# EDGAR Filing Document

**Accession Number:** 0001757150
**File Stem:** 0000051931-23-000087
**Filing Date:** 2023-1
**Character Count:** 397419
**Document Hash:** fa25dd3b9ba7199d0ea83a93197ac282
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000051931-23-000087.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0000051931-23-000087

**CONFORMED SUBMISSION TYPE**: POS AMI

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capital Group Central Fund Series
- **CENTRAL INDEX KEY:** 0001757150
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** POS AMI
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23391
- **FILM NUMBER:** 23570844

**BUSINESS ADDRESS:**
- **STREET 1:** 6455 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** 213-486-9200

**MAIL ADDRESS:**
- **STREET 1:** 333 SOUTH HOPE STREET, 55TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Capital Group Central Fund Series (Capital Group Central Cash Fund)
- **DATE OF NAME CHANGE:** 20181102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Capital Group Central Fund Series - Capital Group Central Cash Fund
- **DATE OF NAME CHANGE:** 20181025

## Series and Classes Contracts Data

### Capital Group Central Cash Fund (Series ID: S000064714)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000209656 | Class M      | CMQXX           |

SEC. File No. 811-23391

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM N-1A**

Registration Statement

Under

the Investment Company Act of 1940

Amendment No. 5

**CAPITAL GROUP CENTRAL FUND SERIES**

(Exact Name of Registrant as Specified in Charter)

6455 Irvine Center Drive

Irvine, California 92618-4518

(Address of Principal Executive Offices)

Registrant's telephone number, including area code:

(213) 486-9200

***Steven I. Koszalka***

***Capital Group Central Fund Series***

*333 South Hope Street*

*Los Angeles, California 90071-1406*

*(Name and Address of Agent for Service)*

 

 

Copies to:

***Lea Anne Copenhefer***

***Morgan, Lewis & Bockius LLP***

*One Federal Street*

*Boston, MA 02110-1726*

*(Counsel for the Registrant)*

---

| | |
|:---|:---|
| **Capital Group<br> Central Cash Fund** <br> Registration Statement Part A <br> February 1, 2023  | ![](img_001.jpg) |

---

<br> <u>Class</u> <u>M</u> <br> CMQXX

Table of contents

---

| | |
|:---|:---|
| [Investment objective](#a1) | [1](#a1) |
| [Fees and expenses of the fund](#a2) | [1](#a2) |
| [Investment strategies and risks](#a3) | [2](#a3) |
| [Management and organization](#a4) | [8](#a4) |
| [Purchase and sale of shares](#a5) | [9](#a5) |
| [How to sell shares](#a6) | [10](#a6) |
| [Dividends and taxes](#a7) | [11](#a7) |
| [Financial highlights](#a8) | [12](#a8) |

---

**This registration statement has been filed pursuant to Section 8(b) of the Investment Company Act of 1940, as amended ("1940 Act"). However, shares of the fund are not being registered under the Securities Act of 1933, as amended ("1933 Act"), because the shares will be issued solely in private placement transactions that do not involve any "public offering" within the meaning of Section 4(a)(2) of the 1933 Act. Investments in the fund may be made only by certain institutional investors, including investment companies and certain other investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Shares of the fund are restricted securities and cannot be transferred or resold without registration under the 1933 Act or an available exemption from registration under the 1933 Act. This registration statement does not constitute an offer to sell, or the solicitation of an offer to buy, any shares of the fund.**

------

Investment objective The fund is an institutional money market fund managed pursuant to rule 2a-7 under the 1940 Act. The investment objective of the fund is to provide you with a way to earn income on your cash reserves while preserving capital and maintaining liquidity. The net asset value of the fund's shares will "float," fluctuating with changes in the value of the fund's portfolio securities. Shares of the fund are currently only available for investment by (a) other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates and (b) the fund's investment adviser and its affiliates. Shares of the fund are not available to the public.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund.

---

| | |
|:---|:---|
| **Shareholder fees** (fees paid directly from your investment) | **Shareholder fees** (fees paid directly from your investment) |
| Share class: | M |
| Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | none |
| Maximum deferred sales charge (load) (as a percentage of the amount redeemed) | none |
| Maximum sales charge (load) imposed on reinvested dividends | none |
| Redemption or exchange fees | none |

---

---

| | |
|:---|:---|
| **Annual fund operating expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual fund operating expenses** (expenses that you pay each year as a percentage of the value of your investment) |
| Share class: | M |
| Management fees |  |
| Distribution and/or service (12b-1) fees |  |
| Other expenses | 0.0004% |
| Total annual fund operating expenses | 0.0004 |

---

1&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund / Part A

------

Investment strategies and risks The fund will invest in high-quality, short-term money market instruments, including commercial paper and other short-term bank obligations, U.S. Treasury securities and other government securities guaranteed or issued by an agency or instrumentality of the U.S. government and repurchase agreements.

Repurchase agreements are agreements under which the fund purchases a security from a bank or broker-dealer and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased by the fund constitutes collateral for the seller's repurchase obligation, a repurchase agreement is effectively a loan by the fund that is collateralized by the security purchased. The fund will only enter into repurchase agreements involving securities of the type (excluding any maturity limitations) in which it could otherwise invest. In practice, the fund expects to enter only into repurchase agreements that are fully collateralized by cash or U.S. government securities.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to provide current income while preserving capital and maintaining liquidity. The investment adviser believes that an important way to accomplish this is by analyzing various factors, including the credit strength of the issuer, prices of similar securities issued by comparable issuers, current and anticipated changes in interest rates, general market conditions and other factors pertinent to the particular security being evaluated.

While it has no present intention to do so, the fund's board may change the fund's objective without shareholder approval upon 60 days' written notice to shareholders.

In accordance with applicable rules and regulations relating to money market funds, the fund will maintain a dollar-weighted average maturity of 60 days or less and its dollar-weighted average life will not exceed 120 days. Additionally, the fund will hold at least 10% of its total assets in daily liquid assets and at least 30% of its total assets in weekly liquid assets. For purposes of these limits, daily liquid assets and weekly liquid assets are generally defined to include cash, U.S. Treasuries, certain other government securities, as well as other securities that can be readily converted to cash within one or five business days, respectively.

*Floating net asset value* – As an institutional money market fund, the fund does not maintain a constant net asset value per share of $1.00. Rule 2a-7 of the 1940 Act requires institutional money market funds to transact at a market-based net asset value calculated to four decimal places or an equivalent value for the fund depending on the share price (e.g., $10.000 or $100.00). Accordingly the fund's net asset value will vary as a result of changes in the value of the securities in which the fund invests.

*Liquidity fee and redemption gate* – Liquidity fees are designed to transfer the costs of liquidating securities from shareholders who remain in the fund to those who leave the fund during periods when liquidity is limited. There are two types of liquidity fees: discretionary liquidity fees and default liquidity fees. If the fund's weekly liquid assets fall below 10% of its total assets at the end of any business day, the next business day the fund is required to impose a default liquidity fee of 1% on all redemptions unless the board determines that (a) the fee is not in the best interest of the fund or (b) a lesser or higher fee (up to 2%) is in the best interest of the fund. If the fund's weekly liquid assets fall below 30% of its total assets, the fund may impose a discretionary liquidity fee of up

Capital Group Central Cash Fund / Part A&nbsp;&nbsp;&nbsp;&nbsp; 2

------

to 2% on all redemptions, as early as the same day, if the fund's board determines that it is in the best interest of the fund. Once the fund has restored its weekly liquid assets to 30% of total assets, any liquidity fee must be suspended. Any liquidity fees paid by shareholders are retained by the fund for the benefit of the remaining shareholders and may be used to maintain the fund's liquidity and satisfy redemption requests from the fund.

In lieu of the discretionary liquidity fee, the fund is permitted to temporarily implement a redemption gate (i.e., suspend redemptions) if the fund's weekly liquid assets fall below 30% of its total assets. The gate can remain in effect for no longer than 10 business days in any 90-day period. Once the fund has restored its weekly liquid assets to 30% of total assets, the gate must be lifted. The board may also determine that it would not be in the interests of the fund to continue operating if the fund's weekly liquid assets fall below 10% of its total assets. In the event that the board approves liquidation of the fund under these circumstances, the fund may permanently suspend redemptions and liquidate.

If the fund imposes a redemption gate, unprocessed redemption requests will be canceled and the fund will not accept redemption requests until the fund has notified shareholders that the redemption gate is no longer in effect. If you redeem your shares when the fund has imposed a liquidity fee, then the amount you receive for your redemption will be reduced by the amount of the liquidity fee and will generally cause you to recognize a loss for tax purposes equal to the amount of that fee.

Notices regarding the imposition and lifting of liquidity fees or redemption gates will be filed with the SEC on Form N-CR. In addition, announcements will also be made in amendments to the fund's registration statement and on the fund's website.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

3&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund / Part A

------

The following are principal risks associated with investing in the fund.

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline – sometimes rapidly or unpredictably – due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund's investments may be negatively affected by developments in other countries and regions.

*Investing outside the United States* — The fund invests in commercial paper and other short-term bank obligations that are issued by entities domiciled outside the United States, or with significant operations or revenues outside the United States. Such securities may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers operate or generate revenue. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*Investing in cash equivalents* **—** Cash equivalents, such as commercial paper, asset-backed commercial paper, short term-bank obligations and corporate bonds and notes that mature or may be redeemed or mature within thirteen months or less, like other fixed income instruments are subject to interest rate risk. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper is often unsecured, but may be supported by letters of credit or other forms of collateral. Maturing commercial paper are usually repaid by the issuer from the proceeds of new commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. As with all fixed income securities, there is a chance that the issuer will default on its short-term obligations and these securities may become illiquid or suffer from reduced liquidity in these or other situations.

Capital Group Central Cash Fund / Part A&nbsp;&nbsp;&nbsp;&nbsp; 4

------

*Investing in securities backed by the U.S. government* — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government. U.S. government securities are subject to market risk, interest rate risk and credit risk.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Investing in repurchase agreements* — Upon entering into a repurchase agreement, the fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund's cost with interest. The security purchased by the fund constitutes collateral for the seller's repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also incur disposition costs and encounter procedural delays in connection with liquidating the collateral.

*Financial services risk* — A significant portion of the fund's portfolio may be comprised of securities issued by companies in the financial services industry. As a result, the fund may be more susceptible to any economic, business, political or other developments which generally affect this industry sector. The profitability of many types of financial companies may be adversely affected in certain market cycles, including during periods of rising interest rates, which may restrict the availability and increase the cost of capital, and declining economic conditions, which may cause credit losses due to financial difficulties of borrowers. Because many types of financial services companies are vulnerable to these economic cycles, the fund's investments may lose value during such periods.

*Management* — The investment adviser to the fund actively manages the fund's investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results.

5&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund / Part A

------

The following are additional risks associated with investing in the fund.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure to the financial services industry as described above or in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified. All securities held by the fund will be denominated in U.S. dollars.

*Large shareholder transactions risk* — The fund may experience adverse effects when shareholders purchase or redeem large amounts of shares of the fund. Such large shareholder redemptions may cause the fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the fund's net asset value and liquidity. Similarly, large fund share purchases may adversely affect the fund's performance to the extent that the fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the fund's current expenses being allocated over a smaller asset base, leading to an increase in the fund's expense ratio.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries, experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

Capital Group Central Cash Fund / Part A&nbsp;&nbsp;&nbsp;&nbsp; 6

------

In addition to the investment strategies described above, the fund has other investment practices that are described in Part B of the fund's registration statement, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in Part B of the fund's registration statement.

You could lose money by investing in the fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the fund's liquidity falls below a required minimum because of market conditions or other factors. An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will do so at any time.

**Portfolio holdings** Portfolio holdings information for the fund will be available on the fund's website at capitalgroup.com/cmqxx. A description of the fund's policies and procedures regarding disclosure of information about its portfolio holdings is available in Part B of the fund's registration statement.

7&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund / Part A

------

Management and organization

**Investment adviser** Capital Research and Management Company, an experienced investment management organization founded in 1931, serves as the investment adviser to the fund and other funds, including the American Funds. Capital Research and Management Company is a wholly owned subsidiary of The Capital Group Companies, Inc. and is located at 333 South Hope Street, Los Angeles, California 90071. Capital Research and Management Company manages the investment portfolio and business affairs of the fund. The fund does not pay any management fee to its investment adviser. A more detailed description of the Investment Advisory and Service Agreement between the fund and the investment adviser is included in Part B of the fund's registration statement.

Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions — Capital International Investors, Capital Research Global Investors and Capital World Investors — make investment decisions independently of one another.

The equity investment divisions may, in the future, be incorporated as wholly owned subsidiaries of Capital Research and Management Company. In that event, Capital Research and Management Company would continue to be the investment adviser, and day-to-day investment management of equity assets would continue to be carried out through one or more of these subsidiaries. Although not currently contemplated, Capital Research and Management Company could incorporate its fixed income investment division in the future and engage it to provide day-to-day investment management of fixed income assets. Capital Research and Management Company and each of the funds it advises have received an exemptive order from the U.S. Securities and Exchange Commission that allows Capital Research and Management Company to use, upon approval of the fund's board, its management subsidiaries and affiliates to provide day-to-day investment management services to the fund, including making changes to the management subsidiaries and affiliates providing such services. The fund's shareholders have approved this arrangement; however, there is no assurance that Capital Research and Management Company will incorporate its investment divisions or exercise any authority granted to it under the exemptive order.

**Fund expenses** The fund bears expenses incurred in connection with the day-to-day fund operations, including, but not limited, to expenses associated with the audit, custodian, administrative and transfer agent services provided to the fund.

Capital Group Central Cash Fund / Part A&nbsp;&nbsp;&nbsp;&nbsp; 8

------

Purchase and sale of shares

**Purchase of Class M shares** Class M shares are available for purchase only by (a) other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates and (b) the fund's investment adviser and its affiliates. Shares of the fund are not available to the public. The fund may accept securities in-kind in exchange for shares of the fund in accordance with the fund's policy and procedures relating to in-kind purchase transactions.

**Valuing shares** The net asset value of each share class of the fund is the value of a single share of that class. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. If the New York Stock Exchange makes a scheduled (e.g. the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the net asset value of the fund will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New York Stock Exchange, those later market quotations and prices will be used in determining the fund's net asset value. The fund may also calculate its share price on days the New York Stock Exchange is closed, consistent with applicable regulatory guidance.

Assets are valued primarily on the basis of evaluated prices from third-party pricing services. However, the fund's portfolio investments are valued in accordance with procedures for making fair value determinations if evaluated prices are not readily available or are not considered reliable.

As an institutional money market fund, the fund's initial net asset value of $100.00 is calculated to two decimal places. The fund follows standard industry practice by typically reflecting changes in its holdings of portfolio securities on the first business day following a portfolio trade.

Your shares will be purchased at the net asset value or sold at the net asset value next determined after American Funds Service Company receives your request, provided that your request contains all information and legal documentation necessary to process the transaction. Orders in good order received after the New York Stock Exchange closes (scheduled or unscheduled) will be processed at the net asset value (plus any applicable sales charge) calculated on the following business day.

**Distributor** American Funds Distributors, Inc. serves as the distributor ("distributor") of the fund shares. The distributor does not receive any compensation from the fund for the distribution services.

9&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund / Part A

------

How to sell shares

You may sell (redeem) shares by notifying American Funds Services Company.

The fund typically expects to remit redemption proceeds within one business day following receipt and acceptance of a redemption order. However, payment may take longer than one business day and may take up to seven days as generally permitted by the 1940 Act. Under the 1940 Act, the fund may be permitted to pay redemption proceeds beyond seven days under certain limited circumstances.

Under normal conditions, the fund typically expects to meet shareholder redemptions by monitoring the fund's portfolio and redemption activities and by regularly holding a reserve of highly liquid assets, such as cash or cash equivalents. The fund may use additional methods to meet shareholder redemptions, if they become necessary. These methods may include, but are not limited to, the sale of portfolio assets, the use of overdraft protection afforded by the fund's custodian bank, borrowing from a line of credit or from other funds advised by the investment adviser or its affiliates, and making payment with fund securities or other fund assets rather than in cash (as further discussed in the following paragraph).

Although payment of redemptions normally will be in cash, the fund's declaration of trust permits payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund's board of trustees. On the same redemption date, some shareholders may be paid in whole or in part in securities (which may differ among those shareholders), while other shareholders may be paid entirely in cash. In general, in-kind redemptions to affiliated shareholders will as closely as practicable represent the affiliated shareholder's pro rata share of the fund's securities, subject to certain exceptions. Securities distributed in-kind to unaffiliated shareholders will be selected by the investment adviser in a manner the investment adviser deems to be fair and reasonable to the fund's shareholders. The disposal of the securities received in-kind may be subject to brokerage costs and, until sold, such securities remain subject to market risk and liquidity risk, including the risk that such securities are or become difficult to sell. If the fund pays your redemption with illiquid or less liquid securities, you will bear the risk of not being able to sell such securities.

Shares of the fund are not transferrable.

**Frequent trading of fund shares** The fund and the distributor reserve the right to reject any purchase order for any reason. Frequent trading of fund shares may lead to increased costs to the fund and less efficient management of the fund's portfolio, potentially resulting in dilution of the value of the shares held by long-term shareholders. The investment adviser anticipates that fund shares may be purchased and sold frequently because a money market fund is designed to offer a liquid investment option. Accordingly, the board has not adopted policies and procedures designed to detect and deter excessive trading of fund shares.

Capital Group Central Cash Fund / Part A&nbsp;&nbsp;&nbsp;&nbsp; 10

------

Dividends and taxes

**Dividends** The fund declares daily dividends from net investment income and distributes the accrued dividends, which may fluctuate, to you each month. Generally, dividends begin accruing on the day after payment for shares is received by the fund or American Funds Service Company.

Dividends declared and paid by the fund will be automatically reinvested to purchase additional shares of this fund.

**Taxes** For federal income tax purposes, dividends and capital gain distributions you receive from the fund will be subject to federal income taxes, and also may be subject to state or local taxes — unless you are tax-exempt or your account is tax-favored. Because the fund's net asset value floats, a sale of fund shares may result in a capital gain or loss for you. Accordingly, you may have a capital gain to report as income, or a capital loss to report as a deduction, when you complete your tax return. Part B of the fund's registration statement contains more information regarding the different methods available to you for calculating this gain or loss.

**Fees** Fees and expenses borne directly by the fund normally have the effect of reducing a shareholder's taxable income on distributions.

**Please see your tax advisor for more information.**

11&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund / Part A

------

Financial highlights

The Financial Highlights table is intended to help you understand the fund's results for the last fiscal year. Certain information reflects financial results for a single share. The total returns in the table represent the rate that an investor would have earned or lost on an investment in the fund (assuming reinvestment of all dividends). The information in the Financial Highlights table has been audited by PricewaterhouseCoopers LLP, whose current report, along with the fund's financial statements, is included in the Part B of the registration statement, which is available upon request.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income from** <br>**investment operations<sup>1</sup>** | **Income from** <br>**investment operations<sup>1</sup>** | **Income from** <br>**investment operations<sup>1</sup>** | | | | | | |
| Year ended | Net asset <br>value,<br>beginning<br>of year | Net <br>investment<br>income | Net (losses) <br>gains on<br>securities <br>(both<br>realized and<br>unrealized) | Total from <br>investment<br>operations | Dividends <br>(from net<br>investment<br>income) | Net asset <br>value,<br>end<br>of year | Total <br>return | Net assets, <br>end of year<br>(in millions) | Ratio of <br>expenses<br>to average<br>net assets | Ratio of <br>net income<br>to average<br>net assets |
| **Class M:** |  |  |  |  |  |  |  |  |  |  |
| 10/31/2022 | $100.00 | $1.21 | $(.21) | $1.00 | $(1.02) | $99.98 | 1.01% | $184777 | —%<sup>2</sup> | 1.21% |
| 10/31/2021 | 100.01 | .08 | (.01) | .07 | (.08) | 100.00 | .06 | 112467 | —<sup>2</sup> | .08 |
| 10/31/2020 | 100.01 | .77 | .06 | .83 | (.83) | 100.01 | .83 | 120503 | —<sup>2</sup> | .77 |
| 10/31/2019<sup>3, 4</sup> | 100.00 | 1.60 | .01 | 1.61 | (1.60) | 100.01 | 1.62<sup>5</sup> | 119761 | —<sup>2, 6</sup> | 2.31<sup>6</sup> |

---

<sup>1</sup>Based on average shares outstanding.

<sup>2</sup>Amount less than .01%.

<sup>3</sup>Based on operations for a period that is less than a full year.

<sup>4</sup>Class M shares began investment operations on February 22, 2019.

<sup>5</sup>Not annualized.

<sup>6</sup>Annualized.

<br> Capital Group Central Cash Fund / Part A&nbsp;&nbsp;&nbsp;&nbsp; 12

------

MFGEPRX-129-0223 <br>Litho in USA CGD/AFD/10512<br>Investment Company File No. 811-23391

------

 **Capital Group Central Fund Series** 

#### (Capital Group Central Cash Fund)
Part B<br> Registration Statement

February 1, 2023

This document is not a prospectus but Part B of the registration statement of Capital Group Central Fund Series (Capital Group Central Cash Fund) (the "fund") which should be read in conjunction with Part A of the fund's registration statement dated February 1, 2023. You may obtain Part A and Part B of the registration statement by calling American Funds Service Company<sup>®</sup> at (800) 421-4225 or by writing to the fund at the following address:

Capital Group Central Fund Series

(Capital Group Central Cash Fund)<br> Attention: Secretary

333 South Hope Street<br> Los Angeles, California 90071

<br> Class M CMQXX

**Table of Contents**

<br> <u>Item</u> <u>Page no.</u>

---

| | |
|:---|:---|
| Certain investment limitations and guidelines | 2.0 |
| Description of certain securities, investment techniques and risks | 3.0 |
| Fund policies | 9.0 |
| Management of the fund | 11.0 |
| Execution of portfolio transactions | 26.0 |
| Disclosure of portfolio holdings | 29.0 |
| Price of shares | 31.0 |
| Taxes and distributions | 33.0 |
| Purchase and exchange of shares | 35.0 |
| Selling shares | 36.0 |
| Shareholder account services and privileges | 37.0 |
| General information | 38.0 |
| Appendix | 40.0 |

---

Investment portfolio<br> Financial statements

Capital Group Central Cash Fund — Page 1

------

 **Certain investment limitations and guidelines**

The following limitations and guidelines are considered at the time of purchase, under normal circumstances, and are based on a percentage of the fund's net assets unless otherwise noted. This summary is not intended to reflect all of the fund's investment limitations.

#### Maturity
· The fund will maintain a dollar-weighted average portfolio maturity of 60 days or less.

· The fund will maintain the dollar-weighted average life of its portfolio at 120 days or less.

· For purposes of determining the weighted average maturity (but not the weighted average life) of the fund's portfolio, certain variable and floating rate obligations and securities with put options which may otherwise have stated or final maturities in excess of 397 days will be deemed to have remaining maturities equal to the period remaining until each next readjustment of the interest rate or until the fund is entitled to repayment or repurchase of the security.

**<u>Liquidity</u>**

· The fund may not acquire illiquid securities if, immediately after the acquisition, the fund would have invested more than 5% of its total assets in illiquid securities.

· The fund will hold at least 10% of its total assets in daily liquid assets (i.e., cash, direct obligations of the U.S. Government or securities that mature or are subject to a demand feature that is exercisable or payable within one business day).

· The fund will hold at least 30% of its total assets in weekly liquid assets (i.e., cash, direct obligations of the U.S. Government, government securities issued by an instrumentality of the U.S. Government that are issued at a discount and have a remaining maturity of 60 days or less, or securities that mature or are subject to a demand feature that is exercisable or payable within five business days).

#### \* \* \* \* \* \*
The fund may experience difficulty liquidating certain portfolio securities during significant market declines or periods of heavy redemptions.

Capital Group Central Cash Fund — Page 2

------

 **Description of certain securities, investment techniques and risks**

The descriptions below are intended to supplement the material in Part A of the fund's registration statement under "Investment strategies and risks."

**Market conditions –** The value of, and the income generated by, the securities in which the fund invests may decline, sometimes rapidly or unpredictably, due to factors affecting certain issuers, particular industries or sectors, or the overall markets. Rapid or unexpected changes in market conditions could cause the fund to liquidate its holdings at inopportune times or at a loss or depressed value. The value of a particular holding may decrease due to developments related to that issuer, but also due to general market conditions, including real or perceived economic developments such as changes in interest rates, credit quality, inflation, or currency rates, or generally adverse investor sentiment. The value of a holding may also decline due to factors that negatively affect a particular industry or sector, such as labor shortages, increased production costs, or competitive conditions.

Global economies and financial markets are highly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. Furthermore, local, regional and global events such as war, acts of terrorism, social unrest, natural disasters, the spread of infectious illness or other public health threats could also adversely impact issuers, markets and economies, including in ways that cannot necessarily be foreseen. The fund could be negatively impacted if the value of a portfolio holding were harmed by such conditions or events.

Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Market disruptions may exacerbate political, social, and economic risks. Additionally, market disruptions may result in increased market volatility; regulatory trading halts; closure of domestic or foreign exchanges, markets, or governments; or market participants operating pursuant to business continuity plans for indeterminate periods of time. Such events can be highly disruptive to economies and markets and significantly impact individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the fund's investments and operation of the fund. These events could disrupt businesses that are integral to the fund's operations or impair the ability of employees of fund service providers to perform essential tasks on behalf of the fund.

Governmental and quasi-governmental authorities may take a number of actions designed to support local and global economies and the financial markets in response to economic disruptions. Such actions may include a variety of significant fiscal and monetary policy changes, including, for example, direct capital infusions into companies, new monetary programs and significantly lower interest rates. These actions may result in significant expansion of public debt and may result in greater market risk. Additionally, an unexpected or quick reversal of these policies, or the ineffectiveness of these policies, could negatively impact overall investor sentiment and further increase volatility in securities markets.

**Debt instruments —** Debt securities, also known as "fixed income securities," are used by issuers to borrow money. Bonds, notes, debentures, asset-backed securities (including those backed by mortgages), and loan participations and assignments are common types of debt securities. Generally, issuers pay investors periodic interest and repay the amount borrowed either periodically during the life of the security and/or at maturity. Some debt securities, such as zero coupon bonds, do not pay current interest, but are purchased at a discount from their face values and their values accrete over time to face value at maturity. Some debt securities bear interest at rates that are not fixed, but that vary with changes in specified market rates or indices. The market prices of debt securities fluctuate depending on such factors as interest rates, credit quality and maturity. In general, market prices of debt securities decline when interest rates rise and increase when interest rates fall. These fluctuations

Capital Group Central Cash Fund — Page 3

------

will generally be greater for longer-term debt securities than for shorter-term debt securities. Prices of these securities can also be affected by financial contracts held by the issuer or third parties (such as derivatives) relating to the security or other assets or indices. Borrowers that are in bankruptcy or restructuring may never pay off their indebtedness, or they may pay only a small fraction of the amount owed. Direct indebtedness of countries, particularly developing countries, also involves a risk that the governmental entities responsible for the repayment of the debt may be unable, or unwilling, to pay interest and repay principal when due.

Credit ratings for debt securities provided by rating agencies reflect an evaluation of the safety of principal and interest payments, not market value risk. The rating of an issuer is a rating agency's view of past and future potential developments related to the issuer and may not necessarily reflect actual outcomes. There can be a lag between the time of developments relating to an issuer and the time a rating is assigned and updated. The investment adviser considers these ratings of securities as one of many criteria in making its investment decisions.

Bond rating agencies may assign modifiers (such as +/–) to ratings categories to signify the relative position of a credit within the rating category. Investment policies that are based on ratings categories should be read to include any security within that category, without giving consideration to the modifier except where otherwise provided. See the Appendix to this Part B of the fund's registration statement for more information about credit ratings.

**Obligations backed by the "full faith and credit" of the U.S. government —** U.S. government obligations include the following types of securities:

**U.S. Treasury securities —** U.S. Treasury securities include direct obligations of the U.S. Treasury, such as Treasury bills, notes and bonds. For these securities, the payment of principal and interest is unconditionally guaranteed by the U.S. government, and thus they are of high credit quality. Such securities are subject to variations in market value due to fluctuations in interest rates and in government policies, but, if held to maturity, are expected to be paid in full (either at maturity or thereafter).

**Federal agency securities —** The securities of certain U.S. government agencies and government-sponsored entities are guaranteed as to the timely payment of principal and interest by the full faith and credit of the U.S. government. Such agencies and entities include, but are not limited to, the Federal Financing Bank ("FFB"), the Government National Mortgage Association ("Ginnie Mae"), the U.S. Department of Veterans Affairs ("VA"), the Federal Housing Administration ("FHA"), the Export-Import Bank of the United States ("Exim Bank"), the U.S. International Development Finance Corporation ("DFC"), the Commodity Credit Corporation ("CCC") and the U.S. Small Business Administration ("SBA").

**Other federal agency obligations —** Additional federal agency securities are neither direct obligations of, nor guaranteed by, the U.S. government. These obligations include securities issued by certain U.S. government agencies and government-sponsored entities. However, they generally involve some form of federal sponsorship: some operate under a congressional charter; some are backed by collateral consisting of "full faith and credit" obligations as described above; some are supported by the issuer's right to borrow from the Treasury; and others are supported only by the credit of the issuing government agency or entity. These agencies and entities include, but are not limited to: the Federal Home Loan Banks, the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the Federal National Mortgage Association ("Fannie Mae"), the Tennessee Valley Authority and the Federal Farm Credit Bank System.

In 2008, Freddie Mac and Fannie Mae were placed into conservatorship by their new regulator, the Federal Housing Finance Agency ("FHFA"). Simultaneously, the U.S. Treasury made a commitment of

Capital Group Central Cash Fund — Page 4

------

indefinite duration to maintain the positive net worth of both firms. As conservator, the FHFA has the authority to repudiate any contract either firm has entered into prior to the FHFA's appointment as conservator (or receiver should either firm go into default) if the FHFA, in its sole discretion determines that performance of the contract is burdensome and repudiation would promote the orderly administration of Fannie Mae's or Freddie Mac's affairs. While the FHFA has indicated that it does not intend to repudiate the guaranty obligations of either entity, doing so could adversely affect holders of their mortgage-backed securities. For example, if a contract were repudiated, the liability for any direct compensatory damages would accrue to the entity's conservatorship estate and could only be satisfied to the extent the estate had available assets. As a result, if interest payments on Fannie Mae or Freddie Mac mortgage-backed securities held by the fund were reduced because underlying borrowers failed to make payments or such payments were not advanced by a loan servicer, the fund's only recourse might be against the conservatorship estate, which might not have sufficient assets to offset any shortfalls.

The FHFA, in its capacity as conservator, has the power to transfer or sell any asset or liability of Fannie Mae or Freddie Mac. The FHFA has indicated it has no current intention to do this; however, should it do so a holder of a Fannie Mae or Freddie Mac mortgage-backed security would have to rely on another party for satisfaction of the guaranty obligations and would be exposed to the credit risk of that party.

Certain rights provided to holders of mortgage-backed securities issued by Fannie Mae or Freddie Mac under their operative documents may not be enforceable against the FHFA, or enforcement may be delayed during the course of the conservatorship or any future receivership. For example, the operative documents may provide that upon the occurrence of an event of default by Fannie Mae or Freddie Mac, holders of a requisite percentage of the mortgage-backed security may replace the entity as trustee. However, under the Federal Housing Finance Regulatory Reform Act of 2008, holders may not enforce this right if the event of default arises solely because a conservator or receiver has been appointed.

**Repurchase agreements —** The fund may enter into repurchase agreements, or "repos", under which the fund buys a security and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased constitutes collateral for the repurchase obligation, a repo may be considered a loan by the fund that is collateralized by the security purchased. Repos permit the fund to maintain liquidity and earn income over periods of time as short as overnight.

The seller must maintain with a custodian collateral equal to at least the repurchase price, including accrued interest. In tri-party repos, a third party custodian, called a clearing bank, facilitates repo clearing and settlement, including by providing collateral management services. However, as an alternative to tri-party repos, the fund could enter into bilateral repos, where the parties themselves are responsible for settling transactions.

The fund will only enter into repos involving securities of the type (excluding any maturity limitations) in which it could otherwise invest. If the seller under the repo defaults, the fund may incur a loss if the value of the collateral securing the repo has declined and may incur disposition costs and delays in connection with liquidating the collateral. If bankruptcy proceedings are commenced with respect to the seller, realization of the collateral by the fund may be delayed or limited.

**Commercial paper —** The fund may purchase commercial paper. Commercial paper refers to short-term promissory notes issued by a corporation to finance its current operations. Such securities normally have maturities of thirteen months or less and, though commercial paper is often unsecured, commercial paper may be supported by letters of credit, surety bonds or other forms of collateral. Maturing commercial paper issuances are usually repaid by the issuer from the proceeds of new

Capital Group Central Cash Fund — Page 5

------

commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. Like all fixed income securities, commercial paper prices are susceptible to fluctuations in interest rates. If interest rates rise, commercial paper prices will decline and vice versa. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper tends to yield smaller returns than longer-term corporate debt because securities with shorter maturities typically have lower effective yields than those with longer maturities. As with all fixed income securities, there is a chance that the issuer will default on its commercial paper obligations and commercial paper may become illiquid or suffer from reduced liquidity in these or other situations.

Commercial paper in which the fund may invest includes commercial paper issued in reliance on the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the "1933 Act"). Section 4(a)(2) commercial paper has substantially the same price and liquidity characteristics as commercial paper generally, except that the resale of Section 4(a)(2) commercial paper is limited to institutional investors who agree that they are purchasing the paper for investment purposes and not with a view to public distribution. Technically, such a restriction on resale renders Section 4(a)(2) commercial paper a restricted security under the 1933 Act. In practice, however, Section 4(a)(2) commercial paper typically can be resold as easily as any other unrestricted security held by the fund. Accordingly, Section 4(a)(2) commercial paper has been generally determined to be liquid under procedures adopted by the fund's board of trustees.

**Short-term bank obligations —** Certificates of deposit (interest-bearing time deposits), bank notes, bankers' acceptances (time drafts drawn on a commercial bank where the bank accepts an irrevocable obligation to pay at maturity) representing direct or contingent obligations of commercial banks. Commercial banks issuing obligations in which the fund invests must be on an approved list that is monitored on a regular basis.

**Variable and floating rate obligations —** The interest rates payable on certain securities and other instruments in which the fund may invest may not be fixed but may fluctuate based upon changes in market interest rates or credit ratings. Variable and floating rate obligations bear coupon rates that are adjusted at designated intervals, based on the then current market interest rates or credit ratings. The rate adjustment features tend to limit the extent to which the market value of the obligations will fluctuate. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares.

The London Interbank Offered Rate ("LIBOR") is one of the most widely used interest rate benchmarks and is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. On July 27, 2017, the U.K. Financial Conduct Authority ("FCA"), which regulates LIBOR, announced that the FCA will no longer persuade or compel banks to submit rates for the calculation of LIBOR after 2021. Subsequently, the FCA and ICE Benchmark Administration, Limited (IBA), the administrator of LIBOR, announced that the publication of the one-week and two-month USD LIBOR maturities and non-USD LIBOR maturities will cease immediately after December 31, 2021, with the remaining USD LIBOR maturities ceasing immediately after June 30, 2023. The one, three, and six-month US dollar LIBOR settings will continue to be published under a synthetic methodology for a temporary period until September 30, 2024 for certain legacy contracts. As a result, LIBOR may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on certain loans, bonds, derivatives and other instruments in the fund's portfolio.

Public and private sector industry initiatives have been underway to identify new or alternative reference rates to be used in place of LIBOR. In the US, the Alternative Reference Rates Committee

Capital Group Central Cash Fund — Page 6

------

(ARCC), a group of market participants convened to help ensure a successful transition away from USD LIBOR, has identified the Secured Overnight Financing Rate ("SOFR"), which is intended to be a broad measure of secured overnight U.S. Treasury repo rates, as its preferred alternative rate. Working groups and regulators in other countries have suggested other alternative rates for their markets. There is no assurance that the composition or characteristics of any such alternative reference rate will be similar to or produce the same value or economic equivalence as LIBOR or that instruments using an alternative rate will have the same volume or liquidity. This, in turn, may affect the value or return on certain of the fund's investments, result in costs incurred in connection with closing out positions and entering into new trades and reduce the effectiveness of related fund transactions such as hedges. Relatedly, there are outstanding contracts governing bonds and other instruments which reference LIBOR that are due to mature beyond the LIBOR cessation date. These "legacy contracts" will need to be transitioned to an alternative reference rate, and a failure to do so may adversely impact the security (for example, under existing contract language the instrument could fall back to a fixed rate or have no fallback rate) and create contractual uncertainty, as well as market and litigation risk. Although there are ongoing efforts among certain government entities and other organizations to address these uncertainties, the ultimate effectiveness of such efforts is not yet known. These risks may also apply with respect to potential changes in connection with other interbank offering rates (e.g., Euribor) and other indices, rates and values that may be used as "benchmarks" and are the subject of recent regulatory reform.

**Investing outside the U.S. —** Securities of issuers domiciled outside the United States, or with significant operations or revenues outside the United States, may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

**Cybersecurity risks —** With the increased use of technologies such as the Internet to conduct business, the fund has become potentially more susceptible to operational and information security risks through breaches in cybersecurity. In general, a breach in cybersecurity can result from either a deliberate attack or an unintentional event. Cybersecurity breaches may involve, among other things, "ransomware" attacks, injection of computer viruses or malicious software code, or the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices that are used directly or indirectly by the fund or its service providers through "hacking" or other means. Cybersecurity risks also include the risk of losses of service resulting from external attacks that do not require unauthorized access to the fund's systems, networks or devices. For example, denial-of-service attacks on the investment adviser's or an affiliate's website could effectively render the fund's network services unavailable to fund shareholders and other intended end-users. Any such cybersecurity breaches or losses of service may, among other things, cause the fund to lose proprietary information, suffer data corruption or lose operational capacity, or may result in the misappropriation, unauthorized release or other misuse of the fund's assets or sensitive information (including shareholder personal information or other confidential information), the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These, in turn, could cause the fund to violate applicable privacy and other laws and incur or suffer regulatory penalties, reputational damage, additional costs (including compliance costs) associated with corrective measures and/or financial loss. While the fund and its investment adviser have established business continuity plans and risk management systems designed to prevent or reduce the impact of cybersecurity attacks, there are inherent limitations in such plans and systems due in part to the ever-changing nature of technology and cybersecurity attack tactics, and there is a possibility that certain risks have not been adequately identified or prepared for.

Capital Group Central Cash Fund — Page 7

------

In addition, cybersecurity failures by or breaches of the fund's third-party service providers (including, but not limited to, the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries) may disrupt the business operations of the service providers and of the fund, potentially resulting in financial losses, the inability of fund shareholders to transact business with the fund and of the fund to process transactions, the inability of the fund to calculate its net asset value, violations of applicable privacy and other laws, rules and regulations, regulatory fines, penalties, reputational damage, reimbursement or other compensatory costs and/or additional compliance costs associated with implementation of any corrective measures. The fund and its shareholders could be negatively impacted as a result of any such cybersecurity breaches, and there can be no assurance that the fund will not suffer losses relating to cybersecurity attacks or other informational security breaches affecting the fund's third-party service providers in the future, particularly as the fund cannot control any cybersecurity plans or systems implemented by such service providers.

Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

**Inflation/Deflation risk —** The fund may be subject to inflation and deflation risk. Inflation risk is the risk that the present value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the fund's assets can decline. Deflation risk is the risk that prices throughout the economy decline over time. Deflation may have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of the fund's assets.

Capital Group Central Cash Fund — Page 8

------

 **Fund policies**

All percentage limitations in the following fund policies are considered at the time securities are purchased and are based on the fund's net assets unless otherwise indicated. None of the following policies involving a maximum percentage of assets will be considered violated unless the excess occurs immediately after, and is caused by, an acquisition by the fund. In managing the fund, the fund's investment adviser may apply more restrictive policies than those listed below.

**Fundamental policies —** The fund has adopted the following policies, which may not be changed without approval by holders of a majority of its outstanding shares. Such majority is currently defined in the Investment Company Act of 1940, as amended, as the vote of the lesser of (*a*) 67% or more of the voting securities present at a shareholder meeting, if the holders of more than 50% of the outstanding voting securities are present in person or by proxy, or (*b*) more than 50% of the outstanding voting securities.

1. Except as permitted by (*i*) the 1940 Act and the rules and regulations thereunder, or other successor law governing the regulation of registered investment companies, or interpretations or modifications thereof by the U.S. Securities and Exchange Commission ("SEC"), SEC staff or other authority of competent jurisdiction, or (*ii*) exemptive or other relief or permission from the SEC, SEC staff or other authority of competent jurisdiction, the fund may not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Borrow money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Issue senior securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Underwrite the securities of other issuers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Purchase or sell real estate or commodities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.Make loans; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.Purchase the securities of any issuer if, as a result of such purchase, the fund's investments would be concentrated in any particular industry, except that the fund may invest without limitation in U.S. government securities and certain bank instruments issued by domestic banks.

2. The fund may not invest in companies for the purpose of exercising control or management.

**Nonfundamental policies** — The following policies may be changed without shareholder approval:

1. The fund may not invest in securities of other investment companies, except as permitted by the 1940 Act.

2. The fund may not acquire securities of open-end investment companies or unit investment trusts registered under the 1940 Act in reliance on Sections 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

Capital Group Central Cash Fund — Page 9

------

**Additional information about fundamental policies** — The information below is not part of the fund's fundamental policies. This information is intended to provide a summary of what is currently required or permitted by the 1940 Act and the rules and regulations thereunder, or by the interpretive guidance thereof by the SEC or SEC staff, for particular fundamental policies of the fund. Information is also provided regarding the fund's current intention with respect to certain investment practices permitted by the 1940 Act.

For purposes of fundamental policy 1a, the fund may borrow money in amounts of up to 33-1/3% of its total assets from banks for any purpose. Additionally, the fund may borrow up to 5% of its total assets from banks or other lenders for temporary purposes (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). The percentage limitations in this policy are considered at the time of borrowing and thereafter.

For purposes of fundamental policy 1b, a senior security does not include any promissory note or evidence of indebtedness if such loan is for temporary purposes only and in an amount not exceeding 5% of the value of the total assets of the fund at the time the loan is made (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). Further, the fund is permitted to enter into derivatives and certain other transactions, notwithstanding the prohibitions and restrictions on the issuance of senior securities under the 1940 Act, in accordance with current SEC rules and interpretations.

For purposes of fundamental policy 1c, the policy will not apply to the fund to the extent the fund may be deemed an underwriter within the meaning of the 1933 Act in connection with the purchase and sale of fund portfolio securities in the ordinary course of pursuing its investment objectives and strategies.

For purposes of fundamental policy 1e, the fund may not lend more than 33-1/3% of its total assets, provided that this limitation shall not apply to the fund's purchase of debt obligations, money market instruments and repurchase agreements.

For purposes of fundamental policy 1f, the fund may not invest more than 25% of its total assets in the securities of issuers in a particular industry. This policy does not apply to investments in securities of the United States government, its agencies or instrumentalities, government sponsored enterprises and obligations of domestic banks (e.g., certificates of deposit, interest bearing time deposits, bank notes and banker's acceptances), or repurchase agreements with respect thereto. Bank instruments for the purposes of fundamental policy 1f include certain instruments issued by: (i) domestic banks (ii) United States branches of foreign banks subject to the same regulation as United States banks; and (iii) foreign branches of domestic banks whose domestic parent is unconditionally liable in the event that the foreign branch failed to pay on its instruments for any reason. The fund invests in such obligations using the investment criteria of, and in compliance with, rule 2a-7 under the 1940 Act. In evaluating and selecting such investments, the investment adviser, on behalf of the fund, uses the criteria set forth under the headings "Certain investment limitations and guidelines" and "Description of certain securities and investment techniques" in this Part B of the fund's registration statement.

Capital Group Central Cash Fund — Page 10

------

 **Management of the fund**

**Board of trustees and officers**

**Independent trustees<sup>1</sup>**

The fund's nominating and governance committee and board select independent trustees with a view toward constituting a board that, as a body, possesses the qualifications, skills, attributes and experience to appropriately oversee the actions of the fund's service providers, decide upon matters of general policy and represent the long-term interests of fund shareholders. In doing so, they consider the qualifications, skills, attributes and experience of the current board members, with a view toward maintaining a board that is diverse in viewpoint, experience, education and skills.

The fund seeks independent trustees who have high ethical standards and the highest levels of integrity and commitment, who have inquiring and independent minds, mature judgment, good communication skills, and other complementary personal qualifications and skills that enable them to function effectively in the context of the fund's board and committee structure and who have the ability and willingness to dedicate sufficient time to effectively fulfill their duties and responsibilities.

Each independent trustee has a significant record of accomplishments in governance, business, not-for-profit organizations, government service, academia, law, accounting or other professions. Although no single list could identify all experience upon which the fund's independent trustees draw in connection with their service, the following table summarizes key experience for each independent trustee. These references to the qualifications, attributes and skills of the trustees are pursuant to the disclosure requirements of the SEC, and shall not be deemed to impose any greater responsibility or liability on any trustee or the board as a whole. Notwithstanding the accomplishments listed below, none of the independent trustees is considered an "expert" within the meaning of the federal securities laws with respect to information in the fund's registration statement.

Capital Group Central Cash Fund — Page 11

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name, year of birth and position with fund (year first elected as a trustee<sup>2</sup>)** | **Principal** <br>**occupation(s)**<br>**during the**<br>**past five years** | **Number of** <br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other directorships<sup>3</sup> held by trustee** <br>**during the**<br>**past five years** | Other relevant experience |
| Francisco G. Cigarroa, MD <br>1957<br>Trustee (2021) | Professor of Surgery, University of Texas Health San Antonio; Trustee, Ford Foundation; Clayton Research Scholar, Clayton Foundation for Biomedical Research | 88 |  | · Corporate board experience <br> · Service on boards of community and nonprofit organizations <br> · MD  |
| Nariman Farvardin, 1956 <br>Trustee (2018) | President, Stevens Institute of Technology | 93 |  | · Senior management experience, educational institution <br> · Corporate board experience <br> · Professor, electrical and computer engineering <br> · Service on advisory boards and councils for educational, nonprofit and governmental organizations <br> · MS, PhD, electrical engineering  |
| Jennifer C. Feikin, 1968 <br>Trustee (2022) | Business Advisor; previously held positions at Google, AOL, 20th Century Fox and McKinsey & Company; Trustee, The Nature Conservancy of Utah; former Trustee, The Nature Conservancy of California | 97 | Hertz Global Holdings, Inc. | · Senior corporate management experience <br> · Corporate board experience <br> · Business consulting experience <br> · Service on advisory and trustee boards for charitable and nonprofit organizations <br> · JD  |

---

Capital Group Central Cash Fund — Page 12

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name, year of birth and position with fund (year first elected as a trustee<sup>2</sup>)** | **Principal** <br>**occupation(s)**<br>**during the**<br>**past five years** | **Number of** <br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other directorships<sup>3</sup> held by trustee** <br>**during the**<br>**past five years** | Other relevant experience |
| Leslie Stone Heisz, 1961 <br>Trustee (2022) | Former Managing Director, Lazard (retired, 2010); Director, Kaiser Permanente (California public benefit corporation); former Lecturer, UCLA Anderson School of Management | 97 | Edwards Lifesciences; Public Storage | · Senior corporate management experience, investment banking <br> · Business consulting experience <br> · Corporate board experience <br> · Service on advisory and trustee boards for charitable and nonprofit organizations <br> · MBA  |
| Mary Davis Holt, 1950 <br>Trustee (2018) | Principal, Mary Davis Holt Enterprises, LLC (leadership development consulting); former Partner, Flynn Heath Holt Leadership, LLC (leadership consulting); former COO, Time Life Inc. (1993–2003) | 89 |  | · Service as chief operations officer, global media company <br> · Senior corporate management experience <br> · Corporate board experience <br> · Service on advisory and trustee boards for educational, business and nonprofit organizations <br> · MBA  |
| Merit E. Janow, 1958 <br>Trustee (2018) | Dean Emerita and Professor of Practice, International Economic Law & International Affairs, Columbia University, School of International and Public Affairs | 99 | Aptiv (autonomous and green vehicle technology); Mastercard Incorporated <br> Former director of Trimble Inc. (software, hardware and services technology) (until 2021)  | · Service with Office of the U.S. Trade Representative and U.S. Department of Justice <br> · Corporate board experience <br> · Service on advisory and trustee boards for charitable, educational and nonprofit organizations <br> · Experience as corporate lawyer <br> · JD  |

---

Capital Group Central Cash Fund — Page 13

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name, year of birth and position with fund (year first elected as a trustee<sup>2</sup>)** | **Principal** <br>**occupation(s)**<br>**during the**<br>**past five years** | **Number of** <br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other directorships<sup>3</sup> held by trustee** <br>**during the**<br>**past five years** | Other relevant experience |
| Margaret Spellings, 1957 <br>Chair of the Board (Independent and Non-Executive) (2018) | President and CEO, Texas 2036; former President, Margaret Spellings & Company (public policy and strategic consulting); former President, The University of North Carolina | 93 |  | · Former U.S. Secretary of Education, U.S. Department of Education <br> · Former Assistant to the President for Domestic Policy, The White House <br> · Former senior advisor to the Governor of Texas <br> · Service on advisory and trustee boards for charitable and nonprofit organizations  |
| Alexandra Trower, 1964 <br>Trustee (2018) | Former Executive Vice President, Global Communications and Corporate Officer, The Estée Lauder Companies | 88 |  | · Service on trustee boards for charitable and nonprofit organizations <br> · Senior corporate management experience <br> · Branding  |
| Paul S. Williams, 1959 <br>Trustee (2020) | Former Partner/Managing Director, Major, Lindsey & Africa (executive recruiting firm) | 88 | Air Transport Services Group, Inc. (aircraft leasing and air cargo transportation); Compass Minerals, Inc. (producer of salt and specialty fertilizers); Public Storage, Inc. <br> Former director of Essendant, Inc. (business products wholesaler) (until 2019); Romeo Power, Inc. (manufacturer of batteries for electric vehicles) (until 2022)  | · Senior corporate management experience <br> · Corporate board experience <br> · Corporate governance experience <br> · Service on trustee boards for charitable and educational nonprofit organizations <br> · Securities law expertise <br> · JD  |

---

Capital Group Central Cash Fund — Page 14

------

**Interested trustee(s)**<sup>4,5</sup>

Interested trustees have similar qualifications, skills and attributes as the independent trustees. Interested trustees are senior executive officers and/or directors of Capital Research and Management Company or its affiliates. Such management roles with the fund's service providers also permit the interested trustees to make a significant contribution to the fund's board.

---

| | | | |
|:---|:---|:---|:---|
| **Name, year of birth** <br>**and position with fund**<br>**(year first elected**<br>**as a trustee/officer<sup>2</sup>)** | **Principal occupation(s)** <br>**during the**<br>**past five years**<br>**and positions**<br>**held with affiliated**<br>**entities or the**<br>**distributor**<br>**of the fund** | **Number of** <br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other directorships<sup>3</sup>** <br>**held by trustee**<br>**during the**<br>**past five years** |
| Michael C. Gitlin, 1970 <br>Trustee (2018) | Partner – Capital Fixed Income Investors, Capital Research and Management Company; Vice Chairman and Director, Capital Research and Management Company; Director, The Capital Group Companies, Inc.\* | 88 |  |
| Karl J. Zeile, 1966 <br>Trustee (2018) | Partner – Capital Fixed Income Investors, Capital Research and Management Company | 23 |  |

---

Capital Group Central Cash Fund — Page 15

------

**Other officers**<sup>5</sup>**

---

| | |
|:---|:---|
| **Name, year of birth** <br>**and position with fund**<br>**(year first elected**<br>**as an officer<sup>2</sup>)** | **Principal occupation(s) during the past five years** <br>**and positions held with affiliated entities**<br>**or the distributor of the fund** |
| Steven D. Lotwin, 1969 <br>President (2018) | Partner – Capital Fixed Income Investors, Capital Research and Management Company; Director, Capital Research and Management Company |
| Kristine M. Nishiyama, 1970<br>Principal Executive Officer (2018) | Senior Vice President and Senior Counsel – Fund Business Management Group, Capital Research and Management Company; Chair, Senior Vice President, General Counsel and Director, Capital Bank and Trust Company\* |
| Michael W. Stockton, 1967<br>Executive Vice President (2021) | Senior Vice President – Fund Business Management Group, Capital Research and Management Company |
| Karen Hall, 1965 <br>Vice President (2018) | Vice President – Fixed Income Securities Trading Unit, Capital Research and Management Company |
| Miguel Tapia, 1977<br>Vice President (2018) | Vice President – Fixed Income Securities Trading Unit, Capital Research and Management Company |
| Steven I. Koszalka, 1964<br>Secretary (2018) | Vice President – Fund Business Management Group, Capital Research and Management Company |
| Brian C. Janssen, 1972<br>Treasurer (2018) | Senior Vice President – Investment Operations, Capital Research and Management Company |
| Jane Y. Chung, 1974<br>Assistant Secretary (2018) | Associate – Fund Business Management Group, Capital Research and Management Company |
| Sandra Chuon, 1972 <br>Assistant Treasurer (2019) | Vice President – Investment Operations, Capital Research and Management Company |
| Becky L. Park, 1979<br>Assistant Treasurer (2021) | Vice President – Investment Operations, Capital Research and Management Company |

---

\* Company affiliated with Capital Research and Management Company.

<sup>1</sup>The term independent trustee refers to a trustee who is not an "interested person" of the fund within the meaning of the 1940 Act.

<sup>2</sup>Trustees and officers of the fund serve until their resignation, removal or retirement.

<sup>3</sup>This includes all directorships/trusteeships (other than those in the American Funds or other funds managed by Capital Research and Management Company or its affiliates) that are held by each trustee as a director/trustee of a public company or a registered investment company. Unless otherwise noted, all directorships/trusteeships are current.

<sup>4</sup>The term interested trustee refers to a trustee who is an "interested person" of the fund within the meaning of the 1940 Act, on the basis of his or her affiliation with the fund's investment adviser, Capital Research and Management Company, or affiliated entities (including the fund's distributor).

<sup>5</sup>All of the trustees and/or officers listed are officers and/or directors/trustees of one or more of the other funds for which Capital Research and Management Company serves as investment adviser.

**The address for all trustees and officers of the fund is 333 South Hope Street, 55th Floor, Los Angeles, California 90071, Attention: Secretary.**

Capital Group Central Cash Fund — Page 16

------

 **Fund shares owned by trustees as of December 31, 2022:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| Name | **Dollar range<sup>1,3</sup>** <br>**of fund**<br>**shares owned** | **Aggregate** <br>**dollar range<sup>1</sup>**<br>**of shares**<br>**owned in**<br>**all funds**<br>**overseen by trustee**<br>**in same family of**<br>**investment companies**<br>**as the fund** | **Dollar** <br>**range<sup>1,2</sup> of**<br>**independent** <br>**trustees**<br>**deferred compensation<sup>4</sup> allocated**<br>**to fund** | **Aggregate** <br>**dollar range<sup>1,2</sup> of**<br>**independent**<br>**trustees**<br>**deferred**<br>**compensation<sup>4</sup>**<br>**allocated to**<br>**all funds**<br>**overseen**<br>**by trustee**<br>**in same family of**<br>**investment companies**<br>**as the fund** |
| **Independent trustees** | **Independent trustees** | **Independent trustees** | **Independent trustees** | **Independent trustees** |
| Francisco G. Cigarroa |  |  | $10001 – $50000 | Over $100,000 |
| Nariman Farvardin |  | Over $100,000 | $50001 – $100000 | Over $100,000 |
| Jennifer C. Feikin |  | Over $100,000 | N/A | N/A |
| Leslie Stone Heisz |  | Over $100,000 | N/A | N/A |
| Mary Davis Holt |  | Over $100,000 | N/A | N/A |
| Merit E. Janow |  | Over $100,000 | $1 – $10000 | Over $100,000 |
| Margaret Spellings |  | Over $100,000 | $10001 – $50000 | Over $100,000 |
| Alexandra Trower |  | Over $100,000 | $50001 – $100000 | Over $100,000 |
| Paul S. Williams |  | Over $100,000 | $10001 – $50000 | Over $100,000 |

---

---

| | | |
|:---|:---|:---|
| Name | **Dollar range<sup>1,3</sup>**<br>**of fund**<br>**shares owned** | **Aggregate**<br>**dollar range<sup>1</sup>**<br>**of shares**<br>**owned in**<br>**all funds**<br>**overseen by trustee**<br>**in same family of**<br>**investment companies**<br>**as the fund** |
| **Interested trustees** | **Interested trustees** | **Interested trustees** |
| Michael C. Gitlin |  | Over $100,000 |
| Karl J. Zeile |  | Over $100,000 |

---

<sup>1</sup>Ownership disclosure is made using the following ranges: None; $1 – $10,000; $10,001 – $50,000; $50,001 – $100,000; and Over $100,000. The amounts listed for interested trustees include shares owned through The Capital Group Companies, Inc. retirement plan and 401(k) plan.

<sup>2</sup> N/A indicates that the listed individual, as of December 31, 2022, was not a trustee of a particular fund, did not allocate deferred compensation to the fund or did not participate in the deferred compensation plan.

<sup>3</sup>Shares of the fund are generally only available for purchase by the fund's investment adviser and its affiliates and other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates.

<sup>4</sup>Eligible trustees may defer their compensation under a nonqualified deferred compensation plan. Amounts deferred by the trustee accumulate at an earnings rate determined by the total return of the fund.

Capital Group Central Cash Fund — Page 17

------

**Trustee compensation —** No compensation is paid by the fund to any officer or trustee who is a director, officer or employee of the investment adviser or its affiliates. Except for the independent trustees listed in the "Board of trustees and officers — Independent trustees" table under the "Management of the fund" section in this Part B of the fund's registration statement, all other officers and trustees of the fund are directors, officers or employees of the investment adviser or its affiliates. The board typically meets either individually or jointly with the boards of one or more other such funds with substantially overlapping board membership (in each case referred to as a "board cluster"). The fund typically pays each independent trustee an annual retainer fee based primarily on the total number of board clusters which that independent trustee serves. Board and committee chairs receive additional fees for their services.

The fund and the other funds served by each independent trustee each pay a portion of these fees.

No pension or retirement benefits are accrued as part of fund expenses. Generally, independent trustees may elect, on a voluntary basis, to defer all or a portion of their fees through a deferred compensation plan in effect for the fund. The fund also reimburses certain expenses of the independent trustees.

 **Trustee compensation earned during the fiscal year ended October 31, 2022:** 

---

| | | |
|:---|:---|:---|
| Name | **Aggregate compensation** <br>**(including voluntarily**<br>**deferred compensation<sup>1</sup>)**<br>**from the fund** | **Total compensation (including** <br>**voluntarily deferred**<br>**compensation<sup>1</sup>)**<br>**from all funds managed by**<br>**Capital Research and**<br>**Management**<br>**Company or its affiliates** |
| Francisco G. Cigarroa<sup>2</sup> | $21298 | $324750 |
| James G. Ellis <br>(retired December 31, 2022) | 16535 | 505375 |
| Nariman Farvardin<sup>2</sup> | 13591 | 465482 |
| Jennifer C. Feikin <br>(elected December 5, 2022) | N/A | 166000 |
| Leslie Stone Heisz <br>(elected December 5, 2022) | N/A | 166625 |
| Mary Davis Holt | 15243 | 373250 |
| Merit E. Janow<sup>2</sup> | 12919 | 503476 |
| Margaret Spellings<sup>2</sup> | 15888 | 504476 |
| Alexandra Trower<sup>2</sup> | 21832 | 332750 |
| Paul S. Williams<sup>2</sup> | 21331 | 325250 |

---

<sup>1</sup> Amounts may be deferred by eligible trustees under a nonqualified deferred compensation plan adopted by the fund in 2019. Deferred amounts accumulate at an earnings rate determined by the total return of the fund. Compensation shown in this table for the fiscal year ended October 31, 2022 does not include earnings on amounts deferred in previous fiscal years.

<sup>2</sup> Since the deferred compensation plan's adoption, the total amount of deferred compensation accrued by the fund (plus earnings thereon) through the end of the October 31, 2022 fiscal year for participating trustees is as follows: Francisco G. Cigarroa ($17,512), Nariman Farvardin ($54,064), Merit E. Janow ($5,562), Margaret Spellings ($12,152), Alexandra Trower ($74,203) and Paul S. Williams ($18,733). Amounts deferred and accumulated earnings thereon are not funded and are general unsecured liabilities of the fund until paid to the trustees.

**Fund organization and the board of trustees —** The fund is a series of an open-end, diversified management investment company, which was organized as a Delaware statutory trust on January 19, 2018.

Capital Group Central Cash Fund — Page 18

------

Delaware law charges trustees with the duty of managing the business affairs of the trust. Trustees are considered to be fiduciaries of the trust and owe duties of care and loyalty to the trust and its shareholders.

Independent board members are paid certain fees for services rendered to the fund as described above. They may elect to defer all or a portion of these fees through a deferred compensation plan in effect for the fund.

The fund has one share class, the M share class. The trustees have the authority to establish new series and classes of shares, and to split or combine outstanding shares into a greater or lesser number, without shareholder approval.

The fund does not hold annual meetings of shareholders. However, significant matters that require shareholder approval, such as certain elections of board members or a change in a fundamental investment policy, will be presented to shareholders at a meeting called for such purpose. Shareholders have one vote per share owned.

The fund's declaration of trust and by-laws, as well as separate indemnification agreements with independent trustees, provide in effect that, subject to certain conditions, the fund will indemnify its officers and trustees against liabilities or expenses actually and reasonably incurred by them relating to their service to the fund. However, trustees are not protected from liability by reason of their willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of their office.

**Leadership structure —** The board's chair is currently an independent trustee who is not an "interested person" of the fund within the meaning of the 1940 Act. The board has determined that an independent chair facilitates oversight and enhances the effectiveness of the board. The independent chair's duties include, without limitation, generally presiding at meetings of the board, approving board meeting schedules and agendas, leading meetings of the independent trustees in executive session, facilitating communication with committee chairs, and serving as the principal independent trustee contact for fund management and counsel to the independent trustees and the fund.

**Risk oversight —** Day-to-day management of the fund, including risk management, is the responsibility of the fund's contractual service providers, including the fund's investment adviser, distributor and transfer agent. Each of these entities is responsible for specific portions of the fund's operations, including the processes and associated risks relating to the fund's investments, integrity of cash movements, financial reporting, operations and compliance. The board of trustees oversees the service providers' discharge of their responsibilities, including the processes they use to manage relevant risks. In that regard, the board receives reports regarding the operations of the fund's service providers, including risks. For example, the board receives reports from investment professionals regarding risks related to the fund's investments and trading. The board also receives compliance reports from the fund's and the investment adviser's chief compliance officers addressing certain areas of risk.

Committees of the fund's board, which are comprised of independent board members, none of whom is an "interested person" of the fund within the meaning of the 1940 Act, as well as joint committees of independent board members of funds managed by Capital Research and Management Company, also explore risk management procedures in particular areas and then report back to the full board. For example, the fund's audit committee oversees the processes and certain attendant risks relating to financial reporting, valuation of fund assets, and related controls. Similarly, a joint review and advisory committee oversees certain risk controls relating to the fund's transfer agency services.

Capital Group Central Cash Fund — Page 19

------

Not all risks that may affect the fund can be identified or processes and controls developed to eliminate or mitigate their effect. Moreover, it is necessary to bear certain risks (such as investment-related risks) to achieve the fund's objectives. As a result of the foregoing and other factors, the ability of the fund's service providers to eliminate or mitigate risks is subject to limitations.

**Committees of the board of trustees —** The fund has an audit committee comprised of Francisco G. Cigarroa, Leslie Stone Heisz, Mary Davis Holt and Paul S. Williams. The committee provides oversight regarding the fund's accounting and financial reporting policies and practices, the fund's internal controls and the internal controls of the fund's principal service providers. The committee acts as a liaison between the fund's independent registered public accounting firm and the full board of trustees. The audit committee held five meetings during the 2022 fiscal year.

The fund has a contracts committee comprised of all of its independent board members. The committee's principal function is to request, review and consider the information deemed necessary to evaluate the terms of certain agreements between the fund and its investment adviser or the investment adviser's affiliates, such as the Investment Advisory and Service Agreement and Principal Underwriting Agreement, that the fund may enter into, renew or continue, and to make its recommendations to the full board of trustees on these matters. The contracts committee held one meeting during the 2022 fiscal year.

The fund has a nominating and governance committee comprised of Nariman Farvardin, Jennifer C. Feikin, Merit E. Janow, Margaret Spellings and Alexandra Trower. The committee periodically reviews such issues as the board's composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the fund, addressed to the fund's secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the committee. The nominating and governance committee held two meetings during the 2022 fiscal year.

The independent board members of the fund have oversight responsibility for the fund and certain other funds managed by the investment adviser. As part of their oversight responsibility for these funds, each independent board member sits on one of three fund review committees comprised solely of independent board members. The three committees are divided by portfolio type. Each committee functions independently and is not a decision making body. The purpose of the committees is to assist the board of each fund in the oversight of the investment management services provided by the investment adviser. In addition to regularly monitoring and reviewing investment results, investment activities and strategies used to manage the fund's assets, the committees also receive reports from the investment adviser's Principal Investment Officers for the funds, portfolio managers and other investment personnel concerning efforts to achieve the fund's investment objectives. Each committee reports to the full board of the fund.

**Proxy voting procedures and principles —** The fund's investment adviser, in consultation with the fund's board, has adopted Proxy Voting Procedures and Principles (the "Principles") with respect to voting proxies of securities held by the fund and other funds advised by the investment adviser or its affiliates. The complete text of these principles is available at capitalgroup.com. Proxies are voted by a committee of the appropriate equity investment division of the investment adviser under authority delegated by the funds' boards. The boards of American Funds have established a Joint Proxy Committee ("JPC") composed of independent board members from each American Funds board. The

Capital Group Central Cash Fund — Page 20

------

JPC's role is to facilitate appropriate oversight of the proxy voting process and provide valuable input on corporate governance and related matters.

The Principles provide an important framework for analysis and decision-making by all funds. However, they are not exhaustive and do not address all potential issues. The Principles provide a certain amount of flexibility so that all relevant facts and circumstances can be considered in connection with every vote. As a result, each proxy received is voted on a case-by-case basis considering the specific circumstances of each proposal. The voting process reflects the funds' understanding of the company's business, its management and its relationship with shareholders over time. In all cases, the investment objectives and policies of the funds managed by the investment adviser remain the focus.

The investment adviser seeks to vote all U.S. proxies; however, in certain circumstances it may be impracticable or impossible to do so. Proxies for companies outside the U.S. also are voted, provided there is sufficient time and information available. Certain regulators have granted investment limit relief to the investment adviser and its affiliates, conditioned upon limiting its voting power to specific voting ceilings. To comply with these voting ceilings, the investment adviser will scale back its votes across all funds and clients on a pro-rata basis based on assets.

After a proxy statement is received, the investment adviser's stewardship and engagement team prepares a summary of the proposals contained in the proxy statement. A notation of any potential conflicts of interest also is included in the summary (see below for a description of the investment adviser's special review procedures).

For proxies of securities managed by a particular equity investment division of the investment adviser, the initial voting recommendation is made either by one or more of the division's investment analysts familiar with the company and industry or, for routine matters, by a member of the investment adviser's stewardship and engagement team and reviewed by the applicable analyst(s). Depending on the vote, a second recommendation may be made by a proxy coordinator (an investment analyst or other individual with experience in corporate governance and proxy voting matters) within the appropriate investment division, based on knowledge of these Principles and familiarity with proxy-related issues. The proxy summary and voting recommendations are made available to the proxy voting committee of the applicable investment division for a final voting decision. In cases where a fund is co-managed and a security is held by more than one of the investment adviser's equity investment divisions, the divisions may develop different voting recommendations for individual ballot proposals. If this occurs, and if permitted by local market conventions, the fund's position will generally be voted proportionally by divisional holding, according to their respective decisions. Otherwise, the outcome will be determined by the equity investment division or divisions with the larger position in the security as of the record date for the shareholder meeting.

In addition to its proprietary proxy voting, governance and executive compensation research, Capital Research and Management Company may utilize research provided by Institutional Shareholder Services, Glass-Lewis & Co. or other third-party advisory firms on a case-by-case basis. It does not, as a policy, follow the voting recommendations provided by these firms. It periodically assesses the information provided by the advisory firms and reports to the JPC, as appropriate.

From time to time the investment adviser may vote proxies issued by, or on proposals sponsored or publicly supported by *(a)* a client with substantial assets managed by the investment adviser or its affiliates, *(b)* an entity with a significant business relationship with The Capital Group Companies, Inc. or its affiliates, or *(c)* a company with a director of an American Fund on its board (each referred to as an "Interested Party"). Other persons or entities may also be deemed an Interested Party if facts or circumstances appear to give rise to a potential conflict. The investment adviser analyzes these proxies and proposals on their merits and does not consider these relationships when casting its vote.

Capital Group Central Cash Fund — Page 21

------

The investment adviser has developed procedures to identify and address instances where a vote could appear to be influenced by such a relationship. Under the procedures, prior to a final vote being cast by the investment adviser, the relevant proxy committees' voting results for proxies issued by Interested Parties are reviewed by a Special Review Committee ("SRC") of the investment division voting the proxy if the vote was in favor of the Interested Party.

If a potential conflict is identified according to the procedure above, the SRC will be provided with a summary of any relevant communications with the Interested Party, the rationale for the voting decision, information on the organization's relationship with the Interested Party and any other pertinent information. If the SRC determines, based on the information provided, that a conflict of interest could affect the investment adviser's best judgement as a fiduciary, the SRC will take appropriate steps to address the conflict of interest including, if appropriate, engaging an independent, third-party fiduciary to vote the proxy. The SRC includes senior investment professionals and legal and compliance professionals.

Information regarding how the fund voted proxies relating to portfolio securities during the 12-month period ended June 30 of each year will be available on or about September 1 of such year (*a*) without charge, upon request by calling American Funds Service Company at (800) 421-4225, (*b*) on the Capital Group website and (*c*) on the SEC's website at sec.gov.

The following summary sets forth the general positions of American Funds, American Funds Insurance Series and the investment adviser on various proposals. A copy of the full Principles is available upon request, free of charge, by calling American Funds Service Company or visiting the fund's website.

**Director matters —** The election of a company's slate of nominees for director generally is supported. Votes may be withheld for some or all of the nominees if this is determined to be in the best interest of shareholders or if, in the opinion of the investment adviser, such nominee has not fulfilled his or her fiduciary duty. In making this determination, the investment adviser considers, among other things, a nominee's potential conflicts of interest, track record in shareholder protection and value creation as well as their capacity for full engagement on board matters. The investment adviser generally supports diversity of experience among board members, and the separation of the chairman and CEO positions.

**Governance provisions —** Typically, proposals to declassify a board (elect all directors annually) are supported based on the belief that this increases the directors' sense of accountability to shareholders. Proposals for cumulative voting generally are supported in order to promote management and board accountability and an opportunity for leadership change. Proposals designed to make director elections more meaningful, either by requiring a majority vote or by requiring any director receiving more withhold votes than affirmative votes to tender his or her resignation, generally are supported.

**Shareholder rights —** Proposals to repeal an existing poison pill generally are supported. (There may be certain circumstances, however, when a proxy voting committee of a fund or an investment division of the investment adviser believes that a company needs to maintain anti-takeover protection.) Proposals to eliminate the right of shareholders to act by written consent or to take away a shareholder's right to call a special meeting typically are not supported.

**Compensation and benefit plans —** Option plans are complicated, and many factors are considered in evaluating a plan. Each plan is evaluated based on protecting shareholder interests and a knowledge of the company and its management. Considerations include the pricing (or repricing) of options awarded under the plan and the impact of dilution on existing shareholders from past and future equity awards. Compensation packages should be

Capital Group Central Cash Fund — Page 22

------

structured to attract, motivate and retain existing employees and qualified directors; however, they should not be excessive.

**Routine matters —** The ratification of auditors, procedural matters relating to the annual meeting and changes to company name are examples of items considered routine. Such items generally are voted in favor of management's recommendations unless circumstances indicate otherwise.

**"ESG" shareholder proposals —** The investment adviser believes environmental and social issues present investment risks and opportunities that can shape a company's long-term financial sustainability. Shareholder proposals, including those relating to social and environmental issues, are evaluated in terms of their materiality to the company and its ability to generate long-term value in light of the company's specific operating context. The investment adviser generally supports transparency and standardized disclosure, particularly that which leverages existing regulatory reporting or industry best practices. With respect to environmental matters, this includes disclosures aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the standards set forth by the Sustainability Accounting Standards Board (SASB), and sustainability reports more generally. With respect to social matters, the investment adviser expects companies to be able to articulate a strategy or plan to advance diversity and equity within the workforce, including the company's management and board, subject to local norms and expectations. To that end, disclosure of data relating to workforce diversity and equity that is consistent with broadly applicable standards is generally supported.

Capital Group Central Cash Fund — Page 23

------

**Principal fund shareholders —** The following table identifies those investors who own of record, or are known by the fund to own beneficially, 5% or more of any class of its shares as of the opening of business on January 1, 2023. Unless otherwise indicated, the ownership percentages below represent ownership of record rather than beneficial ownership.

---

| | | | |
|:---|:---|:---|:---|
| NAME AND ADDRESS | OWNERSHIP | OWNERSHIP PERCENTAGE | OWNERSHIP PERCENTAGE |
| THE GROWTH FUND OF AMERICA <br> OMNIBUS ACCOUNT<br> NORFOLK VA | RECORD | CLASS M | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.97% |
| THE GROWTH FUND OF AMERICA <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| THE GROWTH FUND OF AMERICA <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| AMERICAN BALANCED FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA | RECORD | CLASS M | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.51 |
| AMERICAN BALANCED FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| AMERICAN BALANCED FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| THE BOND FUND OF AMERCA <br> OMNIBUS ACCOUNT<br> NORFOLK VA | RECORD | CLASS M | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.02 |
| THE BOND FUND OF AMERCA <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| THE BOND FUND OF AMERCA <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| THE INCOME FUND OF AMERICA <br> OMNIBUS ACCOUNT<br> NORFOLK VA | RECORD | CLASS M | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.37 |
| THE INCOME FUND OF AMERICA <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| THE INCOME FUND OF AMERICA <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| EUROPACIFIC GROWTH FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA | RECORD | CLASS M | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32 |
| EUROPACIFIC GROWTH FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| EUROPACIFIC GROWTH FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| AMERICAN MUTUAL FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA | RECORD | CLASS M | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21 |
| AMERICAN MUTUAL FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |
| AMERICAN MUTUAL FUND <br> OMNIBUS ACCOUNT<br> NORFOLK VA |  |  |  |

---

As of January 1, 2023, the officers and trustees of the fund, as a group, owned beneficially or of record less than 1% of the outstanding shares of the fund.

**Investment adviser —** Capital Research and Management Company, the fund's investment adviser, founded in 1931, maintains research facilities in the United States and abroad (Geneva, Hong Kong, London, Los Angeles, Mumbai, New York, San Francisco, Singapore, Tokyo, Toronto and Washington, D.C.). These facilities are staffed with experienced investment professionals. The investment adviser is located at 333 South Hope Street, Los Angeles, CA 90071. It is a wholly owned subsidiary of The Capital Group Companies, Inc., a holding company for several investment management subsidiaries. Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions — Capital World Investors, Capital Research Global Investors and Capital International Investors — make investment decisions independently of one another. Portfolio managers in Capital International Investors rely on a research team that also provides investment services to institutional clients and other accounts advised by affiliates of Capital Research and Management Company. The investment adviser, which is deemed under the Commodity Exchange Act (the "CEA") to be the operator of the fund, has claimed an exclusion from the definition of the term commodity pool operator under the CEA with respect to the fund and, therefore, is not subject to registration or regulation as such under the CEA with respect to the fund.

Capital Group Central Cash Fund — Page 24

------

**Investment Advisory and Service Agreement —** The Investment Advisory and Service Agreement (the "Agreement") between the fund and the investment adviser will continue in effect until April 30, 2023, unless sooner terminated, and may be renewed from year to year thereafter, provided that any such renewal has been specifically approved at least annually by (*a*) the board of trustees, or by the vote of a majority (as defined in the 1940 Act) of the outstanding voting securities of the fund, and (*b*) the vote of a majority of trustees who are not parties to the Agreement or interested persons (as defined in the 1940 Act) of any such party, in accordance with applicable laws and regulations. The Agreement provides that the investment adviser has no liability to the fund for its acts or omissions in the performance of its obligations to the fund not involving willful misconduct, bad faith, gross negligence or reckless disregard of its obligations under the Agreement. The Agreement also provides that either party has the right to terminate it, without penalty, upon 60 days' written notice to the other party, and that the Agreement automatically terminates in the event of its assignment (as defined in the 1940 Act). In addition, the Agreement provides that the investment adviser may delegate all, or a portion of, its investment management responsibilities to one or more subsidiary advisers approved by the fund's board, pursuant to an agreement between the investment adviser and such subsidiary. Any such subsidiary adviser will be paid solely by the investment adviser out of its fees.

In addition to providing investment advisory services, the investment adviser furnishes the services and pays the compensation and travel expenses of persons to perform the fund's executive, administrative, clerical and bookkeeping functions, and provides suitable office space, necessary small office equipment and utilities, general purpose accounting forms, supplies and postage used at the fund's offices. The fund pays all expenses not assumed by the investment adviser, including, but not limited to: custodian, stock transfer and dividend disbursing fees and expenses; shareholder recordkeeping; costs of the designing, printing and mailing of reports, registration statements, proxy statements and notices to its shareholders; taxes; expenses of the issuance and redemption of fund shares (including stock certificates, registration and qualification fees and expenses); legal and auditing expenses; compensation, fees and expenses paid to independent trustees; association dues; costs of stationery and forms prepared exclusively for the fund; and costs of assembling and storing shareholder account data.

Under the Agreement, the fund does not pay any management fee to the investment adviser.

**Distributor —** American Funds Distributors, Inc. (the "distributor") is the distributor of the fund's shares. The distributor is located at 333 South Hope Street, Los Angeles, CA 90071; 6455 Irvine Center Drive, Irvine, CA 92618; 3500 Wiseman Boulevard, San Antonio, TX 78251; and 12811 North Meridian Street, Carmel, IN 46032.

The distributor receives no compensation from the fund.

Capital Group Central Cash Fund — Page 25

------

 **Execution of portfolio transactions**

The investment adviser places orders with broker-dealers for the fund's portfolio transactions. Purchases and sales of equity securities on a securities exchange or an over-the-counter market are effected through broker-dealers who receive commissions for their services. Generally, commissions relating to securities traded on foreign exchanges will be higher than commissions relating to securities traded on U.S. exchanges and may not be subject to negotiation. Equity securities may also be purchased from underwriters at prices that include underwriting fees. Purchases and sales of fixed income securities are generally made with an issuer or a primary market maker acting as principal with no stated brokerage commission. The price paid to an underwriter for fixed income securities includes underwriting fees. Prices for fixed income securities in secondary trades usually include undisclosed compensation to the market maker reflecting the spread between the bid and ask prices for the securities.

In selecting broker-dealers, the investment adviser strives to obtain "best execution" (the most favorable total price reasonably attainable under the circumstances) for the fund's portfolio transactions, taking into account a variety of factors. These factors include the size and type of transaction, the nature and character of the markets for the security to be purchased or sold, the cost, quality, likely speed and reliability of execution and settlement, the broker-dealer's or execution venue's ability to offer liquidity and anonymity and the trade-off between market impact and opportunity costs. The investment adviser considers these factors, which involve qualitative judgments, when selecting broker-dealers and execution venues for fund portfolio transactions. The investment adviser views best execution as a process that should be evaluated over time as part of an overall relationship with particular broker-dealer firms. The investment adviser and its affiliates negotiate commission rates with broker-dealers based on what they believe is reasonably necessary to obtain best execution. They seek, on an ongoing basis, to determine what the reasonable levels of commission rates for execution services are in the marketplace, taking various considerations into account, including the extent to which a broker-dealer has put its own capital at risk, historical commission rates and commission rates that other institutional investors are paying. The fund does not consider the investment adviser as having an obligation to obtain the lowest commission rate available for a portfolio transaction to the exclusion of price, service and qualitative considerations. Brokerage commissions are only a small part of total execution costs and other factors, such as market impact and speed of execution, contribute significantly to overall transaction costs.

The investment adviser may execute portfolio transactions with broker-dealers who provide certain brokerage and/or investment research services to it but only when in the investment adviser's judgment the broker-dealer is capable of providing best execution for that transaction. The investment adviser makes decisions for procurement of research separately and distinctly from decisions on the choice of brokerage and execution services. The receipt of these research services permits the investment adviser to supplement its own research and analysis and makes available the views of, and information from, individuals and the research staffs of other firms. Such views and information may be provided in the form of written reports, telephone contacts and meetings with securities analysts. These services may include, among other things, reports and other communications with respect to individual companies, industries, countries and regions, economic, political and legal developments, as well as scheduling meetings with corporate executives and seminars and conferences related to relevant subject matters. Research services that the investment adviser receives from broker-dealers may be used by the investment adviser in servicing the fund and other funds and accounts that it advises; however, not all such services will necessarily benefit the fund.

The investment adviser bears the cost of all third-party investment research services for all client accounts it advises. However, in order to compensate certain U.S. broker-dealers for research consumed, and valued, by the investment adviser's investment professionals, the investment adviser continues to operate a limited commission sharing arrangement with commissions on equity trades for certain registered investment companies it advises. The investment adviser voluntarily reimburses such

Capital Group Central Cash Fund — Page 26

------

registered investment companies for all amounts collected into the commission sharing arrangement. In order to operate the commission sharing arrangement, the investment adviser may cause such registered investment companies to pay commissions in excess of what other broker-dealers might have charged for certain portfolio transactions in recognition of brokerage and/or investment research services. In this regard, the investment adviser has adopted a brokerage allocation procedure consistent with the requirements of Section 28(e) of the Securities Exchange Act of 1934. Section 28(e) permits the investment adviser and its affiliates to cause an account to pay a higher commission to a broker-dealer to compensate the broker-dealer or another service provider for certain brokerage and/or investment research services provided to the investment adviser and its affiliates, if the investment adviser and each affiliate makes a good faith determination that such commissions are reasonable in relation to the value of the services provided by such broker-dealer to the investment adviser and its affiliates in terms of that particular transaction or the investment adviser's overall responsibility to the fund and other accounts that it advises. Certain brokerage and/or investment research services may not necessarily benefit all accounts paying commissions to each such broker-dealer; therefore, the investment adviser and its affiliates assess the reasonableness of commissions in light of the total brokerage and investment research services provided to the investment adviser and its affiliates. Further, investment research services may be used by all investment associates of the investment adviser and its affiliates, regardless of whether they advise accounts with trading activity that generates eligible commissions.

In accordance with their internal brokerage allocation procedure, the investment adviser and its affiliates periodically assess the brokerage and investment research services provided by each broker-dealer and each other service provider from which they receive such services. As part of its ongoing relationships, the investment adviser and its affiliates routinely meet with firms to discuss the level and quality of the brokerage and research services provided, as well as the value and cost of such services. In valuing the brokerage and investment research services the investment adviser and its affiliates receive from broker-dealers and other research providers in connection with its good faith determination of reasonableness, the investment adviser and its affiliates take various factors into consideration, including the quantity, quality and usefulness of the services to the investment adviser and its affiliates. Based on this information and applying their judgment, the investment adviser and its affiliates set an annual research budget.

Research analysts and portfolio managers periodically participate in a research poll to determine the usefulness and value of the research provided by individual broker-dealers and research providers. Based on the results of this research poll, the investment adviser and its affiliates may, through commission sharing arrangements with certain broker-dealers, direct a portion of commissions paid to a broker-dealer by the funds and other registered investment companies managed by the investment adviser or its affiliates to be used to compensate the broker-dealer and/or other research providers for research services they provide. While the investment adviser and its affiliates may negotiate commission rates and enter into commission sharing arrangements with certain broker-dealers with the expectation that such broker-dealers will be providing brokerage and research services, none of the investment adviser, any of its affiliates or any of their clients incurs any obligation to any broker-dealer to pay for research by generating trading commissions. The investment adviser and its affiliates negotiate prices for certain research that may be paid through commission sharing arrangements or by themselves with cash.

When executing portfolio transactions in the same equity security for the funds and accounts, or portions of funds and accounts, over which the investment adviser, through its equity investment divisions, has investment discretion, each investment division within the adviser and its affiliates normally aggregates its respective purchases or sales and executes them as part of the same transaction or series of transactions. When executing portfolio transactions in the same fixed income security for the fund and the other funds or accounts over which it or one of its affiliated companies has investment discretion, the investment adviser normally aggregates such purchases or sales and executes them as part of the same transaction or series of transactions. The objective of aggregating

Capital Group Central Cash Fund — Page 27

------

purchases and sales of a security is to allocate executions in an equitable manner among the funds and other accounts that have concurrently authorized a transaction in such security. The investment adviser and its affiliates serve as investment adviser for certain accounts that are designed to be substantially similar to another account. This type of account will often generate a large number of relatively small trades when it is rebalanced to its reference fund due to differing cash flows or when the account is initially started up. The investment adviser may not aggregate program trades or electronic list trades executed as part of this process. Non-aggregated trades performed for these accounts will be allocated entirely to that account. This is done only when the investment adviser believes doing so will not have a material impact on the price or quality of other transactions.

The investment adviser currently owns a minority interest in IEX Group and alternative trading systems, Luminex ATS and LeveL ATS (through a minority interest in their common parent holding company). The investment adviser, or brokers with whom the investment adviser places orders, may place orders on these or other exchanges or alternative trading systems in which it, or one of its affiliates, has an ownership interest, provided such ownership interest is less than five percent of the total ownership interests in the entity. The investment adviser is subject to the same best execution obligations when trading on any such exchange or alternative trading systems.

Purchase and sale transactions may be effected directly among and between certain funds or accounts advised by the investment adviser or its affiliates, including the fund. The investment adviser maintains cross-trade policies and procedures and places a cross-trade only when such a trade is in the best interest of all participating clients and is not prohibited by the participating funds' or accounts' investment management agreement or applicable law.

The investment adviser may place orders for the fund's portfolio transactions with broker-dealers who have sold shares of the funds managed by the investment adviser or its affiliated companies; however, it does not consider whether a broker-dealer has sold shares of the funds managed by the investment adviser or its affiliated companies when placing any such orders for the fund's portfolio transactions.

No brokerage commissions were paid by the fund on portfolio transactions for the fiscal years ended October 31, 2022, 2021 and 2020.

The fund is required to disclose information regarding investments in the securities of its "regular" broker-dealers (or parent companies of its regular broker-dealers) that derive more than 15% of their revenue from broker-dealer, underwriter or investment adviser activities. A regular broker-dealer is (*a*) one of the 10 broker-dealers that received from the fund the largest amount of brokerage commissions by participating, directly or indirectly, in the fund's portfolio transactions during the fund's most recently completed fiscal year; (*b*) one of the 10 broker-dealers that engaged as principal in the largest dollar amount of portfolio transactions of the fund during the fund's most recently completed fiscal year; or (*c*) one of the 10 broker-dealers that sold the largest amount of securities of the fund during the fund's most recently completed fiscal year.

At the end of the fund's most recently completed fiscal year, the fund did not have investments in securities of any of its regular broker-dealers.

Capital Group Central Cash Fund — Page 28

------

 **Disclosure of portfolio holdings**

The fund's investment adviser, on behalf of the fund, has adopted policies and procedures with respect to the disclosure of information about fund portfolio securities. These policies and procedures have been reviewed by the fund's board of trustees and compliance will be periodically assessed by the board in connection with reporting from the fund's Chief Compliance Officer.

Under rule 2a-7 of the 1940 Act, the fund's complete list of portfolio holdings, dated as of the end of each month, must be posted on the fund's website within five business days after the end of the applicable month. Under the fund's policies and procedures, such portfolio holdings information may then be disclosed to any person pursuant to an ongoing arrangement to disclose portfolio holdings information to such person no earlier than one day after the day on which the information is posted on the fund's website. The fund's custodian, outside counsel and auditor, each of which requires portfolio holdings information for legitimate business and fund oversight purposes, may receive the information earlier. See the "General information" section in this Part B of the fund's registration statement for further information about the fund's custodian, outside counsel and auditor.

Certain intermediaries are provided additional information about the fund's management team, including information on the fund's portfolio securities they have selected. This information is provided to larger intermediaries that require the information to make the fund available for investment on the firm's platform. Intermediaries receiving the information are required to keep it confidential and use it only to perform analysis on the fund.

Affiliated persons of the fund, including officers of the fund and employees of the investment adviser and its affiliates, who receive portfolio holdings information are subject to restrictions and limitations on the use and handling of such information pursuant to applicable codes of ethics, including requirements not to trade in securities based on confidential and proprietary investment information, to maintain the confidentiality of such information, and to preclear securities trades and report securities transactions activity, as applicable. For more information on these restrictions and limitations, please see the "Code of Ethics" section in this Part B of the fund's registration statement and the Code of Ethics. Third-party service providers of the fund, and other entities as described in this Part B of the fund's registration statement, receiving such information are subject to confidentiality obligations and obligations that would prohibit them from trading in securities based on such information. When portfolio holdings information is disclosed other than through the fund's website to persons not affiliated with the fund (which, as described above, would typically occur no earlier than one day after the day on which the information is posted on the fund's website), such persons will be bound by agreements (including confidentiality agreements) or fiduciary obligations that restrict and limit their use of the information to legitimate business uses only. None of the fund nor its investment adviser or any of their affiliates receives compensation or other consideration in connection with the disclosure of information about portfolio securities.

Subject to board policies, the authority to disclose the fund's portfolio holdings, and to establish policies with respect to such disclosure, resides with the appropriate investment-related committees of the fund's investment adviser. In exercising their authority, the committees determine whether disclosure of information about the fund's portfolio securities is appropriate and in the best interest of fund shareholders. The investment adviser has implemented policies and procedures to address conflicts of interest that may arise from the disclosure of fund holdings. For example, the investment adviser's code of ethics specifically requires, among other things, the safeguarding of information about fund holdings and contains prohibitions designed to prevent the personal use of confidential, proprietary investment information in a way that would conflict with fund transactions. In addition, the investment adviser believes that its current policy of not selling portfolio holdings information and not disclosing such information to unaffiliated third parties until such holdings have been made public on the fund's website (other than to certain fund service providers for legitimate business and fund

Capital Group Central Cash Fund — Page 29

------

oversight purposes) helps reduce potential conflicts of interest between fund shareholders and the investment adviser and its affiliates.

Capital Group Central Cash Fund — Page 30

------

 **Price of shares**

Shares are purchased at the offering price or sold at the net asset value price next determined after the purchase or sell order is received by the fund or the Transfer Agent provided that your request contains all information and legal documentation necessary to process the transaction. The Transfer Agent may accept written orders for the sale of fund shares on a future date. These orders are subject to the Transfer Agent's policies, which generally allow shareholders to provide a written request to sell shares at the net asset value on a specified date no more than five business days after receipt of the order by the Transfer Agent. Any request to sell shares on a future date will be rejected if the request is not in writing, if the requested transaction date is more than five business days after the Transfer Agent receives the request or if the request does not contain all information and legal documentation necessary to process the transaction.

The price you pay for shares, the offering price, is based on the net asset value per share which is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. If the New York Stock Exchange makes a scheduled (e.g. the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the net asset value of the fund will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New York Stock Exchange, those later market quotations and prices will be used in determining the fund's net asset value. The fund may also calculate its share price on days the New York Stock Exchange is closed, consistent with applicable regulatory guidance.

Orders in good order received after the New York Stock Exchange closes (scheduled or unscheduled) will be processed at the net asset value (plus any applicable sales charge) calculated on the following business day. The New York Stock Exchange is currently closed on weekends and on the following holidays: New Year's Day; Martin Luther King Jr. Day; Presidents' Day; Good Friday; Memorial Day; Juneteenth National Independence Day; Independence Day; Labor Day; Thanksgiving Day; and Christmas Day.

As an institutional prime money market fund, the fund's initial net asset value of $100.00 is calculated to two decimal places. The fund's net asset value will vary as a result of changes in the value of the securities in which the fund invests. The fund follows standard industry practice by typically reflecting changes in its holdings of portfolio securities on the first business day following a portfolio trade.

All securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more inputs that may include, among other things, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, underlying equity of the issuer, interest rate volatilities, spreads and other relationships observed in the markets among comparable securities and proprietary pricing models such as yield measures calculated using factors such as cash flows, prepayment information, default rates, delinquency and loss assumptions, financial or collateral characteristics or performance, credit enhancements, liquidation value calculations, specific deal information and other reference data.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the investment adviser are valued at fair value as determined in good faith under fair value guidelines adopted by the investment adviser and approved by the fund's board. Subject to board oversight, the fund's board has designated the fund's investment adviser to make fair valuation determinations, which are directed by a valuation committee established by the fund's investment adviser. The board receives regular reports describing fair-valued securities and the valuation methods used.

Capital Group Central Cash Fund — Page 31

------

As a general principle, these guidelines consider relevant company, market and other data and considerations to determine the price that the fund might reasonably expect to receive if such fair valued securities were sold in an orderly transaction. Fair valuations may differ materially from valuations that would have been used had greater market activity occurred. The investment adviser's valuation committee considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities and transactions, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security and changes in overall market conditions. The valuation committee employs additional fair value procedures to address issues related to equity securities that trade principally in markets outside the United States. Such securities may trade in markets that open and close at different times, reflecting time zone differences. If significant events occur after the close of a market (and before the fund's net asset values are next determined) which affect the value of equity securities held in the fund's portfolio, appropriate adjustments from closing market prices may be made to reflect these events. Events of this type could include, for example, earthquakes and other natural disasters or significant price changes in other markets (e.g., U.S. stock markets).

Net assets so obtained for the fund are then divided by the total number of shares outstanding, and the result, calculated to four decimal places or equivalent value, is the net asset value per share for the fund.

Capital Group Central Cash Fund — Page 32

------

 **Taxes and distributions**

**Taxation as a regulated investment company** — The fund intends to qualify each year as a "regulated investment company" under Subchapter M of the Internal Revenue Code ("Code") so that it will not be liable for federal tax on income and capital gains distributed to shareholders. In order to qualify as a regulated investment company, and avoid being subject to federal income taxes, the fund intends to distribute substantially all of its net investment income and realized net capital gains on a fiscal year basis, and intends to comply with other tests applicable to regulated investment companies under Subchapter M.

The Code includes savings provisions allowing the fund to cure inadvertent failures of certain qualification tests required under Subchapter M. However, should the fund fail to qualify under Subchapter M, the fund would be subject to federal, and possibly state, corporate taxes on its taxable income and gains.

Amounts not distributed by the fund on a timely basis in accordance with a calendar year distribution requirement may be subject to a nondeductible 4% excise tax. Unless an applicable exception applies, to avoid the tax, the fund must distribute during each calendar year an amount equal to the sum of (*a*) at least 98% of its ordinary income (not taking into account any capital gains or losses) for the calendar year, (*b*) at least 98.2% of its capital gains in excess of its capital losses for the twelve month period ending on October 31, and (*c*) all ordinary income and capital gains for previous years that were not distributed during such years and on which the fund paid no U.S. federal income tax.

Dividends paid by the fund from ordinary income or from an excess of net short-term capital gain over net long-term capital loss are taxable to shareholders as ordinary income dividends. The fund does not typically realize short- or long-term capital gains or losses on sales of securities.

Certain distributions reported by the fund as Section 163(j) interest dividends may be treated as interest income by shareholders for purposes of the tax rules applicable to interest expense limitations under Section 163(j) of the Code. Such treatment by the shareholder is generally subject to holding period requirements and other potential limitations, although the holding period requirements are generally not applicable to dividends declared by money market funds and certain other funds that declare dividends daily and pay such dividends on a monthly or more frequent basis. The amount that the fund is eligible to report as a Section 163(j) dividend for a tax year is generally limited to the excess of the fund's business interest income over the sum of the fund's (i) business interest expense and (ii) other deductions properly allocable to the fund's business interest income.

Individuals (and certain other non-corporate entities) are generally eligible for a 20% deduction with respect to taxable ordinary REIT dividends. Applicable Treasury regulations allow the fund to pass through to its shareholders such taxable ordinary REIT dividends. Accordingly, individual (and certain other non-corporate) shareholders of the fund that have received such taxable ordinary REIT dividends may be able to take advantage of this 20% deduction with respect to any such amounts passed through.

**Taxation on sale of fund shares** – Because the fund's net asset value floats, a sale of fund shares may result in a gain or loss for a shareholder. Assuming a shareholder holds the shares as a capital asset, any gain or loss recognized on a sale of shares will be treated as capital in nature. Unless a shareholder chooses to adopt the simplified "NAV method" of accounting as described below, this capital gain or loss generally will be treated as short-term if the shareholder held fund shares for one year or less or long-term if the shareholder held fund shares for longer.

If the fund determines to impose a liquidity fee on redemptions of the shares, the fee paid by a shareholder on redemption of shares should reduce a shareholder's amount realized for purposes of

Capital Group Central Cash Fund — Page 33

------

calculating the shareholder's net gain or loss on the sale of shares. Any loss realized on the sale of fund shares that a shareholder held for 6 months or less may be disallowed to the extent of any distributions treated as "exempt-interest dividends" with respect to those shares.

The Internal Revenue Service has published guidance providing that the "wash sale" rule of the Code does not apply to sales of shares in a money market fund with a floating net asset value. The wash sale rule disallows losses on taxable sales where other substantially identical shares are purchased (including by dividend reinvestment) within 30 days before or after the sale. Therefore, if a shareholder that sells shares of the fund at a loss and, within 30 days before or after this sale, purchases additional shares of the fund, then such loss will not be disallowed under the wash sale rule.

If the shareholder elects to adopt the NAV method of accounting, rather than compute any gain or loss on every taxable sale of fund shares, the shareholder would determine the gain or loss based on the change in the aggregate value of the fund shares during a computation period (e.g., the shareholder's taxable year or certain shorter periods), reduced by its net investment (purchases minus taxable sales) in those fund shares during the period. Under the NAV method, if a shareholder holds the shares as a capital asset, any resulting net gain or loss (including any loss arising from the shareholder's payment of a liquidity fee on redemption of the shares) would be treated as short-term capital gain or loss.

Shareholders are permitted to use different methods of accounting for shares of a single fund that are held in different accounts or for shares of different money market funds in the same account.

**Discount —** Certain bonds acquired by the fund, such as zero coupon bonds, may be treated as bonds that were originally issued at a discount. Original issue discount represents interest for federal income tax purposes and is generally defined as the difference between the price at which a bond was issued (or the price at which it was deemed issued for federal income tax purposes) and its stated redemption price at maturity. Original issue discount is treated for federal income tax purposes as tax exempt income earned by a fund over the term of the bond, and therefore is subject to the distribution requirements of the Internal Revenue Code. The annual amount of income earned on such a bond by a fund generally is determined on the basis of a constant yield to maturity which takes into account the semiannual compounding of accrued interest (including original issue discount). Certain bonds acquired by the fund may also provide for contingent interest and/or principal. In such a case, rules similar to those for original issue discount bonds would require the accrual of income based on an assumed yield that may exceed the actual interest payments on the bond.

Some of the bonds may be acquired by a fund on the secondary market at a discount which exceeds the original issue discount, if any, on such bonds. This additional discount constitutes market discount for federal income tax purposes. Any gain recognized on the disposition of any bond having market discount generally will be treated as taxable ordinary income to the extent it does not exceed the accrued market discount on such bond (unless a fund elects to include market discount in income in the taxable years to which it is attributable). Realized accrued market discount on obligations that pay tax-exempt interest is nonetheless taxable. Generally, market discount accrues on a daily basis for each day the bond is held by a fund at a constant rate over the time remaining to the bond's maturity. In the case of any debt instrument having a fixed maturity date of not more than one year from date of issue, the gain realized on disposition will be treated as short-term capital gain. Some of the bonds acquired by a fund with a fixed maturity date of one year or less from the date of their issuance may be treated as having original issue discount or, in certain cases, "acquisition discount" (generally, the excess of a bond's stated redemption price at maturity over its acquisition price). A fund will be required to include any such original issue discount or acquisition discount in taxable ordinary income. The rate at which such acquisition discount and market discount accrues, and thus included in a fund's investment company taxable income, will depend upon which of the permitted accrual methods the fund elects.

Capital Group Central Cash Fund — Page 34

------

 **Purchase and exchange of shares**

Shares of the fund are purchased by (a) other funds and investment vehicles and accounts managed by the fund's investment adviser and its affiliates and (b) the fund's investment adviser and its affiliates. Shares of the fund are not available to the public. The fund may accept securities in-kind in exchange for shares of the fund in accordance with the fund's policy and procedures relating to in-kind purchase transactions.

Shares of the fund cannot be exchanged with shares of other funds or investment vehicles managed by the investment adviser or its affiliates. In addition, the fund shares cannot be transferred or resold without registration under the 1933 Act or an available exemption from registration under the 1933 Act.

**Frequent trading of fund shares —** As noted in Part A of the fund's registration statement, the investment adviser anticipates that fund shares may be purchased and sold frequently because the fund is designed to offer a liquid investment option. For this reason, the board has not adopted policies and procedures designed to detect and deter excessive trading of fund shares.

Capital Group Central Cash Fund — Page 35

------

 **Selling shares**

The methods for selling (redeeming) shares are described more fully in Part A of the fund's registration statement.

Except for extraordinary circumstances (and as permissible under the 1940 Act), the fund typically expects to send redemption proceeds one business day following receipt and acceptance of a redemption order. Interest will not accrue or be paid on amounts that represent uncashed distribution or redemption checks.

Capital Group Central Cash Fund — Page 36

------

 **Shareholder account services and privileges**

The following services and privileges are generally available to all shareholders.

**Automatic reinvestment —** Dividends and capital gain distributions will be automatically reinvested in additional shares of the same class and fund at net asset value.

**Account statements —** Your account is opened in accordance with your registration instructions. Transactions in the account, such as additional investments, will be reflected on regular confirmation statements from the Transfer Agent. Dividend and capital gain reinvestments will be confirmed at least quarterly.

**Telephone and Internet purchases, redemptions and exchanges —** By using the telephone or the Internet (including capitalgroup.com), or fax purchase, redemption and/or exchange options, you agree to hold the fund, the Transfer Agent, any of its affiliates or mutual funds managed by such affiliates, and each of their respective directors, trustees, officers, employees and agents harmless from any losses, expenses, costs or liabilities (including attorney fees) that may be incurred in connection with the exercise of these privileges. Generally, all shareholders are automatically eligible to use these services. However, you may elect to opt out of these services by writing the Transfer Agent (you may also reinstate them at any time by writing the Transfer Agent). If the Transfer Agent does not employ reasonable procedures to confirm that the instructions received from any person with appropriate account information are genuine, it and/or the fund may be liable for losses due to unauthorized or fraudulent instructions. In the event that shareholders are unable to reach the fund by telephone because of technical difficulties, market conditions or a natural disaster, redemption and exchange requests may be made in writing only.

**Redemption of shares —** The fund's declaration of trust permits the fund to direct the Transfer Agent to redeem the shares of any shareholder for their then current net asset value per share if at such time the shareholder of record owns shares having an aggregate net asset value of less than the minimum initial investment amount required of new shareholders as the board of trustees of the fund may from time to time adopt.

While payment of redemptions normally will be in cash, the fund's declaration of trust permits payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund's board of trustees. For example, redemptions could be made in this manner if the board determined that making payments wholly in cash over a particular period would be unfair and/or harmful to other fund shareholders.

Capital Group Central Cash Fund — Page 37

------

 **General information**

**Custodian of assets —** Securities and cash owned by the fund, including proceeds from the sale of shares of the fund and of securities in the fund's portfolio, are held by JP Morgan Chase Bank N.A., 270 Park Avenue, New York, NY 10017-2070, as custodian. If a fund holds securities of issuers outside the U.S., the Custodian may hold these securities pursuant to subcustodial arrangements in banks outside the U.S. or branches of U.S. banks outside the U.S.

**Transfer agent services —** American Funds Service Company, a wholly owned subsidiary of the investment adviser, maintains the records of shareholder accounts, processes purchases and redemptions of the fund's shares, acts as dividend and capital gain distribution disbursing agent, and performs other related shareholder service functions. The principal office of American Funds Service Company is located at 6455 Irvine Center Drive, Irvine, CA 92618. Transfer agent fees are paid according to a fee schedule, based on the number of accounts serviced, contained in a Shareholder Services Agreement between the fund and American Funds Service Company.

Compensation for transfer agency services is ultimately paid from fund assets as disclosed in Part A of the fund's registration statement.

During the 2022 fiscal year, transfer agent fees, gross of any payments made by American Funds Service Company to third parties, were $2,000.

The fund's transfer agent is currently waiving transfer agent fees. This waiver will be in effect through at least February 1, 2024. The transfer agent may elect at its discretion to extend, modify or terminate the waiver at that time.

**Independent registered public accounting firm —** PricewaterhouseCoopers LLP, 601 South Figueroa Street, Los Angeles, CA 90017, serves as the fund's independent registered public accounting firm, providing audit services, preparation of tax returns and review of certain documents to be filed with the SEC. The financial statements included in this Part B of the fund's registration statement that are from the fund's annual report have been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report appearing herein. Such financial statements have been so included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. The selection of the fund's independent registered public accounting firm is reviewed and determined annually by the board of trustees.

**Independent legal counsel —** Morgan, Lewis & Bockius LLP, One Federal Street, Boston, MA 02110-1726, serves as independent legal counsel ("counsel") for the fund and for independent trustees in their capacities as such. A determination with respect to the independence of the fund's counsel will be made at least annually by the independent trustees of the fund, as prescribed by applicable 1940 Act rules.

**Registration statements, reports to shareholders and proxy statements —** The fund's fiscal year ends on October 31. Shareholders are provided an updated registration statement annually and at least semi-annually with reports showing the fund's investment portfolio or summary investment portfolio, financial statements and other information. Shareholders may request a copy of the fund's current registration statement at no cost by calling (800) 421-4225. The fund's annual financial statements are audited by the fund's independent registered public accounting firm, PricewaterhouseCoopers LLP. In addition, shareholders may also receive proxy statements for the fund. In an effort to reduce the volume of mail shareholders receive from the fund when a household owns more than one account, the Transfer Agent has taken steps to eliminate duplicate mailings of the registration statements, shareholder reports and proxy statements. To receive additional copies of the registration statement, report or proxy statement, shareholders should contact the Transfer Agent.

Capital Group Central Cash Fund — Page 38

------

Shareholders may also elect to receive the updated registration statement, annual reports and semi-annual reports electronically by signing up for electronic delivery on our website, capitalgroup.com/cmqxx. Shareholders who elect to receive documents electronically will receive such documents in electronic form and will not receive documents in paper form by mail. A shareholder who elects electronic delivery is able to cancel this service at any time and return to receiving the updated registration statement and other reports in paper form by mail.

The registration statement, annual reports and semi-annual reports that are mailed to shareholders by the Capital Group organization are printed with ink containing soy and/or vegetable oil on paper containing recycled fibers.

**Codes of ethics —** The fund and Capital Research and Management Company and its affiliated companies, including the fund's distributor, have adopted codes of ethics that allow for personal investments, including securities in which the fund may invest from time to time. These codes include a ban on acquisitions of securities pursuant to an initial public offering; restrictions on acquisitions of private placement securities; preclearance and reporting requirements; review of duplicate confirmation statements; annual recertification of compliance with codes of ethics; blackout periods on personal investing for certain investment personnel; ban on short-term trading profits for investment personnel; limitations on service as a director of publicly traded companies; disclosure of personal securities transactions; and policies regarding political contributions.

**Other information —** The fund reserves the right to modify the privileges described in this Part B of the fund's registration statement at any time.

The fund's financial statements, including the investment portfolio and the report of the fund's independent registered public accounting firm, are included in this Part B of the fund's registration statement.

Capital Group Central Cash Fund — Page 39

------

 **Appendix**

**Description of commercial paper ratings**

#### Moody's
**Global short-term rating scale**

**P-1**

Issuers (or supporting institutions) rated Prime-1 have a superior ability to repay short-term debt obligations.

**P-2**

Issuers (or supporting institutions) rated Prime-2 have a strong ability to repay short-term debt obligations.

**P-3**

Issuers (or supporting institutions) rated Prime-3 have an acceptable ability to repay short-term obligations.

**NP**

Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories.

**Standard & Poor's**

#### Commercial paper ratings (highest three ratings)
**A-1**

A short-term obligation rated A-1 is rated in the highest category by Standard & Poor's. The obligor's capacity to meet its financial commitment on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor's capacity to meet its financial commitment on these obligations is extremely strong.

**A-2**

A short-term obligation rated A-2 is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor's capacity to meet its financial commitment on the obligation is satisfactory.

#### A-3
A short-term obligation rated A-3 exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.

Capital Group Central Cash Fund — Page 40

------

Investment portfolio October 31, 2022

---

| | |
|:---|:---|
|  | Percent of <br> net assets |
| Short-term securities: |  |
| Repurchase agreements | 39.56% |
| Commercial paper | 31.27 |
| Federal agency bills & notes | 24.40 |
| U.S. Treasury bills | 3.11 |
| Bonds, notes & other debt instruments: |  |
| U.S. Treasury bonds & notes | 1.14 |
| Other assets less liabilities | .52 |
|  | 100.00% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities 98.34%** |  | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Repurchase agreements 39.56%** |  |  |  |  |
| Overnight repurchase agreements\* |  | USD | 73100000 | $**73100000** |
|  | Weighted <br> average yield <br> at acquisition |  |  |  |
| **Commercial paper 31.27%** |  |  |  |  |
| ADP Tax Services, Inc. 11/1/2022<sup>1</sup> | 3.050% |  | 500000 | 499958 |
| ADP Tax Services, Inc. 11/2/2022<sup>1</sup> | 3.070 |  | 200000 | 199966 |
| Amazon.com, Inc. 11/1/2022<sup>1</sup> | 2.530 |  | 200000 | 199983 |
| Amazon.com, Inc. 11/3/2022<sup>1</sup> | 2.300 |  | 150000 | 149960 |
| Amazon.com, Inc. 11/4/2022<sup>1</sup> | 2.305 |  | 100000 | 99964 |
| Amazon.com, Inc. 11/7/2022<sup>1</sup> | 2.600 |  | 100000 | 99933 |
| Amazon.com, Inc. 11/8/2022<sup>1</sup> | 2.350 |  | 50000 | 49961 |
| Amazon.com, Inc. 11/9/2022<sup>1</sup> | 2.410 |  | 150000 | 149869 |
| Amazon.com, Inc. 11/17/2022<sup>1</sup> | 3.405 |  | 200000 | 199663 |
| Amazon.com, Inc. 12/6/2022<sup>1</sup> | 3.060 |  | 50000 | 49814 |
| Amazon.com, Inc. 12/14/2022<sup>1</sup> | 3.560 |  | 125000 | 124423 |
| Amazon.com, Inc. 12/15/2022<sup>1</sup> | 3.553 |  | 231500 | 230406 |
| Amazon.com, Inc. 12/16/2022<sup>1</sup> | 3.650 |  | 355000 | 353282 |
| Amazon.com, Inc. 12/19/2022<sup>1</sup> | 3.680 |  | 100000 | 99481 |
| Apple, Inc. 11/2/2022<sup>1</sup> | 3.050 |  | 80000 | 79986 |
| Apple, Inc. 11/9/2022<sup>1</sup> | 3.100 |  | 100000 | 99913 |
| Apple, Inc. 11/22/2022<sup>1</sup> | 3.350 |  | 100000 | 99779 |
| Apple, Inc. 12/14/2022<sup>1</sup> | 3.655 |  | 294000 | 292650 |
| Atlantic Asset Securitization, LLC 11/1/2022<sup>1</sup> | 3.060 |  | 100000 | 99991 |
| Atlantic Asset Securitization, LLC 11/14/2022<sup>1</sup> | 3.650 |  | 50000 | 49929 |
| Atlantic Asset Securitization, LLC 11/15/2022<sup>1</sup> | 3.370 |  | 7700 | 7688 |
| Atlantic Asset Securitization, LLC 11/17/2022<sup>1</sup> | 2.900 |  | 30227 | 30175 |
| Atlantic Asset Securitization, LLC 11/18/2022<sup>1</sup> | 3.304 |  | 125000 | 124773 |
| Atlantic Asset Securitization, LLC 12/19/2022<sup>1</sup> | 3.600 |  | 25000 | 24867 |
| Atlantic Asset Securitization, LLC 12/28/2022<sup>1</sup> | 3.700 |  | 42960 | 42684 |
| Atlantic Asset Securitization, LLC 1/17/2023<sup>1</sup> | 4.283 |  | 84000 | 83202 |
| Australia & New Zealand Banking Group, Ltd. 11/10/2022<sup>1</sup> | 2.769 |  | 192000 | 191816 |
| Australia & New Zealand Banking Group, Ltd. 12/28/2022<sup>1</sup> | 3.593 |  | 560300 | 556786 |
| Australia & New Zealand Banking Group, Ltd. 12/30/2022<sup>1</sup> | 3.561 |  | 90000 | 89414 |
| Australia & New Zealand Banking Group, Ltd. 1/6/2023<sup>1</sup> | 3.710 |  | 150000 | 148876 |
| Australia & New Zealand Banking Group, Ltd. 1/19/2023<sup>1</sup> | 4.253 |  | 175000 | 173351 |
| Australia & New Zealand Banking Group, Ltd. 1/20/2023<sup>1</sup> | 4.283 |  | 100000 | 99042 |
| Australia & New Zealand Banking Group, Ltd. 1/24/2023<sup>1</sup> | 4.305 |  | 100000 | 98980 |
| Australia & New Zealand Banking Group, Ltd. 2/6/2023<sup>1</sup> | 3.968 |  | 400000 | 395176 |
| Bank of Montreal 11/3/2022<sup>1</sup> | 2.650 |  | 250000 | 249933 |
| Bank of Montreal 11/10/2022<sup>1</sup> | 3.240 |  | 300000 | 299709 |
| Bank of Montreal 11/17/2022<sup>1</sup> | 3.380 |  | 50000 | 49916 |
| Bank of Montreal 11/28/2022<sup>1</sup> | 3.700 |  | 250000 | 249284 |
| Bank of Montreal 12/5/2022<sup>1</sup> | 3.000 |  | 50000 | 49819 |
| Bank of Montreal 1/3/2023<sup>1</sup> | 3.710 |  | 350000 | 347571 |
| Bank of Montreal 1/4/2023<sup>1</sup> | 3.730 |  | 50000 | 49647 |
| Bank of Montreal 1/11/2023<sup>1</sup> | 3.980 |  | 50000 | 49604 |

---

Capital Group Central Cash Fund 3

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |  |
| Bank of Montreal 1/17/2023<sup>1</sup> | 4.130% | USD | 300000 | $297395 |
| Bank of Montreal 1/18/2023<sup>1</sup> | 4.140 |  | 100000 | 99119 |
| Bank of Nova Scotia 11/14/2022<sup>1</sup> | 2.050 |  | 150000 | 149796 |
| Banque et Caisse d'Epargne de L'Etat 11/1/2022 | 1.840 |  | 75000 | 74994 |
| Banque et Caisse d'Epargne de L'Etat 11/9/2022 | 2.540 |  | 115000 | 114900 |
| Banque et Caisse d'Epargne de L'Etat 12/1/2022 | 2.870 |  | 75000 | 74760 |
| BNG Bank NV 11/1/2022<sup>1</sup> | 3.073 |  | 150000 | 149987 |
| BNG Bank NV 11/2/2022<sup>1</sup> | 3.002 |  | 50000 | 49991 |
| BNG Bank NV 11/3/2022<sup>1</sup> | 3.060 |  | 50000 | 49987 |
| BNG Bank NV 11/4/2022<sup>1</sup> | 3.152 |  | 325000 | 324882 |
| BNG Bank NV 11/7/2022<sup>1</sup> | 3.220 |  | 50000 | 49966 |
| BNG Bank NV 11/8/2022<sup>1</sup> | 3.270 |  | 150000 | 149884 |
| BNG Bank NV 11/15/2022<sup>1</sup> | 3.520 |  | 100000 | 99852 |
| BNG Bank NV 11/16/2022<sup>1</sup> | 3.550 |  | 100000 | 99842 |
| BNG Bank NV 11/18/2022<sup>1</sup> | 3.640 |  | 300000 | 299464 |
| BNG Bank NV 11/21/2022<sup>1</sup> | 3.296 |  | 250000 | 249474 |
| BNG Bank NV 11/28/2022<sup>1</sup> | 3.404 |  | 50000 | 49857 |
| BNG Bank NV 12/20/2022<sup>1</sup> | 3.600 |  | 100000 | 99462 |
| BNG Bank NV 12/21/2022<sup>1</sup> | 3.602 |  | 200000 | 198901 |
| BNP Paribas, New York Branch 11/1/2022<sup>1</sup> | 3.050 |  | 50000 | 49996 |
| BNP Paribas, New York Branch 11/4/2022<sup>1</sup> | 2.700 |  | 100000 | 99964 |
| BNP Paribas, New York Branch 11/9/2022<sup>1</sup> | 2.760 |  | 75000 | 74935 |
| BNP Paribas, New York Branch 12/22/2022<sup>1</sup> | 3.560 |  | 50000 | 49724 |
| BNP Paribas, New York Branch 2/1/2023<sup>1</sup> | 4.100 |  | 225000 | 222484 |
| BNP Paribas, New York Branch 2/6/2023<sup>1</sup> | 4.020 |  | 150000 | 148218 |
| BNP Paribas, New York Branch 2/21/2023 | 4.570 |  | 75000 | 73946 |
| BNP Paribas, New York Branch 2/27/2023<sup>1</sup> | 4.510 |  | 100000 | 98506 |
| British Columbia (Province of) 12/1/2022 | 3.140 |  | 20650 | 20584 |
| CAFCO, LLC 11/3/2022<sup>1</sup> | 2.900 |  | 50000 | 49987 |
| CAFCO, LLC 11/15/2022<sup>1</sup> | 3.750 |  | 100000 | 99844 |
| CAFCO, LLC 12/5/2022<sup>1</sup> | 3.070 |  | 50000 | 49815 |
| CAFCO, LLC 12/8/2022<sup>1</sup> | 3.120 |  | 25000 | 24899 |
| CAFCO, LLC 12/9/2022<sup>1</sup> | 3.850 |  | 50000 | 49792 |
| CAFCO, LLC 12/19/2022<sup>1</sup> | 3.900 |  | 50000 | 49733 |
| CAFCO, LLC 1/11/2023<sup>1</sup> | 3.900 |  | 50000 | 49574 |
| CAFCO, LLC 1/17/2023<sup>1</sup> | 4.330 |  | 100000 | 99051 |
| Canadian Imperial Bank of Commerce 11/9/2022<sup>1</sup> | 1.960 |  | 150000 | 149872 |
| Canadian Imperial Bank of Commerce 11/18/2022<sup>1</sup> | 2.070 |  | 100000 | 99827 |
| Canadian Imperial Bank of Commerce 12/28/2022<sup>1</sup> | 2.820 |  | 300000 | 298189 |
| Chariot Funding, LLC 11/2/2022<sup>1</sup> | 2.700 |  | 25000 | 24996 |
| Chariot Funding, LLC 11/21/2022<sup>1</sup> | 2.850 |  | 35000 | 34925 |
| Chariot Funding, LLC 1/3/2023<sup>1</sup> | 3.880 |  | 50000 | 49632 |
| Chariot Funding, LLC 1/4/2023<sup>1</sup> | 3.920 |  | 50000 | 49625 |
| Chariot Funding, LLC 1/9/2023<sup>1</sup> | 3.900 |  | 50000 | 49586 |
| Chariot Funding, LLC 1/23/2023<sup>1</sup> | 4.400 |  | 95000 | 93993 |
| CHARTA, LLC 11/2/2022<sup>1</sup> | 2.900 |  | 50000 | 49991 |
| CHARTA, LLC 11/16/2022<sup>1</sup> | 3.200 |  | 90000 | 89856 |
| CHARTA, LLC 12/9/2022<sup>1</sup> | 3.120 |  | 25000 | 24896 |
| CHARTA, LLC 1/11/2023<sup>1</sup> | 3.900 |  | 69320 | 68728 |
| Coca-Cola Co. 11/2/2022<sup>1</sup> | 2.833 |  | 429700 | 429626 |
| Coca-Cola Co. 11/8/2022<sup>1</sup> | 3.070 |  | 95184 | 95111 |
| Commonwealth Bank of Australia 1/11/2023<sup>1</sup> | 3.566 |  | 250000 | 247962 |
| Commonwealth Bank of Australia 1/12/2023<sup>1</sup> | 3.568 |  | 250000 | 247926 |
| Coöperatieve Rabobank U.A. 11/3/2022 | 3.050 |  | 225000 | 224941 |
| Coöperatieve Rabobank U.A. 11/4/2022 | 3.090 |  | 100000 | 99964 |
| Coöperatieve Rabobank U.A. 11/9/2022 | 3.210 |  | 250000 | 249784 |
| Coöperatieve Rabobank U.A. 11/10/2022 | 3.230 |  | 250000 | 249760 |
| Coöperatieve Rabobank U.A. 11/14/2022 | 3.440 |  | 200000 | 199727 |
| Coöperatieve Rabobank U.A. 11/16/2022 | 3.420 |  | 250000 | 249608 |
| Coöperatieve Rabobank U.A. 11/17/2022 | 3.435 |  | 75000 | 74875 |
| Coöperatieve Rabobank U.A. 11/18/2022 | 3.450 |  | 250000 | 249556 |
| CRC Funding, LLC 11/3/2022<sup>1</sup> | 3.070 |  | 75000 | 74980 |
| CRC Funding, LLC 11/9/2022<sup>1</sup> | 3.300 |  | 16715 | 16700 |
| CRC Funding, LLC 11/15/2022<sup>1</sup> | 3.450 |  | 50000 | 49925 |
| CRC Funding, LLC 11/17/2022<sup>1</sup> | 3.750 |  | 100000 | 99823 |
| CRC Funding, LLC 12/19/2022<sup>1</sup> | 3.900 |  | 50000 | 49732 |

---

Capital Group Central Cash Fund 4

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |  |
| Crédit Agricole Corporate and Investment Bank, <br> New York Branch 11/1/2022 | 3.054% | USD | 258000 | $257978 |
| Crédit Agricole Corporate and Investment Bank, <br> New York Branch 11/9/2022 | 2.858 |  | 125000 | 124892 |
| Crédit Agricole Corporate and Investment Bank, <br> New York Branch 11/15/2022 | 2.890 |  | 100000 | 99853 |
| Crédit Agricole Corporate and Investment Bank, <br> New York Branch 11/22/2022 | 3.350 |  | 100000 | 99780 |
| Crédit Agricole Corporate and Investment Bank, <br> New York Branch 11/23/2022 | 3.020 |  | 85000 | 84804 |
| Crédit Agricole Corporate and Investment Bank, <br> New York Branch 12/12/2022 | 3.630 |  | 175000 | 174225 |
| Crédit Agricole Corporate and Investment Bank, <br> New York Branch 12/15/2022 | 3.950 |  | 100000 | 99522 |
| DBS Bank, Ltd 11/10/2022<sup>1</sup> | 2.850 |  | 122500 | 122381 |
| DBS Bank, Ltd 11/14/2022<sup>1</sup> | 2.860 |  | 100000 | 99862 |
| DBS Bank, Ltd 11/15/2022<sup>1</sup> | 2.868 |  | 100000 | 99852 |
| DBS Bank, Ltd 11/23/2022<sup>1</sup> | 3.054 |  | 246000 | 245431 |
| DBS Bank, Ltd 12/22/2022<sup>1</sup> | 3.590 |  | 150000 | 149157 |
| DBS Bank, Ltd 12/27/2022<sup>1</sup> | 3.622 |  | 165000 | 163966 |
| DBS Bank, Ltd. 11/3/2022<sup>1</sup> | 2.873 |  | 50000 | 49987 |
| DBS Bank, Ltd. 12/14/2022<sup>1</sup> | 3.481 |  | 245000 | 243864 |
| DNB Bank ASA 11/8/2022<sup>1</sup> | 2.885 |  | 200000 | 199851 |
| DNB Bank ASA 2/24/2023<sup>1</sup> | 4.315 |  | 250000 | 246402 |
| Eli Lilly and Co. 12/7/2022<sup>1</sup> | 3.020 |  | 200000 | 199227 |
| EssilorLuxottica 11/7/2022<sup>1</sup> | 3.143 |  | 100000 | 99933 |
| EssilorLuxottica 12/1/2022<sup>1</sup> | 3.465 |  | 32500 | 32397 |
| Estée Lauder Companies, Inc. 11/3/2022<sup>1</sup> | 2.671 |  | 73500 | 73480 |
| Export Development Canada 11/3/2022 | 2.600 |  | 50000 | 49987 |
| Export Development Canada 11/8/2022 | 2.720 |  | 37200 | 37171 |
| Export Development Canada 11/9/2022 | 2.900 |  | 100000 | 99913 |
| Export Development Canada 11/21/2022 | 3.010 |  | 100000 | 99790 |
| Export Development Canada 11/23/2022 | 3.408 |  | 142500 | 142171 |
| Export Development Canada 11/28/2022 | 3.550 |  | 25000 | 24929 |
| Export Development Canada 11/29/2022 | 3.180 |  | 50000 | 49852 |
| Export Development Canada 12/5/2022 | 3.580 |  | 5000 | 4982 |
| Export Development Canada 12/7/2022 | 3.826 |  | 130200 | 129697 |
| Export Development Canada 12/8/2022 | 3.900 |  | 100000 | 99602 |
| Export Development Canada 1/5/2023 | 4.030 |  | 70000 | 69483 |
| Export Development Canada 1/18/2023 | 4.100 |  | 135000 | 133761 |
| Export Development Canada 1/25/2023 | 4.250 |  | 50000 | 49490 |
| Export Development Canada 1/27/2023 | 4.350 |  | 75000 | 74203 |
| ExxonMobil Corp. 11/3/2022 | 3.060 |  | 100000 | 99974 |
| Fairway Finance Company, LLC 11/15/2022<sup>1</sup> | 3.174 |  | 100000 | 99851 |
| Fairway Finance Company, LLC 11/29/2022<sup>1</sup> | 3.400 |  | 47300 | 47156 |
| Fairway Finance Company, LLC 12/13/2022<sup>1</sup> | 3.150 |  | 30000 | 29860 |
| FMS Wertmanagement 11/2/2022<sup>1</sup> | 2.553 |  | 100000 | 99983 |
| Gotham Funding Corp. 11/9/2022<sup>1</sup> | 2.854 |  | 181500 | 181341 |
| Gotham Funding Corp. 12/1/2022<sup>1</sup> | 3.050 |  | 50000 | 49838 |
| Gotham Funding Corp. 12/8/2022<sup>1</sup> | 3.505 |  | 126650 | 126137 |
| Gotham Funding Corp. 12/23/2022<sup>1</sup> | 3.660 |  | 30000 | 29823 |
| Gotham Funding Corp. 1/5/2023<sup>1</sup> | 3.980 |  | 100000 | 99222 |
| Gotham Funding Corp. 1/11/2023<sup>1</sup> | 4.181 |  | 175000 | 173470 |
| Gotham Funding Corp. 1/20/2023<sup>1</sup> | 4.560 |  | 50000 | 49487 |
| Gotham Funding Corp. 1/23/2023<sup>1</sup> | 4.545 |  | 172000 | 170143 |
| Henkel of America, Inc. 11/15/2022<sup>1</sup> | 2.720 |  | 50000 | 49926 |
| Hydro-Québec 11/14/2022<sup>1</sup> | 3.360 |  | 100000 | 99864 |
| Hydro-Québec 11/17/2022<sup>1</sup> | 3.436 |  | 114100 | 113910 |
| Hydro-Québec 11/18/2022<sup>1</sup> | 3.480 |  | 100000 | 99823 |
| ING (U.S.) Funding, LLC 11/4/2022<sup>1</sup> | 2.740 |  | 100000 | 99964 |
| ING (U.S.) Funding, LLC 11/21/2022<sup>1</sup> | 2.920 |  | 300000 | 299367 |
| ING (U.S.) Funding, LLC 11/22/2022<sup>1</sup> | 3.110 |  | 200000 | 199557 |
| ING (U.S.) Funding, LLC 11/23/2022<sup>1</sup> | 3.320 |  | 35300 | 35218 |
| ING (U.S.) Funding, LLC 11/25/2022<sup>1</sup> | 3.323 |  | 215000 | 214456 |
| ING (U.S.) Funding, LLC 12/5/2022<sup>1</sup> | 2.980 |  | 150000 | 149458 |
| ING (U.S.) Funding, LLC 12/19/2022<sup>1</sup> | 3.450 |  | 250000 | 248684 |

---

Capital Group Central Cash Fund 5

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |  |
| ING (U.S.) Funding, LLC 12/23/2022<sup>1</sup> | 3.550% | USD | 400000 | $397682 |
| ING (U.S.) Funding, LLC 2/1/2023<sup>1</sup> | 4.500 |  | 50000 | 49430 |
| Intel Corp. 1/18/2023<sup>1</sup> | 4.200 |  | 200000 | 198187 |
| Intel Corp. 1/24/2023<sup>1</sup> | 4.175 |  | 320000 | 316836 |
| Intel Corp. 1/25/2023<sup>1</sup> | 4.200 |  | 315000 | 311841 |
| International Bank for Reconstruction and Development 11/7/2022 | 3.100 |  | 200000 | 199877 |
| International Bank for Reconstruction and Development 12/19/2022 | 3.566 |  | 650000 | 646713 |
| International Bank for Reconstruction and Development 12/20/2022 | 3.500 |  | 200000 | 198968 |
| International Bank for Reconstruction and Development 1/3/2023 | 3.810 |  | 400000 | 397285 |
| International Bank for Reconstruction and Development 1/9/2023 | 3.900 |  | 200000 | 198458 |
| Johnson & Johnson 11/14/2022<sup>1</sup> | 1.600 |  | 50000 | 49932 |
| Johnson & Johnson 12/1/2022<sup>1</sup> | 2.665 |  | 200000 | 199367 |
| Johnson & Johnson 12/15/2022<sup>1</sup> | 3.471 |  | 197000 | 196069 |
| KfW 11/2/2022<sup>1</sup> | 2.700 |  | 200000 | 199972 |
| KfW 11/14/2022<sup>1</sup> | 2.971 |  | 150000 | 149828 |
| KfW 11/16/2022<sup>1</sup> | 2.779 |  | 50000 | 49933 |
| KfW 11/18/2022<sup>1</sup> | 3.209 |  | 75000 | 74887 |
| KfW 12/8/2022<sup>1</sup> | 3.350 |  | 23000 | 22918 |
| KfW 12/14/2022<sup>1</sup> | 3.412 |  | 100000 | 99583 |
| KfW 12/16/2022<sup>1</sup> | 3.450 |  | 65000 | 64715 |
| KfW 12/21/2022<sup>1</sup> | 3.600 |  | 61750 | 61442 |
| Komatsu Finance America, Inc. 11/8/2022<sup>1</sup> | 2.910 |  | 101000 | 100922 |
| Komatsu Finance America, Inc. 11/15/2022<sup>1</sup> | 3.530 |  | 87400 | 87271 |
| Komatsu Finance America, Inc. 11/23/2022<sup>1</sup> | 3.616 |  | 78400 | 78218 |
| Liberty Street Funding, LLC 11/2/2022<sup>1</sup> | 2.800 |  | 50000 | 49991 |
| Liberty Street Funding, LLC 11/8/2022<sup>1</sup> | 2.900 |  | 50000 | 49961 |
| Liberty Street Funding, LLC 11/15/2022<sup>1</sup> | 2.950 |  | 50000 | 49925 |
| Liberty Street Funding, LLC 11/28/2022<sup>1</sup> | 3.050 |  | 100000 | 99709 |
| Liberty Street Funding, LLC 11/29/2022<sup>1</sup> | 3.050 |  | 175000 | 174471 |
| Liberty Street Funding, LLC 11/30/2022<sup>1</sup> | 3.050 |  | 125000 | 124608 |
| Liberty Street Funding, LLC 12/1/2022<sup>1</sup> | 3.050 |  | 50000 | 49838 |
| Liberty Street Funding, LLC 12/6/2022<sup>1</sup> | 3.100 |  | 100000 | 99618 |
| Liberty Street Funding, LLC 12/12/2022<sup>1</sup> | 3.250 |  | 100000 | 99549 |
| Liberty Street Funding, LLC 12/13/2022<sup>1</sup> | 3.250 |  | 50000 | 49768 |
| Liberty Street Funding, LLC 12/15/2022<sup>1</sup> | 3.494 |  | 180000 | 179124 |
| Liberty Street Funding, LLC 12/22/2022<sup>1</sup> | 3.700 |  | 100000 | 99425 |
| Liberty Street Funding, LLC 12/27/2022<sup>1</sup> | 3.650 |  | 50000 | 49680 |
| Liberty Street Funding, LLC 1/3/2023<sup>1</sup> | 3.800 |  | 50000 | 49630 |
| Liberty Street Funding, LLC 1/5/2023<sup>1</sup> | 3.920 |  | 50000 | 49614 |
| Liberty Street Funding, LLC 1/6/2023<sup>1</sup> | 3.900 |  | 100000 | 99212 |
| Liberty Street Funding, LLC 1/9/2023<sup>1</sup> | 4.020 |  | 50000 | 49582 |
| Liberty Street Funding, LLC 1/10/2023<sup>1</sup> | 4.060 |  | 50000 | 49574 |
| Liberty Street Funding, LLC 1/11/2023<sup>1</sup> | 4.200 |  | 50000 | 49565 |
| Liberty Street Funding, LLC 1/18/2023<sup>1</sup> | 3.920 |  | 100000 | 99011 |
| Liberty Street Funding, LLC 1/19/2023<sup>1</sup> | 4.500 |  | 50000 | 49497 |
| Liberty Street Funding, LLC 1/23/2023<sup>1</sup> | 4.540 |  | 50000 | 49461 |
| Linde, Inc. 11/8/2022 | 3.090 |  | 67900 | 67848 |
| Linde, Inc. 11/9/2022 | 3.110 |  | 6550 | 6544 |
| Linde, Inc. 11/16/2022 | 3.283 |  | 100000 | 99842 |
| Linde, Inc. 11/17/2022 | 3.405 |  | 50000 | 49916 |
| Linde, Inc. 12/5/2022 | 3.530 |  | 75000 | 74731 |
| Linde, Inc. 12/19/2022 | 3.598 |  | 243400 | 242140 |
| Linde, Inc. 2/1/2023 | 4.150 |  | 62500 | 61830 |
| LMA-Americas, LLC 11/3/2022<sup>1</sup> | 2.894 |  | 6650 | 6648 |
| LMA-Americas, LLC 11/10/2022<sup>1</sup> | 2.880 |  | 76815 | 76739 |
| LMA-Americas, LLC 11/14/2022<sup>1</sup> | 3.370 |  | 39000 | 38945 |
| LMA-Americas, LLC 11/23/2022<sup>1</sup> | 3.546 |  | 50000 | 49881 |
| LMA-Americas, LLC 1/3/2023<sup>1</sup> | 3.950 |  | 48660 | 48291 |
| LMA-Americas, LLC 1/13/2023<sup>1</sup> | 3.950 |  | 40000 | 39637 |
| LMA-Americas, LLC 1/19/2023<sup>1</sup> | 4.560 |  | 75000 | 74250 |
| LMA-Americas, LLC 1/26/2023<sup>1</sup> | 4.537 |  | 40000 | 39561 |
| LMA-Americas, LLC 1/31/2023<sup>1</sup> | 4.600 |  | 80000 | 79046 |
| L'Oréal USA, Inc. 11/14/2022<sup>1</sup> | 3.100 |  | 28225 | 28186 |
| L'Oréal USA, Inc. 11/16/2022<sup>1</sup> | 3.160 |  | 2250 | 2246 |
| L'Oréal USA, Inc. 11/18/2022<sup>1</sup> | 3.048 |  | 100000 | 99821 |
| L'Oréal USA, Inc. 11/21/2022<sup>1</sup> | 3.198 |  | 175000 | 174631 |

---

Capital Group Central Cash Fund 6

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |  |
| L'Oréal USA, Inc. 11/22/2022<sup>1</sup> | 3.218% | USD | 150000 | $149667 |
| L'Oréal USA, Inc. 11/28/2022<sup>1</sup> | 3.477 |  | 80120 | 79890 |
| L'Oréal USA, Inc. 11/29/2022<sup>1</sup> | 3.257 |  | 150000 | 149552 |
| L'Oréal USA, Inc. 11/30/2022<sup>1</sup> | 3.286 |  | 200000 | 199381 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 11/8/2022<sup>1</sup> | 2.750 |  | 45000 | 44965 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 11/10/2022<sup>1</sup> | 2.651 |  | 146000 | 145856 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 11/29/2022<sup>1</sup> | 2.967 |  | 50000 | 49847 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 12/2/2022<sup>1</sup> | 2.826 |  | 80000 | 79729 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 12/15/2022<sup>1</sup> | 3.072 |  | 48400 | 48168 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 12/22/2022<sup>1</sup> | 3.551 |  | 210000 | 208801 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 12/23/2022<sup>1</sup> | 3.550 |  | 59750 | 59401 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 1/13/2023<sup>1</sup> | 3.900 |  | 50000 | 49569 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 1/18/2023<sup>1</sup> | 4.050 |  | 75000 | 74303 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 1/18/2023<sup>1</sup> | 4.050 |  | 40000 | 39628 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 1/20/2023<sup>1</sup> | 4.076 |  | 89000 | 88149 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 2/3/2023<sup>1</sup> | 4.170 |  | 69500 | 68704 |
| Manhattan Asset Funding Company, LLC 11/2/2022<sup>1</sup> | 2.750 |  | 20550 | 20546 |
| Manhattan Asset Funding Company, LLC 11/3/2022<sup>1</sup> | 2.930 |  | 74992 | 74972 |
| Manhattan Asset Funding Company, LLC 11/7/2022<sup>1</sup> | 3.190 |  | 50000 | 49966 |
| Manhattan Asset Funding Company, LLC 11/9/2022<sup>1</sup> | 3.197 |  | 100000 | 99912 |
| Manhattan Asset Funding Company, LLC 11/14/2022<sup>1</sup> | 3.182 |  | 80000 | 79889 |
| Manhattan Asset Funding Company, LLC 11/22/2022<sup>1</sup> | 2.920 |  | 25000 | 24944 |
| Manhattan Asset Funding Company, LLC 12/9/2022<sup>1</sup> | 3.150 |  | 75000 | 74688 |
| Manhattan Asset Funding Company, LLC 12/12/2022<sup>1</sup> | 3.430 |  | 50000 | 49774 |
| Manhattan Asset Funding Company, LLC 12/14/2022<sup>1</sup> | 3.430 |  | 50000 | 49763 |
| Manhattan Asset Funding Company, LLC 12/15/2022<sup>1</sup> | 3.650 |  | 60000 | 59708 |
| Manhattan Asset Funding Company, LLC 12/19/2022<sup>1</sup> | 3.650 |  | 35625 | 35434 |
| Manhattan Asset Funding Company, LLC 12/20/2022<sup>1</sup> | 3.650 |  | 47170 | 46912 |
| Manhattan Asset Funding Company, LLC 1/12/2023<sup>1</sup> | 4.210 |  | 100000 | 99130 |
| Manhattan Asset Funding Company, LLC 1/23/2023<sup>1</sup> | 4.270 |  | 50000 | 49474 |
| Manhattan Asset Funding Company, LLC 1/24/2023<sup>1</sup> | 4.270 |  | 50000 | 49465 |
| Manhattan Asset Funding Company, LLC 1/25/2023<sup>1</sup> | 4.550 |  | 50000 | 49456 |
| Manhattan Asset Funding Company, LLC 2/3/2023<sup>1</sup> | 4.570 |  | 50000 | 49397 |
| Mizuho Bank, Ltd. 11/1/2022<sup>1</sup> | 3.125 |  | 200000 | 199983 |
| Mizuho Bank, Ltd. 11/2/2022<sup>1</sup> | 2.876 |  | 405000 | 404930 |
| Mizuho Bank, Ltd. 11/3/2022<sup>1</sup> | 3.117 |  | 225000 | 224940 |
| Mizuho Bank, Ltd. 11/4/2022<sup>1</sup> | 2.825 |  | 150000 | 149946 |
| Mizuho Bank, Ltd. 11/8/2022<sup>1</sup> | 2.875 |  | 100000 | 99924 |
| Mizuho Bank, Ltd. 11/9/2022<sup>1</sup> | 2.870 |  | 150000 | 149871 |
| Mizuho Bank, Ltd. 11/22/2022<sup>1</sup> | 2.910 |  | 50000 | 49890 |
| Mizuho Bank, Ltd. 12/1/2022<sup>1</sup> | 3.035 |  | 34900 | 34789 |
| Mizuho Bank, Ltd. 12/6/2022<sup>1</sup> | 3.075 |  | 125000 | 124534 |
| Mizuho Bank, Ltd. 1/25/2023<sup>1</sup> | 4.360 |  | 250000 | 247404 |
| Mizuho Bank, Ltd. 2/9/2023<sup>1</sup> | 4.440 |  | 50000 | 49374 |
| Nederlandse Waterschapsbank NV 11/3/2022<sup>1</sup> | 2.612 |  | 50000 | 49987 |
| Nederlandse Waterschapsbank NV 11/8/2022<sup>1</sup> | 2.974 |  | 300000 | 299767 |
| Nederlandse Waterschapsbank NV 11/9/2022<sup>1</sup> | 2.823 |  | 200000 | 199859 |
| Nederlandse Waterschapsbank NV 11/14/2022<sup>1</sup> | 3.370 |  | 82500 | 82389 |
| Nederlandse Waterschapsbank NV 11/15/2022<sup>1</sup> | 3.248 |  | 116000 | 115832 |
| Nederlandse Waterschapsbank NV 11/16/2022<sup>1</sup> | 3.288 |  | 72325 | 72213 |
| Nederlandse Waterschapsbank NV 11/17/2022<sup>1</sup> | 3.350 |  | 238100 | 237708 |
| Nederlandse Waterschapsbank NV 11/18/2022<sup>1</sup> | 3.450 |  | 50000 | 49913 |
| Nederlandse Waterschapsbank NV 11/22/2022<sup>1</sup> | 3.450 |  | 220200 | 219724 |
| Nederlandse Waterschapsbank NV 12/5/2022<sup>1</sup> | 3.415 |  | 250000 | 249077 |
| Nederlandse Waterschapsbank NV 12/12/2022<sup>1</sup> | 3.469 |  | 300000 | 298651 |
| Nederlandse Waterschapsbank NV 12/15/2022<sup>1</sup> | 3.483 |  | 150000 | 149272 |
| Nederlandse Waterschapsbank NV 1/23/2023<sup>1</sup> | 4.024 |  | 150000 | 148579 |
| Nederlandse Waterschapsbank NV 1/24/2023<sup>1</sup> | 4.025 |  | 150000 | 148558 |
| Nederlandse Waterschapsbank NV 3/1/2023<sup>1</sup> | 4.438 |  | 150000 | 147762 |
| Nederlandse Waterschapsbank NV 3/2/2023<sup>1</sup> | 4.414 |  | 250000 | 246261 |
| Nordea Bank AB 11/2/2022<sup>1</sup> | 2.655 |  | 150000 | 149974 |
| Nordea Bank AB 11/4/2022<sup>1</sup> | 2.360 |  | 250000 | 249910 |
| Nordea Bank AB 11/7/2022<sup>1</sup> | 2.360 |  | 200000 | 199868 |
| Nordea Bank AB 11/16/2022<sup>1</sup> | 2.715 |  | 75000 | 74883 |
| Nordea Bank AB 11/17/2022<sup>1</sup> | 2.715 |  | 75000 | 74876 |
| Nordea Bank AB 1/23/2023<sup>1</sup> | 4.250 |  | 300000 | 297050 |

---

Capital Group Central Cash Fund 7

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |  |
| Nordea Bank AB 1/24/2023<sup>1</sup> | 4.230% | USD | 100000 | $99002 |
| Nordea Bank AB 1/26/2023<sup>1</sup> | 4.235 |  | 200000 | 197945 |
| Novartis Finance Corp. 11/14/2022<sup>1</sup> | 3.380 |  | 67800 | 67707 |
| NRW.Bank 11/1/2022<sup>1</sup> | 2.548 |  | 75000 | 74994 |
| NRW.Bank 11/4/2022<sup>1</sup> | 2.622 |  | 200000 | 199929 |
| NRW.Bank 11/7/2022<sup>1</sup> | 3.090 |  | 350000 | 349776 |
| NRW.Bank 11/8/2022<sup>1</sup> | 3.102 |  | 262960 | 262767 |
| Oesterreich Kontrollbank 11/2/2022 | 2.745 |  | 26280 | 26275 |
| Oesterreich Kontrollbank 11/4/2022 | 2.964 |  | 260000 | 259906 |
| Oesterreich Kontrollbank 11/18/2022 | 3.248 |  | 210090 | 209715 |
| Oesterreich Kontrollbank 11/21/2022 | 3.257 |  | 95300 | 95099 |
| Oesterreich Kontrollbank 11/23/2022 | 3.300 |  | 207500 | 207019 |
| Oesterreich Kontrollbank 11/30/2022 | 2.950 |  | 56118 | 55945 |
| Oesterreich Kontrollbank 1/11/2023 | 3.711 |  | 85000 | 84292 |
| Oesterreich Kontrollbank 1/17/2023 | 4.020 |  | 160604 | 159133 |
| Oesterreich Kontrollbank 1/20/2023 | 4.126 |  | 283325 | 280610 |
| Old Line Funding, LLC 11/7/2022<sup>1</sup> | 2.775 |  | 100000 | 99932 |
| Old Line Funding, LLC 11/8/2022<sup>1</sup> | 2.930 |  | 74000 | 73942 |
| Old Line Funding, LLC 11/15/2022<sup>1</sup> | 2.970 |  | 40000 | 39940 |
| Old Line Funding, LLC 11/21/2022<sup>1</sup> | 3.289 |  | 100000 | 99787 |
| Old Line Funding, LLC 12/6/2022<sup>1</sup> | 2.971 |  | 50000 | 49808 |
| Old Line Funding, LLC 12/9/2022<sup>1</sup> | 3.500 |  | 50000 | 49790 |
| Old Line Funding, LLC 12/19/2022<sup>1</sup> | 3.403 |  | 50000 | 49728 |
| Old Line Funding, LLC 12/20/2022<sup>1</sup> | 3.496 |  | 50000 | 49722 |
| Old Line Funding, LLC 1/5/2023<sup>1</sup> | 3.779 |  | 100000 | 99229 |
| Old Line Funding, LLC 1/9/2023<sup>1</sup> | 3.860 |  | 50000 | 49583 |
| Old Line Funding, LLC 1/10/2023<sup>1</sup> | 3.867 |  | 150000 | 148725 |
| Old Line Funding, LLC 1/20/2023<sup>1</sup> | 3.923 |  | 100000 | 98985 |
| Old Line Funding, LLC 1/30/2023<sup>1</sup> | 4.328 |  | 45000 | 44465 |
| Ontario (Province of) 11/4/2022 | 3.100 |  | 400000 | 399855 |
| Ontario (Province of) 11/10/2022 | 2.610 |  | 200000 | 199806 |
| Ontario (Province of) 12/13/2022 | 2.850 |  | 50000 | 49774 |
| Ontario (Province of) 11/1/2022 | 2.520 |  | 100000 | 99991 |
| Ontario (Province of) 11/28/2022 | 3.535 |  | 1100000 | 1096864 |
| Oversea-Chinese Banking Corp., Ltd. 11/9/2022<sup>1</sup> | 2.848 |  | 100000 | 99914 |
| Oversea-Chinese Banking Corp., Ltd. 11/10/2022<sup>1</sup> | 2.849 |  | 100000 | 99904 |
| Oversea-Chinese Banking Corp., Ltd. 11/28/2022<sup>1</sup> | 3.376 |  | 200000 | 199429 |
| Oversea-Chinese Banking Corp., Ltd. 11/29/2022<sup>1</sup> | 3.376 |  | 250000 | 249258 |
| Oversea-Chinese Banking Corp., Ltd. 1/9/2023<sup>1</sup> | 3.809 |  | 300000 | 297598 |
| Paccar Financial Corp. 11/1/2022 | 3.070 |  | 10400 | 10399 |
| Paccar Financial Corp. 11/2/2022 | 3.072 |  | 37000 | 36994 |
| Paccar Financial Corp. 11/10/2022 | 3.300 |  | 12400 | 12388 |
| Paccar Financial Corp. 11/14/2022 | 3.370 |  | 13000 | 12982 |
| Paccar Financial Corp. 11/22/2022 | 3.600 |  | 45000 | 44900 |
| Paccar Financial Corp. 11/28/2022 | 3.650 |  | 20000 | 19943 |
| Paccar Financial Corp. 11/30/2022 | 3.700 |  | 20000 | 19938 |
| Procter & Gamble Co. 11/3/2022<sup>1</sup> | 2.550 |  | 65550 | 65533 |
| Procter & Gamble Co. 11/7/2022<sup>1</sup> | 2.560 |  | 100000 | 99933 |
| Procter & Gamble Co. 11/9/2022<sup>1</sup> | 2.610 |  | 90000 | 89922 |
| Procter & Gamble Co. 11/10/2022<sup>1</sup> | 2.650 |  | 75000 | 74927 |
| Procter & Gamble Co. 1/20/2023<sup>1</sup> | 3.960 |  | 100000 | 99080 |
| Procter & Gamble Co. 1/23/2023<sup>1</sup> | 4.120 |  | 147500 | 146084 |
| Procter & Gamble Co. 2/16/2023<sup>1</sup> | 4.200 |  | 50000 | 49352 |
| Prudential Funding, LLC 11/3/2022 | 3.070 |  | 50000 | 49987 |
| Prudential Funding, LLC 11/18/2022 | 3.360 |  | 25000 | 24955 |
| Québec (Province of) 11/1/2022<sup>1</sup> | 3.100 |  | 20000 | 19998 |
| Québec (Province of) 11/7/2022<sup>1</sup> | 3.140 |  | 75000 | 74951 |
| Québec (Province of) 11/9/2022<sup>1</sup> | 3.300 |  | 50000 | 49958 |
| Québec (Province of) 11/10/2022<sup>1</sup> | 3.400 |  | 55000 | 54948 |
| Québec (Province of) 11/14/2022<sup>1</sup> | 3.360 |  | 214000 | 213715 |
| Québec (Province of) 11/15/2022<sup>1</sup> | 3.440 |  | 100000 | 99857 |
| Québec (Province of) 11/21/2022<sup>1</sup> | 3.600 |  | 200000 | 199592 |
| Québec (Province of) 11/23/2022<sup>1</sup> | 3.630 |  | 100000 | 99775 |
| Québec (Province of) 11/25/2022<sup>1</sup> | 3.600 |  | 150000 | 149632 |
| Québec (Province of) 11/28/2022<sup>1</sup> | 3.645 |  | 296400 | 295580 |
| Québec (Province of) 12/15/2022<sup>1</sup> | 3.770 |  | 150000 | 149293 |

---

Capital Group Central Cash Fund 8

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |  |
| Québec (Province of) 12/22/2022<sup>1</sup> | 3.820% | USD | 100000 | $99449 |
| Royal Bank of Canada 12/19/2022<sup>1</sup> | 3.000 |  | 100000 | 99472 |
| Sanofi 12/27/2022<sup>1</sup> | 3.629 |  | 700000 | 695675 |
| Sanofi 12/29/2022<sup>1</sup> | 3.636 |  | 189650 | 188432 |
| Siemens Capital Co., LLC 11/1/2022<sup>1</sup> | 3.050 |  | 200000 | 199983 |
| Siemens Capital Co., LLC 11/3/2022<sup>1</sup> | 3.050 |  | 100000 | 99974 |
| Siemens Capital Co., LLC 11/28/2022<sup>1</sup> | 3.636 |  | 399025 | 397887 |
| Siemens Capital Co., LLC 1/4/2023<sup>1</sup> | 3.800 |  | 100000 | 99287 |
| Siemens Capital Co., LLC 1/5/2023<sup>1</sup> | 3.850 |  | 100000 | 99275 |
| Starbird Funding Corp. 11/1/2022<sup>1</sup> | 3.050 |  | 200000 | 199983 |
| Starbird Funding Corp. 11/4/2022<sup>1</sup> | 2.800 |  | 100000 | 99964 |
| Starbird Funding Corp. 11/8/2022<sup>1</sup> | 2.794 |  | 200000 | 199844 |
| Starbird Funding Corp. 11/9/2022<sup>1</sup> | 2.910 |  | 100000 | 99912 |
| Starbird Funding Corp. 11/29/2022<sup>1</sup> | 3.027 |  | 50000 | 49849 |
| Starbird Funding Corp. 12/2/2022<sup>1</sup> | 3.120 |  | 70000 | 69765 |
| Sumitomo Mitsui Trust Bank, Ltd. 11/9/2022<sup>1</sup> | 2.900 |  | 100000 | 99914 |
| Sumitomo Mitsui Trust Bank, Ltd. 11/14/2022<sup>1</sup> | 2.910 |  | 150000 | 149796 |
| Sumitomo Mitsui Trust Bank, Ltd. 11/15/2022<sup>1</sup> | 3.250 |  | 350000 | 349489 |
| Sumitomo Mitsui Trust Bank, Ltd. 12/1/2022<sup>1</sup> | 3.810 |  | 183350 | 182748 |
| Sumitomo Mitsui Trust Bank, Ltd. 12/2/2022<sup>1</sup> | 3.732 |  | 210800 | 210109 |
| Sumitomo Mitsui Trust Bank, Ltd. 12/6/2022<sup>1</sup> | 3.080 |  | 50000 | 49814 |
| Sumitomo Mitsui Trust Bank, Ltd. 1/5/2023<sup>1</sup> | 3.800 |  | 150000 | 148893 |
| Sumitomo Mitsui Trust Bank, Ltd. 1/10/2023<sup>1</sup> | 4.020 |  | 50000 | 49591 |
| Sumitomo Mitsui Trust Bank, Ltd. 1/17/2023<sup>1</sup> | 4.200 |  | 35000 | 34672 |
| Sumitomo Mitsui Trust Bank, Ltd. 1/18/2023<sup>1</sup> | 4.240 |  | 100000 | 99044 |
| Sumitomo Mitsui Trust Bank, Ltd. 1/30/2023<sup>1</sup> | 4.490 |  | 150000 | 148241 |
| Sumitomo Mitsui Trust Bank, Ltd. 2/2/2023<sup>1</sup> | 4.380 |  | 100000 | 98788 |
| Svenska Handelsbanken, Inc. 11/2/2022<sup>1</sup> | 2.600 |  | 200000 | 199965 |
| Swedish Export Credit Corp. 12/1/2022 | 3.464 |  | 100000 | 99682 |
| Swedish Export Credit Corp. 1/26/2023 | 4.055 |  | 150000 | 148489 |
| Target Corp. 11/7/2022<sup>1</sup> | 3.300 |  | 55000 | 54963 |
| Target Corp. 11/14/2022<sup>1</sup> | 3.381 |  | 434000 | 433402 |
| Target Corp. 11/21/2022<sup>1</sup> | 3.550 |  | 248000 | 247477 |
| Thunder Bay Funding, LLC 11/14/2022<sup>1</sup> | 3.350 |  | 48235 | 48168 |
| Thunder Bay Funding, LLC 11/21/2022<sup>1</sup> | 3.270 |  | 62000 | 61868 |
| Thunder Bay Funding, LLC 1/5/2023<sup>1</sup> | 3.779 |  | 100000 | 99243 |
| Toronto-Dominion Bank 11/14/2022<sup>1</sup> | 3.310 |  | 400000 | 399453 |
| Toronto-Dominion Bank 11/17/2022<sup>1</sup> | 3.410 |  | 100000 | 99832 |
| Toronto-Dominion Bank 11/28/2022<sup>1</sup> | 3.350 |  | 150000 | 149568 |
| Total Capital Canada, Ltd. 11/1/2022<sup>1</sup> | 3.140 |  | 300000 | 299974 |
| TotalEnergies Capital Canada, Ltd. 11/3/2022<sup>1</sup> | 3.125 |  | 198750 | 198697 |
| TotalEnergies Capital Canada, Ltd. 11/7/2022<sup>1</sup> | 3.384 |  | 472500 | 472180 |
| TotalEnergies Capital Canada, Ltd. 11/10/2022<sup>1</sup> | 3.340 |  | 147000 | 146855 |
| TotalEnergies Capital Canada, Ltd. 11/16/2022<sup>1</sup> | 3.420 |  | 362250 | 361659 |
| TotalEnergies Capital Canada, Ltd. 11/18/2022<sup>1</sup> | 3.620 |  | 150000 | 149724 |
| TotalEnergies Capital Canada, Ltd. 11/21/2022<sup>1</sup> | 3.710 |  | 45000 | 44903 |
| TotalEnergies Capital Canada, Ltd. 11/22/2022<sup>1</sup> | 3.570 |  | 243200 | 242648 |
| Toyota Industries Commercial Finance, Inc. 11/14/2022<sup>1</sup> | 3.150 |  | 50000 | 49936 |
| Toyota Industries Commercial Finance, Inc. 12/6/2022<sup>1</sup> | 3.360 |  | 33000 | 32879 |
| Toyota Industries Commercial Finance, Inc. 12/23/2022<sup>1</sup> | 3.580 |  | 14000 | 13923 |
| Toyota Industries Commercial Finance, Inc. 12/27/2022<sup>1</sup> | 3.880 |  | 25000 | 24851 |
| United Overseas Bank, Ltd. 11/2/2022<sup>1</sup> | 2.820 |  | 180250 | 180218 |
| United Overseas Bank, Ltd. 11/3/2022<sup>1</sup> | 2.820 |  | 30500 | 30492 |
| United Overseas Bank, Ltd. 12/8/2022<sup>1</sup> | 3.126 |  | 100000 | 99601 |
| United Overseas Bank, Ltd. 12/12/2022<sup>1</sup> | 3.084 |  | 100000 | 99555 |
| United Overseas Bank, Ltd. 12/13/2022<sup>1</sup> | 3.086 |  | 100000 | 99543 |
| United Overseas Bank, Ltd. 12/16/2022<sup>1</sup> | 3.089 |  | 100000 | 99506 |
| United Overseas Bank, Ltd. 1/3/2023<sup>1</sup> | 4.011 |  | 50000 | 49644 |
| United Overseas Bank, Ltd. 1/5/2023<sup>1</sup> | 3.700 |  | 200000 | 198426 |
| United Overseas Bank, Ltd. 1/13/2023<sup>1</sup> | 4.042 |  | 50000 | 49555 |
| United Overseas Bank, Ltd. 1/17/2023<sup>1</sup> | 4.053 |  | 100000 | 99058 |
| United Overseas Bank, Ltd. 1/18/2023<sup>1</sup> | 4.006 |  | 100000 | 99045 |
| United Overseas Bank, Ltd. 1/25/2023<sup>1</sup> | 4.171 |  | 200000 | 197904 |
| United Overseas Bank, Ltd. 1/26/2023<sup>1</sup> | 4.164 |  | 150000 | 148408 |
| United Overseas Bank, Ltd. 1/31/2023<sup>1</sup> | 4.314 |  | 325000 | 321336 |
| Victory Receivables Corp. 11/1/2022<sup>1</sup> | 2.843 |  | 195000 | 194983 |

---

Capital Group Central Cash Fund 9

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |  |
| Victory Receivables Corp. 11/4/2022<sup>1</sup> | 3.130% | USD | 54000 | $53980 |
| Victory Receivables Corp. 11/7/2022<sup>1</sup> | 2.910 |  | 50000 | 49966 |
| Victory Receivables Corp. 11/21/2022<sup>1</sup> | 2.916 |  | 125000 | 124733 |
| Victory Receivables Corp. 11/22/2022<sup>1</sup> | 2.920 |  | 75000 | 74832 |
| Victory Receivables Corp. 12/1/2022<sup>1</sup> | 3.070 |  | 50000 | 49837 |
| Victory Receivables Corp. 12/14/2022<sup>1</sup> | 3.550 |  | 75000 | 74639 |
| Victory Receivables Corp. 12/19/2022<sup>1</sup> | 3.610 |  | 75000 | 74592 |
| Victory Receivables Corp. 1/9/2023<sup>1</sup> | 4.000 |  | 75000 | 74368 |
| Victory Receivables Corp. 1/11/2023<sup>1</sup> | 4.200 |  | 35000 | 34694 |
| Victory Receivables Corp. 1/13/2023<sup>1</sup> | 4.250 |  | 70000 | 69365 |
| Wal-Mart Stores, Inc. 11/2/2022<sup>1</sup> | 2.980 |  | 150000 | 149974 |
| Wal-Mart Stores, Inc. 11/7/2022<sup>1</sup> | 3.250 |  | 26250 | 26232 |
| Wal-Mart Stores, Inc. 11/14/2022<sup>1</sup> | 3.464 |  | 936000 | 934712 |
| Westpac Banking Corp. 11/1/2022<sup>1</sup> | 2.562 |  | 25070 | 25068 |
|  |  |  |  | **57781124** |
| **Federal agency bills & notes 24.40%** |  |  |  |  |
| **Discount bills & notes 23.05%** |  |  |  |  |
| Federal Farm Credit Banks 11/2/2022 | 2.760 |  | 50000 | 49995 |
| Federal Farm Credit Banks 11/4/2022 | 2.770 |  | 30000 | 29991 |
| Federal Farm Credit Banks 11/8/2022 | 2.920 |  | 60000 | 59958 |
| Federal Farm Credit Banks 11/9/2022 | 2.600 |  | 50000 | 49960 |
| Federal Farm Credit Banks 11/10/2022 | 3.050 |  | 102000 | 101908 |
| Federal Farm Credit Banks 12/9/2022 | 3.500 |  | 250000 | 249022 |
| Federal Farm Credit Banks 12/19/2022 | 3.676 |  | 344000 | 342260 |
| Federal Farm Credit Banks 12/21/2022 | 2.450 |  | 20000 | 19893 |
| Federal Farm Credit Banks 12/23/2022 | 3.120 |  | 150000 | 149169 |
| Federal Farm Credit Banks 12/27/2022 | 2.450 |  | 40000 | 39759 |
| Federal Home Loan Bank 11/1/2022 | 2.853 |  | 1840000 | 1840000 |
| Federal Home Loan Bank 11/2/2022 | 2.582 |  | 1433000 | 1432857 |
| Federal Home Loan Bank 11/3/2022 | 2.510 |  | 1150000 | 1149771 |
| Federal Home Loan Bank 11/4/2022 | 2.622 |  | 561100 | 560932 |
| Federal Home Loan Bank 11/7/2022 | 2.364 |  | 1185300 | 1184588 |
| Federal Home Loan Bank 11/8/2022 | 2.842 |  | 1721950 | 1720744 |
| Federal Home Loan Bank 11/9/2022 | 2.931 |  | 1610950 | 1609661 |
| Federal Home Loan Bank 11/10/2022 | 2.323 |  | 1917700 | 1915973 |
| Federal Home Loan Bank 11/14/2022 | 3.054 |  | 624600 | 623786 |
| Federal Home Loan Bank 11/15/2022 | 2.588 |  | 800000 | 798877 |
| Federal Home Loan Bank 11/16/2022 | 2.859 |  | 1950000 | 1947059 |
| Federal Home Loan Bank 11/17/2022 | 2.287 |  | 500000 | 499196 |
| Federal Home Loan Bank 11/18/2022 | 2.079 |  | 1765800 | 1762783 |
| Federal Home Loan Bank 11/21/2022 | 2.936 |  | 150000 | 149697 |
| Federal Home Loan Bank 11/22/2022 | 2.890 |  | 900000 | 898091 |
| Federal Home Loan Bank 11/23/2022 | 2.778 |  | 350000 | 349222 |
| Federal Home Loan Bank 11/25/2022 | 2.831 |  | 415000 | 413994 |
| Federal Home Loan Bank 11/28/2022 | 1.591 |  | 300000 | 299180 |
| Federal Home Loan Bank 11/30/2022 | 2.122 |  | 500000 | 498533 |
| Federal Home Loan Bank 12/1/2022 | 3.020 |  | 100000 | 99696 |
| Federal Home Loan Bank 12/2/2022 | 2.751 |  | 801525 | 799011 |
| Federal Home Loan Bank 12/5/2022 | 1.550 |  | 500000 | 498280 |
| Federal Home Loan Bank 12/6/2022 | 1.528 |  | 400000 | 398566 |
| Federal Home Loan Bank 12/7/2022 | 3.014 |  | 700000 | 697419 |
| Federal Home Loan Bank 12/8/2022 | 2.607 |  | 1350000 | 1344885 |
| Federal Home Loan Bank 12/12/2022 | 2.591 |  | 600000 | 597451 |
| Federal Home Loan Bank 12/13/2022 | 3.500 |  | 2053800 | 2044862 |
| Federal Home Loan Bank 12/14/2022 | 3.399 |  | 1065000 | 1060255 |
| Federal Home Loan Bank 12/15/2022 | 3.402 |  | 725000 | 721695 |
| Federal Home Loan Bank 12/16/2022 | 3.576 |  | 536000 | 533471 |
| Federal Home Loan Bank 12/19/2022 | 3.746 |  | 440000 | 437786 |
| Federal Home Loan Bank 12/20/2022 | 3.584 |  | 1667500 | 1658936 |
| Federal Home Loan Bank 12/21/2022 | 3.653 |  | 2235109 | 2223256 |
| Federal Home Loan Bank 12/22/2022 | 3.702 |  | 451000 | 448561 |
| Federal Home Loan Bank 12/23/2022 | 3.550 |  | 2598700 | 2584370 |
| Federal Home Loan Bank 12/28/2022 | 3.562 |  | 470000 | 467127 |

---

Capital Group Central Cash Fund 10

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Federal agency bills & notes (continued)** |  |  |  |  |
| **Discount bills & notes (continued)** |  |  |  |  |
| Federal Home Loan Bank 12/30/2022 | 3.492% | USD | 485750 | $482677 |
| Federal Home Loan Bank 1/3/2023 | 3.706 |  | 900000 | 893923 |
| Federal Home Loan Bank 1/4/2023 | 3.557 |  | 314000 | 311846 |
| Federal Home Loan Bank 1/6/2023 | 3.607 |  | 200000 | 198572 |
| Federal Home Loan Bank 1/9/2023 | 3.670 |  | 421100 | 417957 |
| Federal Home Loan Bank 1/11/2023 | 3.665 |  | 340000 | 337363 |
| Federal Home Loan Bank 1/12/2023 | 3.645 |  | 180500 | 179081 |
| Federal Home Loan Bank 1/13/2023 | 3.770 |  | 600000 | 595217 |
| Federal Home Loan Bank 1/17/2023 | 3.680 |  | 590000 | 584992 |
| Federal Home Loan Bank 1/20/2023 | 3.740 |  | 1236100 | 1225098 |
|  |  |  |  | **42589212** |
|  | Coupon rate |  |  |  |
| **Interest bearing bills & notes 1.35%** |  |  |  |  |
| Federal Home Loan Bank (USD-SOFR + 0.02%) 4/21/2023<sup>2</sup> | 2.290 |  | 250000 | 249965 |
| Federal Home Loan Bank (USD-SOFR + 0.03%) 12/5/2022<sup>2</sup> | 2.330 |  | 150000 | 150003 |
| Federal Home Loan Bank (USD-SOFR + 0.03%) 3/21/2023<sup>2</sup> | 2.300 |  | 150000 | 149994 |
| Federal Home Loan Bank (USD-SOFR + 0.04%) 12/27/2022<sup>2</sup> | 1.570 |  | 200000 | 200008 |
| Federal Home Loan Bank (USD-SOFR + 0.04%) 1/26/2023<sup>2</sup> | 3.080 |  | 250000 | 250013 |
| Federal Home Loan Bank (USD-SOFR + 0.04%) 1/30/2023<sup>2</sup> | 3.080 |  | 200000 | 200016 |
| Federal Home Loan Bank (USD-SOFR + 0.04%) 1/30/2023<sup>2</sup> | 3.080 |  | 100000 | 100005 |
| Federal Home Loan Bank (USD-SOFR + 0.04%) 3/27/2023<sup>2</sup> | 2.300 |  | 200000 | 199996 |
| Federal Home Loan Bank (USD-SOFR + 0.04%) 4/5/2023<sup>2</sup> | 3.030 |  | 150000 | 149998 |
| Federal Home Loan Bank (USD-SOFR + 0.045%) 5/23/2023<sup>2</sup> | 2.315 |  | 150000 | 149988 |
| Federal Home Loan Bank (USD-SOFR + 0.05%) 4/4/2023<sup>2</sup> | 3.060 |  | 200000 | 200008 |
| Federal Home Loan Bank (USD-SOFR + 0.055%) 3/2/2023<sup>2</sup> | 3.105 |  | 200000 | 200000 |
| Federal Home Loan Bank (USD-SOFR + 0.055%) 4/4/2023<sup>2</sup> | 3.035 |  | 300000 | 300041 |
|  |  |  |  | **2500035** |
| **Total federal agency bills & notes** |  |  |  | **45089247** |
|  | Weighted<br> average yield<br> at acquisition |  |  |  |
| **U.S. Treasury bills 3.11%** |  |  |  |  |
| U.S. Treasury 11/15/2022 | 2.553 |  | 650000 | 649239 |
| U.S. Treasury 11/17/2022 | 2.515 |  | 150000 | 149811 |
| U.S. Treasury 11/22/2022 | 2.596 |  | 1450000 | 1447209 |
| U.S. Treasury 11/25/2022 | 1.497 |  | 400000 | 399127 |
| U.S. Treasury 11/29/2022 | 2.559 |  | 700000 | 698051 |
| U.S. Treasury 12/1/2022 | 1.932 |  | 700000 | 698002 |
| U.S. Treasury 12/8/2022 | 1.743 |  | 302600 | 301534 |
| U.S. Treasury 12/15/2022 | 3.163 |  | 250000 | 248937 |
| U.S. Treasury 12/29/2022 | 2.449 |  | 300000 | 298158 |
| U.S. Treasury 1/19/2023 | 3.878 |  | 850000 | 842632 |
|  |  |  |  | **5732700** |
| **Total short-term securities** (cost: $181,741,660,000) |  |  |  | **181703071** |

---

Capital Group Central Cash Fund 11

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 1.14%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. Treasury bonds & notes 1.14%** |  |  |  |
| U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.049%) 4.090% 1/31/2023<sup>2</sup> | USD | 350000 | $350270 |
| U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.034%) 4.075% 4/30/2023<sup>2</sup> |  | 700000 | 700632 |
| U.S. Treasury (3-month U.S. Treasury Bill Yield + 0.029%) 4.070% 7/31/2023<sup>2</sup> |  | 834800 | 835391 |
| U.S. Treasury (3-month U.S. Treasury Bill Yield + 3.70%) 4.078%7/31/2024<sup>2</sup> |  | 225000 | 224729 |
| **Total bonds, notes & other debt instruments** (cost: $2,109,745,000) |  |  | **2111022** |
| **Total investment securities 99.48%** (cost: $183,851,405,000) |  |  | **183814093** |
| Other assets less liabilities 0.52% |  |  | 963290 |
| **Net assets 100.00%** |  |  | $**184777383** |

---

**\*Repurchase agreements**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Lending<br> rate** | **Settlement<br> date** | **Maturity<br> date** | **Collateralized by** | **Collateral<br> received,<br> at value<br> (000)** | **Repurchase<br> agreement,<br> at value<br> (000)** | **Repurchase<br> agreement<br> proceeds<br> to be<br> received<br> (000)** |
| JPMorgan Securities | 3.05% | 10/31/2022 | 11/1/2022 | U.S. Treasury 0.125%-4.075% 2023-2027 | $1122000 | $1100000 | $1100093 |
| New York Federal Reserve | 3.05 | 10/31/2022 | 11/1/2022 | U.S. Treasury 1.625%-7.125% 2023-2044 | 71706075 | 71700000 | 71706075 |
| RBC Dominion Securities | 3.05 | 10/31/2022 | 11/1/2022 | U.S. Treasury 0%-6.125% 2022-2032 | 102000 | 100000 | 100008 |
| Societe Generale Bank | 3.00 | 10/31/2022 | 11/1/2022 | U.S. Treasury 1.125%-2.75% 2025-2029 | 204000 | 200000 | 200017 |
|  |  |  |  |  | $73134075 | $73100000 | $73106193 |

---

<sup>1</sup> Acquired in a transaction exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $47,768,573,000, which represented 25.85% of the net assets of the fund.

<sup>2</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

**Key to abbreviations**

SOFR = Secured Overnight Financing Rate

USD = U.S. dollars

Refer to the notes to financial statements.

Capital Group Central Cash Fund 12

Financial statements

---

| | |
|:---|:---|
| **Statement of assets and liabilities** |  |
| **at October 31, 2022** | **(dollars in thousands)** |

---

---

| | | |
|:---|:---|:---|
| **Assets:** | | |
| Investment securities in unaffiliated issuers, at value (cost: $110,751,405) |  | $110714093 |
| Repurchase agreements (cost: $73,100,000) |  | 73100000 |
| Cash |  | 1609760 |
| Receivables for: |  |  |
| Sales of fund's shares | $1396307 |  |
| Interest | 17417 | 1413724 |
|  |  | 186837577 |
| **Liabilities:** |  |  |
| Payables for: |  |  |
| Purchases of investments | 1082947 |  |
| Repurchases of fund's shares | 970687 |  |
| Dividends on fund's shares | 6230 |  |
| Trustees' deferred compensation | 219 |  |
| Other | 111 | 2060194 |
| **Net assets at October 31, 2022** |  | $184777383 |
| **Net assets consist of:** |  |  |
| Capital paid in on shares of beneficial interest |  | $184808584 |
| Total accumulated loss |  | (31201) |
| **Net assets at October 31, 2022** |  | $184777383 |

---

(dollars and shares in thousands, except per-share amounts)

**Shares of beneficial interest issued and outstanding (no stated par value) —<br> unlimited shares authorized (1,848,085 total shares outstanding)**

---

| | | | |
|:---|:---|:---|:---|
|  | **Net assets** | **Shares<br> outstanding** | **Net asset value<br> per share** |
| Class M | $184777383 | 1848085 | $99.98 |

---

Refer to the notes to financial statements.

Capital Group Central Cash Fund 13

Financial statements (continued)

---

| | |
|:---|:---|
| **Statement of operations** |  |
| **for the year ended October 31, 2022** | **(dollars in thousands)** |

---

---

| | | |
|:---|:---|:---|
| **Investment income:** | | |
| Income: |  |  |
| Interest |  | $1839441 |
| **Fees and expenses:** |  |  |
| Reports to shareholders | $11 |  |
| Registration statement and prospectus | 1 |  |
| Trustees' compensation | 126 |  |
| Auditing and legal | 100 |  |
| Custodian | 361 |  |
| Other | 16 | 615 |
| Net investment income |  | 1838826 |
| **Net realized gain and unrealized depreciation:** |  |  |
| Net realized gain on investments |  | 2 |
| Net unrealized depreciation on investments |  | (35952) |
| Net realized gain and unrealized depreciation |  | (35950) |
| **Net increase in net assets resulting from operations** |  | $1802876 |

---

---

| | |
|:---|:---|
| **Statements of changes in net assets** |  |
|  | **(dollars in thousands)** |

---

---

| | | |
|:---|:---|:---|
|  | **Year ended October 31,** | **Year ended October 31,** |
|  | **2022** | **2021** |
| **Operations:** |  |  |
| Net investment income | $1838826 | $92046 |
| Net realized gain (loss) | 2 | (327) |
| Net unrealized depreciation | (35952) | (5199) |
| Net increase in net assets resulting from operations | 1802876 | 86520 |
| **Distributions paid or accrued to shareholders** | (1832474) | (91959) |
| **Net capital share transactions** | 72339582 | (8029779) |
| **Total increase (decrease) in net assets** | 72309984 | (8035218) |
| **Net assets:** |  |  |
| Beginning of year | 112467399 | 120502617 |
| End of year | $184777383 | $112467399 |

---

Refer to the notes to financial statements.

Capital Group Central Cash Fund 14

Notes to financial statements

**1. Organization**

Capital Group Central Fund Series (the "trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end, diversified management investment company and has initially issued one series of shares, Capital Group Central Cash Fund (the "fund"). The fund seeks to provide income on cash reserves while preserving capital and maintaining liquidity.

The fund manages cash balances for Capital Group and other funds, investment vehicles and accounts advised by Capital Group affiliates, and is not available to the public. The fund is an institutional prime money market fund with a floating net asset value.

**2. Significant accounting policies**

The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the fund's investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

**Cash** — Cash may include amounts held in an interest bearing deposit facility.

**Security transactions and related investment income** — Security transactions are recorded by the fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the fund will segregate liquid assets sufficient to meet its payment obligations. Interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

**Distributions paid or accrued to shareholders** — Income dividends are declared daily after the determination of the fund's net investment income and are paid to shareholders monthly.

**3. Valuation**

Capital Research and Management Company ("CRMC"), the fund's investment adviser, values the fund's investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. The fund's net asset value will vary as a result of changes in the value of the securities in which the fund invests.

**Methods and inputs** — The fund's investment adviser uses the following methods and inputs to establish the fair value of the fund's assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Fixed income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Repurchase agreements and daily variable rate notes are generally valued at par. When the fund's investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or not deemed to be representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund's investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund's investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with SEC rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined.

Capital Group Central Cash Fund 15

Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

**Processes and structure** — The fund's board of trustees has designated the fund's investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Fair Valuation Committee") to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees with supplemental information to support the changes. The fund's board and audit committee also regularly review reports that describe fair value determinations and methods.

The fund's investment adviser has also established a Fixed Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser's global risk management group.

**Classifications** — The fund's investment adviser classifies the fund's assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. As of October 31, 2022, all of the fund's investment securities were classified as Level 2.

**4. Risk factors**

Investing in the fund may involve certain risks including, but not limited to, those described below.

**Market conditions** — The prices of, and the income generated by, the securities held by the fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund's investments may be negatively affected by developments in other countries and regions.

**Investing outside the U.S.** — The fund invests in commercial paper and other short-term bank obligations that are issued by entities domiciled outside the U.S., or with significant operations or revenues outside the U.S. Such securities may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers operate or generate revenue. Investments outside the U.S. may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

Capital Group Central Cash Fund 16

**Investing in cash equivalents** — Cash equivalents, such as commercial paper, asset-backed commercial paper, short term-bank obligations and corporate bonds and notes that mature or may be redeemed or mature within thirteen months or less, like other fixed income instruments are subject to interest rate risk. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper is often unsecured, but may be supported by letters of credit or other forms of collateral. Maturing commercial paper are usually repaid by the issuer from the proceeds of new commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. As with all fixed income securities, there is a chance that the issuer will default on its short-term obligations and these securities may become illiquid or suffer from reduced liquidity in these or other situations.

I**nvesting in securities backed by the U.S. government** — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government. U.S. government securities are subject to market risk, interest rate risk and credit risk.

**Interest rate risk** — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield and, given the current low interest rate environment, risks associated with rising rates are currently heightened.

**Investing in repurchase agreements** — Upon entering into a repurchase agreement, the fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund's cost with interest. The security purchased by the fund constitutes collateral for the seller's repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also incur disposition costs and encounter procedural delays in connection with liquidating the collateral.

**Financial services risk** — A significant portion of the fund's portfolio may be comprised of securities issued by companies in the financial services industry. As a result, the fund may be more susceptible to any economic, business, political or other developments which generally affect this industry sector. The profitability of many types of financial companies may be adversely affected in certain market cycles, including during periods of rising interest rates, which may restrict the availability and increase the cost of capital, and declining economic conditions, which may cause credit losses due to financial difficulties of borrowers. Because many types of financial services companies are vulnerable to these economic cycles, the fund's investments may lose value during such periods.

**Management** — The investment adviser to the fund actively manages the fund's investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results.

**5. Certain investment techniques**

**Repurchase agreements** — The fund has entered into repurchase agreements, under which the fund purchases a security from a bank or broker-dealer and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased by the fund constitutes collateral for the seller's repurchase obligation, a repurchase agreement is effectively a loan by the fund that is collateralized by the security purchased. The fund will only enter into repurchase agreements involving securities of the type (excluding any maturity limitations) in which it could otherwise invest that are held at a custodian bank and are fully collateralized by cash or U.S. government securities.

Capital Group Central Cash Fund 17

**6. Taxation and distributions**

**Federal income taxation** — The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the year ended October 31, 2022, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the year, the fund did not incur any significant interest or penalties.

The fund's tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction's statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

**Non-U.S. taxation** — Interest income is recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. If applicable, the fund records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

**Distributions** — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as short-term capital gains and losses; deferred expenses and net capital losses. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.

As of October 31, 2022, the tax basis components of distributable earnings, unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):

---

| | |
|:---|:---|
| Undistributed ordinary income | $12885 |
| Capital loss carryforward\* | (325) |
| Gross unrealized appreciation on investments | 1646 |
| Gross unrealized depreciation on investments | (38958) |
| Net unrealized depreciation on investments | (37312) |
| Cost of investments | 183851405 |

---

\* Reflects the utilization of capital loss carryforward of $2,000. The capital loss carryforward will be used to offset any capital gains realized by the fund in future years. The fund will not make distributions from capital gains while a capital loss carryforward remains.

Tax-basis distributions paid or accrued to shareholders from ordinary income were as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
| | **Year ended October 31** | **Year ended October 31** |
| <br>**Share class** | **2022** | **2021** |
| Class M | $1832474 | $91959 |

---

**7. Fees and transactions with related parties**

CRMC, the fund's investment adviser, is the parent company of American Funds Distributors<sup>®</sup>, Inc. ("AFD"), the principal underwriter of the fund's shares, and American Funds Service Company<sup>®</sup> ("AFS"), the fund's transfer agent. CRMC, AFD and AFS are considered related parties to the fund.

**Transfer agent services** — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to the fund. These services include recordkeeping and transaction processing.

Capital Group Central Cash Fund 18

**Trustees' deferred compensation** — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the fund. Trustees' compensation of $126,000 in the fund's statement of operations reflects $124,000 in current fees (either paid in cash or deferred) and a net increase of $2,000 in the value of the deferred amounts.

**Affiliated officers and trustees** — Officers and certain trustees of the fund are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from the fund.

**Security transactions with related funds** — The fund purchased investment securities from other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund's board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. Each transaction was executed at the current market price of the security and no brokerage commissions or fees were paid in accordance with Rule 17a-7 of the 1940 Act. During the year ended October 31, 2022, the fund engaged in such purchase transactions with related funds in the amount of $74,985,000.

**Interfund lending** — Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund lent $10,000 at a rate of 2.435% to one or more CRMC-managed funds during the year ended October 31, 2022. The fund received less than $1,000 in interest income from the loan.

**8. Indemnifications**

The fund's organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that provide general indemnifications. The fund's maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to the fund's board members and officers.

**9. Capital share transactions**

Capital share transactions in the fund were as follows (dollars and shares in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales** | **Sales** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases** | **Repurchases** | **Net increase<br> (decrease)** | **Net increase<br> (decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended October 31, 2022** | **Year ended October 31, 2022** | **Year ended October 31, 2022** |  |  |  |  |  |  |
| Class M | $405586978 | 4056210 | $1804186 | 18045 | $(335051582) | (3350797) | $72339582 | 723458 |
| **Year ended October 31, 2021** | **Year ended October 31, 2021** | **Year ended October 31, 2021** |  |  |  |  |  |  |
| Class M | $379766850 | 3797330 | $91541 | 916 | $(387888170) | (3878543) | $(8029779) | (80297) |

---

Capital Group Central Cash Fund 19

Financial highlights

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income from<br> investment operations<sup>1</sup>** | **Income from<br> investment operations<sup>1</sup>** | **Income from<br> investment operations<sup>1</sup>** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** |<br>**Dividends<br> (from net<br> investment<br> income)** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total<br> return** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses<br> to average<br> net assets** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **Class M:** | | | | | | | | |  | |
| 10/31/2022 | $100.00 | $1.21 | $(.21) | $1.00 | $(1.02) | $99.98 | 1.01% | $184777 | —%<sup>2</sup> | 1.21% |
| 10/31/2021 | 100.01 | .08 | (.01) | .07 | (.08) | 100.00 | .06 | 112467 | —<sup>2</sup> | .08 |
| 10/31/2020 | 100.01 | .77 | .06 | .83 | (.83) | 100.01 | .83 | 120503 | —<sup>2</sup> | .77 |
| 10/31/2019<sup>3,4</sup> | 100.00 | 1.60 | .01 | 1.61 | (1.60) | 100.01 | 1.62<sup>5</sup> | 119761 | —<sup>2,6</sup> | 2.31<sup>6</sup> |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Amount less than .01%.

<sup>3</sup> Based on operations for a period that is less than a full year.

<sup>4</sup> Class M shares began investment operations on February 22, 2019.

<sup>5</sup> Not annualized.

<sup>6</sup> Annualized.

Refer to the notes to financial statements.

Capital Group Central Cash Fund 20

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Capital Group Central Fund Series and Shareholders of Capital Group Central Cash Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities, including the investment portfolio, of Capital Group Central Cash Fund (constituting Capital Group Central Fund Series, referred to hereafter as the "Fund") as of October 31, 2022, the related statement of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2022 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2022 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Los Angeles, California

December 16, 2022

We have served as the auditor of one or more investment companies in The Capital Group Companies Investment Company Complex since 1934.

Capital Group Central Cash Fund 21

**Capital Group Central Fund Series**

Part C

Other Information

**Item 28.** **Exhibits for Registration Statement** (1940 Act No. 811-23391)

(a) **Articles of Incorporation** – Certificate of Trust effective 1/19/18 and Agreement and Declaration
 of Trust dated 1/1/19 – previously filed ([see Amendment No. 1 filed 2/22/19](http://www.sec.gov/Archives/edgar/data/1757150/000005193119000155/exha.htm))

(b) **By-laws** – By-laws – previously filed ([see Amendment No. 1 filed 2/22/19](http://www.sec.gov/Archives/edgar/data/1757150/000005193119000155/exhb.htm))

(c) **Instruments Defining Rights of Security Holders** – None

(d) **Investment Advisory Contracts** – Investment Advisory and Service Agreement dated 5/1/18 –
 previously filed ([see Amendment No. 1 filed 2/22/19](http://www.sec.gov/Archives/edgar/data/1757150/000005193119000155/exhd.htm))

(e) **Underwriting Contracts** – Distribution Agreement dated 5/1/21 – previously filed ([see Amendment No 4 filed 1/31/22](http://www.sec.gov/Archives/edgar/data/1757150/000005193122000096/exhe.htm))

(f) **Bonus or Profit Sharing Contracts** – Deferred Compensation Plan effective 1/1/20 –
 previously filed ([see Amendment No. 2 filed 1/31/20](http://www.sec.gov/Archives/edgar/data/1757150/000005193120000120/exhf.htm))

(g) **Custodian Agreements** – Global Custody Agreement – previously filed ([see Amendment No. 1 filed 2/22/19](http://www.sec.gov/Archives/edgar/data/1757150/000005193119000155/exhg.htm))

---

| | |
|:---|:---|
| (h-1) | **Other Material Contracts** – Indemnification Agreement – previously filed ([see Amendment No. 1 filed 2/22/19](http://www.sec.gov/Archives/edgar/data/1757150/000005193119000155/exhh.htm)) |

---

(h-2) [Shareholder Services Agreement dated 1/1/23](exhh.htm)

(i) Not
 applicable

(j) Not
 applicable

(k) Not applicable

(l) **Initial capital agreements** – Initial capital agreements – previously filed ([see Amendment No. 1 filed 2/22/19](http://www.sec.gov/Archives/edgar/data/1757150/000005193119000155/exhl.htm))

(m) Not
 applicable

(n) Not
 applicable

(o) Reserved

(p) **Code of Ethics** – [Code of Ethics for The Capital Group Companies dated December 2022 and Code of Ethics for Registrant](exhp.htm)

**Item 29.** **Persons Controlled by or Under Common Control with the Fund**

None

**Item 30.** **Indemnification**

The Registrant is a joint-insured under Investment Adviser/Mutual Fund Errors and Omissions Policies, which insure its officers and trustees against certain liabilities. However, in no event will Registrant maintain insurance to indemnify any such person for any act for which Registrant itself is not permitted to indemnify the individual.

Article 8 of the Registrant's Declaration of Trust as well as the indemnification agreements that the Registrant has entered into with each of its trustees who is not an "interested person" of the Registrant (as defined under the Investment Company Act of 1940, as amended), provide in effect that the Registrant will indemnify its officers and trustees against any liability or expenses actually and reasonably incurred by such person in any proceeding arising out of or in connection with his or her service to the Registrant, to the fullest extent permitted by applicable law, subject to certain conditions. In accordance with Section 17(h) and 17(i) of the Investment Company Act of 1940, as amended, and their respective terms, these provisions do not protect any person against any liability to the Registrant or its shareholders to which such person would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office.

Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to trustees, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a trustee, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such trustee, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

Registrant will comply with the indemnification requirements contained in the Investment Company Act of 1940, as amended, and Release Nos. 7221 (June 9, 1972) and 11330 (September 4, 1980).

**Item 31.** **Business and Other Connections of the Investment Adviser**

None

**Item 32.** **Principal Underwriters**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) American Funds Distributors, Inc. is the Principal Underwriter of shares of: AMCAP Fund, American Balanced Fund, American Funds College Target Date Series, American Funds Corporate Bond Fund, American Funds Developing World Growth and Income Fund, American Funds Emerging Markets Bond Fund, American Funds Fundamental Investors, American Funds Global Balanced Fund, American Funds Global Insight Fund, The American Funds Income Series, American Funds Inflation Linked Bond Fund, American Funds International Vantage Fund, American Funds Mortgage Fund, American Funds Multi-Sector Income Fund, American Funds Portfolio Series, American Funds Retirement Income Portfolio Series, American Funds Short-Term Tax-Exempt Bond Fund, American Funds Strategic Bond Fund, American Funds Target Date Retirement Series, American Funds Tax-Exempt Fund of New York, The American Funds Tax-Exempt Series II, American Funds U.S. Government Money Market Fund, American High-Income Municipal Bond Fund, American High-Income Trust, American Mutual Fund, The Bond Fund of America, Capital Income Builder, Capital Group Core Equity ETF, Capital Group Dividend Value ETF, Capital Group Fixed Income ETF Trust, Capital Group Global Growth Equity ETF, Capital Group Growth ETF, Capital Group International Focus Equity ETF, Capital Group Private Client Services Funds, Capital Group U.S. Equity Fund, Capital World Bond Fund, Capital World Growth and Income Fund, Emerging Markets Growth Fund, Inc., EuroPacific Growth Fund, The Growth Fund of America, The Income Fund of America, Intermediate Bond Fund of America, International Growth and Income Fund, The Investment Company of America, Limited Term Tax-Exempt Bond Fund of America, The New Economy Fund, New Perspective Fund, New World Fund, Inc., Short-Term Bond Fund of America, SMALLCAP World Fund, Inc., The Tax-Exempt Bond Fund of America and Washington Mutual Investors Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ---

| | | | |
|:---|:---|:---|:---|
|  | **<u>(1)</u>**<br> **<u>Name and Principal</u>** <br> **<u>Business Address</u>** | **<u>(2)</u>**<br> **<u>Positions and Offices</u>**<br> **<u>with Underwriter</u>** | **<u>(3)</u>**<br> **<u>Positions and Offices</u>**<br> **<u>with Registrant</u>** |
| LAO | Anuj K. Agarwal | Vice President |  |
| LAO | Albert Aguilar, Jr. | Director, Vice President and Chief Compliance Officer |  |
| LAO | C. Thomas Akin II | Vice President |  |
| LAO | Mark G. Alteri | Regional Vice President |  |
| LAO | Colleen M. Ambrose | Vice President |  |
| LAO | Christopher S. Anast | Senior Vice President, Capital Group Institutional Investment Services Division |  |
| LAO | Dion T. Angelopoulos | Assistant Vice President |  |
| CHO | Erik J. Applegate | Vice President, Capital Group Institutional Investment Services Division |  |
| LAO | Luis F. Arocha | Vice President |  |
| LAO | Keith D. Ashley | Regional Vice President |  |
| LAO | Julie A. Asher | Assistant Vice President |  |
| LAO | Curtis A. Baker | Senior Vice President, Capital Group Institutional Investment Services Division |  |
| LAO | T. Patrick Bardsley | Senior Vice President |  |

---

---

| | | |
|:---|:---|:---|
| SNO | Mark C. Barile | Assistant Vice President |
| LAO | Shakeel A. Barkat | Senior Vice President |
| LAO | Jefferson F. Bartley, Jr. | Regional Vice President |
| LAO | Antonio M. Bass | Regional Vice President |
| LAO | Andrew Z. Bates | Assistant Vice President |
| LAO | Brett A. Beach | Assistant Vice President |
| LAO | Katherine A. Beattie | Senior Vice President |
| LAO | Scott G. Beckerman | Senior Vice President |
| LAO | Bethann Beiermeister | Regional Vice President |
| LAO | Jeb M. Bent | Vice President |
| LAO | Matthew D. Benton | Vice President |
| LAO | Jerry R. Berg | Senior Vice President |
| LAO | Michel L. Bergesen | Vice President |
| LAO | Joseph W. Best, Jr. | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Matthew F. Betley | Vice President |
| LAO | Roger J. Bianco, Jr. | Senior Vice President |
| LAO | Ryan M. Bickle | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Jay A. Binstock | Assistant Vice President |
| LAO | Peter D. Bjork | Regional Vice President |
| SNO | Nasaly Blake | Assistant Vice President |
| DCO | Bryan K. Blankenship | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Marek Blaskovic | Vice President |
| LAO | Matthew C. Bloemer | Regional Vice President |
| LAO | Jeffrey E. Blum | Regional Vice President |
| LAO | Gerard M. Bockstie, Jr. | Senior Vice President |
| LAO | Jon T. Boldt | Regional Vice President |
| LAO | Ainsley J. Borel | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Jill M. Boudreau | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Andre W. Bouvier | Senior Vice President, Capital Group Institutional Investment Services Division |

---

---

| | | |
|:---|:---|:---|
| LAO | Michael A. Bowman | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Jordan C. Bowers | Regional Vice President |
| LAO | David H. Bradin | Senior Vice President |
| LAO | William P. Brady | Senior Vice President |
| LAO | William G. Bridge | Senior Vice President |
| IND | Robert W. Brinkman | Assistant Vice President |
| LAO | Jeffrey R. Brooks | Senior Vice President |
| LAO | Kevin G. Broulette | Vice President, Capital Group Institutional Investment Services Division |
| LAO | E. Chapman Brown, Jr. | Vice President |
| LAO | Toni L. Brown | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Elizabeth S. Brownlow | Vice President |
| LAO | Gary D. Bryce | Senior Vice President |
| IND | Jennifer L. Butler | Assistant Vice President |
| LAO | Steven Calabria | Senior Vice President |
| LAO | Thomas E. Callahan | Senior Vice President |
| LAO | Anthony J. Camilleri | Vice President |
| LAO | Kelly V. Campbell | Senior Vice President |
| LAO | Patrick C. Campbell III | Regional Vice President |
| LAO | Anthon S. Cannon III | Vice President |
| LAO | Kevin J. Carevic | Regional Vice President |
| LAO | Jason S. Carlough | Vice President |
| LAO | Kim R. Carney | Senior Vice President |
| LAO | Damian F. Carroll | Senior Vice President |
| IND | Gisele L. Carter | Assistant Vice President |
| LAO | James D. Carter | Senior Vice President |
| LAO | Stephen L. Caruthers | Senior Vice President, Capital Group Institutional Investment Services Division |
| SFO | James G. Carville | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Philip L. Casciano | Vice President |
| LAO | Brian C. Casey | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Christopher M. Cefalo | Vice President |
| LAO | Joseph M. Cella | Regional Vice President |
| IND | Alexzania N. Chambers<br>| Assistant Vice President |
| LAO | Kent W. Chan | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Thomas M. Charon | Senior Vice President |
| LAO | Ibrahim Chaudry | Vice President, Capital Group Institutional Investment Services Division |
| SNO | Marcus L. Chaves | Assistant Vice President |
| LAO | Si J. Chen | Assistant Vice President |
| LAO | Daniel A. Chodosch | Vice President |
| LAO | Wellington Choi | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Peter J. Chong | Assistant Vice President |
| LAO | Andrew T. Christos | Vice President |
| LAO | Robert S. Chu | Assistant Vice President |
| LAO | Paul A. Cieslik | Senior Vice President |
| IND | G. Michael Cisternino | Vice President |
| LAO | Andrew R. Claeson | Vice President |
| LAO | Michael J. Clark | Regional Vice President |
| LAO | Jamie A. Claypool | Vice President |
| LAO | Scott R. Clodfelter | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Kyle R. Coffey | Regional Vice President |
| NYO | Jayme E. Colosimo | Vice President |
| IND | Timothy J. Colvin | Regional Vice President |
| IRV | Erin K. Concepcion | Assistant Vice President |
| SNO | Brandon J. Cone | Vice President |
| LAO | Christopher M. Conwell | Vice President |
| LAO | C. Jeffrey Cook | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Greggory J. Cowan | Regional Vice President |
| LAO | Joseph G. Cronin | Senior Vice President |
| LAO | D. Erick Crowdus | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| SNO | Zachary A. Cutkomp | Regional Vice President |
| LAO | Hanh M. Dao | Vice President |
| LAO | Alex L. DaPron | Regional Vice President |
| LAO | William F. Daugherty | Senior Vice President |
| SNO | Bradley C. Davis | Assistant Vice President |
| LAO | Scott T. Davis | Vice President |
| LAO | Peter J. Deavan | Senior Vice President |
| LAO | Kristofer J. DeBonville | Regional Vice President |
| LAO | Guy E. Decker | Senior Vice President |
| LAO | Daniel Delianedis | Senior Vice President |
| LAO | Mark A. Dence | Senior Vice President |
| SNO | Brian M. Derrico | Vice President |
| LAO | Stephen Deschenes | Senior Vice President |
| LAO | Maddi L. Dessner | Senior Vice President |
| LAO | Alexander J. Diorio | Regional Vice President |
| LAO | Mario P. DiVito | Senior Vice President |
| IND | Marah E. Doan | Assistant Vice President |
| LAO | Kevin F. Dolan | Senior Vice President |
| LAO | John H. Donovan IV | Vice President |
| LAO | Ronald Q. Dottin | Senior Vice President |
| LAO | John J. Doyle | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Ryan T. Doyle | Vice President |
| LAO | Craig Duglin | Senior Vice President |
| LAO | Alan J. Dumas | Vice President |
| LAO | Sean P. Durkin | Regional Vice President |
| LAO | John E. Dwyer IV | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Christopher P. Dziubasik | Assistant Vice President |
| IND | Karyn B. Dzurisin | Vice President |
| LAO | Keisha L. Earle | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Kevin C. Easley | Senior Vice President |
| LAO | Shirley Ecklund | Senior Vice President |
| LAO | Damian Eckstein | Senior Vice President |
| LAO | Matthew J. Eisenhardt | Senior Vice President |
| LAO | John A. Erickson | Regional Vice President |
| LAO | Riley O. Etheridge, Jr. | Senior Vice President |
| LAO | Bryan R. Favilla | Senior Vice President |
| LAO | Joseph M. Fazio | Regional Vice President |
| LAO | Mark A. Ferraro | Senior Vice President |
| LAO | Brandon J. Fetta | Vice President |
| LAO | Naomi A. Fink | Assistant Vice President |
| LAO | John P. Finneran III | Regional Vice President |
| LAO | Layne M. Finnerty | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Kevin H. Folks | Senior Vice President |
| IND | Kelly B. Fonderoli | Assistant Vice President |
| LAO | David R. Ford | Vice President |
| LAO | William E. Ford | Senior Vice President |
| IRV | Robert S. Forshee | Assistant Vice President |
| LAO | Steven M. Fox | Vice President |
| LAO | Holly C. Framsted | Senior Vice President |
| LAO | Rusty A. Frauhiger | Regional Vice President |
| LAO | Daniel Frick | Senior Vice President |
| LAO | Vincent C. Fu | Assistant Vice President |
| LAO | Tyler L. Furek | Vice President |
| LAO | Jignesh D. Gandhi | Assistant Vice President |
| SNO | Arturo V. Garcia, Jr. | Vice President |
| LAO | J. Gregory Garrett | Senior Vice President, Capital Group Institutional Investment Services Division |
| SNO | Edward S. Garza | Vice President |
| LAO | Brian K. Geiger | Senior Vice President, Capital Group Institutional Investment Services Division |

---

---

| | | |
|:---|:---|:---|
| LAO | Leslie B. Geller | Senior Vice President |
| LAO | Jacob M. Gerber | Vice President, Capital Group Institutional Investment Services Division |
| LAO | J. Christopher Gies | Senior Vice President |
| LAO | Pamela A. Gillett | Vice President |
| LAO | William F. Gilmartin | Vice President |
| LAO | Kathleen D. Golden | Regional Vice President |
| NYO | Joshua H. Gordon | Vice President, Capital Group Institutional Investment Services Division |
| SNO | Craig B. Gray | Assistant Vice President |
| LAO | Robert E. Greeley, Jr. | Vice President |
| LAO | Jameson R. Greenstone | Vice President |
| LAO | Eric M. Grey | Senior Vice President |
| LAO | Karen M. Griffin | Assistant Vice President |
| LAO | E. Renee Grimm | Senior Vice President |
| LAO | Scott A. Grouten | Vice President |
| SNO | John S. Gryniewicz | Regional Vice President |
| SNO | Virginia Guevara | Assistant Vice President |
| IRV | Steven Guida | Senior Vice President and Director |
| LAO | Sam S. Gumma | Vice President |
| LAO | Jan S. Gunderson | Senior Vice President |
| LAO | Ryan A. Gundrum | Assistant Vice President |
| SNO | Lori L. Guy | Regional Vice President |
| LAO | Ralph E. Haberli | Senior Vice President; Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Janna C. Hahn | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Paul B. Hammond | Senior Vice President |
| LAO | Philip E. Haning | Vice President |
| LAO | Katy L. Hanke | Senior Vice President |
| LAO | Dale K. Hanks | Vice President, Capital Group Institutional Investment Services Division |
| LAO | David R. Hanna | Vice President |
| LAO | Brandon S. Hansen | Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Julie O. Hansen | Vice President |
| LAO | John R. Harley | Senior Vice President |
| LAO | Calvin L. Harrelson III | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Craig W. Hartigan | Senior Vice President |
| LAO | Alan M. Heaton | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Clifford W. "Webb" Heidinger | Vice President |
| LAO | Brock A. Hillman | Senior Vice President |
| IND | Kristin S. Himsel | Vice President |
| LAO | Jennifer M. Hoang | Vice President |
| SNO | Emilia A. Holt | Assistant Vice President |
| LAO | Dennis L. Hooper | Regional Vice President |
| LAO | Jessica K. Hooyenga | Regional Vice President |
| LAO | Heidi B. Horwitz-Marcus | Senior Vice President |
| LAO | David R. Hreha | Vice President |
| LAO | Frederic J. Huber | Senior Vice President |
| LAO | Jeffrey K. Hunkins | Senior Vice President |
| LAO | Angelia G. Hunter | Senior Vice President |
| LAO | Christa M. Iacono | Assistant Vice President |
| LAO | Marc G. Ialeggio | Senior Vice President |
| IND | David K. Jacocks | Vice President |
| LAO | Maurice E. Jadah | Regional Vice President |
| LAO | Asad K. Jamil | Regional Vice President |
| LAO | W. Chris Jenkins | Senior Vice President |
| LAO | Daniel J. Jess II | Senior Vice President |
| IND | Jameel S. Jiwani | Vice President |
| CHO | Allison S. Johnston | Assistant vice President |
| LAO | Brendan M. Jonland | Senior Vice President |
| LAO | Kathryn H. Jordan | Vice President |
| LAO | David G. Jordt | Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Stephen T. Joyce | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Eric J. Kamin | Regional Vice President |
| LAO | Wassan M. Kasey | Vice President |
| IND | Joel A. Kaul | Assistant Vice President |
| LAO | John P. Keating | Senior Vice President |
| LAO | David B. Keib | Senior Vice President |
| LAO | Brian G. Kelly | Senior Vice President |
| LAO | Christopher J. Kennedy | Vice President |
| LAO | Jason A. Kerr | Vice President |
| LAO | Ryan C. Kidwell | Senior Vice President |
| LAO | Nora A. Kilaghbian | Vice President |
| LAO | Charles A. King | Senior Vice President, Capital Group Institutional Investment Services Division |
| IND | Eric M. Kirkman | Vice President |
| LAO | Kelsei Q. Kirland | Assistant Vice President |
| LAO | Mark Kistler | Senior Vice President |
| LAO | Stephen J. Knutson | Assistant Vice President |
| LAO | Michael J. Koch | Regional Vice President |
| LAO | James M. Kreider | Vice President |
| LAO | Andrew M. Kruger | Regional Vice President |
| SNO | David D. Kuncho | Vice President |
| LAO | Jialing Lang | Assistant Vice President |
| LAO | Richard M. Lang | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Christopher F. Lanzafame | Senior Vice President |
| LAO | Mark G. LaRoque | Senior Vice President |
| LAO | Andrew P. Laskowski | Vice President |
| LAO | Matthew N. Leeper | Senior Vice President |
| LAO | Victor J. LeMay | Regional Vice President |
| LAO | Clay M. Leveritt | Vice President |
| LAO | Estela R. Levin | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Emily R. Liao | Vice President |
| LAO | Lorin E. Liesy | Senior Vice President |
| LAO | Chris H. Lin | Assistant Vice President |
| IND | Justin L. Linder | Assistant Vice President |
| LAO | Louis K. Linquata | Senior Vice President |
| SNO | Adam C. Lozano | Assistant Vice President |
| LAO | Omar J. Love | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Dillon W. Lull | Regional Vice President |
| LAO | Reid A. Luna | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Joe P. Lynch | Regional Vice President |
| CHO | Karin A. Lystad | Assistant Vice President, Capital Group Institutional Investment Services Division |
| LAO | Peter K. Maddox | Vice President |
| LAO | James M. Maher | Vice President |
| LAO | Brendan T. Mahoney | Senior Vice President |
| LAO | Nathan G. Mains | Senior Vice President |
| LAO | Jeffrey N. Malbasa | Vice President |
| LAO | Usma A. Malik | Vice President |
| LAO | Chantal M. Manseau Guerdat | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Arran M. Maran | Regional Vice President |
| LAO | Brooke M. Marrujo | Senior Vice President |
| LAO | Kristan N. Martin | Regional Vice President |
| CHO | James M. Mathenge | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Stephen B. May | Vice President |
| LAO | Barnabas T. Mbigha | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Joseph A. McCreesh, III | Senior Vice President |
| LAO | Ross M. McDonald | Senior Vice President |
| LAO | Jennifer L. McGrath | Regional Vice President |
| LAO | Timothy W. McHale | Secretary |
| SNO | Michael J. McLaughlin | Assistant Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Max J. McQuiston | Senior Vice President |
| LAO | Curtis D. Mc Reynolds | Vice President |
| IND | Melissa M. Meade | Assistant Vice President |
| LAO | Scott M. Meade | Senior Vice President |
| LAO | Paulino Medina | Vice President |
| LAO | Britney L. Melvin | Vice President |
| LAO | Simon Mendelson | Senior Vice President |
| LAO | David A. Merrill | Assistant Vice President |
| SNO | Lauren A. Merriweather | Assistant Vice President |
| LAO | Conrad F. Metzger | Vice President |
| LAO | Carl B. Meyer | Regional Vice President |
| LAO | Benjamin J. Miller | Vice President |
| LAO | Jennifer M. Miller | Vice President |
| LAO | Jeremy A. Miller | Regional Vice President |
| LAO | Tammy H. Miller | Vice President |
| LAO | William T. Mills | Senior Vice President |
| LAO | Sean C. Minor | Senior Vice President |
| LAO | Louis W. Minora | Vice President |
| LAO | James R. Mitchell III | Senior Vice President |
| LAO | Charles L. Mitsakos | Senior Vice President |
| IND | Eric E. Momcilovich | Assistant Vice President |
| CRDM | Christopher Moore | Assistant Vice President, Capital Group Institutional Investment Services Division |
| LAO | David H. Morrison | Vice President |
| LAO | Andrew J. Moscardini | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Stanley Moy | Assistant Vice President |
| LAO | Joseph M. Mulcahy | Regional Vice President |
| LAOW | Ryan D. Murphy | Senior Vice President |
| NYO | Timothy J. Murphy | Senior Vice President |
| LAO | Zahid Nakhooda | Regional Vice President |

---

---

| | | |
|:---|:---|:---|
| IND | Kristen L. Nelson | Assistant Vice President |
| LAO | Jon C. Nicolazzo | Senior Vice President |
| LAO | Earnest M. Niemi | Senior Vice President |
| LAO | Matthew P. O'Connor | Director, Chairman and Chief Executive Officer; Senior Vice President, Capital Group Institutional Investment Services Division |
| IND | Jody L. O'Dell | Assistant Vice President |
| LAO | Jonathan H. O'Flynn | Senior Vice President |
| LAO | Arthur B. Oliver | Vice President |
| LAO | Peter A. Olsen | Vice President |
| LAO | Jeffrey A. Olson | Vice President |
| IND | Susan L. Oman | Assistant Vice President |
| LAO | Thomas A. O'Neil | Senior Vice President |
| IRV | Paula A. Orologas | Vice President |
| LAO | Vincent A. Ortega | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Gregory H. Ortman | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Shawn M. O'Sullivan | Senior Vice President |
| IND | Lance T. Owens | Vice President |
| LAO | Kristina E. Page | Vice President |
| LAO | Jeffrey C. Paguirigan | Senior Vice President |
| LAO | Sujata H. Parikh | Senior Vice President |
| LAO | Rodney Dean Parker II | Senior Vice President |
| LAO | Ingrid S. Parl | Vice President |
| LAO | William D. Parsley | Regional Vice President |
| LAO | Timothy C. Patterson | Vice President |
| LAO | W. Burke Patterson, Jr. | Senior Vice President |
| LAO | Gary A. Peace | Senior Vice President |
| SNO | Adam P. Peach | Vice President |
| LAO | Robert J. Peche | Vice President |
| LAO | Elena M. Peerson | Regional Vice President |
| IRV | Grace L. Pelczynski | Assistant Vice President |

---

---

| | | |
|:---|:---|:---|
| SNO | Sejal U. Penkar | Regional Vice President |
| LAO | Harry A. Phinney | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Adam W. Phillips | Vice President |
| LAO | Joseph M. Piccolo | Senior Vice President |
| LAO | Anthony J. Picerni | Regional Vice President |
| LAO | Carl S. Platou | Senior Vice President |
| LAO | David T. Polak | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Michael E. Pollgreen | Vice President |
| LAO | Charles R. Porcher | Senior Vice President |
| SNO | Robert B. Potter III | Assistant Vice President |
| LAO | Darrell W. Pounders | Regional Vice President |
| LAOW | Colyar W. Pridgen | Vice President |
| LAO | Michelle L. Pullen | Regional Vice President |
| LAO | Victoria M. Quach | Assistant Vice President |
| LAO | Steven J. Quagrello | Senior Vice President |
| IND | Kelly S. Quick | Assistant Vice President |
| LAO | Michael R. Quinn | Senior Vice President |
| LAO | Ryan E. Radtke | Regional Vice President |
| LAO | James R. Raker | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Rachel M. Ramos | Vice President |
| SNO | Eddie A. Rascon | Regional Vice President |
| LAO | Rene M. Reincke | Vice President, Treasurer and Director |
| LAO | Lesley P. Reinhart | Regional Vice President |
| LAO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael D. Reynaert<br>| Regional Vice President |
| LAO | Adnane Rhazzal | Regional Vice President |
| LAO | Christopher J. Richardson | Senior Vice President |
| SNO | Stephanie A. Robichaud | Assistant Vice President |
| LAO | Jeffrey J. Robinson | Vice President |
| LAO | Matthew M. Robinson | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Jennifer R. Rocci | Regional Vice President |
| LAO | Bethany M. Rodenhuis | Senior Vice President |
| LAO | Rochelle C. Rodriguez | Senior Vice President |
| LAO | Melissa B. Roe | Senior Vice President |
| LAO | Thomas W. Rose | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Rome D. Rottura | Senior Vice President |
| LAO | Shane A. Russell | Senior Vice President |
| LAO | Leah O. Ryan | Vice President |
| LAO | William M. Ryan | Senior Vice President |
| IND | Brenda S. Rynski | Regional Vice President |
| LAO | Richard A. Sabec, Jr. | Senior Vice President |
| SNO | Richard R. Salinas | Vice President |
| LAO | Paul V. Santoro | Senior Vice President |
| LAO | Raj S. Sarai | Vice President |
| LAO | David E. Saunders II | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Keith A. Saunders | Senior Vice President |
| LAO | Joe D. Scarpitti | Senior Vice President |
| LAO | Domenic A. Sciarra | Assistant Vice President |
| LAO | Keon F. Scott | Regional Vice President |
| LAO | Mark A. Seaman | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | James J. Sewell III | Senior Vice President |
| LAO | Arthur M. Sgroi | Senior Vice President |
| LAO | Nathan W. Simmons | Vice President |
| LAO | Kelly S. Simon | Senior Vice President, Capital Group Institutional Investment Services Division |
| SNO | Julia M. Sisente | Assistant Vice President |
| LAO | Melissa A. Sloane | Senior Vice President |
| CHO | Jason C. Smith | Assistant Vice President, Capital Group Institutional Investment Services Division |
| LAO | Joshua J. Smith | Regional Vice President |
| LAO | Taylor D. Smith | Regional Vice President |

---

---

| | | |
|:---|:---|:---|
| SNO | Stacy D. Smolka | Senior Vice President |
| LAO | Stephanie L. Smolka | Regional Vice President |
| LAO | J. Eric Snively | Senior Vice President |
| LAO | John A. Sobotowski | Assistant Vice President |
| SNO | Chadwick R. Solano | Assistant Vice President |
| LAO | Charles V. Sosa | Regional Vice President |
| LAO | Alexander T. Sotiriou | Regional Vice President |
| LAO | Kristen J. Spazafumo | Senior Vice President |
| LAO | Steven J. Sperry | Assistant Vice President |
| LAO | Margaret V. Steinbach | Senior Vice President |
| LAO | Michael P. Stern | Senior Vice President |
| LAO | Andrew J. Strandquist | Senior Vice President |
| LAO | Allison M. Straub | Regional Vice President |
| LAO | Valerie B. Stringer | Regional Vice President |
| LAO | John R. Sulzicki | Regional Vice President |
| LAO | Peter D. Thatch | Senior Vice President |
| LAO | John B. Thomas | Vice President |
| LAO | Cynthia M. Thompson | Senior Vice President, Capital Group Institutional Investment Services Division |
| HRO | Stephen B. Thompson | Regional Vice President |
| LAO | Mark R. Threlfall | Vice President |
| LAO | Ryan D. Tiernan | Senior Vice President |
| LAO | Luke N. Trammell | Senior Vice President |
| LAO | Jordan A. Trevino | Vice President |
| LAO | Michael J. Triessl | Director |
| LAO | Shaun C. Tucker | Senior Vice President |
| IRV | Sean M. Tupy | Vice President |
| LAO | Kate M. Turner | Regional Vice President |
| SNO | Corey W. Tyson | Regional Vice President |
| IND | Ryan C. Tyson | Assistant Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Jason A. Uberti | Vice President |
| LAO | David E. Unanue | Senior Vice President |
| LAO | John W. Urbanski | Regional Vice President |
| LAO | Idoya Urrutia | Vice President |
| LAO | Joe M. Valencia | Regional Vice President |
| LAO | Patrick D. Vance | Senior Vice President |
| LAO | Veronica Vasquez | Vice President |
| LAO-W | Gerrit Veerman III | Senior Vice President, Capital Group Institutional Investment Services |
| LAO | Cynthia G. Velazquez | Assistant Vice President |
| LAO | Spilios Venetsanopoulos | Vice President |
| LAO | J. David Viale | Senior Vice President |
| LAO | Austin J. Vierra | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Robert D. Vigneaux III | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Julie A. Vogel | Vice President |
| LAO | Todd R. Wagner | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Jon N. Wainman | Vice President |
| ATO | Jason C. Wallace | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Sherrie S. Walling | Vice President |
| LAO | Brian M. Walsh | Senior Vice President |
| LAO | Susan O. Walton | Senior Vice President, Capital Group Institutional Investment Services Division |
| SNO | Chris L. Wammack | Vice President |
| IND | Kristen M. Weaver | Vice President |
| LAO | Timothy S. Wei | Assistant Vice President |
| SNO | Gordon S. Wells | Regional Vice President |
| LAO | George J. Wenzel | Senior Vice President |
| LAO | Jason M. Weybrecht | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Adam B. Whitehead | Senior Vice President |
| LAO | Jonathan D. Wilson | Regional Vice President |
| LAO | Steven Wilson | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Steven C. Wilson | Vice President |
| LAO | Anthony J. Wingate | Regional Vice President |
| LAO | Kimberly D. Wood | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Kurt A. Wuestenberg | Senior Vice President |
| SNO | Thomas O. Yager | Assistant Vice President |
| LAO | Jason P. Young | Senior Vice President |
| LAO | Jonathan A. Young | Senior Vice President |
| LAO | Raul Zarco, Jr. | Vice President, Capital Group Institutional Investment Services Division |
| IND | Ellen M. Zawacki | Vice President |
| LAO | Connie R. Zeender | Regional Vice President |
| LAO | Heidi H. Zhang | Assistant Vice President |
| NYO | Tanya Zolotarevskiy | Vice President, Capital Group Institutional Investment Services Division |

---

__________

---

| | |
|:---|:---|
| HRO | Business Address, 5300 Robin Hood Road, Norfolk, VA 23513 |
| IND | Business Address, 12811 North Meridian Street, Carmel, IN 46032 |
| IRV | Business Address, 6455 Irvine Center Drive, Irvine, CA 92618 |
| LAO | Business Address, 333 South Hope Street, Los Angeles, CA 90071 |
| LAO-W | Business Address, 11100 Santa Monica Blvd., 15<sup>th</sup> Floor, Los Angeles, CA 90025 |
| NYO | Business Address, 399 Park Avenue, 34<sup>th</sup> Floor, New York, NY 10022 |
| SFO | Business Address, One Market, Steuart Tower, Suite 1800, San Francisco, CA 94105 |
| SNO | Business Address, 3500 Wiseman Boulevard, San Antonio, TX 78251 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) None

**Item 33.** **Location of Accounts and Records**

Accounts, books and other records required by Rules 31a-1 and 31a-2 under the Investment Company Act of 1940, as amended, are maintained and held in the offices of the Registrant's investment adviser, Capital Research and Management Company, 333 South Hope Street, Los Angeles, California 90071; 6455 Irvine Center Drive, Irvine, California 92618; and/or 5300 Robin Hood Road, Norfolk, Virginia 23513.

Registrant's records covering shareholder accounts are maintained and kept by its transfer agent, American Funds Service Company, 6455 Irvine Center Drive, Irvine, California 92618; 12811 North Meridian Street, Carmel, Indiana 46032; 3500 Wiseman Boulevard, San Antonio, Texas 78251; and 5300 Robin Hood Road, Norfolk, Virginia 23513.

Registrant's records covering portfolio transactions are maintained and kept by its custodian, JPMorgan Chase Bank, N.A., 270 Park Avenue, New York, New York 10017-2070.

**Item 34.** **Management Services**

None

**Item 35.** **Undertakings**

n/a

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Los Angeles, and State of California, on the 27<sup>th</sup> day of January, 2023.

CAPITAL GROUP CENTRAL FUND SERIES

By<u>: /s/ Kristine M. Nishiyama</u>

(Kristine M. Nishiyama, Principal Executive Officer)

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below on January 27, 2023, by the following persons in the capacities indicated.

---

| | | | |
|:---|:---|:---|:---|
|  | **<u>Signature</u>** | **<u>Title</u>** | **<u>Title</u>** |
| (1) | Principal Executive Officer: | Principal Executive Officer: | Principal Executive Officer: |
|  | <br><u>/s/ Kristine M. Nishiyama</u> | <br><u>/s/ Kristine M. Nishiyama</u> | <br>Principal Executive Officer |
|  | (Kristine M. Nishiyama) | (Kristine M. Nishiyama) | (Kristine M. Nishiyama) |
| (2) | Principal Financial Officer and Principal Accounting Officer: | Principal Financial Officer and Principal Accounting Officer: | Principal Financial Officer and Principal Accounting Officer: |
|  | <br><u>/s/ Brian C. Janssen</u> | <br><u>/s/ Brian C. Janssen</u> | <br>Treasurer |
|  | (Brian C. Janssen) | (Brian C. Janssen) | (Brian C. Janssen) |
| (3) | Trustees: | Trustees: | Trustees: |
|  | Francisco G. Cigarroa\* | Francisco G. Cigarroa\* | Trustee |
|  | Nariman Farvardin\* | Nariman Farvardin\* | Trustee |
|  | Jennifer C. Feikin\* | Jennifer C. Feikin\* | Trustee |
|  | Michael C. Gitlin\* | Michael C. Gitlin\* | Trustee |
|  | Leslie Stone Heisz\* | Leslie Stone Heisz\* | Trustee |
|  | Mary Davis Holt\* | Mary Davis Holt\* | Trustee |
|  | Merit E. Janow\* | Merit E. Janow\* | Trustee |
|  | Margaret Spellings\* | Margaret Spellings\* | Chair of the Board (Independent and Non-Executive) |
|  | Alexandra Trower\* | Alexandra Trower\* | Trustee |
|  | Paul S. Williams\* | Paul S. Williams\* | Trustee |
|  | Karl J. Zeile\* | Karl J. Zeile\* | Trustee |
|  | <br><u>\*By: /s/ Steven I. Koszalka</u> | <br><u>\*By: /s/ Steven I. Koszalka</u> |  |
|  | (Steven I. Koszalka, pursuant to a power of attorney filed herewith) | (Steven I. Koszalka, pursuant to a power of attorney filed herewith) | (Steven I. Koszalka, pursuant to a power of attorney filed herewith) |

---

Counsel represents that this amendment does not contain disclosures that would make the amendment ineligible for effectiveness under the provisions of Rule 485(b).

<u>/s/ Charlene H. Kim</u>

(Charlene H. Kim, Counsel)

**POWER OF ATTORNEY**

I, Francisco G. Cigarroa, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>San Antonio, TX</u>, on January 1, 2023.

(City, State)

<u>/s/ Francisco G. Cigarroa</u>

Francisco G. Cigarroa, Board member

**POWER OF ATTORNEY**

I, Nariman Farvardin, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Balanced Fund (File No. 002-10758, File No. 811-00066)

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- The Income Fund of America (File No. 002-33371, File No. 811-01880)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- International Growth and Income Fund (File No. 333-152323, File No. 811-22215)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

- Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Hoboken, NJ</u>, on January 1, 2023.

(City, State)

<u>/s/ Nariman Farvardin</u>

Nariman Farvardin, Board member

**POWER OF ATTORNEY**

I, Jennifer C. Feikin, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Park City, UT</u>, on December 5, 2022.

(City, State)

<u>/s/ Jennifer C. Feikin</u>

Jennifer C. Feikin, Board member

**POWER OF ATTORNEY**

I, Michael C. Gitlin, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Los Angeles, CA</u>, on January 1, 2023.

(City, State)

<u>/s/ Michael C. Gitlin</u>

Michael C. Gitlin, Board member

**POWER OF ATTORNEY**

I, Leslie Stone Heisz, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Pacific Palisades, CA</u>, on December 5, 2022.

(City, State)

<u>/s/ Leslie Stone Heisz</u>

Leslie Stone Heisz, Board member

**POWER OF ATTORNEY**

I, Mary Davis Holt, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

- Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Los Angeles, CA</u>, on January 1, 2023.

(City, State)

<u>/s/ Mary Davis Holt</u>

Mary Davis Holt, Board member

**POWER OF ATTORNEY**

I, Merit E. Janow, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- AMCAP Fund (File No. 002-26516, File No. 811-01435)

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- American Funds Global Balanced Fund (File No. 333-170605, File No. 811-22496)

- American Funds Global Insight Fund (File No. 333-233375, File No. 811-23468)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds International Vantage Fund (Fund No. 333-233374, File No. 811-23467)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- American Mutual Fund (File No. 002-10607, File No. 811-00572)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital Group U.S. Equity Fund (File No. 333-233376, File No. 811-23469)

- Capital Income Builder (File No. 033-12967, File No. 811-05085)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Capital World Growth and Income Fund (File No. 033-54444, File No. 811-07338)

- Emerging Markets Growth Fund, Inc. (File No. 333-74995, File No. 811-04692)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- The Investment Company of America (File No. 002-10811, File No. 811-00116)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- The New Economy Fund (File No. 002-83848, File No. 811-03735)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>New York, NY</u>, on January 1, 2023.

(City, State)

<u>/s/ Merit E. Janow</u>

Merit E. Janow, Board member

**POWER OF ATTORNEY**

I, Margaret Spellings, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Balanced Fund (File No. 002-10758, File No. 811-00066)

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- The Income Fund of America (File No. 002-33371, File No. 811-01880)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- International Growth and Income Fund (File No. 333-152323, File No. 811-22215)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

- Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Los Angeles, CA</u>, on January 1, 2023.

(City, State)

<u>/s/ Margaret Spellings</u>

Margaret Spellings, Board member

**POWER OF ATTORNEY**

I, Alexandra Trower, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>New York City, NY</u>, on January 1, 2023.

(City, State)

<u>/s/ Alexandra Trower</u>

Alexandra Trower, Board member

**POWER OF ATTORNEY**

I, Paul S. Williams, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Chicago, IL</u>, on January 1, 2023.

(City, State)

<u>/s/ Paul S. Williams</u>

Paul S. Williams, Board member

**POWER OF ATTORNEY**

I, Karl J. Zeile, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II (File No. 811-23633)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

---

| | |
|:---|:---|
| Jennifer L. Butler<br> Jane Y. Chung<br> Susan K. Countess<br> Steven I. Koszalka<br> Julie E. Lawton<br> Melissa B. Leyva<br> Timothy W. McHale<br> Marilyn Paramo<br> Lovelyn C. Sims<br> Michael W. Stockton<br> Courtney R. Taylor<br> Michael R. Tom | Sandra Chuon<br> Brian C. Janssen<br> Hong T. Le<br> Gregory F. Niland<br> Becky L. Park<br> W. Michael Pattie<br> Troy S. Tanner |

---

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940 as amended, and all related requirements of the U. S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Los Angeles, CA</u>, on January 1, 2023.

(City, State)

<u>/s/ Karl J. Zeile</u>

Karl J. Zeile, Board member

## Ex-99.H

**capital group central fund series**

**AMENDED AND RESTATED SHAREHOLDER SERVICES AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The parties to this Amended and Restated Shareholder Services Agreement (the "Agreement"), which is effective as of January 1, 2023, are Capital Group Central Fund Series (the "Trust"), a Delaware statutory trust consisting of one Fund, the Capital Group Central Cash Fund (the "Fund"), and American Funds Service Company, a California corporation ("AFS"). AFS is a wholly owned subsidiary of Capital Research and Management Company ("CRMC"). This Agreement will continue in effect until amended or terminated in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Trust hereby employs AFS, and AFS hereby accepts such employment by the Trust, as its transfer agent. In such capacity AFS will provide the services of stock transfer agent, dividend disbursing agent, redemption agent, and such additional related services as the Trust may from time to time require, in respect of Class M shares (the "shares") of the Fund, all of which services are sometimes referred to herein as "shareholder services." In addition, AFS assumes responsibility for the Trust's implementation and compliance with the procedures set forth in the Anti-Money Laundering Program ("AML Program") of the Trust and does hereby agree to provide all records relating to the AML Program to any federal examiner of the Trust upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. AFS has entered into substantially identical agreements with other investment companies for which CRMC serves as investment adviser. (For the purposes of this Agreement, such investment companies, including the Trust, are called "participating investment companies.")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. AFS has entered into an agreement with DST Systems, Inc. (hereinafter called "DST"), to provide AFS with electronic data processing services sufficient for the performance of the shareholder services referred to in paragraph 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Trust, together with the other participating investment companies, will maintain a Review and Advisory Committee, which Committee will review and may make recommendations to the boards of the participating investment companies regarding all fees and charges provided for in this Agreement, as well as review the level and quality of the shareholder services rendered to the participating investment companies and their shareholders. Each participating investment company may select one director or trustee who is not affiliated with CRMC, or any of its affiliated companies, to serve on the Review and Advisory Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. AFS will provide to the participating investment companies the shareholder services referred to herein in return for the following fees:

Annual account maintenance fee (paid monthly):

<u>Fee (annual rate)</u>

Full service accounts: [FEE] per account

Third party serviced accounts (primarily networked, trust networked, street, recordkeeping): [FEE] of assets

No annual fee will be charged for a participant account underlying a 401(k) or other defined contribution plan where the plan maintains a single account on AFS' books and responds to all participant inquiries.

The fees described above shall be invoiced and paid within 30 days after the end of the month in which the services were performed.

Any revision of the schedule of charges set forth herein shall require the affirmative vote of a majority of the members of the board of trustees of the Trust.

7. a. All Fund-specific charges from third parties -- including DST charges, payments described in the next sentence, postage, National Securities Clearing Corporation (NSCC) transaction charges and similar out-of-pocket expenses -- will be passed through directly to the Fund or other participating investment companies, as applicable. AFS, subject to approval of its board of directors, is authorized in its discretion to negotiate payments to third parties for account maintenance and/or transaction processing services described in paragraph 7.b., provided such payments do not exceed the anticipated savings to the Fund, either in fees payable to AFS hereunder or in other direct Fund expenses, that AFS reasonably anticipates would be realized by the Fund from using the services of such third party rather than maintaining the accounts directly on AFS' books and/or processing non-automated transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. During the term of this Agreement, AFS shall perform or cause to be performed the transfer agent services set forth in Exhibit A hereto, as such exhibit may be amended from time to time by mutual consent of the parties. The Trust and AFS acknowledge that AFS will contract with third parties, to perform such transfer agent services. In selecting third parties to perform transfer agent services, AFS shall select only those third parties that AFS reasonably believes have adequate facilities and personnel to diligently perform such services. CRMC or its affiliates shall monitor, coordinate and oversee the activities performed by the third parties with which AFS contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. It is understood that AFS may have income in excess of its expenses and may accumulate capital and surplus. AFS is not, however, permitted to distribute any net income or accumulated surplus to its parent, CRMC, in the form of a dividend without the affirmative vote of a majority of the members of the board of trustees of the Trust and all participating investment companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. This Agreement may be amended at any time by mutual agreement of the parties, with agreement of the Trust to be evidenced by affirmative vote of a majority of the members of the board of trustees of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. This Agreement may be terminated on 180 days' written notice by either party. In the event of a termination of this Agreement, AFS and the Trust will each extend full cooperation in effecting a conversion to whatever successor shareholder service provider(s) the Trust may select, it being understood that all records relating to the Trust and its shareholders are property of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. In the event of a termination of this Agreement by the Trust, the Fund will pay to AFS as a termination fee the Fund's proportionate share of any costs of conversion of the Fund's shareholder service from AFS to a successor. In the event of termination of this Agreement and all corresponding agreements with all the participating investment companies, all assets of AFS will be sold or otherwise converted to cash, with a view to the liquidation of AFS when it ceases to provide shareholder services for the participating investment companies. To the extent any such assets are sold by AFS to CRMC and/or any of its affiliates, such sales shall be at fair market value at the time of sale as agreed upon by AFS, the purchasing company or companies, and the Review and Advisory Committee. After all assets of AFS have been converted to cash and all liabilities of AFS have been paid or discharged, an amount equal to any capital or paid-in surplus of AFS that shall have been contributed by CRMC or its affiliates shall be set aside in cash for distribution to CRMC upon liquidation of AFS. Any other capital or surplus and any assets of AFS remaining after the foregoing provisions for liabilities and return of capital or paid-in surplus to CRMC shall be distributed to the participating investment companies in such proportions as may be determined by the Review and Advisory Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. In the event of disagreement between the Trust and AFS, or between the Trust and other participating investment companies as to any matter arising under this Agreement, which the parties to the disagreement are unable to resolve, the question shall be referred to the Review and Advisory Committee for resolution. If the Review and Advisory Committee is unable to resolve the question to the satisfaction of both parties, either party may elect to submit the question to arbitration; one arbitrator to be named by each party to the disagreement and a third arbitrator to be selected by the two arbitrators named by the original parties. The decision of a majority of the arbitrators shall be final and binding on all parties to the

arbitration. The expenses of such arbitration shall be paid by the party electing to submit the question to arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. The obligations of the Trust and the Fund under this Agreement are not binding upon any of the trustees, officers, employees, agents or shareholders of the Trust and the Fund individually, but bind only the Trust and the Fund itself. AFS agrees to look solely to the assets of the Fund for the satisfaction of any liability of the Trust or the Fund in respect to this Agreement and will not seek recourse against such trustees, officers, employees, agents or shareholders, or any of them or their personal assets for such satisfaction.

[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their officers thereunto duly authorized, as of January 1, 2023.

---

| | |
|:---|:---|
| AMERICAN FUNDS SERVICE COMPANY | CAPITAL GROUP CENTRAL FUND SERIES |
| By <u>/s/ Stephanie D. McNeely</u> | By <u>/s/ Steven I. Koszalka</u> |
| Stephanie D. McNeely | Steven I. Koszalka |
| Secretary | Secretary |

---

**EXHIBIT A**

**to the**

**Amended and Restated Shareholder Services Agreement**

AFS or any third party with whom it may contract (AFS and any such third-party are collectively referred to as ("Service Provider") shall act, as necessary, as stock transfer agent, dividend disbursing agent and redemption agent for the Fund's shares and shall provide such additional related services as the Fund's shares may from time to time require.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Record Maintenance</u> 

The Service Provider shall maintain, and require any third parties with which it contracts to maintain with respect to the Fund's shareholders holding the Fund's shares in a Service Provider account ("Customers") the following records:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Number
 of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Date, price and amount of purchases and redemptions (including dividend reinvestments) and dates and amounts of dividends paid for at least the current year to date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Name and address of the Customer, including zip codes and social security numbers or taxpayer identification numbers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Records of distributions and dividend payments; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Any transfers of shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Shareholder Communications</u> 

Service Provider shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Provide to a shareholder mailing agent for the purpose of delivering certain Fund-related material the names and addresses of all Customers. The Fund-related material shall consist of updated summary prospectuses and/or prospectuses and any supplements and amendments thereto, annual and other periodic reports, proxy or information statements and other appropriate shareholder communications. In the alternative, the Service Provider may distribute the Fund related material to its Customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Deliver current Fund summary prospectuses, prospectuses and statements of additional information and annual and other periodic reports upon Customer request, and, as applicable, with confirmation statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Deliver statements to Customers on no less frequently than a quarterly basis showing, among other things, the number of shares of the Fund owned by such Customer and the net asset value of shares of the Fund as of a recent date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Produce and deliver to Customers confirmation statements reflecting purchases and redemptions of shares of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Respond to Customer inquiries regarding, among other things, share prices, account balances, dividend amounts and dividend payment dates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. If the Service Provider accepts transactions in the Fund's shares from any brokers or banks in an omnibus relationship, require each such broker or bank to provide such shareholder communications as set forth in 2(a) through 2(e) to its own Customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Transactional Services</u> 

The Service Provider shall communicate to its Customers, as to shares of the Fund, purchase, redemption and exchange orders reflecting the orders it receives from its Customers or from any brokers and banks for their Customers. The Service Provider shall also communicate to beneficial owners holding through it, and to any brokers or banks for beneficial owners holding through them, as to shares of the Fund, mergers, splits and other reorganization activities, and require any broker or bank to communicate such information to its Customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Tax Information Returns and Reports</u> 

The Service Provider shall prepare and file, and require to be prepared and filed by any brokers or banks as to their Customers, with the appropriate governmental agencies, such information, returns and reports as are required to be so filed for reporting: (i) dividends and other distributions made; (ii) amounts withheld on dividends and other distributions and payments under applicable federal and state laws, rules and regulations; and (iii) gross proceeds of sales transactions as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Fund Communications</u> 

The Service Provider shall, upon request by the Fund, on each business day, report the number of shares on which the transfer agency fee is to be paid pursuant to this Agreement. The Service Provider shall also provide the Fund with a monthly invoice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Coordination, Oversight and Monitoring of Service Providers</u> 

CRMC shall coordinate, monitor and oversee the activities performed by the Service Providers with which AFS contracts. AFS shall monitor Service Providers' provision of services including the delivery of Customer account statements and all Fund-related material, including summary prospectuses and/or prospectuses, shareholder reports, and proxies.

## Ex-99.P

[logo - The Capital Group]

**Code of Ethics**

**December 2022**

Capital Group associates are responsible for maintaining the highest ethical standards. The Code of Ethics is intended to help associates observe exemplary standards of integrity, honesty and trust. It sets out standards for our personal conduct, including personal investing, gifts and entertainment, outside business interests and affiliations, political contributions, insider trading, and client confidentiality.

Our fund shareholders and clients have placed their trust in Capital to manage their assets. As investment advisers, we act as fiduciaries to our clients. This means we owe them both a duty of care and a duty of loyalty.

Capital has earned a reputation over many years for acting with the highest integrity and ethics. Reputations are fragile, however, and Capital's reputation can be harmed if any of us fails to act ethically and in the best interests of our clients. We each must hold ourselves to the highest standards of behavior, regardless of business custom, and strive to avoid even the appearance of impropriety. We all share this responsibility — if you have any doubt whether an action or circumstance is consistent with our standards, raise it.

Associates should be aware that their actions outside of the workplace can reflect on the ethics of our organization and potentially harm our reputation. For this reason, associates should exercise caution and good judgment in order to avoid having their actions outside of the workplace impact Capital, our workplace or our associates.

No set of rules can anticipate every possible situation, so it is essential that associates adhere to the spirit as well as the letter of the Code of Ethics. Any activity that compromises the trust our clients have placed in us, even if it does not expressly violate a rule, has the potential to harm our reputation. Associates are reminded of one of Capital's core principles: that we must do the right thing as a matter of principle, not just in observance of policy.

In addition to the specific policies described below, associates have the following fundamental obligations under the Code of Ethics:

- Associates must avoid those situations that might place, or appear to place, their personal interests in conflict with the interests of Capital, our clients or fund shareholders.

- Associates must not take advantage of their role with Capital to benefit themselves or another party.

- Associates must comply with the laws, rules and regulations that apply to us in the conduct of our business.

- Associates must promptly report violations of the Code of Ethics.

It is important that all associates comply with the Code of Ethics, including its related guidelines and policies. **Failure to do so could result in disciplinary action, including termination.**

Questions regarding the Code of Ethics may be directed to the Code of Ethics Team.

**Working ethically**

In order to maintain the highest ethical standards, Capital strives to recruit, hire and retain exceptional and diverse talent. We can only do so by offering a work environment where associates have a voice, feel respected and can thrive, grow, and bring their most authentic selves to the workplace. In order to help foster such an environment, we have established certain employment policies designed in part to ensure associates interact in a professional, productive and inclusive manner. All associates are expected to be familiar and comply with these and the other policies included in our Associate Handbooks. Because we hold ourselves to the highest ethical standards, our policies often exceed what may be required by law or observed at other companies.

The following sections summarize some of your obligations under the Associate Handbook. Due to their importance to our workplace, violation of the policies in our Associate Handbooks could result in disciplinary action, up to and including termination of employment.

Providing equal employment opportunities and preventing discrimination and harassment

All associates at Capital are responsible for maintaining a professional, inclusive work environment. As an equal opportunity employer, we do not tolerate discrimination. Our policies prohibit unlawful discrimination on the basis of race, religion, color, national origin, ancestry, sex (including gender, gender expression and gender identity), pregnancy, childbirth and related medical conditions, age, physical or mental disability, medical condition, genetic information, marital status, sexual orientation, citizenship status, AIDS/HIV status, political activities or affiliations, military or veteran status, status as a victim of domestic violence, assault or stalking or any other characteristic protected by federal, state or local law.

Harassment is a form of discrimination and violates our commitment to equal employment opportunities. Harassment in violation of our policies occurs when unwelcome comments or conduct based on a protected status unreasonably interfere with an associate's work performance or create an intimidating, hostile or offensive work environment.

We are committed to promptly investigating and taking action to eliminate any discrimination and harassment that occurs in the workplace. When requested by our Human Resources or Legal Department, all associates are expected to cooperate fully in any investigation into a violation of our policies against discrimination and harassment. Our commitment is to address such claims promptly and to take corrective action as appropriate.

Associates are encouraged to report harassment to Human Resources, any manager in the organization or through our Open Line (contact information for Open Line is outlined below in **Reporting requirements)**.

Close personal relationships in the office

When associates have a close personal, intimate or familial relationship in the workplace, it can create an actual or potential conflict of interest. It can also negatively impact the work environment. For this reason, Capital requires that all associates report any personal intimate or familial relationship with another associate or a business partner employee to Human Resources. Under this policy, certain relationships are prohibited, such as intimate relationships between managers and associates in their reporting lines.

Interacting with the public

Regardless of whether you are speaking on behalf of Capital or simply using social media for personal use, we expect all associates to maintain both client and firm confidentiality, and to protect the firm's reputation. The lines between public and private, personal and professional, can become blurred, particularly within the realm of social media. By identifying yourself as a Capital associate within a social network, you are connected, either directly or indirectly, to colleagues, managers, clients and investors. Information originally intended for friends and family can be forwarded and, ultimately, lead to unintended consequences. For this reason, associates should exercise extra caution and good judgment and avoid mixing personal and business social networks and ensure that they abide by all local laws and regulations and applicable Capital policies, such as the policy against harassment.

Protecting sensitive information

Capital Group regularly creates, collects, and maintains valuable proprietary information, which is essential to our business operations and the performance of services for our clients. This information derives its value, in part, from not being generally known outside of Capital (hereinafter "Confidential Information"). It includes confidential electronic information in any medium, hard-copy information, and information shared orally or visually (such as by telephone or video conference). The confidentiality, integrity and limited availability of such information is regarded as fundamental to the successful business operations of Capital Group. The purpose of the Confidential Information Policy is to protect our information from disclosure – intentional or inadvertent – and to ensure that associates understand their obligation to protect and maintain its confidentiality.

**Code of Ethics guidelines**

No special treatment from broker-dealers

Associates may not accept negotiated commission rates or any other terms they believe may be more favorable than the broker-dealer grants to accounts with similar characteristics. U.S. broker-dealers are subject to certain rules designed to prevent favoritism toward such accounts. Favors or preferential treatment from broker-dealers may not be accepted. This rule applies to the associate's spouse/spouse equivalent and any immediate family member residing in the same household.

No excessive trading of Capital-affiliated funds

Associates should not engage in excessive trading of the American Funds or other Capital-managed investment vehicles worldwide in order to take advantage of short-term market movements. Excessive activity, such as a frequent pattern of exchanges, could involve actual or potential harm to shareholders or clients. This rule applies to the associate's spouse/spouse equivalent and any immediate family member residing in the same household.

Ban on Initial Public Offerings (IPOs) and Initial Coin Offerings (ICOs)

All associates and immediate family members residing in the same household may not participate in IPOs or ICOs.

Exceptions for participation in IPOs are rarely granted; however, they will be considered on a case-by-case basis (for example, where a family member is employed by the IPO company and IPO shares are considered part of that family member's compensation).

Avoiding conflicts

Associates must avoid conflicts of interest that can occur when their business, financial or other interests interfere, or reasonably appear to interfere, with their duty to serve the interests of Capital and our clients. Conflicts of interest include any situation where financial or other personal factors compromise objectivity or professional judgment. Even the appearance of conflict could negatively impact Capital and harm our reputation.

Portfolio managers and investment analysts should be aware of the potential conflicts that can arise when they invest on behalf of fund shareholders and clients. The investments we make for our clients must be based on their best interests, and should not be, or appear to be, based on the self-interest of our associates. Accordingly, members of the investment group must disclose to the Code of Ethics Team if they or any of their family members, such as parents, children, siblings, in-laws or other family members with whom they have a close relationship, has a material business, financial or personal relationship with a company that they hold or are eligible to purchase professionally. Examples of a material relationship include: (1) a family member serving as a senior officer or executive of a portfolio company, (2) significant beneficial ownership of a portfolio company by the associate or their family members, and (3) involvement by the associate or a family member in a significant transaction or business opportunity with a portfolio company.

In addition, associates should avoid conflicts related to Capital's business, and therefore must not:

- Engage in a business that competes, directly or indirectly, with the interests of Capital, or is related to their role or responsibilities at Capital;

- Act for Capital in any transaction or business relationship that involves the associate, members of their family or other people or organizations with whom the associate or their family member(s) have a significant personal connection or financial interest;

- Negotiate with Capital on behalf of any such people or organizations; or

- Use or attempt to use their position at Capital to obtain any improper personal benefit for themselves, family member(s) or any other party.

No policy can anticipate every possible conflict of interest and all associates must be vigilant in guarding against anything that could color our judgment. Any associate who is aware of a transaction or relationship that could reasonably be expected to give rise to a conflict of interest or perceived conflict of interest must disclose the matter promptly to a member of the Code of Ethics Team. If there is any doubt or if something does not feel consistent with our standards, raise the issue.

Any changes in a previously disclosed potential conflict, outside business interest or affiliation that could be relevant to an evaluation of a potential conflict must also be promptly disclosed. Examples of changes to disclose include: (1) a change in research coverage of an investment analyst to include a company with a family member serving as a senior executive (even if the senior executive relationship had previously been disclosed); (2) a change in an associate's role to trader if the associate had previously disclosed a sibling who works as a sell-side trader; and 3) a change in the line of business or activities of an outside business interest of an associate.

Outside business interests/affiliations

Associates should avoid outside business interests or affiliations that may give rise to conflicts of interest or that may create divided loyalties, divert substantial amounts of their time, or compromise their independent judgment.

Associates must obtain approval from the Code of Ethics Team to serve on the board of directors or as an advisory board member of any public or private company. This rule does not apply to: (1) boards of Capital companies or funds; (2) board service that is a direct result of the associate's responsibilities at Capital, such as for portfolio companies of private equity funds managed by Capital; or (3) boards of non-profit and charitable organizations. Associates must disclose to the Code of Ethics Team if they serve on the board of a non-profit or charitable organization that has issued or has future plans to issue publicly held securities, including debt obligations.

In addition, associates must disclose to the Code of Ethics Team if they or any of their family members, such as parents, children, siblings, in-laws or other family members with whom they have a close relationship:

- serves as a board director or as an advisory board member of,

- holds a senior officer position, such as CEO, CFO or Treasurer with, or

owns 5% or more, individually or together with other such family members, of

any public company or any private company that may be reasonably expected to go public.

In addition to the disclosure obligations set forth above, associates should be mindful of and must disclose to the Code of Ethics Team any other outside business interest or activity that may present a conflict of interest or the appearance of a conflict of interest or that may compromise their independent judgment. For example, associates must disclose if they have a significant interest in a private company that does business with or competes with Capital, even if that company is not reasonably expected to go public.

Family members employed by a financial institution

Associates who are "Covered Associates" (as defined below) must disclose if any of their family members, such as parents, children, siblings, in-laws or other family members with whom they have a close relationship, is employed by a broker-dealer, investment adviser or other firm that provides investment research or trade execution services to Capital.

Requests for approval or questions may be directed to the Code of Ethics Team.

Other guidelines

Statements and disclosures about Capital, including those made to fund shareholders and clients and in regulatory filings, should be accurate and not misleading.

**Reporting requirements**

Annual certification of the Code of Ethics

All associates are required to certify at least annually that they have read and understand the Code of Ethics. Questions or issues relating to the Code of Ethics should be directed to the associate's manager or the Code of Ethics Team.

Reporting violations

All associates are responsible for complying with the Code of Ethics. As part of that responsibility, associates are obligated to report violations of the Code of Ethics promptly, including: (1) fraud or illegal acts involving any aspect of Capital's business; (2) noncompliance with applicable laws, rules and regulations; (3) intentional or material misstatements in regulatory filings, internal books and records, or client records and reports; or (4) activity that is harmful to fund shareholders or clients. Deviations from controls or procedures that safeguard Capital, including the assets of shareholders and clients, should also be reported. Reported violations of the Code of Ethics will be investigated and appropriate action will be taken, which may include reporting the matter to the firm's regulator if determined to be appropriate by legal counsel. Once a violation has been reported, all associates are required to cooperate with Capital in the internal investigation of any matter by providing honest, truthful and complete information.

Associates may report confidentially to a manager/department head or to the Open Line Committee.

Associates may also contact the Chief Compliance Officers of CB&T, CIInc, CRC, CIAM, CRMC, or legal counsel employed with Capital.

**Capital strictly prohibits retaliation against any associate who in good faith makes a complaint, raises a concern, provides information or otherwise assists in an investigation regarding any conduct that he or she reasonably believes to be in violation of the Code of Ethics. This policy is designed to ensure that associates comply with their obligations to report violations without fear of retaliation.**

**Policies**

Capital's policies regarding gifts and entertainment, political contributions, insider trading and personal investing are summarized below.

Gifts and Entertainment Policy

The Gifts and Entertainment Policy (Policy) is intended to ensure that gifts and entertainment involving associates do not raise questions of propriety regarding Capital's business relationships or prospective business relationships, or Capital's interactions with government officials. If a gift or entertainment is excessive, repetitive or extravagant, it can raise the appearance of favoritism or the potential for a conflict of interest. By understanding and following the Policy requirements, associates help Capital safeguard the company and ensure compliance with regulatory rules.

Associates may not accept from or give to any one individual or entity a gift or group of gifts exceeding in aggregate $100 in a 12-month calendar year period if such a person or entity conducts, or may conduct, business with Capital. Trading department associates are subject to different limits and reporting requirements and are generally not permitted to receive gifts. Trading associates may be asked to return gifts received.

Associates must receive approval from their manager and the Code of Ethics Team before accepting or extending entertainment with a market value greater than $500. This value is cumulative for associates and their invited guests. Trading department associates are prohibited from accepting entertainment, regardless of value, unless the associate or Capital pays.

Gifts or entertainment extended to a private-sector person by a Capital associate and approved by the associate's manager for reimbursement by Capital do not need to be reported (or precleared). Trading department associates should report gifts and entertainment extended regardless of reimbursement. Dollar amounts refer to U.S. dollars.

Please note AFD/CGIIS associates are subject to separate policies regarding extending gifts and entertainment and are also required under the Policy to report all gifts and entertainment, regardless of value.

Capital Group is registered as a federal lobbyist and special rules apply to gifts and entertainment involving government officials and employees as a result. Associates must receive approval from Capital's Code of Ethics Team prior to either: (1) hosting a federal government official or employee at a Capital facility if anything of value (e.g. food, tangible item) will be presented to that individual; or (2) providing anything of value to a federal government official or employee if Capital will pay or reimburse for the related cost.

Reporting

The limitations relating to gifts and entertainment apply to all associates as described above, and associates will be asked to complete quarterly disclosures. Associates must report any gift exceeding $50 and business entertainment in which an event exceeds $75 (although it is recommended that associates report all gifts and entertainment). Trading department associates should notify the Code of Ethics Team *when gifts are received* and report such gifts quarterly, whether the gift is received by an individual associate or by a department. In addition, trading associates should report gifts and entertainment *extended* regardless of reimbursement.

Charitable contributions

Associates must not allow Capital's present or anticipated business to be a factor in soliciting political or charitable contributions from outside parties. In addition, it is generally not appropriate to solicit these outside parties or Capital associates for donations to a family-run non-profit organization, family foundation, donor-advised fund or other charitable organization in which an associate or their family members are significantly involved. Board membership alone would not be considered significant involvement.

Entertainment, Gifts and Personal Investing Committee (Committee)

The Committee oversees administration of the Policy. Questions regarding the Gifts and Entertainment Policy may be directed to the Code of Ethics Team.

Political Contributions Policy

Associates must be cautious when engaging in personal political activities, particularly when supporting officials, candidates, or organizations that may be in a position to influence decisions to award business to investment management firms. Associates should not make political contributions to officials or candidates (in any country) for the purpose of influencing the hiring of a Capital Group company as an advisor to a governmental entity. Associates are encouraged to contact the Code of Ethics Team with any questions about this policy.

Associates may not use Capital offices or equipment to engage in political fundraising or solicitation activity, for example, hosting a fundraising event at the office or using Capital phones or email systems to help solicit donations for an elected official, a candidate, Political Action Committee (PAC) or political party. Associates may volunteer their time on behalf of a candidate or political organization but should limit volunteer activities to non-work hours.

For contributions or activities supporting candidates or political organizations *within the U.S.*, we have adopted the guidelines set forth below, which apply to associates classified as "Restricted Associates."<br>

Guidelines for political contributions and activities within the U.S.

<br> U.S. Securities and Exchange Commission (SEC) regulations limit political contributions to certain Covered Government Officials by certain employees of investment advisory firms and certain affiliated companies. "Covered Government Official," for purposes of the Political Contributions Policy, is defined as: (1) a state or local official; (2) a candidate for state or local office; or (3) a federal candidate currently holding state or local office.

Many U.S. cities and states have also adopted regulations restricting political contributions by associates of investment management firms seeking to provide services to a governmental entity. Some associates are also subject to these regulations.

Restricted Associates

Certain associates are deemed "Restricted Associates" under this Policy. Restricted Associates include (1) "covered associates" as defined in the SEC's rule relating to political contributions by investment advisers (Rule 206(4)-5 under the Investment Advisors Act of 1940); and (2) other associates who do not meet that definition but whom Capital has determined should be subject to the restrictions on political contributions contained in the Policy based on their roles and responsibilities at Capital. Contributions by Restricted Associates and their spouse/spouse equivalent are subject to specific limitations, preclearance, and reporting requirements as described below.

Preclearance of political contributions

Contributions by Restricted Associates to any of the following must be precleared:

- State or local officials, or candidates for state or local office

- Federal candidate campaigns and affiliated committees, including federal incumbents and presidential candidates

- Political organizations such as Political Action Committees (PACs), Super PACs and 527 organizations and ballot measure committees

- Non-profit organizations that may engage in political activities, such as 501(c)(4) and 501(c)(6) organizations

Restricted Associates must also preclear U.S. political contributions by their spouse/spouse equivalent to any of the foregoing, as well as contributions to any state, local or federal political party or political party committee, **<u>if</u>** the aggregate contributions by the Restricted Associate and spouse/spouse equivalent to any one candidate or political entity equals or exceeds $100,000 in a calendar year.

Certain documentation is required for contributions to Covered Governmental Officials, PACs or Super PACs, and may be required for contributions to other entities that engage in political activity. See "Required documentation" below for further details. To preclear a contribution, please contact the Code of Ethics Team.

Contributions include:

- Monetary contributions, gifts or loans

- "In kind" contributions (for example, donations of goods or services or underwriting or hosting fundraisers)

- Contributions to help pay a debt incurred in connection with an election (including transition or inaugural expenses, and purchasing tickets to inaugural events)

- Contributions to joint fund-raising committees

- Contributions made by a Political Action Committee (PAC) controlled by a Restricted Associate1

1 "Control" for this purpose includes service as an officer or member of the board (or other governing body) of a PAC.

Required documentation

Restricted Associates must obtain additional documentation from an independent legal authority before they will be approved to contribute to Covered Government Officials. The purpose of the legal documentation is to verify that a specific state or local office does not have the ability to directly or indirectly influence the awarding of business to an investment manager. For contributions to PACs, Super PACs, or other entities that engage in political activities, Restricted Associates may be required to obtain a certification that the entity does not contribute to Covered Government Officials. The Code of Ethics Team will provide language for the documentation when you preclear the contribution.

If a candidate currently holds a state/local office and is running for a different state/local office, legal documentation must be obtained for both the current position and the office for which the candidate is running. Exceptions to the documentation requirements may be granted on a case-by-case basis.

Special political contribution requirements – CollegeAmerica and ABLEAmerica

Certain associates involved with "CollegeAmerica," the American Funds 529 college savings plan and "ABLEAmerica," the American Funds nationwide plan for individuals with disabilities, sponsored by the Commonwealth of Virginia, are subject to additional restrictions which prohibit them from contributing to Virginia political candidates or parties.

Administration of the Political Contributions Policy

The U.S. Public Policy Coordinating Group oversees the administration of this Policy, including considering and granting possible exceptions. Questions regarding the Political Contributions Policy may be directed to the Code of Ethics Team.

Insider Trading Policy

Antifraud provisions of U.S. securities laws as well as the laws of other countries generally prohibit persons in possession of material non-public information from trading on or communicating the information to others. Sanctions for violations can include civil injunctions, permanent bars from the securities industry, civil penalties up to three times the profits made or losses avoided, criminal fines and jail sentences. In addition, trading in fund shares while in possession of material, non-public information that may have an immediate impact on the value of the fund's shares may constitute insider trading.

While investment research analysts are most likely to come in contact with material non-public information, the rules (and sanctions) in this area apply to all Capital associates and extend to activities both within and outside each associate's duties. Associates who believe they have material non-public information should contact any lawyer in the organization.

Personal Investing Policy

*This policy applies only to "Covered Associates." Special rules apply to certain associates in some non-U.S. offices.* 

The Personal Investing Policy (Policy) sets forth specific rules regarding personal investments that apply to "covered" associates. These associates may have access to confidential information that places them in a position of special trust. Under the Code of Ethics, associates are responsible for maintaining the highest ethical standards. Associates are reminded that the requirements of the Code of Ethics apply to personal investing activities, even if the matter is not covered by a specific provision of the Policy.

**Personal investing should be viewed as a privilege, not a right. As such, the Personal Investing Committee may place limitations on the number of preclearance requests and/or transactions associates make.** 

Covered Associates

"Covered Associates" are associates with access to non-public information relating to current or imminent fund/client transactions, investment recommendations or fund portfolio holdings.<br> The Policy applies to the personal investments of Covered Associates, as well as those of any immediate family member residing in their household – for example, spouse or a person with whom they have a committed relationship, children, siblings and parents – including adoptive, step and in-law relationships.

Questions regarding coverage status should be directed to the Code of Ethics Team.

Additional rules apply to Investment Professionals

"Investment Professionals" include portfolio managers, research directors, investment counselors, investment analysts and research associates, investment group administrative assistants, trading associates, and global investment control associates, including assistants. See "Additional policies for Investment Professionals and CIKK associates" below for more details.

Prohibited transactions

The following transactions are prohibited:

- Initial Public Offering (IPO) investments (this prohibition applies to all Capital associates)

*Note: Exceptions are rarely granted; however, they will be considered on a case-by-case basis (for example, where a family member is employed by the IPO company and IPO shares are considered part of that family member's compensation).*

- Initial Coin Offering (ICO) investments (this prohibition applies to all Capital associates)

- Excessive trading of Capital-affiliated funds

- Spread betting/contracts for difference (CFD) on securities

- Transactions in derivatives on securities and financial contracts, such as options, futures and forwards contracts, with limited exceptions described below

- Short selling of securities – including short selling "against the box," with limited exceptions described below

- Transactions in inverse or inverse/long Exchange Traded Products (ETPs), such as Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs) with limited exceptions described below

- Interest rate swaps (IRS), with limited exceptions described below

Exceptions:

- Derivatives, financial contracts, short selling and investments in inverse or inverse/long ETP transactions are permitted only if they are based on non-reportable instruments (such as currencies and commodities) or if they are based on the S&P 500, Russell 2000 or MSCI EAFE indices

- Interest rate swaps are permitted if based on currencies and government bonds of the G7

Reporting requirements

Covered Associates are required to report any securities accounts, holdings and transactions: (1) in which the Covered Associate or any immediate family member residing in their household has a pecuniary interest (in other words, the ability to obtain an economic benefit or otherwise profit from a security) or (2) over which the Covered Associate or any immediate family member residing in their household exercises investment discretion or has direct or indirect influence or control. Quarterly and annual certifications of accounts, holdings and transactions must also be submitted. An electronic reporting platform is available for these disclosures.

Examples of accounts that must be disclosed include: (1) trusts if the Covered Associate or family member are the grantor or serve as trustee or custodian or have the ability to appoint or remove the trustee, (2) trusts that you or a family member have the power to revoke, (3) trusts for which you or a family member are a beneficiary and exercise investment discretion or have direct or indirect influence or control, and (4) accounts of another person or entity if the Covered Associate or family member makes or influences investment decisions, such as by suggesting purchases and sales of securities in the account. The obligation to disclose accounts includes professionally managed accounts. Please see "Professionally managed accounts" in the Personal Investing Policy for more information.

Covered Associates should immediately notify the Code of Ethics Team when opening new securities accounts; associates may also disclose accounts by logging into Protegent PTA and entering the account information directly.

All Covered Associates and immediate family members residing in their household must use an approved electronic reporting firm for all U.S.-based brokerage accounts. There are some exceptions to this requirement which include professionally managed accounts, employer-sponsored retirement accounts, and employee stock purchase plans. Contact the Code of Ethics Team with questions.

Duplicate statements and trade confirmations (or approved equivalent documentation) are required for accounts holding securities subject to preclearance and/or reporting and should be provided in a timely manner. This requirement includes employer-sponsored retirement accounts and employee stock purchase plans (ESPP, ESOP, 401(k)). Documentation allowing the acquisition of shares via an employer-sponsored plan may be required.

Preclearance procedures

**Certain transactions may be exempt from preclearance; please refer to the Personal Investing Policy for more details.**

Before any purchase or sale of securities subject to preclearance, including securities that are not publicly traded, Covered Associates must receive approval from the Code of Ethics Team. This requirement applies to any purchase or sale of securities in which the Covered Associate or any immediate family member residing in the same household (1) has, or by reason of such transaction may acquire, pecuniary interest (in other words, the ability to obtain an economic benefit or otherwise profit from a security), or (2) exercises investment discretion or direct or indirect influence or control. Transactions in an approved professionally managed account are not subject to preclearance, except for private investments or other limited offerings which require preclearance and reporting. Please refer to the Personal Investing Policy for more details on preclearable securities.

**Submitting preclearance requests**

Submit preclearance requests directly in Protegent. Click on the **PreClear** button on the Dashboard and enter the request details.

Requests are reviewed during New York Stock Exchange (NYSE) hours. A response will generally be sent within one business day.

Unless a different period is specified, clearance is good until the close of the NYSE on the day of the request.

If the precleared trade has not been executed within the cleared timeframe, preclearance **must** be requested again. For this reason, limit orders and margin accounts are strongly discouraged.

Private investments or other limited offerings

Participation in private investments or other limited offerings are subject to special review. The following types of private investments must be precleared:

- Hedge funds

- Private companies

- Limited Liability Companies (LLCs)

- Limited Partnerships (LPs)

- Private equity funds

- Private funds

- Private placements

- Private real estate investment companies

- Venture capital funds

In addition, opportunities to acquire a stock that is "limited" (that is, a broker-dealer is only given a certain number of shares to sell and is offering the opportunity to buy) may be subject to the Gifts and Entertainment Policy.

**Preclearance procedures for private investments** 

Complete the Private Investment Preclear Form and return it to the Code of Ethics Team for review. Pre-approval is also required for additional investments in the same vehicle and a new form must be completed.

Additional policies for Investment Professionals and CIKK associates

Report cross-holdings for certain Investment Professionals

Portfolio managers, research directors and investment analysts are required to report issuers owned personally by you or an immediate family member residing in your household that you also own professionally, on a quarterly basis. If you are a research director or an investment analyst, you are also required to report issuers owned personally by you or an immediate family member residing in your household that are within your research responsibilities. This reporting must be made to the Code of Ethics Team and may be reviewed by various Capital committees.

When recommending a security for purchase or sale in a fund or client account that you or a family member residing in your household own personally, you should first disclose such personal ownership either in writing (in a company write-up) or verbally (when discussing the company at investment meetings) prior to making a recommendation. This disclosure requirement is consistent with both the CFA Institute standards as well as the ICI Advisory Group Guidelines.

Ban on short-term trading

Investment Professionals and CIKK associates are prohibited from engaging in short-term trading of reportable securities and economically equivalent instruments.

Associates and their family members may not buy and then sell or sell and then buy the same security and/or economically equivalent instruments:

Within 60 **-**calendar days for Investment Professionals

- Within 6 months for CIKK associates

Economically equivalent instruments include derivatives or other securities or instruments with a value derived from the value of the subject security. Additionally, they may not enter into an option or other derivative instrument that expires within 60 days from purchase. This ban applies to transactions in all your accounts as well as accounts held by your family members residing in your household. For example, if you sell ABC company in your account, your spouse cannot purchase ABC company for 60 calendar days in their account.

Investment Professionals and CIKK associates should contact the Code of Ethics Team before transacting if they have any questions about the application of this rule to transactions in derivatives.

Failure to comply with this requirement may result in remedial action, including disgorgement of the profits.

Blackout periods

Investment Professionals may not buy or sell a security during the seven calendar days after Capital has transacted in that security's issuer for a fund or client account. If you are affiliated with an investment group, the blackout period applies to trades in the same investment group with which you are affiliated.

If Capital transacts in securities of the same issuer within seven calendar days after you transact, your personal transaction may be reviewed to determine the appropriate action, if any. For example, if you received a better price than the fund or client accounts, you may be subject to a price adjustment, and may be asked to donate to a charitable organization. This blackout period helps mitigate the appearance of front running.

Penalties for violating the Personal Investing Policy

Covered Associates may be subject to penalties for violating the Personal Investing Policy, such as restrictions on personal trading, disgorgement of profits, and other disciplinary action, up to and including termination. In addition, information about particular transactions may be provided to an associate's manager, appropriate Human Resources manager and/or a Chief Compliance Officer (CCO) by the Code of Ethics Team if the transactions are in violation of this Policy. These violations may raise conflict of interest-related issues or impact the associate's performance review.

Violations to the Policy include failure to preclear and failure to report securities transactions and securities accounts. Failure to submit timely initial, quarterly and annual certifications may result in violations.

Entertainment, Gifts and Personal Investing Committee (Committee)

The Committee oversees the administration of the Policy. Among other duties, the Committee considers certain types of preclearance requests as well as requests for exceptions to the Policy.

Questions regarding the Personal Investing Policy may be directed to the Code of Ethics Team.

**\* \* \* \* \***

Questions regarding the Code of Ethics may be directed to the Code of Ethics Team.

------

[Logo – American Funds®]

The following is representative of the Code of Ethics in effect for each Fund:

**CODE OF ETHICS**

With respect to non-affiliated Board members and all other access persons to the extent that they are not covered by The Capital Group Companies, Inc. policies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· No Board member shall so use his or her position or knowledge gained therefrom as to create a conflict between his or her personal interest and that of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· No Board member shall engage in excessive trading of shares of the fund or any other affiliated fund to take advantage of short-term market movements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each non-affiliated Board member shall report to the Secretary of the Fund not later than thirty (30) days after the end of each calendar quarter any transaction in securities which such Board member has effected during the quarter which the Board member then knows to have been effected within fifteen (15) days before or after a date on which the Fund purchased or sold, or considered the purchase or sale of, the same security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· For purposes of this Code of Ethics, transactions involving United States Government securities as defined in the Investment Company Act of 1940, bankers' acceptances, bank certificates of deposit, commercial paper, or shares of registered open-end investment companies are exempt from reporting as are non-volitional transactions such as dividend reinvestment programs and transactions over which the Board member exercises no control.

\* \* \* \*

In addition, the Fund has adopted the following standards in accordance with the requirements of Form N-CSR adopted by the Securities and Exchange Commission pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 for the purpose of deterring wrongdoing and promoting: 1) honest and ethical conduct, including handling of actual or apparent conflicts of interest between personal and professional relationships; 2) full, fair, accurate, timely and understandable disclosure in reports and documents that a fund files with or submits to the Commission and in other public communications made by the fund; 3) compliance with applicable governmental laws, rules and regulations; 4) the prompt internal reporting of violations of the Code of Ethics to an appropriate person or persons identified in the Code of Ethics; and 5) accountability for adherence to the Code of Ethics. These provisions shall apply to the principal executive officer or chief executive officer and treasurer ("Covered Officers") of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. It is the responsibility of Covered Officers to foster, by their words and actions, a corporate culture that encourages honest and ethical conduct, including the ethical resolution of, and appropriate disclosure of conflicts of interest. Covered Officers should work to assure a working environment that is characterized by respect for law and compliance with applicable rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Each Covered Officer must act in an honest and ethical manner while conducting the affairs of the Fund, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships. Duties of Covered Officers include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Acting with integrity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Adhering to a high standard of business ethics; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Not using personal influence or personal relationships to improperly influence investment decisions or financial reporting whereby the Covered Officer would benefit personally to the detriment of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Each Covered Officer should act to promote full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with or submits to, the Securities and Exchange Commission and in other public communications made by the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Covered Officers should familiarize themselves with disclosure requirements applicable to the Fund and disclosure controls and procedures in place to meet these requirements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Covered Officers must not knowingly misrepresent, or cause others to misrepresent facts about the Fund to others, including the Fund's auditors, independent directors, governmental regulators and self-regulatory organizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Any existing or potential violations of this Code of Ethics should be reported to The Capital Group Companies' Personal Investing Committee. The Personal Investing Committee is authorized to investigate any such violations and report their findings to the Chairman of the Audit Committee of the Fund. The Chairman of the Audit Committee may report violations of the Code of Ethics to the Board or other appropriate entity including the Audit Committee, if he or she believes such a reporting is appropriate. The Personal Investing Committee may also determine the appropriate sanction for any violations of this Code of Ethics, including removal from office, provided that removal from office shall only be carried out with the approval of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Application of this Code of Ethics is the responsibility of the Personal Investing Committee, which shall report periodically to the Chairman of the Audit Committee of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Material amendments to these provisions must be ratified by a majority vote of the Board. As required by applicable rules, substantive amendments to the Code of Ethics must be filed or appropriately disclosed.