T. ROWE PRICE FUNDS SICAV

Global Growth Equity Fund – Carbon Footprint
As of 30 June 2024
At T. Rowe Price, we recognize that many of our clients wish to understand the carbon footprint of their portfolios and, assuch, we provide the following analysis.
While carbon footprint analysis can be a useful tool for comparing portfolios, we would caution that a significant portion of the
carbon emissions data set is estimated as many companies do not report this figure. In particular, there is typically a greater
degree of estimation included in Scope 3 Carbon Emissions data.
Additionally, the statistic of carbon intensity can lack informational relevance in some cases. Carbon intensity is a calculationof carbon emissions divided by revenues, so a low emitting company selling an inexpensive product can have a higher
carbon footprint than a high emitting company selling an expensive product; and trend movements can be skewed bycurrency moves affecting revenues.
The following analysis is produced by T. Rowe Price using data provided by Sustainalytics.
The comparator benchmark of the Fund is the MSCI All Country World Net Index. The manager is not constrained by thefund's benchmark, which is used for performance comparison purposes only.

INVESTMENT OBJECTIVE: To increase the value of its shares, over the long term, through growth in the value of its
investments.
INVESTMENT PROCESS: The fund is actively managed and invests mainly in a diversified portfolio of shares ofcompanies that have the potential for above-average and sustainable rates of earnings growth. The companies may be
anywhere in the world, including emerging markets. Although the fund does not have sustainable investment as an
objective, the promotion of environmental and/or social characteristics is achieved through the fund’s commitment tomaintain at least 10% of the value of its portfolio invested in sustainable investments, as defined by the SFDR. In addition
to the E/S characteristics promoted, the fund also applies the investment manager’s proprietary responsible screen (the T.
Rowe Price Responsible Exclusion List). The fund may use derivatives for hedging and efficient portfolio management. For
full investment objective and policy details refer to the prospectus. The manager is not constrained by the fund’s
benchmark, which is used for performance comparison purposes only.
This marketing communication is for investment professionals only. Not for further distribution.

T. Rowe Price Funds SICAV Global Growth Equity FundAs of 30 June 2024

EXECUTIVE SUMMARY
Data Availability

Carbon Metrics

Total
Percentage
Percentage Percentage Percentage of Carbon
of Dataof Dataof Data
Metrics
Available
Reported Estimated
Pro-rated

CarbonTotal Emissions per
CarbonUS $1 mn
Emissions
Invested

Weighted
Average
CarbonIntensity

%

%

%

%

mtCO2emtCO2e /US$1 mn
AuM

mtCO2e /US$1 mn
Revenue

Fund

97.40

91.48

5.92

2.60

14,869

27.23

63.04

Benchmark

99.29

92.98

6.32

0.71

40,60774.37

129.30-63.4%-63.4%-51.2%

Scope 1 & 2 Carbon Emissions

Fund vs Benchmark
Scope 1, 2 & 3 Carbon Emissions
Fund

97.40

80.63

16.77

2.60

163,477

299.42592.93

Benchmark

99.15

81.82

17.33

0.85

312,772

572.87878.16-47.7%-47.7%-32.5%

Fund vs Benchmark

The benchmark carbon metrics are calculated using the total net assets of the Fund invested according to the compositionof the benchmark.
An explanation of the terms used in the above table is included in the Glossary.

GLOSSARY OF TERMS
Scope 1 - Direct Carbon Emissions from owned or controlled sources (e.g. fuel combustion, company vehicles, fugitive
emissions).

Scope 2 - Indirect Carbon Emissions from the generation of purchased electricity, steam, heating and cooling consumed by
the reporting company.
Scope 3 - Includes all other indirect Carbon Emissions that occur in a company’s value chain (e.g. purchased goods andservices, business travel, employee commuting, waste disposal, use of sold products, transportation and distribution (up- anddownstream), Investments, leased assets and franchises).
mtCO2e - Metric tons of carbon dioxide equivalent.
Percentage of Data Reported - The percentage for which Carbon Emissions data is reported by Companies.
Percentage of Data Estimated - The percentage for which Carbon Emissions data is estimated by Sustainalytics.
Percentage of Carbon Metrics Pro-rated - The percentage of the Fund and Benchmark which are pro-rated based on the
Carbon Metrics of the remainder.
Total Carbon Emissions - Total amount of greenhouse gas (GHG) emissions that are released by the Fund holdings thatare attributable to the % ownership of the Fund in each company, aggregated to give the total carbon emissions equivalent for
the Fund. This metric is grossed up using the percentage of data available to give the overall carbon footprint of the Fund.
Only applicable to equities.
Carbon Emissions per US$1mn investment in the Fund - This metric enables an investor to calculate the carbon
emissions of their investment in the Fund. Only applicable to equities.

Weighted Average Carbon Intensity - The weighted average, by Fund weight, of the total carbon emissions per US$1mn ofrevenues for each of the Fund holdings. This metric gives the Fund’s exposure to carbon intensive companies and can beapplied across equity and fixed income portfolios. This is the Task Force on Climate-Related Financial Disclosures (TCFD)
recommended metric.

T. Rowe Price Funds SICAV Global Growth Equity FundAs of 30 June 2024

TOTAL SCOPE 1&2 CARBON EMISSION ALLOCATION BY SECTOR

Total Carbon Emissions by Sector (mtCO2e)
45,00040,00035,00030,00025,00020,00015,00010,000
5,000

0
Fund

BenchmarkMaterials

EnergyConsumer Staples

Industrials & Business Services

Information Technology

Consumer Discretionary

Utilities

Financials

Communication Services

Health Care

Real Estate

TOP 10 COMPANY CONTRIBUTORS TO TOTAL SCOPE 1&2 CARBON EMISSIONS

Company

Sector

WeightCarbonEmissionsContribution

CarbonEmissions%%%

mtCO2ePortfolio
WeightActiveCF Industries

Materials

0.46

0.44

22.75

3,382

Linde PLC

Materials

0.99

0.70

6.68

993

Sumber Alfaria TrijayaConsumer Staples

1.07

1.07

6.53

972

Galp Energia Sgps

Energy

0.79

0.78

6.29

936

West Fraser Timber

Materials

0.45

0.44

5.53

822

Targa Resources

Energy

0.30

0.26

4.56

678

ConocoPhillips

Energy

0.86

0.68

3.90

580

Reliance Industries

Energy

0.55

0.40

3.71

552

Steel Dynamics

Materials

0.34

0.31

3.10

461

Constellation Energy

Utilities

0.45

0.37

2.56

381

6.26

–

65.61

9,755

Total of Top 10

The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for the
SICAV sub-fund, and no assumption should be made that the securities identified and discussed were or will be profitable.

T. Rowe Price Funds SICAV Global Growth Equity FundAs of 30 June 2024

WEIGHTED AVERAGE SCOPE 1&2 CARBON INTENSITY CONTRIBUTION BY SECTOR

Weighted Average Carbon Intensity Contributions by Sector(mtCO2e / US$1 mn Revenue)
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
Fund
Materials
Industrials & Business Services
Utilities
Health Care

BenchmarkEnergyInformation Technology
Financials
Real EstateConsumer Staples
Consumer Discretionary
Communication Services

TOP 10 COMPANY CONTRIBUTORS TO WEIGHTED AVERAGE SCOPE 1&2 CARBON
INTENSITY
Company

SectorActiveWeighted
Average
CarbonIntensity

Portfolio
WeightWeight%%mtCO2e /US$1 mn
Revenue

Linde PLC

Materials

0.99

0.70

11.46

CF Industries

Materials

0.46

0.44

7.48

Waste Connections

Ind. & Business Services

0.53

0.47

3.68

Reliance Industries

Energy

0.55

0.40

2.80

Taiwan Semiconductor Manufacturing

Information Technology

1.55

0.56

2.62

Sumber Alfaria TrijayaConsumer Staples

1.07

1.07

1.86

ConocoPhillips

Energy

0.86

0.68

1.81

Constellation Energy

Utilities

0.45

0.37

1.80

Targa Resources

Energy

0.30

0.26

1.69

Microsoft

Information Technology

4.93

0.65

1.66

11.70

–

36.84

Total of Top 10

The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for the
SICAV sub-fund, and no assumption should be made that the securities identified and discussed were or will be profitable.

T. Rowe Price Funds SICAV Global Growth Equity FundAs of 30 June 2024

TOTAL SCOPE 1,2&3 CARBON EMISSION ALLOCATION BY SECTOR

Total Carbon Emissions by Sector (mtCO2e)
350,000
300,000
250,000
200,000
150,000
100,000
50,0000
Fund

BenchmarkEnergyIndustrials & Business Services

Materials

Consumer Staples

Information Technology

Utilities

Consumer Discretionary

Health Care

Financials

Communication Services

Real Estate

TOP 10 COMPANY CONTRIBUTORS TO TOTAL SCOPE 1,2&3 CARBON EMISSIONS

Company

Sector

WeightCarbonEmissionsContribution

CarbonEmissions%%%

mtCO2ePortfolio
WeightActiveGE

Ind. & Business Services

0.63

0.40

17.89

29,253

EQT

Energy

0.79

0.77

16.81

27,476

CF Industries

Materials

0.46

0.44

8.73

14,275Galp Energia Sgps

Energy

0.79

0.78

8.23

13,458SiemensInd. & Business Services

0.61

0.41

6.44

10,535

ConocoPhillips

Energy

0.86

0.68

5.56

9,094

West Fraser Timber

Materials

0.45

0.44

2.81

4,597

EOG Resources

Energy

0.45

0.35

2.48

4,052

InRetail Peru

Consumer Staples

0.51

0.51

2.47

4,041

Constellation Energy

Utilities

0.45

0.37

2.26

3,691

6.01

–

73.69

120,472

Total of Top 10

The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for the
SICAV sub-fund, and no assumption should be made that the securities identified and discussed were or will be profitable.

T. Rowe Price Funds SICAV Global Growth Equity FundAs of 30 June 2024

WEIGHTED AVERAGE SCOPE 1,2&3 CARBON INTENSITY CONTRIBUTION BY SECTOR

Weighted Average Carbon Intensity Contributions by Sector(mtCO2e / US$1 mn Revenue)
1,000.0
900.0
800.0
700.0
600.0
500.0
400.0
300.0
200.0
100.0
0.0
Fund
EnergyConsumer Staples
Consumer Discretionary
Communication Services

BenchmarkIndustrials & Business Services
Information Technology
Health Care
Real Estate

Materials
Utilities
Financials

TOP 10 COMPANY CONTRIBUTORS TO WEIGHTED AVERAGE SCOPE 1,2&3 CARBON
INTENSITY
Company

SectorActiveWeighted
Average
CarbonIntensity

Portfolio
WeightWeight%%mtCO2e /US$1 mn
RevenueGE

Ind. & Business Services

0.63

0.40

121.41

EQT

Energy

0.79

0.77

67.48

SiemensInd. & Business Services

0.61

0.41

36.81

CF Industries

Materials

0.46

0.44

31.57

ConocoPhillips

Energy

0.86

0.68

28.30

Linde PLC

Materials

0.99

0.70

19.31

Ares Management

Financials

0.40

0.36

19.05

EOG Resources

Energy

0.45

0.35

18.15

Constellation Energy

Utilities

0.45

0.37

17.40

Procter & Gamble

Consumer Staples

0.69

0.16

17.23

6.34

–

376.71

Total of Top 10

The specific securities identified and described do not represent all of the securities purchased, sold, or recommended for the
SICAV sub-fund, and no assumption should be made that the securities identified and discussed were or will be profitable.

T. Rowe Price Funds SICAV Global Growth Equity FundAs of 30 June 2024

RISKS - The following risks are materially relevant to the fund (refer to prospectus for further details): Currency Currency exchange rate movements could reduce investment gains or increase investment losses. Emerging markets Emerging markets are less established than developed markets and therefore involve higher risks. Small and mid-cap - Smalland mid-size company stock prices can be more volatile than stock prices of larger companies. Style - Style risk may impact
performance as different investment styles go in and out of favor depending on market conditions and investor sentiment.
General fund risks - to be read in conjunction with the fund specific risks above. Equity - Equities can lose value rapidly
for a variety of reasons and can remain at low prices indefinitely. ESG and sustainability - ESG and Sustainability risk may
result in a material negative impact on the value of an investment and performance of the fund. Geographic concentration Geographic concentration risk may result in performance being more strongly affected by any social, political, economic,
environmental or market conditions affecting those countries or regions in which the fund's assets are concentrated.
Investment fund - Investing in funds involves certain risks an investor would not face if investing in markets directly.
Management - Management risk may result in potential conflicts of interest relating to the obligations of the investment
manager. Market - Market risk may subject the fund to experience losses caused by unexpected changes in a wide variety offactors. Operational - Operational risk may cause losses as a result of incidents caused by people, systems, and/or processes.

ADDITIONAL DISCLOSURES

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Source: MSCI. MSCI and its affiliates and third party sources and providers (collectively, “MSCI”) makes no express or
implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained
herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial
products. This report is not approved, reviewed, or produced by MSCI. Historical MSCI data and analysis should not be taken
as an indication or guarantee of any future performance analysis, forecast or prediction. None of the MSCI data is intended toconstitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may
not be relied on as such.
The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of
Morgan Stanley Capital International Inc, ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc.
("S&P") and is licensed for use by T. Rowe Price. Neither MSCI, S&P nor any third party involved in making or compiling the
GICS or any GICS classifications makes any express or impIied warranties or representations with respect to such standard
or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties
of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any or suchstandard or classification, Without limiting any or the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third
party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special,punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
Holdings-based analytics are calculated using T. Rowe Price's internal Investment Book of Records (IBOR). Due to timing
and accounting methodology differences, IBOR data may differ from the Accounting Book of Records (ABOR) data provided
by the Fund’s accountant.

T. Rowe Price Funds SICAV Global Growth Equity FundAs of 30 June 2024

IMPORTANT INFORMATIONThe Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital whichis registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective
investment in transferable securities (“UCITS”). Full details of the objectives, investment policies and risks are located in theprospectus which is available with the key investor information documents (KIID) and/or key information document (KID) in
English and in an official language of the jurisdictions in which the Funds are registered for public sale, together with thearticles of incorporation and the annual and semi-annual reports (together “Fund Documents”). Any decision to invest should
be made on the basis of the Fund Documents which are available free of charge from the local representative, local
information/paying agent or from authorised distributors. They can also be found along with a summary of investor rights in
English at www.troweprice.com. The Management Company reserves the right to terminate marketing arrangements.
This material is being furnished for general informational and/or marketing purposes only. The material does notconstitute or undertake to give advice of any nature, including fiduciary investment advice, nor is it intended to serve as theprimary basis for an investment decision. Prospective investors are recommended to seek independent legal, financial and tax
advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc.
and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliableindicator of future performance. The value of an investment and any income from it can go down as well as up. Investors
may get back less than the amount invested.
The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation tosell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not beenreviewed by any regulatory authority in any jurisdiction.
Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however,
we cannot guarantee the sources' accuracy or completeness. There is no guarantee that any forecasts made will come topass. The views contained herein are as of the date noted on the material and are subject to change without notice; theseviews may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should thematerial, in whole or in part, be copied or redistributed without consent from T. Rowe Price.
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The sub-funds of the T. Rowe Price Funds SICAV are not available to US persons, as defined under Rule 902(k) of the UnitedStates Securities Act of 1933, as amended (“Securities Act”). The shares of the funds have not been nor will they be registeredunder the Securities Act or under any state securities law. In addition the funds will not be registered under the United States
Investment Company Act of 1940 (the "1940 Act"), as amended and the investors will not be entitled to the benefits of the1940 Act. Provided to global firms in the US by T. Rowe Price Investment Services, Inc.
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