Equity Market Index Funds

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ANNUAL REPORT December 31, 2020

T. ROWE PRICE Equity Market Index Funds

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arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

HIGHLIGHTS

nn Each of the three Equity Market Index Funds produced strong returns in 2020 and closely tracked its benchmark.

nn The information technology and consumer discretionary sectors were two of the best-performing U.S. stock market segments for the year. In contrast, stocks in the energy, financials, utilities, and real estate sectors underperformed.

nn Using full replication and sampling strategies, we kept the composition and other attributes of the index funds similar to those of their benchmarks.

nn While the new vaccines and improved treatment therapies are encouraging signs for 2021—and while there is the potential for additional fiscal stimulus efforts—the economic effects of the pandemic are likely to echo for some time, and there could be uneven recoveries in different segments of the economy and different parts of the U.S.

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arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

CIO Market Commentary

Nearly all major stock and bond indexes produced positive results during 2020 as markets recovered from the steep sell-off that resulted from the spread of the coronavirus. Extraordinary fiscal and monetary support from global governments and central banks helped spur the rebound, although the pandemic continued to pose significant public health and economic challenges as the year came to an end. In the U.S., the large-cap Dow Jones Industrial Average and S&P 500 Index reached record highs, as did the technology-heavy Nasdaq Composite Index—a result that few would have predicted in late March after the benchmarks tumbled more than 30% as governments instituted lockdowns to try to halt the spread of the virus. Large-cap information technology and internet-related firms helped lead the rebound as they benefited from the work-from-home environment and an acceleration in demand for online services. Within the S&P 500, the technology and consumer discretionary sectors were the top performers, and communication services and materials stocks also outperformed. Despite a late rally, the energy sector trailed with significant losses due to a plunge in oil prices. Most equity markets outside the U.S. also performed well. Emerging markets outpaced developed markets, and Asian shares delivered strong results as China and other countries in the region proved relatively successful in containing the coronavirus. Growth stocks significantly outpaced their value counterparts for the full year; however, value shares rallied late in the period. Positive vaccine news in November raised hopes for a return to normalcy in 2021 and boosted sectors that had been beaten down in the initial phases of the pandemic. Within the fixed income universe, corporate bonds delivered strong results as the market easily absorbed a torrent of new issuance. After falling to record lows in March, intermediate- and longer-term Treasury yields ticked higher later in the year but remained very low by historical standards, a factor that encouraged investors to seek out riskier securities with higher return potential.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

While investors had reason to cheer the market’s recovery, the global economic outlook remained unclear as the year came to an end. Most notable on the positive side was the start of vaccine distributions, which provided hope that the pandemic was in its final phase. In addition, Congress passed a $900 billion coronavirus relief package, supplementing the $2.4 trillion allocated to address the crisis earlier in the year, and the Fed continued to pledge very accommodative monetary policies for the foreseeable future. Meanwhile, political uncertainty diminished with Joe Biden’s victory in the U.S. presidential election and the completion of a Brexit trade deal between the UK and the European Union. On the negative side, concerns about a resurgence in virus hospitalizations led to new lockdowns and business restrictions in many countries, which in turn appeared to threaten economic recoveries. In the U.S., after a strong recovery in the summer and fall, the pace of hiring slowed late in the year, and household spending declined in November for the first time since April. It was a remarkable 12-month period in many ways, but as far as markets are concerned, I can recall no calendar year that so starkly displayed evidence of both fear and greed. Fear emerged during the March sell-off and again in April as oil futures briefly traded in negative territory. Greed surfaced later as some assets seemed to continue to rally without fundamental support. Bitcoin rocketed to a record high of $29,000 by year-end, and the amount of money raised by initial public offerings also climbed to historic levels. While valuations are still attractive in some areas of the market, other sectors appear to have already priced in a strong rebound in earnings and are trading at elevated levels. There are both risks and potential rewards in this environment, and we believe strong fundamental analysis and skilled active security selection will remain critical components of investment success. Thank you for your continued confidence in T. Rowe Price.

Sincerely,

Robert Sharps Group Chief Investment Officer

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

Management’s Discussion of Fund Performance

EQUITY INDEX 500 FUND INVESTMENT OBJECTIVE

The fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization U.S. stocks.

FUND COMMENTARY

How did the fund perform in the past 12 months? Large-cap U.S. stocks fell sharply at the beginning of 2020 due to the spread of the coronavirus throughout the U.S. Stocks surged starting in late March, rebounding from deep first-quarter losses and lifting the S&P 500 Index to all-time highs in the second half of our fiscal year. The Equity Index 500 Fund returned 18.19% versus 18.40% for its benchmark, the S&P 500. Fund performance tends to slightly lag that of the index due to operating and management expenses. (Performance for the Z Class, which incepted in March, and the I Class PERFORMANCE COMPARISON shares will vary due to different fee structures. Past Total Return Periods Ended 12/31/20 6 Months 12 Months performance cannot guarantee future results.) Equity Index 500 Fund 22.07% 18.19% Equity Index 500 Fund‒I Class 22.14 18.34 What factors influenced the fund’s performance? Equity Index 500 Fund‒Z Class 22.17 59.62* S&P 500 Index 22.16 18.40 Most sectors in the S&P 500 produced positive returns for *Since inception on 3/16/20. 2020. Within our portfolio, information technology shares contributed the most to absolute returns. Apple was the top absolute contributor in the portfolio. Product demand remained strong, and the company released its much anticipated 5G iPhone during the fourth quarter. Software companies also performed very well amid heightened demand from businesses seeking software solutions to help their employees work from home during the pandemic. Microsoft and Adobe were outstanding contributors. Semiconductor-related companies also displayed solid returns, especially NVIDIA and Qualcomm. (Please refer to the portfolio of investments for a complete list of holdings and the amount each represents in the portfolio.)

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

Consumer discretionary shares also contributed significantly to the portfolio’s performance, with Amazon.com the top absolute contributor by far. Amazon was a major beneficiary of lockdown restrictions and business closures put in place by local governments during the worst of the pandemic, as consumers turned to Amazon for online purchases. Specialty retailers Home Depot and Lowe’s also had a very strong 2020, as many homeowners worked on “do it yourself” home projects during the year. In contrast, companies that operate hotels, resorts, and cruises were poor performers due to diminished business and vacation travel. Communication services stocks did well throughout the year. Interactive media and services companies Facebook and Alphabet (the parent company of Google) were significant contributors in the sector, while entertainment providers Netflix and Walt Disney benefited from increased demand for their content streaming services. Traditional telecommunication services providers AT&T and Verizon Communications underperformed. Health care stocks were solid contributors in 2020. Equipment and supply companies fared best, especially Danaher and Abbott Laboratories. Life sciences company Thermo Fisher Scientific, which provides technologies and services to various parties in the health care sector and the scientific community, was another outstanding contributor. Biotechnology and pharmaceutical companies lagged, though they produced gains in aggregate for the full year. Conversely, energy companies detracted the most in absolute terms, even though the sector is a very small portion of the index and the portfolio. Oil and gas companies posted significant losses, as a rapid deceleration of global economic activity and a global glut of oil helped push oil prices in the spring to lows not seen in many years before they rebounded later in the year. Oil majors ExxonMobil, Chevron, and ConocoPhillips were among the largest detractors in the entire portfolio. Energy equipment companies also lost value, especially Schlumberger. Financial shares were widely mixed but detracted from portfolio returns in aggregate. Commercial banks were major laggards and weighed heavily on portfolio returns, hurt by the economic downturn and very low interest rates that diminish profitability from loans. Wells Fargo, JPMorgan Chase, and Bank of America were some of the most significant detractors in the banking industry. In contrast, several capital markets companies performed well, such as asset manager BlackRock, Morgan Stanley, and index provider MSCI.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

Real estate-related stocks generally declined in what was a challenging year for owners of hotels, apartments, and various other properties due to business closures and reduced customer activity. Most of our holdings in the sector are real estate investment trusts; one of the portfolio’s largest detractors in absolute terms was Simon Property Group, which owns various dining, shopping, and entertainment properties. SECTOR DIVERSIFICATION A few holdings held up Periods Ended 6/30/20 12/31/20 well, however, including Weyerhaeuser, which Information Technology 27.4% 27.5% benefited from a spike in Health Care 14.6 13.4 demand for the company’s Consumer Discretionary 10.8 12.7 wood products for new Communication Services 10.8 10.7 home construction, and Financials 10.1 10.4 wireless tower operators SBA Communications and Industrials and Crown Castle International. Business Services 8.0 8.4 Consumer Staples 7.0 6.5 Utilities stocks mostly Utilities 3.0 2.8 declined for the year. They usually hold up relatively Materials 2.4 2.6 well in economic downturns. Real Estate 2.8 2.4 They are generally stable Energy 2.8 2.3 and highly regulated Other and Reserves 0.3 0.3 businesses and often Total 100.0% 100.0% have attractive dividends. However, when equity Historical weightings reflect current industry/sector markets are rising sharply, classifications. as they did since late March, defensive stocks typically underperform. While most of our utilities stocks declined, American Water Works and NextEra Energy did relatively well for the year. The former is the largest publicly traded water and wastewater company in the U.S. and is an environmental leader by reducing water usage and greenhouse gas emissions. The latter owns two businesses, one of which is a leading generator of wind and solar power in North America.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

TOTAL EQUITY MARKET INDEX FUND INVESTMENT OBJECTIVE

The fund seeks to match the performance of the entire U.S. stock market.

FUND COMMENTARY

How did the fund perform in the past 12 months? U.S. stocks fell sharply at the beginning of 2020 due to the spread of the coronavirus throughout the U.S. Stocks surged starting in late March, rebounding from deep first-quarter losses and lifting major stock indexes to all- time highs in the second half of our fiscal year. The Total Equity Market Index Fund returned 19.82% versus 20.79% for its benchmark, the S&P Total Market Index. Fund performance tends to slightly lag that of the index due to operating and management expenses. PERFORMANCE COMPARISON (Past performance cannot guarantee future results.) Total Return Periods Ended 12/31/20 6 Months 12 Months What factors influenced the Total Equity Market fund’s performance? Index Fund 24.62% 19.82% Most sectors in the S&P S&P Total Market Index 25.17 20.79 Total Market Index produced positive returns for 2020. Within our portfolio, information technology (IT) shares contributed the most to absolute returns. Apple was the top absolute contributor in the portfolio, but software companies, especially Microsoft and Adobe, performed very well amid heightened demand from businesses seeking software solutions to help their employees work from home during the pandemic. IT services companies PayPal Holdings, Visa, and Mastercard also did well, as consumers increasingly used electronic means of making bill payments and purchases during the pandemic. (Please refer to the portfolio of investments for a complete list of holdings and the amount each represents in the portfolio.) Consumer discretionary shares also contributed significantly to performance, though gains were concentrated in a fairly small number of holdings. Amazon.com, for example, was a major beneficiary of business closures that prompted consumers to use online shopping, while specialty retailers Home Depot and Lowe’s benefited from homeowners’ greater focus on home improvement projects during the pandemic. Shares of automobile maker

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

Tesla surged amid greater interest in electric cars; toward the end of the year, it joined the large-cap S&P 500 Index as one of its largest components. Companies that operate hotels, resorts, and cruises were among the largest underperformers in the sector due to diminished business and vacation travel. Communication services stocks also performed well; as with the consumer discretionary sector, gains were concentrated in a relatively small number of stocks. Alphabet (the parent company of Google) was a major contributor to performance, as were social media companies Facebook and Snap. The latter operates Snapchat, an image and video communication tool that is especially popular among younger users. The company has been benefiting from increased user growth and engagement in response to social distancing measures. While entertainment providers Netflix and Walt Disney benefited from increased demand for their content streaming services, a number of traditional media companies underperformed. On the other hand, energy companies detracted the most in absolute terms amid weaker global demand and abundant supplies that weighed significantly on oil prices early in the year. Oil majors were among the largest detractors in the entire portfolio, especially SECTOR DIVERSIFICATION ExxonMobil. Most energy equipment and services Periods Ended 6/30/20 12/31/20 firms, such as exploration Information Technology 26.0% 27.0% and production companies, Health Care 14.4 13.9 also fared poorly. Consumer Discretionary 11.0 12.4 In the financials sector, banks Financials 10.4 10.7 fared poorly, especially major Communication Services 9.7 9.8 money center banks, due Industrials and to economic weakness and Business Services 8.3 9.1 very low interest rates. Stocks of insurance companies Consumer Staples 6.1 5.7 were mostly lower, but Real Estate 3.5 3.0 Progressive and Aon bucked Materials 2.6 2.8 the negative trend. Among Utilities 2.7 2.5 capital markets companies, Energy 2.6 2.0 trust banks such as State Street underperformed, Other and Reserves 2.7 1.1 but asset managers, such Total 100.0% 100.0% as BlackRock, and credit Historical weightings reflect current industry/sector rating agencies, including classifications. S&P Global, were among the better performers.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

Real estate-related stocks generally declined in what was a challenging year for owners of commercial properties due to business closures and reduced customer activity. Among real estate investment trusts, Simon Property Group, which owns various dining, shopping, and entertainment properties, did poorly, but Weyerhaeuser fared well as housing market strength led to increased demand for wood products. Florida-based real estate developer St. Joe also performed favorably for the year.

EXTENDED EQUITY MARKET INDEX FUND INVESTMENT OBJECTIVE

The fund seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization U.S. stocks.

FUND COMMENTARY

How did the fund perform in the past 12 months?

PERFORMANCE COMPARISON Small- and mid-cap U.S. stocks recovered from deep Total Return first-quarter losses and Periods Ended 12/31/20 6 Months 12 Months produced excellent returns Extended Equity Market in 2020. The Extended Index Fund 39.14% 30.82% Equity Market Index Fund S&P Completion Index 40.01 32.17 returned 30.82% versus 32.17% for its benchmark, the S&P Completion Index. Fund performance tends to slightly lag that of the index due to operating and management expenses. (Past performance cannot guarantee future results.) What factors influenced the fund’s performance? In the small- and mid-cap universe, consumer discretionary stocks contributed the most to fund performance in absolute terms. Automaker Tesla, which produced stellar returns in 2020 and was moved into the large-cap S&P 500 Index near the end of the year, accounted for the lion’s share of the sector’s gain. Other companies that contributed, but to a much lesser extent, include athletic apparel maker lululemon athletica, online home goods retailer Wayfair, and exercise equipment maker Peloton Interactive. These companies benefited from significant increases in demand for their products as consumers stayed home during the pandemic. (Please refer to the portfolio of investments for a complete list of holdings and the amount each represents in the portfolio.)

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

In the information technology sector, a number of software companies were top contributors to performance, including DocuSign, which enables people to sign and store documents electronically; Workday, a global provider of cloud back-office software with a focus on human capital management and financial management; and Five9, a leading provider of cloud contact center software. Stocks of IT services and semiconductor-related companies also produced good returns. Communications equipment companies were laggards. In the health care sector, biotechnology stocks were some of the most significant contributors to absolute performance, especially Moderna. Shares soared as the company rapidly created a coronavirus vaccine that had a high efficacy rate in drug trials and was granted emergency use authorization by the Food and Drug Administration in December. In the equipment and supply industry, performance was boosted by DexCom, which makes continuous glucose monitoring systems for the treatment of diabetes. The company was added to the large-cap S&P 500 in May, and we eliminated it from the fund. Pharmaceutical stocks lagged, though MyoKardia, which creates therapies for treating cardiovascular diseases and was acquired by Bristol-Myers Squibb, and Horizon Therapeutics, whose TEPEZZA drug for treating thyroid eye disease was approved by SECTOR DIVERSIFICATION regulators at the beginning of 2020, were significant Periods Ended 6/30/20 12/31/20 performance contributors. Information Technology 20.9% 25.1% On the other hand, real Health Care 15.4 16.1 estate-related stocks were Industrials and among the largest detractors Business Services 11.4 13.0 from performance in what Financials 13.8 12.9 was a challenging year for Consumer Discretionary 13.2 10.9 many, though not all, owners Real Estate 7.4 6.4 of commercial properties. In the financials sector, Communication Services 4.6 5.9 many regional banks and Materials 3.6 3.5 smaller insurance companies Consumer Staples 2.6 2.7 struggled. However, Utilities 2.3 2.0 several capital markets Energy 1.5 1.4 companies performed very Other and Reserves 3.3 0.1 well, especially private equity managers KKR and Total 100.0% 100.0% Blackstone. Energy and Historical weightings reflect current industry/sector utilities stocks generally classifications. declined for the year.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

How are the Equity Market Index Funds positioned? The Equity Market Index Funds, which tend to closely track their benchmarks, offer broad exposure to different sectors of the U.S. stock market, and their sector allocations are consistent with those of their benchmarks. As such, changes in each portfolio’s sector diversification and other overall characteristics reflect changes in the composition of the indexes, rather than strategic shifts that are typical of an actively managed fund. Since the portfolios are designed to track their indexes, they do not have the flexibility to shift assets toward stocks or sectors that are rising or away from those that are declining. The funds’ expenses are generally low, which allows investors to retain more of their returns. As a reminder, the Equity Market Index Funds are designed for investors who want to harness the potential for long-term capital appreciation from broad exposure to large-cap U.S. stocks, the entire U.S. stock market, or small- and mid-cap U.S. stocks. The portfolios could serve as core holdings in an investor’s portfolio, as they offer attributes that many investors will find appealing. The Equity Index 500 Fund uses a full replication strategy, which involves investing substantially all of its assets in all of the stocks in the S&P 500. The fund seeks to maintain holdings of each stock in proportion to its weight in the index. The Total Equity Market Index Fund and the Extended Equity Market Index Fund use a sampling strategy, which involves investing substantially all of their assets in a group of stocks representative of the sector allocations, financial characteristics, and other attributes of the S&P Total Market Index and S&P Completion Index, respectively. These two funds do not attempt to fully replicate their indexes by owning each of the stocks in them. All three index funds may occasionally invest in securities such as futures and exchange-traded funds so that they can accommodate cash flows and remain fully invested. What is portfolio management’s outlook? The year 2020 was a remarkably robust year for the stock market given the pandemic and related economic dislocations. After such an extraordinary year, we believe it is prudent for equity investors to keep their 2021 performance expectations in check. Although most global economies saw a relatively rapid economic rebound from the initial onset of the pandemic, the world still has not returned to normal. As 2020 approached its end, a major spike in coronavirus cases in the U.S. and Europe posed a renewed threat to the recovery. While the new vaccines and improved treatment therapies are encouraging signs for 2021—and while there is the potential for additional

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

fiscal stimulus efforts—the economic effects of the pandemic are likely to echo for some time, and there could be uneven recoveries in different segments of the economy and different parts of the U.S. Regardless of economic or financial market developments or changes in investor sentiment, we will not attempt to determine which stocks or sectors are likely to perform best. Our main task is to use full replication or sampling strategies so that the Equity Market Index Funds are structured like major U.S. equity indexes and closely track their performance.

The views expressed reflect the opinions of T. Rowe Price as of the date of this report and are subject to change based on changes in market, economic, or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

RISKS OF INVESTING IN THE EQUITY MARKET INDEX FUNDS

Common stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of a stock in which the funds invest may decline due to general weakness in the U.S. stock market, such as when the U.S. financial markets decline, or because of factors that affect a particular company or industry. Although stocks issued by larger companies tend to have less overall volatility than stocks issued by smaller companies, larger companies may not be able to attain the high growth rates of successful smaller companies, especially during strong economic periods. In addition, larger companies may be less capable of responding quickly to competitive challenges and industry changes and may suffer sharper price declines as a result of earnings disappointments. Funds that invest in small and medium-sized companies could be more volatile than funds that are exposed to only large companies. Small and medium-sized companies often have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies. Smaller companies may have limited trading markets and tend to be more sensitive to changes in overall economic conditions. Because the funds are passively managed, holdings are generally not reallocated based on changes in market conditions or the outlook for a specific security, industry, or market sector. As a result, the funds’ performance may lag the performance of actively managed funds. Funds that use a sampling strategy (and thus do not attempt to fully replicate their benchmark indexes) have a greater potential for their performance to deviate from that of their benchmarks.

BENCHMARK INFORMATION

Note: ©2021, S&P Global Market Intelligence. Reproduction of any information, data or material, including ratings (“Content”) in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers (“Content Providers”) do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

PORTFOLIO HIGHLIGHTS

TWENTY-FIVE LARGEST HOLDINGS

Percent of Net Assets Equity Index 500 Fund 12/31/20 Apple 6.7% Microsoft 5.3 Amazon.com 4.4 Alphabet 3.3 Facebook 2.1 Tesla 1.7 Berkshire Hathaway 1.4 Johnson & Johnson 1.3 JPMorgan Chase 1.2 Visa 1.2 Procter & Gamble 1.1 UnitedHealth Group 1.0 Walt Disney 1.0 NVIDIA 1.0 Mastercard 1.0 Home Depot 0.9 PayPal Holdings 0.9 Verizon Communications 0.8 Adobe 0.8 Comcast 0.8 Netflix 0.8 Bank of America 0.7 Coca-Cola 0.7 Merck 0.7 AT&T 0.6 Total 41.4%

Note: The information shown does not reflect any exchange-traded funds (ETFs), cash reserves, or collateral for securities lending that may be held in the portfolio.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

PORTFOLIO HIGHLIGHTS

TWENTY-FIVE LARGEST HOLDINGS

Percent of Net Assets Total Equity Market Index Fund 12/31/20 Apple 5.5% Microsoft 4.3 Amazon.com 3.6 Alphabet 2.7 Facebook 1.7 Tesla 1.3 Berkshire Hathaway 1.1 Johnson & Johnson 1.0 Visa 1.0 JPMorgan Chase 1.0 Walt Disney 0.9 UnitedHealth Group 0.9 Procter & Gamble 0.9 NVIDIA 0.8 Mastercard 0.8 Home Depot 0.7 PayPal Holdings 0.7 Netflix 0.7 Comcast 0.6 Verizon Communications 0.6 Bank of America 0.6 Adobe 0.6 Coca-Cola 0.6 Pfizer 0.6 Salesforce.com 0.5 Total 33.7%

Note: The information shown does not reflect any exchange-traded funds (ETFs), cash reserves, or collateral for securities lending that may be held in the portfolio.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

PORTFOLIO HIGHLIGHTS

TWENTY-FIVE LARGEST HOLDINGS

Percent of Net Assets Extended Equity Market Index Fund 12/31/20 Square 1.2% Uber Technologies 1.0 Zoom Video Communications 1.0 Twilio 0.7 Snap 0.7 NXP Semiconductors 0.6 Blackstone 0.6 Workday 0.6 lululemon athletica 0.6 Liberty Broadband 0.6 Crowdstrike Holdings 0.6 DocuSign 0.6 Peloton Interactive 0.6 Match 0.6 Veeva Systems 0.5 Roku 0.5 CoStar Group 0.5 The Trade Desk 0.5 Pinterest 0.5 Moderna 0.5 Palo Alto Networks 0.5 Marvell Technology Group 0.5 RingCentral 0.4 Okta 0.4 Splunk 0.4 Total 15.2%

Note: The information shown does not reflect any exchange-traded funds (ETFs), cash reserves, or collateral for securities lending that may be held in the portfolio.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

GROWTH OF $10,000

This chart shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The result is compared with benchmarks, which include a broad-based market index and may also include a peer group average or index. Market indexes do not include expenses, which are deducted from fund returns as well as mutual fund averages and indexes.

EQUITY INDEX 500 FUND

$37,000 31,600 26,200 20,800 15,400 10,000

12/10 12/11 12/12 12/13 12/14 12/15 12/16 12/17 12/18 12/19 12/20

As of 12/31/20 Equity Index 500 Fund $35,846 S&P 500 Index 36,700 Note: Performance for the I and Z Class shares will vary due to their differing fee structures. See the Average Annual Compound Total Return table. AVERAGE ANNUAL COMPOUND TOTAL RETURN

Since Inception Periods Ended 12/31/20 1 Year 5 Years 10 Years Inception Date Equity Index 500 Fund 18.19% 14.98% 13.62% ‒ ‒ Equity Index 500 Fund‒I Class 18.34 15.14 ‒ 14.83% 8/28/15 Equity Index 500 Fund‒Z Class ‒ ‒ ‒ 59.62* 3/16/20

The fund’s performance information represents only past performance and is not necessarily an indication of future results. Current performance may be lower or higher than the performance data cited. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. For the most recent month-end performance, please visit our website (troweprice.com) or contact a T. Rowe Price representative at 1-800-225-5132 or, for I and Z Class shares, 1-800-638-8790. This table shows how the fund would have performed each year if its actual (or cumulative) returns for the periods shown had been earned at a constant rate. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares. When assessing performance, investors should consider both short- and long-term returns. *Returns for periods of less than 1 year are not annualized.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

GROWTH OF $10,000

TOTAL EQUITY MARKET INDEX FUND

$37,000 31,600 26,200 20,800 15,400 10,000

12/10 12/11 12/12 12/13 12/14 12/15 12/16 12/17 12/18 12/19 12/20

As of 12/31/20 Total Equity Market Index Fund $35,469 S&P Total Market Index 36,200

AVERAGE ANNUAL COMPOUND TOTAL RETURN

Periods Ended 12/31/20 1 Year 5 Years 10 Years Total Equity Market Index Fund 19.82% 15.01% 13.50%

The fund’s performance information represents only past performance and is not necessarily an indication of future results. Current performance may be lower or higher than the performance data cited. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. For the most recent month-end performance, please visit our website (troweprice.com) or contact a T. Rowe Price representative at 1-800-225-5132. This table shows how the fund would have performed each year if its actual (or cumulative) returns for the periods shown had been earned at a constant rate. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares. When assessing performance, investors should consider both short- and long-term returns.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

GROWTH OF $10,000

EXTENDED EQUITY MARKET INDEX FUND

$37,000 31,600 26,200 20,800 15,400 10,000

12/10 12/11 12/12 12/13 12/14 12/15 12/16 12/17 12/18 12/19 12/20

As of 12/31/20 Extended Equity Market Index Fund $34,083 S&P Completion Index 34,308

AVERAGE ANNUAL COMPOUND TOTAL RETURN

Periods Ended 12/31/20 1 Year 5 Years 10 Years Extended Equity Market Index Fund 30.82% 15.60% 13.05%

The fund’s performance information represents only past performance and is not necessarily an indication of future results. Current performance may be lower or higher than the performance data cited. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. For the most recent month-end performance, please visit our website (troweprice.com) or contact a T. Rowe Price representative at 1-800-225-5132. This table shows how the fund would have performed each year if its actual (or cumulative) returns for the periods shown had been earned at a constant rate. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares. When assessing performance, investors should consider both short- and long-term returns.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

EXPENSE RATIO

Equity Index 500 Fund 0.19% Equity Index 500 Fund‒I Class 0.06 Equity Index 500 Fund‒Z Class 0.06 Total Equity Market Index Fund 0.30 Extended Equity Market Index Fund 0.35

The expense ratios shown are as of the funds’ most recent prospectus. These numbers may vary from the expense ratios shown elsewhere in this report because they are based on a different time period and, if applicable, include acquired fund fees and expenses but do not include fee or expense waivers.

FUND EXPENSE EXAMPLE As a mutual fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees or sales loads, and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other fund expenses. The following example is intended to help you understand your ongoing costs (in dollars) of investing in the fund and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the most recent six-month period and held for the entire period. Please note that the Equity Index 500 Fund has three share classes: The original share class (Investor Class) charges no distribution and service (12b-1) fee, I Class shares are also available to institutionally oriented clients and impose no 12b-1 or administrative fee payment, and Z Class shares are offered only to funds advised by T. Rowe Price and other advisory clients of T. Rowe Price or its affiliates that are subject to a contractual fee for investment management services and impose no 12b-1 fee or administrative fee payment. Each share class is presented separately in the table.

Actual Expenses The first line of the following table (Actual) provides information about actual account values and actual expenses. You may use the information on this line, together with your account balance, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number on the first line under the heading “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes The information on the second line of the table (Hypothetical) is based on hypothetical account values and expenses derived from the fund’s actual expense ratio and an assumed 5% per year rate of return before expenses (not the fund’s actual return). You may compare the ongoing costs of investing in the fund with other funds by contrasting this 5% hypothetical example and the 5% hypothetical examples that appear in the shareholder reports of the other funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

FUND EXPENSE EXAMPLE (CONTINUED) Note: T. Rowe Price charges an account service fee that is not included in the accompanying table. The account service fee is charged on a quarterly basis, usually during the last week of a calendar quarter, and applies to accounts with balances below $10,000 on the day of the assessment. The fee is charged to accounts that fall below $10,000 for any reason, including market fluctuations, redemptions, or exchanges. When an account with less than $10,000 is closed either through redemption or exchange, the fee is charged and deducted from the proceeds. The fee applies to IRAs but not to retirement plans directly registered with T. Rowe Price Services or accounts maintained by intermediaries through NSCC® Networking. If you are subject to the fee, keep it in mind when you are estimating the ongoing expenses of investing in the fund and when comparing the expenses of this fund with other funds. You should also be aware that the expenses shown in the table highlight only your ongoing costs and do not reflect any transaction costs, such as redemption fees or sales loads. Therefore, the second line of the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. To the extent a fund charges transaction costs, however, the total cost of owning that fund is higher.

EQUITY INDEX 500 FUND

Beginning Ending Expenses Paid Account Value Account Value During Period* 7/1/20 12/31/20 7/1/20 to 12/31/20 Investor Class Actual $1,000.00 $1,220.70 $0.95 Hypothetical (assumes 5% return before expenses) 1,000.00 1,024.28 0.87 I Class Actual 1,000.00 1,221.40 0.34 Hypothetical (assumes 5% return before expenses) 1,000.00 1,024.83 0.31 Z Class Actual 1,000.00 1,221.70 0.00 Hypothetical (assumes 5% return before expenses) 1,000.00 1,025.14 0.00

*Expenses are equal to the fund’s annualized expense ratio for the 6-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year (184), and divided by the days in the year (366) to reflect the half-year period. The annualized expense ratio of the Investor Class was 0.17%, the I Class was 0.06%, and the Z Class was 0.00%.

arexc_1220_P3Proof # T. ROWE PRICE Equity Market Index Funds

FUND EXPENSE EXAMPLE (CONTINUED)

TOTAL EQUITY MARKET INDEX FUND

Beginning Ending Expenses Paid Account Value Account Value During Period* 7/1/20 12/31/20 7/1/20 to 12/31/20 Actual $1,000.00 $1,246.20 $1.69 Hypothetical (assumes 5% return before expenses) 1,000.00 1,023.63 1.53

*Expenses are equal to the fund’s annualized expense ratio for the 6-month period (0.30%), multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year (184), and divided by the days in the year (366) to reflect the half-year period.

EXTENDED EQUITY MARKET INDEX FUND

Beginning Ending Expenses Paid Account Value Account Value During Period* 7/1/20 12/31/20 7/1/20 to 12/31/20 Actual $1,000.00 $1,391.40 $2.10 Hypothetical (assumes 5% return before expenses) 1,000.00 1,023.38 1.78

*Expenses are equal to the fund’s annualized expense ratio for the 6-month period (0.35%), multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year (184), and divided by the days in the year (366) to reflect the half-year period.

arexc_1220_P3Proof # You have many investment goals.

Explore products and services that can help you achieve them. Whether you want to put away more money for retirement, for a child’s education, or for other priorities, we have solutions for you. See how we can help you accomplish the investment goals that are important to you.

RETIREMENT GENERAL INVESTING COLLEGE SAVINGS

n IRAs: Traditional, Roth, n Individual or Joint n T. Rowe Price-managed Rollover/Transfer, or Tenant 529 plans offer tax- Brokerage n Brokerage2 offers advantaged solutions n Small Business Plans access to stocks, ETFs, for families saving help minimize taxes, bonds, and more money for college tuition and education- maximize savings n Gifts and transfers to a related expenses n T. Rowe Price® child (UGMA/UTMAs) 1 ActivePlus Portfolios n Trust for online investing n powered by experts Transfer on Death Visit troweprice.com/broadrange

Call 1-800-225-5132 to request a prospectus or summary prospectus; each includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. All mutual funds are subject to market risk, including possible loss of principal. Investing internationally involves special risks including economic and political uncertainty and currency fluctuation. 1 The T. Rowe Price® ActivePlus Portfolios is a discretionary investment management program provided by T. Rowe Price Advisory Services, Inc., a registered investment adviser under the Investment Advisers Act of 1940. Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC. T. Rowe Price Advisory Services, Inc., and T. Rowe Price Investment Services, Inc., are affiliated companies. 2 Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC.

202102-1444720 C50-050 2/21 T. Rowe Price Investment Services, Inc. | 100 East Pratt Street | Baltimore, MD 21202-1009

arexc_1220_P3Proof # ANNUAL REPORT | Financial Statements December 31, 2020

PEXMX

T. ROWE PRICE Extended Equity Market Index Fund

For more insights from T. Rowe Price investment professionals, go to troweprice.com.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

FINANCIAL HIGHLIGHTS For a share outstanding throughout each period

Year Ended 12/31/20 12/31/19 12/31/18 12/31/17 12/31/16 NET ASSET VALUE Beginning of period $ 29.25 $ 23.98 $ 28.20 $ 25.27 $ 23.06

Investment activities Net investment income(1) (2) 0.24 0.32 0.34 0.28 0.30 Net realized and unrealized gain/loss 8.74 6.30 (2.96) 4.24 3.40 Total from investment activities 8.98 6.62 (2.62) 4.52 3.70

Distributions Net investment income (0.24) (0.31) (0.31) (0.32) (0.29) Net realized gain (0.87) (1.04) (1.29) (1.27) (1.20) Total distributions (1.11) (1.35) (1.60) (1.59) (1.49)

NET ASSET VALUE End of period $ 37.12 $ 29.25 $ 23.98 $ 28.20 $ 25.27

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

FINANCIAL HIGHLIGHTS For a share outstanding throughout each period

Year Ended 12/31/20 12/31/19 12/31/18 12/31/17 12/31/16

Ratios/Supplemental Data

Total return(2) (3) 30.82% 27.70% (9.66)% 17.96% 15.97%

Ratios to average net assets:(2) Gross expenses before waivers/payments by Price Associates 0.35% 0.35% 0.35% 0.35% 0.35% Net expenses after waivers/payments by Price Associates 0.35% 0.35% 0.35% 0.35% 0.35% Net investment income 0.83% 1.13% 1.17% 1.04% 1.27%

Portfolio turnover rate 35.9% 17.4% 20.9% 23.2% 22.2% Net assets, end of period (in thousands) $ 1,161,458 $ 938,905 $ 758,328 $ 861,425 $ 789,341

(1) Per share amounts calculated using average shares outstanding method. (2) See Note 6 for details of expense-related arrangements with Price Associates. (3) Total return reflects the rate that an investor would have earned on an investment in the fund during each period, assuming reinvestment of all distributions, and payment of no redemption or account fees, if applicable.

The accompanying notes are an integral part of these financial statements.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

December 31, 2020

PORTFOLIO OF INVESTMENTS‡ Shares/Par $ Value (Cost and value in $000s)

COMMON STOCKS 99.9%

COMMUNICATION SERVICES 5.9%

Diversified Telecommunication Services 0.5% Bandwidth, Class A (1)(2) 3,000 461 Cincinnati Bell (1) 17,100 261 Cogent Communications Holdings 9,000 539 IDT, Class B (1) 5,342 66 Iridium Communications (1) 13,518 532 Liberty Global, Class A (1) 25,434 616 Liberty Global, Series C (1) 54,828 1,297 Liberty Latin America, Class A (1) 629 7 Liberty Latin America, Class C (1) 12,538 139 ORBCOMM (1) 104,100 772 Vonage Holdings (1) 40,400 520 5,210 Entertainment 1.1% AMC Entertainment Holdings, Class A (2) 138,700 294 Cinemark Holdings (2) 38,213 665 Glu Mobile (1) 52,000 469 Liberty Media - Liberty Formula One, Class A (1) 7,700 293 Liberty Media - Liberty Formula One, Class C (1) 39,100 1,666 Lions Gate Entertainment, Class B (1) 24,300 252 Madison Square Garden Entertainment (1) 5,321 559 Madison Square Garden Sports (1) 3,021 556 Roku (1) 18,114 6,014 Warner Music Group, Class A (2) 13,700 520 World Wrestling Entertainment, Class A 9,800 471 Zynga, Class A (1) 157,837 1,558 13,317 Interactive Media & Services 2.5% Cargurus (1) 16,300 517 Cars.com (1) 17,600 199 Eventbrite, Class A (1)(2) 13,600 246

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

IAC/InterActiveCorp (1) 12,430 2,354 Match Group (1) 42,928 6,490 Pinterest, Class A (1) 86,000 5,668 Snap, Class A (1) 151,842 7,603 TripAdvisor (1) 17,900 515 TrueCar (1) 80,700 339 Yelp (1) 9,800 320 Zedge, Class B (1) 4,980 30 Zillow Group, Class A (1) 9,241 1,256 Zillow Group, Class C (1)(2) 24,282 3,152 ZoomInfo Technologies, Class A (1)(2) 12,900 622 29,311 Media 1.7% Altice USA, Class A (1) 44,500 1,685 Cable One 1,000 2,228 Cardlytics (1)(2) 6,834 976 Clear Channel Outdoor Holdings (1) 204,900 338 EW Scripps, Class A 18,145 277 John Wiley & Sons, Class A 9,270 423 Liberty Broadband, Class A (1) 5,575 878 Liberty Broadband, Class C (1) 38,339 6,072 Liberty Media - Liberty SiriusXM, Class A (1) 10,900 471 Liberty Media - Liberty SiriusXM, Class C (1) 25,417 1,106 Media General, CVR (1)(3) 21,600 2 MSG Networks, Class A (1)(2) 9,664 142 New York Times, Class A 24,200 1,253 Nexstar Media Group, Class A 4,797 524 Scholastic 5,020 125 Sinclair Broadcast Group, Class A 20,510 653 Sirius XM Holdings (2) 254,087 1,619 TechTarget (1) 2,600 154 TEGNA 20,910 292 Tribune Publishing 12,900 177 19,395 Wireless Telecommunication Services 0.1% Shenandoah Telecommunications 10,800 467

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Telephone & Data Systems 15,900 295 United States Cellular (1) 7,693 236 998 Total Communication Services 68,231 CONSUMER DISCRETIONARY 10.9%

Auto Components 1.0% Adient (1) 18,900 657 Autoliv 11,600 1,068 Cooper Tire & Rubber 3,300 134 Dana 26,600 519 Dorman Products (1) 5,500 478 Fox Factory Holding (1) 7,500 793 Gentex 37,120 1,260 Gentherm (1) 9,300 607 Goodyear Tire & Rubber 36,400 397 Horizon Global (1) 46,100 396 LCI Industries 4,200 545 Lear 9,000 1,431 Motorcar Parts of America (1) 9,700 190 Standard Motor Products 8,150 330 Stoneridge (1) 14,100 426 Tenneco, Class A (1) 28,050 297 Veoneer (1)(2) 16,000 341 Visteon (1) 6,200 778 Workhorse Group (1)(2) 21,400 423 11,070 Automobiles 0.2% Harley-Davidson 21,700 796 Thor Industries (2) 10,900 1,014 Winnebago Industries 7,420 445 2,255 Distributors 0.0% Core-Mark Holding 11,690 343 343

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Diversified Consumer Services 0.9% Adtalem Global Education (1) 12,200 414 Bright Horizons Family Solutions (1) 11,189 1,936 Carriage Services 7,200 225 Chegg (1) 21,500 1,942 Franchise Group (2) 6,400 195 frontdoor (1) 14,750 741 Graham Holdings, Class B 900 480 Grand Canyon Education (1) 7,900 736 H&R Block 12,300 195 Laureate Education, Class A (1) 20,200 294 Service Corp. International 33,131 1,627 Strategic Education 5,125 489 Terminix Global Holdings (1) 25,200 1,285 Vivint Smart Home (1) 7,300 151 WW International (1) 14,500 354 11,064 Hotels, Restaurants & Leisure 2.4% Airbnb, Class A (1) 8,500 1,248 Aramark 42,600 1,639 BJ's Restaurants (1) 6,133 236 Bloomin' Brands 10,200 198 Boyd Gaming 15,700 674 Brinker International 10,479 593 Caesars Entertainment (1) 32,100 2,384 Canterbury Park Holding 24,581 293 Cheesecake Factory 7,540 279 Choice Hotels International 6,300 672 Churchill Downs 6,800 1,325 Chuy's Holdings (1) 5,000 132 Cracker Barrel Old Country Store 1,500 198 Dave & Buster's Entertainment (2) 5,000 150 Denny's (1) 23,700 348 Dine Brands Global 5,400 313 DraftKings, Class A (1)(2) 51,500 2,398 Everi Holdings (1)(2) 37,400 516

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Extended Stay America 24,500 363 Hilton Grand Vacations (1) 12,010 377 Hyatt Hotels, Class A (2) 7,800 579 Jack in the Box 5,900 548 Marriott Vacations Worldwide 5,779 793 Papa John's International 6,340 538 Penn National Gaming (1)(2) 23,004 1,987 Planet Fitness, Class A (1) 16,926 1,314 Red Robin Gourmet Burgers (1) 6,100 117 Red Rock Resorts, Class A 20,900 523 Scientific Games (1) 15,430 640 SeaWorld Entertainment (1) 10,500 332 Shake Shack, Class A (1) 6,500 551 Six Flags Entertainment (2) 20,000 682 Texas Roadhouse 9,400 735 Vail Resorts 7,000 1,953 Wendy's 33,140 726 Wingstop 4,800 636 Wyndham Destinations 6,600 296 Wyndham Hotels & Resorts 12,300 731 28,017 Household Durables 0.9% Cavco Industries (1) 900 158 GoPro, Class A (1)(2) 63,100 522 Helen of Troy (1) 4,200 933 Hovnanian Enterprises, Class A (1)(2) 5,284 174 Installed Building Products (1) 900 92 iRobot (1)(2) 6,400 514 KB Home 16,500 553 La-Z-Boy 11,350 452 LGI Homes (1) 1,537 163 M/I Homes (1) 10,170 450 MDC Holdings 5,243 255 Meritage Homes (1) 7,300 605 Purple Innovation (1) 3,700 122 Taylor Morrison Home (1) 26,000 667

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Tempur Sealy International (1) 30,200 815 Toll Brothers (2) 26,120 1,135 TopBuild (1) 4,400 810 TRI Pointe Group (1) 40,500 699 Tupperware Brands (1) 13,520 438 Turtle Beach (1) 8,000 172 Universal Electronics (1) 6,200 325 10,054 Internet & Direct Marketing Retail 0.8% 1-800-Flowers.com, Class A (1)(2) 19,268 501 Chewy, Class A (1)(2) 7,180 645 DoorDash, Class A (1) 5,800 828 Groupon (1)(2) 5,500 209 GrubHub (1) 16,300 1,211 Magnite (1)(2) 17,700 544 Overstock.com (1) 3,400 163 Quotient Technology (1) 32,390 305 Qurate Retail, Series A 65,700 721 RealReal (1)(2) 16,400 320 Shutterstock 2,700 194 Stamps.com (1) 3,500 687 Stitch Fix, Class A (1) 9,100 534 Wayfair, Class A (1)(2) 12,100 2,732 9,594 Leisure Products 1.0% Acushnet Holdings 2,500 101 Brunswick 16,200 1,235 Callaway Golf 15,600 375 Malibu Boats, Class A (1) 5,000 312 Marine Products 8,600 125 Mattel (1) 65,039 1,135 Peloton Interactive, Class A (1) 43,850 6,653 Polaris Industries 9,040 861 YETI Holdings (1) 11,300 774 11,571

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Multiline Retail 0.4% Big Lots (2) 15,500 665 Dillard's, Class A (2) 6,700 423 Kohl's 23,100 940 Macy's 71,900 809 Nordstrom 17,400 543 Ollie's Bargain Outlet Holdings (1)(2) 13,700 1,120 4,500 Specialty Retail 2.0% Aaron's (1) 7,567 144 Abercrombie & Fitch, Class A 18,800 383 American Eagle Outfitters (2) 39,880 800 Asbury Automotive Group (1)(2) 3,340 487 At Home Group (1)(2) 6,600 102 AutoNation (1) 5,400 377 Bed Bath & Beyond (2) 5,800 103 Burlington Stores (1) 12,500 3,269 Caleres 20,230 317 Carvana (1)(2) 10,634 2,547 Dick's Sporting Goods (2) 10,100 568 Five Below (1) 11,300 1,977 Floor & Decor Holdings, Class A (1) 16,300 1,514 Foot Locker 14,103 570 GameStop, Class A (1)(2) 18,600 350 Genesco (1) 10,900 328 Group 1 Automotive 4,200 551 GrowGeneration (1) 5,900 237 Guess? 12,120 274 Hibbett Sports (1) 2,500 115 Lithia Motors, Class A 4,200 1,229 Monro (2) 8,700 464 Murphy USA 4,500 589 National Vision Holdings (1)(2) 11,722 531 ODP 9,957 292 Penske Automotive Group 2,616 155 Rent-A-Center 13,550 519

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

RH (1)(2) 3,600 1,611 Sally Beauty Holdings (1)(2) 11,500 150 Sleep Number (1) 6,500 532 Sonic Automotive, Class A 6,120 236 Sportsman's Warehouse Holdings (1)(2) 27,900 490 Urban Outfitters (1) 10,700 274 Williams-Sonoma 14,100 1,436 23,521 Textiles, Apparel & Luxury Goods 1.3% Capri Holdings (1) 32,098 1,348 Carter's 6,000 564 Charles & Colvard (1) 2,868 4 Columbia Sportswear 3,962 346 Crocs (1) 18,200 1,140 Deckers Outdoor (1) 4,500 1,291 Fossil Group (1) 29,600 257 G-III Apparel Group (1) 10,500 249 Kontoor Brands 7,600 308 Lululemon Athletica (1) 20,200 7,030 Movado Group 13,200 219 Oxford Industries 4,800 315 Skechers USA, Class A (1) 23,000 827 Steven Madden 15,650 553 Wolverine World Wide 15,200 475 14,926 Total Consumer Discretionary 126,915 CONSUMER STAPLES 2.7%

Beverages 0.4% Boston Beer, Class A (1) 1,500 1,491 Coca-Cola Consolidated 1,100 293 Keurig Dr Pepper 94,800 3,034 National Beverage (2) 2,448 208 Willamette Valley Vineyards (1) 10,850 69 5,095

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Food & Staples Retailing 0.6% Andersons 3,600 88 BJ's Wholesale Club Holdings (1) 20,200 753 Casey's General Stores 6,500 1,161 Chef's Warehouse (1) 18,400 473 Grocery Outlet Holding (1)(2) 16,432 645 Ingles Markets, Class A (2) 5,800 247 Performance Food Group (1) 19,820 944 PriceSmart 4,050 369 Rite Aid (1)(2) 11,300 179 SpartanNash 8,800 153 Sprouts Farmers Market (1) 12,600 253 U.S. Foods Holding (1) 42,500 1,416 6,681 Food Products 1.1% B&G Foods (2) 10,700 297 Beyond Meat (1)(2) 4,200 525 Bunge 14,602 958 Cal-Maine Foods (1) 12,200 458 Darling Ingredients (1) 31,600 1,823 Farmer Bros. (1) 7,000 33 Flowers Foods 38,183 864 Fresh Del Monte Produce 7,700 185 Freshpet (1) 4,200 596 Hain Celestial Group (1) 12,700 510 Hostess Brands (1) 33,200 486 Ingredion 9,800 771 J & J Snack Foods 1,940 301 John B. Sanfilippo & Son 5,800 457 Lancaster Colony 4,165 765 Post Holdings (1) 14,985 1,514 Sanderson Farms 4,540 600 Seaboard 130 394 Simply Good Foods (1) 19,727 619 TreeHouse Foods (1) 9,543 406

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Utz Brands 6,400 141 12,703 Household Products 0.2% Central Garden & Pet, Class A (1) 7,900 287 Energizer Holdings (2) 13,550 572 Spectrum Brands Holdings 5,511 435 WD-40 2,800 744 2,038 Personal Products 0.3% Coty, Class A 80,400 564 Edgewell Personal Care 7,650 265 Herbalife Nutrition (1) 15,300 735 Inter Parfums 6,700 405 Lifevantage (1) 21,700 202 Medifast 3,300 648 Nu Skin Enterprises, Class A 9,900 541 USANA Health Sciences (1) 3,100 239 3,599 Tobacco 0.1% 22nd Century Group (1)(2) 162,200 357 Universal 7,140 347 Vector Group 23,282 271 975 Total Consumer Staples 31,091 ENERGY 1.4%

Energy Equipment & Services 0.3% Archrock 68,467 593 Cactus, Class A 5,200 136 ChampionX (1) 49,500 757 DMC Global 7,000 303 Dril-Quip (1) 10,200 302 Helmerich & Payne 12,900 299 Oceaneering International (1) 20,500 163 Patterson-UTI Energy 51,800 273 SEACOR Marine Holdings (1) 3,487 9

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Solaris Oilfield Infrastructure, Class A 34,200 278 Transocean (1)(2) 308,800 713 3,826 Oil, Gas & Consumable Fuels 1.1% Adams Resources & Energy 2,500 60 Antero Midstream 73,700 568 Bonanza Creek Energy (1) 7,300 141 Cheniere Energy (1) 38,400 2,305 Cimarex Energy 23,472 880 CNX Resources (1) 41,400 447 Continental Resources 29,700 484 CVR Energy 15,200 227 Denbury (1) 15,100 388 Dorian LPG (1) 16,200 198 EQT 51,400 653 Equitrans Midstream 17,300 139 International Seaways 9,700 158 Murphy Oil 40,000 484 Ovintiv 50,700 728 Parsley Energy, Class A 46,500 660 PDC Energy (1) 21,500 441 Range Resources 10,700 72 Renewable Energy Group (1) 8,200 581 REX American Resources (1) 2,650 195 Southwestern Energy (1) 106,600 318 Talos Energy (1) 29,600 244 Targa Resources 37,400 987 Uranium Energy (1)(2) 114,400 201 World Fuel Services 14,400 449 WPX Energy (1) 85,100 694 12,702 Total Energy 16,528 FINANCIALS 12.9%

Banks 4.3% 1st Source 8,652 349

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Ameris Bancorp 9,100 346 Arrow Financial 4,655 139 Associated Banc-Corp 37,027 631 Atlantic Capital Bancshares (1) 2,379 38 Atlantic Union Bankshares 19,229 633 Banc of California 6,100 90 BancFirst 7,800 458 Bancorp (1) 15,900 217 BancorpSouth Bank 17,675 485 Bank of Hawaii 12,366 947 Bank OZK 15,900 497 BankUnited 29,718 1,034 Banner 1,471 69 Berkshire Hills Bancorp 29,000 496 BOK Financial 1,760 121 Boston Private Financial Holdings 33,500 283 Brookline Bancorp 24,129 291 Cambridge Bancorp 1,300 91 Camden National 7,000 250 Cathay General Bancorp 5,556 179 Century Bancorp, Class A 3,450 267 CIT Group 17,000 610 City Holding 5,950 414 Columbia Banking System 13,850 497 Commerce Bancshares 14,870 977 Community Bank System 8,028 500 Community Trust Bancorp 9,472 351 ConnectOne Bancorp 13,883 275 Cullen/Frost Bankers 9,350 816 CVB Financial 15,206 297 East West Bancorp 34,800 1,765 Eastern Bankshares (1) 18,700 305 First Bancorp North Carolina 10,375 351 First BanCorp Puerto Rico 27,200 251 First Busey 19,991 431 First Citizens BancShares, Class A 970 557

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

First Commonwealth Financial 37,400 409 First Community Bankshares 9,200 199 First Financial 6,750 262 First Financial Bancorp 14,800 259 First Financial Bankshares 19,076 690 First Hawaiian 2,800 66 First Horizon National 108,206 1,381 First Merchants 18,413 689 First Midwest Bancorp 45,093 718 First United 4,211 65 Flushing Financial 15,125 252 FNB 19,332 184 Fulton Financial 42,102 536 German American Bancorp 7,533 249 Glacier Bancorp 14,712 677 Great Southern Bancorp 3,200 156 Great Western Bancorp 15,300 320 Hancock Whitney 3,300 112 Hilltop Holdings 18,898 520 Home BancShares 35,076 683 Hope Bancorp 25,700 280 Independent Bank 7,750 566 Independent Bank Group 3,000 188 International Bancshares 9,002 337 Macatawa Bank 17,200 144 National Bank Holdings, Class A 15,000 491 NBT Bancorp 14,480 465 Nicolet Bankshares (1) 1,800 119 Northrim BanCorp 9,825 334 OceanFirst Financial 5,800 108 OFG Bancorp 16,400 304 Old National Bancorp 26,630 441 Pacific Premier Bancorp 15,900 498 PacWest Bancorp 19,712 501 Park National 2,440 256 Peapack-Gladstone Financial 12,057 274

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Peoples Bancorp 8,450 229 Pinnacle Financial Partners 14,749 950 Popular 21,530 1,213 Preferred Bank 6,259 316 Premier Financial Bancorp 10,262 136 Prosperity Bancshares 12,860 892 Renasant 13,252 446 S&T Bancorp 6,600 164 Sandy Spring Bancorp 7,930 255 Seacoast Banking (1) 21,539 634 ServisFirst Bancshares 4,900 197 Signature Bank 12,900 1,745 Silvergate Capital, Class A (1) 6,000 446 Simmons First National, Class A 13,910 300 South State 12,548 907 Southside Bancshares 12,690 394 Sterling Bancorp 49,395 888 Stock Yards Bancorp 7,981 323 Synovus Financial 18,557 601 TCF Financial 28,745 1,064 Texas Capital Bancshares (1) 9,000 535 Tompkins Financial 4,517 319 Towne Bank 12,000 282 TriCo Bancshares 7,000 247 Trustmark 13,000 355 UMB Financial 5,312 366 Umpqua Holdings 14,002 212 United Bankshares 28,400 920 United Community Banks 18,596 529 Univest Financial 6,600 136 Valley National Bancorp 45,300 442 Veritex Holdings 9,000 231 Washington Trust Bancorp 4,500 202 Webster Financial 21,910 924 WesBanco 23,942 717 West BanCorp 12,900 249

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Westamerica BanCorp 6,546 362 Western Alliance Bancorp 23,719 1,422 Wintrust Financial 1,800 110 50,701 Capital Markets 2.8% Affiliated Managers Group 4,500 458 Apollo Global Management 31,800 1,558 Ares Management, Class A 7,800 367 Artisan Partners Asset Management, Class A 4,500 227 BGC Partners, Class A 34,500 138 Blackstone Group, Class A 110,200 7,142 Carlyle Group 10,600 333 Cohen & Company (1) 6,700 109 Cohen & Steers 7,000 520 Cowen, Class A 13,924 362 Donnelley Financial Solutions (1) 27,275 463 Eaton Vance 24,466 1,662 Evercore, Class A 7,500 822 FactSet Research Systems 6,600 2,195 Federated Hermes, Class B 10,400 300 Hamilton Lane, Class A 2,800 219 Houlihan Lokey 6,715 451 Interactive Brokers Group, Class A 14,400 877 Janus Henderson Group 20,028 651 KKR 101,207 4,098 Lazard, Class A 24,500 1,036 LPL Financial Holdings 14,100 1,470 Moelis, Class A 7,000 327 Morningstar 1,900 440 Open Lending, Class A (1) 7,900 276 Piper Sandler 5,950 600 PJT Partners, Class A 3,200 241 SEI Investments 17,856 1,026 StepStone Group, Class A (1) 3,577 142 Stifel Financial 12,629 637 StoneX Group (1) 5,681 329

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Tradeweb Markets, Class A 13,908 869 U.S. Global Investors, Class A 56,500 308 Virtu Financial, Class A 17,596 443 Virtus Investment Partners 4,334 940 Waddell & Reed Financial, Class A 21,740 554 32,590 Consumer Finance 0.8% Ally Financial 76,300 2,721 Credit Acceptance (1)(2) 1,400 485 Encore Capital Group (1) 8,200 319 Enova International (1) 3,339 83 EZCORP, Class A (1) 44,700 214 FirstCash 7,938 556 Green Dot, Class A (1) 13,600 759 LendingTree (1)(2) 825 226 Nelnet, Class A 3,722 265 OneMain Holdings 13,800 665 PRA Group (1) 17,350 688 PROG Holdings 15,135 815 Santander Consumer USA Holdings 13,200 291 SLM 74,700 925 9,012 Diversified Financial Services 0.5% Cannae Holdings (1) 14,700 651 Equitable Holdings 78,062 1,997 Jefferies Financial Group 44,347 1,091 Newstar Financial, CVR (1)(3) 6,000 1 Voya Financial 29,300 1,723 5,463 Insurance 2.8% Alleghany 2,118 1,279 Ambac Financial Group (1) 27,500 423 American Equity Investment Life Holding 9,700 268 American Financial Group 13,010 1,140 American National Group 3,100 298

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Arch Capital Group (1) 57,800 2,085 Argo Group International Holdings 9,422 412 Assured Guaranty 18,600 586 Athene Holding, Class A (1) 13,800 595 Axis Capital Holdings 22,373 1,127 Brighthouse Financial (1) 6,800 246 Brown & Brown 47,100 2,233 BRP Group, Class A (1) 4,700 141 Citizens (1)(2) 20,733 119 CNA Financial 7,900 308 CNO Financial Group 18,700 416 eHealth (1) 3,618 255 Enstar Group (1) 2,700 553 Erie Indemnity, Class A 2,107 518 FBL Financial Group, Class A 4,342 228 Fidelity National Financial 53,331 2,085 First American Financial 23,730 1,225 Genworth Financial, Class A (1) 134,800 510 Goosehead Insurance, Class A 1,900 237 Hanover Insurance Group 7,820 914 Horace Mann Educators 9,010 379 James River Group Holdings 8,200 403 Kemper 14,250 1,095 Kinsale Capital Group 1,918 384 Markel (1) 2,244 2,319 MBIA (1) 40,800 268 Mercury General 3,200 167 National General Holdings 10,100 345 National Western Life Group, Class A 610 126 Old Republic International 43,993 867 Palomar Holdings (1) 3,700 329 Primerica 5,200 696 ProAssurance 15,240 271 Reinsurance Group of America 10,020 1,161 RenaissanceRe Holdings 7,895 1,309 RLI 2,400 250

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Safety Insurance Group 5,915 461 Selective Insurance Group 13,900 931 State Auto Financial 24,470 434 Stewart Information Services 5,080 246 Trupanion (1) 8,000 958 United Fire Group 13,400 336 White Mountains Insurance Group 648 648 32,584 Mortgage Real Estate Investment Trusts 0.9% AGNC Investment, REIT 54,674 853 Annaly Capital Management, REIT 224,020 1,893 Apollo Commercial Real Estate Finance, REIT 24,600 275 Arbor Realty Trust, REIT 10,700 152 Ares Commercial Real Estate, REIT 35,000 417 ARMOUR Residential, REIT 20,500 221 Blackstone Mortgage Trust, Class A, REIT 18,600 512 Cherry Hill Mortgage Investment, REIT 9,262 85 Chimera Investment, REIT 29,800 305 Colony Credit Real Estate, REIT 29,600 222 Dynex Capital, REIT (2) 23,099 411 Hannon Armstrong Sustainable Infrastructure Capital, REIT 14,485 919 Invesco Mortgage Capital, REIT (2) 90,000 304 Ladder Capital, REIT 31,300 306 MFA Financial, REIT 101,700 396 New Residential Investment, REIT 64,250 639 PennyMac Mortgage Investment Trust, REIT 23,800 419 Ready Capital, REIT 8,636 107 Redwood Trust, REIT 57,700 507 Starwood Property Trust, REIT 36,600 706 TPG RE Finance Trust, REIT 23,200 246 Two Harbors Investment, REIT 52,800 336 10,231 Thrifts & Mortgage Finance 0.8% Axos Financial (1) 3,500 131 Capitol Federal Financial 24,144 302 Essent Group 21,400 924

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Federal Agricultural Mortgage, Class C 1,700 126 HomeStreet 13,200 446 Kearny Financial 24,737 261 Meridian Bancorp 30,065 448 MGIC Investment 63,500 797 Mr Cooper Group (1) 12,485 387 New York Community Bancorp 59,137 624 NMI Holdings, Class A (1) 24,600 557 Northwest Bancshares 43,479 554 Ocwen Financial (1) 6,062 175 PennyMac Financial Services 5,165 339 Provident Financial Services 17,118 307 Radian Group 45,858 929 TFS Financial 11,100 196 TrustCo Bank 40,750 272 Walker & Dunlop 6,900 635 Washington Federal 31,668 815 Western New England Bancorp 10,100 70 WSFS Financial 8,550 384 9,679 Total Financials 150,260 HEALTH CARE 16.1%

Biotechnology 7.1% ACADIA Pharmaceuticals (1) 25,800 1,379 Acceleron Pharma (1) 9,000 1,151 Adamas Pharmaceuticals (1)(2) 63,700 276 Adverum Biotechnologies (1) 18,200 197 Agios Pharmaceuticals (1) 9,600 416 Alector (1)(2) 8,800 133 Alkermes (1) 31,500 628 Allakos (1)(2) 5,655 792 Alnylam Pharmaceuticals (1) 20,300 2,638 Altimmune (1)(2) 24,600 277 Amicus Therapeutics (1) 44,000 1,016 Apellis Pharmaceuticals (1)(2) 15,600 892

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

AquaBounty Technologies (1) 45,617 400 Arcturus Therapeutics Holdings (1)(2) 4,500 195 Arcus Biosciences (1) 10,000 260 Arena Pharmaceuticals (1) 10,600 814 Arrowhead Pharmaceuticals (1) 24,600 1,888 Atara Biotherapeutics (1) 15,000 294 Athersys (1)(2) 79,200 139 Atreca, Class A (1) 8,800 142 Beam Therapeutics (1) 4,700 384 BioCryst Pharmaceuticals (1)(2) 31,500 235 Biohaven Pharmaceutical Holding (1)(2) 9,829 842 BioMarin Pharmaceutical (1) 28,990 2,542 Bioxcel Therapeutics (1) 2,700 125 Bluebird Bio (1) 13,600 588 Blueprint Medicines (1) 12,100 1,357 Bridgebio Pharma (1)(2) 13,100 932 Calyxt (1) 12,000 51 CareDx (1) 17,000 1,232 CASI Pharmaceuticals (1) 63,200 186 CEL-SCI (1)(2) 22,900 267 ChemoCentryx (1) 8,100 502 Clovis Oncology (1)(2) 35,150 169 Coherus Biosciences (1)(2) 22,200 386 Constellation Pharmaceuticals (1)(2) 6,100 176 Cymabay Therapeutics (1) 18,600 107 Cytokinetics (1)(2) 12,000 249 Deciphera Pharmaceuticals (1) 6,200 354 Denali Therapeutics (1) 12,700 1,064 Dicerna Pharmaceuticals (1) 16,600 366 Dynavax Technologies (1)(2) 42,700 190 Editas Medicine (1) 10,900 764 Eidos Therapeutics (1) 1,300 171 Emergent BioSolutions (1) 8,800 788 Esperion Therapeutics (1)(2) 2,900 75 Exact Sciences (1) 27,000 3,577 Exelixis (1) 62,690 1,258

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Fate Therapeutics (1) 13,100 1,191 FibroGen (1)(2) 17,600 653 Five Prime Therapeutics (1) 13,800 235 Flexion Therapeutics (1)(2) 6,800 78 Global Blood Therapeutics (1) 15,000 650 Halozyme Therapeutics (1)(2) 28,900 1,234 Heat Biologics (1)(2) 21,270 114 Heron Therapeutics (1)(2) 27,300 578 Idera Pharmaceuticals (1)(2) 16,300 60 IGM Biosciences (1)(2) 1,400 124 ImmunoGen (1) 40,000 258 Immunovant (1)(2) 7,200 333 Inovio Pharmaceuticals (1)(2) 35,000 310 Insmed (1) 29,421 979 Intellia Therapeutics (1) 8,600 468 Invitae (1)(2) 25,500 1,066 Ionis Pharmaceuticals (1) 25,680 1,452 Iovance Biotherapeutics (1) 26,388 1,224 Ironwood Pharmaceuticals (1) 35,000 399 IVERIC bio (1) 29,300 202 Karuna Therapeutics (1)(2) 2,800 284 Karyopharm Therapeutics (1)(2) 18,300 283 Kodiak Sciences (1)(2) 4,800 705 Kura Oncology (1) 7,500 245 Lexicon Pharmaceuticals (1)(2) 63,742 218 Ligand Pharmaceuticals (1)(2) 3,586 357 MacroGenics (1) 10,700 245 Mersana Therapeutics (1) 10,500 279 MiMedx Group (1) 19,700 179 Mirati Therapeutics (1) 8,727 1,917 Moderna (1) 52,900 5,526 Myriad Genetics (1) 12,680 251 Natera (1) 16,300 1,622 Neoleukin Therapeutics (1) 8,700 123 Neurocrine Biosciences (1) 16,100 1,543 Nkarta (1) 3,400 209

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Novavax (1)(2) 9,750 1,087 OncoSec Medical (1) 11,400 74 OPKO Health (1)(2) 95,086 376 PTC Therapeutics (1) 17,400 1,062 Radius Health (1) 4,838 86 REGENXBIO (1) 9,200 417 Replimune Group (1) 4,800 183 REVOLUTION Medicines (1) 6,500 257 Rhythm Pharmaceuticals (1) 9,300 277 Rocket Pharmaceuticals (1)(2) 17,399 954 Sage Therapeutics (1) 10,200 882 Sangamo Therapeutics (1) 47,200 737 Sarepta Therapeutics (1)(2) 14,516 2,475 Scholar Rock Holding (1) 6,200 301 Seagen (1) 21,720 3,804 Seres Therapeutics (1) 7,700 189 Sorrento Therapeutics (1)(2) 48,387 330 Spectrum Pharmaceuticals (1) 100,700 343 SpringWorks Therapeutics (1) 3,600 261 Syros Pharmaceuticals (1)(2) 24,400 265 TG Therapeutics (1) 31,200 1,623 Translate Bio (1)(2) 25,400 468 Turning Point Therapeutics (1) 6,900 841 Twist Bioscience (1)(2) 6,400 904 Ultragenyx Pharmaceutical (1) 11,700 1,620 uniQure (1) 8,100 293 United Therapeutics (1) 6,900 1,047 Vaxart (1)(2) 35,100 200 VBI Vaccines (1)(2) 56,500 155 Veracyte (1) 6,800 333 Vir Biotechnology (1)(2) 13,500 362 Xencor (1) 19,200 838 XOMA (1) 12,234 540 82,042 Health Care Equipment & Supplies 2.7% AngioDynamics (1) 3,000 46

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

AtriCure (1) 8,000 445 Avanos Medical (1) 10,042 461 Cantel Medical 7,100 560 Cardiovascular Systems (1) 13,200 578 Co-Diagnostics (1)(2) 16,700 155 CONMED 5,550 622 CryoLife (1) 5,750 136 CryoPort (1)(2) 1,200 53 Envista Holdings (1) 28,200 951 GenMark Diagnostics (1) 21,800 318 Glaukos (1) 8,000 602 Globus Medical, Class A (1) 18,700 1,220 Haemonetics (1) 8,400 998 Heska (1)(2) 3,300 481 Hill-Rom Holdings 9,750 955 ICU Medical (1) 3,300 708 Inogen (1) 6,700 299 Insulet (1) 10,800 2,761 Integer Holdings (1) 5,450 442 Integra LifeSciences Holdings (1) 9,700 630 Invacare 18,600 166 iRhythm Technologies (1) 4,365 1,035 LeMaitre Vascular 11,600 470 LivaNova (1) 8,900 589 Masimo (1) 8,000 2,147 Meridian Bioscience (1) 1,475 28 Merit Medical Systems (1) 10,106 561 Mesa Laboratories (2) 1,900 545 Neogen (1) 9,066 719 Nevro (1)(2) 8,546 1,479 Novocure (1) 15,000 2,596 NuVasive (1) 10,600 597 OraSure Technologies (1) 14,675 155 OrthoPediatrics (1)(2) 5,300 219 Penumbra (1) 7,300 1,277 Pulse Biosciences (1)(2) 14,200 339

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Quidel (1) 7,800 1,401 Rockwell Medical (1)(2) 81,200 82 SeaSpine Holdings (1) 11,897 208 Shockwave Medical (1) 5,900 612 Silk Road Medical (1) 5,200 327 SmileDirectClub (1)(2) 12,100 144 STAAR Surgical (1) 6,700 531 Surgalign Holdings (1) 80,500 176 Surmodics (1) 6,550 285 Tactile Systems Technology (1) 3,850 173 Tandem Diabetes Care (1) 9,900 947 Vapotherm (1)(2) 4,100 110 31,339 Health Care Providers & Services 1.9% 1Life Healthcare (1)(2) 11,300 493 Acadia Healthcare (1) 15,000 754 AdaptHealth (1) 6,100 229 Addus HomeCare (1) 2,300 269 Amedisys (1) 7,000 2,053 AMN Healthcare Services (1) 10,905 744 BioTelemetry (1) 4,400 317 Brookdale Senior Living (1) 14,900 66 Castle Biosciences (1) 3,100 208 Chemed 3,200 1,704 CorVel (1) 3,650 387 Covetrus (1) 22,101 635 Encompass Health 14,000 1,158 Ensign Group 11,600 846 Guardant Health (1) 13,500 1,740 HealthEquity (1)(2) 10,900 760 LHC Group (1) 6,800 1,451 Magellan Health (1) 2,200 182 MEDNAX (1) 10,900 268 Molina Healthcare (1) 11,800 2,510 National HealthCare 3,300 219 National Research, Class A 2,400 103

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Owens & Minor 13,800 373 Patterson (2) 19,819 587 Pennant Group (1) 9,850 572 Premier, Class A 9,600 337 Progyny (1) 5,600 237 Providence Service (1) 4,800 665 R1 RCM (1) 7,100 171 RadNet (1) 14,700 288 Select Medical Holdings (1) 18,500 512 Surgery Partners (1) 5,900 171 Tenet Healthcare (1) 22,500 898 Tivity Health (1) 5,400 106 22,013 Health Care Technology 1.5% Allscripts Healthcare Solutions (1) 24,700 357 Change Healthcare (1) 24,465 456 Evolent Health, Class A (1) 28,300 454 Health Catalyst (1)(2) 7,300 318 HealthStream (1) 20,900 457 HMS Holdings (1) 22,400 823 Inovalon Holdings, Class A (1) 13,200 240 Inspire Medical Systems (1) 4,300 809 MTBC (1)(2) 37,300 338 Multiplan (1)(2) 45,600 364 NextGen Healthcare (1) 25,000 456 Omnicell (1) 10,520 1,263 Schrodinger (1) 5,800 459 Simulations Plus 2,200 158 Tabula Rasa HealthCare (1)(2) 9,100 390 Teladoc Health (1)(2) 17,712 3,542 Veeva Systems, Class A (1) 23,300 6,343 Vocera Communications (1)(2) 11,900 494 17,721 Life Sciences Tools & Services 1.6% 10X Genomics, Class A (1) 11,100 1,572 Adaptive Biotechnologies (1) 13,900 822

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Avantor (1) 81,173 2,285 Berkeley Lights (1) 2,900 259 Bio-Techne 6,100 1,937 Bruker 27,550 1,491 Charles River Laboratories International (1) 6,900 1,724 Fluidigm (1)(2) 34,200 205 Harvard Bioscience (1) 4,800 21 Luminex 14,100 326 Medpace Holdings (1) 7,000 974 NanoString Technologies (1)(2) 7,100 475 NeoGenomics (1) 27,400 1,475 Pacific Biosciences of California (1)(2) 27,700 719 PPD (1) 17,677 605 PRA Health Sciences (1) 11,900 1,493 Repligen (1) 7,600 1,456 Syneos Health (1)(2) 10,200 695 18,534 Pharmaceuticals 1.3% Aerie Pharmaceuticals (1)(2) 14,900 201 Agile Therapeutics (1) 40,600 116 Arvinas (1) 4,917 418 Axsome Therapeutics (1)(2) 6,200 505 Cara Therapeutics (1)(2) 6,600 100 Collegium Pharmaceutical (1) 18,600 373 Corcept Therapeutics (1) 22,200 581 Durect (1)(2) 128,200 265 Elanco Animal Health (1) 78,384 2,404 Endo International (1) 45,900 330 Horizon Therapeutics (1) 35,600 2,604 Innoviva (1) 36,500 452 Intra-Cellular Therapies (1) 17,600 560 Jazz Pharmaceuticals (1) 8,700 1,436 Nektar Therapeutics (1) 38,860 661 NuPathe, CVR, Rights, 1/2/24 (1)(2)(3) 81,200 — Ocular Therapeutix (1) 13,100 271 Omeros (1)(2) 17,000 243

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Otonomy (1) 21,700 140 Pacira BioSciences (1) 7,300 437 Phibro Animal Health, Class A 9,600 186 Prestige Consumer Healthcare (1) 12,000 418 Reata Pharmaceuticals, Class A (1)(2) 300 37 Relmada Therapeutics (1)(2) 4,500 144 Revance Therapeutics (1)(2) 18,900 536 Royalty Pharma, Class A (2) 15,800 791 Theravance Biopharma (1)(2) 9,000 160 WaVe Life Sciences (1) 25,500 201 Zogenix (1)(2) 18,700 374 14,944 Total Health Care 186,593 INDUSTRIALS & BUSINESS SERVICES 13.0%

Aerospace & Defense 1.0% Aerojet Rocketdyne Holdings (1)(2) 11,310 598 AeroVironment (1) 5,200 452 Axon Enterprise (1) 9,979 1,223 BWX Technologies 19,437 1,172 Cubic 5,100 316 Curtiss-Wright 7,600 884 Ducommun (1) 2,900 156 HEICO 8,771 1,161 HEICO, Class A 9,825 1,150 Hexcel 16,600 805 Kaman 5,361 306 Maxar Technologies 7,400 286 Mercury Systems (1) 8,000 704 Moog, Class A 5,630 446 National Presto Industries 2,100 186 Park Aerospace 7,800 105 Spirit AeroSystems Holdings, Class A 14,100 551 Triumph Group 45,900 576 Vectrus (1) 7,944 395

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Virgin Galactic Holdings (1)(2) 20,000 475 11,947 Air Freight & Logistics 0.2% Air Transport Services Group (1) 7,400 232 Forward Air 2,000 154 Hub Group, Class A (1) 6,400 365 XPO Logistics (1) 18,000 2,145 2,896 Airlines 0.2% Allegiant Travel 1,500 284 JetBlue Airways (1) 42,300 615 SkyWest 14,930 602 Spirit Airlines (1) 24,700 604 2,105 Building Products 1.1% AAON (2) 7,090 472 Advanced Drainage Systems 3,791 317 Apogee Enterprises 7,700 244 Armstrong Flooring (1) 37,600 144 Armstrong Worldwide Industries 8,300 617 AZEK (1) 16,000 615 Builders FirstSource (1) 27,200 1,110 Cornerstone Building Brands (1) 24,400 226 CSW Industrials 2,400 269 Gibraltar Industries (1) 5,400 388 Griffon 11,900 243 Lennox International 4,590 1,258 Masonite International (1) 5,300 521 Owens Corning 21,700 1,644 PGT Innovations (1) 22,700 462 Resideo Technologies (1) 38,844 826 Simpson Manufacturing 7,100 663 Trex (1) 19,800 1,658 UFP Industries 9,770 543 12,220

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Commercial Services & Supplies 1.1% ABM Industries 10,150 384 ACCO Brands 17,100 145 ADT 47,800 375 Brady, Class A 8,600 454 Brink's 9,549 688 Casella Waste Systems, Class A (1) 7,275 451 Cimpress (1)(2) 1,700 149 Clean Harbors (1) 7,700 586 CoreCivic, REIT 16,296 107 Covanta Holding 56,204 738 Deluxe 3,200 93 Ennis 16,557 296 Harsco (1) 13,160 237 Healthcare Services Group 15,250 429 Herman Miller 12,550 424 HNI 4,280 148 IAA (1) 20,500 1,332 Interface 8,600 90 KAR Auction Services 20,700 385 Kimball International, Class B 24,390 291 Knoll 13,300 195 Matthews International, Class A 1,300 38 McGrath RentCorp 4,300 289 MSA Safety 5,800 866 Pitney Bowes 39,800 245 Steelcase, Class A 14,559 197 Stericycle (1) 13,500 936 Tetra Tech 8,050 932 UniFirst 2,300 487 Viad 7,725 279 12,266 Construction & Engineering 0.7% AECOM (1) 26,622 1,325 Aegion (1) 7,350 140 Ameresco, Class A (1) 1,100 58

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

API Group (1)(2) 19,000 345 Arcosa 9,352 514 Comfort Systems USA 8,706 458 Dycom Industries (1) 5,763 435 EMCOR Group 7,460 682 Fluor 15,600 249 Granite Construction 13,525 361 MasTec (1) 11,850 808 Matrix Service (1) 20,600 227 MYR Group (1) 6,400 385 Primoris Services 13,800 381 Sterling Construction (1) 14,800 275 Tutor Perini (1) 1,000 13 Valmont Industries 3,700 647 Willscot Mobile Mini Holdings (1) 37,037 858 8,161 Electrical Equipment 1.4% Acuity Brands 4,400 533 Array Technologies (1) 13,900 600 Atkore International Group (1) 12,600 518 AZZ 8,400 398 Bloom Energy, Class A (1) 21,200 608 Encore Wire 7,100 430 EnerSys 8,800 731 FuelCell Energy (1)(2) 62,200 695 Generac Holdings (1) 10,100 2,297 GrafTech International 14,200 151 Hubbell 7,233 1,134 LSI Industries 10,325 88 nVent Electric 33,100 771 Orion Energy Systems (1) 40,900 404 Plug Power (1)(2) 75,000 2,543 Regal Beloit 6,900 847 Sensata Technologies Holding (1) 22,500 1,187 Sunrun (1) 23,605 1,638 Thermon Group Holdings (1) 23,300 364

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Vertiv Holdings 33,700 629 Vicor (1) 2,400 221 16,787 Industrial Conglomerates 0.1% Carlisle 8,920 1,393 1,393 Machinery 2.9% AGCO 12,250 1,263 Albany International, Class A 7,003 514 Allison Transmission Holdings 13,900 599 Altra Industrial Motion 15,100 837 Astec Industries 5,700 330 Barnes Group 8,900 451 Chart Industries (1) 8,300 978 Colfax (1) 14,800 566 Crane 3,741 291 Donaldson 17,142 958 Douglas Dynamics 6,700 287 EnPro Industries 5,350 404 ESCO Technologies 8,540 881 Evoqua Water Technologies (1) 10,400 281 Federal Signal 9,600 318 Franklin Electric 5,500 381 Graco 33,054 2,391 Greenbrier 13,600 495 Helios Technologies 6,900 368 Hillenbrand 16,800 669 Hurco 5,900 177 Hyster-Yale Materials Handling 1,000 60 ITT 13,500 1,040 John Bean Technologies 6,272 714 Kennametal 16,100 583 Lincoln Electric Holdings 5,880 684 Meritor (1) 16,900 472 Middleby (1) 11,293 1,456 Mueller Industries 5,900 207

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Mueller Water Products, Class A 48,043 595 Navistar International (1) 11,700 514 NN (1) 33,200 218 Nordson 8,720 1,752 Oshkosh 10,300 886 Park-Ohio Holdings 3,800 117 Proto Labs (1) 7,200 1,104 RBC Bearings (1) 4,800 859 Rexnord 16,900 667 Shyft Group 16,600 471 SPX (1) 11,805 644 SPX FLOW (1) 4,905 284 Tennant 5,300 372 Terex 16,000 558 Timken 11,950 924 Titan International 67,650 329 Toro 13,120 1,244 TriMas (1) 9,300 295 Trinity Industries 24,958 659 Wabash National 12,400 214 Watts Water Technologies, Class A 4,550 554 Welbilt (1) 28,500 376 Woodward 7,000 851 33,142 Marine 0.2% Kirby (1) 11,600 601 Matson 16,450 937 SEACOR Holdings (1) 6,450 268 1,806 Professional Services 1.6% ASGN (1) 8,950 748 CBIZ (1) 13,150 350 CoreLogic 17,230 1,332 CoStar Group (1) 6,502 6,010 CRA International 5,050 257 Dun & Bradstreet Holdings (1)(2) 16,800 418

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Exponent 10,600 954 Forrester Research (1) 5,200 218 FTI Consulting (1) 6,795 759 Heidrick & Struggles International 6,558 193 Huron Consulting Group (1) 4,700 277 ICF International 3,900 290 Insperity 8,300 676 Kforce 7,856 331 Korn Ferry 11,600 505 ManpowerGroup 8,942 806 Mastech Digital (1) 11,282 179 TransUnion 29,537 2,931 TriNet Group (1) 8,000 645 TrueBlue (1) 17,200 321 Upwork (1) 15,500 535 18,735 Road & Rail 1.6% AMERCO 1,300 590 ArcBest 4,200 179 Avis Budget Group (1) 6,500 242 Heartland Express 22,823 413 Knight-Swift Transportation Holdings 23,692 991 Landstar System 7,000 943 Lyft, Class A (1) 40,400 1,985 Marten Transport 4,900 84 Ryder System 7,575 468 Saia (1) 5,200 940 Uber Technologies (1) 232,500 11,857 USA Truck (1) 7,000 63 Werner Enterprises 7,053 277 YRC Worldwide (1) 24,688 109 19,141 Trading Companies & Distributors 0.9% Air Lease 19,100 848 Applied Industrial Technologies 2,162 169 Beacon Roofing Supply (1) 8,800 354

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

BMC Stock Holdings 5,500 295 Boise Cascade 9,200 440 GATX 8,250 686 GMS (1) 8,385 256 H&E Equipment Services 11,300 337 Herc Holdings (1) 6,055 402 Lawson Products (1) 3,900 199 MRC Global (1) 49,700 330 MSC Industrial Direct, Class A 6,900 582 NOW (1) 52,400 376 Rush Enterprises, Class A 10,800 447 SiteOne Landscape Supply (1) 10,600 1,681 Titan Machinery (1) 21,300 416 Triton International 4,400 213 Univar Solutions (1) 7,300 139 Watsco 4,700 1,065 WESCO International (1) 5,858 460 Willis Lease Finance (1) 5,700 174 9,869 Transportation Infrastructure 0.0% Macquarie Infrastructure 11,800 443 443 Total Industrials & Business Services 150,911 INFORMATION TECHNOLOGY 25.1%

Communications Equipment 0.7% Acacia Communications (1) 6,240 455 CalAmp (1) 41,100 408 Calix (1) 6,100 182 Ciena (1) 20,000 1,057 CommScope Holding (1) 27,500 369 Comtech Telecommunications 6,460 134 Digi International (1) 17,160 324 EchoStar, Class A (1) 5,344 113 Infinera (1)(2) 48,500 508 Inseego (1)(2) 24,700 382

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

KVH Industries (1) 3,100 35 Lumentum Holdings (1) 12,260 1,162 NETGEAR (1) 11,500 467 NetScout Systems (1) 10,700 293 PCTEL 2,500 17 Plantronics 14,550 393 Ribbon Communications (1) 37,800 248 Ubiquiti 2,100 585 Viasat (1) 14,400 470 Viavi Solutions (1) 40,900 613 8,215 Electronic Equipment, Instruments & Components 1.9% Arlo Technologies (1) 44,152 344 Arrow Electronics (1) 8,275 805 Avnet 18,150 637 Badger Meter 2,800 263 Belden 9,163 384 Benchmark Electronics 12,200 330 Cognex 31,400 2,521 Coherent (1) 3,900 585 CTS 11,450 393 Dolby Laboratories, Class A 8,440 820 ePlus (1) 4,400 387 Fabrinet (1) 6,000 466 FARO Technologies (1) 4,800 339 Fitbit, Class A (1) 52,600 358 II-VI (1)(2) 19,062 1,448 Insight Enterprises (1) 8,950 681 Itron (1) 4,700 451 Jabil 23,200 987 Kimball Electronics (1) 10,817 173 Knowles (1) 16,700 308 Littelfuse 4,539 1,156 Methode Electronics 8,450 324 National Instruments 29,625 1,302 nLight (1) 7,700 251

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Novanta (1) 5,120 605 OSI Systems (1) 3,838 358 PC Connection 2,100 99 Plexus (1) 3,560 278 Powerfleet (1) 10,800 80 Rogers (1) 3,250 505 Sanmina (1) 7,100 226 ScanSource (1) 8,500 224 SigmaTron International (1) 1,000 5 SYNNEX 5,500 448 Trimble (1) 41,124 2,746 TTM Technologies (1) 21,050 290 Vishay Intertechnology 23,778 492 Vishay Precision Group (1) 11,183 352 22,421 IT Services 5.2% Alliance Data Systems 9,600 711 Black Knight (1) 26,052 2,302 Booz Allen Hamilton Holding 23,900 2,084 CACI International, Class A (1) 4,300 1,072 Cardtronics, Class A (1) 9,700 342 Concentrix (1) 6,000 592 Conduent (1) 39,500 190 CSG Systems International 9,000 406 EPAM Systems (1) 10,200 3,655 Euronet Worldwide (1) 9,850 1,427 EVERTEC 15,800 621 ExlService Holdings (1) 5,800 494 Fastly, Class A (1)(2) 13,600 1,188 Genpact 30,500 1,262 GoDaddy, Class A (1) 31,000 2,571 Hackett Group 15,300 220 KBR 15,900 492 Kratos Defense & Security Solutions (1) 32,100 881 LiveRamp Holdings (1) 15,300 1,120 ManTech International, Class A 2,701 240

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

MAXIMUS 9,800 717 MoneyGram International (1) 46,000 251 MongoDB (1) 9,161 3,289 NIC 13,100 338 Okta (1) 19,563 4,974 Perspecta 18,400 443 PRGX Global (1) 27,100 207 Repay Holdings (1) 11,100 303 Sabre 52,300 629 Science Applications International 6,771 641 Shift4 Payments, Class A (1) 3,600 271 Snowflake, Class A (1)(2) 4,700 1,323 Square, Class A (1) 63,737 13,872 Sykes Enterprises (1) 9,540 359 TTEC Holdings 4,190 306 Twilio, Class A (1) 23,400 7,921 Unisys (1) 16,100 317 Virtusa (1) 8,700 445 WEX (1) 8,300 1,689 60,165 Semiconductors & Semiconductor Equipment 4.2% ACM Research, Class A (1)(2) 5,000 406 Advanced Energy Industries (1) 5,750 558 Ambarella (1) 5,700 523 Amkor Technology 23,720 358 Atomera (1) 11,000 177 Brooks Automation 13,100 889 Cirrus Logic (1) 12,540 1,031 CMC Materials 3,842 581 Cohu 19,300 737 Cree (1) 18,300 1,938 CyberOptics (1) 11,200 254 Diodes (1) 10,250 723 DSP Group (1) 18,590 308 Enphase Energy (1) 20,800 3,650 Entegris 25,377 2,439

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

First Solar (1) 16,100 1,593 FormFactor (1) 5,200 224 Impinj (1)(2) 7,300 306 Inphi (1) 10,600 1,701 Kulicke & Soffa Industries 11,900 379 Lattice Semiconductor (1) 27,700 1,269 MACOM Technology Solutions Holdings (1) 6,000 330 Marvell Technology Group 111,103 5,282 MaxLinear (1) 22,370 854 MKS Instruments 6,400 963 Monolithic Power Systems 6,955 2,547 NVE 6,500 365 NXP Semiconductors 46,000 7,314 ON Semiconductor (1) 72,860 2,385 Onto Innovation (1) 10,100 480 PDF Solutions (1) 19,901 430 Photronics (1) 23,960 267 Pixelworks (1) 37,500 106 Power Integrations 5,600 458 Semtech (1) 12,400 894 Silicon Laboratories (1) 6,000 764 SolarEdge Technologies (1) 8,600 2,744 SunPower (1)(2) 9,400 241 Synaptics (1) 5,675 547 Universal Display 8,200 1,884 48,899 Software 12.6% 2U (1)(2) 11,700 468 8x8 (1) 19,700 679 ACI Worldwide (1) 22,800 876 Agilysys (1) 7,852 301 Alarm.com Holdings (1) 10,000 1,034 Altair Engineering, Class A (1)(2) 3,700 215 Alteryx, Class A (1) 10,791 1,314 Anaplan (1) 23,000 1,653 Appfolio, Class A (1)(2) 2,394 431

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Appian (1)(2) 9,400 1,524 Aspen Technology (1) 14,100 1,837 Asure Software (1) 32,700 232 Avalara (1) 12,923 2,131 Avaya Holdings (1) 9,100 174 Aware (1) 12,000 42 Benefitfocus (1) 13,400 194 Bill.com Holdings (1) 9,500 1,297 Blackbaud 10,800 622 Blackline (1) 6,404 854 Bottomline Technologies (1) 8,800 464 Box, Class A (1) 40,500 731 CDK Global 20,300 1,052 Cerence (1) 12,188 1,225 Ceridian HCM Holding (1) 21,101 2,249 Cloudera (1) 31,800 442 Cloudflare, Class A (1) 27,500 2,090 CommVault Systems (1) 12,800 709 Cornerstone OnDemand (1) 9,300 410 Coupa Software (1) 10,900 3,694 Crowdstrike Holdings, Class A (1) 31,760 6,727 Datadog, Class A (1) 32,800 3,229 Digital Turbine (1) 12,200 690 DocuSign (1) 30,100 6,691 Domo, Class B (1) 7,700 491 Dropbox, Class A (1) 48,260 1,071 Dynatrace (1) 29,373 1,271 Elastic (1) 9,800 1,432 Envestnet (1) 8,000 658 Everbridge (1)(2) 6,887 1,027 Fair Isaac (1) 4,285 2,190 FireEye (1)(2) 35,800 826 Five9 (1) 11,400 1,988 fuboTV (1)(2) 11,100 311 Guidewire Software (1) 16,900 2,176 HubSpot (1) 7,800 3,092

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

InterDigital 6,060 368 J2 Global (1)(2) 10,600 1,036 LivePerson (1)(2) 15,100 940 Manhattan Associates (1) 11,940 1,256 Medallia (1)(2) 13,000 432 MicroStrategy, Class A (1) 2,906 1,129 Mimecast (1) 9,700 551 Mitek Systems (1) 40,900 727 NetSol Technologies (1) 6,000 23 New Relic (1) 7,800 510 Nuance Communications (1) 42,411 1,870 Nutanix, Class A (1) 20,900 666 PagerDuty (1)(2) 8,500 354 Palantir Technologies, Class A (1)(2) 74,900 1,764 Palo Alto Networks (1) 15,550 5,526 Paylocity Holding (1) 7,800 1,606 Pegasystems (2) 4,600 613 Pluralsight, Class A (1) 15,900 333 Progress Software 6,200 280 Proofpoint (1) 11,500 1,569 PROS Holdings (1) 11,900 604 PTC (1) 20,900 2,500 Q2 Holdings (1) 8,500 1,076 Qualys (1) 5,800 707 Qumu (1) 21,050 168 Rapid7 (1)(2) 5,600 505 RealPage (1) 13,520 1,179 RingCentral, Class A (1) 13,379 5,070 SailPoint Technologies Holding (1) 15,000 799 Slack Technologies, Class A (1) 83,500 3,527 Smartsheet, Class A (1) 18,950 1,313 SolarWinds (1) 12,500 187 Splunk (1) 27,700 4,706 SPS Commerce (1) 7,500 814 SS&C Technologies Holdings 34,000 2,473 SVMK (1) 20,500 524

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Tenable Holdings (1) 9,200 481 Teradata (1) 5,151 116 Trade Desk, Class A (1) 7,440 5,959 Varonis Systems (1) 3,700 605 Verint Systems (1) 15,200 1,021 Veritone (1) 18,600 529 VMware, Class A (1) 13,147 1,844 Workday, Class A (1) 29,770 7,133 Workiva (1) 6,800 623 Xperi Holding 17,300 362 Zendesk (1) 21,900 3,134 Zoom Video Communications, Class A (1) 33,600 11,334 Zscaler (1) 12,057 2,408 146,068 Technology Hardware, Storage & Peripherals 0.5% 3D Systems (1)(2) 35,550 372 Dell Technologies, Class C (1) 35,897 2,631 Diebold Nixdorf (1) 13,700 146 Immersion (1) 54,300 613 Intevac (1) 15,600 112 NCR (1) 21,100 793 Pure Storage, Class A (1)(2) 47,400 1,072 5,739 Total Information Technology 291,507 MATERIALS 3.5%

Chemicals 1.5% AgroFresh Solutions (1) 2,200 5 American Vanguard 8,266 128 Amyris (1) 32,000 198 Ashland Global Holdings 7,300 578 Avient 16,130 650 Axalta Coating Systems (1) 30,200 862 Balchem 5,400 622 Cabot 12,350 554 Chase 2,950 298

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Chemours 29,600 734 Element Solutions 45,600 808 Ferro (1) 25,760 377 GCP Applied Technologies (1) 9,065 214 HB Fuller 6,740 350 Huntsman 37,200 935 Ingevity (1) 7,100 538 Innospec 4,400 399 Koppers Holdings (1) 7,200 224 Livent (1)(2) 17,100 322 Minerals Technologies 4,310 268 NewMarket 1,500 597 Olin 19,130 470 PQ Group Holdings 12,600 180 Quaker Chemical (2) 1,900 481 RPM International 25,700 2,333 Scotts Miracle-Gro 6,100 1,215 Sensient Technologies 7,680 567 Stepan 4,600 549 Tredegar 12,800 214 Valvoline 41,087 951 Westlake Chemical 6,142 501 WR Grace 11,000 603 17,725 Construction Materials 0.1% Eagle Materials 5,270 534 Summit Materials, Class A (1) 16,092 323 U.S. Concrete (1) 5,700 228 1,085 Containers & Packaging 0.7% AptarGroup 10,460 1,432 Berry Global Group (1) 23,600 1,326 Crown Holdings (1) 21,850 2,189 Graphic Packaging Holding 39,613 671 Greif, Class A 7,100 333 Myers Industries 15,715 326

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

O-I Glass 42,700 508 Silgan Holdings 13,640 506 Sonoco Products 11,487 681 7,972 Metals & Mining 1.0% Alcoa (1) 31,400 724 Allegheny Technologies (1) 20,700 347 Arconic (1) 10,900 325 Carpenter Technology 14,700 428 Century Aluminum (1) 20,800 229 Cleveland-Cliffs (2) 89,180 1,298 Coeur Mining (1) 30,100 312 Commercial Metals 13,900 286 Compass Minerals International 5,400 333 Fortitude Gold (1) 24,343 26 Gold Resource 85,200 248 Haynes International 10,000 238 Hecla Mining 129,400 839 Kaiser Aluminum 5,936 587 Materion 5,700 363 Olympic Steel 9,400 125 Reliance Steel & Aluminum 7,600 910 Royal Gold 11,650 1,239 Steel Dynamics 36,628 1,350 SunCoke Energy 16,000 70 TimkenSteel (1) 10,300 48 United States Steel 33,900 569 Worthington Industries 8,463 435 11,329 Paper & Forest Products 0.2% Clearwater Paper (1) 9,388 354 Domtar 11,016 349 Glatfelter 13,800 226 Louisiana-Pacific 22,800 848

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Verso, Class A 9,900 119 1,896 Total Materials 40,007 REAL ESTATE 6.4%

Equity Real Estate Investment Trusts 6.0% Acadia Realty Trust, REIT 16,650 236 Agree Realty, REIT (2) 7,700 513 Alexander's, REIT 900 250 American Campus Communities, REIT 25,826 1,105 American Finance Trust, REIT 45,100 335 American Homes 4 Rent, Class A, REIT 50,200 1,506 Americold Realty Trust, REIT 32,931 1,229 Apartment Income, REIT (1) 22,300 856 Apartment Investment & Management, Class A, REIT 25,000 132 Apple Hospitality, REIT 7,200 93 Bluerock Residential Growth, REIT 46,600 590 Brandywine Realty Trust, REIT 25,043 298 Brixmor Property Group, REIT 39,200 649 Camden Property Trust, REIT 14,900 1,489 CareTrust, REIT 17,600 390 Cedar Realty Trust, REIT 4,394 44 Centerspace, REIT 3,200 226 CIM Commercial Trust, REIT 2,994 43 Colony Capital, REIT (2) 63,000 303 Columbia Property Trust, REIT 34,000 488 Community Healthcare Trust, REIT 6,500 306 CoreSite Realty, REIT 6,800 852 Corporate Office Properties Trust, REIT 22,100 576 Cousins Properties, REIT 23,931 802 CubeSmart, REIT 44,000 1,479 CyrusOne, REIT 19,400 1,419 DiamondRock Hospitality, REIT 35,900 296 Diversified Healthcare Trust, REIT 67,500 278 Douglas Emmett, REIT 44,100 1,287 Easterly Government Properties, REIT 19,086 432

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

EastGroup Properties, REIT 5,350 739 EPR Properties, REIT (2) 13,900 452 Equity Commonwealth, REIT 33,076 902 Equity LifeStyle Properties, REIT 33,380 2,115 Essential Properties Realty Trust, REIT 33,400 708 First Industrial Realty Trust, REIT 16,765 706 Franklin Street Properties, REIT 22,400 98 Gaming and Leisure Properties, REIT 37,298 1,581 GEO Group, REIT (2) 10,095 89 Getty Realty, REIT 11,643 321 Gladstone Commercial, REIT 10,400 187 Gladstone Land, REIT 24,200 354 Global Net Lease, REIT 333 6 Global Self Storage, REIT 31,399 126 Healthcare Realty Trust, REIT 25,180 745 Healthcare Trust of America, Class A, REIT 33,573 925 Hersha Hospitality Trust, REIT 47,000 371 Highwoods Properties, REIT 12,813 508 Hudson Pacific Properties, REIT 22,400 538 Independence Realty Trust, REIT 10,800 145 Innovative Industrial Properties, REIT (2) 5,100 934 Invitation Homes, REIT 92,368 2,743 JBG SMITH Properties, REIT 18,800 588 Kilroy Realty, REIT 15,520 891 Lamar Advertising, Class A, REIT 13,892 1,156 Lexington Realty Trust, REIT 33,229 353 Life Storage, REIT 9,200 1,098 LTC Properties, REIT 5,750 224 Macerich, REIT (2) 28,457 304 Mack-Cali Realty, REIT 41,300 515 Medical Properties Trust, REIT 69,700 1,519 Monmouth Real Estate Investment, REIT 22,800 395 National Health Investors, REIT 6,120 423 National Retail Properties, REIT 24,930 1,020 National Storage Affiliates Trust, REIT 10,900 393 Office Properties Income Trust, REIT 13,100 298

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Omega Healthcare Investors, REIT 36,250 1,317 Outfront Media, REIT 15,700 307 Park Hotels & Resorts, REIT 39,400 676 Pebblebrook Hotel Trust, REIT 2,501 47 Physicians Realty Trust, REIT 50,200 894 Piedmont Office Realty Trust, Class A, REIT 25,800 419 Postal Realty Trust, Class A, REIT 2,400 40 PotlatchDeltic, REIT 9,559 478 Power, REIT (1)(2) 7,138 191 Power, REIT, Right, 1/22/21 (1) 7,138 1 PS Business Parks, REIT 4,800 638 QTS Realty Trust, Class A, REIT (2) 9,700 600 Rayonier, REIT 27,951 821 Retail Properties of America, Class A, REIT 39,200 336 Rexford Industrial Realty, REIT 16,400 805 RLJ Lodging Trust, REIT 32,700 463 RPT Realty, REIT 34,100 295 Ryman Hospitality Properties, REIT 12,126 822 Sabra Health Care, REIT 30,500 530 Safehold, REIT (2) 2,400 174 Saul Centers, REIT 5,850 185 Seritage Growth Properties, Class A, REIT (1)(2) 19,300 283 Service Properties Trust, REIT 36,200 416 SITE Centers, REIT 68,600 694 Spirit Realty Capital, REIT 15,360 617 STAG Industrial, REIT 20,400 639 STORE Capital, REIT 22,900 778 Summit Hotel Properties, REIT 26,600 240 Sun Communities, REIT 18,350 2,788 Sunstone Hotel Investors, REIT 46,194 523 Tanger Factory Outlet Centers, REIT (2) 23,700 236 Terreno Realty, REIT 15,200 889 UMH Properties, REIT 30,700 455 Uniti Group, REIT 37,700 442 Universal Health Realty Income Trust, REIT 5,950 382 Urban Edge Properties, REIT 24,800 321

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

Urstadt Biddle Properties, Class A, REIT 28,500 403 Vereit, REIT 27,628 1,044 VICI Properties, REIT 77,200 1,969 Washington Real Estate Investment Trust, REIT 16,500 357 Weingarten Realty Investors, REIT 19,800 429 WP Carey, REIT 24,370 1,720 Xenia Hotels & Resorts, REIT 39,200 596 69,232 Real Estate Management & Development 0.4% Altisource Portfolio Solutions (1)(2) 10,500 135 Cushman & Wakefield (1)(2) 18,600 276 eXp World Holdings (1) 7,300 461 FRP Holdings (1) 3,700 168 Howard Hughes (1) 7,500 592 Jones Lang LaSalle (1) 9,310 1,381 Kennedy-Wilson Holdings 36,500 653 Newmark Group, Class A 16,004 117 Rafael Holdings, Class B (1) 5,221 122 RE/MAX Holdings, Class A 2,000 73 Realogy Holdings (1) 16,200 212 Redfin (1)(2) 15,500 1,064 Tejon Ranch (1) 4,100 59 5,313 Total Real Estate 74,545 UTILITIES 2.0%

Electric Utilities 0.7% ALLETE 6,482 401 Avangrid 4,800 218 Genie Energy, Class B 23,842 172 Hawaiian Electric Industries 22,600 800 IDACORP 6,310 606 MGE Energy 5,694 399 OGE Energy 28,500 908 Otter Tail 9,750 415 PG&E (1) 272,100 3,390

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

PNM Resources 13,219 642 Portland General Electric 9,100 389 Spark Energy, Class A (2) 28,700 275 8,615 Gas Utilities 0.5% Chesapeake Utilities 5,500 595 National Fuel Gas 17,730 729 New Jersey Resources 17,850 635 Northwest Natural Holding 11,690 538 ONE Gas 9,900 760 RGC Resources 11,879 282 South Jersey Industries 24,740 533 Southwest Gas Holdings 2,100 128 Spire 5,010 321 UGI 30,690 1,073 5,594 Independent Power & Renewable Electricity Producers 0.2% Clearway Energy, Class C 9,900 316 Ormat Technologies (2) 6,900 623 Sunnova Energy International (1) 7,800 352 Vistra 50,630 995 2,286 Multi-Utilities 0.2% Avista 12,490 501 Black Hills 5,940 365 MDU Resources 26,791 706 NorthWestern 6,200 362 Unitil 10,300 456 2,390 Water Utilities 0.4% American States Water 9,100 724 Cadiz (1)(2) 29,400 313 California Water Service Group 9,350 505 Essential Utilities 37,432 1,770 Middlesex Water 8,000 580

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

Shares/Par $ Value (Cost and value in $000s)

SJW Group 5,122 355 4,247 Total Utilities 23,132 Total Common Stocks (Cost $605,484) 1,159,720

SHORT-TERM INVESTMENTS 0.5%

Money Market Funds 0.3%

T. Rowe Price Government Reserve Fund, 0.08% (4)(5) 3,128,793 3,129 3,129

U.S. Treasury Obligations 0.2%

U.S. Treasury Bills, 0.11%, 3/25/21 (6) 2,750,000 2,749 2,749

Total Short-Term Investments (Cost $5,878) 5,878

SECURITIES LENDING COLLATERAL 6.8%

INVESTMENTS IN A POOLED ACCOUNT THROUGH SECURITIES LENDING PROGRAM WITH STATE STREET BANK AND TRUST COMPANY 6.8%

Short-Term Funds 6.8%

T. Rowe Price Short-Term Fund, 0.14% (4)(5) 7,923,647 79,236 Total Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company 79,236 Total Securities Lending Collateral (Cost $79,236) 79,236

Total Investments in Securities 107.2% of Net Assets (Cost $690,598) $ 1,244,834

‡ Shares/Par and Notional Amount are denominated in U.S. dollars unless otherwise noted. (1) Non-income producing (2) See Note 4. All or a portion of this security is on loan at December 31, 2020. (3) See Note 2. Level 3 in fair value hierarchy. (4) Seven-day yield (5) Affiliated Companies

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

(6) At December 31, 2020, all or a portion of this security is pledged as collateral and/or margin deposit to cover future funding obligations. CVR Contingent Value Rights REIT A domestic Real Estate Investment Trust whose distributions pass-through with original tax character to the shareholder

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

FUTURES CONTRACTS ($000s)

Value and Expiration Notional Unrealized Gain Date Amount (Loss)

Long, 17 Russell 2000 E-Mini Index contracts 3/21 1,679 $ (5) Long, 15 S&P MidCap 400 E-Mini Index contracts 3/21 3,455 19 Net payments (receipts) of variation margin to date (9)

Variation margin receivable (payable) on open futures contracts $ 5

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

AFFILIATED COMPANIES ($000s)

The fund may invest in certain securities that are considered affiliated companies. As defined by the 1940 Act, an affiliated company is one in which the fund owns 5% or more of the outstanding voting securities, or a company that is under common ownership or control. The following securities were considered affiliated companies for all or some portion of the year ended December 31, 2020. Net realized gain (loss), investment income, change in net unrealized gain/loss, and purchase and sales cost reflect all activity for the period then ended.

Change in Net Net Realized Gain Unrealized Investment Affiliate (Loss) Gain/Loss Income T. Rowe Price Government Reserve Fund $ — $ — $ 121 T. Rowe Price Short-Term Fund — — —++ Totals $ —# $ — $ 121+

Supplementary Investment Schedule Value Purchase Sales Value Affiliate 12/31/19 Cost Cost 12/31/20 T. Rowe Price Government Reserve Fund $ 31,173 ¤ ¤ $ 3,129 T. Rowe Price Short-Term Fund 94,682 ¤ ¤ 79,236 Total $ 82,365^ # Capital gain distributions from mutual funds represented $0 of the net realized gain (loss). ++ Excludes earnings on securities lending collateral, which are subject to rebates and fees as described in Note 4. + Investment income comprised $121 of dividend income and $0 of interest income. ¤ Purchase and sale information not shown for cash management funds. ^ The cost basis of investments in affiliated companies was $82,365.

The accompanying notes are an integral part of these financial statements.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

December 31, 2020

STATEMENT OF ASSETS AND LIABILITIES ($000s, except shares and per share amounts)

Assets Investments in securities, at value (cost $690,598) $ 1,244,834 Receivable for shares sold 1,369 Dividends receivable 887 Cash 120 Variation margin receivable on futures contracts 5 Other assets 71 Total assets 1,247,286

Liabilities Obligation to return securities lending collateral 79,236 Payable for shares redeemed 4,598 Payable for investment securities purchased 1,590 Investment management and administrative fees payable 404 Total liabilities 85,828

NET ASSETS $ 1,161,458

Net Assets Consist of: Total distributable earnings (loss) $ 630,156 Paid-in capital applicable to 31,286,397 shares of $0.0001 par value capital stock outstanding; 2,000,000,000 shares of the Corporation authorized 531,302

NET ASSETS $ 1,161,458

NET ASSET VALU E PER SHARE $ 37.12

The accompanying notes are an integral part of these financial statements.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

STATEMENT OF OPERATIONS ($000s)

Year Ended 12/31/20 Investment Income (Loss) Income Dividend $ 9,899 Securities lending 718 Interest 10 Other 7 Total income 10,634 Investment management and administrative expense 3,149

Net investment income 7,485

Realized and Unrealized Gain / Loss Net realized gain (loss) Securities 90,355 Futures (910) Net realized gain 89,445

Change in net unrealized gain / loss Securities 175,793 Futures (425) Change in net unrealized gain / loss 175,368 Net realized and unrealized gain / loss 264,813

INCREASE IN NET ASSETS FROM OPERATIONS $ 272,298

The accompanying notes are an integral part of these financial statements.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

STATEMENT OF CHANGES IN NET ASSETS ($000s)

Year Ended 12/31/20 12/31/19 Increase (Decrease) in Net Assets Operations Net investment income $ 7,485 $ 10,085 Net realized gain 89,445 39,370 Change in net unrealized gain / loss 175,368 159,089 Increase in net assets from operations 272,298 208,544

Distributions to shareholders Net earnings (33,873) (41,621)

Capital share transactions* Shares sold 144,814 117,606 Distributions reinvested 31,129 38,517 Shares redeemed (191,815) (142,475) Redemption fees received – 6 Increase (decrease) in net assets from capital share transactions (15,872) 13,654

Net Assets Increase during period 222,553 180,577 Beginning of period 938,905 758,328 End o f perio d $ 1,161,458 $ 938,905

*Share information Shares sold 5,212 4,213 Distributions reinvested 864 1,339 Shares redeemed (6,885) (5,086) Increase (decrease) in shares outstanding (809) 466

The accompanying notes are an integral part of these financial statements.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

NOTES TO FINANCIAL STATEMENTS

T. Rowe Price Index Trust, Inc. (the corporation) is registered under the Investment Company Act of 1940 (the 1940 Act). The Extended Equity Market Index Fund (the fund) is an open-end management investment company established by the corporation and intends to be diversified in approximately the same proportion as the index it tracks is diversified. The fund may become nondiversified for periods of time solely as a result of changes in the composition of the index (for example, changes in the relative market capitalization or index weighting of one or more securities in the index). The fund seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization U.S. stocks.

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation The fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 (ASC 946). The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), including, but not limited to, ASC 946. GAAP requires the use of estimates made by management. Management believes that estimates and valuations are appropriate; however, actual results may differ from those estimates, and the valuations reflected in the accompanying financial statements may differ from the value ultimately realized upon sale or maturity. Investment Transactions, Investment Income, and Distributions Investment transactions are accounted for on the trade date basis. Income and expenses are recorded on the accrual basis. Realized gains and losses are reported on the identified cost basis. Premiums and discounts on debt securities are amortized for financial reporting purposes. Income tax-related interest and penalties, if incurred, are recorded as income tax expense. Dividends received from mutual fund investments are reflected as dividend income; capital gain distributions are reflected as realized gain/loss. Dividend income and capital gain distributions are recorded on the ex-dividend date. Distributions from REITs are initially recorded as dividend income and, to the extent such represent a return of capital or capital gain for tax purposes, are reclassified when such information becomes available. Non-cash dividends, if any, are recorded at the fair market value of the asset received. Distributions to shareholders are recorded on the ex-dividend date. Income distributions, if any, are declared and paid annually. A capital gain distribution may also be declared and paid by the fund annually.

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Redemption Fees Prior to April 1, 2019, a 0.50% fee was assessed on redemptions of fund shares held for 90 days or less to deter short-term trading and to protect the interests of long-term shareholders. Redemption fees were withheld from proceeds that shareholders received from the sale or exchange of fund shares. The fees were paid to the fund and were recorded as an increase to paid-in capital. The fees may have caused the redemption price per share to differ from the net asset value per share. Capital Transactions Each investor’s interest in the net assets of the fund is represented by fund shares. The fund’s net asset value (NAV) per share is computed at the close of the New York Stock Exchange (NYSE), normally 4 p.m. ET, each day the NYSE is open for business. However, the NAV per share may be calculated at a time other than the normal close of the NYSE if trading on the NYSE is restricted, if the NYSE closes earlier, or as may be permitted by the SEC. Purchases and redemptions of fund shares are transacted at the next-computed NAV per share, after receipt of the transaction order by T. Rowe Price Associates, Inc., or its agents. Indemnification In the normal course of business, the fund may provide indemnification in connection with its officers and directors, service providers, and/or private company investments. The fund’s maximum exposure under these arrangements is unknown; however, the risk of material loss is currently considered to be remote.

NOTE 2 - VALUATION

Fair Value The fund’s financial instruments are valued at the close of the NYSE and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The T. Rowe Price Valuation Committee (the Valuation Committee) is an internal committee that has been delegated certain responsibilities by the fund’s Board of Directors (the Board) to ensure that financial instruments are appropriately priced at fair value in accordance with GAAP and the 1940 Act. Subject to oversight by the Board, the Valuation Committee develops and oversees pricing-related policies and procedures and approves all fair value determinations. Specifically, the Valuation Committee establishes policies and procedures used in valuing financial instruments, including those which cannot be valued in accordance with normal procedures or using pricing vendors; determines pricing techniques, sources, and persons eligible to effect fair value pricing actions; evaluates the services and performance of the pricing vendors; oversees the pricing process to ensure policies and procedures are being followed; and provides guidance on internal controls and valuation-related matters. The Valuation Committee provides periodic reporting to the Board on valuation matters.

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Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value: Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting date Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads) Level 3 – unobservable inputs (including the fund’s own assumptions in determining fair value) Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values. Valuation Techniques Equity securities, including exchange-traded funds, listed or regularly traded on a securities exchange or in the over-the-counter (OTC) market are valued at the last quoted sale price or, for certain markets, the official closing price at the time the valuations are made. OTC Bulletin Board securities are valued at the mean of the closing bid and asked prices. A security that is listed or traded on more than one exchange is valued at the quotation on the exchange determined to be the primary market for such security. Listed securities not traded on a particular day are valued at the mean of the closing bid and asked prices for domestic securities.

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Debt securities generally are traded in the OTC market and are valued at prices furnished by independent pricing services or by broker dealers who make markets in such securities. When valuing securities, the independent pricing services consider the yield or price of bonds of comparable quality, coupon, maturity, and type, as well as prices quoted by dealers who make markets in such securities. Investments in mutual funds are valued at the mutual fund’s closing NAV per share on the day of valuation. Futures contracts are valued at closing settlement prices. Assets and liabilities other than financial instruments, including short-term receivables and payables, are carried at cost, or estimated realizable value, if less, which approximates fair value. Investments for which market quotations or market-based valuations are not readily available or deemed unreliable are valued at fair value as determined in good faith by the Valuation Committee, in accordance with fair valuation policies and procedures. The objective of any fair value pricing determination is to arrive at a price that could reasonably be expected from a current sale. Financial instruments fair valued by the Valuation Committee are primarily private placements, restricted securities, warrants, rights, and other securities that are not publicly traded. Factors used in determining fair value vary by type of investment and may include market or investment specific considerations. The Valuation Committee typically will afford greatest weight to actual prices in arm’s length transactions, to the extent they represent orderly transactions between market participants, transaction information can be reliably obtained, and prices are deemed representative of fair value. However, the Valuation Committee may also consider other valuation methods such as market-based valuation multiples; a discount or premium from market value of a similar, freely traded security of the same issuer; discounted cash flows; yield to maturity; or some combination. Fair value determinations are reviewed on a regular basis and updated as information becomes available, including actual purchase and sale transactions of the investment. Because any fair value determination involves a significant amount of judgment, there is a degree of subjectivity inherent in such pricing decisions, and fair value prices determined by the Valuation Committee could differ from those of other market participants.

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Valuation Inputs The following table summarizes the fund’s financial instruments, based on the inputs used to determine their fair values on December 31, 2020 (for further detail by category, please refer to the accompanying Portfolio of Investments):

($000s) Level 1 Level 2 Level 3 Total Value Assets Common Stocks $ 1,159,690 $ 27 $ 3 $ 1,159,720 Short-Term Investments 3,129 2,749 — 5,878 Securities Lending Collateral 79,236 — — 79,236 Total Securities 1,242,055 2,776 3 1,244,834 Futures Contracts* 19 — — 19

Total $ 1,242,074 $ 2,776 $ 3 $ 1,244,853

Liabilities Futures Contracts* $ 5 $ — $ — $ 5

*The fair value presented includes cumulative gain (loss) on open futures contracts; however, the net value reflected on the accompanying Portfolio of Investments is only the unsettled variation margin receivable (payable) at that date.

NOTE 3 - DERIVATIVE INSTRUMENTS

During the year ended December 31, 2020, the fund invested in derivative instruments. As defined by GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variable; it requires little or no initial investment and permits or requires net settlement. The fund invests in derivatives only if the expected risks and rewards are consistent with its investment objectives, policies, and overall risk profile, as described in its prospectus and Statement of Additional Information. The fund may use derivatives for a variety of purposes, such as seeking to hedge against declines in principal value, increase yield, invest in an asset with greater efficiency and at a lower cost than is possible through direct investment, to enhance return, or to adjust credit exposure. The risks associated with the use of derivatives are different from, and potentially much greater than, the risks associated with investing directly in the instruments on which the derivatives are based. The fund at all times maintains sufficient cash reserves, liquid assets, or other SEC-permitted asset types to cover its settlement obligations under open derivative contracts.

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The fund values its derivatives at fair value and recognizes changes in fair value currently in its results of operations. Accordingly, the fund does not follow hedge accounting, even for derivatives employed as economic hedges. Generally, the fund accounts for its derivatives on a gross basis. It does not offset the fair value of derivative liabilities against the fair value of derivative assets on its financial statements, nor does it offset the fair value of derivative instruments against the right to reclaim or obligation to return collateral. As of December 31, 2020, the fund held equity futures; the value reflected on the accompanying Statement of Assets and Liabilities is the related unsettled variation margin. Additionally, during the year ended December 31, 2020, the fund recognized $910,000 of realized loss on Futures and a $425,000 change in unrealized gain/loss on Futures related to its investments in equity derivatives; such amounts are included on the accompanying Statement of Operations. Counterparty Risk and Collateral The fund invests in exchange-traded or centrally cleared derivative contracts, such as futures, exchange-traded options, and centrally cleared swaps. Counterparty risk on such derivatives is minimal because the clearinghouse provides protection against counterparty defaults. For futures and centrally cleared swaps, the fund is required to deposit collateral in an amount specified by the clearinghouse and the clearing firm (margin requirement), and the margin requirement must be maintained over the life of the contract. Each clearinghouse and clearing firm, in its sole discretion, may adjust the margin requirements applicable to the fund. Collateral may be in the form of cash or debt securities issued by the U.S. government or related agencies. Cash posted by the fund is reflected as cash deposits in the accompanying financial statements and generally is restricted from withdrawal by the fund; securities posted by the fund are so noted in the accompanying Portfolio of Investments; both remain in the fund’s assets. While typically not sold in the same manner as equity or fixed income securities, exchange-traded or centrally cleared derivatives may be closed out only on the exchange or clearinghouse where the contracts were traded. This ability is subject to the liquidity of underlying positions. As of December 31, 2020, securities valued at $347,000 had been posted by the fund for exchange-traded and/or centrally cleared derivatives. Futures Contracts The fund is subject to equity price risk in the normal course of pursuing its investment objectives and uses futures contracts to help manage such risk. The fund may enter into futures contracts as an efficient means of maintaining liquidity while being invested in the market, to facilitate trading, or to reduce transaction costs. A futures contract provides for the future sale by one party and purchase by another of a

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specified amount of a specific underlying financial instrument at an agreed-upon price, date, time, and place. The fund currently invests only in exchange-traded futures, which generally are standardized as to maturity date, underlying financial instrument, and other contract terms. Payments are made or received by the fund each day to settle daily fluctuations in the value of the contract (variation margin), which reflect changes in the value of the underlying financial instrument. Variation margin is recorded as unrealized gain or loss until the contract is closed. The value of a futures contract included in net assets is the amount of unsettled variation margin; net variation margin receivable is reflected as an asset and net variation margin payable is reflected as a liability on the accompanying Statement of Assets and Liabilities. Risks related to the use of futures contracts include possible illiquidity of the futures markets, contract prices that can be highly volatile and imperfectly correlated to movements in hedged security values, and potential losses in excess of the fund’s initial investment. During the year ended December 31, 2020, the volume of the fund’s activity in futures, based on underlying notional amounts, was generally between 0% and 4% of net assets.

NOTE 4 - OTHER INVESTMENT TRANSACTIONS

Consistent with its investment objective, the fund engages in the following practices to manage exposure to certain risks and/or to enhance performance. The investment objective, policies, program, and risk factors of the fund are described more fully in the fund’s prospectus and Statement of Additional Information. Securities Lending The fund may lend its securities to approved borrowers to earn additional income. Its securities lending activities are administered by a lending agent in accordance with a securities lending agreement. Security loans generally do not have stated maturity dates, and the fund may recall a security at any time. The fund receives collateral in the form of cash or U.S. government securities. Collateral is maintained over the life of the loan in an amount not less than the value of loaned securities; any additional collateral required due to changes in security values is delivered to the fund the next business day. Cash collateral is invested in accordance with investment guidelines approved by fund management. Additionally, the lending agent indemnifies the fund against losses resulting from borrower default. Although risk is mitigated by the collateral and indemnification, the fund could experience a delay in recovering its securities and a possible loss of income or value if the borrower fails to return the securities, collateral investments decline in value, and the lending agent fails to perform. Securities lending revenue consists of earnings on invested collateral and borrowing fees, net of any rebates to the borrower, compensation to the lending agent, and other

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administrative costs. In accordance with GAAP, investments made with cash collateral are reflected in the accompanying financial statements, but collateral received in the form of securities is not. At December 31, 2020, the value of loaned securities was $75,508,000; the value of cash collateral and related investments was $79,236,000. Other Purchases and sales of portfolio securities other than short-term securities aggregated $317,792,000 and $328,667,000, respectively, for the year ended December 31, 2020.

NOTE 5 - FEDERAL INCOME TAXES

Generally, no provision for federal income taxes is required since the fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and distribute to shareholders all of its taxable income and gains. Distributions determined in accordance with federal income tax regulations may differ in amount or character from net investment income and realized gains for financial reporting purposes. The fund files U.S. federal, state, and local tax returns as required. The fund’s tax returns are subject to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return but which can be extended to six years in certain circumstances. Tax returns for open years have incorporated no uncertain tax positions that require a provision for income taxes. Financial reporting records are adjusted for permanent book/tax differences to reflect tax character but are not adjusted for temporary differences. The permanent book/tax adjustments have no impact on results of operations or net assets and relate primarily to a tax practice that treats a portion of the proceeds from each redemption of capital shares as a distribution of taxable net investment income or realized capital gain and the recharacterization of distributions. For the year ended December 31, 2020, the following reclassification was recorded:

($000s) Total distributable earnings (loss) $ (3,287) Paid-in capital 3,287

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Distributions during the years ended December 31, 2020 and December 31, 2019, were characterized for tax purposes as follows:

($000s) December 31 2020 2019 Ordinary income $ 7,324 $ 9,863 Long-term capital gain 26,549 31,758

Total distributions $ 33,873 $ 41,621

At December 31, 2020, the tax-basis cost of investments, including derivatives, and components of net assets were as follows:

($000s) Cost of investments $ 692,080

Unrealized appreciation $ 560,186 Unrealized depreciation (7,418) Net unrealized appreciation (depreciation) 552,768 Undistributed ordinary income 581 Undistributed long-term capital gain 76,807 Paid-in capital 531,302

Net assets $ 1,161,458

The difference between book-basis and tax-basis net unrealized appreciation (depreciation) is attributable to the deferral of losses from wash sales for tax purposes.

NOTE 6 - RELATED PARTY TRANSACTIONS

The fund is managed by T. Rowe Price Associates, Inc. (Price Associates), a wholly owned subsidiary of T. Rowe Price Group, Inc. (Price Group). The investment management and administrative agreement between the fund and Price Associates provides for an all-inclusive annual fee equal to 0.35% of the fund’s average daily net assets. The fee is computed daily and paid monthly. The all-inclusive fee covers

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investment management services and ordinary, recurring operating expenses but does not cover interest expense; expenses related to borrowing, taxes, and brokerage; or nonrecurring extraordinary expenses. Additionally, the fund is one of several mutual funds in which certain college savings plans managed by Price Associates may invest. As approved by the fund’s Board of Directors, shareholder servicing costs associated with each college savings plan are allocated to the fund in proportion to the average daily value of its shares owned by the college savings plan. Shareholder servicing costs allocated to the fund are borne by Price Associates, pursuant to the fund’s all-inclusive fee agreement. At December 31, 2020, approximately 3% of the outstanding shares of the fund were held by college savings plans. The fund may invest its cash reserves in certain open-end management investment companies managed by Price Associates and considered affiliates of the fund: the T. Rowe Price Government Reserve Fund or the T. Rowe Price Treasury Reserve Fund, organized as money market funds, or the T. Rowe Price Short-Term Fund, a short-term bond fund (collectively, the Price Reserve Funds). The Price Reserve Funds are offered as short-term investment options to mutual funds, trusts, and other accounts managed by Price Associates or its affiliates and are not available for direct purchase by members of the public. Cash collateral from securities lending is invested in the T. Rowe Price Short-Term Fund. The Price Reserve Funds pay no investment management fees. The fund may participate in securities purchase and sale transactions with other funds or accounts advised by Price Associates (cross trades), in accordance with procedures adopted by the fund’s Board and Securities and Exchange Commission rules, which require, among other things, that such purchase and sale cross trades be effected at the independent current market price of the security. During the year ended December 31, 2020, the fund had no purchases or sales cross trades with other funds or accounts advised by Price Associates. Effective January 1, 2020, Price Associates has voluntarily agreed to reimburse the fund from its own resources on a monthly basis for the cost of investment research embedded in the cost of the fund’s securities trades. This agreement may be rescinded at any time. For the year ended December 31, 2020, this reimbursement amounted to $13,000, which is included in Net realized gain (loss) on Securities in the Statement of Operations.

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NOTE 7 - OTHER MATTERS

Unpredictable events such as environmental or natural disasters, war, terrorism, pandemics, outbreaks of infectious diseases, and similar public health threats may significantly affect the economy and the markets and issuers in which a fund invests. Certain events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic regions, countries, sectors, and industries more significantly than others, and exacerbate other pre-existing political, social, and economic risks. During 2020, a novel strain of coronavirus (COVID-19) resulted in disruptions to global business activity and caused significant volatility and declines in global financial markets. These types of events, such as the global pandemic caused by COVID-19, may also cause widespread fear and uncertainty, and result in, among other things: enhanced health screenings, quarantines, cancellations, and travel restrictions, including border closings; disruptions to business operations, supply chains and customer activity; exchange trading suspensions and closures, and overall reduced liquidity of securities, derivatives, and commodities trading markets; reductions in consumer demand and economic output; and significant challenges in healthcare service preparation and delivery. The fund could be negatively impacted if the value of a portfolio holding were harmed by such political or economic conditions or events. In addition, the operations of the fund, its investment advisers, and the fund’s service providers may be significantly impacted, or even temporarily halted, as a result of any impairment to their information technology and other operational systems, extensive employee illnesses or unavailability, government quarantine measures, and restrictions on travel or meetings and other factors related to public emergencies. Governmental and quasi-governmental authorities and regulators have in the past responded to major economic disruptions with a variety of significant fiscal and monetary policy changes, including but not limited to, direct capital infusions into companies, new monetary programs, and dramatically lower interest rates. An unexpected or quick reversal of these policies, or the ineffectiveness of these policies, could negatively impact overall investor sentiment and further increase volatility in securities markets. The impact of this outbreak has adversely affected the economies of many nations and the entire global economy and may impact individual issuers and capital markets in ways that cannot be foreseen. Other infectious illness outbreaks that may arise in the future could have similar or other unforeseen effects. The duration of this outbreak or others and their effects cannot be determined with certainty.

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of T. Rowe Price Index Trust, Inc. and Shareholders of T. Rowe Price Extended Equity Market Index Fund Opinion on the Financial Statements We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of T. Rowe Price Extended Equity Market Index Fund (one of the funds constituting T. Rowe Price Index Trust, Inc., referred to hereafter as the “Fund”) as of December 31, 2020, the related statement of operations for the year ended December 31, 2020, the statement of changes in net assets for each of the two years in the period ended December 31, 2020, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2020 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2020, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2020 and the financial highlights for each of the five years in the period ended December 31, 2020 in conformity with accounting principles generally accepted in the United States of America. Basis for Opinion These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2020 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP Baltimore, Maryland February 17, 2021

We have served as the auditor of one or more investment companies in the T. Rowe Price group of investment companies since 1973.

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TAX INFORMATION (UNAUDITED) FOR THE TAX YEAR ENDED 12/31/20 We are providing this information as required by the Internal Revenue Code. The amounts shown may differ from those elsewhere in this report because of differences between tax and financial reporting requirements. The fund’s distributions to shareholders included: §§$349,000 from short-term capital gains §§$29,575,000 from long-term capital gains, subject to a long-term capital gains tax rate not greater than 20%. For taxable non-corporate shareholders, $7,149,000 of the fund’s income represents qualified dividend income subject to a long-term capital gains tax rate of not greater than 20%. For corporate shareholders, $6,772,000 of the fund’s income qualifies for the dividends- received deduction. For individuals and certain trusts and estates which are entitled to claim a deduction of up to 20% of their combined qualified real estate investment trust (REIT) dividends, $481,000 of the fund’s income qualifies as qualified real estate investment trust (REIT) dividends.

INFORMATION ON PROXY VOTING POLICIES, PROCEDURES, AND RECORDS A description of the policies and procedures used by T. Rowe Price funds and portfolios to determine how to vote proxies relating to portfolio securities is available in each fund’s Statement of Additional Information. You may request this document by calling 1-800-225-5132 or by accessing the SEC’s website, sec.gov. The description of our proxy voting policies and procedures is also available on our corporate website. To access it, please visit the following Web page: https://www.troweprice.com/corporate/en/utility/policies.html

Scroll down to the section near the bottom of the page that says, “Proxy Voting Policies.” Click on the Proxy Voting Policies link in the shaded box. Each fund’s most recent annual proxy voting record is available on our website and through the SEC’s website. To access it through T. Rowe Price, visit the website location shown above, and scroll down to the section near the bottom of the page that says, “Proxy Voting Records.” Click on the Proxy Voting Records link in the shaded box.

HOW TO OBTAIN QUARTERLY PORTFOLIO HOLDINGS Effective for reporting periods on or after March 1, 2019, a fund, except a money market fund, files a complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third72 quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Prior to March 1, 2019, a fund, including a money market fund, filed a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal yeararxmx_1220_P4 on FormProof N-Q. A # money market fund files detailed month-end portfolio holdings information on Form N-MFP with the SEC each month and posts a complete schedule of portfolio holdings on its website (troweprice.com) as of each month-end for the previous six months. A fund’s Forms N-PORT, N-MFP, and N-Q are available electronically on the SEC’s website (sec.gov). INFORMATION ON PROXY VOTING POLICIES, PROCEDURES, AND RECORDS A description of the policies and procedures used by T. Rowe Price funds and portfolios to determine how to vote proxies relating to portfolio securities is available in each fund’s Statement of Additional Information. You may request this document by calling 1-800-225-5132 or by accessing the SEC’s website, sec.gov. The description of our proxy voting policies and procedures is also available on our corporate website. To access it, please visit the following Web page: https://www.troweprice.com/corporate/en/utility/policies.html Scroll down to the section near the bottom of the page that says, “Proxy Voting Policies.” Click on the Proxy Voting Policies link in the shaded box. Each fund’s most recent annual proxy voting record is available on our website and through the SEC’s website. To access it through T. Rowe Price, visit the website location shown above,T. ROWE and scroll PRICE down Exte tond thee dsection Equit neary Ma therk etbottom Inde ofx Fundthe page that says, “Proxy Voting Records.” Click on the Proxy Voting Records link in the shaded box.

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ABOUT THE FUND’S DIRECTORS AND OFFICERS Your fund is overseen by a Board of Directors (Board) that meets regularly to review a wide variety of matters affecting or potentially affecting the fund, including performance, investment programs, compliance matters, advisory fees and expenses, service providers, and business and regulatory affairs. The Board elects the fund’s officers, who are listed in the final table. At least 75% of the Board’s members are considered to be independent, i.e., not “interested persons” as defined in Section 2(a)(19) of the 1940 Act, of the Boards of T. Rowe Price Associates, Inc. (T. Rowe Price), and its affiliates; “interested” directors and officers are employees of T. Rowe Price. The business address of each director and officer is 100 East Pratt Street, Baltimore, Maryland 21202. The Statement of Additional Information includes additional information about the fund directors and is available without charge by calling a T. Rowe Price representative at 1-800-638-5660.

INDEPENDENT DIRECTORS(a)

Name (Year of Birth) Year Elected [Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and Portfolios Overseen] Other Investment Companies During the Past Five Years Teresa Bryce Bazemore President, Radian Guaranty (2008 to 2017); Chief Executive Officer, (1959) Bazemore Consulting LLC (2018 to present); Director, Chimera 2018 Investment Corporation (2017 to present); Director, First Industrial [190] Realty Trust (2020 to present); Director, Federal Home Loan Bank of Pittsburgh (2017 to 2019) Ronald J. Daniels President, The Johns Hopkins University(b) and Professor, Political (1959) Science Department, The Johns Hopkins University (2009 to present); 2018 Director, Lyndhurst Holdings (2015 to present); Director, BridgeBio [190] Pharma, Inc. (2020 to present) Bruce W. Duncan President, Chief Executive Officer, and Director, CyrusOne, Inc. (1951) (2020 to present); Chief Executive Officer and Director (2009 to 2013 2016), Chairman of the Board (2016 to 2020), and President (2009 to [190] 2016), First Industrial Realty Trust, owner and operator of industrial properties; Chairman of the Board (2005 to 2016) and Director (1999 to 2016), Starwood Hotels & Resorts, a hotel and leisure company; Member, Investment Company Institute Board of Governors (2017 to 2019); Member, Independent Directors Council Governing Board (2017 to 2019); Senior Advisor, KKR (2018 to present); Director, Boston Properties (2016 to present); Director, Marriott International, Inc. (2016 to 2020) Robert J. Gerrard, Jr. Advisory Board Member, Pipeline Crisis/Winning Strategies, a (1952) collaborative working to improve opportunities for young African 2012 Americans (1997 to 2016); Chairman of the Board, all funds (since [190] July 2018)

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

INDEPENDENT DIRECTORS(a) (CONTINUED)

Name (Year of Birth) Year Elected [Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and Portfolios Overseen] Other Investment Companies During the Past Five Years Paul F. McBride Advisory Board Member, Vizzia Technologies (2015 to present); Board (1956) Member, Dunbar Armored (2012 to 2018) 2013 [190] Cecilia E. Rouse, Ph.D. Dean, Princeton School of Public and International Affairs (2012 to (1963) present); Professor and Researcher, Princeton University (1992 to 2012 present); Director of Education Studies Committee, MDRC, a nonprofit [190] education and social policy research organization (2011 to 2020); Member, National Academy of Education (2010 to present); Board Member, National Bureau of Economic Research (2011 to present); Board Member of the Council on Foreign Relations (2018 to present); Board Member, The Pennington School (2017 to present); Board Member, the University of Rhode Island (2020 to present); Chair of Committee on the Status of Minority Groups in the Economic Profession of the American Economic Association (2012 to 2018); Vice President (2015 to 2016) and Board Member (2018 to present), American Economic Association John G. Schreiber Owner/President, Centaur Capital Partners, Inc., a real estate investment (1946) company (1991 to present); Cofounder, Partner, and Cochairman of 2001 the Investment Committee, Blackstone Real Estate Advisors, L.P. (1992 [190] to 2015); Director, Blackstone Mortgage Trust, a real estate finance company (2012 to 2016); Director and Chairman of the Board, Brixmor Property Group, Inc. (2013 to present); Director, Hilton Worldwide (2007 to present); Director, Hudson Pacific Properties (2014 to 2016); Director, Invitation Homes (2014 to 2017); Director, JMB Realty Corporation (1980 to present)

(a)All information about the independent directors was current as of December 31, 2019, unless otherwise indicated, except for the number of portfolios overseen, which is current as of the date of this report. (b)William J. Stromberg, president and chief executive officer of T. Rowe Price Group, Inc., the parent company of the Price Funds’ investment advisor, has served on the Board of Trustees of Johns Hopkins University since 2014.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

INTERESTED DIRECTORS(a)

Name (Year of Birth) Year Elected [Number of T. Rowe Price Principal Occupation(s) and Directorships of Public Companies and Portfolios Overseen] Other Investment Companies During the Past Five Years David Oestreicher General Counsel, Vice President, and Secretary, T. Rowe Price Group, (1967) Inc.; Chairman of the Board, Chief Executive Officer, President, and 2018 Secretary, T. Rowe Price Trust Company; Director, Vice President, [190] and Secretary, T. Rowe Price, T. Rowe Price Investment Services, Inc., T. Rowe Price Retirement Plan Services, Inc., and T. Rowe Price Services, Inc.; Vice President and Secretary, T. Rowe Price International; Vice President, T. Rowe Price Hong Kong (Price Hong Kong), T. Rowe Price Japan (Price Japan), and T. Rowe Price Singapore (Price Singapore); Principal Executive Officer and Executive Vice President, all funds Robert W. Sharps, CFA, CPA Director and Vice President, T. Rowe Price; Vice President, T. Rowe (1971) Price Group, Inc., and T. Rowe Price Trust Company 2017 [190]

(a)All information about the interested directors was current as of December 31, 2019, unless otherwise indicated, except for the number of portfolios overseen, which is current as of the date of this report.

OFFICERS

Name (Year of Birth) Position Held With Index Trust Principal Occupation(s) E. Frederick Bair, CFA, CPA (1969) Vice President, T. Rowe Price, T. Rowe Price Group, Vice President Inc., and T. Rowe Price Trust Company Darrell N. Braman (1963) Vice President, Price Hong Kong, Price Singapore, Vice President T. Rowe Price, T. Rowe Price Group, Inc., T. Rowe Price International, T. Rowe Price Investment Services, Inc., and T. Rowe Price Services, Inc. Alan S. Dupski, CPA (1982) Vice President, T. Rowe Price, T. Rowe Price Group, Principal Financial Officer, Vice President, Inc., and T. Rowe Price Trust Company and Treasurer Alexa M. Gagliardi (1988) Vice President, T. Rowe Price and T. Rowe Price President Trust Company John R. Gilner (1961) Chief Compliance Officer and Vice President, Chief Compliance Officer T. Rowe Price; Vice President, T. Rowe Price Group, Inc., and T. Rowe Price Investment Services, Inc.

Unless otherwise noted, officers have been employees of T. Rowe Price or T. Rowe Price International for at least 5 years.

arxmx_1220_P4Proof # T. ROWE PRICE Extended Equity Market Index Fund

OFFICERS (CONTINUED)

Name (Year of Birth) Position Held With Index Trust Principal Occupation(s) Gary J. Greb (1961) Vice President, T. Rowe Price, T. Rowe Price Vice President International, and T. Rowe Price Trust Company Paul J. Krug, CPA (1964) Vice President, T. Rowe Price, T. Rowe Price Group, Vice President Inc., and T. Rowe Price Trust Company Fran M. Pollack-Matz (1961) Vice President, T. Rowe Price and T. Rowe Price Vice President and Secretary Group, Inc. Shannon H. Rauser (1987) Assistant Vice President, T. Rowe Price Assistant Secretary Neil Smith (1972) Vice President, Price Hong Kong, Price Japan, Price Vice President Singapore, T. Rowe Price Group, Inc., and T. Rowe Price International Megan Warren (1968) Vice President, T. Rowe Price, T. Rowe Price Group, Vice President Inc., T. Rowe Price Retirement Plan Services, Inc., T. Rowe Price Services, Inc., and T. Rowe Price Trust Company; formerly, Executive Director, JPMorgan Chase (to 2017) Michael T. Wehn (1984) Vice President, T. Rowe Price and T. Rowe Price Vice President Group, Inc.

Unless otherwise noted, officers have been employees of T. Rowe Price or T. Rowe Price International for at least 5 years.

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arxmx_1220_P4Proof # You have many investment goals.

RETIREMENT GENERAL INVESTING COLLEGE SAVINGS

F124-050 2/21 T. Rowe Price Investment Services, Inc. | 100 East Pratt Street | Baltimore, MD 21202-1009

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