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Important Legal Information

The information in the T. Rowe Price website is exclusively directed at qualified investors within the meaning of the Federal Act on Collective Investment Schemes ('CISA') and its implementing ordinance as well as according to the most recent interpretation of the Swiss Financial Market Supervisory Authority FINMA with domicile in Switzerland.

In particular the following are considered qualified investors within the meaning of CISA: supervised financial intermediaries (e.g. banks, securities dealers, fund management companies), supervised insurance institutions, public entities and pension schemes with professional treasury management, enterprises with professional treasury management, high net worth individuals who have elected in writing to be deemed qualified investors and independent asset managers who have delcared in writing that they will be using the information herein only for clients that are qualified investors.

Information contained in the T. Rowe Price website is not intended for investors in any jurisdiction in which distribution or purchase is not authorised, including the jurisdiction of the reader of this information, where applicable. For example, the information herein is not for distribution to and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America to or for the benefit of United States persons. Information obtained from this site is intended specifically for the individuals who have agreed to these terms and conditions and may not be redistributed without prior consent from the T. Rowe Price Legal department.

Certain persons may have access to information regarding the T. Rowe Price Funds SICAV ('SICAV'), an investment company incorporated as "Société d'Investissement à Capital Variable" under the laws of Luxembourg. The SICAV and certain sub-funds have been approved for public distribution in other jurisdictions such as Switzerland. However, not all of the sub-funds accessible on this website may be registered for public distribution in or from Switzerland. The Swiss Financial Market Supervisory Authority FINMA publish a list of foreign collective investment schemes which are approved for public distribution in or from Switzerland on their website. First Independent Fund Services Ltd., Zurich, is the representative of the sub-funds of the SICAV which are approved for public distribution in or from Switzerland and JPMorgan Chase Bank, National Association, Columbus, Zurich Branch, acts as the paying agent in Switzerland of such sub-funds.

The T. Rowe Price Funds SICAV sub-funds referred to on the site may not be available to or suitable for you. Investment or other decisions should not be made solely on the basis of this website. In particular, you should not enter into any investment before you have read the corresponding fund documents such as the prospectus and the key investor information documents (KIIDs) as well as the annual and semiannual reports in order to familiarize yourself with the specific risk associated with a specific sub-fund. The prospectus contains more complete information about the sub-funds, including investment objectives, charges and expenses. The prospectus, the key investor information documents (KIIDs), the articles, as well as the annual and semiannual reports may be obtained free of charge from First Independent Fund Services Ltd., Zurich. However, the prospectus and other information relating to the sub-funds will not be intentionally distributed to persons in any country where such distribution would be contrary to local law or regulation.

Past performance of the T. Rowe Price Funds SICAV and other securities is not a guide to future performance. The value of securities and any income generated from them might decrease as well as increase. Changes in rates of exchange may also have an adverse effect on the value, price or income of securities. Investors should also be aware of the additional risks associated with investments in emerging markets, high yield securities and smaller companies.

The information on this website has been prepared for information purposes only and does neither constitute investment advice or other advertisement or recommendation nor an offer or solicitation to purchase or sell investment instruments, to effect any transaction or to enter into any legal relations. The investment instruments described may not be available to or suitable for all investors. You should consider, if appropriate, obtaining independent professional advice before making an investment decision and be aware of local laws governing investments.

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Unless otherwise noted, the content appearing in this Section of the T. Rowe Price website has been issued by T. Rowe Price International Ltd, 60 Queen Victoria Street, London EC4N 4TZ, which is authorised and regulated by the U.K. FCA.

This website does not provide investment advice or recommendations. Nothing in this website shall be considered a solicitation to buy or an offer to sell a security, or any other product or service, to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction.

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