T Rowe Price Japan Inc

Item 5 – Fees and Compensation

Investment Advisory Fees and Expenses. Investment advisory fees are typically calculated
as a percentage of assets under management (AUM). There are no additional fees charged by
Price Japan for delegation of investment management services to the other Price Advisers.
Fees may be negotiated or modified in light of a client’s special circumstances, pre-existing
relationship, asset levels, service requirements, anticipated future funding levels, portfolio
complexity, product or investment program or other factors or requirements. We sometimes
choose to waive all or a portion of our fee for a given period. Also, for fee calculation purposes,
we may aggregate the assets of multiple accounts for a client, or related client accounts, as
determined by Price Japan in its discretion, for the purpose of meeting available breakpoints
and resulting in a lower effective fee rate. The Price Advisers offer performance-based fee
arrangements for certain investment strategies.

Billing Practices. Price Japan generally bills clients in arrears based on quarter-end portfolio
valuations and may at the request of the client make alternate billing arrangements. Fees are
calculated using either the Price Advisers market value or the client’s custodian’s value. If a
client requests fees calculated using their custodian’s value, the Price Advisers relies on the
value provided and does not reconcile such value to the Price Advisers’ market value.

Our standard investment management agreement may be terminated by either party giving
notice to the other consistent with the terms set forth in the client’s agreement with Price Japan.
Fees payable will be prorated to the date of termination. Fees are also prorated for the initial
quarter of services to reflect the number of days Price Japan provides investment management
services.

Certain clients may pay fees in advance. In the event an investment management agreement
for a client paying fees in advance is terminated prior to the end of a quarter, clients will receive
a pro rata refund of prepaid fees for which advisory services were not provided.

If Price Japan is directed to invest an account’s cash reserves in a third-party short-term
investment fund or other pooled vehicle (collectively, STIF) offered by the custodian designated
by the client, the portion of the account invested in such STIF is included in the account’s
market value for billing purposes. In certain instances, the custodian may offer clients more than
one such STIF, of which Price Japan is permitted to select. Clients generally also pay fees to
the sponsor/adviser of such STIF. Price Japan oversees client STIF vehicle investments and
will alert clients if concerns about the performance or viability of the vehicle arise. However, the
availability of research and data on STIFs is generally limited.

PART 2A OF FORM ADV: FIRM BROCHURE                                      T. ROWE PRICE JAPAN, INC.
MARCH 31, 2026                                                                (Price Japan)

Certain clients authorize the Price Advisers to invest in certain investment vehicles (such as
mutual funds or ETFs), which may be subject to third-party management fees. These assets
are generally included in the account’s market value for billing purposes.

Clients may direct the Price Advisers to send statements for advisory fees directly to the client’s
designated custodian for payment.

Non-Advisory Fees and Expenses. Price Japan may include one or more of the Price Funds
in client portfolios, as authorized in client guidelines. Except as noted below, Price Japan and
its affiliates receive advisory fees from each Price Fund based on the value of the Price Fund’s
assets as disclosed in the prospectuses, copies of which are provided to clients prior to
investment. Price Japan generally excludes the value of Price Fund shares held in a client
account when the advisory fee is computed. However, certain fixed income TRP Mutual Funds
and common trust funds do not charge an advisory fee at the fund level and they are included in
the portfolio’s market value for billing purposes. Please see additional information regarding
commission expenses in Item 12 – Brokerage Practices.

Institutional Separate Accounts and Subadvisory Mutual Fund Management. The
following is a general description of the maximum investment advisory fee for investment
strategies offered by Price Japan for Institutional Separate Account and Subadvised Mutual
Fund management. Some strategies may only be available in certain regions or to investors
that meet certain legal criteria. The fee schedules are subject to change, may be negotiated
under certain circumstances and may differ across regions. Institutional Separate Accounts are
generally subject to a minimum asset size of $50 million, although certain strategies require a
higher amount. Price Japan may waive such minimums in its sole discretion. Additional fee
breakpoints are available at higher asset levels. Contact your relationship manager for
additional information. To provide clients some protection from large fee swings around fee
breakpoints, Price Japan will apply a transitional fee credit. A transitional fee credit is applied to
the fee schedule as assets approach or fall below the asset tiers or breakpoints. All fees are
shown in basis points (bps) and stated in U.S. Dollars except as otherwise noted.

                           Investment Suite                                 Maximum Fee
       Equity - Active Core                                                     20 bps
       Equity - Integrated                                                      55 bps
       Equity - Sector                                                          70 bps
       Global Equity                                                            60 bps
       International Equity - Developed Markets                                 95 bps
...

Item 7 – Types of Clients

Price Japan’s global client base includes banks and/or thrift institutions, corporations or other
business entities, governmental entities, insurance companies, investment companies, other
investment advisers, pension and profit-sharing plans, charitable organizations and non-U.S.
collective investment funds, among others.

Different strategies have different minimum account sizes. Please see Item 5 – Fees and
Compensation for minimum account sizes, which may be waived at our discretion.