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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
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        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
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          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Goldman Sachs Asset Management, L.P.</investmentAdviserName>
            <investmentAdviserFileNo>801-37591</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107738</investmentAdviserCrdNo>
            <investmentAdviserLei>CF5M58QA35CFPUX70H17</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Goldman Sachs &amp; Co. LLC (Chicago, IL, US, Branch)</transferAgentName>
            <transferAgentFileNo>084-01100</transferAgentFileNo>
            <transferAgentLei>FOR8UP27PHTHYVLBNG30</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-IL" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Ice Data Pricing &amp; Reference Data, Llc</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Thomson Reuters Corporation</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Deutsche Bank Aktiengesellschaft (London, GB, Branch)</custodianName>
            <custodianLei>7LTWFZYICNSX8D621K86</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Bank of New York Mellon</custodianName>
            <custodianLei>HPFHU0OQ28E4N0NFVK49</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear Bank</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Goldman Sachs &amp; Co. LLC (Chicago, IL, US, Branch)</shareholderServiceAgentName>
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            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-IL" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Goldman Sachs Asset Management, L.P.</adminName>
            <adminLei>CF5M58QA35CFPUX70H17</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>SBI Japannext Co., Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
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            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Goldman Sachs (Asia) L.L.C. (Jongno-gu, Seoul, KR, Branch)</brokerDealerName>
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            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerCountry>KR</brokerDealerCountry>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Goldman Sachs Bank Europe SE</brokerDealerName>
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            <brokerDealerCountry>DE</brokerDealerCountry>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Goldman Sachs Futures (Asia) Limited</brokerDealerName>
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            <brokerDealerLei>549300TXF423EC6A0B36</brokerDealerLei>
            <brokerDealerCountry>HK</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Chxbd, LLC</brokerDealerName>
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            <brokerDealerLei>0004517793</brokerDealerLei>
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            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Chi-X Global Holdings LLC</brokerDealerName>
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            <brokerDealerLei>0004357896</brokerDealerLei>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Goldman Sachs Execution &amp; Clearing, L.P.</brokerDealerName>
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            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Goldman Sachs (Russia)</brokerDealerName>
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            <brokerDealerCountry>GB</brokerDealerCountry>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Goldman Sachs Mexico Casa de Bolsa, S.A. de C.V.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>J Aron &amp; Company LLC</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs do Brasil Corretora de Titulos e Valores Mobiliarios S/A</brokerDealerName>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Simon Markets LLC</brokerDealerName>
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            <brokerDealerLei>254900ZQ96RPN3NLEP45</brokerDealerLei>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BIDS Trading L.P.</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs Australia (UK) Limited</brokerDealerName>
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            <brokerDealerLei>00000000000000000000</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs (India) Securities Private Limited</brokerDealerName>
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            <brokerDealerCountry>IN</brokerDealerCountry>
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          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Goldman Sachs Australia Capital Markets Limited</brokerDealerName>
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            <brokerDealerLei>FGGD2R1VDFRPRIX22S49</brokerDealerLei>
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          <brokerDealer>
            <brokerDealerName>CHX Holdings, Inc.</brokerDealerName>
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            <brokerDealerLei>00000000000000000000</brokerDealerLei>
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          <brokerDealer>
            <brokerDealerName>Fifth Third Bank</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs do Brasil Banco Multiplo S.A</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs (India) Capital Markets Private Limited</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>REDI Global Technologies LLC</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>KeyBank National Association</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Bids Holdings GP LLC</brokerDealerName>
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            <brokerDealerLei>00000000000000000000</brokerDealerLei>
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          <brokerDealer>
            <brokerDealerName>Qian Kun Futures Co., Ltd.</brokerDealerName>
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          <brokerDealer>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs Global Tactical Asset Allocation Funds</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Development Securities Limited</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Chartres Trading Pty Ltd</brokerDealerName>
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            <brokerDealerName>Equilend LLC</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs Financial Markets Pty Ltd</brokerDealerName>
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            <brokerDealerName>Goldman Sachs Bank AG</brokerDealerName>
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          <brokerDealer>
            <brokerDealerName>Goldman Sachs Asset Management International</brokerDealerName>
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          <principalTransaction>
            <principalName>HSBC Securities (USA) Inc.</principalName>
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            <lineOfCreditDetail>
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                <lineOfCreditInstitution creditInstitutionName="Barclays Bank PLC"/>
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                <lineOfCreditInstitution creditInstitutionName="Citibank N.A."/>
                <lineOfCreditInstitution creditInstitutionName="Societe Generale"/>
                <lineOfCreditInstitution creditInstitutionName="Credit Suisse AG, New York Branch"/>
                <lineOfCreditInstitution creditInstitutionName="The Bank of Nova Scotia, Houston Branch"/>
                <lineOfCreditInstitution creditInstitutionName="Wells Fargo Bank, N.A."/>
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                <creditUser fundName="Goldman Sachs Variable Insurance Trust" secFileNo="811-08361"/>
                <creditUser fundName="Goldman Sachs Trust II" secFileNo="811-22781"/>
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        <isInterfundBorrowing>N</isInterfundBorrowing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Goldman Sachs Capital Growth Fund</mgmtInvFundName>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 10f-3 (17 CFR 270.10f-3)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
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