PRESS RELEASE: T. Rowe Price Group Reports Preliminary Month-End Assets Under Management for February 2022

NEWS RELEASE

1. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR FEBRUARY 2022

BALTIMORE (March 10, 2022) - T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.54 trillion as of February 28, 2022. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $1.4 billion in February 2022 and $3.6 billion for the quarter-to-date period ended February 28, 2022. These client transfers include $0.9 billion and $2.8 billion, respectively, transferred to the target-date retirement trusts during the February and year-to-date periods.

The following table shows the firm's assets under management as of February 28, 2022, and for the prior month- and year-end by investment vehicle, asset class, and in the firm's target date retirement portfolios.

								As of
				Preliminary(a)
	(in billions)				2/28/2022			1/31/2022		12/31/2021
U.S. mutual funds
	Equity			$	486		$	503		$	554
	Fixed income, including money market			85			85			85
	Multi-asset(b)				216			221			232
					787			809			871
	Subadvised and separate accounts and other investment
	products
	Equity			385			399			439
	Fixed income, including money market				91			90			90
	Multi-asset(b)			235			238			246
	Alternatives				42			42			42
					753			769			817
	Total assets under management			$	1,540		$	1,578		$	1,688
	Target date retirement products			$	369		$	376		$	391

1. Preliminary - subject to adjustment
2. 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.

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T. ROWE PRICE CONTACTS:
Public Relations	Investor Relations
Brian Lewbart	Linsley Carruth
410-345-2242	410-345-3717
[e-mail]	[e-mail]

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.

						As of
		Preliminary(a)
(in billions)			2/28/2022			1/31/2022		12/31/2021
U.S. mutual funds
Equity and blended assets		$	642		$	663		$	724
Fixed income, including money market			145			146			147
			787			809			871
Subadvised and separate accounts and other investment
products
Equity and blended assets			568			584			632
Fixed income, including money market			143			143			143
Alternatives			42			42			42
			753			769			817
Total assets under management		$	1,540		$	1,578		$	1,688
(a) Preliminary - subject to adjustment