Daily ShortActivity16Sept2026 US CLEARED

GOLDMAN SACHS FICC AND EQUITIES Securities Lending Prepared by Prime Brokerage.In evaluating this material, you should know that it could have been previously provided to other clients and/or internal Goldman Sachs personnel, who could have already acted on it. The views or ideas expressed here are those of the desk and/or author only and are not an “official view” of Goldman Sachs; others at Goldman Sachs may have opinions or may express views that are contrary to those herein. This material is not independent advice and is not a product of Global Investment Research. This material is a solicitation of derivatives business generally, only for the purposes of, and to the extent it would otherwise be subject to, CFTC Regulations 1.71 and 23.605.

US Equities: Daily Short Activity 9/17/2026

Daily Short Flows (ex-ETFs) Daily ETF Flows and GS ETF Short Activity Index

Daily Short Flow Short Index Daily ETF Flows ETF Short Activity Index

105 5% 104 4.0% 3.0% 4% 102 100

ETF Short Activity Index Daily ETF Short Flows 2.0% 3% 100 95

Daily Short Flow 1.0% 2% 98 90 1% 0.0%

Short Index 96 -1.0% 85 0% 94 -1% -2.0% 80 92 -3.0% -2% 90 75 -4.0% -3% Day/Day: 0.7% Day/Day: 1.3% 88 -5.0% 70 -4% Jun-26 Jul-26 Sep-26 Jun-26 Jul-26 Sep-26 Past Performance is not indicative of future results. Past Performance is not indicative of future results. Source: Goldman Sachs Securities Lending and Reuters as of 09/17/2026 Source: Goldman Sachs Securities Lending as of 09/17/2026

Sector Short Flows and Price Performance

Real Estate 1.7% Financials 1.4% Industrials 1.4% Technology 0.8% Health Care 0.7% Consumer Disc 0.5% Materials 0.2% Energy 0.2% Utilities 0.1% ComSvcs 0.0% Consumer Staples -0.6% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0%

Source: Goldman Sachs Securities Lending and Reuters as of 09/17/2026 Past Performance is not indicative of future results.

Goldman Sachs Securities Lending

GOLDMAN SACHS FICC AND EQUITIES Securities Lending Prepared by Prime Brokerage.In evaluating this material, you should know that it could have been previously provided to other clients and/or internal Goldman Sachs personnel, who could have already acted on it. The views or ideas expressed here are those of the desk and/or author only and are not an “official view” of Goldman Sachs; others at Goldman Sachs may have opinions or may express views that are contrary to those herein. This material is not independent advice and is not a product of Global Investment Research. This material is a solicitation of derivatives business generally, only for the purposes of, and to the extent it would otherwise be subject to, CFTC Regulations 1.71 and 23.605.

US Equities: Daily Short Activity 9/17/2026

TOP 5 Shorted INDUSTRIES by Percent Change TOP 5 Covered INDUSTRIES by Percent Change Short Flow Short Flow

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 0.0% -1.0% -2.0% -3.0% -4.0%

Real Estate Mgmt & Development 5.2% Electronic Equipment, Instruments & Component -3.5%

Household Durables 3.2% Passenger Airlines -1.4%

Aerospace & Defense 2.8% Diversified Telecom Svcs -1.3%

Software 2.5% Construction & Engineering -1.3%

Wireless Telecom Svcs 2.4% Electric Utilities -0.8%

TOP 10 Shorted GC Stocks by MV of Short Chg TOP 10 Covered GC Stocks by MV of Short Chg 1-Day Change 1-Day Change Company Ticker Sector Short Price Company Ticker Sector Short Price Top Shorted Top Covered Caterpillar Inc (Delaware) CAT Industrials 7.7% -0.1% Dell Technologies Inc. DELL InfoTech -2.4% 3.6% Alphabet Inc. GOOGL ComSvcs 3.1% -0.6% Intl Business Machines Corp IBM InfoTech -4.0% -4.4% Meta Platforms Inc-Class A META ComSvcs 4.7% 0.5% Ciena Corporation CIEN InfoTech -12.2% 1.8% Visa Inc. V Financials 9.8% -1.2% Arthur J Gallagher & Co AJG Financials -9.6% -1.7% Nvidia Corporation NVDA InfoTech 1.6% 0.8% Constellation Energy Corp CEG Utilities -2.7% -0.1% Micron Technology, Inc. MU InfoTech 3.7% -0.1% Ge Vernova Llc GEV Industrials -1.6% 4.8% Axon Enterprise, Inc. AXON Industrials 32.9% 6.0% Fedex Corporation FDX Industrials -11.7% -2.1% Cummins Inc CMI Industrials 18.3% -2.0% Abbvie Inc. ABBV HealthCare -1.9% -0.2% Check Point Software Tech. Ltd CHKP InfoTech 24.3% -0.1% Broadcom Inc. AVGO InfoTech -1.3% 0.1% General Electric Company GE…