efficiency ratio and CET1 capital ratios, and how they can be achieved, and statements about future operating expense (including future litigation expense), efficiency ratio targets and expense savings initiatives, the impact of the COVID-19 pandemic on its business, results, financial position and liquidity, fundraising initiatives and amount and composition of future Assets under Supervision and related revenues, anticipated asset sales, increases in wallet share, planned debt issuances, growth of deposits and other funding, asset liability management and funding strategies and associated interest expense savings, future geographic location of its employees, and the timing and profitability of its business initiatives, including the prospects of new businesses (including Transaction Banking and credit card partnerships) or new activities, its ability to increase its market share in incumbent businesses and its ability to achieve more durable revenues and higher returns from these initiatives, are forward- looking statements, and it is possible that the firm’s actual results may differ, possibly materially, from the targeted results indicated in these statements.
Forward looking statements, including those about the firm’s target ROE, ROTE, efficiency ratio, and expense savings, and how they can be achieved, are based on the firm’s current expectations regarding its business prospects and are subject to the risk that the firm may be unable to achieve its targets due to, among other things, changes in the firm’s business mix, lower profitability of new business initiatives, increases in technology and other costs to launch and bring new business initiatives to scale, and increases in liquidity requirements. Statements about the firm’s target ROE, ROTE and CET1 capital ratios, and how they can be achieved, are based on the firm’s current expectations regarding the capital requirements applicable to the firm and are subject to the risk that the firm’s actual capital requirements may be higher than currently anticipated because of, among other factors, changes in the regulatory capital requirements applicable to the firm resulting from changes in regulations or the interpretation or application of existing regulations or changes in the nature and composition of the firm’s activities or its expectations around the sale of assets. Statements about our AUS inflows targets and related revenues and capital reductions are based on our current expectations regarding our fundraising prospects and ability to sell assets and are subject to the risk that actual inflows and revenues and asset sales may be lower than expected due to, among other factors, competition from other asset managers, changes in investment preferences and changes in economic or market conditions. Statements about the projected growth of the firm’s deposits and other funding, asset liability management and funding strategies and associated interest expense savings are subject to the risk that actual growth and savings may differ, possibly materially from that currently anticipated due to, among other things, changes in interest rates and competition from similar products. Statements about the timing, profitability, benefits and other prospective aspects of business and expense savings initiatives, the achievability of medium and long-term targets, the level and composition of more durable revenues and increases in market share are based on the firm’s current expectations regarding its ability to implement these initiatives and achieve these targets and goals and may change, possibly materially, from what is currently expected. Statements about the effects of the COVID-19 pandemic on the firm’s business, results, financial position and liquidity are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Due to the inherent uncertainty in these forward-looking statements, investors should not place undue reliance on the firm’s ability to achieve these results.
Statements about the firm’s pending acquisitions of NN Investment Partners and GreenSky are subject to the risks that the transactions may not close on the timelines contemplated or at all, including due to a failure to obtain requisite regulatory approval, and that the firm may be unable to fully realize the expected benefits or synergies from the acquisitions in the time frames expected or at all.
For information about some of the risks and important factors that could affect the firm’s future results, financial condition and liquidity and the forward-looking statements above, see “Risk
Factors” in Part I, Item 1A of the firm’s Annual Report on Form 10-K for the year ended December 31, 2020. You should also read the cautionary notes on forward-looking statements in the firm’s Quarterly Report on Form 10-Q for the period ended September 30, 2021 and Earnings Results Presentation for the Full Year and Fourth Quarter 2021.
The statements in the presentation are current only as of February 17, 2022 and the firm does not undertake to update forward-looking statements to reflect the impact of subsequent events or circumstances.
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