STEPH JACKSON TO RETIRE FROM T. ROWE PRICE INVESTMENT MANAGEMENT

Steven Krichbaum named successor and new head of TRPIM in 2027

T. Rowe Price announced today a planned leadership transition within its T. Rowe Price Investment Management division (TRPIM), as Steph Jackson, who currently serves as head of TRPIM and is a member of the Management Committee, will be retiring at the end of 2026. Jackson's tenure at T. Rowe Price has been marked by impactful leadership and a steadfast commitment to clients, associates, and community.

Since joining T. Rowe Price in 2007, Jackson has held influential roles, including portfolio specialist, director of research for the Equity Associate Analyst Program, director of research for the European equity research team in London, and associate head of U.S. Equity. Most notably, Jackson's vision and leadership were pivotal to the establishment of TRPIM in 2022, strengthening the firm's ability to serve clients and positioning T. Rowe Price for continued success.

Beyond his executive responsibilities, Jackson has served as a dedicated leader within the firm by championing and supporting multiple business resource groups, while promoting an environment of inclusivity and excellence. Jackson's legacy also includes deepening the firm's community ties in Baltimore, notably as the executive champion of the T. Rowe Price Foundation's Moonshot initiative, which connects T. Rowe Price with local entrepreneurs and social enterprises.

Effective January 22, 2026, Steven Krichbaum will assume the role of associate head of TRPIM and will succeed Jackson as head of TRPIM on January 1, 2027. He will serve on the firm's Management Committee and report to Eric Veiel, head of Global Investments and chief investment officer.

Krichbaum, who joined T. Rowe Price in 2006, brings nearly two decades of investment, leadership, and commercial experience. His career includes roles as analyst, associate portfolio manager, and head of strategic initiatives, with significant contributions to TRPIM's creation. Most recently, Krichbaum has served as TRPIM director of equity and fixed income research.

Krichbaum will work closely with Jackson throughout 2026 to ensure a seamless transition.

"We are immensely grateful for Steph's outstanding leadership and service," said Veiel. "We look forward to celebrating his achievements over the coming year and supporting Steven as he leads TRPIM into its next chapter."

^{ABOUT T. Rowe Price INVESTMENT MANAGEMENT}
T. Rowe Price Investment Management (TRPIM) is a division of T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), established in 2022 to enhance the firm's ability to deliver specialized investment solutions for clients globally. TRPIM draws on the deep investment expertise, disciplined research, and client-focused culture that have defined T. Rowe Price for over 85 years. The division offers equity, fixed income, and multi-asset strategies to institutions, financial intermediaries, and individual investors worldwide. Headquartered in Baltimore, Maryland, TRPIM operates as part of T. Rowe Price's global network, serving clients across North America, Europe, Asia, and the Middle East.

^{ABOUT T. ROWE PRICE}
T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.78 trillion in client assets as of December 31, 2025, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets. Visit troweprice.com/newsroom for news and public policy commentary.

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SOURCE T. Rowe Price Group