# EDGAR Filing Document

**Accession Number:** 0000216907
**File Stem:** 0001099263-25-003602
**Filing Date:** 2025-11
**Character Count:** 43763
**Document Hash:** 8b733be1c5f80d85c4d50fd19be49b06
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-003602.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001099263-25-003602

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01710
- **FILM NUMBER:** 251521863

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

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

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

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

## Series and Classes Contracts Data

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

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

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

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

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

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

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2506280078.45

**Total Liabilities:** $40430083.24

**Net Assets:** $2465849995.21

**Cash Not Reported:** $603589.92

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005477 | 0.99%                | 4.96%                | 2.69%                |
| Class ID C000166331 | 0.99%                | 4.98%                | 2.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $16579919.07             | $7141341.25                                |
| Month 2  | $21407814.21             | $84891754.71                               |
| Month 3  | $16370008.80             | $46272229.56                               |

### Schedule of Portfolio Investments

| Name                                       | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADVANTAGE ENERGY LTD                       | ADVANTAGE ENERGY LTD                               | CUSIP: 000000000<br>LEI: 549300WK5YRPOB2DTT64 | Long             | EC               | CORP              | CA        |   1014500 | NS      | $8317485.81   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| AGNICO EAGLE MINES LTD                     | AGNICO EAGLE MINES LTD                             | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |    172020 | NS      | $28995691.20  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR LIQUIDE SA                             | AIR LIQUIDE SA                                     | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |    204920 | NS      | $42696440.17  | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| ALAMOS GOLD INC-CLASS A                    | ALAMOS GOLD INC                                    | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    306900 | NS      | $10698534.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ALCOA CORP                                 | ALCOA CORP                                         | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    295970 | NS      | $9734453.30   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORPORATION                         | AMEREN CORP                                        | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     97337 | NS      | $10160036.06  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTEMIS GOLD INC                           | ARTEMIS GOLD INC                                   | CUSIP: 04302L100<br>LEI: 529900GXBX7DGL5YMO49 | Long             | EC               | CORP              | CA        |    673600 | NS      | $17661610.98  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| BAKER HUGHES CO                            | BAKER HUGHES CO                                    | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    549569 | NS      | $26775001.68  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                                    | BASF SE                                            | CUSIP: 000000000<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |    361410 | NS      | $18057579.40  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| BP PLC                                     | BP PLC                                             | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |   3558037 | NS      | $20429013.30  | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| CAMECO CORP                                | CAMECO CORP                                        | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    466584 | NS      | $39127734.24  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES                 | CANADIAN NATURAL RESOURCES LTD                     | CUSIP: 000000000<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |   1464066 | NS      | $46813923.26  | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                       | CARPENTER TECHNOLOGY CORP                          | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     56700 | NS      | $13922118.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC                            | CATERPILLAR INC                                    | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     58700 | NS      | $28008705.00  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CHAMPION IRON LTD                          | CHAMPION IRON LTD                                  | CUSIP: 000000000<br>LEI: 894500WQI96G4T75O202 | Long             | EC               | CORP              | AU        |   3420911 | NS      | $10570795.56  | 0.43%             |  |  |  | No            |                  2 | On Loan: —       |
| CHEVRON CORP                               | CHEVRON CORP                                       | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    687331 | NS      | $106735630.99 | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                             | CONOCOPHILLIPS                                     | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    860643 | NS      | $81408221.37  | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY                       | CONSTELLATION ENERGY CORP                          | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     22300 | NS      | $7338261.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CORTEVA INC                                | CORTEVA INC                                        | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    214000 | NS      | $14472820.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY INC                     | DIAMONDBACK ENERGY INC                             | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |    186427 | NS      | $26677703.70  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DUPONT DE NEMOURS INC                      | DUPONT DE NEMOURS INC                              | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |    259700 | NS      | $20230630.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                               | ENBRIDGE INC                                       | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |   1150492 | NS      | $58053826.32  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY FUELS INC                           | ENERGY FUELS INC/CANADA                            | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |   1185500 | NS      | $18197425.00  | 0.74%             |  |  |  | No            |                  1 | On Loan: —       |
| ENERGY RESERVOIR 2022 CL A-3 PREFEQ PP     | ENERGY RESERVOIR 2022 CL A-3 PREFEQ PP             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    234367 | NS      | $267178.38    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ENERGY RESERVOIR 2019 CL A-1 PREFEQ PP     | ENERGY RESERVOIR HLDG LLC TAX BLOCKER PP           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  10108939 | NS      | $5458827.06   | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EOG RESOURCES INC                          | EOG RESOURCES INC                                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    134811 | NS      | $15115009.32  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT CORP                                   | EQT CORP                                           | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    566187 | NS      | $30817558.41  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORP                         | EXPAND ENERGY CORP                                 | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    244171 | NS      | $25940727.04  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPRO GROUP HLDS NV                        | EXPRO GROUP HOLDINGS NV                            | CUSIP: 000000000<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |   1079078 | NS      | $12819446.64  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                           | EXXON MOBIL CORP                                   | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    831876 | NS      | $93794019.00  | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMERS BUSINESS NETWORK INC CVT SR D PP   | FARMERS BUSINESS NETWORK INC CVT SR D PP           | CUSIP: 000000000<br>LEI: 5493003KO0NA75DM0Y81 | Long             | EP               | CORP              | US        |    165071 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FIREFLY AEROSPACE INC                      | FIREFLY AEROSPACE INC                              | CUSIP: 31816X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    111524 | NS      | $3269883.68   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST QUANTUM MINERALS LTD                 | FIRST QUANTUM MINERALS LTD                         | CUSIP: 000000000<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |    934073 | NS      | $21128560.78  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| FORM ENERGY SER F CVT PFD PP               | FORM ENERGY SER F CVT PFD PP                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    251671 | NS      | $6086386.30   | 0.25%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FRANCO-NEVADA CORP                         | FRANCO-NEVADA CORP                                 | CUSIP: 000000000<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |    117445 | NS      | $26141364.99  | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                       | FREEPORT-MCMORAN INC                               | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    745101 | NS      | $29222861.22  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMERS BUSINESS NETWORK INC PP            | Farmers Business Network Inc PP                    | CUSIP: TC7HUI213<br>LEI: 5493003KO0NA75DM0Y81 | Long             | EC               | CORP              | US        |    450821 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GALP ENERGIA SGPS SA                       | GALP ENERGIA SGPS SA                               | CUSIP: 000000000<br>LEI: 2138003319Y7NM75FG53 | Long             | EC               | CORP              | PT        |    814642 | NS      | $15437262.01  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| GLENCORE PLC                               | GLENCORE PLC                                       | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   5053106 | NS      | $23272726.54  | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| HEIDELBERG MATERIALS AG                    | HEIDELBERG MATERIALS AG                            | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |    112866 | NS      | $25512876.87  | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                           | HF SINCLAIR CORP                                   | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |    417500 | NS      | $21851950.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| HOLCIM LTD-REG                             | HOLCIM AG                                          | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |    265833 | NS      | $22682084.75  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| ILUKA RESOURCES LTD                        | ILUKA RESOURCES LTD                                | CUSIP: 000000000<br>LEI: 2549009N2Y1F4YNB0955 | Long             | EC               | CORP              | AU        |   1780234 | NS      | $7463319.97   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERNATIONAL PAPER CO                     | INTERNATIONAL PAPER CO                             | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    414089 | NS      | $19213729.60  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERPUMP GROUP SPA                        | INTERPUMP GROUP SPA                                | CUSIP: 000000000<br>LEI: 815600C79D0F31F4D395 | Long             | EC               | CORP              | IT        |    301603 | NS      | $13863985.14  | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| IVANHOE ELECTRIC INC / US                  | IVANHOE ELECTRIC INC / US                          | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1184981 | NS      | $14871511.55  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| JETTI HOLDINGS SER C CVT PFD STOCK PP      | JETTI HOLDINGS SER C CVT PFD STOCK PP              | CUSIP: TC2S64YY5<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     83662 | NS      | $5559339.90   | 0.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| JETTI HOLDINGS SER D CVT PFD STOCK PP      | JETTI HOLDINGS SER D CVT PFD STOCK PP              | CUSIP: TC268FIM0<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     86580 | NS      | $11505789.36  | 0.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KAJIMA CORP                                | KAJIMA CORP                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    131200 | NS      | $3823803.62   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| KELT EXPLORATION LTD                       | KELT EXPLORATION LTD                               | CUSIP: 000000000<br>LEI: 549300OBXGWYN1VOFC24 | Long             | EC               | CORP              | CA        |   2119191 | NS      | $10476420.26  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                          | KINDER MORGAN INC                                  | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    500596 | NS      | $14171872.76  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| KION GROUP AG                              | KION GROUP AG                                      | CUSIP: 000000000<br>LEI: 5299005KY91C4C6U9H17 | Long             | EC               | CORP              | DE        |    305107 | NS      | $20700154.60  | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP                           | KNIFE RIVER CORP                                   | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    163900 | NS      | $12598993.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| KOBOLD METALS SER B-1 CVT PFD STOCK PP     | KOBOLD METALS SER B-1 CVT PFD STOCK PP             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    280805 | NS      | $30565624.25  | 1.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KOBOLD METALS SER B-PRIME CVT PFD STOCK PP | KOBOLD METALS SER B-PRIME CVT PFD STOCK            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     52878 | NS      | $5755770.30   | 0.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KODIAK GAS SERVICES INC                    | KODIAK GAS SERVICES INC                            | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    286003 | NS      | $10573530.91  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| LILAC SOLUTIONS SERIES B CVT PFD STOCK PP  | LILAC SOLUTIONS SERIES B CVT PFD STOCK P           | CUSIP: TC6T8T2V3<br>LEI: 2549003PYCNMV1SNZ851 | Long             | EP               | CORP              | US        |    601655 | NS      | $5589374.95   | 0.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LINDE PLC                                  | LINDE PLC                                          | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |    147093 | NS      | $69869175.00  | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| LOUISIANA-PACIFIC CORP                     | LOUISIANA-PACIFIC CORP                             | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |    152800 | NS      | $13574752.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON PETROLEUM CORP                    | MARATHON PETROLEUM CORP                            | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |    256932 | NS      | $49521073.68  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MP MATERIALS CORP                          | MP MATERIALS CORP                                  | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |    125383 | NS      | $8409437.81   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NESTE OYJ                                  | NESTE OYJ                                          | CUSIP: 000000000<br>LEI: 5493009GY1X8GQ66AM14 | Long             | EC               | CORP              | FI        |    735116 | NS      | $13506842.51  | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY INC                         | NEXTERA ENERGY INC                                 | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    288379 | NS      | $21769730.71  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| NGEX MINERALS LTD                          | NGEX MINERALS LTD                                  | CUSIP: 000000000<br>LEI: 549300M2DU5ORAGOIG27 | Long             | EC               | CORP              | CA        |     82644 | NS      | $1541001.51   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON SANSO HOLDINGS CORP                 | NIPPON SANSO HOLDINGS CORP                         | CUSIP: 000000000<br>LEI: 353800F1K6653B4VPY57 | Long             | EC               | CORP              | JP        |    127700 | NS      | $4522588.68   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                             | NRG ENERGY INC                                     | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     80000 | NS      | $12956000.00  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| NUVISTA ENERGY LTD                         | NUVISTA ENERGY LTD                                 | CUSIP: 000000000<br>LEI: 549300MG32TDSM60SX75 | Long             | EC               | CORP              | CA        |   1108500 | NS      | $12807846.52  | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK INC                                  | ONEOK INC                                          | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    393800 | NS      | $28735586.00  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| OR ROYALTIES INC                           | OR ROYALTIES INC                                   | CUSIP: 000000000<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |    858200 | NS      | $34397065.46  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| OVINTIV INC                                | OVINTIV INC                                        | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |    498200 | NS      | $20117316.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| PACKAGING CORP OF AMERICA                  | PACKAGING CORP OF AMERICA                          | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |     95208 | NS      | $20748679.44  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PERMIAN RESOURCES CORP                     | PERMIAN RESOURCES CORP                             | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |   1223631 | NS      | $15662476.80  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS 66                                | PHILLIPS 66                                        | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |    330365 | NS      | $44936247.30  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG INDUSTRIES INC                         | PPG INDUSTRIES INC                                 | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     61200 | NS      | $6432732.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PRECISION DRILLING CORP                    | PRECISION DRILLING CORP                            | CUSIP: 000000000<br>LEI: 549300WF2OE8T5BP4B84 | Long             | EC               | CORP              | CA        |    180200 | NS      | $10148793.56  | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                       | RANGE RESOURCES CORP                               | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    478252 | NS      | $18001405.28  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM INTERNATIONAL INC                      | RPM INTERNATIONAL INC                              | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |    126357 | NS      | $14894963.16  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                                  | SHELL PLC                                          | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |   3008267 | NS      | $107217760.71 | 4.35%             |  |  |  | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO/THE                    | SHERWIN-WILLIAMS CO/THE                            | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     98215 | NS      | $34007925.90  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| SKEENA RESOURCES LTD                       | SKEENA RESOURCES LTD                               | CUSIP: 000000000<br>LEI: 549300DCWSQFVVZ21289 | Long             | EC               | CORP              | CA        |    643300 | NS      | $11847222.10  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| SCHLUMBERGER LTD                           | SLB LTD                                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |   1162165 | NS      | $39943611.05  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWLINE GOLD CORP                         | SNOWLINE GOLD CORP                                 | CUSIP: 000000000<br>LEI: 529900VVFSE66NAIST38 | Long             | EC               | CORP              | CA        |    757357 | NS      | $6040571.03   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTH BOW CORP                             | SOUTH BOW CORP                                     | CUSIP: 000000000<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |    622500 | NS      | $17614464.32  | 0.71%             |  |  |  | No            |                  2 | On Loan: —       |
| SOUTHERN CO/THE                            | SOUTHERN CO/THE                                    | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    198502 | NS      | $18812034.54  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN COPPER CORP                       | SOUTHERN COPPER CORP                               | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |    104019 | NS      | $12623745.84  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIE SA                                    | SPIE SA                                            | CUSIP: 000000000<br>LEI: 969500TJNS5GSFWJ8X85 | Long             | EC               | CORP              | FR        |    180479 | NS      | $9756984.11   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| STORA ENSO OYJ-R SHS                       | STORA ENSO OYJ                                     | CUSIP: 000000000<br>LEI: 7437000ZP669LKUTZ738 | Long             | EC               | CORP              | FI        |   1426116 | NS      | $15694286.67  | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| SUNCOR ENERGY INC                          | SUNCOR ENERGY INC                                  | CUSIP: 000000000<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |    886722 | NS      | $37107630.44  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| SYENSQO SA                                 | SYENSQO SA                                         | CUSIP: 000000000<br>LEI: 549300060XNJ90PLNS10 | Long             | EC               | CORP              | BE        |    134485 | NS      | $10918592.04  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| T. Rowe Price Government Reserve Fund      | T. Rowe Price Government Reserve Fund              | CUSIP: 76105Y109<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |      1000 | NS      | $1000.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund      | T. Rowe Price Government Reserve Fund - Collateral | CUSIP: 76105YYY8<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |  38362064 | NS      | $38362064.25  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TALON CAPITAL CORP                         | TALON CAPITAL CORP                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    479220 | NS      | $4806576.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Talon Capital Sponsor LLC CL A MBR INT PP  | TALON CAPITAL SPONSOR LLC CL A MBR INT P           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    178821 | NS      | $447052.50    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TAMARACK VALLEY ENERGY LTD                 | TAMARACK VALLEY ENERGY LTD                         | CUSIP: 000000000<br>LEI: 549300TLKPX8BE14MH06 | Long             | EC               | CORP              | CA        |   1148800 | NS      | $4994064.81   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                       | TARGA RESOURCES CORP                               | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |    202149 | NS      | $33868043.46  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                             | TECHNIPFMC PLC                                     | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    792069 | NS      | $31247122.05  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TECK RESOURCES LTD-B                       | TECK RESOURCES LTD                                 | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    314683 | NS      | $13811436.87  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TENARIS SA-ADR                             | TENARIS SA                                         | CUSIP: 88031M109<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |    341502 | NS      | $12215526.54  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| THYSSENKRUPP AG                            | THYSSENKRUPP AG                                    | CUSIP: 000000000<br>LEI: 549300UDG16DOYUPR330 | Long             | EC               | CORP              | DE        |    805115 | NS      | $11108834.80  | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| TONIAN HOLD SR A NV CVT PFD UNITS PP       | TONIAN HOLDINGS NON-VOTING CVT PFD                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1796201 | NS      | $2550605.42   | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TONIAN HOLD SR A VTG CVT PFD UNITS PP      | TONIAN HOLDINGS VOTING CVT PFD UNITS               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2526018 | NS      | $3586945.56   | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TOTALENERGIES SE                           | TOTALENERGIES SE                                   | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    889760 | NS      | $54194066.79  | 2.20%             |  |  |  | No            |                  2 | On Loan: No      |
| TOURMALINE OIL CORP                        | TOURMALINE OIL CORP                                | CUSIP: 000000000<br>LEI: 894500I7AXG91VB3PM28 | Long             | EC               | CORP              | CA        |    492400 | NS      | $21235789.32  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| UPM-KYMMENE OYJ                            | UPM-KYMMENE OYJ                                    | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |    445518 | NS      | $12201237.75  | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| URANIUM ENERGY CORP                        | URANIUM ENERGY CORP                                | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |   3650600 | NS      | $48699004.00  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORP                         | VALERO ENERGY CORP                                 | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |    311296 | NS      | $53001256.96  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| VAR ENERGI ASA                             | VAR ENERGI ASA                                     | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | EC               | CORP              | NO        |   1907897 | NS      | $6369506.29   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| VIPER ENERGY INC-CL A                      | VIPER ENERGY INC                                   | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    416203 | NS      | $15907278.66  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTA ENERGY SAB DE CV ADR                 | VISTA ENERGY SAB DE CV                             | CUSIP: 92837L109<br>LEI: 549300UDOHP7958KNS89 | Long             | EC               | CORP              | MX        |    199300 | NS      | $6855920.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| WARRIOR MET COAL INC                       | WARRIOR MET COAL INC                               | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |    284400 | NS      | $18099216.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| WEATHERFORD INTERNATIONAL PL               | WEATHERFORD INTERNATIONAL PLC                      | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |    284800 | NS      | $19488864.00  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST FRASER TIMBER CO LTD                  | WEST FRASER TIMBER CO LTD                          | CUSIP: 000000000<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |    215899 | NS      | $14677160.59  | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| WILLIAMS COS INC                           | WILLIAMS COS INC/THE                               | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |   1025600 | NS      | $64971760.00  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| WOODSIDE ENERGY GROUP LTD                  | WOODSIDE ENERGY GROUP LTD                          | CUSIP: 000000000<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |   1155027 | NS      | $17442026.22  | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| ZIJIN GOLD INTERNATIONAL CO                | ZIJIN GOLD INTERNATIONAL CO LTD                    | CUSIP: 000000000<br>LEI: 254900FINUJR4MZ8A417 | Long             | EC               | CORP              | HK        |    464600 | NS      | $7200092.52   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-05

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President