# EDGAR Filing Document

**Accession Number:** 0001116626
**File Stem:** 0001193125-23-044928
**Filing Date:** 2023-2
**Character Count:** 230305
**Document Hash:** a863e259fb5d15a7b708037332822384
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-044928.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001193125-23-044928

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230222

**DATE AS OF CHANGE**: 20230222

**EFFECTIVENESS DATE**: 20230222

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Global Technology Fund, Inc.
- **CENTRAL INDEX KEY:** 0001116626
- **IRS NUMBER:** 522024849
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09995
- **FILM NUMBER:** 23654280

**BUSINESS ADDRESS:**
- **STREET 1:** 100 EAST PRATT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 100 EAST PRATT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** T ROWE PRICE GLOBAL TECHNOLOGY FUND INC
- **DATE OF NAME CHANGE:** 20000614

## Series and Classes Contracts Data

### T. Rowe Price Global Technology Fund, Inc. (Series ID: S000002085)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000005451 | T. Rowe Price Global Technology Fund, Inc.   | PRGTX           |
| C000177214 | T. Rowe Price Global Technology Fund-I Class | PGTIX           |

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

# FORM N-CSR

# CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-09995

T. Rowe Price Global Technology Fund, Inc.

(Exact name of registrant as specified in charter)

100 East Pratt Street, Baltimore, MD 21202

(Address of principal executive offices)

David Oestreicher

100 East Pratt Street, Baltimore, MD 21202

(Name and address of agent for service)

Registrant's telephone number, including area code: (410) 345-2000

Date of fiscal year end: December 31

Date of reporting period: December 31, 2022

# ---**Item 1. Reports to Shareholders**

# **(a) Report pursuant to Rule 30e-1**

T.RowePrice®

# **ANNUAL REPORT**

December 31, 2022

| PRGTX | T. ROWE PRICE Global Technology Fund |
| --- | --- |
| PGTIX | Global Technology Fund- I Class |

INVEST WITH CONFIDENCE®

- The Global Technology Fund underperformed the MSCI All Country World Index Information Technology Net and its peer group, as proxied by the Lipper Global Science/Technology Funds Index.

- Stock selection in software and internet accounted for the largest portion of the portfolio's underperformance. Alternatively, an underweight position in semiconductors contributed to relative returns.

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T. ROWE PRICE GLOBAL TECHNOLOGY FUND

Market Commentary

# **HIGHLIGHTS**

We reduced our positioning in software during the period, although it remains the largest absolute position in the portfolio. We continue to maintain a bias toward companies that are believe possess positive results and biosynthetic stories that we believe can help offset the cyclical headwinds. We are focused on finding companies that sell linchpin technology and are innovating in secular growth markets that also show

Log in to your account at troweprice.com for more information.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

## Dear Shareholder

Improving bond prices and shareholding has transformed growth stocks by a market with the Bloomberg 2.0. Aggregate Bond Index delivering its worst considerable margin as equity investors turned risk averse and as rising rates year on record. (Bond prices and yields move in opposite directions.) But put downward pressure on growth stock valuations. Emerging markets stocks generally prefer performance and are the expected backlog. However, the U.S. Although more facturing gauges have drifted toward contraction levels, the U.S. is the only market for the investment. International and household balance sheets appeared strong. Meanwhile, the housing market has weakened amid rising

1

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

Management's Discussion of Fund Performance

sharp increase in yields led to historically weak results across the fixed income
with the SAP 500 Index, energy was a rare bright spot, gaining more than

60% as oil prices jumped in response to Russia's invasion of Ukraine and
the past year has taken a living time for the world as few sectors remained
concerns over commodity supply shortages. Defensive shares, such as utilities,
untouched by the broad headwinds that markets faced, and volatility may
consumer staples, and health care, held up relatively well and finished the
continue in the near term as central banks tighten policy amid slowing
over the monthly flat returns. Conversely, communication services, consumer
investment. However, in our view, there continue to be opportunities for
discretionary, and information technology shares suffered the largest declines.
However, in our view, there continue to be opportunities for
selective investors focused on fundamentals. Valuation in most global equity
investments is a key element of the T. Rowe Price
investment professionals, go to

troweprice.com.

| FUND PERFORMANCE - COMMISSION |  |  |
| --- | --- | --- |
|  | Total Return |  |
| Periods Ended 12/31/22 | 6 Months | 12 Months |
| Global Technology Fund | -11.38% | -55.52% |
| Global Technology Fund- |  |  |
| I Class | -11.35 | -55.47 |

2

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **INVESTMENT OBJECTIVE**

The Global Technology Fund returned -55.52% in the 12 months ended
January 2022. The Global Technology Fund's 2022 Annual Report was reported to be
December 31, 2022. The Global Technology Fund's 2022 Annual Report was reported to be
December 31, 2022. The Global Technology Fund's 2022 Annual Report was reported to be
December 31, 2022. The Global Technology Fund's 2022 Annual Report was reported to be
December 31, 2022. The Global Technology Fund's 2022 Annual Report was reported to be
December 31, 2022. The Global Technology Fund's

What factors influenced the fund's performance?
What factors influenced the fund's performance?

about the new merchant addition growth rate and the currency and inflationary

| MSCI All Country World Index Information |  |  |
| --- | --- | --- |
| Technology Net | -1.92 | -31.07 |
| Lipper Global Science/ Technology Funds Index | -5.22 | -42.51 |

3

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

We believe in the company's idiosyncratic growth driver and its ongoing cloud officials on how high rates would have to go. The fact which is only one of the most important companies is that the company's investments by a 2021, with the last year's 2022, with only 1 month to 1 year. The company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share

4

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

to China, though we believe the impact will be minimal on the company. In economy, investors also turned jittery after Sea started being moved. How is the fund positioned from 1.52% at the start of the period to 3.88% at the end of the year. Significant inversions in the yield curve, which are often associated with the market. The market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been a strong, but the market has been

5

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

where we have greater visibility on order books. We initiated a position in
prisoners, which covers our field, and the following of the property, which
attracts entry position. We believe Cairns is a well-managed company, whose
interests are being used to create a new business, which is not only one of the
interests to better obtain and protect such a new firm, which is not only one of the
interests to be used to create a new business, which is not only one of the
interests to be used to create a new business, which is not only one of the
interests to be used to create a new business, which is not only one of the
interests to be used to create a new business, which is not only one of the
interests to be used to create a new business, which is not only one of the
interests to be used to create a new business, which

![img-0.jpeg](img-0.jpeg)

6

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

Finally, we trimmed our holding in industrials. We eliminated our position

reflect our preference for companies most levered to the offline to online share
this is a result of our performance in the world. We are not only a result
that in retail spend and on-premises to public cloud migration. We eliminated
our position in the world's largest online marketplace for creative goods
and services. We have been a result of our performance in the world's largest online marketplace for creative goods
and services. We have been a result of our performance in the world's largest online marketplace for creative goods
and services. We have been a result of our performance in the world's largest online marketplace for creative goods
and services. We have been a result of our performance in the world's largest online marketplace for creative goods
and services. We have been a result of our performance in the world's largest online marketplace for
creative goods and services. We have been a result of our performance in the world's largest online marketplace for
creative goods and services. We have been a result of our performance in the world's largest online marketplace for
creative goods and services. We have been a result of our performance in the world's largest online marketplace for
creative goods and services. We have been a result of our performance in the world's largest online marketplace for
creative goods and services. We have been a result of our performance in the world's largest online marketplace for

■ Software 600

7

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# RISKS OF INVESTING IN THE FUND

# TWENTY-FIVE LARGEST HOLDINGS

Percent of
Net Assets
12/31/22

8

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

Taiwan Semiconductor Manufacturing 6.8%
ServiceNow potential to make gains in artificial intelligence. on finding companies that
ASML H. Merchant shows the value of a hypothetical $10,000 unit (including the following 6%
Michison and past 20 fiscal year periods or since inception (for funds seeking longer periods).
NVIDIA NUCLEAR CORPORATION
NVIDIA NUCLEAR CORPORATION
Atlassian NUCLEAR CORPORATION
HubSpot NUCLEAR CORPORATION
Monoclonal NUCLEAR CORPORATION
The NUCLEAR CORPORATION is a non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural, non-structural

![img-1.jpeg](img-1.jpeg)

As of 12/31/22

| Global Technology Fund | $34,368 |
| --- | --- |
| MSCI All Country World Index Information Technology Net | 42,310 |
| Lipper Global Science/Technology Funds Index | 38,574 |

9

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# GROWTH OF $10,000

Amazon.com

4.4

| Periods | Ended 12/31/22 | 1 Year | 5 Years | 10 Years | Since Inception | Inception Date |
| --- | --- | --- | --- | --- | --- | --- |
| Global Technology Fund |  | -55.52% | 0.86% | 13.14% | - | - |
| Global Technology Fund- |  |  |  |  |  |  |
| I Class |  | -55.47 | 0.97 | - | 6.99% | 11/29/16 |

S

10

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# AVERAGE ANNUAL COMPOUND TOTAL RETURN

| Symptoms | Not all portions but the model and information through a set of sub-sets representing | 2.0 |
| --- | --- | --- |
| C | The fund's performance information represents only past performance and is not necessarily |  |
| L |  |  |
| B | Global Technology Fund | 0.86% |
| F | Global Technology Fund-I Class | 0.75 |
| The views change to a forecast | The expense ratio shown is as of the fund's most recent prospectus. This number may vary from the expense ratio shown elsewhere in this report because it is based on a different time |  |

11

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **EXPENSE RATIO**

Services that have earned at a constant rate Average annual total return figures include a 5% interest rate, a 10% interest rate, a 15% interest rate, a 20% interest rate, a 25% interest rate, a 30% interest rate, a 35% interest rate, a 40% interest rate, a 45% interest rate, a 50% interest rate, a 55% interest rate, a 60% interest rate, a 65% interest rate, a 70% interest rate, a 75% interest rate, a 80% interest rate, a 85% interest rate, a 90% interest rate, a 95% interest rate, a 100% interest rate. The following is a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a 100% interest rate, a

# **FUND**

![img-2.jpeg](img-2.jpeg)

12

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **FUND EXPENSE EXAMPLE (CONTINUED)**

when you are estimating the ongoing expenses of investing in the fund and when comparing the underlying costs (in dollars) of investing in the fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested in the beginning of the most recent period, and the cost of the funds for the entire period.

# **Investor Class**

The table is useful in comparing ongoing costs only and will be used to determine the total cost of owning the future funds. The extent of funding is based on the total cost of owning the future funds. The cost of the funds for the future funds is based on the total cost of owning the future funds.

# **NET ASSET VALUE**

| Beginning of period | $23.31 | $27.32 | $16.35 | $12.20 | $16.83 |
| --- | --- | --- | --- | --- | --- |

# **Investment activities**

| Net investment income (loss) (1)(2) | (0.10) | (0.22) | (0.13) | (0.06) | - (1) |
| --- | --- | --- | --- | --- | --- |

13

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

GRAND TOTAL - INCOME STATES - separately in the table.

| Actual Expenses | For a share outstanding throughout each period |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| The first line of the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. You may use the information on the line, together with the following table (Actual) provides information about actual account values and expenses based on the fund's actual returns. NET ASSET VALUE Net reserves paid $(0.33) $(0.46) $(1.36) $(0.01) $(2.01) beginning of period $23.35 $27.36 $16.37 $22.10 $20.84 NET ASSET VALUE Investment expenses End of period $10.05 $23.31 $27.32 $16.35 $12.20 Net investment income (loss) (0.00) (0.07) (0.19) (0.10) (0.04) 0.03 |  |  |  |  |  |
| NET ASSET VALUE |  |  |  |  |  |
| Net reserves paid | $(0.33) | $(0.46) | $(1.36) | $(0.01) | $(2.01) |
| beginning of period | $23.35 | $27.36 | $16.37 | $22.10 | $20.84 |
| NET ASSET VALUE |  |  |  |  |  |
| Investment expenses |  |  |  |  |  |
| End of period | $10.05 | $23.31 | $27.32 | $16.35 | $12.20 |
| Net investment income (loss) (0.00) | (0.07) | (0.19) | (0.10) | (0.04) | 0.03 |

14

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

December 31, 2022

# FINANCIAL HYPOTHETICALS

**Hypothetical Example for Comparison Purposes** 1,020.47 Shares Value
The information on the second line of the table (Hypothetical) is based on hypothetical account
(Cost and value in $000s) ratio and an assumed 5% per year
**COMMON STOCKS** 94.7% 1,000.00
Net realized and unrealized gains
1.5% of possible of the fund with other funds by contrasting this 5% hypothetical example
Hypothetical assumes 5%
FINANCIAL EXPENSES 4.7% 12.87 2.87 12.50 4.22 11.63
Total capitalized expenses 12.87 2.87 12.50 4.22 11.63
Other financial services 12.87 2.87 12.50 4.22 11.63
Other financial services 12.87 2.87 12.50 4.22 11.63

| Disputations | Class A (1) | 7,619,088 | 21,005 |
| --- | --- | --- | --- |
| Total return on | (55.52)% | 10.05% | 75.63% |
| Net investment income |  |  | 34.12% |
| Net realized gain | (0.33) | (6.52) | (1.38) |
| Ratio to average net assets: (2) | (0.33) | (6.52) | (1.38) |
| Total distributions | (0.33) | (6.52) | (1.38) |
| Gross expenses before waivers/ |  |  | (0.01) |

15

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

| Description of Investment |  | Note: Annualized expense ratio for the 6-month period, |  |
| --- | --- | --- | --- |
| Payments |  | Shares | Value |
| multiplied by the average account value over the period, multiplied by the number of days |  |  |  |
| in the most recent fiscal half year (184), and divided by the days in the year (365) to reflect |  |  |  |
| (Cost and per-half year period. The annualized expense ratio of the Investor Class was 0.94%, and |  |  |  |
| Adyen (EUR) (1) |  | 55,014 | 76,373 |
| 1.5% (Total 5/18/21) 0.95% 0.86% 0.86% 0.86% 0.86% |  | 145,398 | 0.9190 |
| NET ASSET VALUE |  |  |  |
| Net Investment (1/24/20) $1,202,211 Cost 585,406 (1) 27.39 3,487,683 $1,236,625 |  |  |  |
| ($/t) 0.95% 0.86% 0.86% 58,998 |  |  |  |
| Net Investment Income (loss) (0.69)% (0.73)% (0.61)% 1,110,327 |  |  |  |
| Debt/Bank Class A (1) |  |  |  |
| Total Financial Services |  |  |  |
| Weighted Debt/Discount, Acquisition Date: 8/7/20, |  |  |  |
| Ratio/Supplemental Data 44.7% 81.0% 82.8% 95.0% 288.7% |  |  |  |
| Net assets, end of period (in |  |  |  |
| Total return (55.67)% 197,456 75,2585 38,2916 (5.37)% |  |  |  |

16

T. ROWE PRICE GLOBAL TECHNOLOGY FUND[{"box_2d": [32, 87, 618, 232], "label": "table", "caption": "

| RAIDWARE 0.0% | 76,623 | 3,715 |
| --- | --- | --- |
| Maplebear DBA instacart Acquisition Date: 8/7/20, Cost $186 (1) | Shares | $ Value |
| Consumer Electronics 2.6% | 4,003 | 194 |
| (2008 and value in $000s) | 569,657 | 74,016 |
| Apple |  | 90,508 |
| Recoveries 5.7% |  |  |
| Recoveries 5.7% |  |  |
| Recoveries 5.7% |  |  |
| Recoveries 5.7% |  |  |
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| --- | --- | --- | --- |
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| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |

| Recoveries 5.7% |  |  |  |
| --- | --- | --- | --- |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Recoveries 5.7% |  |  |  |
| Maplebear DBA (notacart) Acquisition Date: 8/7/20, Cost $1 (1) | Shares | $ Value |  |
| Consumer Electronics 2.6% |  |  |  |
| (1) 2008 and value in $000s) | 194 |  |  |
| (1) 2008 and value in $000s) | 194 |  |  |
| (1) 2008 and value in $000s) | 194 |  |  |
| (1) 2008 and value in $000s) | 194 |  |  |

| (1) 2008 and value in $000s) | 194 |  |  |
| --- | --- | --- | --- |

| (1) 2008 and value in $000s) | 194 |  |  |
| --- | --- | --- | --- |

| (1) 2008 and value in $000s) | 194 |  |  |
| --- | --- | --- | --- |

| (1) 2008 and value in $000s) | 194 |  |  |
| --- | --- | --- | --- |

| (1) 2008 and value in $000s) | 194 |  |  |
| --- | --- | --- | --- |

| (1) 2008 and value in $000s) | 194 |  |  |
| --- | --- | --- | --- |

| (1) 2008 and value in $000s) | 194 |  |  |
| --- | --- | --- | --- |

<table><tr><td>(1) 2008 and value in $000s)</td><td>194</

T. ROWE PRICE GLOBAL TECHNOLOGY FUND[{"box_2d": [31, 84, 617, 215], "label": "table", "caption": "

| Amadeus (IP) Group (EUR) (1) | $39,600 | $0.048 |
| --- | --- | --- |
| ASML Holding (EUR) | 344,675 | 189,101 |
| Total IT Services | Shares | Revenue |
| Total IT Services | 125,601 | 52,790 |
| Total IT Services |  | 126,924 |
| Total IT Services |  | 240,891 |
| Total IT Services |  | $381 |
| Total IT Services |  | 630,985 |
| Total IT Services |  | 130,581 |
| Total IT Services |  |  |
| Total IT Services |  |  |
| Total IT Services |  |  |
| Total IT Services |  |  |
| Total IT Services |  |  |
| Total IT Services |  |  |
| Total IT Services |  |  |
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| Total IT Services |  |  |
| Total IT Services |  |  |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
| --- | --- | --- |

| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
| --- | --- | --- |

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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
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| Total IT Services |  |  |
| --- | --- | --- |

<table><tr><td>Total IT Services</td><td></td><td></td></tr></tabletable

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

| Total STOCKS 0.6% |  | 1,297,641 |
| --- | --- | --- |
| Video Camera 2.2% | 158,669 | 3,000 |
| Audio/Video 2.2% | Shares | 2,710,000 Value |
| Audio/Video 2.2% | 101,282 | 39,421 |
| CDS/Camera 2.2% | 158,669 | 15,000 |
| CDS/Camera 2.2% | 2,848,429 | 100,000 |
| CDS/Camera 2.2% |  | 121,204 |
| CDS/Camera 2.2% | 488,776 | 189,351 |
| CDS/Camera 2.2% | 475,114 | 14,000 |
| CDS/Camera 2.2% | 875,344 | 160,000 |

19

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

| Total Media & Entertainment | 802,194 | 12,086 |
| --- | --- | --- |
| Program Software 0.7% |  | 45,380 |
| Software 1.0% |  |  |
| Base of World Internet Retail 1.1% | 5,889,083 | 5 Value |
| Base Office Applications Software 0.1% | 175,283 | 55,988 |
| Data 1.0% | 25,274 | 25,274 |
| Data 1.0% | 204,816 | 4,000 |
| Data 1.0% |  | 150,000 |
| Data 1.0% |  | 3,657 |
| Data 1.0% |  | 3,031 |
| Data 1.0% |  |  |
| Data 1.0% |  |  |
| Data 1.0% |  |  |
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</table>

20

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

| Industry Specific Software 2.3% |  |  |
| --- | --- | --- |
| Total Investment in Securities | 34,892 | 2,102 |
| Comprehensive Investment Advertising | 13,169,800 | 148,917 |
| Total Investment in Securities |  |  |
| Manufacturing (TWD) |  |  |
| Total Investment in Securities | 181,688 | 36,377 |
| Industry Specific Software 0.4% |  |  |
| Equity |  | 54,399 |
| Equity | 326,605 | 14,336 |
| Equity | 48,666 | 3,057 |
| The fund may invest in certain securities that are considered affiliated companies. As defined in the Company's Report, the Company's share of the fund is 0.4% |  |  |
| Total net an affiliated company is one of which the fund owns 5% or more of the outstanding voting |  |  |
| Datacross, Class A, Acquisition Date: 7/24/20 - 8/28/20, |  |  |

21

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

December 31, 2022

| Cost of securities | 1,244 |
| --- | --- |
| Foreign currency (cost $5) | 5 |
| Other assets | 297 |
| Total assets | 2,887,359 |

22

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

| STATEMENT OF ASSETS AND LIABILITIES |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| Total Assets and Liabilities |  |  |  |  |  |
| Subtotal |  |  |  |  | 11,193 |
| Subtotal |  |  |  |  | 1,315 |
| Infrastructure and Developer Tool Software |  | 0.6% |  | 27,125 |  |
| (5) Affiliated Companies |  | Value | Purchase | Sales | Value |
| Total |  |  |  | 2,784 | 11,997 |
| ADK American Depositary Companies |  |  |  | Cost | 12/31/22 |
| Funds in Funds of Acquisition Date: 8/31/21, Cost $12,844 (1) |  |  |  |  | 50,237 |
| Funds in Funds of Acquisition |  |  |  |  | 1,000 |
| (2)(3) Cash |  |  |  |  |  |
| Funds in Funds of Acquisition |  |  |  | 174,786 | $10,487 |
| Funds in Funds of Acquisition |  |  |  |  | 13,000 |
| Funds in Funds of Acquisition |  |  |  |  |  |
| Total |  |  |  |  | 12/31/22 |
| (2)(3) |  |  |  |  |  |
| Funds in Funds of Acquisition |  |  |  | 1,000,132 | 4,502 |
| Funds in Funds of Acquisition |  |  |  |  |  |
| Total |  |  |  |  | $0 of the net realized gain |
| Total |  |  |  |  | 327 |
| Days and (out of foreign taxes of $1,428) |  |  |  |  | $8,263 2 |
| Other liabilities |  |  |  |  | 3,454 |
| Other liabilities |  |  |  |  | 16,296 |
| Total |  |  |  |  |  |
| Total |  |  |  |  | 11,719 |
| Total income |  |  |  |  |  |

The accompanying notes are an integral part of these financial statements.

23

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

| STATEMENT | 100 ASSETS | 1,681 |
| --- | --- | --- |
| Investments in the Company |  |  |
| Investments in the Company |  |  |
| Purchase and sale information not shown for cash management funds. |  | 16,927 |
| Total |  | 45,074 |

**Total Convertible Preferred Stocks (Cost $166,553)**
**NET ASSETS**

|  | 138,478 |
| --- | --- |
|  | $2,871,153 |
|  | 32,763 |
|  | 12,731,722 |

**Net Asset Disbursed**

| Net Asset Disbursed | Gain / Loss |  |
| --- | --- | --- |
| Net Assigned Cash Earnings (loss) | $5,797 | $(2,238,489) |
| Paid Capital applicable to 285,435,099 shares of $0.0001 | 516 | 6,313 |
| par Value of Shareholder reports |  | (1,762,342) |
| Foreign Currency transactions |  | (42) |
| authorized |  |  |
| Net realized loss | 159 | 5,100,242 |
| Total | 27 | (1,762,342) |
|  |  | 156 |

24

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# STATEMENT OF OPERATIONS

($000s)

| NET ASSETS | Year Ended | $2,871,153 |
| --- | --- | --- |
| Registration | 12/31/22 | 250 |
| Net Assets (Increase) in Net Assets |  | 12/31/21 |
| Disbursements and liabilities denominated in foreign currencies |  | (2,768,563) |
| Operating |  | (22) |
| Interest on net unrealized gain / loss |  | (2,768,563) |
| Net interest on net unrealized gain / loss | $(29,915) | $(2,768,563) |
| (31,000,000,000 shares outstanding) | (1,762,384) | $(4,560,862) |
| Interest on net unrealized gain / loss |  | 1,868,000 |
| Interest on net unrealized gain / loss | (2,768,563) | (1,041,574) |
| (31,000,000,000 shares outstanding) | (4,560,862) | $(4,560,862) |

The accompanying notes are an integral part of these financial statements.

25

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# STATEMENT OF CHANGES IN NET ASSETS

($000s)

| Distributions to shareholders | Year Ended |  |
| --- | --- | --- |
|  | 12/31/22 | 12/31/21 |
| Net Assets Class | (59,199) | (1,642,793) |
| Increase/(decrease) during period | (5,850,769) | (3,008,792) |
| Decrease of net assets from distributions | (8,921,789) | (1,923,257) |
| End of period | $2,871,153 | $8,821,439 |

Capital share transactions *

*Share information (000s)

26

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# PROVISIONS OF GUARANTEE IN THE ACTIVE FINANCIAL STATEMENTS.

($000s)

Shares sold
Investor Class 570,535 1,813,410
Investment Company Act of 1940 (the 1940 Act) as a nondiscretion, open-ended 570,435
Investment investment company. The fund seeks to provide long-term capital growth.
Distributions reinvested
The investor class of shares: the Global Technology Fund Investor Class 570,535 1,813,410
and the Global Technology Fund-I Class (I Class). I Class shares require a $500,000
Shares retirement
Shares in the minimum, although the minimum generally is waived or reduced
Investor Class 570,535 (2,140,791)
for financial intermediaries, eligible retirement plans, and the other accountants
Class 570,535 (2,140,791)
Prior to November 15, 2021, the initial investment minimum was $1 million and was

The accompanying notes are an integral part of these financial statements.

27

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **NOTICE TO FINANCIAL STATEMENTS**

T. Rowe Price Global Technology Fund, Inc. (the fund) is registered under the increase (decrease) in net assets from capital share. The fund is a financial instrument, which is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and is a key, and

28

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

from litigation payments, if any, are included in either net realized gain (loss) or change exchange rate, using the mean of the bid and asked prices of such currencies against U.S. dollars as provided by an outside pricing service. Purchases and sales of securities, which are not included in U.S. dollars at the prevailing exchange rate on the respective date of such transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is not bifurcated

from the parties attributable to changes in market prices.

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - VALUATION
Basis of Preparation The fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting

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T. ROWE PRICE GLOBAL TECHNOLOGY FUND

**Indemnification** In the normal course of business, the fund may provide

**Fair Value** The fund's financial instruments are valued at the close of the NYSE and are incurred by each class are charged directly to the class to which they relate. Expenses are charged at fair value, which can be paid at the place that would be received by the company's business. Investment income and realized and unrealized gains and losses are charged at fair value. The company's business is not only a result of the company's business. The company's business is not only a result of the company's business.

**Capital Processors** The company's business is not only a result of the company's business.

**Capital Processors** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

**Valuation Techniques** The company's business is not only a result of the company's business.

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T. ROWE PRICE GLOBAL TECHNOLOGY FUND

observable inputs and minimize the use of unobservable inputs. When multiple inputs have been used, the results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available. The results of the analysis are not available.

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T. ROWE PRICE GLOBAL TECHNOLOGY FUND

by type of investment and may include market or investment specific considerations.

<table><thead><tr><th rowspan="2">Level 1 - quoted prices (unadjusted)</th><th colspan="3">Beginning Gain (Loss)</th><th rowspan="2">Ending Balance</th></tr><tr><th>Balance</th><th>During</th><th>Total</th></tr></thead><tr><td>1. The fund can access the following: (1) the fund can access the following: (2) the fund can access the following: (3) the fund can access the following: (4) the fund can access the following: (5) the fund can access the following: (6) the fund can access the following: (7) the fund can access the following: (8) the fund can access the following: (9) the fund can access the following: (10) the fund can access the following: (11) the fund can access the following: (12) the fund can access the following: (13) the fund can access the following: (14) the fund can access the following: (15) the fund can access the following: (16) the fund can access the following: (17) the fund can access the following: (18) the fund can access the following: (19) the fund can access the following: (20) the fund can access the following: (21) the fund can access the following: (22) the fund can access the following: (23) the fund can access the following: (24) the fund can access the following: (25) the fund 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can access the following: (51) the fund can access the following: (52) the fund can access the following: (53) the fund can access the following: (54) the fund can access the following: (55) the fund can access the following: (56) the fund can access the following: (57) the fund can access the following: (58) the fund can access the following: (59) the fund can access the following: (60) the fund can access the following: (61) the fund can access the following: (62) the fund can access the following: (63) the fund can access the following: (64) the fund can access the following: (65) the fund can access the following: (66) the fund can access the following: (67) the fund can access the following: (68) the fund can access the following: (69) the fund can access the following: (70) the fund can access the following: (71) the fund can access the following: (72) the fund can access the following: (73) the fund can access the following: (74) the fund can access the following: (75) the fund can access the following: (76) the fund can access the following: (77) the fund can access the following: (78) the fund can access the following: (79) the fund can access the following: (80) the fund can access the following: (81) the fund can access the following: (82) the fund can access the following: (83) the fund can access the following: (84) the fund can access the following: (85) the fund can access the following: (86) the fund can access the following: (87) the fund can access the following: (88) the fund can access the following: (89) the fund can access the following: (90) the fund can access the following: (91) the fund can access the following: (92) the fund can access the following: (93) the fund can access the following: (94) the fund can access the following: (95) the fund can access the following: (96) the fund can access the following: (97) the fund can access the following: (98) the fund can access the following: (99) the fund can access the following: (100) the fund can access the following: (101) the fund can access the following: (102) the fund can access the following: (103) the fund can access the following: (104) the fund can access the following: (105) the fund can access the following: (106) the fund can access the following: (107) the fund can access the following: (108) the fund can access the following: (109) the fund can access the following: (110) the fund can access the following: (111) the fund can access the following: (112) the fund can access the following: (113) the fund can access the following: (114) the fund can access the following: (115) the fund can access the following: (116) the fund can access the following: (117) the fund can access the following: (118) the fund can access the following: (119) the fund can access the following: (120) the fund can access the following: (121) the fund can access the following: (122) the fund can access the following: (123) the fund can access the following: (124) the fund can access the following: (125) the fund can access the following: (126) the fund can access the following: (127) the fund can access the following: (128) the fund can access the following: (129) the fund can access the following: (130) the fund can access the following: (131) the fund can access the following: (132) the fund can access the following: (133) the fund can access the following: (134) the fund can access the following: (135) the fund can access the following: (136) the fund can access the following: (137) the fund can access the following: (138) the fund can access the following: (139) the fund can access the following: (140) the fund can access the following: (141) the fund can access the following: (142) the fund can access the following: (143) the fund can access the following: (144) the fund can access the following: (145) the fund can access the following: (146) the fund can access the following: (147) the fund can access the following: (148) the fund can access the following: (149) the fund can access the following: (150) the fund can access the following: (151) the fund can access the following: (152) the fund can access the following: (153) the fund can access the following: (154) the fund can access the following: (155) the fund can access the following: (156) the fund can access the following: (157) the fund can access the following: (158) the fund can access the following: (159) the fund can access the following: (160) the fund can access the following: (161) the fund can access the following: (162) the fund can access the following: (163) the fund can access the following: (164) the fund can access the following: (165) the fund can access the following: (166) the fund can access the following: (167) the fund can access the following: (168) the fund can access the following: (169) the fund can access the following: (170) the fund can access the following: (171) the fund can access the following: (172) the fund can access the following: (173) the fund can access the following: (174) the fund can access the following: (175) the fund can access the following: (176) the fund can access the following: (177) the fund can access the following: (178) the fund can access the following: (179) the fund can access the following: (180) the fund can access the following: (181) the fund can access the following: (182) the fund can access the following: (183) the fund can access the following: (184) the fund can access the following: (185) the fund can access the following: (186) the fund can access the following: (187) the fund can access the following: (188) the fund can access the following: (189) the fund can access the following: (190) the fund can access the following: (191) the fund can access the following: (192) the fund can access the following: (193) the fund can access the following: (194) the fund can access the following: (195) the fund can access the following: (196) the fund can access the following: (197) the fund can access the following: (198) the fund can access the following: (199) the fund can access the following: (200) the fund can access the following: (201) the fund can access the following: (202) the fund can access the following: (203) the fund can access the following: (204) the fund can access the following: (205) the fund can access the following: (206) the fund can access the following: (207) the fund can access the following: (208) the fund can access the following: (209) the fund can access the following: (210) the fund can access the following: (211) the fund can access the following: (212) the fund can access the following: (213) the fund can access the following: (214) the fund can access the following: (215) the fund can access the following: (216) the fund can access the following: (217) the fund can access the following: (218) the fund can access the following: (219) the fund can access the following: (220) the fund can access the following: (221) the fund can access the following: (222) the fund can access the following: (223) the fund can access the following: (224) the fund can access the following: (225) the fund can access the following: (226) the fund can access the following: (227) the fund can access the following: (228) the fund can access the following: (229) the fund can access the following: (230) the fund can access the following: (231) the fund can access the following: (232) the fund can access the following: (233) the fund can access the following: (234) the fund can access the following: (235) the fund can access the following: (236) the fund can access the following: (237) the fund can access the following: (238) the fund can access the following: (239) the fund can access the following: (240) the fund can access the following: (241) the fund can access the following: (242) the fund can access the following: (243) the fund can access the following: (244) the fund can access the following: (245) the fund can access the following: (246) the fund can access the following: (247) the fund can access the following: (248) the fund can access the following: (249) the fund can access the following: (250) the fund can access the following: (251) the fund can access the following: (252) the fund can access the following: (253) the fund can access the following: (254) the fund can access the following: (255) the fund can access the following: (256) the fund can access the following: (257) the fund can access the following: (258) the fund can access the following: (259) the fund can access the following: (260) the fund can access the following: (261) the fund can access the following: (262) the fund can access the following: (263) the fund can access the following: (264) the fund can access the following: (265) the fund can access the following: (266) the fund can access the following: (267) the fund can access the following: (268) the fund can access the following: (269) the fund can access the following: (270) the fund can access the following: (271) the fund can access the following: (272) the fund can access the following: (273) the fund can access the following: (274) the fund can access the following: (275) the fund can access the following: (276) the fund can access the following: (277) the fund can access the following: (278) the fund can access the following: (279) the fund can access the following: (280) the fund can access the following: (281) the fund can access the following: (282) the fund can access the following: (283) the fund can access the following: (284) the fund can access the following: (285) the fund can access the following: (286) the fund can access the following: (287) the fund can access the following: (288) the fund can access the following: (289) the fund can access the following: (290) the fund can access the following: (291) the fund can access the following: (292) the fund can access the following: (293) the fund can access the following: (294) the fund can access the following: (295) the fund can access the following: (296) the fund can access the following: (297) the fund can access the following: (298) the fund can access the following: (299) the fund can access the following: (300) the fund can access the following: (301) the fund can access the following: (302) the fund can access the following: (303) the fund can access the following: (304) the fund can access the following: (305) the fund can access the following: (306) the fund can access the following: (307) the fund can access the following: (308) the fund can access the following: (309) the fund can access the following: (310) the fund can access the following: (311) the fund can access the following: (312) the fund can access the following: (313) the fund can access the following: (314) the fund can access the following: (315) the fund can access the following: (316) the fund can access the following: (317) the fund can access the following: (318) the fund can access the following: (319) the fund can access the following: (320) the fund can access the following: (321) the fund can access the following: (322) the fund can access the following: (323) the fund can access the following: (324) the fund can access the following: (325) the fund can access the following: (326) the fund can access the following: (327) the fund can access the following: (328) the fund can access the following: (329) the fund can access the following: (330) the fund can access the following: (331) the fund can access the following: (332) the fund can access the following: (333) the fund can access the following: (334) the fund can access the following: (335) the fund can access the following: (336) the fund can access the following: (337) the fund can access the following: (338) the fund can access the following: (339) the fund can access the following: (340) the fund can access the following: (341) the fund can access the following: (342) the fund can access the following: (343) the fund can access the following: (344) the fund can access the following: (345) the fund can access the following: (346) the fund can access the following: (347) the fund can access the following: (348) the fund can access the following: (349) the fund can access the following: (350) the fund can access the following: (351) the fund can access the following: (352) the fund can access the following: (353) the fund can access the following: (354) the fund can access the following: (355) the fund can access the following: (356) the fund can access the following: (357) the fund can access the following: (358) the fund can access the following: (359) the fund can access the following: (360) the fund can access the following: (361) the fund can access the following: (362) the fund can access the following: (363) the fund can access the following: (364) the fund can access the following: (365) the fund can access the following: (366) the fund can access the following: (367) the fund can access the following: (368) the fund can access the following: (369) the fund can access the following: (370) the fund can access the following: (371) the fund can access the following: (372) the fund can access the following: (373) the fund can access the following: (374) the fund can access the following: (375) the fund can access the following: (376) the fund can access the following: (377) the fund can access the following: (378) the fund can access the following: (379) the fund can access the following: (380) the fund can access the following: (381) the fund can access the following: (382) the fund can access the following: (383) the fund can access the following: (384) the fund can access the following: (385) the fund can access the following: (386) the fund can access the following: (387) the fund can access the following: (388) the fund can access the following: (389) the fund can access the following: (390) the fund can access the following: (391) the fund can access the following: (392) the fund can 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following: (417) the fund can access the following: (418) the fund can access the following: (419) the fund can access the following: (420) the fund can access the following: (421) the fund can access the following: (422) the fund can access the following: (423) the fund can access the following: (424) the fund can access the following: (425) the fund can access the following: (426) the fund can access the following: (427) the fund can access the following: (428) the fund can access the following: (429) the fund can access the following: (430) the fund can access the following: (431) the fund can access the following: (432) the fund can access the following: (433) the fund can access the following: (434) the fund can access the following: (435) the fund can access the following: (436) the fund can access the following: (437) the fund can access the following: (438) the fund can access the following: (439) the fund can access the following: (440) the fund can access the following: (441) 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access the following: (466) the fund can access the following: (467) the fund can access the following: (468) the fund can access the following: (469) the fund can access the following: (470) the fund can access the following: (471) the fund can access the following: (472) the fund can access the following: (473) the fund can access the following: (474) the fund can access the following: (475) the fund can access the following: (476) the fund can access the following: (477) the fund can access the following: (478) the fund can access the following: (479) the fund can access the following: (480) the fund can access the following: (481) the fund can access the following: (482) the fund can access the following: (483) the fund can access the following: (484) the fund can access the following: (485) the fund can access the following: (486) the fund can access the following: (487) the fund can access the following: (488) the fund can access the following: (489) the fund can access the following: (490) the fund can access the following: (491) the fund can access the following: (492) the fund can access the following: (493) the fund can access the following: (494) the fund can access the following: (495) the fund can access the following: (496) the fund can access the following: (497) the fund can access the following: (498) the fund can access the following: (499) the fund can access the following: (500) the fund can access the following: (501) the fund can access the following: (502) the fund can access the following: (503) the fund can access the following: (504) the fund can access the following: (505) the fund can access the following: (506) the fund can access the following: (507) the fund can access the following: (508) the fund can access the following: (509) the fund can access the following: (510) the fund can access the following: (511) the fund can access the following: (512) the fund can access the following: (513) the fund can access the following: (514) 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access the following: (539) the fund can access the following: (540) the fund can access the following: (541) the fund can access the following: (542) the fund can access the following: (543) the fund can access the following: (544) the fund can access the following: (545) the fund can access the following: (546) the fund can access the following: (547) the fund can access the following: (548) the fund can access the following: (549) the fund can access the following: (550) the fund can access the following: (551) the fund can access the following: (552) the fund can access the following: (553) the fund can access the following: (554) the fund can access the following: (555) the fund can access the following: (556) the fund can access the following: (557) the fund can access the following: (558) the fund can access the following: (559) the fund can access the following: (560) the fund can access the following: (561) the fund can access the following: (562) the fund can access the 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following: (709) the fund can access the following: (710) the fund can access the following: (711) the fund can access the following: (712) the fund can access the following: (713) the fund can access the following: (714) the fund can access the following: (715) the fund can access the following: (716) the fund can access the following: (717) the fund can access the following: (718) the fund can access the following: (719) the fund can access the following: (720) the fund can access the following: (721) the fund can access the following: (722) the fund can access the following: (723) the fund can access the following: (724) the fund can access the following: (725) the fund can access the following: (726) the fund can access the following: (727) the fund can access the following: (728) the fund can access the following: (729) the fund can access the following: (730) the fund can access the following: (731) the fund can access the following: (732) the fund can access the following: (733) 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the fund can access the following: (880) the fund can access the following: (881) the fund can access the following: (882) the fund can access the following: (883) the fund can access the following: (884) the fund can access the following: (885) the fund can access the following: (886) the fund can access the following: (887) the fund can access the following: (888) the fund can access the following: (889) the fund can access the following: (890) the fund can access the following: (891) the fund can access the following: (892) the fund can access the following: (893) the fund can access the following: (894) the fund can access the following: (895) the fund can access the following: (896) the fund can access the following: (897) the fund can access the following: (898) the fund can access the following: (899) the fund can access the following: (900) the fund can access the following: (901) the fund can access the following: (902) the fund can access the following: (903) the fund can access the following: (904) the fund can access the following: (905) the fund can access the following: (906) the fund can access the following: (907) the fund can access the following: (908) the fund can access the following: (909) the fund can access the following: (910) the fund can access the following: (911) the fund can access the following: (912) the fund can access the following: (913) the fund can access the following: (914) the fund can access the following: (915) the fund can access the following: (916) the fund can access the following: (917) the fund can access the following: (918) the fund can access the following: (919) the fund can access the following: (920) the fund can access the following: (921) the fund can access the following: (922) the fund can access the following: (923) the fund can access the following: (924) the fund can access the following: (925) the fund can access the following: (926) the fund can access the following: (927) the fund can access the following: (928) the fund can access the following: (929) the fund can access the following: (930) the fund can access the following: (931) the fund can access the following: (932) the fund can access the following: (933) the fund can access the following: (934) the fund can access the following: (935) the fund can access the following: (936) the fund can access the following: (937) the fund can access the following: (938) the fund can access the following: (939) the fund can access the following: (940) the fund can access the following: (941) the fund can access the following: (942) the fund can access the following: (943) the fund can access the following: (944) the fund can access the following: (945) the fund can access the following: (946) the fund can access the following: (947) the fund can access the following: (948) the fund can access the following: (949) the fund can access the following: (950) the fund can access the following: (951) the fund can access the following: (952) the fund can access the following: (953) the fund can access the following: (954) the fund can access the following: (955) the fund can access the following: (956) the fund can access the following: (957) the fund can access the following: (958) the fund can access the following: (959) the fund can access the following: (960) the fund can access the following: (961) the fund can access the following: (962) the fund can access the following: (963) the fund can access the following: (964) the fund can access the following: (965) the fund can access the following: (966) the fund can access the following: (967) the fund can access the following: (968) the fund can access the following: (969) the fund can access the following: (970) the fund can access the following: (971) the fund can access the following: (972) the fund can access the following: (973) the fund can access the following: (974) the fund can access the following: (975) the fund can access the following: (976) the fund can access the following: (977) the fund can access the following: (978) the fund can access the following: (979) the fund can access the following: (980) the fund can access the following: (981) the fund can access the following: (982) the fund can access the following: (983) the fund can access the following: (984) the fund can access the following: (985) the fund can access the following: (986) the fund can access the following: (987) the fund can access the following: (988) the fund can access the following: (989) the fund can access the following: (990) the fund can access the following: (991) the fund can access the following: (992) the fund can access the following: (993) the fund can access the following: (994) the fund can access the following: (995) the fund can access the following: (996) the fund can access the following: (997) the fund can access the following: (998) the fund can access the following: (999) the fund can access the following: (1000)

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32

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

![img-1.jpeg](img-1.jpeg)

The company's business structure and performance values, such as the company's business structure and performance values, are based on the company's business structure and performance values. The company's business structure and performance values are based on the company's business structure and performance values.

33

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

| Convertible | Preferred | Stocks | Value | Value or | Weighted | Impact to Valuation |
| --- | --- | --- | --- | --- | --- | --- |
| Investments in Securities | Value (000s) | Option (000s) | Valuation Unobservable | Unobservable Range of Input(s) | Range of Input(s) | Average of Incr. |

34

| Investments in Securities | Value (000s) | Valuation Technique(s)+ | Significant Unobservable Input(s) | Value or Range of Input(s) | Weighted Average of Input(s)* | Impact to Valuation from an Increase in Input** |
| --- | --- | --- | --- | --- | --- | --- |

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth
Value growth

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value[{"box, [68, [68,,, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}]

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value[{"box, [68, [68, [68, [68,, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}]

Excess of the value in the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value of the value[{"box, [68, [68,, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}][{"box, [68, [68, [68, [68, [68, 1] = 1, 1, 1,

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# NOTE 3 - OTHER INVESTMENT TRANSACTIONS

issued by governments of a nationalised in or prior to the currencies of emerging
returns are subject to examination made in the relevant authorities until expiration increase
and frontier market countries. Emerging markets tend to a greater extent frontier
applicable statute of limitations, which is the same three years after the filing of the tax
markets tend to have economic structures in the markets diverse and mature, less
return but which can be extended to six years. The main circumstances are return for
developed legal and regulatory regimes, and political systems that are less stable, increase
open years have incorporated no uncertain implications that require a decision to
than those of developed countries. These markets may be subject to greater political
income taxes.
economic, and social uncertainty discussed different emerging standards and regulations
and the financial environment that will potentially improve the social policy, policy or development book/

36

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

The fund files U.S. federal, state, and local tax returns as required. The fund's tax
tax differences to reflect tax character but were not limited for temporary differences
in securities of repatriate proceeds to U.S. dollar, emerging markets securities exchanges
there are below 100% of the total of the companies' tax assets. The
tax differences in the book/tax adjustments. If available, the impact on results of operations
are more likely to experience delays with the security and security of trading as well as
or net assets. The permanent book/tax adjustment is more primarily to the current net
the cost of holdings by local banks, agents and depositions. Such securities are often
operating loss and the character of income of the foreign investment companies
state and foreign investment by the U.S. and other States of inflation than (95,570)
Discount rate 25% 25% Decrease
The share of the company's tax assets for the period of the year 2014
other countries, including emerging markets. Enterprise 0.3x
($000x) value to gross - 0.4x
Total distributable earnings (loss) $(2,238,489)

37

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

At December 31, 2022, the tax-basis components of accumulated net earnings (loss)

**Restricted Securities** The financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure of the financial structure

38

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

NOTE 6 - RELATED PARTY TRANSACTIONS

ordinary tons deferrals. Capital tons can/fortyards are available indefinitely to offset
conclusion. The individual fund fee, equal to 0.45% of the fund's average daily net assets,
is the estimated 31.2% of the fund's net assets. The fund is collected on the following basis: the first day
and 30 days, less than 30 days, the fund is calculated based on the combined net assets of two
other companies. The fund is collected on the following basis: the first day and 30 days, less than 30 days, the fund is calculated based on the combined net assets of two
other companies. The fund is collected on the following basis: the first day and 30 days, less than 30 days, the fund is calculated based on the combined net assets of two
other companies. The fund is collected on the following basis: the first day and 30 days, less than 30 days, the fund is calculated based on the combined net assets of two
other companies. The fund is collected on the following basis: the first day and 30 days, less than 30 days, the fund is calculated based on the combined net assets of two
other companies. The fund is collected on the following basis: the first day and 30 days, less than 30 days, the fund is calculated based on the combined net assets of two
other companies.

39

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

In addition to character, book and investment income and realized gains for financial
interest, the company's share of the financial and financial performance of the company's share of the
company's share of the financial and financial performance of the company's share of the
company's share of the financial and financial performance of the company's share of the
company's share of the financial and financial performance of the company's share of the
company's share of the financial and financial performance of the company's share of the
company's share of the financial and financial performance of the company's share of the
company's share of the financial and financial performance of the company's share of the
company's share of the financial and financial performance of

40

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# NOTE 7 - OTHER MATTERS

To the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board of Directors and Shareholders of T. Rowe Price Global Technology Fund, the Board

41

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

portfolio of investments, of T. Rowe Price Global Technology Fund, Inc. (the "Fund") as
(CONTINUED) 31, 2022, the market statement of operations for the year ended December

31, 2022, the investment of shares in the assets for each of the two units of the market
and the market statement of operations for the year ended December 31, 2022, the market statement of operations for the year ended December 31, 2022, the market statement of operations for the year ended December 31, 2022, the market statement of operations for the year ended December 31, 2022, the market statement of operations for the year ended December 31, 2022, the market statement of operations for the year ended December 31, 2022, the market statement

2022, the fund had no purchases or sales cross trades with other funds or accounts

42

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

by its suppliers, for the year ended the December 31, 2022 and the financial statements of the financial statements. The report of the period ended December 31, 2022 and the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements

43

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# TAX INFORMATION (UNAUDITED) FOR THE TAX YEAR ENDED 12/31/22

492,875,000 from long-term capital gains, subject to a long-term capital gains tax rate
(Note: This is a public accounting firm registered with the Public Company Accounting
of not greater than 20%
Corporate Assets (United States) (PCAOB) and are required to be independent with
APPROVAL OF SUBADVISORY AGREEMENT
respect to the Fund in accordance with the U.S. federal securities laws and the applicable
INFORMATION ON PROXY VOTING POLICIES, PROCEDURES, AND
RECORDS
(but) considered the initial approval of an investment subsidiary agreement
(see above) and the statements in accordance with the standards
of the policies and procedures used by T. Rowe Price funds to determine
the position of the Company in the event that the company has been
now to vote proxies relating to portfolio securities is available in each fund's Statement of

44

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

Contract authorizes the Subdivisory to have investment discretion with respect to all or additional information. You may request this document to call 1-800-228-0132 or by telephone or contact 1-800-228-0133. The Board notes that the Subdivisory Contract will be the following terms and conditions of agreement: (1) the Company's rights and obligations under the Investment Act of 1970; (2) the Company's rights and obligations under the Investment Act of 1970; (3) the Company's rights and obligations under the Investment Act of 1970; (4) the Company's rights and obligations under the Investment Act of 1970; (5) the Company's rights and obligations under the Investment Act of 1970; (6) the Company's rights and obligations under the Investment Act of 1970; (7) the Company's rights and obligations under the Investment Act of 1970; (8) the Company's rights and obligations under the Investment Act of 1970; (9) the Company's rights and obligations under the Investment Act of 1970; (10) the Company's rights and obligations under the Investment Act of 1970; (11) the Company's rights and obligations under the Investment Act of 1970; (12) the Company's rights and obligations under the Investment Act of 1970; (13) the Company's rights and obligations under the Investment Act of 1970; (14) the Company's rights and obligations under the Investment Act of 1970; (15) the Company's rights and obligations under the Investment Act of 1970; (16) the Company's rights and obligations under the Investment Act of 1970; (17) the Company's rights and obligations under the Investment Act of 1970; (18) the Company's rights and obligations under the Investment Act of 1970; (19) the Company's rights and obligations under the Investment Act of 1970; (20) the Company's rights and obligations under the Investment Act of 1970; (21) the Company's rights and obligations under the Investment Act of 1970; (22) the Company's rights and obligations under the Investment Act of 1970; (23) the Company's rights and obligations under the Investment Act of 1970; (24) the Company's rights and obligations under the Investment Act of 1970; (25) the Company's rights and obligations under the Investment Act of 1970; (26) the Company's rights and obligations under the Investment Act of 1970; (27) the Company's rights and obligations under the Investment Act of 1970; (28) the Company's rights and obligations under the Investment Act of 1970; (29) the Company's rights and obligations under the Investment Act of 1970; (30) the Company's rights and obligations under the Investment Act of 1970; (31) the Company's rights and obligations under the Investment Act of 1970; (32) the Company's rights and obligations under the Investment Act of 1970; (33) the Company's rights and obligations under the Investment Act of 1970; (34) the Company's rights and obligations under the Investment Act of 1970; (35) the Company's rights and obligations under the Investment Act of 1970; (36) the Company's rights and obligations under the Investment Act of 1970; (37) the Company's rights and obligations under the Investment Act of 1970; (38) the Company's rights and obligations under the Investment Act of 1970; (39) the Company's rights and obligations under the Investment Act of 1970; (40) the Company's rights and obligations under the Investment Act of 1970; (41) the Company's rights and obligations under the Investment Act of 1970; (42) the Company's rights and obligations under the Investment Act of 1970; (43) the Company's rights and obligations under the Investment Act of 1970; (44) the Company's rights and obligations under the Investment Act of 1970; (45) the Company's rights and obligations under the Investment Act of 1970; (46) the Company's rights and obligations under the Investment Act of 1970; (47) the Company's rights and obligations under the Investment Act of 1970; (48) the Company's rights and obligations under the Investment Act of 1970; (49) the Company's rights and obligations under the Investment Act of 1970; (50) the Company's rights and obligations under the Investment Act of 1970; (51) the Company's rights and obligations under the Investment Act of 1970; (52) the Company's rights and obligations under the Investment Act of 1970; (53) the Company's rights and obligations under the Investment Act of 1970; (54) the Company's rights and obligations under the Investment Act of 1970; (55) the Company's rights and obligations under the Investment Act of 1970; (56) the Company's rights and obligations under the Investment Act of 1970; (57) the Company's rights and obligations under the Investment Act of 1970; (58) the Company's rights and obligations under the Investment Act of 1970; (59) the Company's rights and obligations under the Investment Act of 1970; (60) the Company's rights and obligations under the Investment Act of 1970; (61) the Company's rights and obligations under the Investment Act of 1970; (62) the Company's rights and obligations under the Investment Act of 1970; (63) the Company's rights and obligations under the Investment Act of 1970; (64) the Company's rights and obligations under the Investment Act of 1970; (65) the Company's rights and obligations under the Investment Act of 1970; (66) the Company's rights and obligations under the Investment Act of 1970; (67) the Company's rights and obligations under the Investment Act of 1970; (68) the Company's rights and obligations under the Investment Act of 1970; (69) the Company's rights and obligations under the Investment Act of 1970; (70) the Company's rights and obligations under the Investment Act of 1970; (71) the Company's rights and obligations under the Investment Act of 1970; (72) the Company's rights and obligations under the Investment Act of 1970; (73) the Company's rights and obligations under the Investment Act of 1970; (74) the Company's rights and obligations under the Investment Act of 1970; (75) the Company's rights and obligations under the Investment Act of 1970; (76) the Company's rights and obligations under the Investment Act of 1970; (77) the Company's rights and obligations under the Investment Act of 1970; (78) the Company's rights and obligations under the Investment Act of 1970; (79) the Company's rights and obligations under the Investment Act of 1970; (80) the Company's rights and obligations under the Investment Act of 1970; (81) the Company's rights and obligations under the Investment Act of 1970; (82) the Company's rights and obligations under the Investment Act of 1970; (83) the Company's rights and obligations under the Investment Act of 1970; (84) the Company's rights and obligations under the Investment Act of 1970; (85) the Company's rights and obligations under the Investment Act of 1970; (86) the Company's rights and obligations under the Investment Act of 1970; (87) the Company's rights and obligations under the Investment Act of 1970; (88) the Company's rights and obligations under the Investment Act of 1970; (89) the Company's rights and obligations under the Investment Act of 1970; (90) the Company's rights and obligations under the Investment Act of 1970; (91) the Company's rights and obligations under the Investment Act of 1970; (92) the Company's rights and obligations under the Investment Act of 1970; (93) the Company's rights and obligations under the Investment Act of 1970; (94) the Company's rights and obligations under the Investment Act of 1970; (95) the Company's rights and obligations under the Investment Act of 1970; (96) the Company's rights and obligations under the Investment Act of 1970; (97) the Company's rights and obligations under the Investment Act of 1970; (98) the Company's rights and obligations under the Investment Act of 1970; (99) the Company's rights and obligations under the Investment Act of 1970; (100)

45

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **LIQUIDITY RISK MANAGEMENT PROGRAM**

New Milns - Click on the links in the shaded box.

The information, the Advise, is responsible for overseeing the day-to-day operations of the
LRC, the first and other of the other, and the second and third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and the third of the other, and

**HOW TO OBTAIN QUARTERLY PORTFOLIO HOLDINGS**
It also explained the methodology for establishing a fund's HLIM and noted that the LRC

46

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **LIQUIDITY RISK MANAGEMENT PROGRAM (CONTINUED)**

shareholder report for the period ended June 30, 2022. The factors considered by the
companies have limited the content of the market, the market share and the risk that the
operating the Group has continued. The Company's business and the Company's
company has been a major source of investment in the Group's business and the Company's
company has been a major source of investment in the Group's business and the Company's
company has been a major source of investment in the Group's business and the Company's
company has been a major source of investment in the Group's business and the Company's
company has been a major source of investment in the Group's business and the Company's
company has been a major source of investment in the Group's business and the Company's
company has been a major source

Your fund will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control

affairs. The Company's business and the Company's company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control of the Group's business and the Company's
company will be under the Company's control

Section 2(a)(19) of the 1940 Act because of their relationships with T. Rowe Price and its affiliates
The business address of each director and officer is 100 East Pratt Street, Baltimore, Maryland

---

47

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# ABOUT THE FUND'S DIRECTORS AND OFFICERS

21202. The following is a list of the Fund's Directors and Officers. The Directors and Directors of the Fund are the Directors of the Fund's Directors and Officers. The Directors and Directors of the Fund are the Directors of the Fund's Directors and Officers. The Directors and Directors of the Fund are the Directors of the Fund's Directors and Officers. The Directors and Directors of the Fund are the Directors of the Fund's Directors and Officers. The Directors and Directors of the Fund are the Directors of the Fund's Directors and Officers. The Directors and Directors of the Fund are the Directors of the Fund's Directors and Officers. The Directors and Directors of the Fund are

48

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **INDEPENDENT DIRECTORS (CONTINUED)**

**[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and Portfolios Overseen]**

**[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and Portfolios Overseen]**

49

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# **INTERESTED DIRECTORS** (CONTINUED)

2020-2021, cash and cash equivalents, as well as available borrowing arrangements.
Report: Department of Social Projects University (2009 to present); Director, Executive April 27, 2022, Mr. Daniels resigned from his role as an independent director of the Price Funds.
2021: Lyndhurst Holdings (2015 to present); Director, Bhagwati Pharma, Inc.
Fund.
2020 Information about the interest of a person was current as of January 1, 2022, unless otherwise
Effective November 8, 2021. Mr. Daniels was appointed as an independent director of the Price Funds.
2020 Information about the interest of a person was current as of January 1, 2022, unless otherwise
Effective November 8, 2021. Mr. Daniels was appointed as an independent director of the Price Funds.
2020 Information about the interest of a person was current as of January 1, 2022, unless otherwise
Effective November 8, 2021. Mr. Daniels was appointed as an independent director of the Price Funds.
2020 Information about the interest of a person was current as of January 1, 2022, unless otherwise
Effective November 8, 2021. Mr. Daniels was appointed as an independent director of the Price Funds.
2020 Information about the interest of a person was current as of January 1, 2022, unless otherwise
Effective November 8, 2021. Mr. Daniels was appointed as an independent director of the Price Funds.
2020 Information about the interest of a person

**INTERESTED DIRECTORS** (CONTINUED)
2020: The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to 2020) and President (2009 to 2016), First Industrial Properties, The Board (2016 to

50

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

# OFFICERS (CONTINUED)

T. ROWE PRICE GLOBAL TECHNOLOGY FUND

**OFFICERS (CONTINUED)**

Lu Liu (1979)
Vice President
All Wells and (1992)
Roger Meekman (1970)
Vice President

Research and Development
Vice President
(1971)
Fran M. Pollack-Matz (1961)

Price Japan (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan) (Price Japan)

Vice President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.; President, T. Rowe Price Group, Inc.;

![img-0.jpeg](img-0.jpeg)

52

Name (Year of Birth)
Position Held With Global Technology Fund Principal Occupation(s)

Item 1. (b) Notice pursuant to Rule 30e-3.

Not applicable.

# Item 2. Code of Ethics.

The registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or party performing similar functions. A copy of this code of ethics is filed as an exhibit to this Form N-CSR. No substantive amendments were approved or waivers were granted to this code of ethics. The registrant is a member of the Board of Directors/Trustees.

The registrant is a member of the Board of Directors/Trustees. The registrant is a member of the Board of Directors/Trustees.

The registrant is a member of the Board of Directors/Trustees. The registrant is a member of the Board of Directors/Trustees.

(a) The registrant is a member of the Board of Directors/Trustees. The registrant is a member of the Board of Directors/Trustees.

|  | 2022 | 2021 |
| --- | --- | --- |
| Audit Fees | $24,353 | $23,471 |
| Audit-Related Fees | - | - |
| Tax Fees | - | 1,893 |
| All Other Fees | - | - |

Audit fees include amounts related to the audit of the registrant's annual financial statements and services normally provided by the accountant in connection with statutory and regulatory filings. Audit-related fees include amounts reasonably related to the performance of the audit of the registrant's financial statements and specifically include the issuance of a report on internal controls and, if applicable, agreed-upon procedures related to fund acquisitions. Tax fees include amounts related to services for tax compliance, tax planning, and tax advice. The nature of these services specifically includes the review of distribution calculations and the preparation of Federal, state, and excise tax returns. All other fees include the registrant's pro-rata share of amounts for agreed-upon procedures in conjunction with service contract approvals by the registrant's Board of Directors/Trustees.

(e)(1) The registrant's audit committee has adopted a policy whereby audit and non-audit services performed by the registrant's principal accountant for the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant require pre-approval in advance at regularly scheduled audit committee meetings. If such a service is required between regularly scheduled audit committee meetings, pre-approval may be authorized by one audit committee member with ratification at the next scheduled audit committee meeting. Waiver of pre-approval for audit or non-audit services requiring fees of a de minimis amount is not permitted.

(2) No services included in (b) - (d) above were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

T. Rowe Price Investment Services, Inc. \ 100 East Pratt Street \ Baltimore, MD 21202-1009

(f) Less than 50 percent of the hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant's full-time, permanent employees.

(g) The aggregate fees billed for the most recent fiscal year and the preceding fiscal year by the registrant's principal accountant for non-audit services rendered to the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant were $2,037,000 and $3,732,000, respectively.

(h) All non-audit services rendered in (g) above were pre-approved by the registrant's audit committee. Accordingly, these services were considered by the registrant's audit committee in accordance with the principal accountant's independence.

| Vice President | GENERAL INVESTING COLLEGE SAVINGS |
| --- | --- |
| Vice President, T. Rowe Price and T. Rowe Price |  |
| Vice President, T. Rowe Price and T. Rowe Price |  |
| Vice President, T. Rowe Price and T. Rowe Price |  |
| Vice President, T. Rowe Price and T. Rowe Price |  |
| Vice President, T. Rowe Price and T. Rowe Price |  |
| Vice President, T. Rowe Price and T. Rowe Price |  |
| Vice President, T. Rowe Price and T. Rowe Price |  |
| Vice President, T. Rowe Price and T. Rowe Price |  |

(b) Not applicable.

**Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

**Item 8. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable.

**Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable.

**Item 10. Submission of Matters to a Vote of Security Holders.**

There has been no change to the procedures by which shareholders may recommend nominees to the registrant's board of directors.

**Item 11. Controls and Procedures.**

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

# **Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

Unless otherwise noted, officers have been employees of T. Rowe Price or Price International for at least

5 years.

(1) T. Rowe Price® child (UGMA/UTMAs) related expenses
(2) Active Plus Portfolio, the registrant's principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940, are attached.
(3) Written disclosures to repurchase securities issued by closed-end companies: not applicable.
(b) This document is not to be construed as a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or a material, or

Unless otherwise noted, officers have been employees of T. Rowe Price or Price International for at least 5 years.

# SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

T. Rowe Price Global Technology Fund, Inc.

By /s/ David Oestreicher
David Oestreicher
Principal Executive Officer

Date 1-800-666-5336. No request a prospectus or summary prospectus; each includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

All mutual funds are subject to market risk and other available risk information. Investing internationally includes investment management and financial services, and other information that you should read and consider carefully before investing.

The T. Rowe Price Global Technology Fund, Inc. and its subsidiaries and affiliates are not a liability, express or implied, for any person, or any person, who is not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of the firm, or are not a member of

Date February 16, 2023
By /s/ Alan S. Dupski
Alan S. Dupski
Principal Financial Officer

Date February 16, 2023

T. Rowe Price Advisory Services, Inc., a registered investment adviser under the Investment Advisers Act of 1940. Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC. T. Rowe Price Advisory Services, Inc., and T. Rowe Price Investment Services, Inc., are affiliated companies.

$^{2}$ Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC.

202302-2582616  
F132-050 2/23

## Ex-99.Cert

**Item 13. (a)(2)** 

**<u>CERTIFICATIONS</u>**

I, David Oestreicher, certify that:

1. I have reviewed this report on Form N-CSR of T. Rowe Price Global Technology Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 16, 2023 | /s/ David Oestreicher |
|  | David Oestreicher |
|  | Principal Executive Officer |

---

------

**<u>CERTIFICATIONS</u>**

I, Alan S. Dupski, certify that:

1. I have reviewed this report on Form N-CSR of T. Rowe Price Global
Technology Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 16, 2023 | /s/ Alan S. Dupski |
|  | Alan S. Dupski |
|  | Principal Financial Officer |

---

## Exhibit 99.906

**Item 13. (b)** 

**CERTIFICATION UNDER SECTION 906 OF SARBANES-OXLEY ACT OF 2002** 

Name of Issuer: T. Rowe Price Global Technology Fund

In connection with the Report on Form N-CSR for the above named Issuer, the undersigned hereby certifies, to the best of his knowledge, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange
Act of 1934;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Issuer.

---

| | |
|:---|:---|
| Date: February 16, 2023 | /s/ David Oestreicher |
|  | David Oestreicher |
|  | Principal Executive Officer |
| Date: February 16, 2023 | /s/ Alan S. Dupski |
|  | Alan S. Dupski |
|  | Principal Financial Officer |

---

## Ex-99.Code

**CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL** 

**OFFICERS OF THE T. ROWE PRICE MUTUAL FUNDS AND EXCHANGE-** 

**TRADED FUNDS** 

**UNDER THE SARBANES-OXLEY ACT OF 2002** 

**I. General Statement.** This Code of Ethics for the T. Rowe Price Mutual Funds and Exchange-Traded Funds (the "Price ETFs" and, together with the Mutual Funds, the **"Price Funds")** has been designed to bring the Price Funds into compliance with the applicable requirements of the Sarbanes-Oxley Act of 2002 (the **"Act")** and rules promulgated by the Securities and Exchange Commission thereunder ("Regulations"). This Price Funds' Code of Ethics (the **"S-O Code")** applies solely to the Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller of, or persons performing similar functions for, a Price Fund (whether such persons are employed by a Price Fund or third party) **("Covered Officers").** The **"Price Funds"** shall include each mutual fund and ETF that is managed, sponsored and distributed by affiliates of T. Rowe Price Group, Inc. **("Group").** The investment managers to the Price Funds will be referred to as the **"Price Fund Advisers."** A list of Covered Officers is attached as **Exhibit A.**

The Price Fund Advisers have, along with their parent, T. Rowe Price Group, Inc. **("Group")** also maintained a comprehensive Code of Ethics and Conduct (the **"Group Code")** since 1972, which applies to all officers, directors and employees of the Price Funds, Group and its affiliates.

As mandated by the Act, Group has adopted a Code (the **"Group S-O Code"),** similar to the Price Funds S-O Code, which applies solely to its principal executive and senior financial officers. The Group S-O Code and the Price Funds S-O Code will be referred to collectively as the **"S-O Codes".**

The Price Funds S-O Code has been adopted by the Price Funds in accordance with the Act and Regulations thereunder and will be administered in conformity with the disclosure requirements of Item 2 of Form N-CSR. The S-O Codes are attachments to the Group Code. In many respects the S-O Codes are supplementary to the Group Code, but the Group Code is administered separately from the S-O Codes, as the S-O Codes are from each other.

**II. Purpose of the Price Funds S-O Code.** The purpose of the Price Funds S-O Code, as mandated by the Act and the Regulations, is to establish standards that are reasonably designed to deter wrongdoing and to promote:

**Ethical Conduct.** Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships.

**Disclosure.** Full, fair, accurate, timely and understandable disclosure in reports and documents that the Price Funds file with, or submit to, the SEC and in other public communications made by the Price Funds.

**Compliance.** Compliance with applicable governmental laws, rules and regulations.

**Reporting of Violations.** The prompt internal reporting of violations of the Price Funds S-O Code to an appropriate person or persons identified in the Price Funds S-O Code.

**Accountability.** Accountability for adherence to the Price Funds S-O Code.

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**III. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest.** 

**Overview.** Each Covered Officer owes a duty to the Price Funds to adhere to a high standard of honesty and business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to, the Price Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his or her family, receives improper personal benefits as a result of his or her position with a Price Fund.

Certain conflicts of interest covered by the Price Funds S-O Code arise out of the relationships between Covered Officers and the Price Funds and may already be subject to provisions regulating conflicts of interest in the Investment Company Act of 1940 **("Investment Company Act"),** the Investment Advisers Act of 1940 **("Investment Advisers Act")** and the Group Code. For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Price Fund because of their status as "affiliated persons" of a Price Fund. The compliance programs and procedures of the Price Funds and Price Fund Advisers are designed to prevent, or identify and correct, violations of these provisions.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between a Price Fund and its Price Fund Adviser (and its affiliates) of which the Covered Officers may also be officers or employees. As a result, the Price Funds S-O Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Price Funds or for the Price Fund Advisers, or for both), be involved in establishing policies and implementing decisions which will have different effects on these entities. The participation of the Covered Officers in such activities is inherent in the contractual relationship between each Price Fund and its respective Price Fund Adviser. Such participation is also consistent with the performance by the Covered Officers of their duties as officers of the Price Funds and, if consistent with the provisions of the Investment Company Act and the Investment Advisers Act, it will be deemed to have been handled ethically.

Other conflicts of interest are covered by the Price Funds and Price ETFs S-O Code, even if these conflicts of interest are not addressed by or subject to provisions in the Investment Company Act and the Investment Advisers Act.

Whenever a Covered Officer is confronted with a conflict of interest situation where he or she is uncertain as to the appropriate action to be taken, he or she should discuss the matter with the Chairperson of Group's Ethics Committee or another member of the Committee.

**Handling of Specific Types of Conflicts.** Each Covered Officer (and close family members) must not:

**Entertainment.** Accept entertainment from any company with which any Price Fund or any Price Fund Adviser has current or prospective business dealings including portfolio companies, unless such entertainment is in full compliance with the policy on entertainment as set forth in the Group Code.

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**Gifts.** Accept any gifts, except as permitted by the Group Code.

**Improper Personal Influence.** Use his or her personal influence or personal relationships improperly to influence investment decisions, brokerage allocations or financial reporting by the Price Funds to the detriment of any one or more of the Price Funds.

**Taking Action at the Expense of a Price Fund.** Cause a Price Fund to take action, or fail to take action, for the personal benefit of the Covered Officer rather than for the benefit of one or more of the Price Funds.

**Misuse of Price Funds' Transaction Information.** Use knowledge of portfolio transactions made or contemplated for a Price Fund or any other clients of the Price Fund Advisers to trade personally or cause others to trade in order to take advantage of or avoid the market impact of such portfolio transactions; and in connection with Price ETFs that do not disclose portfolio holdings daily, use knowledge of pending changes to an ETF's proxy portfolio holdings for such purposes.

**Outside Business Activities.** Engage in any outside business activity that detracts from a Covered Officer's ability to devote appropriate time and attention to his or her responsibilities to a Price Fund.

**Service Providers.** Excluding Group and its affiliates, have any ownership interest in, or any consulting or employment relationship with, any of the Price Funds' service providers, except that an ownership interest in public companies is permitted

**Receipt of Payments.** Have a direct or indirect financial interest in commissions, transaction charges, spreads or other payments paid by a Price Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest (such as compensation or equity ownership) arising from the Covered Officer's employment by Group or any of its affiliates.

**Service as a Director or Trustee.** Serve as a director, trustee or officer of any public or private company or a non-profit organization that issues securities eligible for purchase by any of the Price Funds, unless approval is obtained as required by the Group Code.

**IV. Covered Officers' Specific Obligations and Accountabilities.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Disclosure Requirements and Controls.** Each Covered Officer must familiarize himself or herself with the disclosure requirements (Form N-lA registration statement, proxy (Schedule 14A), shareholder reports, Forms N-CEN, N-CSR, etc.) applicable to the Price Funds and the disclosure controls and procedures of the Price Fund and the Price Fund Advisers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Compliance with Applicable Law.** It is the responsibility of each Covered Officer to promote compliance with all laws, rules and regulations applicable to the Price Funds and the Price Fund Advisers. Each Covered Officer should, to the extent appropriate within his or her area of responsibility, consult with other officers and employees of the Price Funds and the Price Fund Advisers and take other appropriate steps with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Price Funds file with, or submit to, the SEC, and in other public

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communications made by the Price Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**C. Fair Disclosure.** Each Covered Officer must not knowingly misrepresent, or cause others to misrepresent, facts about a Price Fund to others, whether within or outside the Price organization, including to the Price Fund's directors and auditors, and to governmental regulators and self-regulatory organizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**D. Initial and Annual Affirmations.** Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Upon adoption of the Price Funds S-O Code (or thereafter, as applicable, upon becoming a Covered Officer), affirm in writing that he or she has received, read, and understands the Price Funds S-O Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Annually affirm that he or she has complied with the requirements of the Price Funds S-O Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**E. Reporting of Material Violations of the Price Funds S-O Code.** If a Covered Officer becomes aware of any material violation of the Price Funds S-O Code or laws and governmental rules and regulations applicable to the operations of the Price Funds, he or she must promptly report the violation **("Report")** to the Chief Compliance Officer of the Price Funds **("CCO").** Failure to report a material violation will be considered itself a violation of the Price Funds S-O Code. The CCO is identified in the attached **Exhibit B.**

It is the Price Funds' policy that no retaliation or other adverse action will be taken against any Covered Officer or other employee of a Price Fund, a Price Fund Adviser or their affiliates based upon any lawful actions of the Covered Officer or employee with respect to a Report made in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**F. Annual Disclosures.** Each Covered Officer must report, at least annually, all affiliations or other relationships as called for in the "Annual Compliance Certification" for T. Rowe Price Group.

**V. Administration of the Price Funds S-O Code.** The Ethics Committee is responsible for administering the Price Funds S-O Code and applying its provisions to specific situations in which questions are presented.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A. Waivers and Interpretations.** The Chairperson of the Ethics Committee has the authority to interpret the Price Funds S-O Code in any particular situation and to grant waivers where justified, subject to the approval of the Joint Audit Committee of the Price Funds. All material interpretations concerning Covered Officers will be reported to the Joint Audit Committee of the Price Funds at its next meeting. Waivers, including implicit waivers, to Covered Officers will be publicly disclosed as required in the Instructions to N-CSR. Pursuant to the definition in the Regulations, an implicit waiver means a Price Fund's failure to take action within a reasonable period of time regarding a material departure from a provision of the Price Funds S-O Code that has been made known to an "executive officer" (as defined in Rule 3b-7 under the Securities Exchange Act of 1934) of a Price Fund. An executive officer of a Price Fund includes its president and any vice-president in charge of a principal business unit, division or function.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Violations/Investigations.** The following procedures will be followed in

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investigating and enforcing the Price Funds S-O Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The CCO will take or cause to be taken appropriate action to investigate any potential or actual violation reported to him or her.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The CCO, after consultation if deemed appropriate with Outside Counsel to the Price Funds, will make a recommendation to the appropriate Price Funds Board regarding the action to be taken with regard to each material violation. Such action could include any of the following: a letter of censure or suspension, a fine, a suspension of trading privileges or termination of officership or employment. In addition, the violator may be required to surrender any profit realized (or loss avoided) from any activity that is in violation of the Price Funds S-O Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Investigations of Whistleblower complaints related to Price Funds will be handled in accordance with the T. Rowe Price Global Whistleblower Policy.

**VI. Amendments to the Price Funds S-O Code.** Except as to the contents of **Exhibit A and Exhibit B,** the Price Funds S-O Code may not be materially amended except in written form, which is specifically approved or ratified by a majority vote of each Price Fund Board, including a majority of the independent directors on each Board.

**VII. Confidentiality.** All reports and records prepared or maintained pursuant to the Price Funds S-O Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law, the Price Funds S-O Code or as necessary in connection with regulations under the Price Funds S-O Code, such matters shall not be disclosed to anyone other than the directors of the appropriate Price Fund Board, Outside Counsel to the Price Funds, members of the Ethics Committee and the CCO and authorized persons on his or her staff.

Adoption Date: 10/22/03

Last Revised: 05/11/2022 (Exhibit B revised)

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## Exhibit A
**Persons Covered by the Price Funds and** 

**Price ETFs S-O Code of Ethics** 

David Oestreicher, Executive Vice President and Principal Executive Officer

Alan S. Dupski, Treasurer and Principal Financial Officer

## Exhibit B
Dino Capasso, Chief Compliance Officer