Release Date: 06-30-2021 T. Rowe Price Growth Tr-A ...... Benchmark Overall Morningstar Rating™ Morningstar Return Morningstar Risk S&P 500 TR USD QQQQ Above Average Average Out of 1138 Large Growth investments. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure page for details.

Investment Information Performance as of 06-30-21 Investment Objective & Strategy 60 Total Return % The Trust seeks to provide -term capital growth and, 45 as of 06-30-21 Investment secondarily, increasing income through investments 30 Benchmark in the common of well-established growth 15 companies. The Trust focuses on companies having one or 0 more of the following characteristics: superior growth in -15 earnings and cash flow, the ability to sustain earnings -30 Average annual, if greater even during economic slowdowns, and the -45 than 1 year occupation of a lucrative niche in the economy and ability to YTD 1 Year 3 Year 5 Year 10 Year Since Inception expand even during times of slow economic growth. 15.08 43.71 22.86 24.12 17.97 12.94 Investment Return % Fees and Expenses as of 02-01-21 15.25 40.79 18.67 17.65 14.84 10.44 Benchmark Return % Prospectus Gross Expense Ratio 0.50 % ...... 12.38 41.70 22.56 21.98 15.99 10.82 Category Average % Total Annual Operating Exp per $1000 $ 5.00 . . QQQ QQQQ QQQQ . Morningstar Rating™ Maximum Sales Charge . . . 1138 1024 761 . # of Funds in Category 12b-1 Fee . Redemption Fee/Term . The performanceYTD data quotedYTD reflects pastYTD performanceYTD and is calculatedYTD according toYTD Morningstar’s methodology. For Portfolio Manager(s) new share classes of an investment, the performance reflected for periods prior to the inception date of such class may Joseph B. Fath, CPA. M.B.A., University of Pennsylvania have been calculated using the historical returns of the original share class, and in such cases is displayed in italics. The (Wharton). B.S., University of Illinois. historical returns of the original share class are adjusted to reflect differences in fees when the newer share class has higher fees than the oldest share class but are not adjusted when the newer class has lower fees. Past performance does Operations and Management not guarantee future results. The investment return and principal value of an investment will fluctuate so that an ’s Fund Inception Date 03-31-06 shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower than the Management Company T. Rowe Price performance data quoted. For the most recent month end performance information, please call 1-800-922-9945, or visit Telephone 410-345-2000 rps.troweprice.com. Web Site www.troweprice.com Issuer T. Rowe Price Portfolio Analysis

Category Description: Large Growth Composition as of 06-30-21 % Assets Morningstar Style Box™ as of 06-30-21 % Market Cap U.S. Stocks 87.6 Large Giant 61.87 Large-growth portfolios invest primarily in big U.S. companies ...... Non-U.S. Stocks 11.4 that are projected to grow faster than other large-cap stocks. Mid Large 29.51 Bonds 0.0 Stocks in the top 70% of the capitalization of the U.S. equity Medium 8.63

Cash 1.0 Small market are defined as large cap. Growth is defined based on Small 0.00 fast growth (high growth rates for earnings, sales, book Other 0.0 ...... Micro 0.00 value, and cash flow) and high valuations (high price ratios Value Blend Growth and low dividend yields). Most of these portfolios focus on companies in rapidly expanding industries. Top 10 Holdings as of 06-30-21 % Assets Morningstar Sectors as of 06-30-21 % Fund Amazon.com Inc 10.49 h Cyclical 29.16 And Risk ...... Microsoft Corp 9.09 r Basic Materials 0.78 Investment Facebook Inc Class A 5.85 t Consumer Cyclical 19.84 Low Moderate High Apple Inc 5.06 y Financial Services 8.54 Alphabet Inc Class A 3.88 Category ...... u Real Estate 0.00 Alphabet Inc Class C 3.87 j Sensitive 61.65 Best 3 Month Return Worst 3 Month Return Visa Inc Class A 2.96 ...... 27.88% -36.08% Mastercard Inc Class A 2.48 i Communication Services 24.01 (Apr '20 - Jun '20) (Sep '08 - Nov '08) Snap Inc Class A 2.15 o Energy 0.00 Sea Ltd ADR 2.12 p Industrials 6.77 Technology 30.87 ...... a k Defensive 9.21 Total Number of Stock Holdings 99 ...... Total Number of Bond Holdings 0 s Consumer Defensive 0.00 Turnover Ratio % 36.50 d Healthcare 9.21 Total Assets ($mil) 839.64 f Utilities 0.00

Principal Risks For more information on the risks presented, please refer to https://www2.troweprice.com/rms/rps/Marketing/Assets/OAAU130- RISK.pdf Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Capitalization, Active Management, Equity Securities, Industry and Sector Investing, Management

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