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Goldman Sachs Compensation Practices The Goldman Sachs Group, Inc. April 2011 Cautionary Note on Forward-Looking Statements This presentation may include forward-looking statements. These statements represent the firm’s belief regarding future events that, by their nature, are uncertain and outside of the firm’s control. The firm’s actual results and financial condition may differ, possibly materially, from what is indicated in those forward-looking statements. For a discussion of some of the risks and factors that could affect the firm’s future results, please see the description of “Risk Factors” in our annual report on Form 10-K for our fiscal year ended December 2010. You should also read the information on the calculation of non-GAAP financial measures that is posted on the Investors portion of our website: . The statements in this presentation are current only as of their respective dates. 2 Goals of Compensation1 Goldman Sachs’ compensation framework is designed to align the long-term interests of our people with those of our shareholders Attract and Retain Talent  Attracting and retaining talent is fundamental to our long-term success as a firm  Our compensation framework is designed to attract and retain the most talented people, which we believe has contributed to our relative outperformance Directly Align Firmwide Compensation with Firmwide Performance  Guaranteed employment contracts should be used only in exceptional circumstances, and multi-year guarantees should be avoided entirely  Senior people and more highly paid people may experience more variability in their compensation based on year-to-year changes in our firms results Evaluate Performance Over Time  Compensation, in most cases, includes discretion