T. Rowe Price Emerging Europe Fund 12/31/2020 (Unaudited)

Portfolio of Investments

Investments in Securities Coupon % Maturity Shares/Par Value ($) % of Net Assets Allegro.eu 79,907 1,811,742 1.325% Alpha Bank 2,159,436 2,500,836 1.829% Bank Of Georgia 69,901 1,170,801 0.856% BIM Birlesik Magazalar 153,098 1,548,510 1.132% EPAM Systems 11,100 3,977,685 2.909% Gazprom, ADR 2,651,120 14,801,578 10.823% Georgia Capital 209,757 1,541,054 1.127% Halyk Savings Bank of Kazakhstan, GDR 340,793 3,972,064 2.904% Headhunter, ADR 70,067 2,119,527 1.550% Inter RAO UES PJSC 23,044,000 1,661,815 1.215% Jeronimo Martins 71,353 1,199,424 0.877% Kazakhstan Kagazy, GDR 327,395 0 0.000% Koc Holding 406,229 1,152,852 0.843% Komercni Banka 47,166 1,442,120 1.055% Lamda Development 141,720 1,229,565 0.899% Lukoil PJSC 201,244 14,011,597 10.246% Mail.Ru, GDR 240,266 6,296,786 4.604% MMC Norilsk Nickel 16,637 5,332,119 3.899% Mobile TeleSystems PJSC, ADR 362,700 3,246,165 2.374% Moneta Money Bank 322,372 1,021,358 0.747% Moscow Exchange MICEX-RTS PJSC 807,990 1,746,168 1.277% National Bank of Greece 1,149,558 3,147,161 2.301% Nova Ljubljanska Banka dd, GDR 154,607 1,698,466 1.242% Novatek PJSC, GDR 36,852 6,001,263 4.388% OTP Bank 135,080 6,087,323 4.451% Ozon Holdings, ADR 12,535 519,074 0.380% PKO Bank Polski 127,357 983,119 0.719% Polymetal International 161,371 3,714,794 2.716% Powszechny Zaklad Ubezpieczen 305,401 2,653,259 1.940% REI - SECURITY LENDING COLLATERAL 1,418 14,180 0.010% Sberbank of Russia 5,587,920 20,496,351 14.987% Surgutneftegas PJSC 3,139,900 1,542,596 1.128% Tatneft PJSC 637,128 4,439,628 3.246% TRP Government Reserve 0.08 378,824 378,824 0.277% Turkiye Garanti Bankasi 2,353,064 3,281,356 2.399% Wizz Air Holdings 31,740 1,981,695 1.449% X5 Retail Group, GDR 98,722 3,564,767 2.607% Yandex 45,100 3,138,058 2.295% Yandex 19,192 1,337,201 0.978%

Total Investments in Securities 136,762,883

NET ASSETS 136,756,422

NET ASSET VALUE PER SHARE

Emerging Europe Fund Shares 14.63 ($132,467,931 / 9,057,063 Shares Outstanding)

Emerging Europe Fund - I Class Shares 14.71 ($4,288,492 / 291,614 Shares Outstanding)

ADR American Depository Receipts ADS American Depository Shares AR Auction Rate security with an interest rate reset feature through a modified Dutch auction at predetermined short-term intervals; rate shown is effective rate at period end ARM Adjustable Rate Mortgage BAN Bond Anticipation Note CDA Community Development Administration CLN Credit Linked Note CMO Collateralized Mortgage Obligation COP Certificate of Participation DOT Department of Transportation EFA Educational Facility Authority ETC Equipment Trust Certificate

Page 1 of 2 FDR Fiduciary Depository Receipt FRN Floating Rate Note GDR Global Depository Receipts GDS Global Depository Shares GO General Obligation HDA Housing Development Authority HEFA Health & Education Facility Authority HFA Health Facility Authority HFC Housing Finance Corp HFFA Health Facility Financing Authority HHEFA Health & Higher Education Facility Authority IDA Industrial Development Authority/Agency IDB Industrial Development Bond IDC Industrial Development Corp IDRB Industrial Development Revenue Bond IO Interest Only security for which the fund receives interest on notional principal (par) PCR Pollution Control Revenue PFA Public Finance Authority PIK Payment-in-kind PTC Pass-Through Certificate RAC Revenue Anticipation Certificate RAN Revenue Anticipation Note RAW Revenue Anticipation Warrant REIT Real Estate Investment Trust RIB Residual interest bond issued by a third party securitization trust and purchased directly through a cash transaction that involved no exchange of previously held securities; rate varies inversely to short-term rates and the rate presented is the effective rate at period-end STEP Stepped coupon bond for which the coupon rate of interest will adjust on specified future dates(s) TAN Tax Anticipation Note TAW Tax Anticipation Warrant TBA To Be Announced purchase commitment TDFA Trade & Deposit Facility Agreement TECP Tax-Exempt Commercial Paper TRAN Tax Revenue Anticipation Note VR Variable Rate; rate shown is effective rate at period end VRDN Variable Rate Demand Note under which the holder has the right to sell the security to the issuer or the issuer's agent at a predetermined price (generally par) on specified dates upon required notification; rate shown is effective rate at period-end

Important Information The portfolio data contained herein is for informational purposes only and does not constitute a recommendation or an offer for a particular security or investment. Unlike the fund's regulatory filings, the portfolio data and its presentation in this document do not conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. The holdings are not audited and the information may differ in certain respects, such as derivatives exposure and security name, from the information found in the complete list of portfolio investments in the semiannual and annual shareholder reports and Form N-Q.

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