UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934 (Amendment No.    )

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GOLDMAN SACHS TRUST

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December 2020

URGENT

Re: Your investment in:

Goldman Sachs Concentrated Growth Fund

Goldman Sachs Emerging Markets Equity Insights Fund

Goldman Sachs Emerging Markets Equity Fund

Goldman Sachs Technology Opportunities Fund

Goldman Sachs Strategic Growth Fund

(the “Funds”)

Dear Shareholder,

Broadridge Financial Solutions has been engaged by Goldman Sachs to contact you regarding an important matter pertaining to your investment in one or more of the Funds.

Our previous attempts to contact you have been unsuccessful. Accordingly, please contact us immediately at 1-833-934-2733 Monday through Friday between the hours of 9:00am to 10:00pm Eastern Time.

This matter is very important and will take only a moment of your time.

Thank you in advance for your assistance with this matter.

Sincerely,

Michael Collins

Vice President and General Manager