Vote your proxy today

URGENT

Vote your proxy todayYour vote is needed today!

Joint Special Meeting of T. Rowe Price Funds

Dear Investor,Shareholder:

There’s still time to vote. We recently sent you proxy materials concerning important proposals affecting your fund(s). The proposals will be considered at a Joint Special Meeting of Shareholders to be held on July 25, 2018, at 8 a.m. ET, at the offices of T. Rowe Price Associates, Inc., located at 100 East Pratt Street, Baltimore, Maryland 21202. If youis quickly approaching, and our records indicate that we have not already voted on these proposals, we encourage youyet received your vote. Please take a few moments to follow the voting instructions included on the proxy card that was included withvote your proxy materials.shares today.

The directors of the T. Rowe Price mutual funds are seeking your vote on the election of new fund directors. Mutual fund directors overseeYOUR FUND’S BOARD RECOMMENDS THAT YOU VOTE "FOR" EACH PROPOSAL

Voting now helps minimize additional costs to the funds, avoids additional mailings, and are responsible for looking after the interests ofeliminates phone calls to shareholders. In addition to the election of directors, we are seeking your vote on certain policy proposals for some of the funds that will help T. Rowe Price manage the funds more effectively.

The Proxy Statement we sent to you contains important information regarding each of the proposals that you and other shareholders are being asked to consider.

You should have received A copy of the Proxy Statement may be viewed or downloaded at the website listed on your proxy statementcard. If you have any questions regarding the proposals, or need assistance with voting, you may call Computershare Fund Services, the Funds’ proxy solicitor, toll-free at 1-866-436-5968.

For your convenience, please utilize any of the following methods to submit your vote:

1. Vote Online.

Visit the website noted on the enclosed proxy voting card, and follow the instructions.

2. Vote by Phone.

Call the toll-free number printed on the enclosed proxy voting card, and follow the automated instructions. Available 7 days a week, 24 hours a day.

3. Speak with a Proxy Specialist.

Call 1-866-436-5968 with any questions. Specialists can assist with voting. Available Monday to Friday from 9 a.m. to 11 p.m. ET and Saturday from 12 p.m. to 6 p.m. ET.

4. Vote by U.S. mail or by email if you owned shares of at least one T. Rowe Price fund as of April 26, 2018, which isMail.

Mail your signed proxy voting card(s) in the record date for the proxy.

Each T. Rowe Price fund is owned by its shareholders, so, no matter how many shares you own,postage-paid envelope included with your vote is important to us.

Thank you for investing with T. Rowe Price and voting your proxy.