THE WORLD CUP AND ECONOMICS: The French Toast But Survive (05 July)

Research evidence excerpt

THE WORLD CUP AND ECONOMICS: The French Toast But Survive (05 July)

Goldman Sachs The World Cup and Economics

Disclosure Appendix

Reg AC

We, Jan Hatzius, Giovanni Pierdomenico and Sven Jari Stehn, hereby certify that all of the views expressed in this report accurately reflect our personal

views, which have not been influenced by considerations of the firm’s business or client relationships.

Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Goldman Sachs’ Global Investment Research division.

Contributing Authors: Jan Hatzius Goldman Sachs & Co. LLC, Giovanni Pierdomenico Goldman Sachs International, Sven Jari Stehn Goldman Sachs

International.

Unless otherwise stated, the individuals listed in the Contributing Authors disclosure of this report are analysts in Goldman Sachs’ Global Investment

Research division.

Disclosures

Regulatory disclosures

Disclosures required by United States laws and regulations

See company-specific regulatory disclosures above for any of the following disclosures required as to companies referred to in this report: manager or

co-manager in a pending transaction; 1% or other ownership; compensation for certain services; types of client relationships; managed/co-managed

public offerings in prior periods; directorships; for equity securities, market making and/or specialist role. Goldman Sachs trades or may trade as a

principal in debt securities (or in related derivatives) of issuers discussed in this report.

The following are additional required disclosures: Ownership and material conflicts of interest: Goldman Sachs policy prohibits its analysts,

professionals reporting to analysts and members of their households from owning securities of any company in the analyst’s area of coverage. Analyst