Amended Annex A dated September 17, 2025

EX-99.(D)(8)

AMENDED ANNEX A

The compensation payable under Paragraph 5 of the Management Agreement between Goldman Sachs Trust and each of the undersigned shall be as follows:

Goldman Sachs Asset Management, L.P.


Fund		Annual Rate

Goldman Sachs Financial Square Treasury Obligations Fund¹		0.18%

Goldman Sachs Financial Square Treasury Instruments Fund²		0.18%

Goldman Sachs Financial Square Government Fund³		0.16%

Goldman Sachs Financial Square Treasury Solutions Fund⁴		0.18%

Goldman Sachs Investor Tax-Exempt Money Market Fund⁵		0.16%

Goldman Sachs Financial Square Federal Instruments Fund⁶		0.18%

Goldman Sachs Investor Money Market Fund⁷		0.16%

Goldman Sachs Investor Tax-Exempt California Money Market Fund⁶⁹		0.16%

Goldman Sachs Investor Tax-Exempt New York Money Market Fund⁷⁰		0.16%

Stablecoin Reserves Fund⁷¹		0.18%

Goldman Sachs Government Income Fund⁸		0.53% on first $1 billion 0.48% over $1 billion up to $2 billion 0.45% over $2 billion up to $5 billion 0.44% over $5 billion up to $8 billion 0.44% over $8 billion

Goldman Sachs Dynamic Municipal Income Fund⁹		0.40% on first $1 billion 0.36% over $1 billion up to $2 billion 0.34% over $2 billion up to $5 billion 0.34% over $5 billion up to $8 billion 0.33% over $8 billion

Goldman Sachs High Yield Fund		0.70% on first $2 billion 0.63% over $2 billion up to $5 billion 0.60% over $5 billion up to $8 billion 0.59% over $8 billion

Goldman Sachs Income Builder Fund¹⁰		0.54% on first $1 billion 0.49% over $1 billion up to $2 billion 0.46% over $2 billion up to $5 billion 0.45% over $5 billion up to $8 billion 0.44% over $8 billion

Goldman Sachs Equity Income Fund¹¹		0.69% on first $1 billion 0.62% over $1 billion up to $2 billion 0.59% over $2 billion up to $5 billion 0.58% over $5 billion up to $8 billion 0.57% over $8 billion


Fund		Annual Rate

Goldman Sachs Mid Cap Value Fund		0.75% on first $2 billion 0.68% over $2 billion up to $5 billion 0.65% over $5 billion up to $8 billion 0.64% over $8 billion

Goldman Sachs Small Cap Value Fund¹²		0.98% on first $2 billion 0.88% over $2 billion up to $5 billion 0.84% over $5 billion up to $8 billion 0.82% over $8 billion

Goldman Sachs Large Cap Equity Fund¹³		0.71% on first $1 billion 0.64% over $1 billion up to $2 billion 0.61% over $2 billion

Goldman Sachs U.S. Equity Insights Fund¹⁴		0.52% on first $1 billion 0.47% over $1 billion up to $2 billion 0.44% over $2 billion up to $5 billion 0.44% over $5 billion up to $8 billion 0.43% over $8 billion

Goldman Sachs Large Cap Growth Insights Fund¹⁵		0.52% on first $1 billion 0.47% over $1 billion up to $2 billion 0.44% over $2 billion up to $5 billion 0.44% over $5 billion up to $8 billion 0.43% over $8 billion

Goldman Sachs Small Cap Equity Insights Fund¹⁶		0.80% on first $2 billion 0.72% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion

Goldman Sachs International Equity Insights Fund¹⁷		0.81% on first $1 billion 0.73% over $1 billion up to $2 billion 0.69% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion

Goldman Sachs Real Estate Securities Fund¹⁸		0.87% on first $1 billion 0.78% over $1 billion up to $2 billion 0.74% over $2 billion up to $5 billion 0.73% over $5 billion up to $8 billion 0.71% over $8 billion

Goldman Sachs Large Cap Value Insights Fund¹⁹		0.52% on first $1 billion 0.47% over $1 billion up to $2 billion 0.44% over $2 billion up to $5 billion 0.44% over $5 billion up to $8 billion 0.43% over $8 billion

Goldman Sachs Strategic Growth Fund²⁰		0.71% on first $1 billion 0.64% over $1 billion up to $2 billion 0.61% over $2 billion up to $5 billion 0.59% over $5 billion up to $8 billion 0.58% over $8 billion

Goldman Sachs Mid Cap Growth Fund²¹		0.92% on first $2 billion 0.83% over $2 billion up to $5 billion 0.79% over $5 billion up to $8 billion 0.77% over $8 billion


Fund		Annual Rate

Goldman Sachs Technology Opportunities Fund²²		0.94% on first $1 billion 0.85% over $1 billion up to $2 billion 0.80% over $2 billion up to $5 billion 0.79% over $5 billion up to $8 billion 0.77% over $8 billion

Goldman Sachs Large Cap Value Fund²³		0.75% on first $1 billion 0.68% over $1 billion up to $2 billion 0.65% over $2 billion up to $5 billion 0.64% over $5 billion up to $8 billion 0.63% over $8 billion

Goldman Sachs High Yield Municipal Fund²⁴		0.55% on first $2 billion 0.50% over $2 billion up to $5 billion 0.48% over $5 billion up to $8 billion 0.47% over $8 billion

Goldman Sachs U.S. Tax-Managed Equity Fund²⁵		0.70% on first $1 billion 0.63% over $1 billion up to $2 billion 0.60% over $2 billion up to $5 billion 0.59% over $5 billion up to $8 billion 0.58% over $8 billion

Goldman Sachs Enhanced Income Fund²⁶		0.25% on first $1 billion 0.23% over $1 billion up to $2 billion 0.22% over $2 billion up to $5 billion 0.22% over $5 billion up to $8 billion 0.22% over $8 billion

Goldman Sachs Emerging Markets Debt Fund²⁷		0.80% on first $2 billion 0.72% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion

Goldman Sachs U.S. Mortgages Fund²⁸		0.34% on first $1 billion 0.31% over $1 billion up to $2 billion 0.29% over $2 billion up to $5 billion 0.28% over $5 billion up to $8 billion 0.28% over $8 billion

Goldman Sachs Investment Grade Credit Fund²⁹		0.34% on first $1 billion 0.31% over $1 billion up to $2 billion 0.29% over $2 billion up to $5 billion 0.28% over $5 billion up to $8 billion 0.28% over $8 billion

Goldman Sachs Small/Mid Cap Growth Fund³⁰		0.85% on the first $2 billion 0.77% over $2 billion up to $5 billion 0.73% over $5 billion up to $8 billion 0.71% over $8 billion

Goldman Sachs U.S. Equity Dividend and Premium Fund³¹		0.75% on first $1 billion 0.68% over $1 billion up to $2 billion 0.65% over $2 billion up to $5 billion 0.64% over $5 billion up to $8 billion 0.63% over $8 billion


Fund		Annual Rate

Goldman Sachs Bond Fund³²		0.41% on first $1 billion 0.37% over $1 billion up to $2 billion 0.35% over $2 billion up to $5 billion 0.34% over $5 billion up to $8 billion 0.34% over $8 billion

Goldman Sachs Small Cap Value Insights Fund³³		0.80% on first $2 billion 0.72% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion

Goldman Sachs Small Cap Growth Insights Fund³⁴		0.80% on first $2 billion 0.72% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion

Goldman Sachs Commodity Strategy Fund³⁵		0.50% up to $2 billion 0.45% over $2 billion up to $5 billion 0.43% over $5 billion up to $8 billion 0.42% over $8 billion

Goldman Sachs Emerging Markets Equity Insights Fund³⁶		1.00% on first $2 billion 0.90% over $2 billion up to $5 billion 0.86% over $5 billion up to $8 billion 0.84% over $8 billion

Goldman Sachs International Small Cap Insights Fund³⁷		0.85% on first $2 billion 0.77% over $2 billion up to $5 billion 0.73% over $5 billion up to $8 billion 0.72% over $8 billion

Goldman Sachs International Tax-Managed Equity Fund³⁸		0.85% on first $1 billion 0.77% over $1 billion up to $2 billion 0.73% over $2 billion up to $5 billion 0.72% over $5 billion up to $8 billion 0.71% over $8 billion

Goldman Sachs International Equity Dividend and Premium Fund³⁹		0.81% on first $1 billion 0.73% over $1 billion up to $2 billion 0.69% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion

Goldman Sachs Inflation Protected Securities Fund⁴⁰		0.26% on first $1 billion 0.23% over $1 billion up to $2 billion 0.22% over $2 billion up to $5 billion 0.22% over $5 billion up to $8 billion 0.21% over $8 billion

Goldman Sachs Absolute Return Tracker Fund⁴¹		0.70% on first $1 billion 0.63% over $1 billion up to $2 billion 0.60% over $2 billion up to $5 billion 0.59% over $5 billion up to $8 billion 0.53% over $8 billion

Goldman Sachs Emerging Markets Credit Fund⁴²		0.80% on first $2 billion 0.72% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion


Fund		Annual Rate

Goldman Sachs Enhanced U.S. Equity Fund⁴³		0.55% on first $1 billion 0.50% over $1 billion up to $2 billion 0.47% over $2 billion up to $5 billion 0.46% over $5 billion up to $8 billion 0.45% over $8 billion

Goldman Sachs Dynamic Bond Fund⁴⁴		0.60% on first $1 billion 0.54% over $1 billion up to $2 billion 0.51% over $2 billion up to $5 billion 0.50% over $5 billion up to $8 billion 0.49% over $8 billion

Goldman Sachs High Yield Floating Rate Fund⁴⁵		0.60% on first $1 billion 0.54% over $1 billion up to $2 billion 0.51% over $2 billion up to $5 billion 0.50% over $5 billion up to $8 billion 0.49% over $8 billion

Goldman Sachs Managed Futures Strategy Fund⁴⁶		1.00% on first $1 billion 0.90% over $1 billion up to $2 billion 0.86% over $2 billion up to $5 billion 0.84% over $5 billion up to $8 billion 0.82% over $8 billion

Goldman Sachs Rising Dividend Growth Fund⁴⁷		0.75% on first $1 billion 0.68% over $1 billion up to $2 billion 0.64% over $2 billion up to $5 billion 0.63% over $5 billion up to $8 billion 0.62% over $8 billion

Goldman Sachs Short Duration Bond Fund⁴⁸		0.40% on first $1 billion 0.36% over $1 billion up to $2 billion 0.34% over $2 billion up to $5 billion 0.33% over $5 billion up to $8 billion 0.32% over $8 billion

Goldman Sachs MLP Energy Infrastructure Fund⁴⁹		1.00% on first $1 billion 0.90% over $1 billion up to $2 billion 0.86% over $2 billion up to $5 billion 0.84% over $5 billion up to $8 billion 0.82% over $8 billion

Goldman Sachs Short Duration High Yield Fund⁵⁰		0.55% on first $1 billion 0.50% over $1 billion up to $2 billion 0.47% over $2 billion up to $5 billion 0.46% over $5 billion up to $8 billion 0.45% over $8 billion

Goldman Sachs Short-Term Conservative Income Fund⁵¹		0.25%

Goldman Sachs Small/Mid Cap Equity Fund⁵²		0.80% on first $2 billion 0.72% over $2 billion up to $5 billion 0.68% over $5 billion up to $8 billion 0.67% over $8 billion

Goldman Sachs Tactical Tilt Overlay Fund⁵³		0.75% on first $2 billion 0.68% over $2 billion up to $5 billion 0.64% over $5 billion up to $8 billion 0.62% over $8 billion


Fund		Annual Rate

Goldman Sachs Global Managed Beta Fund⁵⁴		0.30%

Goldman Sachs Focused Value Fund⁵⁵		0.69% on first $1 billion 0.62% over $1 billion up to $2 billion 0.59% over $2 billion up to $5 billion 0.58% over $5 billion up to $8 billion 0.57% over $8 billion

Goldman Sachs Global Infrastructure Fund⁵⁶		0.90% on first $1 billion 0.81% over $1 billion up to $2 billion 0.77% over $2 billion up to $5 billion 0.75% over $5 billion up to $8 billion 0.74% over $8 billion

Goldman Sachs Strategic Factor Allocation Fund⁵⁷		0.75% on first $2 billion 0.68% over $2 billion up to $5 billion 0.64% over $5 billion up to $8 billion 0.62% over $8 billion

Goldman Sachs Energy Infrastructure Fund⁵⁸		1.00% on first $1 billion 0.90% over $1 billion up to $2 billion 0.86% over $2 billion up to $5 billion 0.84% over $5 billion up to $8 billion 0.82% over $8 billion

Goldman Sachs ESG Emerging Markets Equity Fund⁵⁹		0.98% on first $2 billion 0.88% over $2 billion up to $5 billion 0.84% over $5 billion up to $8 billion 0.82% over $8 billion

Goldman Sachs Small Cap Growth Fund⁶⁰		0.85% on first $2 billion 0.77% over $2 billion up to $5 billion 0.73% over $5 billion up to $8 billion 0.71% over $8 billion

Goldman Sachs Municipal Income Completion Fund⁶¹		0.00%

Goldman Sachs Income Fund⁶²		0.55% on first $1 billion 0.50% over $1 billion up to $2 billion 0.47% over $2 billion up to $5 billion 0.46% over $5 billion up to $8 billion 0.45% over $8 billion

Goldman Sachs Clean Energy Income Fund⁶³		0.80% on first $1 billion 0.72% over $1 billion up to $2 billion 0.68% over $2 billion up to $5 billion 0.67% over $5 billion up to $8 billion 0.66% over $8 billion

Goldman Sachs Strategic Volatility Premium Fund⁶⁷		0.50% on first $2 billion 0.45% over $2 billion up to $5 billion 0.43% over $5 billion up to $8 billion 0.42% over $8 billion


Fund		Annual Rate

Goldman Sachs Emerging Markets Equity ex. China Fund⁶⁸		0.90% on first $2 billion 0.81% over $2 billion up to $5 billion 0.77% over $5 billion up to $8 billion 0.75% over $8 billion

Goldman Sachs Asset Management International

Goldman Sachs Global Core Fixed Income Fund		0.65% on first $1 billion 0.59% over $1 billion up to $2 billion 0.56% over $2 billion up to $5 billion 0.55% over $5 billion up to $8 billion 0.54% over $8 billion

Goldman Sachs International Equity ESG Fund*^,64		0.85% on first $1 billion 0.77% over $1 billion up to $2 billion 0.73% over $2 billion up to $5 billion 0.71% over $5 billion up to $8 billion 0.70% over $8 billion

Goldman Sachs Emerging Markets Equity Fund*^,65		1.02% on first $2 billion 0.92% over $2 billion up to $5 billion 0.87% over $5 billion up to $8 billion 0.85% over $8 billion

Goldman Sachs China Equity Fund*		1.00% on first $1 billion 0.90% over $1 billion up to $2 billion 0.86% over $2 billion up to $5 billion 0.84% over $5 billion up to $8 billion 0.82% over $8 billion

Goldman Sachs International Equity Income Fund*^,66		0.80% on first $1 billion 0.72% over $1 billion up to $2 billion 0.68% over $2 billion up to $5 billion 0.67% over $5 billion up to $8 billion 0.66% over $8 billion

PURSUANT TO AN EXEMPTION FROM THE COMMODITIES FUTURES TRADING COMMISSION (“CFTC”) IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE CLIENTS, THIS ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN FILED WITH THE CFTC. THE CFTC DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OR COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE CFTC HAS NOT REVIEWED OR APPROVED THE TRADING PROGRAM ADOPTED HEREUNDER OR ANY BROCHURE OR ACCOUNT DOCUMENT.


Dated: September 17, 2025	GOLDMAN SACHS TRUST

	By:	/s/James A. McNamara
	Name:	James A. McNamara
	Title:	President


GOLDMAN SACHS ASSET MANAGEMENT, L.P.		GOLDMAN SACHS ASSET MANAGEMENT INTERNATIONAL

By:	/s/Joseph F. DiMaria	By:	/s/Karl Wianecki
Name:	Joseph F. DiMaria	Name:	Karl Wianecki
Title:	Managing Director	Title:	Managing Director

*	Goldman Sachs Asset Management, L.P. has assumed all rights and obligations of Goldman Sachs Asset Management International under the Management Agreement with respect to the Fund.

¹	This Management Agreement on behalf of the Financial Square Treasury Obligations Fund was amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.

²	This Management Agreement on behalf of the Financial Square Treasury Instruments Fund was amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.

³	This Management Agreement on behalf of the Financial Square Government Fund was amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.

⁴	This Management Agreement on behalf of the Financial Square Treasury Solutions Fund was amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.

⁵	This Management Agreement on behalf of the Investor Tax-Exempt Money Market Fund was amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.

⁶	This Management Agreement was approved on behalf of the Financial Square Federal Instruments Fund at the August 13, 2015 Goldman Sachs Trust Board Meeting and amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.

⁷	This Management Agreement was approved on behalf of the Investor Money Market Fund at the December 17, 2015 Goldman Sachs Trust Board Meeting and amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.

⁸	This Management Agreement on behalf of the Government Income Fund was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁹	This Management Agreement on behalf of the Dynamic Municipal Income Fund was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹⁰	This Management Agreement on behalf of the Income Builder Fund was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹¹	This Management Agreement on behalf of the Equity Income Fund (formerly, Growth and Income Fund) was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹²	This Management Agreement on behalf of the Small Cap Value Fund was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹³	This Management Agreement on behalf of the Large Cap Equity Fund (formerly, Large Cap Core Fund and Capital Growth Fund) was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹⁴	This Management Agreement on behalf of the U.S. Equity Insights Fund was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹⁵	This Management Agreement on behalf of the Large Cap Growth Insights Fund was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹⁶	This Management Agreement was approved on behalf of the Small Cap Equity Insights Fund (formerly, CORE Small Cap Equity Fund and Structured Small Cap Equity Fund) at the July 21, 1997 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹⁷	This Management Agreement was approved on behalf of the International Equity Insights Fund (formerly, CORE International Equity Fund and Structured International Equity Fund) at the July 21, 1997 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹⁸	This Management Agreement was approved on behalf of the Real Estate Securities Fund at the July 21, 1997 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

¹⁹	This Management Agreement was approved on behalf of the Large Cap Value Insights Fund (formerly, CORE Large Cap Value Fund and Structured Large Cap Value Fund) at the November 3, 1998 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

²⁰	This Management Agreement was approved on behalf of the Strategic Growth Fund at the April 28, 1999 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

²¹	This Management Agreement was approved on behalf of the Mid Cap Growth Fund (formerly, Growth Opportunities Fund) at the April 28, 1999 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

²²	This Management Agreement was approved on behalf of the Technology Opportunities Fund (formerly, Technology Tollkeeper Fund) at the July 27, 1999 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

²³	This Management Agreement was approved on behalf of the Large Cap Value Fund at the October 26, 1999 Goldman Sachs Trust Board Meeting.

²⁴	This Management Agreement was approved on behalf of the High Yield Municipal Fund at the February 3, 2000 Goldman Sachs Trust Board Meeting.

²⁵	This Management Agreement was approved on behalf of the U.S. Tax-Managed Equity Fund (formerly, Structured Tax-Managed Equity Fund and CORE Tax-Managed Equity Fund) at the February 3, 2000 Goldman Sachs Trust Board Meeting.

²⁶	This Management Agreement was approved on behalf of the Enhanced Income Fund at the April 26, 2000 Goldman Sachs Trust Board Meeting.

²⁷	This Management Agreement was approved on behalf of the Emerging Markets Debt Fund at the July 31, 2003 Goldman Sachs Trust Board Meeting.

²⁸	This Management Agreement was approved on behalf of the U.S. Mortgages Fund at the October 30, 2003 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

²⁹	This Management Agreement was approved on behalf of the Investment Grade Credit Fund at the October 30, 2003 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

³⁰	This Management Agreement was approved on behalf of the Small/Mid Cap Growth Fund at the May 12, 2005 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

³¹	This Management Agreement was approved on behalf of the U.S. Equity Dividend and Premium Fund at the June 16, 2005 Goldman Sachs Trust Board Meeting.

³²	This Management Agreement was approved on behalf of the Bond Fund (formerly, Core Plus Fixed Income Fund) at the August 10, 2006 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

³³	This Management Agreement was approved on behalf of the Small Cap Value Insights Fund (formerly, Structured Small Cap Value Fund) at the November 9, 2006 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

³⁴	This Management Agreement was approved on behalf of the Small Cap Growth Insights Fund (formerly, Structured Small Cap Growth Fund) at the November 9, 2006 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

³⁵	This Management Agreement was approved on behalf of the Commodity Strategy Fund (formerly, Commodity Exposure Fund) at the December 14, 2006 Goldman Sachs Trust Board Meeting.

³⁶	This Management Agreement was approved on behalf of the Emerging Markets Equity Insights Fund (formerly, Structured Emerging Markets Equity Fund) at the May 10, 2007 Goldman Sachs Trust Board Meeting.

³⁷	This Management Agreement was approved on behalf of the International Small Cap Insights Fund (formerly, Structured International Small Cap Fund) at the May 10, 2007 Goldman Sachs Trust Board Meeting.

³⁸	This Management Agreement was approved on behalf of the International Tax-Managed Equity Fund (formerly, Structured International Tax-Managed Equity Fund) at the May 10, 2007 Goldman Sachs Trust Board Meeting.

³⁹	This Management Agreement was approved on behalf of the International Equity Dividend and Premium Fund at the May 10, 2007 Goldman Sachs Trust Board Meeting.

⁴⁰	This Management Agreement was approved on behalf of the Inflation Protected Securities Fund at the June 14, 2007 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁴¹	This Management Agreement was approved on behalf of the Absolute Return Tracker Fund at the November 8, 2007 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁴²	This Management Agreement was approved on behalf of the Emerging Markets Credit Fund (formerly, Local Emerging Markets Debt Fund) at the December 13, 2007 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁴³

This Management Agreement was approved on behalf of the Enhanced U.S. Equity Fund (formerly, Enhanced Core Equity Fund, Flexible Cap Fund, Flexible Cap Growth Fund and All Cap Growth Fund) at the December 13, 2007 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁴⁴	This Management Agreement was approved on behalf of the Dynamic Bond Fund (formerly, Strategic Income Fund) at the June 17, 2010 Goldman Sachs Trust Board Meeting.

⁴⁵	This Management Agreement was approved on behalf of the High Yield Floating Rate Fund at the February 10, 2011 Goldman Sachs Trust Board Meeting.

⁴⁶	This Management Agreement was approved on behalf of the Managed Futures Strategy Fund at the October 20, 2011 Goldman Sachs Trust Board Meeting.

⁴⁷	This Management Agreement was approved on behalf of the Rising Dividend Growth Fund at the October 20, 2011 Goldman Sachs Trust Board Meeting.

⁴⁸	This Management Agreement was approved on behalf of the Short Duration Bond Fund (formerly, Short Duration Income Fund) at the February 16, 2012 Goldman Sachs Trust Board Meeting.

⁴⁹	This Management Agreement was approved on behalf of the MLP Energy Infrastructure Fund at the February 12, 2013 Goldman Sachs Trust Board Meeting.

⁵⁰	This Management Agreement was approved on behalf of the Short Duration High Yield Fund (formerly, Long Short Credit Strategies Fund) at the October 17, 2013 Goldman Sachs Trust Board Meeting and amended at the February 14, 2024 Goldman Sachs Trust Board Meeting.

⁵¹	This Management Agreement was approved on behalf of the Short-Term Conservative Income Fund (formerly, Limited Maturity Obligations Fund) at the December 19, 2013 Goldman Sachs Trust Board Meeting.

⁵²	This Management Agreement was approved on behalf of the Small/Mid Cap Equity Fund (formerly, Small/Mid Cap Value Fund) at the December 19, 2013 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁵³	This Management Agreement was approved on behalf of the Tactical Tilt Overlay Fund (formerly, Tactical Tilt Implementation Fund) at the June 12, 2014 Goldman Sachs Trust Board Meeting.

⁵⁴	This Management Agreement was approved on behalf of the Global Managed Beta Fund at the December 17, 2014 Goldman Sachs Trust Board Meeting.

⁵⁵	This Management Agreement was approved on behalf of the Focused Value Fund at the June 11, 2015 Goldman Sachs Trust Board Meeting and amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁵⁶	This Management Agreement was approved on behalf of the Global Infrastructure Fund at the August 13, 2015 Goldman Sachs Trust Board Meeting.

⁵⁷	This Management Agreement was approved on behalf of the Strategic Factor Allocation Fund at the April 14, 2016 Goldman Sachs Trust Board Meeting.

⁵⁸	This Management Agreement was approved on behalf of the Energy Infrastructure Fund (formerly, MLP & Energy Fund) at the August 17, 2017 Goldman Sachs Trust Board Meeting.

⁵⁹	This Management Agreement was approved on behalf of the ESG Emerging Markets Equity Fund at the February 15, 2018 Goldman Sachs Trust Board Meeting.

⁶⁰	This Management Agreement was approved on behalf of the Small Cap Growth Fund at the October 11, 2018 Goldman Sachs Trust Board Meeting.

⁶¹	This Management Agreement was approved on behalf of the Municipal Income Completion Fund at the February 13, 2019 Goldman Sachs Trust Board Meeting.

⁶²	This Management Agreement was approved on behalf of the Income Fund at the October 16, 2019 Goldman Sachs Trust Board Meeting.

⁶³	This Management Agreement was approved on behalf of the Clean Energy Income Fund at the April 15, 2020 Goldman Sachs Trust Board Meeting.

⁶⁴	This Management Agreement on behalf of the International Equity ESG Fund (formerly, Focused International Equity Fund) was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁶⁵	This Management Agreement on behalf of the Emerging Markets Equity Fund was amended at the June 15, 2017 Goldman Sachs Trust Board Meeting.

⁶⁶	This Management Agreement was approved on behalf of the International Equity Income Fund (formerly, Strategic International Equity Fund) at the November 9, 2006 Goldman Sachs Trust Board Meeting and amended at the February 15, 2018 Goldman Sachs Trust Board Meeting.