WASHINGTON MUTUAL INVESTORS FUND



INVESTMENT
ADVISORY AND SERVICE AGREEMENT





THIS
investment advisory and service AGREEMENT, dated and effective as of the 1st day of September, 2014, is made and entered
into by and between WASHINGTON MUTUAL INVESTORS FUND, a Delaware statutory trust, (the “Fund”), and CAPITAL RESEARCH
AND MANAGEMENT COMPANY, a Delaware corporation (the “Investment Adviser”).





W I T N E S S E T H





The Fund is an open-end
diversified investment company of the management type, registered under the Investment Company Act of 1940, as amended (the “1940
Act”). The Investment Adviser is registered under the Investment Advisers Act of 1940, as amended, and is engaged in the
business of providing investment advisory and related services to the Fund and to other investment companies.



NOW, THEREFORE, in consideration
of the premises and the mutual undertaking of the parties, it is covenanted and agreed as follows:



1.	The Fund hereby employs
the Investment Adviser to provide investment advisory and fund administration services to the Fund, as set forth herein. The Investment
Adviser hereby accepts such employment and agrees to render the services to the extent herein set forth, for the compensation herein
provided. The Investment Adviser shall, for all purposes herein, be deemed an independent contractor and not an agent of the Fund.



2.	(a)	The Investment
Adviser shall provide general management services to the Fund, including overall supervisory responsibility for the general management
and investment of the Fund’s assets in accordance with the Fund’s investment standards and any eligible list of securities
(“Eligible List”) established by the Board of Trustees, giving due consideration to the policies of the Fund as expressed
in the Fund’s agreement and declaration of trust, by-laws, registration statement under the 1940 Act and registration statement
under the Securities Act of 1933, as amended (the “1933 Act”), as well as to the factors affecting the Fund’s
status as a regulated investment company under the Internal Revenue Code of 1986, as amended. The Investment Adviser shall submit
recommendations to the Board of Trustees for additions to and/or deletions from the Eligible List. Securities recommended for addition
shall in the opinion of the Investment Adviser comply with the Fund’s investment criteria. Securities which are recommended
for deletion may include securities which in the opinion of the Investment Adviser do not so comply.



(b)	The Investment
Adviser may delegate its investment management responsibilities under paragraph 2(a), or any portion thereof, to one or more entities
that are direct or indirect subsidiaries of the Investment Adviser or at least majority owned subsidiaries of The Capital Group
Companies, Inc. and registered as investment advisers under the Investment Advisers Act of 1940 (each a “Subsidiary”),
pursuant to an agreement







between the Investment Adviser and the Subsidiary
(the “Subsidiary Agreement”). The Subsidiary Agreement with any Subsidiary to which the Investment Adviser proposes
to delegate its investment management responsibilities must be approved by the Fund’s Board of Trustees, including a majority
of the Trustees who are not parties to this Agreement nor interested persons of any such party within the meaning of the 1940 Act
(“Independent Trustees”). Any delegation of duties pursuant to this paragraph shall comply with all applicable provisions
of Section 15 of the 1940 Act, except to the extent permitted by any exemptive order of the Securities and Exchange Commission
(“SEC”), or similar relief.



(c)	The Investment
Adviser will, subject to the review and approval of the Board of Trustees of the Fund: (i) set the Fund’s overall investment
strategies; (ii) except to the extent delegated to one or more Subsidiaries, have full investment discretion for the Fund and make
all determinations with respect to the investment of the Fund’s assets, the purchase and sale of portfolio securities with
those assets, and any steps that may be necessary to implement any investment decisions; (iii) evaluate, select and recommend Subsidiaries
to manage all or a part of the Fund’s assets; (iv) when appropriate, allocate and reallocate the Fund’s assets among
multiple Subsidiaries; (v) monitor and evaluate the performance of Subsidiaries; and (vi) implement procedures reasonably
designed to ensure that the Subsidiaries comply with the Fund’s investment objective, policies and restrictions. The Investment
Adviser shall be solely responsible for paying the fees of any Subsidiary.



(d)	Any Subsidiary
Agreement may provide that the Subsidiary, subject to the control and supervision of the Fund’s Board of Trustees and the
Investment Adviser, shall have full investment discretion for the Fund subject to the Fund’s policies and investment criteria,
as indicated in paragraph 2(a), and shall make all determinations with respect to (i) the investment of the Fund’s assets
assigned to the Subsidiary; (ii) the purchase and sale of portfolio securities with those assets, and (iii) any steps that may
be necessary to implement an investment decision. The Investment Adviser shall periodically evaluate the continued advisability
of retaining any Subsidiary and shall make recommendations to the Fund’s Board of Trustees, as needed.



(e)	The Investment
Adviser shall furnish the services of persons to perform the executive, administrative, clerical, and recordkeeping functions of
the Fund, including the daily determination of net asset value per share. The Investment Adviser shall pay the compensation and
travel expenses of all such persons, and they shall serve without any additional compensation from the Fund. The Investment Adviser
shall also, at its expense, provide the Fund with necessary office space (which may be in the offices of the Investment Adviser);
all necessary office equipment and utilities; and general purpose forms, supplies, and postage used at the offices of the Fund.



(f)	The Investment
Adviser shall maintain (and cause each Subsidiary to maintain) all books and records with respect to the Fund’s investment
management activities that are required to be maintained pursuant to the 1940 Act and the rules thereunder, as well as any other
applicable legal requirements. The Investment Adviser acknowledges and agrees that all such records are the property of the Fund,
and it shall maintain and preserve such records in accordance with applicable law and provide such records promptly to the Fund
upon request.









(g)	The Investment
Adviser shall prepare and submit and/or cause a Subsidiary to prepare and submit to the Fund all data on the performance of its
duties as investment adviser for required filings with governmental agencies or for the preparation of reports to the Board of
Trustees or the shareholders of the Fund.



(h)	The Investment
Adviser shall furnish from time to time such other appropriate information as may be reasonably requested by the Fund and shall
cause each Subsidiary to do so.



3.	The Fund shall pay all
its expenses not assumed by the Investment Adviser as provided herein. Such expenses shall include, but shall not be limited to,
expenses incurred in connection with the organization of the Fund, its qualification to do business in the State of California,
and its registration as an investment company under the 1940 Act; custodian, stock transfer and dividend disbursing fees and expenses;
service and distribution expenses pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act; expenses incurred
for shareholder servicing, recordkeeping, transactional services, tax and informational returns and fund and shareholder communications;
costs of designing and of printing and mailing to its shareholders reports, prospectuses, proxy statements, and notices to its
shareholders; taxes; expenses of the issuance, sale, redemption, or repurchase of shares of the Fund (including registration and
qualification expenses); legal and auditing fees and expenses; compensation, fees, and expenses paid to Independent Trustees; association
dues; and costs of any share certificates, stationery and forms prepared exclusively for the Fund.



4.	(a)	The Fund shall
pay to the Investment Adviser on or before the tenth (10th) day of each month, as compensation for the services rendered by the
Investment Adviser during the preceding month a fee calculated at the annual rate of:



.342% of first $3 billion of net assets,

.265% of net assets in excess of $3 billion but not exceeding
$8 billion,

.243% of net assets in excess of $8 billion but not exceeding
$12 billion,

.242 % of net assets in excess of $12 billion but not exceeding
$21 billion,

.235% of net assets in excess of $21 billion but not exceeding
$34 billion,

.230% of net assets in excess of $34 billion but not exceeding
$44 billion,

.2275% of net assets in excess of $44 billion but not exceeding
$55 billion,

.2225% of net assets in excess of $55 billion but not exceeding
$71 billion,

.2175% of net assets in excess of $71 billion but not exceeding
$89 billion,

.2145% of net assets in excess of $89 billion but not exceeding
$116 billion,

.2115%
of net assets in excess of $116 billion.



(b)	Such fee shall
be accrued daily and the daily rate shall be computed based on the actual number of days per year. For the purposes hereof, the
net assets of the Fund shall be determined in the manner set forth in the agreement and declaration of trust and registration statement
of the Fund. The advisory fee shall be payable for the period commencing on the date on which operations of the Fund begin and
ending on the date of termination hereof and shall be prorated for any fraction of a month at the beginning or the termination
of such period.



5.	The right of the Investment Adviser
to receive such compensation, and the obligation of the Fund to pay the same, shall be subject to the following conditions: All







ordinary operating expenses of the Fund shall
in no event exceed in any fiscal year 1% of the average net assets of the Fund as annually determined. Costs incurred in connection
with the purchase or sale of portfolio securities, including brokerage fees and commissions, which are capitalized in accordance
with generally accepted accounting principles applicable to investment companies, shall be accounted for as capital items and not
as expenses. If all expenses (including compensation to the Investment Adviser) shall in any year exceed 1% of the average net
assets, then, to the extent of any excess, the compensation to the Investment Adviser shall be reduced or eliminated (as the case
may be), notwithstanding which the Investment Adviser will fully and faithfully perform all services required under the terms hereof.
The Board of Trustees of the Fund may in its discretion either withhold a portion of the compensation owed for services if it shall
appear to the Board that the total compensation for the year will be subject to year-end diminution, or recoup any excess compensation
at year end.



6.	The expense limitation described
in paragraph 5 shall apply only to Class A shares issued by the Fund and shall not apply to any other class(es) of shares the Fund
may issue in the future. Any new class(es) of shares issued by the Fund will not be subject to an expense limitation. However,
notwithstanding the foregoing, to the extent the Investment Adviser is required to reduce its investment advisory fee pursuant
to provisions contained in paragraph 5 due to the expenses of the Class A shares exceeding the stated limit, the reduction in the
fee will reduce the Fund’s investment advisory fee expense similarly for all other classes of shares of the Fund.



7.	This Agreement may be
terminated at any time, without payment of any penalty, by the Trustees of the Fund or by vote of a majority (within the meaning
of the 1940 Act) of the outstanding voting securities of the Fund, on sixty (60) days’ written notice to the Investment Adviser,
or by the Investment Adviser on like notice to the Fund. Unless sooner terminated in accordance with this provision, this Agreement
shall continue until August 31, 2015. It may thereafter be renewed from year to year by mutual consent, provided that such renewal
shall be specifically approved at least annually by the Board of Trustees of the Fund, or by vote of a majority (within the meaning
of the 1940 Act) of the outstanding voting securities of the Fund. In either event, any such renewal must be approved by a majority
of the Independent Trustees at a meeting called for the purpose of voting on such approval.



8.	This Agreement shall
not be assignable by either party hereto, and in the event of assignment (within the meaning of the 1940 Act) by the Investment
Adviser shall automatically be terminated forthwith.



9.	Nothing contained in
this Agreement shall be construed to prohibit the Investment Adviser from performing investment advisory, management, or distribution
services for other investment companies and other persons or companies, nor to prohibit affiliates of the Investment Adviser from
engaging in such businesses or in other related or unrelated businesses.



10.	The Investment Adviser
shall not be liable to the Fund or its shareholders for any error of judgment, for any mistake of law, for any loss arising out
of any investment or for any act, or omission not involving willful misfeasance, bad faith, gross negligence, or reckless disregard
of its obligations and duties hereunder.









11.	The obligations of
the Fund under this Agreement are not binding upon any of the Trustees, officers, employees, agents or shareholders of the Fund
individually, but bind only the Fund’s estate. The Investment Adviser agrees to look solely to the assets of the Fund for
the satisfaction of any liability in respect of the Fund under this Agreement and will not seek recourse against such Trustees,
officers, employees, agents or shareholders, or any of them, or any of their personal assets for such satisfaction.



12.	The Fund acknowledges
and agrees that the names, “American Funds” and “Capital” or any derivatives thereof or logo associated
with those names are the valuable property of the Investment Adviser and its affiliates, and that the Fund shall have the right
to use such names (or derivatives or logos) only so long as this Agreement shall continue in effect. Upon termination of this Agreement
the Fund shall forthwith cease to use such names (or derivatives or logos).













IN WITNESS WHEREOF, the parties
hereto have caused this instrument to be executed in duplicate original by their duly authorized officers.







|WASHINGTON MUTUAL
        INVESTORS FUND | CAPITAL RESEARCH AND
        MANAGEMENT COMPANY
|---------------------------------------- | -----------------------------------------------
|                                         |                                                
|By	/s/ Paul F. Roye                      | By	/s/ Timothy D. Armour                       
|Paul F. Roye                             | Timothy D. Armour                              
|Executive Vice President and             | President and                                  
|Principal Executive Officer              | Principal Executive Officer                    
|                                         |                                                
|By	/s/ Jennifer L. Butler                | By	/s/ Michael J. Downer                       
|Jennifer L. Butler                       | Michael J. Downer                              
|Secretary                                | Senior Vice President and Secretary