2015 Tax Information for T. Rowe Price Taxable Funds
Dividends-Received Deduction (for corporations only)

Corporate taxpayers generally are entitled to a deduction for dividends received from another domestic corporation. To determine the amount of dividends qualifying for this deduction, multiply the "percent qualifying for deduction" (shown in the table) by the amount of your total ordinary dividends. Please note that ordinary dividends of a mutual fund includes, if applicable, net short-term capital gains and foreign taxes paid.

Note that you may not take this deduction for a dividend on shares of a fund that have been held for less than 46 days during the 91-day period beginning on the date 45 days before the ex-dividend date. You may find your fund's ex-dividend date here.

Dividends-Received Deductions Tables
T. Rowe Price Domestic Stock Funds
  Percent Qualifying for Deduction1
Balanced (All Quarters) 33.36%
Blue Chip Growth N/A
Capital Appreciation 22.56%
Capital Opportunity 96.20%
Diversified Mid-Cap Growth 91.19%
Diversified Small-Cap Growth 100.00%
Dividend Growth (All Quarters) 100.00%
Equity Income (All Quarters) 98.56%
Equity Index 500 (All Quarters) 100.00%
Extended Equity Market Index 70.05%
Financial Services 100.00%
Growth & Income (All Quarters) 100.00%
Growth Stock N/A
Health Sciences 23.15%
Media & Telecommunications 54.80%
Mid-Cap Growth 85.45%
Mid-Cap Value 89.26%
New America Growth 70.44%
New Era 68.90%
New Horizons N/A
Personal Strategy Balanced (All Quarters) 28.15%
Personal Strategy Growth 44.23%
Personal Strategy Income (All Quarters) 18.28%
Real Assets 21.28%
Real Estate (All Quarters) 0.60%
Science & Technology 6.16%
Small-Cap Stock 100.00%
Small-Cap Value 100.00%
Tax-Efficient Equity 100.00%
Total Equity Market Index 100.00%
U.S. Large-Cap Core 93.78%
Value 98.36%
T. Rowe Price Taxable Bond Funds
  Percent Qualifying for Deduction1
Corporate Income
Credit Opportunities 1.17%
Floating Rate
High Yield 0.59%
Inflation Protected Bond
Limited Duration Inflation Focused Bond N/A
New Income 0.01%
Prime Reserve
Short-Term Bond
Summit Cash Reserves
Ultra Short-Term Bond
U.S. Bond Enhanced Index
U.S. Treasury Intermediate
U.S. Treasury Long-Term
U.S. Treasury Money
T. Rowe Price Tax-Free Bond Funds
  Percent Qualifying for Deduction1
California Tax-Free Bond N/A
California Tax-Free Money N/A
Georgia Tax-Free Bond N/A
Intermediate Tax-Free High Yield
Maryland Short-Term Tax-Free Bond N/A
Maryland Tax-Free Bond
Maryland Tax-Free Money N/A
New Jersey Tax-Free Bond
New York Tax-Free Bond
New York Tax-Free Money N/A
Summit Municipal Income
Summit Municipal Intermediate
Summit Municipal Money Market N/A
Tax-Exempt Money N/A
Tax-Free High Yield 55.25%
Tax-Free Income N/A
Tax-Free Short-Intermediate N/A
Virginia Tax-Free Bond 0.36%
T. Rowe Price International/Global Stock and Bond Funds
  Percent Qualifying for Deduction1
International/Global Stock Funds
Africa & Middle East
Asia Opportunities 7.52%
Emerging Europe
Emerging Markets Stock 1.09%
Emerging Markets Value Stock
European Stock 0.21%
Global Allocation 19.29%
Global Growth Stock 10.55%
Global Industrials 96.07%
Global Real Estate (All Quarters) 1.65%
Global Stock 100.00%
Global Technology 2.47%
International Concentrated Equity 0.17%
International Discovery 0.09%
International Equity Index 0.04%
International Growth & Income
International Stock 3.58%
Latin America 5.36%
New Asia
Overseas Stock 0.23%
International/Global Bond Funds
Emerging Markets Bond
Emerging Markets Corporate Bond
Emerging Markets Local Currency Bond N/A
Global High Income Bond
Global Multi-Sector Bond2 0.16%
Global Unconstrained Bond
International Bond N/A
T. Rowe Price Retirement and Spectrum Funds
  Percent Qualifying for Deduction1
Retirement 2005 22.86%
Retirement 2010 27.85%
Retirement 2015 29.49%
Retirement 2020 32.10%
Retirement 2025 34.30%
Retirement 2030 37.66%
Retirement 2035 41.64%
Retirement 2040 44.99%
Retirement 2045 45.68%
Retirement 2050 45.16%
Retirement 2055 45.50%
Retirement 2060 41.73%
Retirement Balanced 29.45%
Spectrum Growth 51.22%
Spectrum Income 8.09%
Spectrum International 0.75%
Target Retirement 2005 21.52%
Target Retirement 2010 22.33%
Target Retirement 2015 24.43%
Target Retirement 2020 25.76%
Target Retirement 2025 26.75%
Target Retirement 2030 30.29%
Target Retirement 2035 30.46%
Target Retirement 2040 33.56%
Target Retirement 2045 37.07%
Target Retirement 2050 40.81%
Target Retirement 2055 43.53%
Target Retirement 2060 43.67%

1This percentage applies to the sum of your income dividend plus short-term capital gain distribution paid for the calendar year or other period, if indicated, as reported in Box 1a of your IRS Form 1099-DIV.

2Formerly T. Rowe Price Strategic Income Fund.

Percentages are the same for all fund classes (Investor, Advisor, R, and I classes and Portfolio and Portfolio—II classes). For more information, please visit our website for financial intermediaries at www.troweprice.com/fi/distributions.

N/A indicates that a fund did not pay a dividend or short-term capital gain, or pass through foreign tax paid.

A dash indicates that the fund paid a dividend or short-term capital gain, but it was not entitled to a deduction for dividends received.