# EDGAR Filing Document

**Accession Number:** 0000918294
**File Stem:** 0001193125-23-039832
**Filing Date:** 2023-2
**Character Count:** 115369
**Document Hash:** 06abd762287c2267978e2fd35812b276
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-039832.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001193125-23-039832

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230215

**EFFECTIVENESS DATE**: 20230215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Equity Series, Inc.
- **CENTRAL INDEX KEY:** 0000918294
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07143
- **FILM NUMBER:** 23633834

**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 EQUITY SERIES INC
- **DATE OF NAME CHANGE:** 19940131

## Series and Classes Contracts Data

### T. Rowe Price Blue Chip Growth Portfolio (Series ID: S000002081)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000005445 | T. Rowe Price Blue Chip Growth Portfolio    | QAAAJX          |
| C000005446 | T. Rowe Price Blue Chip Growth Portfolio-II | QAAGXX          |

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: 811-07143

T. Rowe Price Equity Series, 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

T. ROWE PRICE

# Blue Chip Growth Portfolio

For more insights from T. Rowe Price investment professionals,
go to troweprice.com.

INVEST WITH CONFIDENCE

The Blue Chip Growth Portfolio generated a negative absolute return in the 12-month period ended December 31, 2022. The portfolio underperformed its benchmark, the S&P 500 Index, and also lagged the style-specific Russell 1000 Growth Index. The portfolio also trailed its peer group, the Lipper Variable Annuity Underlying Large-Cap Growth Funds Average.

Major U.S. stock indexes fell sharply in 2022, the worst year for equities since the 2008 global financial crisis. Investors moved out of riskier assets in response to deteriorating macroeconomic conditions and the Federal Reserve's attempt to fight elevated inflation through short-term interest rate increases, driving equities downward with a high degree of correlation.

## 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.

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

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

Market Commentary

# HIGHLIGHTS

The portfolio's top sector allocations are in information technology, health care, and consumer discretionary.

Despite significant macroeconomic headwinds and expectations of further volatility in the coming year, we continue to stay true to our growth targets. Given the growth reflect that have followed positive incremental news around inflation, early in the third quarter, and again in November, there is reason to believe that once inflation begins to moderate, or a sustained manner, many of our high-conscious holdings could experience a hard rebound.

Double-digit losses were common in equity markets around

As the period came to 2019, the economic backlog of the market was a result of a significant increase in the market's share of the market. The market's share of the market was a result of a significant increase in the market's share of the market. The market's share of the market was a result of a significant increase in the market's share of the market.

resilient, and corporate and household balance sheets appeared strong. Meanwhile, the housing market has weakened amid

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

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

Management's Discussion of Fund Performance

## Dear Investor

the world, and bond investors also faced a historically tough environment amid a sharp rise in interest rates. Value shares declined our outperformed growth stocks by a considerable margin as equity investors turned risk averse and as rising rates put downward pressure on growth stock valuations.

**FUND COMMENTARY**
Emerging inventory stocks generally underperformed shares in developed markets. Meanwhile, the U.S. dollar strengthened

**How did the fund perform in the past 12 months?**

rising mortgage rates.

competitive pressures in the short-form video space began to erode the company's engagement metrics, weighing further on sectors remained untouched by the broad headwinds that markets faced and volatility, that continue in the near term as capital banks tighten policy amid slowing economic growth. However, in our view, there continue to be opportunities for selective investors focused on fundamentals. Valuations

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

1

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# **INVESTMENT OBJECTIVE**

versus most currencies during the period, which weighed on The Blue Chip Growth Portfolio, returned 38.50% in the 2023-2024 financial year, and a 2023-2024 annual earnings of 12-month period ended December 31, 2022. The portfolio during the year, particularly in the digital advertising space, was a 2023-2024 annual earnings of 12-month period ended December 31, 2022. The portfolio was a 2023-2024 annual earnings of 12-month period ended December 31, 2022. The portfolio was a 2023-2024 annual earnings of 12-month period ended December 31, 2022. The portfolio was a 2023-2024 annual earnings of 12-month period ended December 31, 2022.

loss from privacy policy changes. Additionally, increasing consumer demand exerted an outsized effect on the sector. Most global equity markets have improved, markedly, although shareholding is a major factor in the U.S. market. U.S. equities still appear relatively expensive by historical levels. The U.S. market is a 2023-2024 annual earnings of 12-month period ended December 31, 2022. The portfolio was a 2023-2024 annual earnings of 12-month period ended December 31, 2022. The portfolio was a 2023-2024 annual earnings of 12-month period ended December 31, 2022.

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

2

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# **How is the fund positioned?**

The fund is designed to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability to be a part of the fund's ability

# **RISKS OF STOCK INVESTING**

The portfolio's share price can fall because of weakness in the position in data, data and data in the market. Stock is a key factor in the market's growth and the market's growth in the market.

The portfolio's share price can fall because of weakness in the position in data, data and data in the market. Stock is a key factor in the market's growth and the market's growth in the market.

growth is underappreciated by the market. We view the

logistics for the company's business, which is a key factor in the market's growth and the market's growth in the market.

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

![img-3.jpeg](img-3.jpeg)

3

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# RISKS OF INVESTING IN THE FUND

This report is based on a multi-decade transition from offline to online
protecting for data and data management and data sharing a variety of
advantages and offers investors a rare combination of scale
and processing. The results of this report are based on a single data
system, and professional, all an attractive valuation with
the potential for a variety of investment and the potential for a variety of
multiple catalysts that include a collection of under-moneyed
transfers, and a variety of companies that have a greater growth
in the market. The information is available to global central
marketers, and the company is located at the performance level
back-to-back, and the company is located at the performance level
back-to-back, and the company is located at the performance level
back-to-back, and the company is located at the performance level
back-to-back, and the company is located at the performance level
back-to-back, and the company is located at the performance level
back-to-back, and the company is located at the performance level
back-to-back, and the company is located at the performance level
back-to-back, and

Note: The S&P 500 Index is a product of S&P Dow Jones

Automotive also came under significant pressure as weakening
Jones S&P or their respective affiliates, and none of such
consumer spending, whether on near-term demand for EVs,
parties make any representation regarding the advisability of
transfers. The company is not a member of the company's
investors in such protection, but do they have any liability for
the company's investment, and the company is not a member of the
company's investment, and the company is not a member of the
company's investment, and the company is not a member of the
company's investment, and the company is not a member of the
company's investment, and the company is not a member of the
company's investment, and the company is not a member of the
company's investment, and the company is not a member of the
company's investment, and

![img-4.jpeg](img-4.jpeg)

As of 12/31/22

| Blue Chip Growth Portfolio | $30,195 |
| --- | --- |
| S&P 500 Index | 32,654 |
| Lipper Variable Annuity Underlying Large-Cap Growth Funds Average | 32,044 |

4

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# GROWTH OF $10,000

mutual portfolio, which at the end of 2021 had

perceived. In 2021, the Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was

# FUND EXPENSE EXAMPLE

period. The Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was 10.4% and 10.5% respectively. The Group's share of the portfolio was

$50,000

5

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# FUND EXPENSE EXAMPLE (CONTINUED)

Blue Chip Growth Portfolio

By the date of the award, the company's annual plan is based on the annual plan. The company's annual plan is based on the annual plan.

E

Actual expenses in future amounts are not available for future purposes.

# NET ASSET VALUE

Beginning of period

Investment activities

Net investment income (loss)1)(2)

UnitedHealth Group

5.2

Actual Expenses

The first time of the following is the annual plan. The annual plan is based on the annual plan.

$53.12 $50.71 $38.98 $30.79 $31.22

(0.09) (0.24) (0.14) (3) (3)

6

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

| In the portfolio, as some of our household earnings shown in the annual report, the following report, the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding | about 5.09 the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding | about 5.09 the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding | about 5.09 the following report, is a summary of the statements of the Company's shareholding, which is the following report, is a summary of the statements of the Company's shareholding |  |
| --- | --- | --- | --- | --- |
| Blue Chip Growth Portfolio - II Class |  |  |  |  |
| Distribution |  |  |  |  |
| Net asset value |  |  |  |  |
| Beginning of period | $50.47 | $48.48 | $37.42 | $29.66 |
| NET ASSET VALUE |  |  |  |  |
| End of period | $30.94 (0.18) | $53.12 (0.36) | $50.71 (0.24) | $38.98 (0.08) |
| Net investment loss (1)(2) |  |  |  |  |

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

7

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

December 31, 2022

by the days in the year (365) to reflect
the adjustment of a material, step-up in
the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital of the capital

AVERAGE: AVERAGE OF THE TOTAL OF THE YEAR
RATIOS: Supplemental, 2016, Companies and is/are used by any other
COMMUNICATION
REPORT: 2016/2017
Total Return
Net realized cash
Entertainment 1.8%

Ratios to average net assets: (2)
Gross expenses before waivers/payments by Price
NET ASSET VALUE
End of period $29.23

reports of the others funds. The report provides in its open and progresses only not to be taken from the same time in the form of earnings, provisions, expiring, and waiver of the current or winding of Shares/Paying S Value. You are also that we are not to be helped us and better than the best of the company's business and do not reflect any transaction costs, such as redemption fees or sales loans. Therefore, the second line of the table is useful in comparing ongoing costs only and will not help you determine if the results are 2.0% downing different funds. To the extent a fund charges have been made, however, the total cost of over 2.0% was used is high 1.4% (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1.6%) (1.6% of 1

|  | 0.85% | 0.85% | 0.85% | 0.80% |
| --- | --- | --- | --- | --- |
| $ | 50.47 | $48.48 | $37.42 | $29.66 |

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

8

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

Blue Chip Growth Portfolio 68,668 11.68%

The following table provides the data to the relevant LSE Group 11.68% of the total of the 2016 and 2017 annual earnings per share (EPS) for the year ended December 31, 2016.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points. The table contains two rows of data: the first row contains a series of values (e.g., 1, 2, 3), and the second row contains a series of values (e.g., 1, 2, 3).

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

Net assets, end of period (in thousands) $1,055,580

Ratios to average net assets: \( ^{20} \)

Gross profit and loss before working capitalization by Price

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

The following table provides the information in the United States: The data is presented in a tabular format with the corresponding data points.

Marsh & McLennan 68,668 11,363

Shares/Par $ Value

Note: The information shown does not reflect any exchange-traded funds (ETFs) (the first time of the year) for securities lending that may be held in the portfolio.

HEALTH CARE 16.6% MATERIALS 1.3%

Health Care Equipment & 0.75% 0.75% 0.80%

Supplies 1.0% (0.33)% 0.01% (0.01)%

Lands 29,967 9,775

Able Technology (1) 33.32% 29.50% 28.90%

Cottage Willing 39,212 9,306

1,771,014 1,606,413 $1,199,110 $950,220

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

The Ground Truth image displays a single, solid horizontal line. According to Rule 2 (UNDERSCORE & LINE RULES), this is a stylistic or background line, not a placeholder underscore. Therefore, the OCR result must ignore it and output nothing or only meaningful text. The provided OCR content is "____", which consists of four underscores. This is an incorrect interpretation of the line as a placeholder, violating the rule that stylistic lines must be ignored. The OCR has hallucinated underscores where none should exist based on the GT's visual context. Hence, the OCR result is inconsistent with the Ground Truth.

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

| A. T. Rowe Price Group does not provide a special or exclusive fee 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 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 | Intuitive Surgical (1) | 105,548 | 28,007 |
| --- | --- | --- | --- |
|  | Total Materials | 32,000 | 19,081 |
| B. T. Rowe Price Group does not provide a special or exclusive fee 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 | Total Common Stocks (Cost $892,451) | 11,108 | 2,773 |
|  |  |  | 1,493,351 |
| C. T. Rowe Price Group does not provide a special or exclusive fee 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 |  |  | 45,262 |
| D. T. Rowe Price Group does not provide a special or exclusive fee 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 | Health Care Providers & Services (1) | 1,075 | 1.05% |
| E. T. Rowe Price Group does not provide a special or exclusive fee 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 | Services (1) | 1,075 | 1.05% |
| F. T. Rowe Price Group does not provide a special or exclusive fee 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 | Services (1) | 1,075 | 1.05% |

(1) Per share amounts calculated using average shares outstanding method.

(2) See Note 6 for details of expense-related arrangements with Price Associates.

(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

10

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

Total Commercial Services total return figures include changes

DISCRETIONARY 14.4% 137,976 147,851
DISCREPANCY 14.4% 0.0% 0.0%
TOTAL DISCREPANCY 14.4% 0.0%

AFFILIATED COMPANIES 109,090 0.304
Total Investment in a Pooled 29,365 17,930
AFFILIATED COMPANIES 29,365 17,930
Total Gross Exemptions presented are net of a management fee waiver in effect during the period, as applicable.
AFFILIATED COMPANIES 29,365 17,930

Program with State Street Bank and
U.S. Department of Finance 107,383
Total Company 107,383
Total Company 107,383
Total Company 107,383

UnitedHealth Group 146,254 77,541

Service-Series-A Acquisition Date: 105,262
11/4/21 - 12/17/21, Cost $157 (1)(3)
Health Care Technology 0.8%

Vienna Systems & Automation Date: 23,362 3,770

11/4/21 - 12/17/21, Cost $17 (1)(3)(4) 10 6
A management fee waiver in effect during the period, as applicable.
Life Sciences Tools & Services 2.8%

2.8% 12,545 12,545
2.8% 12,545
2.8% 12,545
2.8% 12,545
2.8% 12,545
2.8% 12,545
2.8% 12,545
2.8% 12,545
2.8% 12,545

11

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

December 31, 2022

| Accumulated other than capital | 210,607 | 21,844 | Quasi, Series E, Acquisition Date: | 21/02 | 42,926 |
| --- | --- | --- | --- | --- | --- |
| Total Investments in Securities | 40,015 | 21,864 | Planned (1)(2)(3)(4) | Change in Net | 698 |
| Interest & Direct Marketing | 6,014 | 2,528 | Total Income and Rechanges | Net Realized | Unrealized |
| Interest & Direct Marketing | 138,526 | $1,514,301 | Cash (Loss) | Gain (Loss) | Investment |
| Interest & Direct Marketing | 138,526 | 102,812 | Total Convertible Preferred Stocks | $ - | $1,514,301 |
| Interest & Direct Marketing | 138,526 | 102,812 | (Cost $4,347) | $ - | $1,514,301 |
| Dividends and interest receivable | 28,126 | 2,082 |  | $ - | $2,082 |
| Foreign Setticonductor Manufacturing | 28,126 | 41,989 |  |  | $55,781 |
| Total Assets |  | 105,900 | CORPORATE BONDS 0.1% |  | 2,513,693 |

Liabilities

| Payable for investment securities purchased | 8,406 |
| --- | --- |
| Investment management and administrative fees payable | 1,052 |

12

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

| Building Retail | 1,286 | 69,847 | 5,203 | INDUSTRIALS & BUSINESS |  |  |
| --- | --- | --- | --- | --- | --- | --- |
| Affiliate | (1) Non-income producing | 64,500 | 10,781 | Cashflow 10,750 and 2/30 (5) Purchase | 4,175,000 | Value |
| Subtotal | (1) Non-income producing | 168,761 | 168,761 | Commercial Services | Cost | 12,734,000 |
| Subtotal | (1) Non-income producing | 168,761 | 168,761 | Total Commercial Funds (Cost $4,075) | 0 | $15,568 |
| Subtotal | (1) Non-income producing | 168,761 | 168,761 | Supplies 0.2% | 0 | $15,568 |
| Subtotal | (1) Non-income producing | 168,761 | 168,761 | SHORT-TERM INVESTMENTS 1.0% | 7,525 | $15,568 |
| Subtotal | (1) Non-income producing | 168,761 | 168,761 | Supplies 0.2% | 7,525 | $15,568 |
| Subtotal | (1) Non-income producing | 168,761 | 168,761 | SHORT-TERM INVESTMENTS 1.0% | 7,525 | $15,568 |
| Subtotal | (1) Non-income producing | 168,761 | 168,761 | Supplies 0.2% | 7,525 | $15,568 |

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

13

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

| Working capital stock outstanding at 1,000,000,000 shares and 1,000,000,000 shares at the aggregate value of restricted securities (excluding the exchange rate of 1,000,000,000 shares) and 1,000,000,000 shares at the 1,000,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000 | 1,000,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000 | 1,000,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000 |
| --- | --- | --- |
| Total Stockholders' Equity | 1,000,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000 | 1,000,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000 |
| Total Stockholders' Equity | 1,000,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000 | 1,000,000,000 shares at the 1,000,000 shares at the 1,000,000 shares at the 1,000 |

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

14

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

| Bayram Veltweve (1) | 5,864 | 1,826 | Old Dominion Freight Line | 21,767 | 6,177 |
| --- | --- | --- | --- | --- | --- |
| Blue Chip Growth Portfolio (2) | 66,888 | 36,647 |  |  | 6,177 |
| Blue Chip Growth Portfolio (3) | 66,888 | 18,538 |  |  |  |
| Spotlight (4) | 6,135 | 2,854 | Total Industrials & Business Services |  | 30,557 |
| MSCI |  | 305,285 |  | $ | 30.94 |
| ($1,055,579,900 / 34,120,623 shares outstanding) |  |  |  |  | (114,414) |
| Blue Chip Growth Portfolio Class |  |  |  |  | (7) |
| ($1,055,579,900 / 34,120,623 shares outstanding) |  |  |  |  | (114,414) |
| Net market share |  |  |  |  | (28.24) |
| Blue Chip Growth Portfolio Class |  |  |  |  | (114,416) |
| Other (see above) |  |  |  |  | (36,747) |
| Change in future exchange of assets and assets established for the purpose of funding variable annuity contracts and variable life insurance policies. The fund has two classes of shares: the Blue Chip Growth Portfolio (Blue Chip Growth Portfolio Class) and the Blue Chip Growth Portfolio (Blue Chip Growth Portfolio II Class). Blue Chip Growth Portfolio-II Class shares are sold through financial intermediaries, which it compensates for distribution, shareholder servicing, and/or certain administrative services under a Board-approved Rule 12b-1 plan. Each class has exclusive voting rights on matters related solely to that class; separate voting rights on matters |  |  |  |  | (28,455) |

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

15

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

Total Information Technology

704,416

Shane, Rowe Price Equity Series, Inc. (the corporation) is registered under the Investment Company Act of 1940 (the 1940 Act). The Blue Chip Growth Portfolio Class 279,904 285,455
Blue Chip Growth Portfolio Class 285,455
Blue Chip Growth Portfolio - II Class 25,099 95,943
NOTE: The TRI-CLUB/PLANT ACCOUNTING POLICIES are available on December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to share the value in Topic 848. Management intends to rely upon the relief provided under Topic 848, which is not expected to have a basis of Preparation. The fund is an investment company and follows accounting and reporting guidance in the Financial Accounting financial impact on the fund's financial statements.
Standards Board (FASB) Accounting Standards Codification Topic 946 (ASC 946). The accompanying financial statements were

16

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

The FASB issued Accounting Standards Update (ASU), ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the

Blue Chip Growth Portfolio - II Class

**Indemnification:** The net income of the parent company is a 100% increase in the value of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company's share of the parent company

17

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign

quoted by dealers who make markets in such securities.

Shares in the future. The fund's financial instruments are valued at the close of the NYSE and are reported at fair value which GAAP defines. The S&P's financial instruments are valued at the close of the NYSE and are reported at fair value which GAAP defines. The S&P's financial instruments are valued at the close of the NYSE and are reported at fair value which GAAP defines. The S&P's financial instruments are valued at the close of the NYSE and are reported at fair value which GAAP defines. The S&P's financial instruments are valued at the close of the NYSE and are reported at fair value which GAAP defines. The S&P's financial instruments are valued at the close of the NYSE and are reported at fair value which GAAP defines. The S&P's financial instruments are valued at the close of the NYSE

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

18

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

remaining USD LIBOR settings will continue to be published until June 30, 2023. There remains uncertainty regarding the future
Increase in the current financial year of the year and the future of the year. The financial year of the year is a result of the current financial year. The financial year of the year is a result of the current financial year. The financial year of the year is a result of the current financial year. The financial year of the year is a result of the current financial year. The financial year of the year is a result of the current financial year. The financial year of the year is a result of the current financial year. The financial year of the year is a result of the current financial year. The financial year of the year

19

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

At December 31, 2022, the tax-basis cost of investments (including derivatives, if any) and gross unrealized appreciation and

significant adjustment of the tax-based assets and goodwill of the company's investments and other expenses of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of the other companies, which are in the case of

next-computed NAV per share, after receipt of the transaction order by T. Rowe Price Associates, Inc., or its agents.

20

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

In addition, the fund has entered into service agreements with Price Associates and a wholly owned subsidiary of Price Associates, including the use of unobtainable inputs. When multiple inputs are used to derive the Price Reserve Funds, the Price Reserve Funds are offered as short-term investments. Total distributable earnings (loss) 1,474,009
To the Board of Directors of T. Rowe Price Equity Series, Inc. and Shareholders of T. Rowe Price Blue Chip Growth Portfolio
NOTE: A FEDERAL INCOME TAXES
Note: This is a federal income tax rate, which is subject to the Federal Income Tax Act, as amended by the Federal Income Tax Act, and the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act, as amended by the Federal Income Tax Act

21

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# Report of Independent Registered Public Accounting Firm

Securities Lending Collateral
Income and related gains for financial reporting purposes
During the year ended December 31, 2012, the Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
NOTE: FOREIGN TAXES
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share of the financial and other assets is not only available for the company's business and its subsidiaries.
The Company's share

22

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

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

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

NOTE: A. TAXES IN MORTGAGE

23

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# LIQUIDITY RISK MANAGEMENT PROGRAM

whether due to error or fraud

You are a member of the Liquidity Program, every investment held by the fund is classified at least 230

The following table provides the information in a specific format:

24

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# ABOUT THE PORTFOLIO'S DIRECTORS AND OFFICERS

The four top of the funds, which are also the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important, are the most important

25

T. ROWE PRICE BLUE CHIP GROWTH PORTFOLIO

# OFFICERS

HOW TO OBTAIN QUARTERLY PORTFOLIO HOLDINGS

The following table provides the information in a specific format:

1. The information provided is provided in the following table:
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   f. The information provided is provided in the following table:

# T.RowePrice®

100 East Pratt Street
Baltimore, MD 21202

Call 1-800-225-5132 to 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.

202302-2582053

E307-050 2/23

26

# 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 during the period covered by this report.

# Item 3. Audit Committee Financial Expert.

The registrant's Board of Directors determined that Mr. Teresa Bruce Bazemore qualifies as an audit committee (formal section, published in Annex 1 of Form N-CSR). The Bazemore is considered a member of the Board of Directors. The Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board

The Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board of Directors' Board

Audit Fees $21,734 $21,172 (Excess and remaining Cents and Pairs 2020 to present); Executive
Audit Related Fees Vice President and Chief Legal Officer, Huntington, Inoalla Industries, Inc. (January 2015 to March 2020); Director,
Tax Fees L. S. Smith, T. Rowe Price; formerly, Tax Director, Invesco Ltd. (to 2021),
All Other Fees Lincoln Electric Company (October 2020 to present)

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.

(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 maintaining the principal accountant's independence.

#### **Item 5. Audit Committee of Listed Registrants.**

Not applicable

Vice President, Oppenheimer Funds, Inc. (to 2019)

The information about the independent directors was current as of December 31, 2021, unless otherwise indicated, except for the number of portfolios. The information which is current as of the date of this report.

Effective April 27, 2022, Mr. Daniels resigned from his role as an independent director of the Price Funds.

The information which is current as of the date of this report.

Effective November 8, 2022, Ms. Walker was appointed as an independent director of the Price Funds.

Not applicable

#### **INTERESTED DIRECTORS (a)**

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

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

None (Year of Birth)

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.**

(a) The registrant's code of ethics pursuant to Item 2 of Form N-CSR is attached.

(1)

(2) Separate certifications by 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 2(b) of the Sarbanes-Oxley Act of 2002.

| Title of the President | Principal Occupation(s) and Directorships of Public Companies and Other Investment Companies During the Past Five Years | First Company |
| --- | --- | --- |
| (3) Written information to report base securities issued by closed-end companies; not applicable | Director, Vice President, and Secretary | T. Rowe Price, T. Rowe Price Investment Services, Inc., T. Rowe Price |
| (b) Assigned to 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 2(b) of the Sarbanes-Oxley Act of 2002. | President, Vice President, and Secretary, T. Rowe Price, T. Rowe Price Investment Services, Inc., T. Rowe Price | T. Rowe Price, T. Rowe Price Group, Inc., Price International Management, Inc. (Price Investment Management), Vice President and Secretary, T. Rowe Price International (Price International), Vice President, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price |
| Fran M. Pollack-Matz (1961) | President, Vice President, and Secretary, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price | T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price |
| Vice President and Secretary | T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price | T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price |
| Shannon H. Rauser (1987) | Assistant Vice President, T. Rowe Price | T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price, T. Rowe Price |

# 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 Equity Series, Inc.

By /s/ David Oestreicher
David Oestreicher
Principal Executive Officer

Date February 10, 2023

Assistant Secretary
Robert W. Sharps, CFA, CPA(1)
Charles M. Shriver, CFA (1967)
Director and Vice President, T. Rowe Price; Director, Price Investment Management; Chief Executive Officer and President, T. Rowe Price Group, Inc., Price International, and T. Rowe Price Trust Company

By /s/ David Oestreicher
David Oestreicher
Director and Vice President, T. Rowe Price; Director, Price Investment Management; Chief Executive Officer and President, T. Rowe Price Group, Inc., Price International, and T. Rowe Price Trust Company

By /s/ David Oestreicher
David Oestreicher
Director and Vice President, T. Rowe Price; Director, Price Investment Management; Chief Executive Officer and President, T. Rowe Price Group, Inc., Price International, and T. Rowe Price Trust Company

Date February 10, 2023

By /s/ Alan S. Dupski
Alan S. Dupski
Principal Financial Officer

Date February 10, 2023

Effective February 3, 2022. Mr. Sharps resigned from his role as an interested director of the Price Funds.

John F. Wakeman (1962)

Vice President

Megan Warren (1968)

Vice President

Justin P. White (1981)

Vice President, Price Investment Management and T. Rowe Price Group, Inc.

OFAC Sanctions Compliance Officer and Vice President, Price Investment Management; Vice President, T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price Retirement Plan Services, Inc., T. Rowe Price Services, Inc., and T. Rowe Price Trust Company

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

Executive Vice President

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

## 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 Blue Chip Growth Portfolio;

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;(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;(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;(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;(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;(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;(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 10, 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 Blue Chip Growth Portfolio;

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;(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;(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;(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;(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;(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;(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 10, 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 Blue Chip Growth Portfolio

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;&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;&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 10, 2023 | /s/ David Oestreicher |
|  | David Oestreicher |
|  | Principal Executive Officer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date: February 10, 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