Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print T. Rowe Price All-Cap Opportunities Port Release date as of 2024-03-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-03-31 Out of 1111 Large Growth Funds Morningstar® Style Box™ What is this? As of 2024-03-31 Total Fund Assets ($ Mil) 508.6 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks long-term capital growth. The fund invests primarily (at least 65% of its total assets) in common stocks of U.S. companies operating in those sectors of the economy that, in the view of the fund's adviser are the fastest growing or have the greatest growth potential. While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund's objective.

Morningstar Category: Large Growth Large-growth portfolios invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). Most of these portfolios focus on companies in rapidly expanding industries.

Investment Risks There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 90.0 Non-U.S. Stocks 8.9 Bonds 0.0 Cash 0.4 Other 0.8 Data through 2024-03-31 Morningstar Equity Sectors % of Stocks Cyclical 25.91 Basic Materials 2.83 Consumer Cyclical 11.63 Financial Services 11.16 Real Estate 0.29 Sensitive 59.37 Communication Services 9.29 Energy 7.00 Industrials 9.30 Technology 33.78 Defensive 14.72 Consumer Defensive 2.30 Healthcare 12.10 Utilities 0.32 Data through 2024-03-31 Holding Status Total Number of Stock Holdings 96 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 35.63 Turnover % (as of 2023-12-31) 101.90 30 Day SEC Yield % 0.00 Top Holdings Sector P/E % of Net Assets Microsoft Corp 38.04 7.31 NVIDIA Corp 75.74 5.08 Amazon.com Inc 62.20 4.43 Apple Inc 26.67 4.40 Meta Platforms Inc Class A 32.66 3.14 Visa Inc Class A 32.15 3.09 Uber Technologies Inc 88.49 2.22 Alphabet Inc Class C 26.25 2.21 The Home Depot Inc 25.39 1.91 Netflix Inc 50.48 1.84 Data through 2024-03-31

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Active Management, High Portfolio Turnover, Market/Market Volatility, Equity Securities, Industry and Sector Investing, Other Show Risk Definitions

Other Information Inception Date: 1994-03-31 Portfolio Manager(s) Justin P. White   (2016-04-01) Justin White has been chair of the committee since 2016 He joined T. Rowe Price in 2008, and his investment experience dates from that time. He has served as a portfolio manager with the Firm throughout the past five years. He was a portfolio manager in the U.S. Equity Division of T. Rowe Price. Prior to his current role, Mr. White was an equity analyst covering Internet infrastructure companies and cable/satellite and U.S. telecom companies. He is a vice president of T. Rowe Price Group, Inc. Mr. White joined the firm in 2008 after serving as an equity summer intern for T. Rowe Price in 2007. Prior to this, he was a senior analyst at the Analysis Group in Washington, D.C. Mr. White earned an A.B., magna cum laude, in applied mathematics and economics from Dartmouth College and an M.B.A. from the Tuck School of Business at Dartmouth, where he was a member of Phi Beta Kappa, graduated with highest distinction, and was an Edward Tuck Scholar. He also has earned the Chartered Financial Analyst designation. Investment Advisor(s) T. Rowe Price Associates, Inc. Issuer T. Rowe Price Subadvisor(s) ---

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