# EDGAR Filing Document

**Accession Number:** 0001019286
**File Stem:** 0001193125-23-044735
**Filing Date:** 2023-2
**Character Count:** 246382
**Document Hash:** ad6c9f6742456120a7ca109a3751a5aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-044735.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001193125-23-044735

**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 Financial Services Fund, Inc.
- **CENTRAL INDEX KEY:** 0001019286
- **IRS NUMBER:** 522024849
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07749
- **FILM NUMBER:** 23652823

**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:** PRICE T ROWE FINANCIAL SERVICES FUND INC
- **DATE OF NAME CHANGE:** 19960720

## Series and Classes Contracts Data

### T. Rowe Price Financial Services Fund, Inc. (Series ID: S000002084)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000005450 | T. Rowe Price Financial Services Fund, Inc.    | PRISX           |
| C000177205 | T. Rowe Price Financial Services Fund--I Class | TFIFX           |

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: 811-07749

T. Rowe Price Financial Services 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

| PRISX | T. ROWE PRICE Financial Services Fund |
| --- | --- |
| TFIFX | Financial Services Fund- I Class |

INVEST WITH CONFIDENCE®

- Stocks of financial services companies generally rose in the second half of 2022, reducing significant first-half losses. Your fund declined for the full year but outperformed the Russell 3000 Financial Index, the Lipper peer group index, and the Morningstar Financial Average.

- Shares of regional banks and large money center banks have been hurt by expectations for considerable credit losses in the event of a recession. On the

## Go Paperless

Sign up for e-delivery of your statements, confirmations, and prospectuses or shareholder reports.

TO ENROLL:

If you invest directly with T. Rowe Price, go to **troweprice.com/paperless**.

If you invest through an investment advisor, a bank, or a brokerage firm, please contact that organization and ask if it can provide electronic documentation.

**It's fast**-receive your statements and confirmations faster than U.S. mail.

**It's convenient**-access your important account documents whenever you need them.

**It's secure**-we protect your online accounts using 'True Identity' to confirm new accounts and make verification faster and more secure.

**It can save you money**-where applicable, T. Rowe Price passes on the cost savings to fund holders.*

* Certain mutual fund accounts that are assessed an annual account service fee can also save money by switching to e-delivery.

T. ROWE PRICE FINANCIAL SERVICES FUND

Market Commentary

# **HIGHLIGHTS**

other hand, many property and casualty (P&C) insurers are benefiting from a pricing upcycle that could extend for several years.

Nearly all major global stock and bond indexes fell sharply in 2022, as investors in the last six months, we eliminated some lower-correction holdings in the P&C industry. Among capital markets companies, we reduced our stakes in a few large Wall Street firms as they appreciated in the latter part of the year.

Double-digit losses were common in equity markets around the world, and The Federal Reserve is likely to continue raising interest rates in 2023, but it

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

T. ROWE PRICE FINANCIAL SERVICES FUND

## Dear Shareholder

remains to be the same. I have a decided share of the debt, but will probably a economic growth. We want to be able to get the balance of the financial services. We are doing so that we have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security. We have a positive effect on our security.

1

T. ROWE PRICE FINANCIAL SERVICES FUND

Management's Discussion of Fund Performance

sharp increase in yields led to historically weak results across the fixed income
with the S&P 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 been a major one for the years. The following
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
investment professionals, go to

troweprice.com.

| Periods Ended 12/31/22 | Total Return |  |
| --- | --- | --- |
|  | 6 Months | 12 Months |
| Financial Services Fund | 7.70% | -10.95% |
| Financial Services Fund- |  |  |
| I Class | 7.80 | -10.83 |

2

T. ROWE PRICE FINANCIAL SERVICES FUND

# **INVESTMENT OBJECTIVE**[{"box_2d": [128, 81, 609, 183], "label": "text", "caption": "Stocks of financial services companies generally rose in the second half of 2020. 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services company's investment in the 2365 financial services company's investment in the 2366 financial services company's investment in the 2367 financial services company's investment in the 2368 financial services company's investment in the 2369 financial services company's investment in the 2370 financial services company's investment in the 2371 financial services company's investment in the 2372 financial services company's investment in the 2373 financial services company's investment in the 2374 financial services company's investment in the 2375 financial services company's investment in the 2376 financial services company's investment in the 2377 financial services company's investment in the 2378 financial services company's investment in the 2379 financial services company's investment in the 2380 financial services company's investment in the 2381 financial services company's investment in the 2382 financial services company's investment in the 2383 financial services 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company's investment in the 2480 financial services company's investment in the 2481 financial services company's investment in the 2482 financial services company's investment in the 2483 financial services company's investment in the 2484 financial services company's investment in the 2485 financial services company's investment in the 2486 financial services company's investment in the 2487 financial services company's investment in the 2488 financial services company's investment in the 2489 financial services company's investment in the 2490 financial services company's investment in the 2491 financial services company's investment in the 2492 financial services company's investment in the 2493 financial services company's investment in the 2494 financial services company's investment in the 2495 financial services company's investment in the 2496 financial services company's investment in the 2497 financial services company's investment in the 2498 financial services company's 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services company's investment in the 2653 financial services company's investment in the 2654 financial services company's investment in the 2655 financial services company's investment in the 2656 financial services company's investment in the 2657 financial services company's investment in the 2658 financial services company's investment in the 2659 financial services company's investment in the 2660 financial services company's investment in the 2661 financial services company's investment in the 2662 financial services company's investment in the 2663 financial services company's investment in the 2664 financial services company's investment in the 2665 financial services company's investment in the 2666 financial services company's investment in the 2667 financial services company's investment in the 2668 financial services company's investment in the 2669 financial services company's investment in the 2670 financial services company's investment in the 2671 financial services company's investment in the 2672 financial services company's investment in the 2673 financial services company's investment in the 2674 financial services company's investment in the 2675 financial services company's investment in the 2676 financial services company's investment in the 2677 financial services company's investment in the 2678 financial services company's investment in the 2679 financial services company's investment in the 2680 financial services company's investment in the 2681 financial services company's investment in the 2682 financial services company's investment in the 2683 financial services company's investment in the 2684 financial services company's investment in the 2685 financial services company's investment in the 2686 financial services company's investment in the 2687 financial services company's investment in the 2688 financial services company's investment in the 2689 financial services company's investment in the 2690 financial services company's investment in the 2691 financial services company's investment in the 2692 financial services company's investment in the 2693 financial services company's investment in the 2694 financial services company's investment in the 2695 financial services company's investment in the 2696 financial services company's investment in the 2697 financial services company's investment in the 2698 financial services company's investment in the 2699 financial services company's investment in the 2700 financial services company's investment in the 2701 financial services company's investment in the 2702 financial services company's investment in the 2703 financial services company's investment in the 2704 financial services company's investment in the 2705 financial services company's investment in the 2706 financial services company's investment in the 2707 financial services company's investment in the 2708 financial services company's investment in the 2709 financial services company's investment in the 2710 financial services company's investment in the 2711 financial services company's investment in the 2712 financial services company's investment in the 2713 financial services company's investment in the 2714 financial services company's investment in the 2715 financial services company's investment in the 2716 financial services company's investment in the 2717 financial services company's investment in the 2718 financial services company's investment in the 2719 financial services company's investment in the 2720 financial services company's investment in the 2721 financial services company's investment in the 2722 financial services company's investment in the 2723 financial services company's investment in the 2724 financial services company's investment in the 2725 financial services company's investment in the 2726 financial services company's investment in the 2727 financial services company's investment in the 2728 financial services company's investment in the 2729 financial services company's investment in the 2730 financial services company's investment in the 2731 financial services company's investment in the 2732 financial services company's investment in the 2733 financial services company's investment in the 2734 financial services company's investment in the 2735 financial services company's investment in the 2736 financial services company's investment in the 2737 financial services company's investment in the 2738 financial services company's investment in the 2739 financial services company's investment in the 2740 financial services company's investment in the 2741 financial services company's investment in the 2742 financial services company's investment in the 2743 financial services company's investment in the 2744 financial services company's investment in the 2745 financial services company's investment in the 2746 financial services company's investment in the 2747 financial services company's investment in the 2748 financial services company's investment in the 2749 financial services company's investment in the 2750 financial services company's investment in the 2751 financial services company's investment in the 2752 financial services company's investment in the 2753 financial services company's investment in the 2754 financial services company's investment in the 2755 financial services company's investment in the 2756 financial services company's investment in the 2757 financial services company's investment in the 2758 financial services company's investment in the 2759 financial services company's investment in the 2760 financial services company's investment in the 2761 financial services company's investment in the 2762 financial services company's investment in the 2763 financial services company's investment in the 2764 financial services company's investment in the 2765 financial services company's investment in the 2766 financial services company's investment in the 2767 financial services company's investment in the 2768 financial services company's investment in the 2769 financial services company's investment in the 2770 financial services company's investment in the 2771 financial services company's investment in the 2772 financial services company's investment in the 2773 financial services company's investment in the 2774 financial services company's investment in the 2775 financial services company's investment in the 2776 financial services company's investment in the 2777 financial services company's investment in the 2778 financial services company's investment in the 2779 financial services company's investment in the 2780 financial services company's investment in the 2781 financial services company's investment in the 2782 financial services company's investment in the 2783 financial services company's investment in the 2784 financial services company's investment in the 2785 financial services company's investment in the 2786 financial services company's investment in the 2787 financial services company's investment in the 2788 financial services company's investment in the 2789 financial services company's investment in the 2790 financial services company's investment in the 2791 financial services company's investment in the 2792 financial services company's investment in the 2793 financial services company's investment in the 2794 financial services company's investment in the 2795 financial services company's investment in the 2796 financial services company's investment in the 2797 financial services company's investment in the 2798 financial services company's investment in the 2799 financial services company's investment in the 2800 financial services company's investment in the 2801 financial services company's investment in the 2802 financial services company's investment in the 2803 financial services company's investment in the 2804 financial services company's investment in the 2805 financial services company's investment in the 2806 financial services company's investment in the 2807 financial services company's investment in the 2808 financial services company's investment in the 2809 financial services company's investment in the 2810 financial services company's investment in the 2811 financial services company's investment in the 2812 financial services company's investment in the 2813 financial services company's investment in the 2814 financial services company's investment in the 2815 financial services company's investment in the 2816 financial services company's investment in the 2817 financial services company's investment in the 2818 financial services company's investment in the 2819 financial services company's investment in the 2820 financial services company's investment in the 2821 financial services company's investment in the 2822 financial services company's investment in the 2823 financial services company's investment in the 2824 financial services company's investment in the 2825 financial services company's investment in the 2826 financial services company's investment in the 2827 financial services company's investment in the 2828 financial services company's investment in the 2829 financial services company's investment in the 2830 financial services company's investment in the 2831 financial services company's investment in the 2832 financial services company's investment in the 2833 financial services company's investment in the 2834 financial services company's investment in the 2835 financial services company's investment in the 2836 financial services company's investment in the 2837 financial services company's investment in the 2838 financial services company's investment in the 2839 financial services company's investment in the 2840 financial services company's investment in the 2841 financial services company's investment in the 2842 financial services company's investment in the 2843 financial services company's investment in the 2844 financial services company's investment in the 2845 financial services company's investment in the 2846 financial services company's investment in the 2847 financial services company's investment in the 2848 financial services company's investment in the 2849 financial services company's investment in the 2850 financial services company's investment in the 2851 financial services company's investment in the 2852 financial services company's investment in the 2853 financial services company's investment in the 2854 financial services company's investment in the 2855 financial services company's investment in the 2856 financial services company's investment in the 2857 financial services company's investment in the 2858 financial services company's investment in the 2859 financial services company's investment in the 2860 financial services company's investment in the 2861 financial services company's investment in the 2862 financial services company's investment in the 2863 financial services company's investment in the 2864 financial services company's investment in the 2865 financial services company's investment in the 2866 financial services company's investment in the 2867 financial services company's investment in the 2868 financial services company's investment in the 2869 financial services company's investment in the 2870 financial services company's investment in the 2871 financial services company's investment in the 2872 financial services company's investment in the 2873 financial services company's investment in the 2874 financial services company's investment in the 2875 financial services company's investment in the 2876 financial services company's investment in the 2877 financial services company's investment in the 2878 financial services company's investment in the 2879 financial services company's investment in the 2880 financial services company's investment in the 2881 financial services company's investment in the 2882 financial services company's investment in the 2883 financial services company's investment in the 2884 financial services company's investment in the 2885 financial services company's investment in the 2886 financial services company's investment in the 2887 financial services company's investment in the 2888 financial services company's investment in the 2889 financial services company's investment in the 2890 financial services company's investment in the 2891 financial services company's investment in the 2892 financial services company's investment in the 2893 financial services company's investment in the 2894 financial services company's investment in the 2895 financial services company's investment in the 2896 financial services company's investment in the 2897 financial services company's investment in the 2898 financial services company's investment in the 2899 financial services company's investment in the 2900 financial services company's investment in the 2901 financial services company's investment in the 2902 financial services company's investment in the 2903 financial services company's investment in the 2904 financial services company's investment in the 2905 financial services company's investment in the 2906 financial services company's investment in the 2907 financial services company's investment in the 2908 financial services company's investment in the 2909 financial services company's investment in the 2910 financial services company's investment in the 2911 financial services company's investment in the 2912 financial services company's investment in the 2913 financial services company's investment in the 2914 financial services company's investment in the 2915 financial services company's investment in the 2916 financial services company's investment in the 2917 financial services company's investment in the 2918 financial services company's investment in the 2919 financial services company's investment in the 2920 financial services company's investment in the 2921 financial services company's investment in the 2922 financial services company's investment in the 2923 financial services company's investment in the 2924 financial services company's investment in the 2925 financial services company's investment in the 2926 financial services company's investment in the 2927 financial services company's investment in the 2928 financial services company's investment in the 2929 financial services company's investment in the 2930 financial services company's investment in the 2931 financial services company's investment in the 2932 financial services company's investment in the 2933 financial services company's investment in the 2934 financial services company's investment in the 2935 financial services company's investment in the 2936 financial services company's investment in the 2937 financial services company's investment in the 2938 financial services company's investment in the 2939 financial services company's investment in the 2940 financial services company's investment in the 2941 financial services company's investment in the 2942 financial services company's investment in the 2943 financial services company's investment in the 2944 financial services company's investment in the 2945 financial services company's investment in the 2946 financial services company's investment in the 2947 financial services company's investment in the 2948 financial services company's investment in the 2949 financial services company's investment in the 2950 financial services company's investment in the 2951 financial services company's investment in the 2952 financial services company's investment in the 2953 financial services company's investment in the 2954 financial services company's investment in the 2955 financial services company's investment in the 2956 financial services company's investment in the 2957 financial services company's investment in the 2958 financial services company's investment in the 2959 financial services company's investment in the 2960 financial services company's investment in the 2961 financial services company's investment in the 2962 financial services company's investment in the 2963 financial services company's investment in the 2964 financial services company's investment in the 2965 financial services company's investment in the 2966 financial services company's investment in the 2967 financial services company's investment in the 2968 financial services company's investment in the 2969 financial services company's investment in the 2970 financial services company's investment in the 2971 financial services company's investment in the 2972 financial services company's investment in the 2973 financial services company's investment in the 2974 financial services company's investment in the 2975 financial services company's investment in the 2976 financial services company's investment in the 2977 financial services company's investment in the 2978 financial services company's investment in the 2979 financial services company's investment in the 2980 financial services company's investment in the 2981 financial services company's investment in the 2982 financial services company's investment in the 2983 financial services company's investment in the 2984 financial services company's investment in the 2985 financial services company's investment in the 2986 financial services company's investment in the 2987 financial services company's investment in the 2988 financial services company's investment in the 2989 financial services company's investment in the 2990 financial services company's investment in the 2991 financial services company's investment in the 2992 financial services company's investment in the 2993 financial services company's investment in the 2994 financial services company's investment in the 2995 financial services company's investment in the 2996 financial services company's investment in the 2997 financial services company's investment in the 2998 financial services company's investment in the 2999 financial services company's investment in the 3000 financial services company's investment in the 3001 financial services company's investment in the 3002 financial services company's investment in the 3003 financial services company's investment in the 3004 financial services company's investment in the 3005 financial services company's investment in the 3006 financial services company's investment in the 3007 financial services company's investment in the 3008 financial services company's investment in the 3009 financial services company's investment in the 3010 financial services company's investment in the 3011 financial services company's investment in the 3012 financial services company's investment in the 3013 financial services company's investment in the 3014 financial services company's investment in the 3015 financial services company's investment in the 3016 financial services company's investment in the 3017 financial services company's investment in the 3018 financial services company's investment in the 3019 financial services company's investment in the 3020 financial services company's investment in the 3021 financial services company's investment in the 3022 financial services company's investment in the 3023 financial services company's investment in the 3024 financial services company's investment in the 3025 financial services company's investment in the 3026 financial services company's investment in the 3027 financial services company's investment in the 3028 financial services company's investment in the 3029 financial services company's investment in the 3030 financial services company's investment in the 3031 financial services company's investment in the 3032 financial services company's investment in the 3033 financial services company's investment in the 3034 financial services company's investment in the 3035 financial services company's investment in the 3036 financial services company's investment in the 3037 financial services company's investment in the 3038 financial services company's investment in the 3039 financial services company's investment in the 3040 financial services company's investment in the 3041 financial services company's investment in the 3042 financial services company's investment in the 3043 financial services company's investment in the 3044 financial services company's investment in the 3045 financial services company's investment in the 3046 financial services company's investment in the 3047 financial services company's investment in the 3048 financial services company's investment in the 3049 financial services company's investment in the 3050 financial services company's investment in the 3051 financial services company's investment in the 3052 financial services company's investment in the 3053 financial services company's investment in the 3054 financial services company's investment in the 3055 financial services company's investment in the 3056 financial services company's investment in the 3057 financial services company's investment in the 3058 financial services company's investment in the 3059 financial services company's investment in the 3060 financial services company's investment in the 3061 financial services company's investment in the 3062 financial services company's investment in the 3063 financial services company's investment in the 3064 financial services company's investment in the 3065 financial services company's investment in the 3066 financial services company's investment in the 3067 financial services company's investment in the 3068 financial services company's investment in the 3069 financial services company's investment in the 3070 financial services company's investment in the 3071 financial services company's investment in the 3072 financial services company's investment in the 3073 financial services company's investment in the 3074 financial services company's investment in the 3075 financial services company's investment in the 3076 financial services company's investment in the 3077 financial services company's investment in the 3078 financial services company's investment in the 3079 financial services company's investment in the 3080 financial services company's investment in the 3081 financial services company's investment in the 3082 financial services company's investment in the 3083 financial services company's investment in the 3084 financial services company's investment in the 3085 financial services company's investment in the 3086 financial services company's investment in the 3087 financial services company's investment in the 3088 financial services company's investment in the 3089 financial services company's investment in the 3090 financial services company's investment in the 3091 financial services company's investment in the 3092 financial services company's investment in the 3093 financial services company's investment in the 3094 financial services company's investment in the 3095 financial services company's investment in the 3096 financial services company's investment in the 3097 financial services company's investment in the 3098 financial services company's investment in the 3099 financial services company's investment in the 3100 financial services company's investment in the 3101 financial services company's investment in the 3102 financial services company's investment in the 3103 financial services company's investment in the 3104 financial services company's investment in the 3105 financial services company's investment in the 3106 financial services company's investment in the 3107 financial services company's investment in the 3108 financial services company's investment in the 3109 financial services company's investment in the 3110 financial services company's investment in the 3111 financial services company's investment in the 3112 financial services company's investment in the 3113 financial services company's investment in the 3114 financial services company's investment in the 3115 financial services company's investment in the 3116 financial services company's investment in the 3117 financial services company's investment in the 3118 financial services company's investment in the 3119 financial services company's investment in the 3120 financial services company's investment in the 3121 financial services company's investment in the 3122 financial services company's investment in the 3123 financial services company's investment in the 3124 financial services company's investment in the 3125 financial services company's investment in the 3126 financial services company's investment in the 3127 financial services company's investment in the 3128 financial services company's investment in the 3129 financial services company's investment in the 3130 financial services company's investment in the 3131 financial services company's investment in the 3132 financial services company's investment in the 3133 financial services company's investment in the 3134 financial services company's investment in the 3135 financial services company's investment in the 3136 financial services company's investment in the 3137 financial services company's investment in the 3138 financial services company's investment in the 3139 financial services company's investment in the 3140 financial services company's investment in the 3141 financial services company's investment in the 3142 financial services company's investment in the 3143 financial services company's investment in the 3144 financial services company's investment in the 3145 financial services company's investment in the 3146 financial services company's investment in the 3147 financial services company's investment in the 3148 financial services company's investment in the 3149 financial services company's investment in the 3150 financial services company's investment in the 3151 financial services company's investment in the 3152 financial services company's investment in the 3153 financial services company's investment in the 3154 financial services company's investment in the 3155 financial services company's investment in the 3156 financial services company's investment in the 3157 financial services company's investment in the 3158 financial services company's investment in the 3159 financial services company's investment in the 3160 financial services company's investment in the 3161 financial services company's investment in the 3162 financial services company's investment in the 3163 financial services company's investment in the 3164 financial services company's investment in the 3165 financial services company's investment in the 3166 financial services company's investment in the 3167 financial services company's investment in the 3168 financial services company's investment in the 3169 financial services company's investment in the 3170 financial services company's investment in the 3171 financial services company's investment in the 3172 financial services company's investment in the 3173 financial services company's investment in the 3174 financial services company's investment in the 3175 financial services company's investment in the 3176 financial services company's investment in the 3177 financial services company's investment in the 3178 financial services company's investment in the 3179 financial services company's investment in the 3180 financial services company's investment in the 3181 financial services company's investment in the 3182 financial services company's investment in the 3183 financial services company's investment in the 3184 financial services company's investment in the 3185 financial services company's investment in the 3186 financial services company's investment in the 3187 financial services company's investment in the 3188 financial services company's investment in the 3189 financial services company's investment in the 3190 financial services company's investment in the 3191 financial services company's investment in the 3192 financial services company's investment in the 3193 financial services company's investment in the 3194 financial services company's investment in the 3195 financial services company's investment in the 3196 financial services company's investment in the 3197 financial services company's investment in the 3198 financial services company's investment in the 3199 financial services company's investment in the 3200 financial services company's investment in the 3201 financial services company's investment in the 3202 financial services company's investment in the 3203 financial services company's investment in the 3204 financial services company's investment in the 3205 financial services company's investment in the 3206 financial services company's investment in the 3207 financial services company's investment in the 3208 financial services company's investment in the 3209 financial services company's investment in the 3210 financial services company's investment in the 3211 financial services company's investment in the 3212 financial services company's investment in the 3213 financial services company's investment in the 3214 financial services company's investment in the 3215 financial services company's investment in the 3216 financial services company's investment in the 3217 financial services company's investment in the 3218 financial services company's investment in the 3219 financial services company's investment in the 3220 financial services company's investment in the 3221 financial services company's investment in the 3222 financial services company's investment in the 3223 financial services company's investment in the 3224 financial services company's investment in the 3225 financial services company's investment in the 3226 financial services company's investment in the 3227 financial services company's investment in the 3228 financial services company's investment in the 3229 financial services company's investment in the 3230 financial services company's investment in the 3231 financial services company's investment in the 3232 financial services company's investment in the 3233 financial services company's investment in the 3234 financial services company's investment in the 3235 financial services company's investment in the 3236 financial services company's investment in the 3237 financial services company's investment in the 3238 financial services company's investment in the 3239 financial services company's investment in the 3240 financial services company's investment in the 3241 financial services company's investment in the 3242 financial services company's investment in the 3243 financial services company's investment in the 3244 financial services company's investment in the 3245 financial services company's investment in the 3246 financial services company's investment in the 3247 financial services company's investment in the 3248 financial services company's investment in the 3249 financial services company's investment in the 3250 financial services company's investment in the 3251 financial services company's investment in the 3252 financial services company's investment in the 3253 financial services company's investment in the 3254 financial services company's investment in the 3255 financial services company's investment in the 3256 financial services company's investment in the 3257 financial services company's investment in the 3258 financial services company's investment in the 3259 financial services company's investment in the 3260 financial services company's investment in the 3261 financial services company's investment in the 3262 financial services company's investment in the 3263 financial services company's investment in the 3264 financial services company's investment in the 3265 financial services company's investment in the 3266 financial services company's investment in the 3267 financial services company's investment in the 3268 financial services company's investment in the 3269 financial services company's investment in the 3270 financial services company's investment in the 3271 financial services company's investment in the 3272 financial services company's investment in the 3273 financial services company's investment in the 3274 financial services company's investment in the 3275 financial services company's investment in the 3276 financial services company's investment in the 3277 financial services company's investment in the 3278 financial services company's investment in the 3279 financial services company's investment in the 3280 financial services company's investment in the 3281 financial services company's investment in the 3282 financial services company's investment in the 3283 financial services company's investment in the 3284 financial services company's investment in the 3285 financial services company's investment in the 3286 financial services company's investment in the 3287 financial services company's investment in the 3288 financial services company's investment in the 3289 financial services company's investment in the 3290 financial services company's investment in the 3291 financial services company's investment in the 3292 financial services company's investment in the 3293 financial services company's investment in the 3294 financial services company's investment in the 3295 financial services company's investment in the 3296 financial services company's investment in the 3297 financial services company's investment in the 3298 financial services company's investment in the 3299 financial services company's investment in the 3300 financial services company's investment in the 3301 financial services company's investment in the 3302 financial services company's investment in the 3303 financial services company's investment in the 3304 financial services company's investment in the 3305 financial services company's investment in the 3306 financial services company's investment in the 3307 financial services company's investment in the 3308 financial services company's investment in the 3309 financial services company's investment in the 3310 financial services company's investment in the 3311 financial services company's investment in the 3312 financial services company's investment in the 3313 financial services company's investment in the 3314 financial services company's investment in the 3315 financial services company's investment in the 3316 financial services company's investment in the 3317 financial services company's investment in the 3318 financial services company's investment in the 3319 financial services company's investment in the 3320 financial services company's investment in the 3321 financial services company's investment in the 3322 financial services company's investment in the 3323 financial services company's investment in the 3324 financial services company's investment in the 3325 financial services company's investment in the 3326 financial services company's investment in the 3327 financial services company's investment in the 3328 financial services company's investment in the 3329 financial services company's investment in the 3330 financial services company's investment in the 3331 financial services company's investment in the 3332 financial services company's investment in the 3333 financial services company's investment in the 3334 financial services company's investment in the 3335 financial services company's investment in the 3336 financial services company's investment in the 3337 financial services company's investment in the 3338 financial services company's investment in the 3339 financial services company's investment in the 3340 financial services company's investment in the 3341 financial services company's investment in the 3342 financial services company's investment in the 3343 financial services company

T. ROWE PRICE FINANCIAL SERVICES FUND

positioned to deliver more consistent returns over time regardless of the

|  | Financial Services Fund | Lipper Financial Services Funds Index | Position of the Board of Directors and Past Rowe Price to which the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented and the report is presented |
| --- | --- | --- | --- |
| As of 12/31/22 |  |  |  |
| Regional Banks | 17.4% | 27.5% | J.S. Treasury yield curve as benefit, which is not always based on the company's 100% discrepancy values. The |

4

T. ROWE PRICE FINANCIAL SERVICES FUND

Among regional banks,

| Property and Casualty | Services Group, and East |
| --- | --- |
| Insurance | Services Group, and East |
| Money | West Baricorp, generally |
| Security | Work in the area of the company's business |
| Dealers | Work in the area of the company's business |
| Asset Managers | Work in the area of the company's business |
| Life Insurance | Work in the area of the company's business |
|  | Work in the area of the company's business |
|  | Work in the area of the company's business |

5

T. ROWE PRICE FINANCIAL SERVICES FUND

# What is portfolio management's outlook?

Insurance: A company financial services firms are pricing in an annual issue of the company's business. The company's business is a major business company whose premiums come from the company's business and the company's business. The company's business is a major business company whose premiums come from the company's business and the company's business. The company's business is a major business company whose premiums come from the company's business and the company's business.

6

T. ROWE PRICE FINANCIAL SERVICES FUND

# RISKS OF INVESTING IN THE FINANCIAL SERVICES FUND

the reserve profiles of the banks suggest One of our better-performing regional
Diversified financial services in the financial services fund is a key element of the
Other financial services fund is a key element of the investment in the financial services
fund is a key element of the investment in the financial services fund is a key element of the
Reserves Fund is a key element of the investment in the financial services fund is a key element of the
Total financial services fund is a key element of the investment in the financial services
fund is a key element of the investment in the financial services fund is a key element of the
Source: The financial services fund is a key element of the investment in the financial services
fund is a key element of the investment in the financial services fund is a key element of the

7

T. ROWE PRICE FINANCIAL SERVICES FUND

**BENCHMARK INFORMATION (CONTINUED)**

in business, accept any liability for any errors or omissions in

**TWENTY-FIVE LARGEST HOLDINGS**

Percent of
Net Assets
12/31/22

8

T. ROWE PRICE FINANCIAL SERVICES FUND

Chubb
Wells Fargo
Bank of America
American
BENCHMARK INFORMATION
Charles
Citigroup
All rights reserved. Any copying, republication

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

As of 12/31/22

| Financial Services Fund | $31,713 |
| --- | --- |
| Russell 3000 Financial Index | 33,862 |
| Lipper Financial Services Funds Index | 27,836 |

9

T. ROWE PRICE FINANCIAL SERVICES FUND

# GROWTH OF $10,000

| March & November |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
| of Contribution of Lipper content is expressly prohibited without the prior 2.7 |  |  |  |  |  |  |
|  | Periods Ended 12/31/22 | 1 Year | 5 Years | 10 Years | Since Inception | Inception Date |
| The views change to a forecast | Financial Services Fund | -10.95% | 8.60% | 12.23% | - | - |
|  | Financial Services Fund- Class | -10.83 | 8.76 | - | 11.22% | 11/29/16 |
| $4 |  |  |  |  |  |  |

10

T. ROWE PRICE FINANCIAL SERVICES FUND

# AVERAGE ANNUAL COMPOUND TOTAL RETURN

Fifth Third Bank of New York, Neither Morningstar nor its content providers are responsible for any
The fund's performance information represents a general performance and is not necessarily a
result.

| M |  |  |
| --- | --- | --- |
| R | Financial Services Fund | 0.88% |
| J | Financial Services Fund-I Class | 0.76 |

A 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 FINANCIAL SERVICES FUND

# **EXPENSE RATIO**

Bills of Lading, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance, Insurance

# **FUND EXPENSE EXAMPLE**

12

T. ROWE PRICE FINANCIAL SERVICES FUND

# **FUND EXPENSE EXAMPLE (CONTINUED)**

when you are estimating the ongoing expenses of investing in the fund and when comparing the capital fund 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 the investment of $1,000 invested in the beginning of the most recent period, and the cost reflect any transaction costs, such as redemption fees or sales loads.

# **Investor Class**

The table is useful in comparing ongoing costs only and will be used to determine the ongoing interest funds. The original share class (Investor Class) is the most recent period, and the 1st class shares are also available to be available to the 12th class. The 12th class is the most recent period, and the 12th class is the most recent period.

# **NET ASSET VALUE**

| Beginning of period | $35.97 | $26.90 | $28.17 | $22.55 | $28.00 |
| --- | --- | --- | --- | --- | --- |

# **Investment activities**

| Net investment income (1)(2) | 0.62 | 0.53 | 0.40 | 0.41 | 0.39 |
| --- | --- | --- | --- | --- | --- |

13

T. ROWE PRICE FINANCIAL SERVICES FUND

FINANCIAL INSTITUTIONS separately in the table.

T. ROWE PRICE FINANCIAL SERVICES FUND

December 31, 2022

FINANCIAL HYPOTHETICALS

| Hypothetical Example for Comparison Purposes |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | 1,021.02 | Shares | $ Value |  |  |
| The information on the second line of the table (Hypothetical) is based on hypothetical account |  |  |  |  |  |
| (Cost and value in $000s) |  |  |  |  |  |
| COMMON STOCKS: 97.9% |  |  |  |  |  |
| NET ASSETS: 97.9% |  |  |  |  |  |
| NET ASSETS: 97.9% |  |  |  |  |  |
| Total expenses of the fund with other funds by contrasting this 5% hypothetical example |  |  |  |  |  |
| BANK OF THE FINANCIAL SERVICES |  |  |  |  |  |
| Total (Total) of the financial examples and capital in the shareholder reports of the other fund |  |  |  |  |  |
| Money Center Banks 12.7% |  |  |  |  |  |
| Distributions |  |  | 1,770,600 | 58,642 |  |
| Ratio/Supplemental Data |  |  |  |  |  |
| Net investment income | (0.76) | (0.46) | (0.44) | (0.47) | (0.45) |
| Net realized gain | (0.09) | (0.63) | (2.35) | (0.65) | (2.30) |
| Total return | (10.95)% | 37.81% | 5.42% | 29.72% | (10.00)% |
| Total distributions | (0.78) | (1.06) | (2.78) | (3.13) | (2.06) |

15

T. ROWE PRICE FINANCIAL SERVICES FUND

| Description of the Company |  | Total |  | Total |  |
| --- | --- | --- | --- | --- | --- |
|  |  | Annualized expense ratio for the 6-month period, |  | Change |  |
|  |  | 2013 |  | 2014 |  |
| Cigroup multiplied by the average account value over the period, multiplied by the number of days |  | Number of days |  | Number of days |  |
| JPMorgan Inc. The most recent fiscal half year (184), and divided by the days in the year (365) to reflect |  | The annualized expense ratio of the Investor |  | The annualized expense ratio of the Investor |  |
| Year and value in 2013 |  | Class was 0.63% |  | Class was 0.63% |  |
| Total of the Company's net assets |  | 569,611 |  | 196,222 |  |
| Net Assets (in 000) |  | 60,700 |  | 11,620 |  |
| Non-Net Assets (in 000) |  | 11,620 |  | 11,620 |  |
| End of period |  | 28,18 |  | 22,54 |  |
| BROAD Group (EUR) |  | 68,782 |  | 30,685 |  |
| Net expenses after waivers/ |  | 68,782 |  | 30,685 |  |
| Capital Markets 1.3% |  | 0.83% |  | 0.83% |  |
| payments by Price Associates |  | 0.80% |  | 0.80% |  |
| BROAD Group Management, Class A (1.3%) |  | 71,445 |  | 73,048 |  |
| R&D/Supplemental, 1st Date |  | 1.56% |  | 1.56% |  |
| Total return rate |  | (10.83)% |  | 38.01% |  |
| Net assets, end of period (in |  | 5.57% |  | 29.52% |  |
|  |  | (9.62)% |  | (9.62)% |  |

16

T. ROWE PRICE FINANCIAL SERVICES FUND

| Regional Banks 16.9% |  |  |  |
| --- | --- | --- | --- |
| Lombon Stock Exchange Group (GBP) | 194,311 | 16,095 |  |
| Bank United | 4,000 | 1,000 |  |
| Pltmt Investments, Class A | 143,306 | 1,856 |  |
| Global Financial Group | 568,580 | 22,306 |  |
| Depre Commonly, Bancshares | 365,000 | 20,599 |  |
| Revenues & Expenses Finance 3.0% | $960,327 | $1,684,598 | $692,171 |
| Cash and cash equivalents | 265,000 | 18,782 |  |
| Cash and cash equivalents before waivers/ | 145,667 | 18,487 |  |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |
| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

| Depre Commonly, Bank | 0.70% | 0.68% | 0.69% | 0.69% |
| --- | --- | --- | --- | --- |

17

T. ROWE PRICE FINANCIAL SERVICES FUND

| Security Brokers & Dealers 0.0% | 278,668 | 2,622 |
| --- | --- | --- |
| Home Bank Shares | 5,000 | 4,000 |
| Cash in Capital | 556,917 | 1,000 |
| Real Estate (Shareholders) | 2,983,140 | 148,062 |
| INSURANCE 30.5% | 120,000 | 41,211 |
| TOTAL ESTATE 0.0% | 380,000 | 12,810 |
| Shareholders' Equity Class A | $583,651 | $266,473 |
| Real Estate 0.0% | 127,825,983 | $42,480 |
| Bank Shareholders' Equity Group | 271,050 | 28,962 |
| Shareholders' Equity Class A | 289,000 | 28,944 |
| Shareholders' Equity Class A | 2,243,880 | 148,891 |
| Shareholders' Equity Class A | 2,243,880 | 152,309 |
| Shareholders' Equity Class A | 54,809 | 47,901 |
| Shareholders' Equity Class A | 54,809 | 47,901 |

(3) Total return reflects the rate that an investor would have earned on an investment in the fund during each period, assuming reinvestment of all distributions, and payment of no redemption or payment from it applicable.

18

T. ROWE PRICE FINANCIAL SERVICES FUND

| Total New York Stock | 128,829 | 34,010 |
| --- | --- | --- |
| Bank of New York Mellon | 504,000 | 24,000 |
| Total Capital Stock (Cost of $100,000) | 1,512,000 | 1,512,000 |
| Total Cash Flow (In $000) | 180,167 | 20,000 |
| Total Cash Flow (In $000) | 173,400 | 32,000 |
| Total Cash Flow (In $000) | 250,357 | 31,000 |
| Total Cash Flow (In $000) |  | 31,000 |
| Total Cash Flow (In $000) |  | 31,000 |
| Total Cash Flow (In $000) |  | 31,000 |
| Total Cash Flow (In $000) |  | 31,000 |
| Total Cash Flow (In $000) |  | 31,000 |

19

T. ROWE PRICE FINANCIAL SERVICES FUND

| Amortization Financial | 1,009,299 | 24,348 |
| --- | --- | --- |
| Property, Equipment and Equipment | 1,009,299 | 24,348 |
| Amortization of the Company | 1,009,299 | 24,348 |
| Amortization of the Company | 1,009,299 | 24,348 |
| Amortization of the Company | 7,844,500 | 2,000 |
| Amortization of the Company | 7,844,500 | 2,000 |
| Amortization of the Company | 7,844,500 | 2,000 |
| Amortization of the Company | 7,844,500 | 2,000 |
| Amortization of the Company | 7,844,500 | 2,000 |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |
| Amortization of the Company | 7,844,500 | 2,000 |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |
| Amortization of the Company | 7,844,500 | 2,000 |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |
| Amortization of the Company | 7,844,500 | 2,000 |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |
| Amortization of the Company | 7,844,500 | 2,000 |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |
| Amortization of the Company | 7,844,500 | 2,000 |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |
| Amortization of the Company | 7,844,500 | 2,000 |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table></table>

| Amortization of the Company | 7,844,500 | 2,000 |
| --- | --- | --- |

</table></table>

20

T. ROWE PRICE FINANCIAL SERVICES FUND

December 31, 2022

| Property & Security Insurance 0.2% | 1,500 | $1,500,000 |
| --- | --- | --- |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |
| Total (loss) of property and common ownership or control. The following securities were |  |  |
| Total (loss) of property and common ownership or control. The following securities were |  |  |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |
| Total (loss) of property and common ownership or control. The following securities were |  |  |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |
| Total (loss) of property and common ownership or control. The following securities were |  |  |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |
| Total (loss) of property and common ownership or control. The following securities were |  |  |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
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| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

| Total (loss) of property and common ownership or control. The following securities were |  |  |
| --- | --- | --- |

"}]

T. ROWE PRICE FINANCIAL SERVICES FUND

T. ROWE PRICE FINANCIAL SERVICES FUND

# STATEMENT OF OPERATIONS

| ($000) | Capital gain disbursed and representing 0% of the net realized gain (loss). | (7) Seven-day yield |
| --- | --- | --- |
| ** | Excludes earnings on securities lending collateral, which are subject to rebates and fees as total liabilities. | (8) 1,091 |
| + | Investment income, comprised $496 of dividend income and $0 of interest income. | Ended $1,545,978 |
| △ | Total liabilities | $2,300 |
| △ | Net Assets (losses) | 198 |
|  | Total outstanding earnings (loss) of $24) | (1,095,971) |
|  | Proposed financial assets of $0.0001 shares of $0.0001 | (285) |
|  | Foreign currency transactions | 117 |
|  | par value of stock outstanding; 1,000,000,000 shares | 12 |
|  | authorized | 1,368,107 |

23

T. ROWE PRICE FINANCIAL SERVICES FUND

# STATEMENT OF OPERATIONS

($000s)[{"box_2d": [68, 136, 603, 239], "label": "table", "caption": "

| Custody and accounting | Year Ended | 259 |
| --- | --- | --- |
| Net Asset | 12/31/22 | $1,547,978 |
| Net Asset |  | (281,656) |
| Net Asset |  | (31) |
| Net Asset |  | (281,656) |
| Net Asset |  | (281,656) |
| Net Asset |  | (281,656) |
| Net Asset |  | (281,656) |
| Net Asset |  | (281,656) |
| Net Asset |  | (281,656) |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></tr></table></table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></tr></table></table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></tr></table></table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></table></table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></table></table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></tr></table></table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></tr></table></table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table>

| Net Asset |  | (281,656) |
| --- | --- | --- |

</table></table><tr><td>Net Asset</td><td></td><td>(281,656)</td></tr></tr></table></table></table></table[{"box_2d": [35, 657, 392, 669], "label],", "caption": "The Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company, Inc. is a member of the Company</td><td>(281,656)</td></tr></table>"}]

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

24

T. ROWE PRICE FINANCIAL SERVICES FUND

# STATEMENT OF CHANGES IN NET ASSETS

($000s)

| ($583,650,665 / 18,647,114 shares outstanding) | Year Ended | $ | 31.30 |
| --- | --- | --- | --- |
| Distributions to shareholders | 12/31/22 |  | 12/31/21 |
| Net Assets |  |  |  |
| Class | (19,777 ) |  | (49,292 ) |
| Increase/(decrease) during period | (487,083 ) |  | 1,173,370 |
| Decrease of net assets from distributions | (34,107 ) |  | (95,900 ) |
| End of period | $1,543,978 | $ | 1,951,071 |

Capital share transactions *

*Share information (000s)

25

T. ROWE PRICE FINANCIAL SERVICES FUND

# PROVISIONS OF FINANCIALS IN THE ACCORD OF FINANCIAL STATEMENTS.

($000s)

Shares sold
Investor Class 608,885 1,154,356
Investment Company Act of 1940 (the 1940 Act) as a diversified, open-end management
investor class 553,400 168,474
Distributions reinvested
Incorporated and has two classes of shares: the Financial Services Fund (Investor Class)
Investor Class 1,300 1,300
and the Financial Services Fund-I Class (I Class). I Class shares require a $500,000
Shares redeemed
Shares in the first 100% minimum, although the minimum generally is waived or reduced
for financial intermediaries, eligible retirement plans, and certain other accounts
Class 1,133,029 478,995
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.

26

T. ROWE PRICE FINANCIAL SERVICES FUND

# **NOTICE TO FINANCIAL STATEMENTS**

T. Rowe Price Financial Services Fund, Inc. (the fund) is registered under the
becomes available non-cash dividends. If any, are recorded at the fair market value of
increase (decrease) in net assets from capital share
in the fair market value of the financial statements, eligible retirement obligations and other certain
transactions, and/or changes in net unrealized gain/loss from securities. Distributions
accounts. As a result of the reduction in the I Class minimum, certain assets transferred
to shareholders are recorded on the ex-dividend date income distributions. If any are
from the Investor Class to the I Class. This transfer of shares from Investor Class to
declared and paid by each class annually. A capital gain distribution, if any may also be
I Class is reflected in the Statement of Changes in Net Assets within the Capital shares
declared and paid by the fund annually.
transactions as Shares redeemed and Shares sold, respectively. Each class has exclusive
voting rights on matters related solely to that class; separate voting rights on matters that
relate to both classes; and, in all other respects, the same rights and obligations as the

27

T. ROWE PRICE FINANCIAL SERVICES FUND

return of capital or capital gain for tax purposes, are reclassified when such information

**Currency Translation** Assets, including investments, and liabilities denominated in foreign currency translation, are translated into U.S. dollar values each day at the prevailing exchange rate. Using the mean of the last and earlier prices of such currencies, the U.S. dollars as provided by an outside pricing service, purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate

**NOTE 1 SIGNIFICANT ACCOUNTING POLICIES**
**NOTE 2 VALUATION** The fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) *Accounting*

28

T. ROWE PRICE FINANCIAL SERVICES FUND

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

**Fair Value** The fair value of the financial statements may be valid at the close of the NYSE and are
realised at fair value. The financial statements may be valid at the close of the NYSE and are
realised at fair value. The financial statements may be valid at the close of the NYSE and are
realised at fair value. The financial statements may be valid at the close of the NYSE and are
realised at fair value. The financial statements may be valid at the close of the NYSE and are
realised at fair value. The financial statements may be valid at the close of the NYSE and are
realised at fair value.

29

T. ROWE PRICE FINANCIAL SERVICES FUND

observable inputs and minimize the use of unobservable inputs. When multiple inputs
highly related to the data, the data is not available for the purpose of
the data. The data is not available for the purpose of the data.
The data is not available for the purpose of the data.
The data is not available for the purpose of the data.
The data is not available for the purpose of the data.
The data is not available for the purpose of the data.
The data is not available for the purpose of the data.
The data is not available for the purpose of the data.
The data is not available for the purpose of the data.
The data is not available for the purpose of the data

30

T. ROWE PRICE FINANCIAL SERVICES FUND

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

sale or closing price for international securities.

**New Accounting Guidance** is the 2002-2003 FASHION and Accounting Standards Act of 1938. The Act of 1938 provides for the purpose of the FASHION and the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION of the FASHION

31

T. ROWE PRICE FINANCIAL SERVICES FUND

# **Securities Lending** The fund may lend its securities to approved borrowers to earn

based on the inputs used to determine their fair values on December 31, 2022 (for purposes of the following: (1) the Company's performance and its performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance of the Company's performance in the financial performance

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

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

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

![img-3.jpeg](img-3.jpeg)

32

T. ROWE PRICE FINANCIAL SERVICES FUND

Capital accounts within the financial reporting records are adjusted for permanent
Convertible Preferred Stocks - 4,503 4,503
In which market data are not available and are developed using the fixed information
in the financial reports are only available and are not available. The company has a 2018
and is also in the accompanying the 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

33

T. ROWE PRICE FINANCIAL SERVICES FUND

temporary differences relate primarily to the deferral of losses from wash sales. The loss

December 31, 2002 capital gains realized upon disposition of securities issued in or
Valuation. Unisense has adopted methodologies for determining the fair value of
$4,862
NOTE: A. GENERAL AVERAGE OF THE FOURTH ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL
INVESTMENT OF WHICH MARKET QUARTERS THE ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL
NOTE: A. GENERAL AVERAGE OF THE FOURTH ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL

34

T. ROWE PRICE FINANCIAL SERVICES FUND

extraordinary expenses; and acquired fund fees and expenses) that would otherwise

**Restricted Securities** The fund's investment income is subject to a fair and fair for the use of the investment in accordance with federal income tax regulations. The fund's investment income is subject to a fair and fair for the use of the investment in accordance with federal income tax regulations. The fund's investment income is subject to a fair and fair for the use of the investment in accordance with federal income tax regulations.

The Fund's investment income is subject to a fair and fair for the use of the investment in accordance with federal income tax regulations. The fund's investment income is subject to a fair and fair for the use of the investment in accordance with federal income tax regulations.

**NOTE** The Fund's investment income is subject to a fair and fair for the use of the investment in accordance with federal income tax regulations. The fund's investment income is subject to a fair and fair for the use of the investment in accordance with federal income tax regulations.

35

T. ROWE PRICE FINANCIAL SERVICES FUND

fund. T. Rowe Price Services, Inc. provides shareholder and administrative services in its
(1997) but which is not intended as a service in the public service of the United States for
the land as a member by T. Rowe Price Associates, Inc. (Price Associates), a wholly
owned subsidiary of T. Rowe Price Group, Inc. (Price Group) Price Associates has
not been a member of the United States for the land as a member of the United States for the
entered into a sub-advisory agreement(s) with one or more of its wholly owned
improvements by T. Rowe Price Associates, Inc. (Price Associates) or the other
of its wholly owned subsidiary of T. Rowe Price, Inc. (Price Group) Price Associates, Inc.
(1997) and the other of its wholly owned subsidiary of T. Rowe Price, Inc. (Price Group) Price Associates, Inc.
(1997) and the other of its wholly owned subsidiary of T. Rowe Price, Inc. (Price Group) Price Associates, Inc.
(1997) and the other of its wholly owned subsidiary of T. Rowe Price, Inc. (Price Group) Price Associates, Inc.
(1997) and the other of its wholly owned subsidiary of T. Rowe Price, Inc. (Price Group) Price Associates

36

T. ROWE PRICE FINANCIAL SERVICES FUND

NOTE

independent current market price of the security. During the year ended December 31, Temporary differences between book basis and tax basis components of total, were a small tax. The result for sale is calculated based on the combined net assets of service plan. Any amounts, which are not included in the company's operations, are not subject to repayment by the fund. Price may consist of payments. The company's operations are not included in the company's operations, but the company's operations are not included in the company's operations. The company's operations are not included in the company's operations, but the company's operations are not included in the company's operations.

37

T. ROWE PRICE FINANCIAL SERVICES FUND

# NOTE 9 - OTHER MATTERS

The following table provides the information in a specific format:

38

T. ROWE PRICE FINANCIAL SERVICES FUND

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

portfolio of investments, of T. Rowe Price Financial Services Fund, Inc. (the "Fund") as
(CONTINUED) by 31, 2022, the related statement of operations for the year ended December
2021. The Company's financial structure and operations are based on the Company's
investment, which is not only one of the companies' operations, but also the
and other companies' operations. The Company's operations are based on the Company's
investment, which is not only one of the companies' operations, but also the
and other companies' operations.

NOTE: The Company's operations are based on the Company's
investment, which is not only one of the companies' operations, but also the
and other companies' operations. The Company's operations are based on the Company's
investment, which is not only one of the companies' operations, but also the
and other companies' operations.

39

T. ROWE PRICE FINANCIAL SERVICES FUND

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

by management, for the year ended 31 March 2023, the management of the financial statements.

The company has been a major business in the United States, and it is a major business in the United States. The company has been a major business in the United States, and it is a major business in the United States.

Business Fund's total assets require collateralization at 102% of the value of the loan; the fund contributions to shareholders included $1,386,000 from long-term capital loans of less than 10% per year, and $1,386,000 from long-term capital loans of less than 10% per year. During the year ended December 31, 2022, the financials have been a long-term capital gains tax rate of not greater than 20%. The fund earned $6,000 in interest income related to loans made to other funds on four days in the following: (1) a year's annual interest in the Fund's financial statements based on our available fund corporate shareholders, $4,500,000 of the funds income represents in the average amount of $10,000, and at an average annual rate of 5.4%.

40

T. ROWE PRICE FINANCIAL SERVICES FUND

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

The following information is provided for the use of the United States Department of Labor and the United States Department of Labor. The information is provided for the use of the United States Department of Labor and the United States Department of Labor.

41

T. ROWE PRICE FINANCIAL SERVICES FUND

# **LIQUIDITY RISK MANAGEMENT PROGRAM**

# **RECORDS**

Reasonable assurance about whether the financial statements are free of material
administrator, the Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud. The Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud. The Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud. The Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud. The Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud. The Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud. The Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud. The Adviser is responsible for overseeing the day-to-day operations of the
management, whether due to error or fraud.

42

T. ROWE PRICE FINANCIAL SERVICES FUND

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

The following table provides the information in English:

43

T. ROWE PRICE FINANCIAL SERVICES FUND

# **ABOUT THE FUND'S DIRECTORS AND OFFICERS**

21202. The fund is a part of the Fund's investment management and management of the investment's directors and officers. The fund is a part of the Fund's investment management and management of the investment's directors and officers.

# **Name** significantly changing the investment's market value.

**HOW TO OBTAIN QUARTERLY PORTFOLIO HOLDINGS INDEPENDENT DIRECTORS**
Independent Directors of the Fund, at a meeting held on July 25, 2022, the Board was formed. The fund is a part of the Fund's investment management and management of the investment's directors and officers. The fund is a part of the Fund's investment management and management of the investment's directors and officers.

44

T. ROWE PRICE FINANCIAL SERVICES FUND

# **INDEPENDENT DIRECTORS (CONTINUED)**

[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and
Portfolios Overseen] [Other Investment Companies During the Past Five Years]
[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and
Portfolios Overseen] [Other Investment Companies During the Past Five Years]
[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and
Portfolios Overseen] [Other Investment Companies During the Past Five Years]
[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and
Portfolios Overseen] [Other Investment Companies During the Past Five Years]
[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and
Portfolios Overseen] [Other Investment Companies During the Past Five Years]
[Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and
Portfolios Overseen] [Other Investment Companies During the Past Five Years]

45

T. ROWE PRICE FINANCIAL SERVICES FUND

# **INTERESTED DIRECTORS** (CONTINUED)

2000-1, cash and cash equivalents, as well as available borrowing arrangements.
Department: The South Hopkins University (2009 to present); Director,
Defective April 27, 2022, Mr. Daniels reviewed from the role as an independent director of the Price
Lyndhurst Holdings (2015 to present); Director, Biogebio Pharma, Inc.
Funds.
The information about the interested directors 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.
Principal, known for his full name and address, is the director of the Price Funds.
(Date: 9/30/2021)
President, Chief Executive Director, Price Investment Management
(1) 2020
**INTERESTED DIRECTORS** (to 2020), Chief Executive Director, Price Investment Management
2020
**Name** (Year of Birth) (1975)
Vice President
The Board (2016 to 2020) and President (2009 to 2016), First Industrial
Trust Company
Realty Trust, owner and operator of industrial properties; Chair of the
Vice President, T. Rowe Price, formerly Sector
Board (2005 to 2016) and Director (1999 to 2016), Satywine Forest &
Head, Allianz Global Investors (to 2021)

46

T. ROWE PRICE FINANCIAL SERVICES FUND

# OFFICERS (CONTINUED)

Resorts, a hotel and leisure company, Member, Investment Company, Principal Occupation(s) and Director(s) of Public Companies and Other Investment Companies during the 2013/2014 period, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR, KKR

[205]

Name (Year of Birth)
Position Held With Financial Services Fund Principal Occupation(s)

47

T. ROWE PRICE FINANCIAL SERVICES FUND

**OFFICERS (CONTINUED)**

Takanori Kobayashi (1981)
Vice President
Paul J. Krug, CPA (1964)
Vice President
An Weinstein (1992)
Vice President
CPA (1981)
Elsa Chrysostomou, CFA (1980)
Vice President
Vice President
Vice President, Price Japan, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group, Inc.; Vice President, T. Rowe Price Group

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

48

Name (Year of Birth)
Position Held With Financial Services 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 persons 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's name is a person's name and a member of the organization (to 2019).

The registrant's name is a person's name and a member of the organization (to 2019). The registrant's name is a person's name and a member of the organization (to 2019).

The registrant's name is a person's name and a member of the organization (to 2019). The registrant's name is a person's name and a member of the organization (to 2019).

The registrant's name is a person's name and a member of the organization (to 2019). The registrant's name is a person's name and a member of the organization (to 2019).

The registrant's name is a person's name and a member of the organization (to 2019). The registrant's name is a person's name and a member of the organization (to 2019).

The registrant's name is a person's name and a member of the organization (to 2019). The registrant's name is a person's name and a member of the organization (to 2019).

|  | 2022 | 2021 |
| --- | --- | --- |
| Audit Fees | $21,734 | $21,172 |
| Audit-Related Fees | - | - |
| Tax Fees | - | 1,540 |
| 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 determining the principal accountant's independence.

5 years.

Item 5. Audit Committee of Listed Registrants

Assistant Secretary, or

Mathews Brokerage, CFA (1971)

Item 6. Investments

Cashier, S. (1977)

(a) Not applicable.

(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.

**Item 13. Exhibits.**

Vice President: **Maximize savings**
Gifts and transfers to a
T. Rowe Price
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T. Rowe Price
T. Rowe Price

(2) See **Accrued Securities** for 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(a) under the Investment Company Act of 1933, as amended.

(3) Written declaration to report these securities issued by closed-end companies; not applicable.

(b) A certificate to be made available to the registrant's principal executive officer and principal financial officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1933, is attached.

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 Financial Services Fund, Inc.

By /s/ David Oestreicher
David Oestreicher
Principal Executive Officer

Date 1-800-555-1-30
February 16, 2023
I 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 including available risk information, investment information, and other information that you should read and consider carefully before investing. Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By T. Rowe Price Financial Services Fund, Inc.
David Oestreicher
Principal Executive Officer

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.

202302-2582502  
P117-050 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 Financial
Services 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 Financial
Services 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 Financial Services 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.

---

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