San Francisco, CA – Dodge & Cox has made a contractual agreement to cover all routine expenses of the Fund in order to maintain Total Annual Fund Operating Expenses for Class I shares at 0.45% and Class X shares at 0.37% until April 30, 2026. This agreement cannot be terminated before the specified date without the approval of the Fund’s Board of Trustees. The term of the agreement will automatically renew for subsequent three-year terms unless terminated with at least 30 days’ written notice by either party before the end of the current term.

These routine expenses exclude certain fees and expenses such as nonrecurring shareholder account fees, expenses related to shareholder meetings, and fees on portfolio transactions. The agreement also does not allow Dodge & Cox to recover any fees waived or payments made to the Fund for a prior year.

It should be noted that all returns mentioned are in U.S. dollars, and the Funds’ total returns include the reinvestment of dividend and capital gain distributions. The information provided is not a complete analysis of every material fact concerning any market, industry, or investment, as data has been obtained from reliable sources but does not guarantee future results.

Investing in the Dodge & Cox Fund comes with risks related to interest rates, credit, foreign currency, derivatives, and various other factors. Before investing, individuals should carefully consider the Fund’s investment objectives, risks, and expenses.

Individual bonds and securities in the Fund may fluctuate in value, subjecting investments to potential loss. It is essential to fully understand the risks associated with investing in the Dodge & Cox Fund and to review the prospectus carefully before making any decisions.

To obtain more information about the Dodge & Cox Fund, including current performance figures and prospectuses, individuals can visit the Dodge & Cox website or contact Foreside Fund Services, LLC for distribution services. Dodge & Cox is not affiliated with Foreside Fund Services, LLC, underscoring the importance of conducting thorough research before investing.