Goldman Sachs : 2018 Full Year and Fourth Quarter Results Presentation

Earnings Call Agenda

• 1 David M. Solomon, Chairman and Chief Executive Officer

  •  Strategic priorities

  •  Macro perspectives and client engagement

  •  Update on 1MDB

• 2 Stephen M. Scherr, Chief Financial Officer

  •  Key financial highlights

  •  Segment performance review

  •  Expenses and taxes

  •  Capital, balance sheet and liquidity

• 3 Q&A

Strategic Overview

Key Priorities

Updates on Select Business Reviews

Market Making: FICC and Equities

•  Leverage technology to create best-in-class client experience across more products

•  Expand addressable market while optimizing expenses and capital allocation

  Alternative Investing Platform

•  Opportunities to increase 3rd party assets under supervision

•  Continue monetization of on-balance sheet investments

•  Increase fee-based revenues and optimize capital consumption

  Cash Management

•  Deepen corporate relationships

•  Leverage franchise adjacencies and innovation

•  Potential for FX opportunities

  Consumer Business

•  Continue to evolve Marcus to multi-product platform

•  Launch multi-tiered mass affluent strategy

Macro Perspectives

Client Engagement Opportunities

Shifting macro environment creates opportunity for productive engagement with clients

Annual Results Snapshot

2018 $25.27  Record diluted EPS