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*The data reflected in the Tax Center for Preliminary Year-End Distributions are estimates and subject to change up until the declaration date of each fund. The NAV and Total Capital Gain as a % of NAV are as of 10/31/2017. These estimates were published on 11/22/17.

Based on current estimates, all or a significant portion of dividends paid in 2017 may be reclassified from income to return of capital or long-term capital gain for the following funds: Emerging Markets Bond Fund (all classes), Emerging Markets Local Currency Bond (all classes), Global Real Estate (all classes), International Bond Fund (all classes), Institutional International Bond, and Real Estate Fund (all classes). The tax character of dividends will be determined at year end and will be reported in January on your Form 1099-DIV and at https://individual.troweprice.com/public/Retail/Planning-&-Research/Tax-Planning?van=taxplanning.

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