Exhibit 99.1

The Goldman Sachs Group, Inc.  |  200 West Street  |  New York, New York 10282

		GOLDMAN SACHS REPORTS EARNINGS PER COMMON SHARE OF $17.07 FOR 2014   FOURTH QUARTER EARNINGS PER COMMON SHARE WERE $4.38

NEW YORK, January 16, 2015 — The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $34.53 billion and net earnings of $8.48 billion for the year ended December 31, 2014. Diluted earnings per common share were $17.07 compared with $15.46 for the year ended December 31, 2013. Return on average common shareholders’ equity (ROE) ⁽¹⁾ was 11.2% for 2014.

Fourth quarter net revenues were $7.69 billion and net earnings were $2.17 billion. Diluted earnings per common share were $4.38 compared with $4.60 for the fourth quarter of 2013 and $4.57 for the third quarter of 2014. Annualized ROE ⁽¹⁾ was 11.1% for the fourth quarter of 2014.

Annual Highlights

“We are pleased with our performance during a year characterized by mixed global economic and financial conditions,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer. “The depth of our global client franchise and our continued discipline on expenses and capital management produced a solid return for our shareholders. Looking ahead, we see evidence of a continued pick up in momentum for the global economy that will improve the opportunity set for 2015.”

Net Revenues

Investment Banking

Full Year

Net revenues in Investment Banking were $6.46 billion for 2014, 8% higher than 2013. Net revenues in Financial Advisory were $2.47 billion, 25% higher than 2013, reflecting an increase in industry-wide completed mergers and acquisitions, primarily in the United States. Net revenues in Underwriting were $3.99 billion, essentially unchanged compared with a strong 2013, as industry-wide activity levels remained high. Net revenues in debt underwriting were slightly lower compared with 2013, reflecting lower net revenues from commercial mortgage-related activity, while net revenues in equity underwriting were slightly higher, principally from initial public offerings. The firm’s investment banking transaction backlog increased significantly compared with the end of 2013. ⁽⁸⁾

Fourth Quarter

Net revenues in Investment Banking were $1.44 billion for the fourth quarter of 2014, 16% lower than the fourth quarter of 2013 and 2% lower than the third quarter of 2014. Net revenues in Financial Advisory were $692 million, 18% higher than the fourth quarter of 2013, reflecting an increase in industry-wide completed mergers and acquisitions. Net revenues in Underwriting were $748 million, 34% lower than a strong fourth quarter of 2013, due to significantly lower net revenues in both equity and debt underwriting, primarily reflecting a decrease in industry-wide activity. The firm’s investment banking transaction backlog increased compared with the end of the third quarter of 2014. ⁽⁸⁾

Institutional Client Services

Full Year

Net revenues in Institutional Client Services were $15.20 billion for 2014, 3% lower than 2013. Results for 2014 included a gain of $270 million in the third quarter related to the extinguishment of certain of the firm’s junior subordinated debt, of which $157 million was included in Fixed Income, Currency and Commodities Client Execution and $113 million in Equities ($28 million and $85 million included in equities client execution and securities services, respectively).

Net revenues in Fixed Income, Currency and Commodities Client Execution were $8.46 billion for 2014, 2% lower than 2013. Excluding the gain related to the extinguishment of debt in 2014 and a gain of $211 million on the sale of a majority stake in the firm’s European insurance business in 2013, net revenues in Fixed Income, Currency and Commodities Client Execution were slightly lower compared with 2013. This decline reflected significantly lower net revenues in credit products and slightly lower net revenues in both interest rate products and mortgages, largely offset by significantly higher net revenues in commodities and higher net revenues in currencies. During 2014, Fixed Income, Currency and Commodities Client Execution continued to operate in a challenging environment as economic uncertainty contributed to generally low levels of activity, particularly in credit products, interest rate products and mortgages.

Net revenues in Equities were $6.74 billion for 2014, 5% lower than 2013. Excluding the gain related to the extinguishment of debt in 2014 and net revenues of $317 million related to the firm’s Americas reinsurance business ⁽⁹⁾, which was sold in 2013, net revenues in Equities were slightly lower compared with 2013. This decline reflected lower net revenues in derivatives, partially offset by slightly higher commissions and fees and slightly higher net revenues in securities services. The increase in securities services net revenues reflected the impact of higher average customer balances. During 2014, Equities operated in an environment generally characterized by an increase in global equity prices and low volatility levels, although volatility levels increased during the fourth quarter.

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The net gain attributable to the impact of changes in the firm’s own credit spreads on borrowings for which the fair value option was elected was $144 million ($108 million and $36 million related to Fixed Income, Currency and Commodities Client Execution and equities client execution, respectively) for 2014, compared with a net loss of $296 million ($220 million and $76 million related to Fixed Income, Currency and Commodities Client Execution and equities client execution, respectively) for 2013.

Fourth Quarter

Net revenues in Institutional Client Services were $3.15 billion for the fourth quarter of 2014, 8% lower than the fourth quarter of 2013 and 17% lower than the third quarter of 2014.

Net revenues in Fixed Income, Currency and Commodities Client Execution were $1.22 billion for the fourth quarter of 2014, 29% lower than the fourth quarter of 2013. Excluding a gain of $211 million on the sale of a majority stake in the firm’s European insurance business in the fourth quarter of 2013, net revenues in Fixed Income, Currency and Commodities Client Execution were 19% lower than the fourth quarter of 2013, due to significantly lower net revenues in credit products and lower net revenues in mortgages. These decreases were partially offset by significantly higher net revenues in commodities and higher net revenues in both currencies and interest rate products. During the quarter, Fixed Income, Currency and Commodities Client Execution operated in an environment generally characterized by difficult market-making conditions and continued low levels of activity, particularly in credit products, interest rate products and mortgages.

Net revenues in Equities were $1.93 billion for the fourth quarter of 2014, 15% higher than the fourth quarter of 2013, primarily due to significantly higher net revenues in equities client execution, principally from cash products. In addition, commissions and fees were higher, primarily due to higher volumes, and securities services net revenues were slightly higher, reflecting the impact of higher average customer balances. During the quarter, Equities operated in an environment generally characterized by an increase in global equity prices, higher volatility levels and improved client activity levels compared with the third quarter of 2014.

The net gain attributable to the impact of changes in the firm’s own credit spreads on borrowings for which the fair value option was elected was $82 million ($55 million and $27 million related to Fixed Income, Currency and Commodities Client Execution and equities client execution, respectively) for the fourth quarter of 2014, compared with a net loss of $206 million ($163 million and $43 million related to Fixed Income, Currency and Commodities Client Execution and equities client execution, respectively) for the fourth quarter of 2013.

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Investing & Lending

Full Year

Net revenues in Investing & Lending were $6.83 billion for 2014, 3% lower than 2013. Results for 2014 included net gains of $3.81 billion from investments in equities, primarily reflecting net gains from company-specific events and strong corporate performance in private equities. In addition, Investing & Lending net revenues included net gains and net interest income of $2.17 billion from debt securities and loans, and other net revenues of $847 million related to the firm’s consolidated investments ⁽¹⁰⁾.

Fourth Quarter

Net revenues in Investing & Lending were $1.53 billion for the fourth quarter of 2014, 26% lower than the fourth quarter of 2013 and 9% lower than the third quarter of 2014. Results for the fourth quarter of 2014 included net gains of $982 million from investments in equities, primarily reflecting net gains from company-specific events in private equities and net gains in public equities. In addition, Investing & Lending net revenues included net gains and net interest income of $358 million from debt securities and loans, and other net revenues of $192 million related to the firm’s consolidated investments ⁽¹⁰⁾.

Investment Management

Full Year

Net revenues in Investment Management were $6.04 billion for 2014, 11% higher than 2013, reflecting higher management and other fees, primarily due to higher average assets under supervision, as well as higher incentive fees and transaction revenues. During the year, total assets under supervision ⁽³⁾ increased $136 billion to $1.18 trillion. Long-term assets under supervision increased $99 billion, including net inflows of $74 billion ⁽⁴⁾ and net market appreciation of $25 billion, both primarily in fixed income and equity assets. In addition, liquidity products increased $37 billion ⁽⁴⁾.

Fourth Quarter

Net revenues in Investment Management were $1.57 billion for the fourth quarter of 2014, 2% lower than the fourth quarter of 2013 and 7% higher than the third quarter of 2014. The decrease in net revenues compared with the fourth quarter of 2013 reflected significantly lower incentive fees, partially offset by higher management and other fees, primarily due to higher average assets under supervision. During the quarter, total assets under supervision ⁽³⁾ increased $28 billion to $1.18 trillion, reflecting an increase in liquidity products.

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Expenses

Operating expenses were $22.17 billion for 2014, essentially unchanged compared with 2013.

Compensation and Benefits

Compensation and benefits expenses (including salaries, discretionary compensation, amortization of equity awards and other items such as benefits) were $12.69 billion for 2014, essentially unchanged compared with 2013. The ratio of compensation and benefits to net revenues for 2014 was 36.8% compared with 36.9% for 2013. Total staff increased 3% during 2014.

Non-Compensation Expenses

Full Year

Non-compensation expenses were $9.48 billion for 2014, 4% lower than 2013, due to lower net provisions for litigation and regulatory proceedings and lower operating expenses related to consolidated investments (both included in other expenses), as well as a decline in insurance reserves, reflecting the sale of the firm’s Americas reinsurance business in 2013. These decreases were partially offset by an increase in brokerage, clearing, exchange and distribution fees. Net provisions for litigation and regulatory proceedings for 2014 were $754 million compared with $962 million for 2013.

Fourth Quarter

Non-compensation expenses were $2.52 billion for the fourth quarter of 2014, 17% lower than the fourth quarter of 2013 and 11% higher than the third quarter of 2014. The decrease compared with the fourth quarter of 2013 reflected a significant decrease in other expenses, primarily due to lower net provisions for litigation and regulatory proceedings, and a decrease in depreciation and amortization expenses, primarily due to lower impairment charges related to consolidated investments. These decreases were partially offset by an increase in brokerage, clearing, exchange and distribution fees, principally reflecting higher transaction volumes in Equities.

Net provisions for litigation and regulatory proceedings for the fourth quarter of 2014 were $161 million compared with $561 million for the fourth quarter of 2013 (both primarily comprised of net provisions for mortgage-related matters). Impairment charges for the fourth quarter of 2014 were $110 million compared with $196 million for the fourth quarter of 2013. The fourth quarter of 2014 also included a $137 million charitable contribution to Goldman Sachs Gives. Compensation was reduced to fund this charitable contribution to Goldman Sachs Gives.

Provision for Taxes

The effective income tax rate for 2014 was 31.4%, up from 31.0% for the first nine months of 2014, reflecting a decrease in the impact of permanent benefits, and essentially unchanged compared with 31.5% for 2013.

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Capital

As of December 31, 2014, total capital was $250.37 billion, consisting of $82.80 billion in total shareholders’ equity (common shareholders’ equity of $73.60 billion and preferred stock of $9.20 billion) and $167.57 billion in unsecured long-term borrowings. Book value per common share was $163.01 and tangible book value per common share ⁽⁶⁾ was $153.79, both approximately 7% higher compared with the end of 2013 and approximately 1% higher compared with the end of the third quarter of 2014. Book value per common share and tangible book value per common share are based on common shares outstanding, including restricted stock units granted to employees with no future service requirements, of 451.5 million as of December 31, 2014.

During 2014, the firm’s quarterly dividend was increased to $0.60 per common share from $0.55 per common share. On January 15, 2015, the Board of Directors of The Goldman Sachs Group, Inc. declared a dividend of $0.60 per common share to be paid on March 30, 2015 to common shareholders of record on March 2, 2015.

During the year, the firm repurchased 31.8 million shares of its common stock at an average cost per share of $171.79, for a total cost of $5.47 billion, including 6.6 million shares during the fourth quarter at an average cost per share of $188.14, for a total cost of $1.25 billion. The remaining share authorization under the firm’s existing repurchase program is 25.4 million shares. ⁽¹¹⁾

The firm’s Common Equity Tier 1 ratio ⁽⁷⁾ was 12.2% ⁽⁵⁾ as of December 31, 2014, up from 11.8% as of September 30, 2014, in each case under the Basel III Advanced approach reflecting the applicable transitional provisions.

Other Balance Sheet and Liquidity Metrics

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The Goldman Sachs Group, Inc. 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. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but instead represent only the firm’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the firm’s control. It is possible that the firm’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect the firm’s future results and financial condition, see “Risk Factors” in Part I, Item 1A of the firm’s Annual Report on Form 10-K for the year ended December 31, 2013.

Certain of the information regarding the firm’s capital ratios, risk-weighted assets, total assets, level 3 assets and global core excess liquidity consist of preliminary estimates. These estimates are forward-looking statements and are subject to change, possibly materially, as the firm completes its financial statements.

Statements about the firm’s investment banking transaction backlog also may constitute forward-looking statements. Such statements are subject to the risk that the terms of these transactions may be modified or that they may not be completed at all; therefore, the net revenues, if any, that the firm actually earns from these transactions may differ, possibly materially, from those currently expected. Important factors that could result in a modification of the terms of a transaction or a transaction not being completed include, in the case of underwriting transactions, a decline or continued weakness in general economic conditions, outbreak of hostilities, volatility in the securities markets generally or an adverse development with respect to the issuer of the securities and, in the case of financial advisory transactions, a decline in the securities markets, an inability to obtain adequate financing, an adverse development with respect to a party to the transaction or a failure to obtain a required regulatory approval. For a discussion of other important factors that could adversely affect the firm’s investment banking transactions, see “Risk Factors” in Part I, Item 1A of the firm’s Annual Report on Form 10-K for the year ended December 31, 2013.

Conference Call

A conference call to discuss the firm’s results, outlook and related matters will be held at 9:30 am (ET). The call will be open to the public. Members of the public who would like to listen to the conference call should dial 1-888-281-7154 (in the U.S.) or 1-706-679-5627 (outside the U.S.). The number should be dialed at least 10 minutes prior to the start of the conference call. The conference call will also be accessible as an audio webcast through the Investor Relations section of the firm’s web site, www.goldmansachs.com/investor-relations. There is no charge to access the call. For those unable to listen to the live broadcast, a replay will be available on the firm’s web site or by dialing 1-855-859-2056 (in the U.S.) or 1-404-537-3406 (outside the U.S.) passcode number 87414342 beginning approximately three hours after the event. Please direct any questions regarding obtaining access to the conference call to Goldman Sachs Investor Relations, via e-mail, at gs-investor-relations@gs.com.

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THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES

SEGMENT NET REVENUES

(UNAUDITED)

$ in millions

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THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES

SEGMENT NET REVENUES

(UNAUDITED)

$ in millions

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THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS

(UNAUDITED)

In millions, except per share amounts

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THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS

(UNAUDITED)

In millions, except per share amounts and total staff