UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

(Exact name of registrant as specified in charter)

 

| AEPGX

additional

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting informationis available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| AEPCX

Additional information about the fund, including its , financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| TEUPX

information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| AEGFX

Management's discussion of fund performance

The fund’s Class F-1 shares gained 21.84% for the year ended March 31, 2026. That result compares with a 24.91% gain for the MSCI ACWI (All Country World Index) ex USA. For information on returns for additional periods, including the fund lifetime, please refer to

capitalgroup.com/mutual-fund-returns-F1

.

Portfolio holdings by sector 

(percent of net assets)

Material fund

changes

This is a summary of certain changes to the fund since April 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by June 1, 2026 at

capitalgroup.com/mutual-fund-literature-F1

or upon request at

(

800) 421-4225

.

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| AEPFX

additional

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| FEUPX

Management's discussion of fund performance

The fund’s Class F-3 shares gained 22.30% for the year ended March 31, 2026. That result compares with a 24.91% gain for the MSCI ACWI (All Country World Index) ex USA. For information on returns for additional periods, including the fund lifetime, please refer to

capitalgroup.com/mutual-fund-returns-F3

.

Portfolio holdings by sector 

(percent of net assets)

Material fund

changes

This is a summary of certain changes to the fund since April 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by June 1, 2026 at

capitalgroup.com/mutual-fund-literature-F3

or upon request at

(800) 421-4225

.

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| CEUAX

 

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| CEUCX

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| CEUEX

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| TEUGX

Management's discussion of fund performance

The fund’s Class 529-T shares gained 22.12% for the year ended March 31, 2026. That result compares with a 24.91% gain for the MSCI ACWI (All Country World Index) ex USA.

Portfolio

holdings

by sector 

(percent of net assets)

Material fund changes

This is a summary of certain changes to the fund since April 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by June 1, 2026 at

capitalgroup.com/mutual-fund-literature

or upon request at

(800) 421-4225

.

additional

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| CEUFX

 

Management's discussion of fund performance

The fund’s Class 529-F-1 shares gained 22.08% for the year ended March 31, 2026. That result compares with a 24.91% gain for the MSCI ACWI (All Country World Index) ex USA. For information on returns for additional periods, including the fund lifetime, please refer to

capitalgroup.com/mutual-fund-returns-529F1

.

Portfolio

holdings

by sector 

(percent of net assets)

Material fund changes

This is a summary of certain changes to the fund since April 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by June 1, 2026 at

capitalgroup.com/mutual-fund-literature-529F1

or upon request at

(800) 421-4225

.

additional

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| FUEPX

 

additional

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| FEPUX

information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at .

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at , or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

 

| RERAX