T. Rowe Price International Value Equity Fund (TRIGX) N-CSR Certified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-02958

T. Rowe Price International Funds, Inc.

(Exact name of registrant as specified in charter)

100 East Pratt Street, Baltimore, MD 21202

(Address of principal executive offices)

David Oestreicher

100 East Pratt Street, Baltimore, MD 21202

(Name and address of agent for service)

Registrant’s telephone number, including area code: (410) 345-2000

Date of fiscal year end: October 31

Date of reporting period: October 31, 2024

Item 1. Reports to Shareholders

(a) Report pursuant to Rule 30e-1

Annual Shareholder Report

October 31, 2024

Global Growth Stock Fund

Investor Class (RPGEX)

This annual shareholder report contains important information about Global Growth Stock Fund (the "fund") for the period of November 1, 2023 to October 31, 2024. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global Growth Stock Fund - Investor Class	$107	0.92%

What drove fund performance during the past 12 months?

• Global equity markets delivered strong returns over the reporting period. Exuberance for artificial intelligence (AI)-related segments of the market and hopes for central bank interest rate cuts helped fuel a prolonged market rally. Nevertheless, there were still periods of volatility, driven by concerns over the possibility of a global recession, geopolitical tensions, the potential for fewer interest rate cuts by central banks amid stubbornly high inflation, and economic challenges in China. 

• Versus the MSCI All Country World Index Net, the leading contributor to relative performance was stock selection in the information technology sector. Within the sector, our exposure to companies that directly benefited from accelerating AI demand, such as NVIDIA and Taiwan Semiconductor Manufacturing, helped relative returns, as did Vietnam’s information technology services company FPT. Holdings in the utilities sector also boosted relative results, where Constellation Energy benefited from the AI infrastructure buildout.

• Conversely, stock selection in industrials and business services detracted the most from relative performance, mainly due to our positions in multi-industrial conglomerate Roper Technologies and payroll and human resources software provider Paylocity Holding. Holdings in financials also hurt relative performance, most notably due to our position in One 97 Communications, which sold off in early 2024 on regulatory pressures.

• The fund applies an active, diversified, growth-oriented approach to identify companies with the potential for sustainable growth or relative improvement. Notable changes in positioning during the period included increasing our allocations to financials and information technology and reducing our allocations to health care and materials.

How has the fund performed?

Cumulative Returns of a Hypothetical $10,000 Investment as of October 31, 2024

	Investor Class	Regulatory Benchmark	Strategy Benchmark
2014	10,000	10,000	10,000
2015	9,949	9,815	9,999
2015	10,635	10,497	10,708
2015	10,619	10,325	10,721
2015	10,205	9,997	10,409
2016	9,365	9,148	9,567
2016	10,165	9,903	10,236
2016	10,509	10,280	10,733
2016	10,450	10,201	10,484
2017	10,802	10,788	10,947
2017	11,807	11,401	11,790
2017	12,802	12,033	12,519
2017	13,472	12,568	13,223
2018	15,000	13,753	14,589
2018	14,368	13,016	13,883
2018	14,864	13,353	14,439
2018	13,485	12,503	13,370
2019	14,341	12,724	13,658
2019	15,677	13,675	14,992
2019	15,721	13,746	15,272
2019	15,849	14,078	15,646
2020	17,230	14,764	16,900
2020	16,147	12,997	15,829
2020	19,774	14,736	18,927
2020	20,584	14,766	19,257
2021	24,656	17,277	22,291
2021	26,245	18,943	23,682
2021	27,529	19,625	24,970
2021	28,125	20,270	25,938
2022	24,475	19,563	23,895
2022	20,793	17,912	20,958
2022	20,349	17,568	20,754
2022	18,924	16,225	18,351
2023	20,552	17,999	20,442
2023	20,451	18,281	21,475
2023	22,378	19,836	23,933
2023	20,239	17,929	21,483
2024	22,820	20,644	25,180
2024	24,155	21,474	26,246
2024	25,760	23,212	28,659
2024	26,650	23,808	29,480

202411-4029887, 202412-3916066

F174-052 12/24

Average Annual Total Returns

	1 Year	5 Years	10 Years
Global Growth Stock Fund (Investor Class)	31.68%	10.95%	10.30%
MSCI All Country World Index Net (Regulatory Benchmark)	32.79	11.08	9.06
MSCI All Country World Index Growth Net (Strategy Benchmark)	37.22	13.51	11.42

The preceding line graph 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 fund’s performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.The fund’s past performance is not a good predictor of the fund’s future performance.Updated performance information can be found at www.troweprice.com.

What are some fund statistics?

Fund Statistics

• Total Net Assets (000s)$1,113,048
• Number of Portfolio Holdings193

• Investment Advisory Fees Paid (000s)$6,722
• Portfolio Turnover Rate61.5%

What did the fund invest in?

Sector Allocation (as a % of Net Assets)

Information Technology	26.6%
Financials	20.5
Industrials & Business Services	12.6
Health Care	9.8
Communication Services	8.2
Consumer Discretionary	7.5
Consumer Staples	5.8
Materials	4.0
Energy	3.1
Other	1.9

Top Ten Holdings (as a % of Net Assets)

NVIDIA	4.2%
Microsoft	4.0
Apple	4.0
Amazon.com	2.8
Meta Platforms	2.2
Alphabet	1.9
Eli Lilly	1.8
Taiwan Semiconductor Manufacturing	1.7
Roper Technologies	1.5
Sumber Alfaria Trijaya	1.3

If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.

MSCI does not accept any liability for any errors or omissions in the indexes or data, and hereby expressly disclaim all warranties of originality, accuracy, completeness, timeliness, merchantability and fitness for a particular purpose. No party may rely on any indexes or data contained in this communication. Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.

Global Growth Stock Fund 

Investor Class (RPGEX)

T. Rowe Price Investment Services, Inc.

100 East Pratt Street

Baltimore, MD 21202

Annual Shareholder Report

October 31, 2024

Global Growth Stock Fund

Advisor Class (PAGLX)

This annual shareholder report contains important information about Global Growth Stock Fund (the "fund") for the period of November 1, 2023 to October 31, 2024. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global Growth Stock Fund - Advisor Class	$127	1.10%

What drove fund performance during the past 12 months?

• Global equity markets delivered strong returns over the reporting period. Exuberance for artificial intelligence (AI)-related segments of the market and hopes for central bank interest rate cuts helped fuel a prolonged market rally. Nevertheless, there were still periods of volatility, driven by concerns over the possibility of a global recession, geopolitical tensions, the potential for fewer interest rate cuts by central banks amid stubbornly high inflation, and economic challenges in China. 

• Versus the MSCI All Country World Index Net, the leading contributor to relative performance was stock selection in the information technology sector. Within the sector, our exposure to companies that directly benefited from accelerating AI demand, such as NVIDIA and Taiwan Semiconductor Manufacturing, helped relative returns, as did Vietnam’s information technology services company FPT. Holdings in the utilities sector also boosted relative results, where Constellation Energy benefited from the AI infrastructure buildout.

• Conversely, stock selection in industrials and business services detracted the most from relative performance, mainly due to our positions in multi-industrial conglomerate Roper Technologies and payroll and human resources software provider Paylocity Holding. Holdings in financials also hurt relative performance, most notably due to our position in One 97 Communications, which sold off in early 2024 on regulatory pressures.

• The fund applies an active, diversified, growth-oriented approach to identify companies with the potential for sustainable growth or relative improvement. Notable changes in positioning during the period included increasing our allocations to financials and information technology and reducing our allocations to health care and materials.

How has the fund performed?

Cumulative Returns of a Hypothetical $10,000 Investment as of October 31, 2024

	Advisor Class	Regulatory Benchmark	Strategy Benchmark
2014	10,000	10,000	10,000
2015	9,947	9,815	9,999
2015	10,632	10,497	10,708
2015	10,611	10,325	10,721
2015	10,200	9,997	10,409
2016	9,356	9,148	9,567
2016	10,154	9,903	10,236
2016	10,494	10,280	10,733
2016	10,435	10,201	10,484
2017	10,783	10,788	10,947
2017	11,787	11,401	11,790
2017	12,774	12,033	12,519
2017	13,442	12,568	13,223
2018	14,958	13,753	14,589
2018	14,324	13,016	13,883
2018	14,811	13,353	14,439
2018	13,439	12,503	13,370
2019	14,282	12,724	13,658
2019	15,607	13,675	14,992
2019	15,646	13,746	15,272
2019	15,757	14,078	15,646
2020	17,121	14,764	16,900
2020	16,044	12,997	15,829
2020	19,631	14,736	18,927
2020	20,425	14,766	19,257
2021	24,446	17,277	22,291
2021	25,999	18,943	23,682
2021	27,254	19,625	24,970
2021	27,827	20,270	25,938
2022	24,199	19,563	23,895
2022	20,554	17,912	20,958
2022	20,104	17,568	20,754
2022	18,681	16,225	18,351
2023	20,288	17,999	20,442
2023	20,182	18,281	21,475
2023	22,068	19,836	23,933
2023	19,951	17,929	21,483
2024	22,480	20,644	25,180
2024	23,793	21,474	26,246
2024	25,362	23,212	28,659
2024	26,225	23,808	29,480

202411-4029887, 202412-3916066

F274-052 12/24

Average Annual Total Returns

	1 Year	5 Years	10 Years
Global Growth Stock Fund (Advisor Class)	31.45%	10.73%	10.12%
MSCI All Country World Index Net (Regulatory Benchmark)	32.79	11.08	9.06
MSCI All Country World Index Growth Net (Strategy Benchmark)	37.22	13.51	11.42

The preceding line graph 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 fund’s performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.The fund’s past performance is not a good predictor of the fund’s future performance.Updated performance information can be found at www.troweprice.com.

What are some fund statistics?

Fund Statistics

• Total Net Assets (000s)$1,113,048
• Number of Portfolio Holdings193

• Investment Advisory Fees Paid (000s)$6,722
• Portfolio Turnover Rate61.5%

What did the fund invest in?

Sector Allocation (as a % of Net Assets)

Information Technology	26.6%
Financials	20.5
Industrials & Business Services	12.6
Health Care	9.8
Communication Services	8.2
Consumer Discretionary	7.5
Consumer Staples	5.8
Materials	4.0
Energy	3.1
Other	1.9

Top Ten Holdings (as a % of Net Assets)

NVIDIA	4.2%
Microsoft	4.0
Apple	4.0
Amazon.com	2.8
Meta Platforms	2.2
Alphabet	1.9
Eli Lilly	1.8
Taiwan Semiconductor Manufacturing	1.7
Roper Technologies	1.5
Sumber Alfaria Trijaya	1.3

If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.

MSCI does not accept any liability for any errors or omissions in the indexes or data, and hereby expressly disclaim all warranties of originality, accuracy, completeness, timeliness, merchantability and fitness for a particular purpose. No party may rely on any indexes or data contained in this communication. Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.

Global Growth Stock Fund 

Advisor Class (PAGLX)

T. Rowe Price Investment Services, Inc.

100 East Pratt Street

Baltimore, MD 21202

Annual Shareholder Report

October 31, 2024

Global Growth Stock Fund

I Class (RGGIX)

This annual shareholder report contains important information about Global Growth Stock Fund (the "fund") for the period of November 1, 2023 to October 31, 2024. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global Growth Stock Fund - I Class	$80	0.69%

What drove fund performance during the past 12 months?

• Global equity markets delivered strong returns over the reporting period. Exuberance for artificial intelligence (AI)-related segments of the market and hopes for central bank interest rate cuts helped fuel a prolonged market rally. Nevertheless, there were still periods of volatility, driven by concerns over the possibility of a global recession, geopolitical tensions, the potential for fewer interest rate cuts by central banks amid stubbornly high inflation, and economic challenges in China. 

• Versus the MSCI All Country World Index Net, the leading contributor to relative performance was stock selection in the information technology sector. Within the sector, our exposure to companies that directly benefited from accelerating AI demand, such as NVIDIA and Taiwan Semiconductor Manufacturing, helped relative returns, as did Vietnam’s information technology services company FPT. Holdings in the utilities sector also boosted relative results, where Constellation Energy benefited from the AI infrastructure buildout.

• Conversely, stock selection in industrials and business services detracted the most from relative performance, mainly due to our positions in multi-industrial conglomerate Roper Technologies and payroll and human resources software provider Paylocity Holding. Holdings in financials also hurt relative performance, most notably due to our position in One 97 Communications, which sold off in early 2024 on regulatory pressures.

• The fund applies an active, diversified, growth-oriented approach to identify companies with the potential for sustainable growth or relative improvement. Notable changes in positioning during the period included increasing our allocations to financials and information technology and reducing our allocations to health care and materials.

How has the fund performed?

Cumulative Returns of a Hypothetical $500,000 Investment as of October 31, 2024

	I Class	Regulatory Benchmark	Strategy Benchmark
3/6/17	500,000	500,000	500,000
4/30/17	529,056	512,195	520,570
7/31/17	574,092	540,583	552,750
10/31/17	604,600	564,624	583,824
1/31/18	673,363	617,827	644,154
4/30/18	645,490	584,740	612,984
7/31/18	667,984	599,860	637,531
10/31/18	606,614	561,701	590,326
1/31/19	645,443	571,605	603,056
4/30/19	706,023	614,341	661,951
7/31/19	708,516	617,543	674,299
10/31/19	714,499	632,427	690,826
1/31/20	776,391	663,272	746,180
4/30/20	728,147	583,885	698,889
7/31/20	891,874	661,999	835,698
10/31/20	928,869	663,339	850,246
1/31/21	1,112,907	776,153	984,208
4/30/21	1,184,966	850,991	1,045,651
7/31/21	1,243,336	881,656	1,102,521
10/31/21	1,270,971	910,614	1,145,233
1/31/22	1,106,472	878,843	1,055,068
4/30/22	940,473	804,676	925,371
7/31/22	921,026	789,223	916,379
10/31/22	857,051	728,880	810,242
1/31/23	931,623	808,589	902,605
4/30/23	927,385	821,267	948,176
7/31/23	1,015,263	891,114	1,056,738
10/31/23	918,625	805,427	948,548
1/31/24	1,036,342	927,428	1,111,793
4/30/24	1,097,904	964,681	1,158,857
7/31/24	1,171,665	1,042,769	1,265,413
10/31/24	1,212,801	1,069,532	1,301,633

202411-4029887, 202412-3916066

F1072-052 12/24

Average Annual Total Returns

	1 Year	5 Years	Since Inception 3/6/17
Global Growth Stock Fund (I Class)	32.02%	11.16%	12.27%
MSCI All Country World Index Net (Regulatory Benchmark)	32.79	11.08	10.44
MSCI All Country World Index Growth Net (Strategy Benchmark)	37.22	13.51	13.31

The preceding line graph shows the value of a hypothetical $500,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The fund’s performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). Due to new SEC Rules on shareholder reporting the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Market index returns do not include expenses, which are deducted from fund returns. The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.The fund’s past performance is not a good predictor of the fund’s future performance.Updated performance information can be found at www.troweprice.com.

What are some fund statistics?

Fund Statistics

• Total Net Assets (000s)$1,113,048
• Number of Portfolio Holdings193

• Investment Advisory Fees Paid (000s)$6,722
• Portfolio Turnover Rate61.5%

What did the fund invest in?

Sector Allocation (as a % of Net Assets)

Information Technology	26.6%
Financials	20.5
Industrials & Business Services	12.6
Health Care	9.8
Communication Services	8.2
Consumer Discretionary	7.5
Consumer Staples	5.8
Materials	4.0
Energy	3.1
Other	1.9

Top Ten Holdings (as a % of Net Assets)

NVIDIA	4.2%
Microsoft	4.0
Apple	4.0
Amazon.com	2.8
Meta Platforms	2.2
Alphabet	1.9
Eli Lilly	1.8
Taiwan Semiconductor Manufacturing	1.7
Roper Technologies	1.5
Sumber Alfaria Trijaya	1.3

If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.

MSCI does not accept any liability for any errors or omissions in the indexes or data, and hereby expressly disclaim all warranties of originality, accuracy, completeness, timeliness, merchantability and fitness for a particular purpose. No party may rely on any indexes or data contained in this communication. Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.

Global Growth Stock Fund 

I Class (RGGIX)

T. Rowe Price Investment Services, Inc.

100 East Pratt Street

Baltimore, MD 21202

Item 1. (b) Notice pursuant to Rule 30e-3.

Not applicable.

Item 2. Code of Ethics.

The registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of this code of ethics is filed as an exhibit to this Form N-CSR. No substantive amendments were approved or waivers were granted to this code of ethics during the period covered by this report.

Item 3. Audit Committee Financial Expert.

The registrant’s Board of Directors has determined that Mr. Paul F. McBride qualifies as an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. McBride is considered independent for purposes of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

(a) – (d) Aggregate fees billed for the last two fiscal years for professional services rendered to, or on behalf of, the registrant by the registrant’s principal accountant were as follows:

	2024		2023
Audit Fees	$	26,450	$	25,925
Audit-Related Fees		-		-
Tax Fees		-		-
All Other Fees		-		-

Audit fees include amounts related to the audit of the registrant’s annual financial statements and services normally provided by the accountant in connection with statutory and regulatory filings. Audit-related fees include amounts reasonably related to the performance of the audit of the registrant’s financial statements and specifically include the issuance of a report on internal controls and, if applicable, agreed-upon procedures related to fund acquisitions. Tax fees include amounts related to services for tax compliance, tax planning, and tax advice. The nature of these services specifically includes the review of distribution calculations and the preparation of Federal, state, and excise tax returns. All other fees include the registrant’s pro-rata share of amounts for agreed-upon procedures in conjunction with service contract approvals by the registrant’s Board of Directors/Trustees.

(e)(1) The registrant’s audit committee has adopted a policy whereby audit and non-audit services performed by the registrant’s principal accountant for the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant require pre-approval in advance at regularly scheduled audit committee meetings. If such a service is required between regularly scheduled audit committee meetings, pre-approval may be authorized by one audit committee member with ratification at the next scheduled audit committee meeting. Waiver of pre-approval for audit or non-audit services requiring fees of a de minimis amount is not permitted.

 (2) No services included in (b) – (d) above were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f)  Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

(g)  The aggregate fees billed for the most recent fiscal year and the preceding fiscal year by the registrant’s principal accountant for non-audit services rendered to the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant were $846,000 and $1,584,000, respectively.

(h)  All non-audit services rendered in (g) above were pre-approved by the registrant’s audit committee. Accordingly, these services were considered by the registrant’s audit committee in maintaining the principal accountant’s independence.

(i)  Not applicable.

(j)  Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a)  Not applicable. The complete schedule of investments is included in Item 7 of this Form N-CSR.

(b)  Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

(a – b) Report pursuant to Regulation S-X.

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(0.03‌)

0.03‌

Net

realized

and

unrealized

gain/loss

10.19‌

2.02‌

(14.93‌)

13.37‌

8.50‌

Total

from

investment

activities

10.23‌

2.10‌

(14.95‌)

13.34‌

8.53‌

Distributions

Net

investment

income

(0.07‌)

—‌

—‌

(0.03‌)

(0.07‌)

Net

realized

gain

—‌

(0.02‌)

(3.83‌)

(1.32‌)

—‌

Total

distributions

(0.07‌)

(0.02‌)

(3.83‌)

(1.35‌)

(0.07‌)

NET

ASSET

VALUE

End

of

period

$

42.51‌

$

32.35‌

$

30.27‌

$

49.05‌

$

37.06‌

Ratios/Supplemental

Data

Total

return

(2)(3)

31.68‌%

6.95‌%

(32.72‌)%

36.63‌%

29.88‌%

Ratios

to

average

net

assets:

(2)

Gross

expenses

before

waivers/

payments

by

Price

Associates

0.92‌%

0.93‌%

0.91‌%

0.82‌%

0.85‌%

Net

expenses

after

waivers/

payments

by

Price

Associates

0.92‌%

0.93‌%

0.91‌%

0.82‌%

0.85‌%

Net

investment

income

(loss)

0.11‌%

0.23‌%

(0.04‌)%

(0.06‌)%

0.09‌%

Portfolio

turnover

rate

61.5‌%

64.9‌%

58.4‌%

56.7‌%

85.4‌%

Net

assets,

end

of

period

(in

thousands)

$377,291

$333,702

$309,152

$771,508

$482,762

0‌%

0‌%

0‌%

0‌%

0‌%

(1)

Per

share

amounts

calculated

using

average

shares

outstanding

method.

(2)

Includes

the

impact

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.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Financial

Highlights

3

For

a

share

outstanding

throughout

each

period

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Advisor

Class

..

Year

..

..

Ended

.

10/31/24

10/31/23

10/31/22

10/31/21

10/31/20

NET

ASSET

VALUE

Beginning

of

period

$

31.94‌

$

29.93‌

$

48.56‌

$

36.78‌

$

28.43‌

Investment

activities

Net

investment

income

(loss)

(1)(2)

(0.03‌)

0.02‌

(0.06‌)

(0.16‌)

(0.07‌)

Net

realized

and

unrealized

gain/loss

10.07‌

2.01‌

(14.82‌)

13.26‌

8.48‌

Total

from

investment

activities

10.04‌

2.03‌

(14.88‌)

13.10‌

8.41‌

Distributions

Net

investment

income

(0.03‌)

—‌

—‌

—‌

(0.06‌)

Net

realized

gain

—‌

(0.02‌)

(3.75‌)

(1.32‌)

—‌

Total

distributions

(0.03‌)

(0.02‌)

(3.75‌)

(1.32‌)

(0.06‌)

NET

ASSET

VALUE

End

of

period

$

41.95‌

$

31.94‌

$

29.93‌

$

48.56‌

$

36.78‌

Ratios/Supplemental

Data

Total

return

(2)(3)

31.45‌%

6.79‌%

(32.87‌)%

36.24‌%

29.63‌%

Ratios

to

average

net

assets:

(2)

Gross

expenses

before

waivers/

payments

by

Price

Associates

1.12‌%

1.10‌%

1.10‌%

1.10‌%

1.12‌%

Net

expenses

after

waivers/

payments

by

Price

Associates

1.10‌%

1.10‌%

1.10‌%

1.10‌%

1.10‌%

Net

investment

income

(loss)

(0.07‌)%

0.05‌%

(0.18‌)%

(0.34‌)%

(0.20‌)%

Portfolio

turnover

rate

61.5‌%

64.9‌%

58.4‌%

56.7‌%

85.4‌%

Net

assets,

end

of

period

(in

thousands)

$11,756

$13,590

$13,586

$19,156

$13,668

0‌%

0‌%

0‌%

0‌%

0‌%

(1)

Per

share

amounts

calculated

using

average

shares

outstanding

method.

(2)

Includes

the

impact

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.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Financial

Highlights

4

For

a

share

outstanding

throughout

each

period

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

I

Class

..

Year

..

..

Ended

.

10/31/24

10/31/23

10/31/22

10/31/21

10/31/20

NET

ASSET

VALUE

Beginning

of

period

$

32.51‌

$

30.41‌

$

49.21‌

$

37.16‌

$

28.66‌

Investment

activities

Net

investment

income

(1)(2)

0.14‌

0.15‌

0.09‌

0.04‌

0.09‌

Net

realized

and

unrealized

gain/loss

10.24‌

2.03‌

(15.01‌)

13.40‌

8.49‌

Total

from

investment

activities

10.38‌

2.18‌

(14.92‌)

13.44‌

8.58‌

Distributions

Net

investment

income

(0.14‌)

(0.06‌)

—‌

(0.07‌)

(0.08‌)

Net

realized

gain

—‌

(0.02‌)

(3.88‌)

(1.32‌)

—‌

Total

distributions

(0.14‌)

(0.08‌)

(3.88‌)

(1.39‌)

(0.08‌)

NET

ASSET

VALUE

End

of

period

$

42.75‌

$

32.51‌

$

30.41‌

$

49.21‌

$

37.16‌

Ratios/Supplemental

Data

Total

return

(2)(3)

32.02‌%

7.18‌%

(32.57‌)%

36.83‌%

30.00‌%

Ratios

to

average

net

assets:

(2)

Gross

expenses

before

waivers/

payments

by

Price

Associates

0.70‌%

0.70‌%

0.69‌%

0.67‌%

0.69‌%

Net

expenses

after

waivers/

payments

by

Price

Associates

0.69‌%

0.69‌%

0.69‌%

0.67‌%

0.69‌%

Net

investment

income

0.35‌%

0.47‌%

0.25‌%

0.09‌%

0.27‌%

Portfolio

turnover

rate

61.5‌%

64.9‌%

58.4‌%

56.7‌%

85.4‌%

Net

assets,

end

of

period

(in

thousands)

$724,001

$578,915

$676,552

$889,213

$659,189

0‌%

0‌%

0‌%

0‌%

0‌%

(1)

Per

share

amounts

calculated

using

average

shares

outstanding

method.

(2)

Includes

the

impact

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.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

October

31,

2024

5

Portfolio

of

Investments

‡

Shares

$

Value

(

Cost

and

value

in

$000s)

‡

ARGENTINA 1.3%

Common

Stocks 1.3% 

Grupo

Financiero

Galicia,

ADR

(USD) 

107,106‌

5,647‌

MercadoLibre

(USD) (1)

4,476‌

9,118‌

Total

Argentina

(Cost

$6,858)

14,765‌

AUSTRALIA 0.3%

Common

Stocks 0.3% 

BHP

Group 

98,960‌

2,749‌

Total

Australia

(Cost

$2,736)

2,749‌

BRAZIL 1.1%

Common

Stocks 1.1% 

B3 

1,538,300‌

2,829‌

NU

Holdings,

Class

A

(USD) (1)

648,310‌

9,783‌

Total

Brazil

(Cost

$7,254)

12,612‌

CANADA 1.6%

Common

Stocks 1.6% 

Brookfield 

41,500‌

2,200‌

National

Bank

of

Canada 

15,923‌

1,519‌

Shopify,

Class

A

(USD) (1)

112,260‌

8,780‌

West

Fraser

Timber 

57,895‌

5,229‌

Total

Canada

(Cost

$13,014)

17,728‌

CAYMAN

ISLANDS 0.6%

Convertible

Preferred

Stocks 0.6% 

ByteDance,

Series

E,

Acquisition

Date:

7/8/19,

Cost $1,202

(USD) (1)(2)(3)

24,387‌

6,693‌

Total

Cayman

Islands

(Cost

$1,202)

6,693‌

CHINA 2.7%

Common

Stocks 2.7% 

Alibaba

Group

Holding

(HKD) 

435,968‌

5,333‌

China

Resources

Mixc

Lifestyle

Services

(HKD) 

1,473,200‌

6,077‌

Kanzhun,

ADR

(USD) 

210,710‌

3,066‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

6

Shares

$

Value

(Cost

and

value

in

$000s)

PDD

Holdings,

ADR

(USD) (1)(4)

35,624‌

4,296‌

Tencent

Holdings

(HKD) 

207,300‌

10,809‌

Total

China

(Cost

$26,353)

29,581‌

DENMARK 0.6%

Common

Stocks 0.6% 

Novo

Nordisk,

ADR

(USD) 

59,864‌

6,702‌

Total

Denmark

(Cost

$5,736)

6,702‌

FRANCE 1.8%

Common

Stocks 1.8% 

Airbus 

54,277‌

8,279‌

Eurofins

Scientific 

69,071‌

3,407‌

Sartorius

Stedim

Biotech 

22,613‌

4,536‌

Schneider

Electric 

16,409‌

4,251‌

Total

France

(Cost

$17,679)

20,473‌

GERMANY 3.2%

Common

Stocks 3.1% 

Celonis,

Acquisition

Date:

6/17/21,

Cost $664

(USD) (1)(2)

(3)

1,795‌

362‌

Deutsche

Telekom 

202,455‌

6,121‌

Hannover

Rueck 

17,160‌

4,506‌

Infineon

Technologies 

142,518‌

4,507‌

SAP 

32,436‌

7,573‌

Siemens 

44,804‌

8,717‌

Zalando (1)

64,864‌

1,964‌

33,750‌

Convertible

Preferred

Stocks 0.1% 

Celonis,

Series

D,

Acquisition

Date:

6/17/21

-

10/4/22,

Cost $2,667

(USD) (1)(2)(3)

7,214‌

1,457‌

1,457‌

Total

Germany

(Cost

$29,062)

35,207‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

7

Shares

$

Value

(Cost

and

value

in

$000s)

HONG

KONG 0.3%

Common

Stocks 0.3% 

AIA

Group 

420,600‌

3,320‌

Total

Hong

Kong

(Cost

$2,960)

3,320‌

INDIA 3.3%

Common

Stocks 3.3% 

Astral 

117,539‌

2,470‌

Axis

Bank 

428,457‌

5,886‌

Container

Corp.

of

India 

222,180‌

2,234‌

Godrej

Consumer

Products 

217,884‌

3,320‌

HDFC

Bank 

199,972‌

4,110‌

HDFC

Bank,

ADR

(USD) 

6,920‌

436‌

Kotak

Mahindra

Bank 

296,648‌

6,090‌

Larsen

&

Toubro 

102,708‌

4,412‌

Reliance

Industries 

185,668‌

2,936‌

Think

&

Learn,

Acquisition

Date:

12/23/20

-

1/15/21,

Cost $1,309 (1)(2)(3)

821‌

—‌

United

Spirits 

142,370‌

2,450‌

Zomato (1)

863,304‌

2,477‌

36,821‌

Convertible

Preferred

Stocks 0.0% 

Think

&

Learn,

Series

F,

Acquisition

Date:

12/23/20

-

4/29/21,

Cost $6,344 (1)(2)(3)

1,977‌

—‌

—‌

Total

India

(Cost

$32,529)

36,821‌

INDONESIA 3.9%

Common

Stocks 3.9% 

Bank

Central

Asia 

11,499,400‌

7,498‌

Bank

Mandiri

Persero 

19,111,800‌

8,113‌

Bank

Rakyat

Indonesia

Persero 

18,223,000‌

5,555‌

Cisarua

Mountain

Dairy 

12,694,100‌

4,608‌

Mayora

Indah 

18,423,900‌

3,050‌

Sumber

Alfaria

Trijaya 

68,430,800‌

14,451‌

Total

Indonesia

(Cost

$27,871)

43,275‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

8

Shares

$

Value

(Cost

and

value

in

$000s)

ITALY 0.2%

Common

Stocks 0.2% 

PRADA

(HKD) 

347,200‌

2,666‌

Total

Italy

(Cost

$2,168)

2,666‌

JAPAN 3.1%

Common

Stocks 3.1% 

Calbee 

202,900‌

4,537‌

Chugai

Pharmaceutical 

87,300‌

4,154‌

Keyence 

13,900‌

6,275‌

Mitsui 

138,700‌

2,828‌

Mitsui

Fudosan 

219,000‌

1,868‌

Nippon

Sanso

Holdings 

52,000‌

1,805‌

Omron 

78,500‌

3,099‌

Recruit

Holdings 

131,900‌

8,054‌

Renesas

Electronics 

150,100‌

2,011‌

Tokyo

Seimitsu 

4,700‌

253‌

Total

Japan

(Cost

$28,070)

34,884‌

NETHERLANDS 1.2%

Common

Stocks 1.2% 

Adyen (1)

2,443‌

3,732‌

Argenx,

ADR

(USD) (1)

4,749‌

2,784‌

ASML

Holding

(USD) 

5,877‌

3,953‌

BE

Semiconductor

Industries 

20,895‌

2,224‌

Universal

Music

Group 

16,897‌

425‌

Total

Netherlands

(Cost

$6,664)

13,118‌

NIGERIA 0.0%

Common

Stocks 0.0% 

Nestle

Nigeria (1)

461,084‌

243‌

Total

Nigeria

(Cost

$980)

243‌

PERU 0.6%

Common

Stocks 0.6% 

InRetail

Peru

(USD) 

200,033‌

6,281‌

Total

Peru

(Cost

$4,620)

6,281‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

9

Shares

$

Value

(Cost

and

value

in

$000s)

PHILIPPINES 2.6%

Common

Stocks 2.6% 

Ayala 

732,060‌

8,660‌

BDO

Unibank 

3,686,517‌

9,648‌

SM

Investments 

675,236‌

10,888‌

Total

Philippines

(Cost

$24,946)

29,196‌

PORTUGAL 0.4%

Common

Stocks 0.4% 

Galp

Energia 

275,439‌

4,708‌

Total

Portugal

(Cost

$3,773)

4,708‌

SAUDI

ARABIA 0.4%

Common

Stocks 0.4% 

Al

Rajhi

Bank 

195,991‌

4,579‌

Total

Saudi

Arabia

(Cost

$4,310)

4,579‌

SINGAPORE 0.5%

Common

Stocks 0.5% 

Sea,

ADR

(USD) (1)

54,860‌

5,160‌

Total

Singapore

(Cost

$967)

5,160‌

SOUTH

AFRICA 0.1%

Common

Stocks 0.1% 

Naspers,

Class

N 

4,085‌

966‌

Total

South

Africa

(Cost

$571)

966‌

SOUTH

KOREA 0.4%

Common

Stocks 0.4% 

Samsung

Electronics 

31,815‌

1,351‌

SK

Hynix 

21,664‌

2,836‌

Total

South

Korea

(Cost

$3,985)

4,187‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

10

Shares

$

Value

(Cost

and

value

in

$000s)

SPAIN 0.1%

Common

Stocks 0.1% 

Amadeus

IT

Group 

21,630‌

1,568‌

Total

Spain

(Cost

$1,157)

1,568‌

SWEDEN 0.2%

Common

Stocks 0.2% 

Hexagon,

Class

B 

172,548‌

1,613‌

Total

Sweden

(Cost

$870)

1,613‌

SWITZERLAND 0.6%

Common

Stocks 0.6% 

Sonova

Holding 

18,574‌

6,797‌

Total

Switzerland

(Cost

$6,617)

6,797‌

TAIWAN 1.7%

Common

Stocks 1.7% 

Taiwan

Semiconductor

Manufacturing 

345,000‌

10,819‌

Taiwan

Semiconductor

Manufacturing,

ADR

(USD) 

43,005‌

8,194‌

Total

Taiwan

(Cost

$13,353)

19,013‌

UNITED

KINGDOM 2.8%

Common

Stocks 2.6% 

AstraZeneca,

ADR

(USD) 

103,542‌

7,367‌

Endava,

ADR

(USD) (1)(4)

59,655‌

1,411‌

Experian 

92,425‌

4,511‌

London

Stock

Exchange

Group 

33,370‌

4,523‌

Prudential 

434,461‌

3,617‌

Snyk,

Acquisition

Date:

9/3/21,

Cost $1,444

(USD) (1)(2)(3)

100,647‌

976‌

Unilever,

ADR

(USD) 

102,672‌

6,253‌

28,658‌

Convertible

Preferred

Stocks 0.2% 

Snyk,

Series

F,

Acquisition

Date:

9/3/21

-

12/14/22,

Cost $2,406

(USD) (1)(2)(3)

168,674‌

1,636‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

11

Shares

$

Value

(Cost

and

value

in

$000s)

Yulife

Holdings,

Series

C,

Acquisition

Date:

10/11/22,

Cost $1,523 (1)(2)(3)

77,036‌

1,206‌

2,842‌

Total

United

Kingdom

(Cost

$28,073)

31,500‌

UNITED

STATES 61.1%

Common

Stocks 57.5% 

Advanced

Micro

Devices (1)

56,616‌

8,157‌

Airbnb,

Class

A (1)

700‌

94‌

Allstate 

25,500‌

4,756‌

Alphabet,

Class

C 

124,872‌

21,564‌

Amazon.com (1)

168,417‌

31,393‌

Amphenol,

Class

A 

102,820‌

6,891‌

Apollo

Global

Management 

43,256‌

6,197‌

Apple 

194,397‌

43,916‌

Ares

Management,

Class

A 

43,879‌

7,358‌

Atlassian,

Class

A (1)

8,568‌

1,615‌

Bank

of

America 

276,606‌

11,568‌

Booz

Allen

Hamilton

Holding 

26,916‌

4,890‌

Canva,

Acquisition

Date:

8/16/21

-

12/22/21,

Cost $3,134 (1)

(2)(3)

1,839‌

2,434‌

Charles

Schwab 

165,094‌

11,694‌

Chubb 

24,703‌

6,977‌

Cigna

Group 

20,721‌

6,523‌

Citigroup 

121,517‌

7,798‌

Colgate-Palmolive 

38,934‌

3,649‌

ConocoPhillips 

61,570‌

6,744‌

Constellation

Energy 

26,047‌

6,849‌

Coupang (1)

150,198‌

3,874‌

CSX 

246,679‌

8,298‌

Danaher 

28,065‌

6,894‌

Elevance

Health 

6,610‌

2,682‌

Eli

Lilly 

24,179‌

20,062‌

EOG

Resources 

38,738‌

4,724‌

Epic

Games,

Acquisition

Date:

6/18/20,

Cost $3,100 (1)(2)

(3)

5,386‌

3,431‌

EQT 

190,909‌

6,976‌

FedEx 

13,130‌

3,596‌

Fifth

Third

Bancorp 

154,666‌

6,756‌

Fiserv (1)

61,948‌

12,260‌

Freeport-McMoRan 

148,779‌

6,698‌

General

Electric 

43,758‌

7,517‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

12

Shares

$

Value

(Cost

and

value

in

$000s)

Global

Payments 

8,200‌

850‌

Home

Depot 

13,900‌

5,473‌

Hubbell 

12,682‌

5,416‌

HubSpot (1)

10,095‌

5,601‌

Huntington

Bancshares 

390,314‌

6,085‌

IDEX 

6,574‌

1,411‌

Intuit 

3,211‌

1,960‌

Intuitive

Surgical (1)

19,485‌

9,817‌

Kenvue 

160,784‌

3,687‌

KKR 

38,953‌

5,385‌

Las

Vegas

Sands 

11,665‌

605‌

Linde 

17,555‌

8,008‌

Magic

Leap,

Class

A,

Acquisition

Date:

10/12/17,

Cost $1,153 (1)(2)(3)

2,372‌

—‌

Marriott

International,

Class

A 

13,900‌

3,614‌

Marsh

&

McLennan 

24,944‌

5,444‌

Martin

Marietta

Materials 

5,100‌

3,021‌

Mastercard,

Class

A 

18,163‌

9,074‌

McKesson 

6,154‌

3,081‌

Meta

Platforms,

Class

A 

43,365‌

24,613‌

MetLife 

56,964‌

4,467‌

Microsoft 

108,996‌

44,291‌

Netflix (1)

13,652‌

10,321‌

NextEra

Energy 

77,000‌

6,102‌

NVIDIA 

350,510‌

46,534‌

Old

Dominion

Freight

Line 

31,328‌

6,307‌

Pinterest,

Class

A (1)

76,800‌

2,441‌

Procter

&

Gamble 

35,939‌

5,936‌

Reliance 

7,700‌

2,205‌

Roper

Technologies 

30,742‌

16,531‌

Salesforce 

16,894‌

4,922‌

Samsara,

Class

A (1)

84,400‌

4,033‌

Schlumberger 

99,681‌

3,994‌

ServiceNow (1)

7,106‌

6,630‌

Steel

Dynamics 

32,312‌

4,217‌

Stripe,

Class

B,

Acquisition

Date:

12/17/19

-

5/18/21,

Cost $859 (1)(2)(3)

32,874‌

855‌

Stryker 

26,906‌

9,586‌

Synopsys (1)

14,142‌

7,263‌

Targa

Resources 

7,800‌

1,302‌

TechnipFMC 

122,700‌

3,275‌

Teledyne

Technologies (1)

11,244‌

5,120‌

Tesla (1)

23,875‌

5,965‌

Thermo

Fisher

Scientific 

11,003‌

6,011‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

13

Shares

$

Value

(Cost

and

value

in

$000s)

Tradeweb

Markets,

Class

A 

34,606‌

4,395‌

Uber

Technologies (1)

103,462‌

7,454‌

UnitedHealth

Group 

9,933‌

5,607‌

Veeva

Systems,

Class

A (1)

3,176‌

663‌

Vertex

Pharmaceuticals (1)

1,249‌

595‌

Walmart 

86,023‌

7,050‌

Waste

Connections 

30,491‌

5,389‌

Workday,

Class

A (1)

7,833‌

1,832‌

639,273‌

Convertible

Preferred

Stocks 3.6% 

Canva,

Series

A,

Acquisition

Date:

11/4/21

-

12/17/21,

Cost $150 (1)(2)(3)

88‌

116‌

Canva,

Series

A-3,

Acquisition

Date:

11/4/21

-

12/17/21,

Cost $17 (1)(2)(3)

10‌

13‌

Databricks,

Series

H,

Acquisition

Date:

8/31/21,

Cost $1,107 (1)(2)(3)

15,066‌

1,316‌

Lilac

Solutions,

Series

B,

Acquisition

Date:

9/8/21,

Cost $4,528 (1)(2)(3)

344,903‌

3,204‌

PsiQuantum,

Series

D,

Acquisition

Date:

9/29/21,

Cost $3,614 (1)(2)(3)

137,791‌

5,078‌

Rappi,

Series

E,

Acquisition

Date:

9/8/20,

Cost $4,762 (1)

(2)(3)

79,700‌

1,811‌

Rappi,

Series

F,

Acquisition

Date:

7/8/21,

Cost $799 (1)(2)(3)

12,400‌

282‌

Redwood

Materials,

Series

C,

Acquisition

Date:

5/28/21,

Cost $4,001 (1)(2)(3)

84,400‌

4,348‌

Redwood

Materials,

Series

D,

Acquisition

Date:

6/2/23,

Cost $1,879 (1)(2)(3)

39,374‌

2,029‌

SB

Technology,

Series

D,

Acquisition

Date:

12/10/21,

Cost $5,863 (1)(2)(3)

621,837‌

10,459‌

Sila

Nano,

Series

F,

Acquisition

Date:

1/7/21,

Cost $846 (1)

(2)(3)

20,496‌

401‌

SpaceX,

Series

K,

Acquisition

Date:

5/21/19,

Cost $1,562 (1)

(2)(3)

7,659‌

8,578‌

Waymo,

Series

A-2,

Acquisition

Date:

5/8/20,

Cost $2,587 (1)(2)(3)

30,126‌

2,419‌

Waymo,

Series

B-2,

Acquisition

Date:

6/11/21,

Cost $209 (1)

(2)(3)

2,283‌

185‌

40,239‌

Total

United

States

(Cost

$415,211)

679,512‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

14

Shares

$

Value

(Cost

and

value

in

$000s)

VIETNAM 3.3%

Common

Stocks 3.3% 

Asia

Commercial

Bank 

8,469,865‌

8,976‌

Bank

for

Foreign

Trade

of

Vietnam (1)

1,572,300‌

5,815‌

FPT 

1,813,597‌

9,709‌

Military

Commercial

Joint

Stock

Bank 

7,684,459‌

8,097‌

Phu

Nhuan

Jewelry 

1,106,900‌

4,426‌

Total

Vietnam

(Cost

$27,301)

37,023‌

SHORT-TERM

INVESTMENTS 0.0%

Money

Market

Funds 0.0%

T.

Rowe

Price

Government

Reserve

Fund,

4.86% (5)(6)

218,600‌

219‌

Total

Short-Term

Investments

(Cost

$219)

219‌

SECURITIES

LENDING

COLLATERAL 0.1%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

JPMORGAN

CHASE

BANK 0.1%

Money

Market

Funds 0.1%

T.

Rowe

Price

Government

Reserve

Fund,

4.86% (5)(6)

658,400‌

658‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

JPMorgan

Chase

Bank

658‌

Total

Securities

Lending

Collateral

(Cost

$658)

658‌

Total

Investments

in

Securities

100.1%

of

Net

Assets

(Cost

$747,767)

$

1,113,817‌

‡

Country

classifications

are

generally

based

on

MSCI

categories

or

another

unaffiliated

third

party

data

provider;

Shares

are

denominated

in

the

currency

of

the

country

presented

unless

otherwise

noted.

(1)

Non-income

producing

(2)

See

Note

2.

Level

3

in

fair

value

hierarchy.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

15

.

.

.

.

.

.

.

.

.

.

(3)

Security

cannot

be

offered

for

public

resale

without

first

being

registered

under

the

Securities

Act

of

1933

and

related

rules

("restricted

security").

Acquisition

date

represents

the

day

on

which

an

enforceable

right

to

acquire

such

security

is

obtained

and

is

presented

along

with

related

cost

in

the

security

description.

The

fund

may

have

registration

rights

for

certain

restricted

securities.

Any

costs

related

to

such

registration

are

generally

borne

by

the

issuer.

The

aggregate

value

of

restricted

securities

(excluding

144A

holdings)

at

period

end

amounts

to

$59,289

and

represents

5.3%

of

net

assets.

(4)

See

Note

3

.

All

or

a

portion

of

this

security

is

on

loan

at

October

31,

2024.

(5)

Seven-day

yield

(6)

Affiliated

Companies

ADR

American

Depositary

Receipts

HKD

Hong

Kong

Dollar

USD

U.S.

Dollar

T.

ROWE

PRICE

Global

Growth

Stock

Fund

16

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

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

October

31,

2024.

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.

Affiliate

Net

Realized

Gain

(Loss)

Change

in

Net

Unrealized

Gain/Loss

Investment

Income

T.

Rowe

Price

Government

Reserve

Fund,

4.86%

$

—‌

$

—‌

$

100‌++

Totals

$

—‌#

$

—‌

$

100‌+

Supplementary

Investment

Schedule

Affiliate

Value

10/31/23

Purchase

Cost

Sales

Cost

Value

10/31/24

T.

Rowe

Price

Government

Reserve

Fund,

4.86%

$

21,452‌

 ¤

 ¤

$

877‌

Total

$

877‌^

#

Capital

gain

distributions

from

underlying

Price

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

3

.

+

Investment

income

comprised

$100

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

$877.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

October

31,

2024

Statement

of

Assets

and

Liabilities

17

($000s,

except

shares

and

per

share

amounts)

Assets

Investments

in

securities,

at

value

(cost

$747,767)

$

1,113,817‌

Receivable

for

shares

sold

574‌

Receivable

for

investment

securities

sold

569‌

Dividends

and

interest

receivable

413‌

Foreign

currency

(cost

$308)

304‌

Other

assets

787‌

Total

assets

1,116,464‌

Liabilities

Payable

for

shares

redeemed

758‌

Obligation

to

return

securities

lending

collateral

658‌

Investment

management

fees

payable

613‌

Payable

for

investment

securities

purchased

346‌

Due

to

affiliates

115‌

Other

liabilities

926‌

Total

liabilities

3,416‌

Commitments

and

Contingent

Liabilities

(note

6

)

NET

ASSETS

$

1,113,048‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

October

31,

2024

Statement

of

Assets

and

Liabilities

18

($000s,

except

shares

and

per

share

amounts)

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Net

Assets

Consist

of:

Total

distributable

earnings

(loss)

$

346,145‌

Paid-in

capital

applicable

to

26,091,042

shares

of

$0.01

par

value

capital

stock

outstanding;

18,000,000,000

shares

of

the

Corporation

authorized

766,903‌

NET

ASSETS

$

1,113,048‌

NET

ASSET

VALUE

PER

SHARE

Investor

Class

(Net

assets:

$377,291;

Shares

outstanding:

8,874,872)

$

42.51‌

Advisor

Class

(Net

assets:

$11,756;

Shares

outstanding:

280,240)

$

41.95‌

I

Class

(Net

assets:

$724,001;

Shares

outstanding:

16,935,930)

$

42.75‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Statement

of

Operations

19

($000s)

Year

Ended

10/31/24

Investment

Income

(Loss)

Income

Dividend

(net

of

foreign

taxes

of

$687)

$

11,045‌

Securities

lending

29‌

Total

income

11,074‌

Expenses

Investment

management

6,793‌

Shareholder

servicing

Investor

Class

$

838‌

Advisor

Class

24‌

I

Class

81‌

943‌

Rule

12b-1

fees

Advisor

Class

34‌

Prospectus

and

shareholder

reports

Investor

Class

36‌

Advisor

Class

1‌

I

Class

12‌

49‌

Custody

and

accounting

271‌

Legal

and

audit

118‌

Registration

73‌

Directors

4‌

Miscellaneous

50‌

Waived

/

paid

by

Price

Associates

(

71‌

)

Total

expenses

8,264‌

Net

investment

income

2,810‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Statement

of

Operations

20

($000s)

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Year

Ended

10/31/24

Realized

and

Unrealized

Gain

/

Loss

–

Net

realized

gain

(loss)

Securities

(net

of

foreign

taxes

of

$871)

96,784‌

Foreign

currency

transactions

(

13‌

)

Net

realized

gain

96,771‌

Change

in

net

unrealized

gain

/

loss

Securities

(net

of

decrease

in

deferred

foreign

taxes

of

$(350))

186,027‌

Other

assets

and

liabilities

denominated

in

foreign

currencies

28‌

Change

in

net

unrealized

gain

/

loss

186,055‌

Net

realized

and

unrealized

gain

/

loss

282,826‌

INCREASE

IN

NET

ASSETS

FROM

OPERATIONS

$

285,636‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Statement

of

Changes

in

Net

Assets

21

($000s)

Year

.

.

.

.

.

.

.

.

.

.

.

.

.

.

Ended

.

.

.

.

.

.

.

.

.

.

.

.

.

.

10/31/24

10/31/23

Increase

(Decrease)

in

Net

Assets

Operations

Net

investment

income

$

2,810‌

$

3,684‌

Net

realized

gain

96,771‌

23,687‌

Change

in

net

unrealized

gain

/

loss

186,055‌

42,420‌

Increase

in

net

assets

from

operations

285,636‌

69,791‌

Distributions

to

shareholders

Net

earnings

Investor

Class

(

751‌

)

(

234‌

)

Advisor

Class

(

12‌

)

(

10‌

)

I

Class

(

2,517‌

)

(

1,526‌

)

Decrease

in

net

assets

from

distributions

(

3,280‌

)

(

1,770‌

)

Capital

share

transactions

*

Shares

sold

Investor

Class

59,253‌

86,774‌

Advisor

Class

825‌

1,661‌

I

Class

57,533‌

53,797‌

Distributions

reinvested

Investor

Class

636‌

211‌

Advisor

Class

12‌

10‌

I

Class

2,478‌

1,507‌

Shares

redeemed

Investor

Class

(

115,456‌

)

(

84,858‌

)

Advisor

Class

(

6,366‌

)

(

2,572‌

)

I

Class

(

94,430‌

)

(

197,634‌

)

Decrease

in

net

assets

from

capital

share

transactions

(

95,515‌

)

(

141,104‌

)

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Statement

of

Changes

in

Net

Assets

22

($000s)

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Year

.

.

.

.

.

.

.

.

.

.

.

.

.

.

Ended

.

.

.

.

.

.

.

.

.

.

.

.

.

.

10/31/24

10/31/23

Net

Assets

Increase

(decrease)

during

period

186,841‌

(

73,083‌

)

Beginning

of

period

926,207‌

999,290‌

End

of

period

$

1,113,048‌

$

926,207‌

*Share

information

(000s)

Shares

sold

Investor

Class

1,522‌

2,687‌

Advisor

Class

22‌

52‌

I

Class

1,467‌

1,641‌

Distributions

reinvested

Investor

Class

18‌

7‌

Advisor

Class

–‌

–‌

I

Class

69‌

50‌

Shares

redeemed

Investor

Class

(

2,981‌

)

(

2,593‌

)

Advisor

Class

(

167‌

)

(

81‌

)

I

Class

(

2,408‌

)

(

6,133‌

)

Decrease

in

shares

outstanding

(

2,458‌

)

(

4,370‌

)

T.

ROWE

PRICE

Global

Growth

Stock

Fund

NOTES

TO

FINANCIAL

STATEMENTS

23

T.

Rowe

Price

International

Funds,

Inc. (the

corporation) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act).

The

Global

Growth

Stock

Fund

(the

fund)

is a

diversified, open-end

management

investment

company

established

by

the

corporation. The

fund

seeks long-term

growth

of

capital

through

investments

primarily

in

the

common

stocks

of

large-cap

companies

throughout

the

world,

including

the

U.S.

The

fund

has three classes

of

shares:

the

Global

Growth

Stock

Fund

(Investor

Class),

the

Global

Growth

Stock

Fund–Advisor

Class

(Advisor

Class)

and

the

Global

Growth

Stock

Fund–I

Class

(I

Class).

Advisor

Class

shares

are

sold

only

through

various

brokers

and

other

financial

intermediaries.

I

Class

shares

require

a

$500,000

initial

investment

minimum,

although

the

minimum

generally

is

waived

or

reduced

for

financial

intermediaries,

eligible

retirement

plans,

and

certain

other

accounts.

The

Advisor

Class

operates

under

a

Board-approved

Rule

12b-1

plan

pursuant

to

which

the

class

compensates

financial

intermediaries

for

distribution,

shareholder

servicing,

and/or

certain

administrative

services;

the

Investor

and

I

Classes

do

not

pay

Rule

12b-1

fees. Each

class

has

exclusive

voting

rights

on

matters

related

solely

to

that

class;

separate

voting

rights

on

matters

that

relate

to

all

classes;

and,

in

all

other

respects,

the

same

rights

and

obligations

as

the

other

classes.

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. Income

tax-related

interest

and

penalties,

if

incurred,

are

recorded

as

income

tax

expense. Dividends

received

from other

investment

T.

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Growth

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Fund

24

companies 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. Earnings

on

investments

recognized

as

partnerships

for

federal

income

tax

purposes

reflect

the

tax

character

of

such

earnings. 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. Proceeds

from

litigation

payments,

if

any,

are

included

in

either

net

realized

gain

(loss)

or

change

in

net

unrealized

gain/loss

from

securities. Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date. Income

distributions,

if

any,

are

declared

and

paid

by

each

class annually. A

capital

gain

distribution,

if

any, may

also

be

declared

and

paid

by

the

fund

annually.

Currency

Translation

 Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollar

values

each

day

at

the

prevailing

exchange

rate,

using

the

mean

of

the

bid

and

asked

prices

of

such

currencies

against

U.S.

dollars

as

provided

by

an

outside

pricing

service.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

date

of

such

transaction.

The

effect

of

changes

in

foreign

currency

exchange

rates

on

realized

and

unrealized

security

gains

and

losses

is

not

bifurcated

from

the

portion

attributable

to

changes

in

market

prices.

Class

Accounting

 Shareholder

servicing,

prospectus,

and

shareholder

report

expenses

incurred

by

each

class

are

charged

directly

to

the

class

to

which

they

relate.

Expenses

common

to

all

classes,

investment

income,

and

realized

and

unrealized

gains

and

losses

are

allocated

to

the

classes

based

upon

the

relative

daily

net

assets

of

each

class.

The

Advisor

Class

pays

Rule

12b-1

fees,

in

an

amount

not

exceeding

0.25%

of

the

class’s

average

daily

net

assets.

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.

Eastern

time,

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.

T.

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Global

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25

New

Accounting

Guidance

 In

November

2023,

the

FASB

issued

Accounting

Standards

Update

(ASU),

ASU

2023-07,

Segment

Reporting

(Topic

280)

–

Improvements

to

Reportable

Segment

Disclosures,

which

improves

reportable

segment

disclosure

requirements,

primarily

through

enhanced

disclosures

about

segment

expenses.

In

addition,

the

ASU

clarifies

that

a

public

entity

with

a

single

reportable

segment

provide

all

disclosures

required

by

the

ASU

and

all

existing

segment

disclosures

in

Topic

280.

The

amendments

under

this

ASU

are

effective

for

fiscal

years

beginning

after

December

15,

2023.

Management

expects

that

adoption

of

the

guidance

will

not

have

a

material

impact

on

the

fund’s

financial

statements.

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 fund’s

Board

of

Directors

(the

Board)

has

designated

T.

Rowe

Price

Associates,

Inc.

as

the

fund’s

valuation

designee

(Valuation

Designee).

Subject

to

oversight

by

the

Board,

the

Valuation

Designee

performs

the

following

functions

in

performing

fair

value

determinations:

assesses

and

manages

valuation

risks;

establishes

and

applies

fair

value

methodologies;

tests

fair

value

methodologies;

and

evaluates

pricing

vendors

and

pricing

agents.

The

duties

and

responsibilities

of

the

Valuation

Designee

are

performed

by

its

Valuation

Committee. The

Valuation

Designee provides

periodic

reporting

to

the

Board

on

valuation

matters.

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

T.

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Global

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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 Valuation

Designee’s 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

and

the

last

quoted

sale

or

closing

price

for

international

securities.

The

last

quoted

prices

of

non-U.S.

equity

securities

may

be

adjusted

to

reflect

the

fair

value

of

such

securities

at

the

close

of

the

NYSE,

if

the Valuation

Designee

determines

that

developments

between

the

close

of

a

foreign

market

and

the

close

of

the

NYSE

will

affect

the

value

of

some

or

all

of

the

fund’s portfolio

securities.

Each

business

day,

the

Valuation

Designee uses

information

from

outside

pricing

services

to

evaluate

the

quoted

prices

of

portfolio

securities

and,

if

appropriate,

decide whether

it

is

necessary

to

adjust

quoted

prices

to

reflect

fair

value

by

reviewing

a

variety

of

factors,

including

T.

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Global

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Fund

27

developments

in

foreign

markets,

the

performance

of

U.S.

securities

markets,

and

the

performance

of

instruments

trading

in

U.S.

markets

that

represent

foreign

securities

and

baskets

of

foreign

securities. The Valuation

Designee

uses

outside

pricing

services

to

provide

it

with

quoted

prices

and

information

to

evaluate

or

adjust

those

prices.

The Valuation

Designee

cannot

predict

how

often

it

will

use

quoted

prices

and

how

often

it

will

determine

it

necessary

to

adjust

those

prices

to

reflect

fair

value.

Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

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 are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Designee.

The

Valuation

Designee

has

adopted

methodologies

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable,

including

the

use

of

other

pricing

sources.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Designee 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

Designee 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.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions. Fair

value

prices

determined

by

the

Valuation

Designee could

differ

from

those

of

other

market

participants,

and

it

is

possible

that

the

fair

value

determined

for

a

security

may

be

materially

different

from

the

value

that

could

be

realized

upon

the

sale

of

that

security.

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

October

31,

2024

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

T.

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Stock

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Following

is

a

reconciliation

of

the

fund’s

Level

3

holdings

for

the

year ended

October

31,

2024.

Gain

(loss)

reflects

both

realized

and

change

in

unrealized

gain/loss

on

Level

3

holdings

during

the

period,

if

any,

and

is

included

on

the

accompanying

Statement

of

Operations.

The

change

in

unrealized

gain/loss

on

Level

3

instruments

held

at

October

31,

2024,

totaled $3,326,000 for

the

year ended

October

31,

2024.

In

accordance

with

GAAP,

the

following

table

provides

quantitative

information

about

significant

unobservable

inputs

used

to

determine

the

fair

valuations

of

the

fund’s

Level

3

assets,

by

class

of

financial

instrument.

Because

the

Valuation

Designee

considers

a

wide

variety

of

factors

and

inputs,

both

observable

and

unobservable,

in

determining

fair

values,

the

unobservable

inputs

presented

do

not

reflect

all

inputs

significant

to

the

fair

value

determination.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

715,503‌

$

338,148‌

$

8,058‌

$

1,061,709‌

Convertible

Preferred

Stocks

—‌

—‌

51,231‌

51,231‌

Short-Term

Investments

219‌

—‌

—‌

219‌

Securities

Lending

Collateral

658‌

—‌

—‌

658‌

Total

$

716,380‌

$

338,148‌

$

59,289‌

$

1,113,817‌

($000s)

Beginning

Balance

10/31/23

Gain

(Loss)

During

Period

Total

Sales

Ending

Balance

10/31/24

Investment

in

Securities

Common

Stocks

$

10,547‌

$

(1,033‌)

$

(1,456‌)

$

8,058‌

Convertible

Preferred

Stocks

47,982‌

5,635‌

(2,386‌)

51,231‌

Total

$

58,529‌

$

4,602‌

$

(3,842‌)

$

59,289‌

T.

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PRICE

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Stock

Fund

29

Investments

in

Securities

Value

(000s)

Valuation

Technique(s)+

Significant

Unobservable

Input(s)

Value

or

Range

of

Input(s)

Weighted

Average

of

Input(s)*

Impact

to

Valuation

from

an

Increase

in

Input**

Common

Stocks

$

8,058

Recent

comparable

transaction

price(s)

—#

—#

—#

—#

Discount

for

uncertainty

100%

100%

Decrease

Market

comparable

Enterprise

value

to

sales

multiple

4.9x

–

11.9x

7.4x

Increase

Projected

enterprise

value

to

sales

multiple

14.0x

14.0x

Increase

Sales

growth

rate

(5%)

–

29%

10%

Increase

Enterprise

value

to

gross

profit

multiple

6.6x

–

14.7x

9.4x

Increase

Projected

enterprise

value

to

gross

profit

multiple

17.4x

17.4x

Increase

Gross

profit

growth

rate

(5%)

–

29%

10%

Increase

Premium

to

public

company

multiples

1%

–

84%

39%

Increase

Discount

for

illiquidity

100%

100%

Decrease

Discount

for

lack

of

marketability

10%

10%

Decrease

T.

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Stock

Fund

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Investments

in

Securities

Value

(000s)

Valuation

Technique(s)+

Significant

Unobservable

Input(s)

Value

or

Range

of

Input(s)

Weighted

Average

of

Input(s)*

Impact

to

Valuation

from

an

Increase

in

Input**

Convertible

Preferred

Stocks

$

51,231

Recent

comparable

transaction

price(s)

—#

—#

—#

—#

Conversion

ratio

—#

—#

—#

Market

comparable

Enterprise

value

to

gross

profit

multiple

5.0x

–

20.1x

11.3x

Increase

Projected

enterprise

value

to

gross

profit

multiple

17.4x

–

21.0x

20.5x

Increase

Gross

profit

growth

rate

13%

–

55%

26%

Increase

Enterprise

value

to

sales

multiple

1.9x

–

15.4x

5.9x

Increase

Projected

enterprise

value

to

sales

multiple

2.6x

–

15.5x

10.2x

Increase

Sales

growth

rate

17%

–

75%

38%

Increase

Enterprise

value

to

gross

merchandise

value

0.5x

–

0.6x

0.6x

Increase

Gross

merchandise

value

growth

rate

13%

13%

Increase

Enterprise

value

to

EBITDA

multiple

14.5x

–

23.1x

18.8x

Increase

T.

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PRICE

Global

Growth

Stock

Fund

31

+

Valuation

techniques

may

change

in

order

to

reflect the

Valuation

Designee’s

judgment

of

current

market

participant

assumptions. 

*

Unobservable

inputs

were

weighted

by

the

relative

fair

value

of

the

instruments.

**

Represents

the

directional

change

in

the

fair

value

of

the

Level

3

investment(s)

that

would

have

resulted

from

an

increase

in

the

corresponding

input

at

period

end.

A

decrease

in

the

unobservable

input

would

have

had

the

opposite

effect.

Significant

increases

and

decreases

in

these

inputs

in

isolation

could

result

in

significantly

higher

Investments

in

Securities

Value

(000s)

Valuation

Technique(s)+

Significant

Unobservable

Input(s)

Value

or

Range

of

Input(s)

Weighted

Average

of

Input(s)*

Impact

to

Valuation

from

an

Increase

in

Input**

Projected

enterprise

value

to

EBITDA

multiple

11.3x

–

25.0x

19.5x

Increase

EBITDA

growth

rate

68%

68%

Increase

Enterprise

value

to

EBIT

multiple

8.4x

–

11.0x

10.1x

Increase

EBIT

growth

rate

26%

26%

Increase

Premium

to

public

company

multiples

15%

–

49%

29%

Increase

Discount

to

public

company

multiples

25%

25%

Decrease

Discount

rate

for

cost

of

capital

25%

25%

Decrease

Discount

for

illiquidity

100%

100%

Decrease

Discount

for

uncertainty

10%

–

60%

35%

Decrease

Discount

for

lack

of

marketability

10%

10%

Decrease

T.

ROWE

PRICE

Global

Growth

Stock

Fund

32

or

lower

fair

value

measurements.

#

No

quantitative

unobservable

inputs

significant

to

the

valuation

technique

were

created

by

the

Valuation

Designee.

NOTE

3

-

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.

Emerging

and

Frontier

Markets

 The fund

invests,

either

directly

or

through

investments

in

other

T.

Rowe

Price

funds,

in

securities

of

companies

located

in,

issued

by

governments

of,

or

denominated

in

or

linked

to

the

currencies

of

emerging

and

frontier

market

countries.

Emerging

markets,

and

to

a

greater

extent

frontier

markets, tend

to

have

economic

structures

that

are

less

diverse

and

mature,

less

developed

legal

and

regulatory

regimes,

and

political

systems

that

are

less

stable,

than

those

of

developed

countries.

These

markets

may

be

subject

to

greater

political,

economic,

and

social

uncertainty

and

differing

accounting

standards

and

regulatory

environments

that

may

potentially

impact

the

fund’s

ability

to

buy

or

sell

certain

securities

or

repatriate

proceeds

to

U.S.

dollars.

Emerging

markets

securities

exchanges

are

more

likely

to

experience

delays

with

the

clearing

and

settling

of

trades,

as

well

as

the

custody

of

holdings

by

local

banks,

agents,

and

depositories.

Such

securities

are

often

subject

to

greater

price

volatility,

less

liquidity,

and

higher

rates

of

inflation

than

U.S.

securities.

Investing

in

frontier

markets

is

typically

significantly

riskier

than

investing

in

other

countries,

including

emerging

markets.

Restricted

Securities

 The

fund

invests

in

securities

that

are

subject

to

legal

or

contractual

restrictions

on

resale.

Prompt

sale

of

such

securities

at

an

acceptable

price

may

be

difficult

and

may

involve

substantial

delays

and

additional

costs.

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

T.

ROWE

PRICE

Global

Growth

Stock

Fund

33

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

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

October

31,

2024,

the

value

of

loaned

securities

was

$645,000;

the

value

of

cash

collateral

and

related

investments

was

$658,000.

Other 

Purchases

and

sales

of

portfolio

securities

other

than

in-kind

transactions,

if

any,

and short-term securities

aggregated $653,068,000 and

$747,834,000,

respectively,

for

the

year ended

October

31,

2024. 

NOTE

4

-

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.

Capital

accounts

within

the

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,

if

any,

have

no

impact

on

results

of

operations

or

net

assets.

The

permanent

book/tax

adjustments

relate

primarily

to

the

character

of

income

on

passive

foreign

investment

companies

and

the

character

of

foreign

capital

gains

taxes.

T.

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PRICE

Global

Growth

Stock

Fund

34

The

tax

character

of

distributions

paid

for

the

periods

presented

was

as

follows:

At

October

31,

2024,

the

tax-basis

cost

of

investments

(including

derivatives,

if

any)

and

gross

unrealized

appreciation

and

depreciation

were as

follows:

At

October

31,

2024,

the

tax-basis

components

of

accumulated

net

earnings

(loss)

were

as

follows:

Temporary

differences

between

book-basis

and

tax-basis

components

of

total

distributable

earnings

(loss)

arise

when

certain

items

of

income,

gain,

or

loss

are

recognized

in

different

periods

for

financial

statement

purposes

versus

for

tax

purposes;

these

differences

will

reverse

in

a

subsequent

reporting

period.

The

temporary

differences

relate

primarily

to

the

deferral

of

losses

from

wash

sales

and

the

realization

of

gains/losses

on

passive

foreign

investment

companies.

The

loss

carryforwards

and

deferrals

primarily

relate

to

capital

loss

carryforwards.

Capital

loss

carryforwards

are

available

indefinitely

to

offset

future

realized

capital

gains.

During

the

year

ended

October

31,

2024,

the

fund

utilized

$87,059,000

of

capital

loss

carryforwards.

($000s)

October

31,

2024

October

31,

2023

Ordinary

income

(including

short-term

capital

gains,

if

any)

$

3,280‌

$

1,770‌

($000s)

Cost

of

investments

$

755,549‌

Unrealized

appreciation

$

400,748‌

Unrealized

depreciation

(43,302‌)

Net

unrealized

appreciation

(depreciation)

$

357,446‌

($000s)

Undistributed

ordinary

income

$

1,779‌

Net

unrealized

appreciation

(depreciation)

357,446‌

Loss

carryforwards

and

deferrals

(13,080‌)

Total

distributable

earnings

(loss)

$

346,145‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

35

NOTE

5

-

FOREIGN TAXES

The

fund

is

subject

to

foreign

income

taxes

imposed

by

certain

countries

in

which

it

invests.

Additionally,

capital

gains

realized

upon

disposition

of

securities

issued

in

or

by

certain

foreign

countries

are

subject

to

capital

gains

tax

imposed

by

those

countries.

All

taxes

are

computed

in

accordance

with

the

applicable

foreign

tax

law,

and,

to

the

extent

permitted,

capital

losses

are

used

to

offset

capital

gains.

Taxes

attributable

to

income

are

accrued

by

the

fund

as

a

reduction

of

income.

Current

and

deferred

tax

expense

attributable

to

capital

gains

is

reflected

as

a

component

of

realized

or

change

in

unrealized

gain/

loss

on

securities

in

the

accompanying

financial

statements.

To

the

extent

that

the

fund

has

country

specific

capital

loss

carryforwards,

such

carryforwards

are

applied

against

net

unrealized

gains

when

determining

the

deferred

tax

liability.

Any

deferred

tax

liability

incurred

by

the

fund

is

included

in

either

Other

liabilities

or

Deferred

tax

liability

on

the

accompanying

Statement

of

Assets

and

Liabilities.

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

agreement

between

the

fund

and

Price

Associates

provides

for

an

annual

investment

management

fee,

which

is

computed

daily

and

paid

monthly. The

fee

consists

of

an

individual

fund

fee,

equal

to

0.35%

of

the

fund’s

average

daily

net

assets,

and

a

group

fee.

The

group

fee

rate

is

calculated

based

on

the

combined

net

assets

of

certain

mutual

funds

sponsored

by

Price

Associates

(the

group)

applied

to

a

graduated

fee

schedule,

with

rates

ranging

from

0.48%

for

the

first

$1

billion

of

assets

to

0.260%

for

assets

in

excess

of

$845

billion.

The

fund’s

group

fee

is

determined

by

applying

the

group

fee

rate

to

the

fund’s

average

daily

net

assets. At

October

31,

2024,

the

effective

annual

group

fee

rate

was

0.28%. Price

Associates

has

agreed

to

permanently

waive

a

portion

of

the

fund’s

annual

investment

management

fee

in

order

to

limit

the

fund’s

management

fees

to

0.65%

of

the

fund’s

average

daily

net

assets.

This

agreement

can

only

be

modified

or

terminated

with

approval

by

the

fund’s

shareholders.

The

fund

has

no

obligation

to

repay

fees

waived

under

this

arrangement. No

management

fees

were

waived

under

this

arrangement

for

the

year ended

October

31,

2024. 

T.

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PRICE

Global

Growth

Stock

Fund

36

The Advisor

Class is

subject

to

a

contractual

expense

limitation

through

the

expense

limitation

date

indicated

in

the

table

below.

Effective

November

1,

2023,

the Investor

Class is

subject

to

a

contractual

expense

limitation

through

the

expense

limitation

date

indicated

in

the

table

below.

This

agreement

will

continue

through

the

expense

limitation

dates

indicated

in

the

table

below,

and

may

be

renewed,

revised,

or

revoked

only

with

approval

of

the

fund’s

Board.

During

the

limitation

period,

Price

Associates

is required

to

waive

or

pay

any

expenses

(excluding

interest;

expenses

related

to

borrowings,

taxes,

and

brokerage;

non-recurring,

extraordinary

expenses;

and

acquired

fund

fees

and

expenses)

that

would

otherwise

cause

the class’s ratio

of

annualized

total

expenses

to

average

net

assets

(net

expense

ratio)

to

exceed

its

expense

limitation.

Each

class

is

required

to

repay

Price

Associates

for

expenses

previously

waived/paid

to

the

extent

the

class’s net

assets

grow

or

expenses

decline

sufficiently

to

allow

repayment

without

causing

the class’s net

expense

ratio

(after

the

repayment

is

taken

into

account)

to

exceed

the

lesser

of:

(1)

the

expense

limitation

in

place

at

the

time

such

amounts

were

waived;

or

(2)

the class’s

current

expense

limitation.

However,

no

repayment

will

be

made

more

than

three

years

after

the

date

of

a

payment

or

waiver.

The

I

Class

is

also

subject

to

an

operating

expense

limitation

(I

Class

Limit)

pursuant

to

which

Price

Associates

is

contractually

required

to

pay

all

operating

expenses

of

the

I

Class,

excluding

management

fees;

interest;

expenses

related

to

borrowings,

taxes,

and

brokerage; non-recurring,

extraordinary expenses; and

acquired

fund

fees

and

expenses, to

the

extent

such

operating

expenses,

on

an

annualized

basis,

exceed

the

I

Class

Limit. This

agreement

will

continue

through

the

expense

limitation

date

indicated

in

the

table

below,

and

may

be

renewed,

revised,

or

revoked

only

with

approval

of

the

fund’s

Board.

The

I

Class

is

required

to

repay

Price

Associates

for

expenses

previously

paid

to

the

extent

the

class’s

net

assets

grow

or

expenses

decline

sufficiently

to

allow

repayment

without

causing

the

class’s

operating

expenses

(after

the

repayment

is

taken

into

account)

to

exceed

the

lesser

of:

(1)

the

I

Class

Limit

in

place

at

the

time

such

amounts

were

paid;

or

(2)

the

current

I

Class

Limit.

However,

no

repayment

will

be

made

more

than

three

years

after

the

date

of

a

payment

or

waiver.

Pursuant

to

these

agreements,

expenses

were waived/paid

by

and/or

repaid

to

Price

Associates

during

the year

ended October

31,

2024 as

indicated

in

the

table

below.

Including

these

amounts,

expenses

previously

waived/paid

by

Price

Associates

in

the

amount

of $137,000 remain

subject

to

repayment

by

the

fund

at

October

31,

2024. Any

repayment

of

expenses

previously

T.

ROWE

PRICE

Global

Growth

Stock

Fund

37

waived/paid

by

Price

Associates

during

the

period

would

be

included

in

the

net

investment

income

and

expense

ratios

presented

on

the

accompanying

Financial

Highlights.

In

addition,

the

fund

has

entered

into

service

agreements

with

Price

Associates

and

two

wholly

owned

subsidiaries

of

Price

Associates,

each

an

affiliate

of

the

fund

(collectively,

Price).

Price

Associates

provides

certain

accounting

and

administrative

services

to

the

fund.

T.

Rowe

Price

Services,

Inc.

provides

shareholder

and

administrative

services

in

its

capacity

as

the

fund’s

transfer

and

dividend-disbursing

agent.

T.

Rowe

Price

Retirement

Plan

Services,

Inc.

provides

subaccounting

and

recordkeeping

services

for

certain

retirement

accounts

invested

in

the

Investor

Class

and

Advisor

Class.

For

the

year

ended

October

31,

2024,

expenses

incurred

pursuant

to

these

service

agreements

were

$118,000

for

Price

Associates;

$563,000

for

T.

Rowe

Price

Services,

Inc.;

and

$7,000

for

T.

Rowe

Price

Retirement

Plan

Services,

Inc.

All

amounts

due

to

and

due

from

Price,

exclusive

of

investment

management

fees

payable,

are

presented

net

on

the

accompanying

Statement

of

Assets

and

Liabilities.

T.

Rowe

Price

Investment

Services,

Inc.

(Investment

Services)

serves

as

distributor

to

the

fund.

Pursuant

to

an

underwriting

agreement,

no

compensation

for

any

distribution

services

provided

is

paid

to

Investment

Services

by

the

fund

(except

for

12b-1

fees

under

a

Board-approved

Rule

12b-1

plan).

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

(together,

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,

if

any,

is

invested

in

the

T.

Rowe

Price

Government

Reserve Fund. The

Price

Reserve

Funds

pay

no

investment

management

fees.

Investor

Class

Advisor

Class

I

Class

Expense

limitation/I

Class

Limit

0.99%

1.10%

0.05%

Expense

limitation

date

12/31/26

12/31/26

12/31/26

(Waived)/repaid

during

the

period

($000s)

$—

$(3)

$(68)

T.

ROWE

PRICE

Global

Growth

Stock

Fund

38

As

of

October

31,

2024,

T.

Rowe

Price

Group,

Inc.,

or

its

wholly

owned

subsidiaries,

owned

342,893

shares

of

the

I

Class,

representing

2%

of

the

I

Class's

net

assets. 

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

October

31,

2024,

the

fund

had

no

purchases

or

sales

cross

trades

with

other

funds

or

accounts

advised

by

Price

Associates.

NOTE

7

-

OTHER

MATTERS

Unpredictable environmental,

political,

social

and

economic

events,

including

but

not

limited

to,

environmental

or

natural

disasters,

war

and

conflict

(including

Russia’s

military

invasion

of

Ukraine

and

the

conflict

in

Israel,

Gaza

and

surrounding

areas),

terrorism,

geopolitical

developments

(including

trading

and

tariff

arrangements,

sanctions

and

cybersecurity

attacks),

and

public

health

epidemics

(including

the

global

outbreak

of

COVID-19)

and

similar

public

health

threats,

may

significantly

affect

the

economy

and

the

markets

and

issuers

in

which

a

fund

invests.

The

extent

and

duration

of

such

events

and

resulting

market

disruptions

cannot

be

predicted.

These

and

other

similar

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.

The

fund’s

performance

could

be

negatively

impacted

if

the

value

of

a

portfolio

holding

were

harmed

by

these

or

such

events.

Management

actively

monitors

the

risks

and

financial

impacts

arising

from

such

events.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

39

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

To

the

Board

of

Directors

of

T.

Rowe

Price

International

Funds,

Inc.

and

Shareholders

of

T.

Rowe

Price

Global

Growth

Stock

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

Global

Growth

Stock

Fund

(one

of

the

funds

constituting

T.

Rowe

Price

International

Funds,

Inc.,

referred

to

hereafter

as

the

"Fund")

as

of

October

31,

2024,

the

related

statement

of

operations

for

the

year

ended

October

31,

2024,

the

statement

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2024,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2024

(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

October

31,

2024,

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

October

31,

2024

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2024

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.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

40

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

October

31,

2024

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.

/s/

PricewaterhouseCoopers

LLP

Baltimore,

Maryland

December

18,

2024

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

T.

Rowe

Price

group

of

investment

companies

since

1973.

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

(continued)

T.

ROWE

PRICE

Global

Growth

Stock

Fund

41

TAX

INFORMATION

(UNAUDITED)

FOR

THE

TAX

YEAR

ENDED 10/31/24

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.

For

taxable

non-corporate

shareholders,

$9,291,000

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,

$4,602,000

of

the

fund's

income

qualifies

for

the

dividends-received

deduction.

100

East

Pratt

Street

Baltimore,

MD

21202

T.

Rowe

Price

Investment

Services,

Inc.

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.

F174-050

12/24

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Remuneration paid to Directors is included in Item 7 of this Form N-CSR.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

If applicable, see Item 7.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 15. Submission of Matters to a Vote of Security Holders.

There has been no change to the procedures by which shareholders may recommend nominees to the registrant’s board of directors.

Item 16. Controls and Procedures.

(a)  The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.

(b)  The registrant’s principal executive officer and principal financial officer are aware of no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

Item 19. Exhibits.

(a)(1)	The registrant’s code of ethics pursuant to Item 2 of Form N-CSR is attached.
(2)	Listing standards relating to recovery of erroneously awarded compensation: not applicable.
(3)	Separate certifications by the registrant’s principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.
(b)	A certification by the registrant’s principal executive officer and principal financial officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

T. Rowe Price International Funds, Inc.
By	/s/ David Oestreicher
	David Oestreicher
	Principal Executive Officer
Date	December 18, 2024

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By	/s/ David Oestreicher
	David Oestreicher
	Principal Executive Officer
Date	December 18, 2024

By	/s/ Alan S. Dupski
	Alan S. Dupski
	Principal Financial Officer
Date	December 18, 2024