Goldman Sachs Asset Management will reduce the management fee of the ActiveBeta Emerging Markets Equity ETF from 0.40% to 0.35%, effective December 29, 2026. The fund will also adopt a unitary fee structure under which GSAM will cover substantially all operating expenses, apart from specified costs such as taxes, interest, brokerage, acquired fund fees and certain extraordinary expenses. As a result, total annual fund operating expenses will be 0.35%, with other expenses listed at zero. Under the prospectus’s standardized assumptions, a $10,000 investment would cost $36 over one year, $113 over three years, $197 over five years and $443 over 10 years.