T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR AUGUST 2022

BALTIMORE, Sept. 13, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.34 trillion as of August 31, 2022. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.5 billion in August 2022 and $3.0 billion for the quarter-to-date period ended August 31, 2022. This brings total client transfers for the year-to-date period ended August 31, 2022, to $10.0 billion. These client transfers include $1.2 billion, $2.0 billion, and $6.9 billion, respectively, transferred to the target date retirement trusts during the August, quarter-to-date, and year-to-date periods.

The following table shows the firm's assets under management as of August 31, 2022, and for the prior month-, quarter-, and year-end by investment vehicle, by asset class, and in the firm's target date retirement portfolios.

^{(a) Preliminary - subject to adjustment}

^{(b) The underlying assets under management of the multi-asset portfolios have been aggregated and presented as a separate line and not reported in the equity and fixed income lines.}

Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The organization also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

Supplemental Information

The following table reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.

^{(a) Preliminary - subject to adjustment}

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SOURCE T. Rowe Price Group, Inc.