Capital Group KKR U.S. Equity+

The fund’s investment objective is to seek long-term capital appreciation.

With respect to publicly traded equity securities, the fund expects to invest primarily in securities of large and mid-capitalization issuers. The fund’s private equity holdings will primarily be buyout and growth equity investments. As a result of the fund’s investments in K-PEC and/or other KKR Vehicles, the fund will, in effect, concentrate in the financial services group of industries by investing more than 25% of its total assets in the securities of companies that are principally engaged in such industries.

The fund provides a U.S.-focused extension to traditional equity portfolios through a blended strategy which includes both publicly traded equity and private equity investments. The fund generally expects to invest approximately 60% of its net assets in a core portfolio of publicly traded equity securities and 40% in a portfolio of private equity investments. Normally, the private equity investments will comprise an allocation of approximately 30% to KKR Private Equity Conglomerate LLC or another similar KKR offering and approximately 10% in co-investments sourced by KKR. Such allocation between public and private equity securities may fluctuate (potentially significantly) depending on market conditions and the fund’s subscription and repurchase activities.

Under normal circumstances, the fund will invest at least 80% of its net assets in equity securities of companies in the United States.

The Fund expects to make repurchase offers on a quarterly basis. The Fund currently conducts quarterly repurchase offers for 5% of its outstanding shares under ordinary circumstances, subject to approval of the board. The Fund expects its first repurchase offer to be issued no later than the second full calendar quarter after the date that the Fund’s registration statement becomes effective. Written notification of each quarterly repurchase offer will be sent to shareholders at least twenty-one (21) days and no more than forty-two (42) days before the date by which shareholders can tender their shares in response to a repurchase offer (the “Repurchase Request Deadline”).