Goldman Sachs Variable Insurance Trust

10/24/2025 | Press release | Distributed by Public on 10/24/2025 14:59

Prospectus by Investment Company (Form 497)

GOLDMAN SACHS VARIABLE INSURANCE TRUST

Institutional and Service Shares of the

Goldman Sachs Buffered S&P 500 Fund - May/Nov

(the "Fund")

Supplement dated October 24, 2025 to the

Prospectuses dated April 30, 2025, as supplemented to date

Capitalized terms and certain other terms used in this supplement, unless otherwise defined in this supplement, have the meanings assigned to them in the Fund's Prospectuses.

As described in the Fund's Prospectuses, the Fund's performance is subject to a Cap that represents the maximum percentage return the Fund can achieve for the duration of a six-month Outcome Period. The Fund also seeks to provide a downside Buffer against certain losses over an Outcome Period.

The Fund's current Outcome Period will end on October 31, 2025, and the Fund's next Outcome Period will commence on November 3, 2025 and end on April 30, 2026. The Fund's Cap is based on the cost of providing the Buffer and will differ from one Outcome Period to the next. The final Cap and Buffer will be set on or before the first day of an Outcome Period.

As of October 24, 2025, the Cap for the next Outcome Period is expected to be within the ranges shown in the table below. The table shows the expected Cap ranges before and after Fund Fees and Expenses for each share class. The Fund's returns will be further reduced by any brokerage commissions, trading fees, taxes and non-routine or extraordinary expenses incurred by the Fund.

Share Class

Estimated Cap Range (before Fund
Fees and Expenses)* 		Estimated Cap Range (after Fund
Fees and Expenses)*

Institutional Shares

7.50% to 9.50% 7.15% to 9.15%

Service Shares

7.50% to 9.50% 7.02% to 9.02%
*

Fund Fees and Expenses are derived from the "Annual Fund Operating Expenses" tables included in the Fund's Prospectuses dated April 30, 2025. Actual Fund Fees and Expenses may differ over the next Outcome Period.

The above estimated Cap ranges are based on market conditions as of October 24, 2025. The final Cap could fall outside of this range if there is a material change in market conditions between the date of this Supplement and the date on which the final Cap is established. The Cap and Buffer will be set on or before the first day of an Outcome Period, and a supplement to the Fund's Prospectuses will be filed on or about the commencement of the next Outcome Period to provide the Fund's final Cap and Buffer information.

This Supplement should be retained with your Prospectus for future reference.

INIVTBF500MYNVSTK 10-25

Goldman Sachs Variable Insurance Trust published this content on October 24, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on October 24, 2025 at 20:59 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]