T. Rowe Price Global Value Equity Fund - I Class · NASDAQ:PRIGX
T. Rowe Price Global Value Equity Fund - I Class — T. Rowe Price — Annual US Equities Conference (2026)
22 slides from T. Rowe Price Global Value Equity Fund - I Class's conference presentation, Sep 19, 2026
Slide 1: What next for US Large Cap Growth?
Annual US Equities Conference What next for US Large Cap Growth? Key risks and opportunities THIS MARKETING COMMUNICATION IS FOR INVESTMENT PROFESSIONAL CLIENTS ONLY. NOT FOR FURTHER DISTRIBUTION.
Slide 2: Julian Cook, Portfolio Specialist
Julian Cook Portfolio Specialist T. R O W E P R I C E 2
Slide 3: Objective and Risks
T. Rowe Price Funds SICAV—US Large Cap Growth Equity Fund Objective and Risks Objective Risks – the following risks are materially relevant to the fund (refer to prospectus for further details): To increase the value of its shares, ▪ Equity – Equities can lose value rapidly for a variety of reasons
Slide 4: US Large Cap Growth Equity Fund investment approach and portfolio manager
T. Rowe Price Funds SICAV—US Large Cap Growth Equity Fund As at 31 March 2026 ▪ Russell 1000 Growth net Jon Friar, CFA In growth investing, free 30% Index benchmark 1 cash flow and its growth are Portfolio Manager the single biggest driver of ▪ 60-75 issuers US Large Cap Growth Equity Fund (LCG) fro
Slide 5: Jon Friar Career Timeline
Jon Friar Career Timeline As of 1 February 2026 2011–2015 Began investment career with T. Rowe Price Research Analyst—Financials Team ▪ Specialty Finance January 1, 2025 ▪ Regional & Money Center Banks July 31, 2017–March 31, 2023 Promoted to Co-PM of ▪ Payment & Processing companies Portfolio Manag
Slide 6: Co-Portfolio Manager, US Large-Cap Growth Equity Strategy
Co-Portfolio Manager, US Large-Cap Growth Equity Strategy
Slide 7: Core Investment Focus Areas in Large Cap Growth
Core Investment Focus Areas in Large Cap Growth ▪ AI ecosystem tracking (incl. OpenAI revenue as key signal) ▪ Re-evaluating software as an investable category ▪ Shift from Electrons to Photons in data center infrastructure ▪ Identifying long term structural winners 1 Economics Accrue Where? 2 Secon
Slide 8: Technology Lifecycle, it is still early. Patience…
Technology Lifecycle, it is still early. Patience… As of 31 March 2026 AI Technology Product or Customer Monetisation Application Adoption Heavy spend Select Early stage Success and advances productivity product needs measured by in AI exceed enhancing time to get revenue lags current use applicatio
Slide 9: Elite – Price Earnings Ratios and Earnings Growth Rates
Elite 8 – Price Earnings Ratios and Earnings Growth Rates As of 31 March 2026 40% PEG NTM (X) 1 31/03/2026 R1000G 1.7 35% NVIDIA 0.7 Broadcom 30% Broadcom 0.7 25% NVIDIA Alphabet 2.4 3-5 Yr EPS Growth Tesla 20% Meta 1.3 1 R1000G 15% Amazon 1.9 Meta Amazon 10% Apple 3.7 Alphabet Microsoft Apple Micro
Slide 10: Performance and Positioning Within the Elite 8 vs R1000G
Performance and Positioning Within the Elite 8 vs R1000G T. Rowe Price Funds SICAV—US Large Cap Growth Equity Fund As of 31 March 2026 Relative Performance Relative Positioning 0.0% -3.35 -6.5% 6.9% -2.07 -6.6% 28.9% 1.32 -8.3% 5.1% -0.49 -9.8% 5.1% -0.19 -10.4% -10.0% -0.11 -13.3% 1.1% -3.55 -17.3%
Slide 11: Select Themes and Exposures within US Large-Cap Growth
Select Themes and Exposures within US Large-Cap Growth T. Rowe Price Funds SICAV—US Large Cap Growth Equity Fund Top 10 positions % of Growth platforms In 2026 mostly on as at 31March 2026 Industry Fund individual stock level with durable unit considerations Nvidia Corp Semiconductors & Semiconducto
Slide 12: 10 Largest Over/Underweights
10 Largest Over/Underweights As of 31 March 2026 T. Rowe Price Funds SICAV – US Large Cap Growth Equity Fund vs. Russell 1000 Growth Index Net 30% Withholding TaxɎ % of % of % of % of Overweights Fund Index Difference Underweights Fund Index Difference Block Inc 2.8 0.0 2.7 Tesla Inc – 3.6 (3.6) How
Slide 13: Fund performance, periods ended March 2026
T. Rowe Price Funds SICAV―US Large Cap Growth Equity Fund Class Q (GBP) | Periods Ended 31 March 2026 Figures are shown in GBP Annualised YTD 1 year 3 years 5 years 7 years 10 years SICAV US Large Cap Growth Equity Fund―Class Q (GBP) -9.9% 9.6% 18.1% 10.0% 13.4% 16.8% (Stepped Out) (net of fees) ††
Slide 14: Fund calendar year performance
T. Rowe Price Funds SICAV―US Large Cap Growth Equity Fund Class Q (GBP) | Periods Ended 31 March 2026 Figures are shown in GBP Calendar Years 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 SICAV US Large Cap Growth Equity Fund—Class Q (GBP) 17.6% 22.4% 23.4% 10.8% 23.6% 34.7% 18.5% -25.4% 39
Slide 15: Block (XYZ)
Block (XYZ) As of 31 March 2026 A well-run, global leader in fintech across payments, banking and commerce Two-sided ecosystem linking consumers and sellers lowering customer acq costs (CAC) and boosting customer retention. Competitive Full-stack hardware/software/payments and underwriting creates h
Slide 16: Howmet Aerospace (HWM)
Howmet Aerospace (HWM) As of 31 March 2026 A focused leader in the provision of aerospace components and data center power-gen Mission critical engine components on long life platforms. High switching costs and durable pricing power. Broad Competitive content across engines and airframes Advantages
Slide 17: Arista Networks (ANET)
Arista Networks (ANET) As of 31 March 2026 Uniquely positioned company taking incremental share in a growing spend environment Leading networking solutions vendor focused on high throughput switches. Strong position with key hyperscalers (MSFT & META) and expanding client list with Anthropic and Com
Slide 18: Portfolio Snapshot
Portfolio Snapshot As of 31 March 2026 T. Rowe Price Funds SICAV—US Large Cap Growth Equity Fund Sector Diversification Percent 60.00 T. Rowe Price Funds SICAV—US Large Cap Growth Equity Fund 50.00 Russell 1000 Growth Index Net 30% Withholding TaxɎ 40.00 Difference 30.00 20.00 10.00 0.00 -10.0
Slide 19: Please share your feedback
Please share your feedback For every survey completed, £10 will go to One for the World Charity Enter passcode USEQUITY26 Scan QR code Enter your email address Complete surveys T. R O W E P R I C E 19
Slide 20: Next breakout
Annual US Equities Conference Next breakout Starts now ▪ In here for US Integrated Equity ▪ In the other breakout for US SRS
Slide 21: Additional Disclosures
Additional Disclosures Unless otherwise noted, the information provided in this material does not include content relating to Oak Hill Advisors, L.P., an alternative credit manager, which T. Rowe Price Group, Inc. acquired on 29 December 2021. Unless otherwise noted, numbers may not total due to rou
Slide 22: Important Information
Important Information The Funds are sub-funds of the T. Rowe Price Funds SICAV, a Luxembourg investment company with variable capital which is registered with Commission de Surveillance du Secteur Financier and which qualifies as an undertaking for collective investment in transferable securities (“