Goldman Sachs Prime Insights Analytics At the Half Webinar Slide Pack

Global Banking & Markets | FICC & Equities Prime Services | Hedge Fund Insights & Analytics

At the Half The Current Status of the Hedge Fund Industry and Outlook for the Remainder of 2026 July 2026

Prepared by a Goldman Sachs sales and trading desk, which may have a position in the products mentioned that is inconsistent with the views expressed in this material. 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.

I. Hedge Fund Performance Themes from 2026 H1 III. Allocator Sentiment and Asset Allocation Plans • Hedge Fund Performance in Market Context • Hedge Fund Portfolio Outcomes • Performance by Strategy • Asset Allocation Plans for H2 • Return Dispersion • Recent Hedge Fund Flows • Deep-Dive on Equity L/S Performance & Alpha • AI & Alpha Dynamics IV. Hedge Fund Allocation Plans • Strategy & Sub-Strategy Appetite

II. Hedge Fund Positioning and Trading Flows • Allocator Exposure to AI Themes

• Overall Positioning and Trading Flows • Geographic Appetite

• Factor Highlights • Expected Activity in H2

• Regional Positioning • US Thematic and Sector Highlights

Global Banking & Markets | FICC & Equities | Confidential Introduction | 2