Goldman Sachs Asset Management (“GSAM”) hosted a conference call for the Goldman Sachs MLP Income Opportunities Fund (GMZ) and Goldman Sachs MLP and Energy Renaissance Fund (GER) (together, the “Funds”) on August 12, 2015 to update investors regarding the recent market environment as well as the Energy and Infrastructure team’s long-term outlook for investing in U.S. energy. A focus of that call was a discussion of the Funds’ distributions. GSAM is providing additional information regarding the Funds’ distribution policy and the composition of the Funds’ distributions.

The current distribution policy of the Funds is to distribute – over the long term - substantially all of the Funds’ distributable cash flow received as cash distributions from MLPs, interest payments received on debt securities owned by the Funds and other payments on securities owned by the Funds, less expenses. To permit the Funds to maintain more stable quarterly distributions, the distributions paid by the Funds for any particular quarterly period may be more or less than the amount of net investment income actually earned by the Funds during the period. Since inception, the Funds have earned 100% of the dividends paid out to investors on a cumulative basis from underlying investments.

While the distributions paid by the Funds have been covered by cash flows received from the underlying investments in accordance with the distribution policy, the Funds have made a limited number of short term equity purchases followed by sales in order to generate dividend income. These investments were made primarily by GER, and the income generated by GER from these investments represented approximately 6 - 7% of the total aggregate cash flows earned from underlying investments over the life of the Fund.1 Excluding income generated from these short term investments, since inception, GER has earned 100% of the dividends it paid out to investors on a cumulative basis.

1 The income generated by GMZ from these investments represented approximately 0.05% of the total aggregate cash flows earned from underlying investments over the life of the Fund.

The Funds

Each Fund is a non-diversified, closed-end management investment company managed by GSAM’s Energy & Infrastructure Team, which is among the industry’s largest master limited partnership (“MLP”) investment groups. The MLP Income Opportunities Fund began trading on the NYSE on November 25, 2013, and the MLP and Energy Renaissance Fund began trading on the NYSE on September 26, 2014.

Each Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The MLP Income Opportunities Fund invests primarily in MLP investments. The MLP and Energy Renaissance Fund invests primarily in MLPs and other energy investments. Each Fund currently expects to concentrate its investments in the energy sector, with an emphasis on midstream MLP investments. The MLP and Energy Renaissance Fund invests across the energy value chain, including upstream, midstream and downstream investments.

About Goldman Sachs Asset Management, L.P.

GSAM is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), and supervises $1.18 trillion as of June 30, 2015.2 GSAM has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.

2 Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion.

Disclosures

Shares of closed-end investment companies frequently trade at a discount from their net asset value (“NAV”), which may increase investors’ risk of loss. At the time of sale, an investor’s shares may have a market price that is above or below NAV, and may be worth more or less than the original investment. There is no assurance that a Fund will meet its investment objective. Past performance does not guarantee future results. Investments in securities of MLPs involve risks that differ from investments in common stock, including among others risks related to limited control and limited rights to vote on matters affecting MLPs, potential conflicts of interest risk, cash flow risks, dilution risks and trading risks. Cash flows from the Funds’ investments are variable and may be higher or lower in the future.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. Each Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in a Fund. An investment in a Fund is not appropriate for all investors, and the Funds are not intended to be a complete investment program. Investors should carefully review and consider a Fund’s investment objective, risks, charges and expenses before investing.

For additional information, please visit the Funds’ website at www.GSAMFUNDS.com/cef.

Compliance Code: 168565.MF.MED.OTU
Date of First Use: August 21, 2015