# EDGAR Filing Document

**Accession Number:** 0000216907
**File Stem:** 0000216907-25-000033
**Filing Date:** 2025-8
**Character Count:** 41235
**Document Hash:** 449cf3c6d1e0b7d4736d8eb791929b9a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000216907-25-000033.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0000216907-25-000033

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price New Era Fund, Inc.
- **CENTRAL INDEX KEY:** 0000216907

**ORGANIZATION NAME:**
- **EIN:** 520888855
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01710
- **FILM NUMBER:** 251256766

**BUSINESS ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRICE T ROWE NEW ERA FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRICE ROWE INFLATION FUND INC
- **DATE OF NAME CHANGE:** 19690617

## Series and Classes Contracts Data

### T. Rowe Price New Era Fund (Series ID: S000002105)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000005477 | T. Rowe Price New Era Fund         | PRNEX           |
| C000166331 | T. Rowe Price New Era Fund-I Class | TRNEX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** T. ROWE PRICE NEW ERA FUND, INC.

- **b. Investment Company Act file number:** 811-01710

- **c. CIK number of Registrant:** 0000216907

- **d. LEI of Registrant:** 549300H6MB24L14T9264

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1307 Point Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 410-345-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** T. Rowe Price New Era Fund

- **b. EDGAR series identifier (if any):** S000002105

- **c. LEI of Series:** 6ZJRIJXLC5ACIIFT0T13

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2391202918.67

**Total Liabilities:** $36732238.68

**Net Assets:** $2354470679.99

**Assets Attributable to Miscellaneous Securities:** $15867737.94

**Cash Not Reported:** $2657396.53

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005477 | -6.60%               | 3.68%                | 4.27%                |
| Class ID C000166331 | -6.55%               | 3.68%                | 4.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-12049013.79            | $-144072583.20                             |
| Month 2  | $5131339.93              | $63957061.96                               |
| Month 3  | $12340434.80             | $80073975.17                               |

### Schedule of Portfolio Investments

| Name                                  | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agnico Eagle Mines Ltd                | AGNICO EAGLE MINES LTD                             | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |    172020 | NS      | $20458338.60  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                       | ALAMOS GOLD INC                                    | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    533000 | NS      | $14156480.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                            | ALCOA CORP                                         | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    295970 | NS      | $8734074.70   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                           | AMEREN CORP                                        | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     97337 | NS      | $9348245.48   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                       | BAKER HUGHES CO                                    | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    549569 | NS      | $21070475.46  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                | BP PLC                                             | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |   3970650 | NS      | $19782958.94  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Cameco Corp                           | CAMECO CORP                                        | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    499884 | NS      | $37106389.32  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                    | EXPAND ENERGY CORP                                 | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    244171 | NS      | $28553356.74  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                          | CHEVRON CORP                                       | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    545417 | NS      | $78098260.23  | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                        | CONOCOPHILLIPS                                     | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    860643 | NS      | $77234102.82  | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp             | CONSTELLATION ENERGY CORP                          | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     22300 | NS      | $7197548.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd        | CANADIAN NATURAL RESOURCES LTD                     | CUSIP: 000000000<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |   1464066 | NS      | $46015806.72  | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Corteva Inc                           | CORTEVA INC                                        | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    246700 | NS      | $18386551.00  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| First Quantum Minerals Ltd            | FIRST QUANTUM MINERALS LTD                         | CUSIP: 000000000<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |    954200 | NS      | $16950319.81  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc                | DIAMONDBACK ENERGY INC                             | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |    186427 | NS      | $25615069.80  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc                 | DUPONT DE NEMOURS INC                              | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |    259700 | NS      | $17812823.00  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                     | EOG RESOURCES INC                                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    447811 | NS      | $53562673.71  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                              | EQT CORP                                           | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    566187 | NS      | $33020025.84  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                          | ENBRIDGE INC                                       | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |   1150492 | NS      | $52140297.44  | 2.21%             |  |  |  | No            |                  1 | On Loan: —       |
| West Fraser Timber Co Ltd             | WEST FRASER TIMBER CO LTD                          | CUSIP: 000000000<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |    231999 | NS      | $17012976.05  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                      | EXXON MOBIL CORP                                   | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    885276 | NS      | $95432752.80  | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowco Holdings Inc                   | FLOWCO HOLDINGS INC                                | CUSIP: 342909108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    146317 | NS      | $2605905.77   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc                  | FREEPORT-MCMORAN INC                               | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    753018 | NS      | $32643330.30  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                      | HF SINCLAIR CORP                                   | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |    391300 | NS      | $16074604.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Corp                             | HESS CORP                                          | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |    176014 | NS      | $24384979.56  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                | INTERNATIONAL PAPER CO                             | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    414089 | NS      | $19391787.87  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric Inc / US             | IVANHOE ELECTRIC INC / US                          | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1049581 | NS      | $9519699.67   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc                     | KINDER MORGAN INC                                  | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    500596 | NS      | $14717522.40  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp                      | KNIFE RIVER CORP                                   | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    134000 | NS      | $10939760.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Gas Services Inc               | KODIAK GAS SERVICES INC                            | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    286003 | NS      | $9801322.81   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| UPM-Kymmene Oyj                       | UPM-KYMMENE OYJ                                    | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |    445518 | NS      | $12166214.23  | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Stora Enso Oyj                        | STORA ENSO OYJ                                     | CUSIP: 000000000<br>LEI: 7437000ZP669LKUTZ738 | Long             | EC               | CORP              | FI        |   1426116 | NS      | $15504142.19  | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                               | BASF SE                                            | CUSIP: 000000000<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |    452091 | NS      | $22360204.94  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Heidelberg Materials AG               | HEIDELBERG MATERIALS AG                            | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |    112866 | NS      | $26579582.10  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Interpump Group SpA                   | INTERPUMP GROUP SPA                                | CUSIP: 000000000<br>LEI: 815600C79D0F31F4D395 | Long             | EC               | CORP              | IT        |    301603 | NS      | $12550408.72  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Louisiana-Pacific Corp                | LOUISIANA-PACIFIC CORP                             | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |    124500 | NS      | $10705755.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| thyssenkrupp AG                       | THYSSENKRUPP AG                                    | CUSIP: 000000000<br>LEI: 549300UDG16DOYUPR330 | Long             | EC               | CORP              | DE        |    805115 | NS      | $8677691.82   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp               | MARATHON PETROLEUM CORP                            | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |    312232 | NS      | $51864857.52  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                         | BHP GROUP LTD                                      | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |    660996 | NS      | $15901975.70  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy Inc                        | NRG ENERGY INC                                     | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     80000 | NS      | $12846400.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Kajima Corp                           | KAJIMA CORP                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    292500 | NS      | $7628901.57   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Kubota Corp                           | KUBOTA CORP                                        | CUSIP: 000000000<br>LEI: 549300CSY4INHEHQQT13 | Long             | EC               | CORP              | JP        |    969200 | NS      | $10929573.89  | 0.46%             |  |  |  | No            |                  2 | On Loan: —       |
| NextEra Energy Inc                    | NEXTERA ENERGY INC                                 | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    321179 | NS      | $22296246.18  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Sanso Holdings Corp            | NIPPON SANSO HOLDINGS CORP                         | CUSIP: 000000000<br>LEI: 353800F1K6653B4VPY57 | Long             | EC               | CORP              | JP        |    258100 | NS      | $9766893.53   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Shimizu Corp                          | SHIMIZU CORP                                       | CUSIP: 000000000<br>LEI: 353800BRAE0QFP3ZLY22 | Long             | EC               | CORP              | JP        |    462200 | NS      | $5162664.78   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK Inc                             | ONEOK INC                                          | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    425500 | NS      | $34733565.00  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                           | OVINTIV INC                                        | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |    498200 | NS      | $18956510.00  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc                    | PPG INDUSTRIES INC                                 | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     71600 | NS      | $8144500.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp of America             | PACKAGING CORP OF AMERICA                          | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |     95208 | NS      | $17941947.60  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                             | HOLCIM AG                                          | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |    235906 | NS      | $17518176.91  | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Permian Resources Corp                | PERMIAN RESOURCES CORP                             | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |   1223631 | NS      | $16665854.22  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                           | PHILLIPS 66                                        | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |    330365 | NS      | $39412544.50  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc                 | RPM INTERNATIONAL INC                              | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |    126357 | NS      | $13879052.88  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp                  | RANGE RESOURCES CORP                               | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    478252 | NS      | $19450508.84  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund              | CUSIP: 76105Y109<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |  11612616 | NS      | $11612615.76  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund - Collateral | CUSIP: 76105YYY8<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |  32992758 | NS      | $32992757.80  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                       | SCHLUMBERGER NV                                    | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |   1162165 | NS      | $39281177.00  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The               | SHERWIN-WILLIAMS CO/THE                            | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     98215 | NS      | $33723102.40  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                       | SOUTHERN CO/THE                                    | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    198502 | NS      | $18228438.66  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corp                  | SOUTHERN COPPER CORP                               | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |    106481 | NS      | $10772682.77  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                    | STEEL DYNAMICS INC                                 | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     58000 | NS      | $7424580.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp                  | TARGA RESOURCES CORP                               | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |    223349 | NS      | $38880593.92  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Teck Resources Ltd                    | TECK RESOURCES LTD                                 | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    265225 | NS      | $10709785.50  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                            | TENARIS SA                                         | CUSIP: 88031M109<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |    341502 | NS      | $12772174.80  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp                   | URANIUM ENERGY CORP                                | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |   2283700 | NS      | $15529160.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                    | VALERO ENERGY CORP                                 | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |    311296 | NS      | $41844408.32  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc                      | VIPER ENERGY INC                                   | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |    416203 | NS      | $15869820.39  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Vista Energy SAB de CV                | VISTA ENERGY SAB DE CV                             | CUSIP: 92837L109<br>LEI: 549300UDOHP7958KNS89 | Long             | EC               | CORP              | MX        |    199300 | NS      | $9528533.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Warrior Met Coal Inc                  | WARRIOR MET COAL INC                               | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |    284400 | NS      | $13034052.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                  | WILLIAMS COS INC/THE                               | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |   1105400 | NS      | $69430174.00  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                      | TOTALENERGIES SE                                   | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |   1066548 | NS      | $65190250.85  | 2.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Galp Energia SGPS SA                  | GALP ENERGIA SGPS SA                               | CUSIP: 000000000<br>LEI: 2138003319Y7NM75FG53 | Long             | EC               | CORP              | PT        |   1432521 | NS      | $26223510.31  | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                            | SYMRISE AG                                         | CUSIP: 000000000<br>LEI: 529900D82I6R9601CF26 | Long             | EC               | CORP              | DE        |    132623 | NS      | $13907429.30  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                        | AIR LIQUIDE SA                                     | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |    204920 | NS      | $42254736.08  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Franco-Nevada Corp                    | FRANCO-NEVADA CORP                                 | CUSIP: 000000000<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |    139845 | NS      | $22959534.90  | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc                     | SUNCOR ENERGY INC                                  | CUSIP: 000000000<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |   1036122 | NS      | $38812251.31  | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Tourmaline Oil Corp                   | TOURMALINE OIL CORP                                | CUSIP: 000000000<br>LEI: 894500I7AXG91VB3PM28 | Long             | EC               | CORP              | CA        |    388900 | NS      | $18763157.70  | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                          | GLENCORE PLC                                       | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   4475392 | NS      | $17439003.09  | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| KION Group AG                         | KION GROUP AG                                      | CUSIP: 000000000<br>LEI: 5299005KY91C4C6U9H17 | Long             | EC               | CORP              | DE        |    324036 | NS      | $18099926.44  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Expro Group Holdings NV               | EXPRO GROUP HOLDINGS NV                            | CUSIP: 000000000<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |   1079078 | NS      | $9269280.02   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Mines Ltd                     | IVANHOE MINES LTD                                  | CUSIP: 000000000<br>LEI: 5299006XZISURYIA4G32 | Long             | EC               | CORP              | CA        |    954934 | NS      | $7173838.68   | 0.30%             |  |  |  | No            |                  2 | On Loan: —       |
| TechnipFMC PLC                        | TECHNIPFMC PLC                                     | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    792069 | NS      | $27278856.36  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Akzo Nobel NV                         | AKZO NOBEL NV                                      | CUSIP: 000000000<br>LEI: 724500XYIJUGXAA5QD70 | Long             | EC               | CORP              | NL        |    197174 | NS      | $13834451.41  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Artemis Gold Inc                      | ARTEMIS GOLD INC                                   | CUSIP: 04302L100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    673600 | NS      | $12252668.99  | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Champion Iron Ltd                     | CHAMPION IRON LTD                                  | CUSIP: 000000000<br>LEI: 894500WQI96G4T75O202 | Long             | EC               | CORP              | AU        |   3420911 | NS      | $9424877.03   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Weatherford International PLC         | WEATHERFORD INTERNATIONAL PLC                      | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |    284800 | NS      | $14328288.00  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Skeena Resources Ltd                  | SKEENA RESOURCES LTD                               | CUSIP: 000000000<br>LEI: 549300DCWSQFVVZ21289 | Long             | EC               | CORP              | CA        |    643300 | NS      | $10232331.93  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodside Energy Group Ltd             | WOODSIDE ENERGY GROUP LTD                          | CUSIP: 000000000<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |   1454471 | NS      | $22467083.24  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| South Bow Corp                        | SOUTH BOW CORP                                     | CUSIP: 000000000<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |    622500 | NS      | $16159629.15  | 0.69%             |  |  |  | No            |                  2 | On Loan: —       |
| Advantage Energy Ltd                  | ADVANTAGE ENERGY LTD                               | CUSIP: 000000000<br>LEI: 549300WK5YRPOB2DTT64 | Long             | EC               | CORP              | CA        |     94982 | NS      | $825141.96    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Linde PLC                             | LINDE PLC                                          | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |    147093 | NS      | $69013093.74  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                             | SHELL PLC                                          | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |   3008267 | NS      | $104957091.39 | 4.46%             |  |  |  | No            |                  2 | On Loan: No      |
| OR Royalties Inc                      | OR ROYALTIES INC                                   | CUSIP: 000000000<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |    724300 | NS      | $18616118.96  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Syensqo SA                            | SYENSQO SA                                         | CUSIP: 000000000<br>LEI: 549300060XNJ90PLNS10 | Long             | EC               | CORP              | BE        |    119205 | NS      | $9234136.13   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglo American PLC                    | ANGLO AMERICAN PLC                                 | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |    264594 | NS      | $7799674.82   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Amrize Ltd                            | AMRIZE LTD                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |    235906 | NS      | $11767798.20  | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| SPIE SA                               | SPIE SA                                            | CUSIP: 000000000<br>LEI: 969500TJNS5GSFWJ8X85 | Long             | EC               | CORP              | FR        |    180479 | NS      | $10148427.86  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | KOBOLD METALS SER B-PRIME CVT PFD STOCK            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     52878 | NS      | $4492128.87   | 0.19%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | JETTI HOLDINGS SER D CVT PFD STOCK PP              | CUSIP: TC268FIM0<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     86580 | NS      | $11505789.36  | 0.49%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | ENERGY RESERVOIR HLDG LLC TAX BLOCKER PP           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  10108939 | NS      | $5458827.06   | 0.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | JETTI HOLDINGS SER C CVT PFD STOCK PP              | CUSIP: TC2S64YY5<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     83662 | NS      | $8894107.22   | 0.38%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | ENERGY RESERVOIR 2022 CL A-3 PREFEQ PP             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    234367 | NS      | $267178.38    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FARMERS BUSINESS NETWORK INC          | FARMERS BUSINESS NETWORK INC CVT SR D PP           | CUSIP: 000000000<br>LEI: 5493003KO0NA75DM0Y81 | Long             | EP               | CORP              | US        |    165071 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | TONIAN HOLDINGS NON-VOTING CVT PFD                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1796201 | NS      | $2335061.30   | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | TONIAN HOLDINGS VOTING CVT PFD UNITS               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2526018 | NS      | $3283823.40   | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Lilac Solutions Inc                   | LILAC SOLUTIONS SERIES B CVT PFD STOCK P           | CUSIP: TC6T8T2V3<br>LEI: 2549003PYCNMV1SNZ851 | Long             | EP               | CORP              | US        |    601655 | NS      | $5589374.95   | 0.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FARMERS BUSINESS NETWORK INC          | Farmers Business Network Inc PP                    | CUSIP: TC7HUI213<br>LEI: 5493003KO0NA75DM0Y81 | Long             | EC               | CORP              | US        |    450821 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | FORM ENERGY SER F CVT PFD PP                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    251671 | NS      | $6086386.30   | 0.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                   | KOBOLD METALS SER B-1 CVT PFD STOCK PP             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    280805 | NS      | $23855142.92  | 1.01%             |  |  |  | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-04

**Name of Applicant:** T. ROWE PRICE NEW ERA FUND, INC.

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President