Welcome to T. Rowe Price. Please review the following Terms and Conditions of Use (Terms of Use) before accessing the T. Rowe Price website (Site). By accessing this Site, you agree that upon entry, you are bound by these Terms of Use. The Terms of Use may periodically change; see the section titled "Effective Date and Additional Changes" below for more information. If for any reason you do not agree to these Terms of Use, please do not use this Site. The contents of this Site are owned and operated by T. Rowe Price Group, Inc. and its subsidiaries and affiliates (collectively T. Rowe Price) and are protected by applicable copyright laws. T. Rowe Price may modify, suspend, discontinue, or restrict the use and availability of any portion of this Site at any time, without notice or liability. Individual access and use of this Site may be monitored by T. Rowe Price and used for T. Rowe Price's internal business purposes, without liability. You can get more information about information we collect from use of the Site by consulting our Privacy Notice, which you can access via a separate link at the bottom of this page.

By accessing and/or using this Site, you agree to the following limited license and restrictions on use:

• You agree not to redeliver, reproduce, or circumvent any page, text, image, or materials on this Site using "framing" or other automatic device, program, algorithm, or methodology or any other similar technology;
  
  
• You agree not to modify, copy, distribute, transmit, post, display, perform, reproduce, publish, broadcast, license, create derivative works from, transfer, sell, or exploit any reports, data, information, content, software, RSS and podcast feeds, products, services, or other materials on, generated by, or obtained from this Site, whether through links or otherwise (collectively, Materials).
  
  
• You agree not to attempt to probe, scan, or test the vulnerability of the Site or to engage in any conduct to gain unauthorized access that could damage, disable, or overburden (i) this Site, (ii) any Materials or services provided through this Site, or (iii) any systems, networks, servers, or accounts related to this Site, including, without limitation, using devices or software that could be used to exploit the Site, or attempt to interfere with the proper working of the Site using devices or software that provide repeated automated access to this Site, other than those made available through express written permission from T. Rowe Price.
  
  
• You agree not to attempt to gain unauthorized access through the use of forged headers or manipulated identifiers in order to disguise or misrepresent the origin of any message sent to T. Rowe Price or attempt to gain unauthorized access to Materials, services, systems, networks, servers, or accounts connected to or associated with this Site through hacking, password "mining," or any other illegitimate means.
  
  
• Because all servers have limited capacity and are used by many people, you agree not to use the Site in any manner or take any action that imposes an unreasonable or excessively large load that could damage or overburden the infrastructure of the Site, any T. Rowe Price server, or on any network connected to any T. Rowe Price server.
  
  
• You agree not to use any device, software, or routine that could interfere or attempt to interfere with the proper working of the Site or in any manner that would interfere with any other party's use of the Site.

The Site is protected by applicable copyright laws. Accordingly, you may not copy, distribute, modify, post, or frame-in the Site, including any text, graphics, video, audio, software code, user interface design, or logos. You may not link to this Site unless you comply with the linking rules and conditions listed below (Linking Conditions), and to the extent you comply with the Linking Conditions at all times, you are granted limited, revocable, nonexclusive rights to create a hyperlink to this Site (Link). The Linking Conditions are:

• You agree that the text of the Link must be T. Rowe Price specific. You may not use any T. Rowe Price logo or graphic, or any other T. Rowe Price trademark, as part of the Link without T. Rowe Price's express written permission; and
  
  
• You agree that the Link and surrounding context on the site that contains the Link must not: (a) falsely represent, mislead, or misrepresent any relationship between T. Rowe Price and the site that contains the Link, including suggestions of association, affiliation, endorsement, or sponsorship, and/or partnership; (b) portray T. Rowe Price or its affiliates, or their products or services in a false, misleading, derogatory, or otherwise offensive manner; or (c) deliver the Materials in a manner that is not approved by T. Rowe Price or alter the content, layout, look, feel or purpose of the Site.

The effective date of these Terms of Use is March 12, 2021. From time to time, we may change these Terms of Use. When they are revised or materially changed, we will update the effective date. You can determine whether there have been any changes since the last time you reviewed them by simply checking the effective date.