T. ROWE PRICE COMPLETES ACQUISITION OF RETIREE, INC.

Completed Deal Expands Firms' Retirement Income Capabilities

BALTIMORE, April 20, 2023 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, today announced it has completed the acquisition of Retiree, Inc., a fintech firm that offers innovative retirement income planning software.

"We are thrilled to have completed this acquisition and look forward to welcoming the Retiree, Inc. associates and clients to T. Rowe Price. Combining our strengths in retirement will allow us to bring new solutions to clients to deliver improved retirement outcomes," said Phil Korenman, head of Individual Investors at T. Rowe Price.

William Meyer, Founder and CEO of Retiree, Inc. said, "I believe this acquisition will provide clients with access to tools and expertise that will help build more confidence in their retirement planning," Mr. Meyer continued, "We are excited that T. Rowe Price is committed to support financial advisors and intermediaries with resources to help their clients as they enter into retirement."

With the closing of the transaction, Retiree Inc. associates will join T. Rowe Price, and William Meyer will report to Phil Korenman. Other terms of the deal have not been disclosed.   

For additional information on the acquisition, please read the announcement news release here. 

ABOUT T. ROWE PRICE

Founded in 1937, T. Rowe Price (NASDAQ: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management approach of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price manages USD$1.34 trillion in assets under management as of March 31, 2023, and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, Twitter, YouTube, and troweprice.com/newsroom.

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SOURCE T. Rowe Price Group, Inc.