T. ROWE PRICE ADVANCES AI STRATEGY WITH LEADERSHIP MODEL BUILT TO ACCELERATE AND SCALE EXECUTION

BALTIMORE, Aug. 13, 2026 /PRNewswire/ -- T. Rowe Price (NASDAQ: TROW) today announced leadership enhancements that support its firmwide artificial intelligence (AI) strategy and are designed to accelerate responsible adoption, scale practical AI capabilities, and translate AI innovation into value for clients, associates, and the business. The updates strengthen AI leadership within Investments and Global Distribution and build on the enterprise Technology, Data, and Operations foundation established to support scale and innovation.

The firm has built a strong enterprise AI foundation to support its strategy, including dedicated Technology, Data, and Operations capabilities, active use case development across key business areas, broader associate access to AI tools, and enhanced risk oversight to enable responsible scaling. These latest enhancements are designed to accelerate the momentum of AI work already underway across the firm, ensuring adoption is focused on high-value use cases that strengthen investment insight, improve the client and associate experience, and enhance the firm's ability to deliver value for clients.

Within Investments, T. Rowe Price is expanding its Investment AI Solutions organization as a core pillar of the firm's AI strategy, with a focus on helping investors apply AI consistently across asset classes while accelerating the development and adoption of AI-enabled capabilities. Focused teams will advance agentic AI products, education, strategic partnerships, experimentation, and research, helping investment professionals use AI to sharpen analysis, improve productivity, and complement the human expertise that distinguishes the firm's investment process.

In Global Distribution, a dedicated AI strategy and transformation team will advance the client engagement pillar of the firm's AI strategy, with a multiyear vision for how AI can improve client experience, deepen client engagement, strengthen associate capabilities, and accelerate innovation. The team will work across Global Distribution and with enterprise partners to prioritize and scale practical AI use cases that support the firm's broader growth and innovation agenda.

These business-led teams are supported by enterprise AI capabilities within Technology, Data, and Operations, including T. Rowe Price Labs, which serves as a scaling engine for the firm's AI strategy by partnering with business units to advance innovation, enhance analytical capabilities, and support responsible AI use. The firm has also strengthened AI, model, and technology risk oversight to help ensure governance keeps pace as adoption scales.

"AI is reshaping our industry, and our strategy is to apply it in ways that are innovative, client-centered, and grounded in the strengths that have long defined T. Rowe Price," said Eric Veiel, president and co-head of Global Investments. "These enhancements bring greater focus to the work already underway across Investments, Global Distribution, and Technology, Data, and Operations as we scale AI capabilities responsibly across the firm."

"Our distribution strategy is centered on meeting clients where they are and delivering the insights, solutions, and service they need with greater speed and relevance," said Dee Sawyer, head of Global Distribution. "AI is an important enabler of that strategy. By applying it thoughtfully across Global Distribution, our teams can work more effectively, deepen client engagement, and continue modernizing the way we support clients and grow the business."

"Scaling AI responsibly requires the technology, data, operating discipline, and governance to turn promising ideas into durable capabilities," said Ramon Richards, global head of Technology, Data, and Operations and chief technology officer. "We are building the enterprise foundation that allows AI strategy to move from ambition to execution--helping teams across T. Rowe Price move with greater focus and pace and apply AI in ways that create tangible value for clients, associates, and the business."

Key teams advancing the firm's AI strategy include:

• Investment AI Solutions, led by Vinit Agrawal, will drive the investment pillar of the firm's AI strategy, with focus areas across AI strategy, agentic products, education and adoption, strategic partnerships, and experimentation and research.
• Global Distribution AI Strategy and Transformation, led by Sal Dhanani, will advance the client engagement pillar of the firm's AI strategy by setting the multiyear AI vision and prioritizing use cases that improve client experience, deepen client engagement, strengthen associate capabilities, and accelerate innovation.
• T. Rowe Price Labs, led by Mathieu Lorentz, is the firm's enterprise AI innovation hub within the broader AI Engineering organization led by Chris LePre, head of AI Engineering and Application Development. The Labs teams help evaluate emerging technologies, prototype high-value use cases, and scale secure AI solutions that support the firm's AI strategy, client outcomes, and business performance.
• Enterprise AI, Model, and Technology Risk, led by Prabhakar Bhogaraju, reporting to Ted Carter, chief risk officer, will support responsible governance, oversight, and regulatory readiness as the firm executes its AI strategy at scale.

ABOUT T. ROWE PRICE

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.87 trillion in client assets as of July 31, 2026, about two-thirds of which are retirement-related. Renowned for nearly 90 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 amid evolving markets. Visit troweprice.com/newsroom for news and public policy commentary.

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SOURCE T. Rowe Price Group