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Statements in the above presentation are not a complete analysis of every material fact concerning any market, industry, or investment. Opinions expressed are subject to change without notice.

Information provided is historical, does not predict future results or profitability, and is subject to change without notice. This is not a recommendation to buy or sell any security and is not indicative of Dodge & Cox’s current or future trading activity. Any securities identified do not represent an account’s entire holdings; holdings are subject to change at any time without notice.

Investment in mutual funds involves risk, including possible loss of principal invested. Returns represent past performance and do not guarantee future results. Investment return and share price will fluctuate with market conditions, and investments may have a gain or loss when shares are sold.

This site is for persons in the United States only.

Dodge & Cox offers investment management services designed specifically for various categories of investors. Investment management services are only offered to such investors in those countries and regions in accordance with applicable laws and regulations. This Web site is for informational purposes only and should not be construed as an offer to sell, a solicitation to buy, or a recommendation for any security, or as an offer to provide investment management services in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. By using this Web site, you agree to hold Dodge & Cox, any of its affiliates, and each of their respective directors, officers, employees and agents harmless from any losses, expenses, costs or liabilities (including attorneys’ fees) which may be incurred in connection with the use of this Web site.

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