UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-10063

T. Rowe Price International Index Fund, Inc.

(Exact name of registrant as specified in charter)

100 East Pratt Street, Baltimore, MD 21202

(Address of principal executive offices)

David Oestreicher

100 East Pratt Street, Baltimore, MD 21202

(Name and address of agent for service)

Registrant’s telephone number, including area code: (410) 345-2000

Date of fiscal year end: October 31

Date of reporting period: October 31, 2023

Item 1. Reports to Shareholders

(a) Report pursuant to Rule 30e-1

Highlights

and

Market

Commentary

Management’s

Discussion

of

Fund

Performance

Performance

and

Expenses

Financial

Highlights

Portfolio

of

Investments

Financial

Statements

and

Notes

Additional

Fund

Information

October

31,

2023

Annual

Report

For

more

insights

from

T.

Rowe

Price

investment

professionals,

go

to

troweprice.com

.

T.

ROWE

PRICE

PIEQX

International

Equity

Index

Fund

–

.

TLIEX

International

Equity

Index

Fund–

.

Z Class

T.

ROWE

PRICE

International

Equity

Index

Fund

HIGHLIGHTS

The

fund

produced

a

positive

return

and

tracked

its

benchmark,

the

MSCI

EAFE

Index

Net,

in

the

12

months

ended

October

31,

2023.

The

fund

is

designed

to

mirror

its

benchmark,

which

is

a

yardstick

of

performance

in

developed

non-U.S.

stock

markets.

Active

management

decisions

do

not

play

a

role

in

our

allocations.

At

the

end

of

October,

Europe

represented

63%

of

net

assets,

Japan

accounted

for

22%,

and

most

of

the

remainder

was

invested

elsewhere

in

the

Pacific

Rim.

Various

crosscurrents

in

international

stock

markets

continue

to

make

it

difficult

to

determine

what

may

be

driving

stocks

at

any

given

moment.

In

any

event,

our

task

is

not

to

select

stocks,

sectors,

or

countries

that

we

think

will

outperform.

Log

in

to

your

account

at

troweprice.com

for

more

information.

*

An

account

service

fee

will

be

charged

annually

for

each

T.

Rowe

Price

mutual

fund

account

unless

you

meet

criteria

for

a

fee

waiver.

Go

to

troweprice.com/personal-investing/help/fees-and-

minimums.html

to

learn

more

about

this

account

service

fee,

including

other

ways

to

waive

it.

T.

ROWE

PRICE

International

Equity

Index

Fund

Market

Commentary

1

Dear

Shareholder

Most

major

global

stock

and

bond

indexes

produced

positive

results

during

your

fund’s

fiscal

year,

the

12-month

period

ended

October

31,

2023,

although

a

downturn

over

the

past

six

months

offset

some

of

the

strong

gains

recorded

in

the

first

half

of

the

period.

Global

economies

managed

to

avoid

the

recession

that

was

widely

predicted

at

the

start

of

2023,

but

signs

that

central

banks

might

need

to

keep

interest

rates

higher

for

longer

than

previously

expected

weighed

on

market

sentiment.

Growth

stocks

outperformed

value

shares

over

the

12-month

period,

and

stocks

in

developed

markets

generally

outpaced

their

counterparts

in

emerging

markets.

Currency

movements

were

mixed

over

the

period,

although

a

weaker

dollar

versus

major

European

currencies

was

beneficial

for

U.S.

investors

in

European

securities.

Technology

companies

benefited

from

investor

enthusiasm

for

artificial

intelligence

developments

and

produced

some

of

the

strongest

results

in

the

equity

market.

Within

the

S&P

500

Index,

the

communication

services

and

information

technology

sectors

were

lifted

by

the

rally

in

tech-related

companies

and

recorded

significant

gains.

The

financials

sector

partly

recovered

from

the

failure

of

three

large

regional

banks

during

the

period

but

still

finished

in

negative

territory.

Corporate

fundamentals

were

broadly

supportive.

Although

year-over-year

earnings

growth

contracted

in

the

first

and

second

quarters

of

2023,

results

were

better

than

expected,

and

preliminary

estimates

pointed

to

a

resumption

of

growth

in

the

third

quarter.

The

U.S.

economy

was

the

strongest

among

the

major

markets

during

the

period,

with

gross

domestic

product

growth

coming

in

at

4.9%

in

the

third

quarter’s

initial

estimate,

the

highest

since

the

end

of

2021.

Growth

in

Europe

and

Japan

was

more

sluggish,

and

China’s

economy

was

beset

by

worries

about

its

property

sector

after

an

initial

boost

from

its

decision

at

the

end

of

2022

to

lift

most

of

its

pandemic-related

restrictions.

A

protracted

debt

ceiling

standoff

in

the

U.S.,

the

ongoing

conflict

between

Ukraine

and

Russia,

and

the

outbreak

of

war

in

the

Middle

East

following

the

attack

on

Israel

by

Hamas

produced

headwinds

for

markets

at

various

times.

Investors

also

remained

focused

on

inflation

as

price

increases

moderated

but

remained

well

above

the

Federal

Reserve’s

2%

target.

In

response,

the

Fed

continued

to

raise

its

short-term

lending

benchmark

rate,

lifting

it

to

a

target

range

of

5.25%

to

5.50%

by

the

end

of

July,

the

highest

level

since

March

2001.

T.

ROWE

PRICE

International

Equity

Index

Fund

2

U.S.

Treasury

yields

increased

as

the

Fed

tightened

monetary

policy

and

investors

priced

in

the

possibility

that

the

central

bank

may

have

to

keep

rates

higher

for

longer

than

previously

anticipated.

In

addition,

Treasuries

were

pressured

by

Fitch

Ratings’

decision

to

downgrade

the

credit

rating

of

U.S.

government

debt

from

the

highest

level,

AAA,

to

AA+

along

with

expectations

for

higher

levels

of

borrowing

by

the

Treasury

Department.

The

yield

on

the

benchmark

10-year

Treasury

note

briefly

reached

5.00%

in

October

for

the

first

time

since

late

2007

before

falling

back

to

4.88%

by

period-end.

Increasing

yields

over

the

past

six

months

led

to

weak

results

across

most

of

the

fixed

income

market,

although

high

yield

bonds,

which

are

less

sensitive

to

rising

rates,

held

up

relatively

well

as

default

rates

remained

low

by

historical

standards.

Global

economies

and

markets

showed

surprising

resilience

in

2023,

but

considerable

uncertainty

remains

as

we

look

ahead

to

2024.

Geopolitical

events,

the

path

of

monetary

policy,

and

the

impact

of

the

Fed’s

rate

hikes

on

the

economy

all

raise

the

potential

for

additional

volatility.

We

believe

this

environment

makes

skilled

active

management

a

critical

tool

for

identifying

risks

and

opportunities,

and

our

investment

teams

will

continue

to

use

fundamental

research

to

identify

securities

that

have

the

potential

to add

value

to

your

portfolio

over

the

long

term.

Thank

you

for

your

continued

confidence

in

T.

Rowe

Price.

Sincerely,

Robert

Sharps

CEO

and

President

T.

ROWE

PRICE

International

Equity

Index

Fund

Management’s

Discussion

of

Fund

Performance

3

INVESTMENT

OBJECTIVE 

The

fund

seeks

to

provide

long-term

capital

growth.

FUND

COMMENTARY

How

did

the

fund

perform

in

the

past 12

months?

The

International

Equity

Index

Fund

returned

15.12%

for

the

12

months

ended

October

31,

2023,

versus

14.40%

for

its

benchmark,

the

MSCI

EAFE

Index

Net.

The

fund

usually

lags

the

benchmark

slightly

due

to

operating

and

management

expenses.

(The

performance

of

Z

Class

shares

will

vary

due

to

a

different

fee

structure.

Past

performance

cannot

guarantee

future

results.)

What

factors

influenced

the

fund’s

performance?

The

fund

seeks

to

mirror

the

structure

and

performance

of

the

benchmark

and

give

investors

exposure

to

the

major

international

markets

in

the

developed

world.

We

make

no

individual

stock

selection

decisions

based

on

bottom-up

fundamental

research.

Differences

in

the

fund’s

results

relative

to

the

benchmark

primarily

reflect

“fair

value”

pricing

and,

as

noted

earlier,

operating

and

management

expenses,

which

are

not

incurred

by

the

benchmark.

As

described

in

the

fund’s

prospectus,

because

there

are

timing

differences

between

when

the

fund

prices

its

securities

and

when

certain

foreign

markets

close,

the

fund

adjusts

the

prices

of

its

portfolio

securities

to

reflect

market

events

that

may

affect

prices

after

the

close

of

foreign

markets.

The

fund

values

its

securities

in

this

way

to

protect

shareholders

and

deter

market

timing

by

speculators.

Since

the

index

does

not

need

to

apply

fair

valuation,

this

technicality

contributes

to

the

performance

disparity

between

the

fund

and

the

index.

At

the

sector

level,

all

sectors

advanced.

Financials,

consumer

discretionary,

information

technology,

and

energy

stocks

posted

the

best

returns

in

absolute

terms.

Real

estate,

health

care,

communication

services,

and

consumer

staples

names

all

strongly

underperformed

the

broader

index

but

produced

positive

returns

for

the

year.

PERFORMANCE

COMPARISON

Total

Return

Periods

Ended

10/31/23

6

Months

12

Months

International

Equity

Index

Fund

–

.

-7.56‌%

15.12‌%

International

Equity

Index

Fund–

.

Z  Class

-7.36‌

15.46‌

MSCI

EAFE

Index

Net

-7.88‌

14.40‌

FTSE

Developed

ex

North

America

Index

Net

-7.60‌

14.09‌

T.

ROWE

PRICE

International

Equity

Index

Fund

4

Geographically,

returns

were

mostly

positive

in

U.S.

dollar

terms.

Markets

in

Denmark,

Italy,

and

Spain

were

among

the

top

performers

in

absolute

terms,

while

shares

in

Israel

and

Finland

were

among

the

worst

performers

and

produced

losses.

How

is

the

fund

positioned?

The

MSCI

index’s

largest

regional

weightings

at

the

end

of

October

were

Europe,

Japan,

and

the

Pacific

Rim

excluding

Japan.

We

construct

the

fund

by

sorting

the

market

in

each

country

in

the

index

by

industry

groups

and

targeting

a

representative

sampling

of

the

stocks

in

each

industry

for

inclusion.

The

fund

attempts

to

replicate

the

index’s

performance

by

investing

in

stocks

in

proportion

to

their

allocation

in

the

index.

At

the

end

of

October,

Europe

represented

63%

of

net

assets,

Japan

accounted

for

22%,

and

the

rest

of

the

Pacific

Rim

composed

11%.

The

UK,

France,

and

Switzerland

were

the

fund’s

largest

country

allocations

in

Europe,

while

Australia,

Hong

Kong,

and

Singapore

occupied

the

top

positions

in

the

Pacific

ex

Japan

region.

Most

changes

to

the

portfolio’s

sector

weights

since

our

previous

letter

were

relatively

minor.

Financials,

industrials

and

business

services,

health

care,

and

consumer

discretionary

were

the

fund’s

largest

sector

allocations

at

the

end

of

October

and

accounted

for

more

than

half

of

its

assets.

The

fund

remained

broadly

diversified,

consistent

with

the

MSCI

index.

The

fund’s

25

largest

holdings

represented

slightly

more

than

26%

of

total

net

assets

at

the

end

of

the

reporting

period.

As

shown

in

the

Twenty-Five

Largest

Holdings

table

on

page

8,

global

health

care

company

Novo

Nordisk

(Denmark),

food

company

Nestle

(Switzerland),

semiconductor

company

SECTOR

DIVERSIFICATION

Percent

of

Net

Assets

4/30/23

10/31/23

Financials

17.7‌%

18.6‌%

Industrials

and

Business

Services

15.1‌

15.3‌

Health

Care

13.1‌

12.8‌

Consumer

Discretionary

11.7‌

11.6‌

Consumer

Staples

10.3‌

9.6‌

Information

Technology

7.2‌

7.6‌

Materials

7.2‌

7.4‌

Energy

4.5‌

4.8‌

Communication

Services

4.3‌

4.1‌

Utilities

3.4‌

3.4‌

Real

Estate

2.3‌

2.2‌

Other

and

Reserves

3.2‌

2.6‌

Total

100.0‌%

100.0‌%

Historical

weightings

reflect

current

industry/sector

classifications.

T.

ROWE

PRICE

International

Equity

Index

Fund

5

ASML

Holding

(Netherlands),

energy

company

Shell

(United

Kingdom),

and

luxury

goods

company

LVMH

Moet

Hennessy

Louis

Vuitton

(France)

were

the

fund’s

largest

individual

positions.

(Please

refer

to

the

portfolio

of

investments

for

a

complete

list

of

holdings

and

the

amount

each

represents

in

the

portfolio.)

What

is

portfolio

management’s

outlook?

Various

crosscurrents

in

international

stock

markets

continue

to

make

it

difficult

to

determine

what

may

be

driving

stocks

at

any

given

moment.

On

the

one

hand,

we

see

sticky

inflation

(especially

in

the

UK

and

Europe)

that

will

likely

push

up

interest

rates,

elevated

earnings

estimates

despite

declining

backlogs,

rising

wages,

and

deteriorating

excess

savings.

Second-

quarter

earnings

reports

revealed

that

some

companies

have

been

able

to

cope

with

inflation

by

passing

higher

costs

onto

their

customers.

We

think

that

this

development

is

temporary,

however,

and

that

earnings

in

the

coming

quarters

may

disappoint.

On

the

other

hand,

labor

markets

remain

robust

with

the

number

of

job

openings

still

surpassing

jobless

workers.

Higher-

for-longer

interest

rates

increase

the

risk

of

something

breaking

in

financial

markets.

Moreover,

the

impact

from

pandemic-era

stimulus

is

subsiding

just

as

governments

have

begun

to

worry

about

fiscal

deficits

against

a

backdrop

of

rising

rates

and

middling

growth.

These

risks

reinforce

our

view

that

we

are

in

the

late

innings

of

the

current

cycle—even

if

the

optimism

surrounding

the

artificial

intelligence

boom

has

bought

us

a

few

extra

outs.

In

the

coming

quarters,

we

see

more

reasons

for

markets

to

decline

than

to

advance

given

corporate

fundamentals,

valuations,

and

an

uncertain

macro

environment.

In

any

event,

our

task

is

not

to

select

stocks,

sectors,

or

countries

that

we

think

will

outperform.

Our

objective

is

to

pursue

long-term

capital

growth

and

provide

investors

with

broad

exposure

to

non-U.S.

equities

by

mirroring

the

broad

structure

and

the

performance

of

the

MSCI

benchmark.

The

views

expressed

reflect

the

opinions

of

T.

Rowe

Price

as

of

the

date

of

this

report

and

are

subject

to

change

based

on

changes

in

market,

economic,

or

other

conditions.

These

views

are

not

intended

to

be

a

forecast

of

future

events

and

are

no

guarantee

of

future

results.

T.

ROWE

PRICE

International

Equity

Index

Fund

6

RISKS

OF

STOCK

INVESTING

Stocks

generally

fluctuate

in

value

more

than

bonds

and

may

decline

significantly

over

short

time

periods.

There

is

a

chance

that

stock

prices

overall

will

decline

because

stock

markets

tend

to

move

in

cycles,

with

periods

of

rising

and

falling

prices.

The

value

of

stocks

held

by

the

fund

may

decline

due

to

general

weakness

or

volatility

in

the

stock

markets

in

which

the

fund

invests

or

because

of

factors

that

affect

a

particular

company

or

industry.

RISKS

OF

INTERNATIONAL

INVESTING

Funds

that

invest

overseas

generally

carry

more

risk

than

funds

that

invest

strictly

in

U.S.

assets.

Funds

investing

in

a

single

country

or

limited

geographic

region

tend

to

be

riskier

than

more

diversified

funds.

Risks

can

result

from

varying

stages

of

economic

and

political

development;

differing

regulatory

environments,

trading

days,

and

accounting

standards;

and

higher

transaction

costs

of

non-U.S.

markets.

Non-U.S.

investments

are

also

subject

to

currency

risk,

or

a

decline

in

the

value

of

a

foreign

currency

versus

the

U.S.

dollar,

which

reduces

the

dollar

value

of

securities

denominated

in

that

currency.

RISKS

OF

INDEX

INVESTING

Because

the

fund

is

passively

managed

and

seeks

to

match

the

performance

of

its

benchmark

index,

holdings

are

generally

not

reallocated

based

on

changes

in

market

conditions

or

outlook

for

a

specific

security,

industry,

or

market

sector.

As

a

result,

the

fund’s

performance

may

lag

the

performance

of

actively

managed

funds.

BENCHMARK

INFORMATION

Note:

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

“LSE

Group”).

©

LSE

Group

2023.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company’s

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

T.

ROWE

PRICE

International

Equity

Index

Fund

7

Note:

MSCI

and

its

affiliates

and

third-party

sources

and

providers

(collectively,

“MSCI”)

makes

no

express

or

implied

warranties

or

representations

and

shall

have

no

liability

whatsoever

with

respect

to

any

MSCI

data

contained

herein.

The

MSCI

data

may

not

be

further

redistributed

or

used

as

a

basis

for

other

indices

or

any

securities

or

financial

products.

This

report

is

not

approved,

reviewed,

or

produced

by

MSCI.

Historical

MSCI

data

and

analysis

should

not

be

taken

as

an

indication

or

guarantee

of

any

future

performance

analysis,

forecast

or

prediction.

None

of

the

MSCI

data

is

intended

to

constitute

investment

advice

or

a

recommendation

to

make

(or

refrain

from

making)

any

kind

of

investment

decision

and

may

not

be

relied

on

as

such.

BENCHMARK

INFORMATION

(continued)

T.

ROWE

PRICE

International

Equity

Index

Fund

8

PORTFOLIO

HIGHLIGHTS

TWENTY-FIVE

LARGEST

HOLDINGS

Percent

of

Net

Assets

10/31/23

Novo

Nordisk,

Denmark

2.2‌%

Nestle,

Switzerland

2.0‌ 

ASML

Holding,

Netherlands

1.7‌ 

Shell,

United

Kingdom

1.5‌ 

LVMH

Moet

Hennessy

Louis

Vuitton,

France

1.4‌ 

AstraZeneca,

United

Kingdom

1.3‌ 

Novartis,

Switzerland

1.3‌ 

Roche

Holding,

Switzerland

1.3‌ 

Toyota

Motor,

Japan

1.3‌ 

TotalEnergies,

France

1.0‌ 

Bhp,

Australia

1.0‌ 

HSBC

Holdings,

United

Kingdom

1.0‌ 

SAP,

Germany

1.0‌ 

Unilever,

United

Kingdom

0.8‌ 

BP,

United

Kingdom

0.7‌ 

Sony,

Japan

0.7‌ 

Sanofi,

France

0.7‌ 

Commonwealth

Bank

of

Australia,

Australia

0.7‌ 

L'Oreal,

France

0.7‌ 

Siemens,

Germany

0.7‌ 

AIA

Group,

Hong

Kong

0.7‌ 

Mitsubishi

UFJ

Financial,

Japan

0.7‌ 

Allianz,

Germany

0.6‌ 

Air

Liquide,

France

0.6‌ 

Diageo,

United

Kingdom

0.6‌ 

Total

26.2‌%

Note:

The

information

shown

does

not

reflect

any

exchange-traded

funds

(ETFs),

cash

reserves,

or

collateral

for

securities

lending

that

may

be

held

in

the

portfolio.

T.

ROWE

PRICE

International

Equity

Index

Fund

9

GROWTH

OF

$10,000 

This

chart

shows

the

value

of

a

hypothetical

$10,000

investment

in

the

fund

over

the

past

10

fiscal

year

periods

or

since

inception

(for funds

lacking

10-year

records).

The

result

is

compared

with

benchmarks,

which

include

a

broad-based

market

index

and

may

also

include

a

peer

group

average

or

index.

Market

indexes

do

not

include

expenses,

which

are

deducted

from

fund returns

as

well

as

mutual fund

averages

and

indexes.

INTERNATIONAL

EQUITY

INDEX

FUND 

Note:

Performance

for

the

Z

Class shares

will

vary

due

to

their differing

fee

structure.

See

the

Average

Annual

Compound

Total

Return

table. 

AVERAGE

ANNUAL

COMPOUND

TOTAL

RETURN

Periods

Ended

10/31/23

1

Year

5

Years

10

Years

Since

Inception

Inception

Date

International

Equity

Index

Fund

–

.

15.12‌%

4.29‌%

3.09‌%

–‌

–

International

Equity

Index

Fund–

.

Z  Class

15.46‌

–‌

–‌

5.57‌%

11/2/20

This

table

shows

how

the

fund

would

have

performed

each

year

if

its

actual

(or

cumulative)

returns

for

the

periods

shown

had

been

earned

at

a

constant

rate.

Returns

do

not

reflect

taxes

that

the

shareholder

may

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Past

performance

cannot

guarantee

future

results.

T.

ROWE

PRICE

International

Equity

Index

Fund

10

EXPENSE

RATIO

FUND

EXPENSE

EXAMPLE

As

a

mutual

fund

shareholder,

you

may

incur

two

types

of

costs:

(1)

transaction

costs,

such

as

redemption

fees

or

sales

loads,

and

(2)

ongoing

costs,

including

management

fees,

distribution

and

service

(12b-1)

fees,

and

other

fund

expenses.

The

following

example

is

intended

to

help

you

understand

your

ongoing

costs

(in

dollars)

of

investing

in

the

fund

and

to

compare

these

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

example

is

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

most

recent

six-month

period

and

held

for

the

entire

period.

Please

note

that

the

fund

has

two

share

classes:

The

original

share

class

(Investor

Class)

charges

no

distribution

and

service

(12b-1)

fee,

and

the

and

Z

Class

shares

are

offered

only

to

funds

advised

by

T.

Rowe

Price

and

other

advisory

clients

of

T.

Rowe

Price

or

its

affiliates

that

are

subject

to

a

contractual

fee

for

investment

management

services

and

impose

no

12b-1

fee

or

administrative

fee

payment.

Actual

Expenses

The

first

line

of

the

following

table

(Actual)

provides

information

about

actual

account

values

and

actual

expenses.

You

may

use

the

information

on

this

line,

together

with

your

account

balance,

to

estimate

the

expenses

that

you

paid

over

the

period.

Simply

divide

your

account

value

by

$1,000

(for

example,

an

$8,600

account

value

divided

by

$1,000

=

8.6),

then

multiply

the

result

by

the

number

on

the

first

line

under

the

heading

“Expenses

Paid

During

Period”

to

estimate

the

expenses

you

paid

on

your

account

during

this

period.

Hypothetical

Example

for

Comparison

Purposes

The

information

on

the

second

line

of

the

table

(Hypothetical)

is

based

on

hypothetical

account

values

and

expenses

derived

from

the

fund’s

actual

expense

ratio

and

an

assumed

5%

per

year

rate

of

return

before

expenses

(not

the

fund’s

actual

return).

You

may

compare

the

ongoing

costs

of

investing

in

the

fund

with

other

funds

by

contrasting

this

5%

hypothetical

example

and

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

the

other

funds.

The

hypothetical

account

values

and

expenses

may

not

be

used

to

estimate

the

actual

ending

account

balance

or

expenses

you

paid

for

the

period.

International

Equity

Index

Fund

0.30‌%

International

Equity

Index

Fund–Z

Class

0.15‌ 

The

expense

ratio

shown

is

as

of

the

fund’s

most

recent

prospectus.

This

number

may

vary

from

the

expense

ratio

shown

elsewhere

in

this

report

because

it

is

based

on

a

different

time

period

and,

if

applicable,

includes

acquired

fund

fees

and

expenses

but

does

not

include

fee

or

expense

waivers.

T.

ROWE

PRICE

International

Equity

Index

Fund

11

Note:

T.

Rowe

Price

charges

an

account

service

fee

that

is

not

included

in

the

accompanying

table.

The

account

service

fee

is

charged

on

a

quarterly

basis,

usually

during

the

last

week

of

a

calendar

quarter,

and

applies

to

accounts

with

balances

below

$10,000

on

the

day

of

the

assessment.

The

fee

is

charged

to

accounts

that

fall

below

$10,000

for

any

reason,

including

market

fluctuations,

redemptions,

or

exchanges.

When

an

account

with

less

than

$10,000

is

closed

either

through

redemption

or

exchange,

the

fee

is

charged

and

deducted

from

the

proceeds.

The

fee

applies

to

IRAs

but

not

to

retirement

plans

directly

registered

with

T.

Rowe

Price

Services

or

accounts

maintained

by

intermediaries

through

NSCC

®

Networking.

If

you

are

subject

to

the

fee,

keep

it

in

mind

when

you

are

estimating

the

ongoing

expenses

of

investing

in

the

fund

and

when

comparing

the

expenses

of

this

fund

with

other

funds.

You

should

also

be

aware

that

the

expenses

shown

in

the

table

highlight

only

your

ongoing

costs

and

do

not

reflect

any

transaction

costs,

such

as

redemption

fees

or

sales

loads.

Therefore,

the

second

line

of

the

table

is

useful

in

comparing

ongoing

costs

only

and

will

not

help

you

determine

the

relative

total

costs

of

owning

different

funds.

To

the

extent

a

fund

charges

transaction

costs,

however,

the

total

cost

of

owning

that

fund

is

higher.

INTERNATIONAL

EQUITY

INDEX

FUND

Beginning

Account

Value

5/1/23

Ending

Account

Value

10/31/23

Expenses

Paid

During

Period*

5/1/23

to

10/31/23

Investor

Class

Actual

$1,000.00

$924.40

$1.36

Hypothetical

(assumes

5%

return

before

expenses)

 1,000.00

  1,023.79

  1.43

Z

Class

Actual

  1,000.00

  926.40

  0.00

Hypothetical

(assumes

5%

return

before

expenses)

 1,000.00

  1,025.21

  0.00

*

Expenses

are

equal

to

the

fund’s

annualized

expense

ratio

for

the

6-month

period,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

the

number

of

days

in

the

most

recent

fiscal

half

year

(184),

and

divided

by

the

days

in

the

year

(365)

to

reflect

the

half-year

period.

The

annualized

expense

ratio

of

the

1

Investor

Class

was

0.28%,

and

the

2

Z Class

was

0.00%.

FUND

EXPENSE

EXAMPLE

(CONTINUED)

T.

ROWE

PRICE

International

Equity

Index

Fund

12

QUARTER-END

RETURNS

Periods

Ended

9/30/23

1

Year

5

Years

10

Years

Since

Inception

Inception

Date

International

Equity

Index

Fund

–

.

25.83‌%

3.11‌%

3.73‌%

–‌

–

International

Equity

Index

Fund–

.

Z  Class

26.09‌ 

–‌

–‌

6.86‌%

11/2/20

The

fund’s

performance

information

represents

only

past

performance

and

is

not

necessarily

an

indication

of

future

results.

Current

performance

may

be

lower

or

higher

than

the

performance

data

cited.

Share

price,

principal

value,

and

return

will

vary,

and

you

may

have

a

gain

or

loss

when

you

sell

your

shares.

For

the

most

recent

month-end

performance,

please

visit

our

website

(troweprice.com)

or

contact

a

T.

Rowe

Price

representative

at

1

-

800

-

225

-

5132

or,

for

2

Z

Class

shares,

1-800-638-8790

.

This

table

provides

returns

through

the

most

recent

calendar

quarter-end

rather

than

through

the

end

of

the

fund’s

fiscal

period.

It

shows

how

the

fund

would

have

performed

each

year

if

its

actual

(or

cumulative)

returns

for

the

periods

shown

had

been

earned

at

a

constant

rate.

Average

annual

total

return

figures

include

changes

in

principal

value,

reinvested

dividends,

and

capital

gain

distributions.

Returns

do

not

reflect

taxes

that

the

shareholder

may

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

When

assessing

performance,

investors

should

consider

both

short-

and

long-term

returns.

T.

ROWE

PRICE

International

Equity

Index

Fund

Financial

Highlights

13

For

a

share

outstanding

throughout

each

period

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Investor

Class

..

Year

..

..

Ended

.

10/31/23

10/31/22

10/31/21

10/31/20

10/31/19

NET

ASSET

VALUE

Beginning

of

period

$

12.53‌

$

16.86‌

$

12.81‌

$

13.92‌

$

12.99‌

Investment

activities

Net

investment

income

(1)(2)

0.43‌

0.44‌

0.39‌

0.26‌

0.39‌

Net

realized

and

unrealized

gain/

loss

1.46‌

(4.25‌)

3.92‌

(0.98‌)

0.90‌

Total

from

investment

activities

1.89‌

(3.81‌)

4.31‌

(0.72‌)

1.29‌

Distributions

Net

investment

income

(0.36‌)

(0.40‌)

(0.26‌)

(0.38‌)

(0.36‌)

Net

realized

gain

—‌

(0.12‌)

—‌

(0.01‌)

—‌

Total

distributions

(0.36‌)

(0.52‌)

(0.26‌)

(0.39‌)

(0.36‌)

NET

ASSET

VALUE

End

of

period

$

14.06‌

$

12.53‌

$

16.86‌

$

12.81‌

$

13.92‌

Ratios/Supplemental

Data

Total

return

(2)(3)

15.12‌%

(23.30‌)%

33.89‌%

(5.43‌)%

10.35‌%

Ratios

to

average

net

assets:

(2)

Gross

expenses

before

waivers/

payments

by

Price

Associates

0.26‌%

0.30‌%

0.40‌%

0.45‌%

0.45‌%

Net

expenses

after

waivers/

payments

by

Price

Associates

0.26‌%

0.30‌%

0.40‌%

0.45‌%

0.45‌%

Net

investment

income

2.93‌%

3.05‌%

2.41‌%

2.03‌%

2.98‌%

Portfolio

turnover

rate

29.2‌%

12.9‌%

22.9‌%

10.5‌%

7.8‌%

Net

assets,

end

of

period

(in

thousands)

$630,134

$546,336

$727,834

$543,578

$589,293

0‌%

0‌%

0‌%

0‌%

0‌%

(1)

Per

share

amounts

calculated

using

average

shares

outstanding

method.

(2)

See

Note

7

for

details

of

expense-related

arrangements

with

Price

Associates.

(3)

Total

return

reflects

the

rate

that

an

investor

would

have

earned

on

an

investment

in

the

fund

during

each

period,

assuming

reinvestment

of

all

distributions,

and

payment

of

no

redemption

or

account

fees,

if

applicable.

T.

ROWE

PRICE

International

Equity

Index

Fund

Financial

Highlights

14

For

a

share

outstanding

throughout

each

period

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Z

Class

(1)

..

Year

..

..

Ended

.

11/2/20

(1)

Through

10/31/21

10/31/23

10/31/22

NET

ASSET

VALUE

Beginning

of

period

$

12.57‌

$

16.92‌

$

13.01‌

Investment

activities

Net

investment

income

(2)(3)

0.47‌

0.53‌

0.45‌

Net

realized

and

unrealized

gain/loss

1.47‌

(4.30‌)

3.73‌

Total

from

investment

activities

1.94‌

(3.77‌)

4.18‌

Distributions

Net

investment

income

(0.41‌)

(0.46‌)

(0.27‌)

Net

realized

gain

—‌

(0.12‌)

—‌

Total

distributions

(0.41‌)

(0.58‌)

(0.27‌)

NET

ASSET

VALUE

End

of

period

$

14.10‌

$

12.57‌

$

16.92‌

Ratios/Supplemental

Data

Total

return

(3)(4)

15.46‌%

(23.05‌)%

32.39‌%

Ratios

to

average

net

assets:

(3)

Gross

expenses

before

waivers/payments

by

Price

Associates

0.15‌%

0.15‌%

0.21‌%

(5)

Net

expenses

after

waivers/payments

by

Price

Associates

0.00‌%

0.00‌%

0.00‌%

(5)

Net

investment

income

3.16‌%

3.82‌%

2.74‌%

(5)

Portfolio

turnover

rate

29.2‌%

12.9‌%

22.9‌%

Net

assets,

end

of

period

(in

thousands)

$112,446

$37,194

$2,207

0‌%

0‌%

0‌%

(1)

Inception

date

(2)

Per

share

amounts

calculated

using

average

shares

outstanding

method.

(3)

See

Note

7

for

details

of

expense-related

arrangements

with

Price

Associates.

(4)

Total

return

reflects

the

rate

that

an

investor

would

have

earned

on

an

investment

in

the

fund

during

each

period,

assuming

reinvestment

of

all

distributions,

and

payment

of

no

redemption

or

account

fees,

if

applicable.

Total

return

is

not

annualized

for

periods

less

than

one

year.

(5)

Annualized

T.

ROWE

PRICE

International

Equity

Index

Fund

October

31,

2023

15

Portfolio

of

Investments

‡

Shares/Par

$

Value

(

Cost

and

value

in

$000s)

‡

ARGENTINA

0.1%

Common

Stocks

0.1%

Tenaris

(EUR) 

23,417‌

371‌

Total

Argentina

(Cost

$391

)

371‌

AUSTRALIA

7.0%

Common

Stocks

7.0%

Ampol 

12,088‌

245‌

ANZ

Group

Holdings 

152,492‌

2,405‌

APA

Group 

63,899‌

335‌

Aristocrat

Leisure 

29,856‌

734‌

ASX 

9,600‌

343‌

Aurizon

Holdings 

93,367‌

203‌

BHP

Group 

191,298‌

5,415‌

BHP

Group

(GBP) 

66,172‌

1,882‌

BlueScope

Steel 

23,377‌

280‌

Brambles 

70,495‌

588‌

Cochlear 

3,332‌

511‌

Coles

Group 

67,912‌

659‌

Commonwealth

Bank

of

Australia 

85,051‌

5,232‌

Computershare 

29,102‌

459‌

CSL 

24,476‌

3,617‌

Dexus 

54,557‌

225‌

Endeavour

Group 

71,052‌

223‌

Fortescue

Metals

Group 

85,927‌

1,222‌

Goodman

Group 

86,029‌

1,138‌

GPT

Group 

97,165‌

224‌

IDP

Education 

12,706‌

176‌

IGO 

34,570‌

209‌

Insurance

Australia

Group 

121,492‌

438‌

James

Hardie

Industries,

CDI  (1)

22,332‌

557‌

Lendlease 

34,965‌

139‌

Lottery

Corp. 

110,377‌

319‌

Macquarie

Group 

18,630‌

1,915‌

Medibank 

139,693‌

305‌

Mineral

Resources 

8,881‌

327‌

Mirvac

Group 

200,149‌

232‌

National

Australia

Bank 

159,303‌

2,854‌

Northern

Star

Resources 

58,363‌

427‌

Orica 

22,521‌

210‌

Origin

Energy 

87,414‌

507‌

Pilbara

Minerals 

133,805‌

314‌

T.

ROWE

PRICE

International

Equity

Index

Fund

16

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Qantas

Airways  (1)

45,157‌

142‌

QBE

Insurance

Group 

75,710‌

751‌

Ramsay

Health

Care 

9,092‌

282‌

REA

Group 

2,621‌

241‌

Reece 

11,468‌

128‌

Rio

Tinto 

19,026‌

1,421‌

Santos 

163,309‌

797‌

Scentre

Group 

263,367‌

408‌

SEEK 

18,075‌

239‌

Sonic

Healthcare 

22,695‌

416‌

South32 

230,640‌

493‌

Stockland 

121,086‌

273‌

Suncorp

Group 

64,266‌

547‌

Telstra

Group 

205,200‌

498‌

Transurban

Group 

156,311‌

1,177‌

Treasury

Wine

Estates 

35,797‌

276‌

Vicinity 

196,272‌

213‌

Washington

H.

Soul

Pattinson 

11,901‌

254‌

Wesfarmers 

57,567‌

1,852‌

Westpac

Banking 

178,055‌

2,338‌

WiseTech

Global 

8,228‌

306‌

Woodside

Energy

Group 

95,308‌

2,076‌

Woolworths

Group 

61,839‌

1,384‌

Xero  (1)

7,297‌

499‌

Total

Australia

(Cost

$48,250

)

51,880‌

AUSTRIA

0.2%

Common

Stocks

0.2%

Erste

Group

Bank 

17,447‌

625‌

OMV 

7,303‌

320‌

Verbund 

3,377‌

293‌

voestalpine 

5,755‌

144‌

Total

Austria

(Cost

$1,416

)

1,382‌

BELGIUM

1.0%

Common

Stocks

1.0%

Ageas 

7,997‌

307‌

Anheuser-Busch

InBev 

44,074‌

2,508‌

Argenx  (1)

2,839‌

1,335‌

D'ieteren

Group 

1,103‌

164‌

Elia

Group 

1,492‌

142‌

Groupe

Bruxelles

Lambert 

4,932‌

361‌

KBC

Group 

12,701‌

699‌

T.

ROWE

PRICE

International

Equity

Index

Fund

17

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Lotus

Bakeries 

21‌

155‌

Sofina 

764‌

145‌

Solvay 

3,761‌

398‌

UCB 

6,415‌

469‌

Umicore 

10,624‌

253‌

Warehouses

De

Pauw 

8,092‌

200‌

Total

Belgium

(Cost

$6,269

)

7,136‌

CHILE

0.0%

Common

Stocks

0.0%

Antofagasta

(GBP) 

19,556‌

320‌

Total

Chile

(Cost

$226

)

320‌

CHINA

0.0%

Common

Stocks

0.0%

Futu

Holdings,

ADR

(USD)  (1)

2,800‌

155‌

Total

China

(Cost

$292

)

155‌

DENMARK

3.3%

Common

Stocks

3.3%

AP

Moller

-

Maersk,

Class

A 

150‌

245‌

AP

Moller

-

Maersk,

Class

B 

253‌

422‌

Carlsberg,

Class

B 

4,997‌

596‌

Chr

Hansen

Holding 

5,231‌

357‌

Coloplast,

Class

B 

6,933‌

723‌

Danske

Bank 

34,999‌

821‌

Demant  (1)

5,113‌

195‌

DSV 

9,445‌

1,411‌

Genmab  (1)

3,351‌

947‌

Novo

Nordisk,

Class

B 

165,588‌

15,975‌

Novozymes,

Class

B 

10,378‌

466‌

Orsted 

9,599‌

464‌

Pandora 

4,499‌

510‌

ROCKWOOL,

Class

B 

474‌

105‌

Tryg 

17,855‌

349‌

Vestas

Wind

Systems  (1)

51,242‌

1,111‌

Total

Denmark

(Cost

$10,004

)

24,697‌

T.

ROWE

PRICE

International

Equity

Index

Fund

18

Shares/Par

$

Value

(Cost

and

value

in

$000s)

EGYPT

0.0%

Common

Stocks

0.0%

OCI

(EUR)  (2)

5,351‌

125‌

Total

Egypt

(Cost

$189

)

125‌

EUROPE/FAR

EAST

0.7%

Equity

Mutual

Funds

0.7%

iShares

Core

MSCI

EAFE,

ETF

(USD)  (2)

77,982‌

4,863‌

Total

Europe/Far

East

(Cost

$5,109

)

4,863‌

FINLAND

0.8%

Common

Stocks

0.8%

Elisa 

7,053‌

299‌

Fortum 

22,756‌

270‌

Kesko,

Class

B 

13,854‌

234‌

Kone,

Class

B 

17,246‌

747‌

Metso 

32,887‌

290‌

Neste 

21,467‌

722‌

Nokia 

213,528‌

711‌

Nokia,

Ordinary

Shares 

57,926‌

192‌

Orion,

Class

B 

5,486‌

218‌

Sampo,

Class

A 

23,335‌

918‌

Stora

Enso,

Class

R 

28,850‌

347‌

UPM-Kymmene 

27,082‌

912‌

Wartsila 

24,012‌

287‌

Total

Finland

(Cost

$7,388

)

6,147‌

FRANCE

11.8%

Common

Stocks

11.8%

Accor 

9,409‌

300‌

Aeroports

de

Paris 

1,506‌

169‌

Air

Liquide 

26,576‌

4,554‌

Airbus 

30,079‌

4,033‌

Alstom 

16,037‌

217‌

Amundi 

3,033‌

158‌

ArcelorMittal 

25,964‌

575‌

Arkema 

3,046‌

285‌

AXA 

93,121‌

2,759‌

BioMerieux 

2,101‌

202‌

T.

ROWE

PRICE

International

Equity

Index

Fund

19

Shares/Par

$

Value

(Cost

and

value

in

$000s)

BNP

Paribas 

53,237‌

3,061‌

Bollore 

44,908‌

245‌

Bouygues 

10,214‌

359‌

Bureau

Veritas 

14,965‌

341‌

Capgemini 

8,367‌

1,479‌

Carrefour 

30,318‌

532‌

Cie

de

Saint-Gobain 

24,238‌

1,319‌

Cie

Generale

des

Etablissements

Michelin 

34,423‌

1,023‌

Covivio 

2,468‌

106‌

Credit

Agricole 

61,415‌

742‌

Danone 

32,672‌

1,944‌

Dassault

Aviation 

1,264‌

251‌

Dassault

Systemes 

33,996‌

1,400‌

Edenred 

12,664‌

674‌

Eiffage 

3,645‌

331‌

Engie 

92,677‌

1,474‌

EssilorLuxottica 

14,960‌

2,709‌

Eurazeo 

2,269‌

128‌

Eurofins

Scientific 

6,691‌

340‌

Euronext 

4,346‌

303‌

Gecina 

2,332‌

229‌

Getlink 

18,134‌

293‌

Hermes

International 

1,607‌

2,998‌

Ipsen 

1,913‌

226‌

Kering 

3,777‌

1,536‌

Klepierre 

10,913‌

265‌

La

Francaise

des

Jeux

SAEM 

5,390‌

174‌

L'Oreal 

12,238‌

5,144‌

Legrand 

13,539‌

1,171‌

LVMH

Moet

Hennessy

Louis

Vuitton 

14,011‌

10,031‌

Orange 

94,482‌

1,111‌

Pernod

Ricard 

10,377‌

1,843‌

Publicis

Groupe 

11,614‌

884‌

Remy

Cointreau 

1,159‌

132‌

Renault 

9,532‌

334‌

Safran 

17,344‌

2,710‌

Sanofi 

57,650‌

5,235‌

Sartorius

Stedim

Biotech 

1,371‌

257‌

Schneider

Electric 

27,613‌

4,248‌

SEB 

1,297‌

128‌

Societe

Generale 

36,909‌

829‌

Sodexo 

4,489‌

475‌

STMicroelectronics 

34,680‌

1,322‌

Teleperformance 

2,932‌

337‌

Thales 

5,333‌

787‌

TotalEnergies 

114,089‌

7,628‌

T.

ROWE

PRICE

International

Equity

Index

Fund

20

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Unibail-Rodamco-Westfield (1)

4,654‌

231‌

Unibail-Rodamco-Westfield,

CDI

(AUD)  (1)

26,273‌

63‌

Valeo 

10,499‌

139‌

Veolia

Environnement 

34,485‌

945‌

Vinci 

26,967‌

2,982‌

Vivendi 

36,362‌

326‌

Wendel 

1,321‌

99‌

Worldline  (1)

12,190‌

155‌

Total

France

(Cost

$66,997

)

87,280‌

GERMANY

8.1%

Common

Stocks

7.6%

adidas 

8,220‌

1,462‌

Allianz 

20,465‌

4,794‌

BASF 

45,355‌

2,096‌

Bayer 

49,849‌

2,154‌

Bayerische

Motoren

Werke 

16,719‌

1,555‌

Bechtle 

4,061‌

181‌

Beiersdorf 

5,115‌

673‌

Brenntag 

7,662‌

570‌

Carl

Zeiss

Meditec 

2,056‌

179‌

Commerzbank 

54,014‌

583‌

Continental 

5,455‌

356‌

Covestro  (1)

9,803‌

497‌

Daimler

Truck

Holding 

25,055‌

787‌

Delivery

Hero  (1)

8,599‌

220‌

Deutsche

Bank 

98,348‌

1,082‌

Deutsche

Boerse 

9,641‌

1,587‌

Deutsche

Lufthansa  (1)

30,320‌

213‌

Deutsche

Post 

50,297‌

1,964‌

Deutsche

Telekom 

164,463‌

3,569‌

E.ON 

113,920‌

1,355‌

Evonik

Industries 

10,637‌

196‌

Fresenius 

21,435‌

551‌

Fresenius

Medical

Care 

10,422‌

346‌

GEA

Group 

7,683‌

263‌

Hannover

Rueck 

2,990‌

660‌

Heidelberg

Materials 

7,348‌

533‌

HelloFresh  (1)(2)

8,298‌

181‌

Henkel 

3,972‌

251‌

Infineon

Technologies 

66,264‌

1,936‌

Knorr-Bremse 

3,679‌

205‌

LEG

Immobilien  (1)

3,675‌

230‌

Mercedes-Benz

Group 

40,714‌

2,395‌

T.

ROWE

PRICE

International

Equity

Index

Fund

21

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Merck 

6,558‌

991‌

MTU

Aero

Engines 

2,731‌

513‌

Munich

Re 

6,930‌

2,781‌

Nemetschek 

2,929‌

219‌

Puma 

5,236‌

297‌

QIAGEN  (1)

11,571‌

431‌

Rational 

254‌

145‌

Rheinmetall 

2,210‌

634‌

RWE 

32,082‌

1,228‌

SAP 

52,986‌

7,107‌

Scout24 

3,804‌

234‌

Siemens 

38,563‌

5,117‌

Siemens

Energy  (1)(2)

25,765‌

229‌

Siemens

Healthineers 

14,309‌

704‌

Symrise 

6,738‌

689‌

Talanx 

3,213‌

202‌

Telefonica

Deutschland

Holding 

45,264‌

77‌

Volkswagen 

1,233‌

143‌

Vonovia 

37,203‌

856‌

Wacker

Chemie  (2)

926‌

114‌

Zalando  (1)

11,109‌

260‌

56,595‌

Preferred

Stocks

0.5%

Bayerische

Motoren

Werke 

2,571‌

219‌

Dr

Ing

hc

F

Porsche 

5,778‌

506‌

Henkel 

9,753‌

703‌

Porsche

Automobil

Holding 

7,594‌

340‌

Sartorius  (2)

1,329‌

333‌

Volkswagen 

10,765‌

1,142‌

3,243‌

Total

Germany

(Cost

$55,305

)

59,838‌

HONG

KONG

2.2%

Common

Stocks

2.2%

AIA

Group 

586,000‌

5,089‌

BOC

Hong

Kong

Holdings 

188,000‌

497‌

Brightoil

Petroleum

Holdings  (1)(3)

109,000‌

—‌

Budweiser

Brewing

APAC 

88,300‌

168‌

CK

Asset

Holdings 

100,300‌

501‌

CK

Hutchison

Holdings 

135,800‌

687‌

CK

Infrastructure

Holdings 

32,500‌

151‌

CLP

Holdings 

83,400‌

610‌

ESR

Cayman  (2)

111,200‌

143‌

T.

ROWE

PRICE

International

Equity

Index

Fund

22

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Galaxy

Entertainment

Group 

111,000‌

624‌

Hang

Lung

Properties 

91,000‌

120‌

Hang

Seng

Bank 

38,800‌

444‌

Henderson

Land

Development 

73,773‌

193‌

HKT

Trust

&

HKT 

194,000‌

201‌

Hong

Kong

&

China

Gas 

555,277‌

387‌

Hong

Kong

Exchanges

&

Clearing 

61,100‌

2,137‌

Hongkong

Land

Holdings

(USD) 

55,000‌

174‌

Jardine

Matheson

Holdings

(USD) 

7,900‌

320‌

Link 

128,300‌

589‌

MTR 

78,500‌

293‌

New

World

Development 

74,625‌

137‌

Power

Assets

Holdings 

68,500‌

327‌

Sands

China  (1)

120,400‌

324‌

Sino

Land 

185,800‌

185‌

SITC

International

Holdings 

69,000‌

106‌

Sun

Hung

Kai

Properties 

73,500‌

755‌

Swire

Pacific,

Class

A 

22,000‌

141‌

Swire

Properties 

61,000‌

118‌

Techtronic

Industries 

70,000‌

639‌

WH

Group 

413,500‌

247‌

Wharf

Real

Estate

Investment 

83,100‌

291‌

Xinyi

Glass

Holdings 

84,000‌

97‌

Total

Hong

Kong

(Cost

$15,990

)

16,695‌

IRELAND

0.5%

Common

Stocks

0.5%

AIB

Group 

73,083‌

317‌

Bank

of

Ireland

Group 

53,072‌

476‌

DCC

(GBP) 

4,897‌

272‌

Flutter

Entertainment  (1)

2,639‌

415‌

Flutter

Entertainment

(GBP)  (1)

6,315‌

993‌

Kerry

Group,

Class

A 

8,084‌

624‌

Kingspan

Group 

7,847‌

528‌

Smurfit

Kappa

Group 

13,200‌

430‌

Total

Ireland

(Cost

$3,627

)

4,055‌

ISRAEL

0.6%

Common

Stocks

0.6%

Azrieli

Group 

2,210‌

95‌

Bank

Hapoalim 

64,462‌

461‌

Bank

Leumi

Le-Israel 

77,882‌

502‌

Check

Point

Software

Technologies

(USD)  (1)

4,800‌

644‌

T.

ROWE

PRICE

International

Equity

Index

Fund

23

Shares/Par

$

Value

(Cost

and

value

in

$000s)

CyberArk

Software

(USD)  (1)

2,100‌

344‌

Elbit

Systems 

1,320‌

246‌

Global-e

Online

(USD)  (1)

4,600‌

161‌

ICL

Group 

39,238‌

191‌

Israel

Discount

Bank,

Class

A 

62,746‌

276‌

Mizrahi

Tefahot

Bank 

7,827‌

242‌

Monday.com

(USD)  (1)

1,069‌

139‌

Nice  (1)

3,210‌

492‌

Teva

Pharmaceutical

Industries,

ADR

(USD)  (1)

56,800‌

487‌

Total

Israel

(Cost

$3,666

)

4,280‌

ITALY

2.6%

Common

Stocks

2.6%

Amplifon 

6,389‌

181‌

Assicurazioni

Generali 

51,428‌

1,022‌

CNH

Industrial 

51,924‌

575‌

Davide

Campari-Milano 

25,922‌

286‌

DiaSorin 

1,249‌

112‌

Enel 

412,697‌

2,620‌

Eni 

119,910‌

1,960‌

Ferrari 

6,396‌

1,936‌

FinecoBank

Banca

Fineco 

30,281‌

357‌

Infrastrutture

Wireless

Italiane 

17,047‌

187‌

Intesa

Sanpaolo 

798,390‌

2,080‌

Mediobanca

Banca

di

Credito

Finanziario 

27,375‌

327‌

Moncler 

10,451‌

543‌

Nexi  (1)

29,939‌

174‌

Poste

Italiane 

26,500‌

262‌

Prysmian 

13,325‌

499‌

Recordati

Industria

Chimica

e

Farmaceutica 

5,304‌

245‌

Snam 

102,321‌

469‌

Stellantis,

Borsa

Italiana

S.P.A 

78,770‌

1,472‌

Stellantis,

Euronext

Paris 

33,483‌

626‌

Telecom

Italia  (1)(2)

494,125‌

128‌

Terna

Rete

Elettrica

Nazionale 

71,393‌

547‌

UniCredit 

93,554‌

2,345‌

Total

Italy

(Cost

$16,736

)

18,953‌

JAPAN

22.4%

Common

Stocks

22.4%

Advantest 

38,800‌

999‌

Aeon 

33,200‌

699‌

AGC 

10,200‌

347‌

T.

ROWE

PRICE

International

Equity

Index

Fund

24

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Aisin 

7,300‌

254‌

Ajinomoto 

22,900‌

836‌

ANA

Holdings  (1)

7,900‌

155‌

Asahi

Group

Holdings 

24,400‌

883‌

Asahi

Intecc 

11,000‌

185‌

Asahi

Kasei 

63,700‌

392‌

Astellas

Pharma 

91,780‌

1,161‌

Azbil 

5,800‌

171‌

Bandai

Namco

Holdings 

30,400‌

630‌

BayCurrent

Consulting 

6,600‌

166‌

Bridgestone 

29,000‌

1,098‌

Brother

Industries 

11,900‌

186‌

Canon 

50,800‌

1,201‌

Capcom 

8,600‌

277‌

Central

Japan

Railway 

36,500‌

822‌

Chiba

Bank 

26,300‌

196‌

Chubu

Electric

Power 

32,700‌

395‌

Chugai

Pharmaceutical 

34,100‌

1,011‌

Concordia

Financial

Group 

53,800‌

250‌

CyberAgent 

22,400‌

118‌

Dai

Nippon

Printing 

10,900‌

284‌

Daifuku 

15,100‌

249‌

Dai-ichi

Life

Holdings 

47,700‌

1,008‌

Daiichi

Sankyo 

93,900‌

2,421‌

Daikin

Industries 

13,400‌

1,932‌

Daito

Trust

Construction 

3,100‌

333‌

Daiwa

House

Industry 

30,100‌

828‌

Daiwa

House

REIT

Investment 

112‌

198‌

Daiwa

Securities

Group 

66,200‌

382‌

Denso 

88,000‌

1,299‌

Dentsu

Group  (2)

10,300‌

299‌

Disco 

4,700‌

830‌

East

Japan

Railway 

15,300‌

795‌

Eisai 

12,800‌

678‌

ENEOS

Holdings 

146,220‌

542‌

FANUC 

48,400‌

1,201‌

Fast

Retailing 

8,900‌

1,970‌

Fuji

Electric 

6,400‌

244‌

FUJIFILM

Holdings 

18,900‌

1,034‌

Fujitsu 

8,900‌

1,153‌

GLP

J-Reit 

237‌

212‌

GMO

Payment

Gateway 

2,200‌

88‌

Hakuhodo

DY

Holdings  (2)

12,200‌

99‌

Hamamatsu

Photonics 

7,000‌

260‌

Hankyu

Hanshin

Holdings 

11,600‌

365‌

Hikari

Tsushin 

1,000‌

144‌

T.

ROWE

PRICE

International

Equity

Index

Fund

25

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Hirose

Electric  (2)

1,518‌

172‌

Hitachi 

47,600‌

3,017‌

Hitachi

Construction

Machinery 

5,300‌

137‌

Honda

Motor 

234,300‌

2,401‌

Hoshizaki  (2)

5,500‌

178‌

Hoya 

18,000‌

1,733‌

Hulic 

19,700‌

181‌

Ibiden 

5,700‌

243‌

Idemitsu

Kosan 

10,552‌

240‌

Iida

Group

Holdings 

8,000‌

124‌

Inpex 

49,300‌

715‌

Isuzu

Motors 

28,900‌

322‌

ITOCHU 

60,300‌

2,172‌

Japan

Airlines 

7,200‌

132‌

Japan

Exchange

Group  (2)

25,500‌

504‌

Japan

Metropolitan

Fund

Invest 

355‌

229‌

Japan

Post

Bank 

73,200‌

678‌

Japan

Post

Holdings 

114,200‌

1,011‌

Japan

Post

Insurance 

10,200‌

196‌

Japan

Real

Estate

Investment 

65‌

241‌

Japan

Tobacco 

60,900‌

1,418‌

JFE

Holdings 

24,375‌

340‌

JSR 

9,000‌

241‌

Kajima 

21,000‌

347‌

Kansai

Electric

Power 

35,700‌

457‌

Kao 

23,600‌

861‌

Kawasaki

Kisen

Kaisha 

7,000‌

240‌

KDDI 

75,900‌

2,271‌

Keio  (2)

5,200‌

154‌

Keisei

Electric

Railway 

6,400‌

241‌

Keyence 

9,856‌

3,815‌

Kikkoman 

6,900‌

393‌

Kintetsu

Group

Holdings 

9,200‌

259‌

Kirin

Holdings 

39,400‌

554‌

Kobayashi

Pharmaceutical 

2,600‌

107‌

Kobe

Bussan 

7,700‌

191‌

Koei

Tecmo

Holdings 

6,080‌

79‌

Koito

Manufacturing 

10,600‌

159‌

Komatsu 

46,900‌

1,078‌

Konami

Holdings 

5,100‌

264‌

Kose 

1,700‌

113‌

Kubota 

51,400‌

691‌

Kurita

Water

Industries 

5,200‌

158‌

Kyocera 

16,300‌

803‌

Kyowa

Kirin 

13,400‌

210‌

Lasertec 

3,800‌

628‌

T.

ROWE

PRICE

International

Equity

Index

Fund

26

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Lixil 

14,700‌

161‌

LY 

132,500‌

338‌

M3 

22,100‌

340‌

Makita 

11,100‌

287‌

Marubeni 

73,600‌

1,076‌

MatsukiyoCocokara 

17,100‌

300‌

Mazda

Motor 

28,800‌

278‌

McDonald's

Holdings

Japan  (2)

4,400‌

171‌

MEIJI

Holdings 

11,880‌

292‌

MINEBEA

MITSUMI 

18,400‌

288‌

MISUMI

Group 

14,400‌

218‌

Mitsubishi 

58,300‌

2,718‌

Mitsubishi

Chemical

Holdings 

65,000‌

368‌

Mitsubishi

Electric 

98,100‌

1,125‌

Mitsubishi

Estate 

57,100‌

731‌

Mitsubishi

HC

Capital 

44,600‌

294‌

Mitsubishi

Heavy

Industries 

16,300‌

840‌

Mitsubishi

UFJ

Financial

Group 

579,390‌

4,861‌

Mitsui 

66,600‌

2,421‌

Mitsui

Chemicals 

8,700‌

219‌

Mitsui

Fudosan 

45,100‌

978‌

Mitsui

OSK

Lines 

17,500‌

452‌

Mizuho

Financial

Group 

122,410‌

2,078‌

MonotaRO 

12,400‌

99‌

MS&AD

Insurance

Group

Holdings 

21,800‌

799‌

Murata

Manufacturing 

87,300‌

1,495‌

NEC 

12,500‌

602‌

Nexon 

19,400‌

356‌

NGK

Insulators 

11,600‌

142‌

NIDEC 

21,144‌

776‌

Nintendo 

52,700‌

2,177‌

Nippon

Building

Fund 

76‌

305‌

NIPPON

EXPRESS

HOLDINGS 

3,700‌

190‌

Nippon

Paint

Holdings 

47,000‌

316‌

Nippon

Prologis

REIT 

112‌

199‌

Nippon

Sanso

Holdings 

8,900‌

224‌

Nippon

Steel 

43,412‌

936‌

Nippon

Telegraph

&

Telephone 

1,516,200‌

1,784‌

Nippon

Yusen

KK 

24,600‌

602‌

Nissan

Chemical 

6,300‌

257‌

Nissan

Motor 

117,800‌

453‌

Nissin

Foods

Holdings 

3,100‌

270‌

Nitori

Holdings 

4,000‌

433‌

Nitto

Denko 

7,400‌

479‌

Nomura

Holdings 

152,500‌

589‌

Nomura

Real

Estate

Holdings 

5,600‌

131‌

T.

ROWE

PRICE

International

Equity

Index

Fund

27

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Nomura

Real

Estate

Master

Fund 

215‌

237‌

Nomura

Research

Institute 

19,581‌

514‌

NTT

Data

Group 

32,000‌

395‌

Obayashi 

32,900‌

282‌

Obic 

3,500‌

517‌

Odakyu

Electric

Railway 

15,900‌

226‌

Oji

Holdings 

43,700‌

187‌

Olympus 

64,200‌

857‌

Omron 

8,700‌

312‌

Ono

Pharmaceutical 

19,700‌

340‌

Open

House

Group 

4,100‌

135‌

Oracle

Corporation

Japan 

1,900‌

135‌

Oriental

Land 

55,400‌

1,792‌

ORIX 

59,500‌

1,082‌

Osaka

Gas 

19,000‌

358‌

Otsuka 

5,800‌

233‌

Otsuka

Holdings 

19,800‌

666‌

Pan

Pacific

International

Holdings 

18,900‌

366‌

Panasonic

Holdings 

112,095‌

983‌

Persol

Holdings 

92,000‌

138‌

Rakuten

Group 

75,800‌

280‌

Recruit

Holdings 

73,100‌

2,096‌

Renesas

Electronics  (1)

64,600‌

849‌

Resona

Holdings 

108,600‌

580‌

Ricoh 

27,800‌

225‌

Rohm 

17,600‌

282‌

SBI

Holdings 

12,440‌

268‌

SCSK 

8,100‌

138‌

Secom 

10,700‌

743‌

Seiko

Epson 

14,600‌

203‌

Sekisui

Chemical 

19,500‌

267‌

Sekisui

House 

30,600‌

599‌

Seven

&

i

Holdings 

38,252‌

1,401‌

SG

Holdings 

16,200‌

230‌

Sharp  (1)(2)

13,200‌

83‌

Shimadzu 

11,700‌

277‌

Shimano  (2)

3,900‌

561‌

Shimizu 

27,400‌

195‌

Shin-Etsu

Chemical 

92,400‌

2,763‌

Shionogi 

13,300‌

619‌

Shiseido 

20,300‌

644‌

Shizuoka

Financial

Group 

23,800‌

202‌

SMC 

2,900‌

1,339‌

SoftBank 

145,800‌

1,649‌

SoftBank

Group 

52,200‌

2,138‌

Sompo

Holdings 

15,500‌

671‌

T.

ROWE

PRICE

International

Equity

Index

Fund

28

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Sony

Group 

64,000‌

5,321‌

Square

Enix

Holdings 

4,400‌

146‌

Subaru 

31,200‌

540‌

SUMCO 

17,800‌

230‌

Sumitomo 

53,100‌

1,044‌

Sumitomo

Chemical 

71,400‌

181‌

Sumitomo

Electric

Industries 

36,300‌

381‌

Sumitomo

Metal

Mining 

12,500‌

351‌

Sumitomo

Mitsui

Financial

Group 

64,500‌

3,109‌

Sumitomo

Mitsui

Trust

Holdings 

16,412‌

615‌

Sumitomo

Realty

&

Development 

14,200‌

356‌

Suntory

Beverage

&

Food 

7,100‌

214‌

Suzuki

Motor 

18,700‌

726‌

Sysmex 

8,500‌

407‌

T&D

Holdings 

25,400‌

453‌

Taisei 

8,600‌

292‌

Takeda

Pharmaceutical 

80,298‌

2,180‌

TDK 

19,700‌

737‌

Terumo 

34,100‌

933‌

TIS 

11,200‌

240‌

Tobu

Railway 

9,600‌

231‌

Toho 

5,700‌

195‌

Tokio

Marine

Holdings 

91,400‌

2,045‌

Tokyo

Electric

Power

Holdings  (1)

77,400‌

328‌

Tokyo

Electron 

23,900‌

3,158‌

Tokyo

Gas 

19,900‌

447‌

Tokyu 

26,900‌

304‌

TOPPAN

Holdings 

12,400‌

286‌

Toray

Industries 

68,800‌

333‌

Toshiba  (1)

20,900‌

635‌

Tosoh 

12,900‌

158‌

TOTO 

6,700‌

162‌

Toyota

Industries 

7,400‌

548‌

Toyota

Motor 

538,090‌

9,413‌

Toyota

Tsusho 

10,800‌

575‌

Trend

Micro  (2)

6,800‌

256‌

Unicharm 

20,500‌

697‌

USS 

10,500‌

184‌

Welcia

Holdings 

4,800‌

80‌

West

Japan

Railway 

11,100‌

423‌

Yakult

Honsha 

13,000‌

306‌

Yamaha 

7,100‌

190‌

Yamaha

Motor 

14,800‌

362‌

Yamato

Holdings 

14,400‌

240‌

Yaskawa

Electric 

12,200‌

399‌

Yokogawa

Electric 

11,600‌

211‌

T.

ROWE

PRICE

International

Equity

Index

Fund

29

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Zensho

Holdings 

4,900‌

258‌

ZOZO 

7,100‌

135‌

Total

Japan

(Cost

$128,793

)

166,498‌

NETHERLANDS

4.3%

Common

Stocks

4.3%

ABN

AMRO

Bank,

CVA 

20,487‌

276‌

Adyen  (1)

1,101‌

743‌

Aegon 

85,628‌

416‌

AerCap

Holdings

(USD)  (1)

8,900‌

553‌

Akzo

Nobel 

8,656‌

581‌

ASM

International 

2,383‌

983‌

ASML

Holding 

20,456‌

12,297‌

ASR

Nederland 

8,445‌

315‌

BE

Semiconductor

Industries 

4,048‌

418‌

Coca-Cola

Europacific

Partners

(USD) 

10,500‌

614‌

DSM-Firmenich 

9,437‌

856‌

EQT

(SEK)  (2)

17,635‌

322‌

EXOR 

5,503‌

472‌

Heineken 

15,253‌

1,370‌

Heineken

Holding 

5,819‌

443‌

IMCD 

2,826‌

340‌

ING

Groep 

183,659‌

2,355‌

JDE

Peet's 

6,375‌

177‌

Koninklijke

Ahold

Delhaize 

49,283‌

1,459‌

Koninklijke

KPN 

163,887‌

551‌

Koninklijke

Philips  (1)

47,121‌

896‌

NN

Group 

12,723‌

408‌

Prosus  (1)

76,826‌

2,154‌

Randstad 

5,599‌

290‌

Universal

Music

Group 

41,574‌

1,018‌

Wolters

Kluwer 

13,067‌

1,677‌

Total

Netherlands

(Cost

$23,875

)

31,984‌

NEW

ZEALAND

0.2%

Common

Stocks

0.2%

Auckland

International

Airport 

63,501‌

272‌

EBOS

Group 

7,775‌

159‌

Fisher

&

Paykel

Healthcare 

28,731‌

348‌

Mercury

NZ 

36,089‌

124‌

Meridian

Energy 

65,514‌

184‌

T.

ROWE

PRICE

International

Equity

Index

Fund

30

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Spark

New

Zealand 

94,923‌

276‌

Total

New

Zealand

(Cost

$1,116

)

1,363‌

NORWAY

0.7%

Common

Stocks

0.7%

Adevinta  (1)

15,176‌

133‌

Aker

BP 

16,035‌

462‌

DNB

Bank 

46,965‌

847‌

Equinor 

47,242‌

1,584‌

Gjensidige

Forsikring 

9,918‌

149‌

Kongsberg

Gruppen 

4,549‌

186‌

Mowi 

21,797‌

354‌

Norsk

Hydro 

66,691‌

380‌

Orkla 

38,097‌

263‌

Salmar 

3,681‌

174‌

Telenor 

34,700‌

355‌

Yara

International 

8,398‌

275‌

Total

Norway

(Cost

$4,657

)

5,162‌

PORTUGAL

0.2%

Common

Stocks

0.2%

Banco

Espirito

Santo  (1)(3)

127,132‌

—‌

EDP

-

Energias

de

Portugal 

159,227‌

669‌

EDP

Renovaveis 

15,587‌

250‌

Galp

Energia 

24,960‌

376‌

Jeronimo

Martins 

14,043‌

324‌

Total

Portugal

(Cost

$1,774

)

1,619‌

RUSSIAN

FEDERATION

0.0%

Common

Stocks

0.0%

Evraz

(GBP)  (1)(3)

21,218‌

—‌

Total

Russian

Federation

(Cost

$137

)

—‌

SINGAPORE

1.4%

Common

Stocks

1.4%

CapitaLand

Ascendas

Trust 

189,397‌

360‌

CapitaLand

Integrated

Commercial

Trust 

263,768‌

339‌

CapitaLand

Investment 

132,000‌

284‌

City

Developments 

25,400‌

117‌

DBS

Group

Holdings 

91,900‌

2,208‌

T.

ROWE

PRICE

International

Equity

Index

Fund

31

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Genting

Singapore 

309,000‌

194‌

Grab

Holdings,

Class

A

(USD)  (1)

94,800‌

291‌

Jardine

Cycle

&

Carriage 

5,100‌

105‌

Keppel 

72,200‌

328‌

Keppel

REIT 

14,440‌

9‌

Mapletree

Logistics

Trust 

175,300‌

188‌

Mapletree

Pan

Asia

Commercial

Trust 

120,412‌

117‌

Oversea-Chinese

Banking 

171,825‌

1,593‌

Sea,

ADR

(USD)  (1)

18,500‌

772‌

Seatrium  (1)

2,250,599‌

184‌

Sembcorp

Industries 

45,400‌

152‌

Singapore

Airlines 

75,532‌

337‌

Singapore

Exchange 

43,500‌

301‌

Singapore

Technologies

Engineering 

79,800‌

219‌

Singapore

Telecommunications 

418,950‌

728‌

United

Overseas

Bank 

64,120‌

1,265‌

UOL

Group 

24,152‌

104‌

Wilmar

International 

97,400‌

253‌

Total

Singapore

(Cost

$10,720

)

10,448‌

SPAIN

2.5%

Common

Stocks

2.5%

Acciona 

1,224‌

154‌

Acciona

Energias

Renovables 

3,429‌

93‌

ACS

Actividades

de

Construccion

y

Servicios 

10,863‌

393‌

Aena 

3,806‌

552‌

Amadeus

IT

Group 

22,859‌

1,305‌

Banco

Bilbao

Vizcaya

Argentaria  (2)

302,696‌

2,381‌

Banco

Santander  (2)

821,205‌

3,020‌

CaixaBank 

209,367‌

851‌

Cellnex

Telecom 

28,678‌

843‌

Enagas 

12,625‌

211‌

Endesa 

16,111‌

303‌

Ferrovial 

25,838‌

778‌

Grifols  (1)

15,130‌

170‌

Iberdrola

-

Interim 

308,924‌

3,436‌

Industria

de

Diseno

Textil  (2)

55,350‌

1,911‌

Naturgy

Energy

Group  (2)

6,394‌

181‌

Redeia 

20,124‌

314‌

Repsol 

65,826‌

964‌

Telefonica 

262,607‌

1,014‌

Total

Spain

(Cost

$19,984

)

18,874‌

T.

ROWE

PRICE

International

Equity

Index

Fund

32

Shares/Par

$

Value

(Cost

and

value

in

$000s)

SWEDEN

2.9%

Common

Stocks

2.9%

Alfa

Laval 

14,681‌

476‌

Assa

Abloy,

Class

B 

50,858‌

1,084‌

Atlas

Copco,

Class

A 

135,981‌

1,761‌

Atlas

Copco,

Class

B 

79,564‌

894‌

Beijer

Ref  (2)

19,524‌

186‌

Boliden 

13,563‌

348‌

Epiroc,

Class

A 

40,588‌

669‌

Epiroc,

Class

B 

11,324‌

157‌

Essity,

Class

B 

30,908‌

705‌

Evolution

Gaming

Group 

9,299‌

829‌

Fastighets

Balder,

Class

B  (1)(2)

32,376‌

138‌

Getinge,

Class

B 

11,602‌

209‌

H

&

M

Hennes

&

Mauritz,

Class

B  (2)

32,596‌

438‌

Hexagon,

Class

B 

105,348‌

858‌

Holmen,

Class

B 

4,652‌

176‌

Husqvarna,

Class

B  (2)

21,284‌

138‌

Industrivarden,

Class

A 

968‌

25‌

Industrivarden,

Class

C  (2)

13,177‌

340‌

Indutrade 

13,860‌

246‌

Investment

AB

Latour,

Class

B  (2)

7,710‌

133‌

Investor,

Class

B 

87,825‌

1,612‌

L

E

Lundbergforetagen,

Class

B 

3,769‌

154‌

Lifco,

Class

B 

11,824‌

216‌

Nibe

Industrier,

Class

B 

76,898‌

443‌

Nordea

Bank 

163,460‌

1,722‌

Saab,

Class

B 

4,062‌

209‌

Sagax,

Class

B 

9,675‌

175‌

Sandvik 

54,102‌

921‌

Securitas,

Class

B  (2)

25,140‌

201‌

Skandinaviska

Enskilda

Banken,

Class

A 

80,134‌

894‌

Skanska,

Class

B 

17,258‌

259‌

SKF,

Class

B 

17,284‌

280‌

Svenska

Cellulosa,

Class

B 

30,045‌

412‌

Svenska

Handelsbanken,

Class

A 

74,010‌

631‌

Swedbank,

Class

A 

43,080‌

707‌

Swedish

Orphan

Biovitrum  (1)

9,877‌

203‌

Tele2,

Class

B 

27,098‌

192‌

Telefonaktiebolaget

LM

Ericsson,

Class

B 

148,585‌

666‌

Telia 

124,465‌

264‌

Volvo,

Class

A 

10,706‌

215‌

Volvo,

Class

B 

76,021‌

1,506‌

T.

ROWE

PRICE

International

Equity

Index

Fund

33

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Volvo

Car,

Class

B  (1)(2)

31,032‌

107‌

Total

Sweden

(Cost

$20,096

)

21,799‌

SWITZERLAND

9.6%

Common

Stocks

9.6%

ABB 

81,171‌

2,727‌

Adecco

Group  (2)

7,935‌

300‌

Alcon 

25,355‌

1,815‌

Bachem

Holding  (2)

1,703‌

124‌

Baloise

Holding 

2,271‌

326‌

Banque

Cantonale

Vaudoise  (2)

1,494‌

169‌

Barry

Callebaut 

181‌

274‌

BKW 

1,079‌

181‌

Chocoladefabriken

Lindt

&

Spruengli 

63‌

698‌

Chocoladefabriken

Lindt

&

Spruengli,

Registered

Shares 

4‌

436‌

Cie

Financiere

Richemont 

26,487‌

3,125‌

Clariant 

10,700‌

152‌

Dufry  (1)

5,000‌

175‌

EMS-Chemie

Holding 

349‌

239‌

Geberit 

1,690‌

787‌

Givaudan 

469‌

1,561‌

Helvetia

Holding 

1,883‌

253‌

Holcim 

26,447‌

1,635‌

Julius

Baer

Group 

10,602‌

628‌

Kuehne

+

Nagel

International 

2,757‌

744‌

Logitech

International 

8,344‌

657‌

Lonza

Group 

3,779‌

1,323‌

Nestle 

135,479‌

14,610‌

Novartis 

104,006‌

9,737‌

Partners

Group

Holding 

1,152‌

1,220‌

Roche

Holding 

1,819‌

496‌

Roche

Holding,

Genusschein 

35,439‌

9,133‌

Sandoz

Group  (1)

20,801‌

541‌

Schindler

Holding 

2,387‌

483‌

Schindler

Holding,

Registered

Shares 

856‌

167‌

SGS 

7,606‌

621‌

SIG

Group 

15,166‌

334‌

Sika 

7,426‌

1,777‌

Sonova

Holding 

2,638‌

625‌

Straumann

Holding 

5,664‌

669‌

Swatch

Group 

1,511‌

387‌

Swatch

Group,

Registered

Shares 

2,446‌

119‌

Swiss

Life

Holding 

1,529‌

982‌

Swiss

Prime

Site 

3,804‌

354‌

T.

ROWE

PRICE

International

Equity

Index

Fund

34

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Swiss

Re 

15,305‌

1,672‌

Swisscom 

1,314‌

787‌

Temenos 

3,235‌

233‌

UBS

Group 

166,887‌

3,921‌

VAT

Group 

1,370‌

486‌

Zurich

Insurance

Group 

7,635‌

3,627‌

Total

Switzerland

(Cost

$49,785

)

71,310‌

UNITED

ARAB

EMIRATES

0.0%

Common

Stocks

0.0%

NMC

Health

(GBP)  (1)(3)

3,218‌

—‌

Total

United

Arab

Emirates

(Cost

$125

)

—‌

UNITED

KINGDOM

14.8%

Common

Stocks

14.8%

3i

Group 

49,388‌

1,164‌

abrdn 

101,543‌

194‌

Admiral

Group 

10,767‌

320‌

Anglo

American 

64,477‌

1,643‌

Ashtead

Group 

22,235‌

1,275‌

Associated

British

Foods 

17,400‌

429‌

AstraZeneca 

78,643‌

9,846‌

Auto

Trader

Group 

45,554‌

345‌

Aviva 

138,137‌

669‌

BAE

Systems 

154,677‌

2,080‌

Barclays 

789,320‌

1,267‌

Barratt

Developments 

49,922‌

252‌

Berkeley

Group

Holdings 

5,463‌

269‌

BP 

880,453‌

5,376‌

British

American

Tobacco 

107,802‌

3,220‌

BT

Group 

344,769‌

474‌

Bunzl 

17,148‌

612‌

Burberry

Group 

19,138‌

394‌

Centrica 

281,979‌

540‌

Coca-Cola

HBC 

11,172‌

290‌

Compass

Group 

87,964‌

2,218‌

CRH 

36,624‌

1,965‌

CRH

(USD) 

195‌

10‌

Croda

International 

7,085‌

378‌

Diageo 

114,017‌

4,312‌

Endeavour

Mining 

9,416‌

194‌

Entain 

32,410‌

368‌

Experian 

46,683‌

1,416‌

T.

ROWE

PRICE

International

Equity

Index

Fund

35

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Glencore 

534,430‌

2,831‌

GSK 

207,786‌

3,704‌

Haleon 

281,145‌

1,127‌

Halma 

19,264‌

433‌

Hargreaves

Lansdown 

17,641‌

152‌

Hikma

Pharmaceuticals 

8,475‌

196‌

HSBC

Holdings 

1,003,035‌

7,242‌

Imperial

Brands 

43,535‌

927‌

Informa 

71,017‌

615‌

InterContinental

Hotels

Group 

8,598‌

609‌

Intertek

Group 

8,189‌

381‌

J

Sainsbury 

81,787‌

256‌

JD

Sports

Fashion 

131,454‌

204‌

Johnson

Matthey 

9,413‌

171‌

Kingfisher 

98,343‌

251‌

Land

Securities

Group 

34,935‌

242‌

Legal

&

General

Group 

303,322‌

781‌

Lloyds

Banking

Group 

3,277,576‌

1,595‌

London

Stock

Exchange

Group 

21,547‌

2,174‌

M&G 

113,739‌

275‌

Melrose

Industries 

70,002‌

399‌

Mondi 

24,638‌

399‌

National

Grid 

186,833‌

2,228‌

NatWest

Group 

294,919‌

642‌

Next 

6,055‌

508‌

Ocado

Group  (1)

29,345‌

167‌

Pearson 

31,962‌

370‌

Persimmon 

16,201‌

201‌

Phoenix

Group

Holdings 

38,060‌

210‌

Prudential 

139,702‌

1,461‌

Reckitt

Benckiser

Group 

36,407‌

2,436‌

RELX 

96,088‌

3,356‌

Rentokil

Initial 

127,870‌

651‌

RioTinto 

56,904‌

3,630‌

Rolls-Royce

Holdings  (1)

427,074‌

1,124‌

Sage

Group 

52,013‌

614‌

Schroders 

40,885‌

184‌

Segro 

59,973‌

521‌

Severn

Trent 

12,800‌

414‌

Shell 

340,188‌

10,963‌

Smith

&

Nephew 

44,317‌

496‌

Smiths

Group 

17,467‌

343‌

Spirax-Sarco

Engineering 

3,743‌

374‌

SSE 

55,326‌

1,100‌

St.

James's

Place 

27,802‌

217‌

Standard

Chartered 

119,361‌

915‌

T.

ROWE

PRICE

International

Equity

Index

Fund

36

Shares/Par

$

Value

(Cost

and

value

in

$000s)

Taylor

Wimpey 

175,152‌

237‌

Tesco 

362,918‌

1,191‌

Unilever 

127,616‌

6,044‌

United

Utilities

Group 

33,815‌

437‌

Vodafone

Group 

1,166,798‌

1,074‌

Whitbread 

10,022‌

406‌

Wise,

Class

A  (1)

30,488‌

248‌

WPP 

54,539‌

470‌

Total

United

Kingdom

(Cost

$108,511

)

109,716‌

UNITED

STATES

0.1%

Common

Stocks

0.1%

Newmont,

CDI

(AUD)  (1)

18,150‌

695‌

Wix.com  (1)

2,700‌

216‌

Total

United

States

(Cost

$1,283

)

911‌

SHORT-TERM

INVESTMENTS

1.5%

Money

Market

Funds

1.3%

T.

Rowe

Price

Government

Reserve

Fund,

5.42%  (4)(5)

9,844,372‌

9,844‌

9,844‌

U.S.

Treasury

Obligations

0.2%

U.S.

Treasury

Bills,

5.308%,

12/14/23  (6)

1,190,000‌

1,183‌

1,183‌

Total

Short-Term

Investments

(Cost

$11,027)

11,027‌

SECURITIES

LENDING

COLLATERAL

2.0%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

JPMORGAN

CHASE

BANK

2.0%

Money

Market

Funds

2.0%

T.

Rowe

Price

Government

Reserve

Fund,

5.42%  (4)(5)

15,054,001‌

15,054‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

JPMorgan

Chase

Bank

15,054‌

Total

Securities

Lending

Collateral

(Cost

$15,054)

15,054‌

Total

Investments

in

Securities

101.5%

of

Net

Assets

(Cost

$638,792)

$

753,942‌

T.

ROWE

PRICE

International

Equity

Index

Fund

37

‡

Country

classifications

are

generally

based

on

MSCI

categories

or

another

unaffiliated

third

party

data

provider;

Shares/Par

and

Notional

Amount

are

denominated

in

the

currency

of

the

country

presented

unless

otherwise

noted.

(1)

Non-income

producing

(2)

See

Note

4

.

All

or

a

portion

of

this

security

is

on

loan

at

October

31,

2023.

(3)

See

Note

2.

Level

3

in

fair

value

hierarchy.

(4)

Seven-day

yield

(5)

Affiliated

Companies

(6)

At

October

31,

2023,

all

or

a

portion

of

this

security

is

pledged

as

collateral

and/

or

margin

deposit

to

cover

future

funding

obligations.

ADR

American

Depositary

Receipts

AUD

Australian

Dollar

CDI

CHESS

or

CREST

Depositary

Interest

CVA

Dutch

Certificate

(Certificaten

Van

Aandelen)

ETF

Exchange-Traded

Fund

EUR

Euro

GBP

British

Pound

SEK

Swedish

Krona

USD

U.S.

Dollar

T.

ROWE

PRICE

International

Equity

Index

Fund

38

FUTURES

CONTRACTS

($000s)

Expiration

Date

Notional

Amount

Value

and

Unrealized

Gain

(Loss)

Long,

148

MSCI

EAFE

Index

contracts

12/23

14,608

$

(791‌)

Net

payments

(receipts)

of

variation

margin

to

date

835‌

Variation

margin

receivable

(payable)

on

open

futures

contracts

$

44‌

T.

ROWE

PRICE

International

Equity

Index

Fund

39

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

AFFILIATED

COMPANIES

($000s)

The

fund

may

invest

in

certain

securities

that

are

considered

affiliated

companies.

As

defined

by

the

1940

Act,

an

affiliated

company

is

one

in

which

the

fund

owns

5%

or

more

of

the

outstanding

voting

securities,

or

a

company

that

is

under

common

ownership

or

control.

The

following

securities

were

considered

affiliated

companies

for

all

or

some

portion

of

the

year

ended

October

31,

2023.

Net

realized

gain

(loss),

investment

income,

change

in

net

unrealized

gain/loss,

and

purchase

and

sales

cost

reflect

all

activity

for

the

period

then

ended.

Affiliate

Net

Realized

Gain

(Loss)

Change

in

Net

Unrealized

Gain/Loss

Investment

Income

T.

Rowe

Price

Government

Reserve

Fund,

5.42%

$

—‌

$

—‌

$

299‌++

Totals

$

—‌#

$

—‌

$

299‌+

Supplementary

Investment

Schedule

Affiliate

Value

10/31/22

Purchase

Cost

Sales

Cost

Value

10/31/23

T.

Rowe

Price

Government

Reserve

Fund,

5.42%

$

14,448‌

 ¤

  ¤

$

24,898‌

Total

$

24,898‌^

#

Capital

gain

distributions

from

underlying

Price

funds

represented

$0

of

the

net

realized

gain

(loss).

++

Excludes

earnings

on

securities

lending

collateral,

which

are

subject

to

rebates

and

fees

as

described

in

Note

4

.

+

Investment

income

comprised

$299

of

dividend

income

and

$0

of

interest

income.

¤

Purchase

and

sale

information

not

shown

for

cash

management

funds.

^

The

cost

basis

of

investments

in

affiliated

companies

was

$24,898.

T.

ROWE

PRICE

International

Equity

Index

Fund

October

31,

2023

Statement

of

Assets

and

Liabilities

40

($000s,

except

shares

and

per

share

amounts)

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Assets

Investments

in

securities,

at

value

(cost

$638,792)

$

753,942‌

Dividends

receivable

1,702‌

Receivable

for

shares

sold

359‌

Foreign

currency

(cost

$162)

161‌

Variation

margin

receivable

on

futures

contracts

44‌

Other

assets

2,122‌

Total

assets

758,330‌

Liabilities

Obligation

to

return

securities

lending

collateral

15,054‌

Payable

for

shares

redeemed

470‌

Investment

management

fees

payable

58‌

Due

to

affiliates

43‌

Other

liabilities

125‌

Total

liabilities

15,750‌

NET

ASSETS

$

742,580‌

Net

Assets

Consist

of:

Total

distributable

earnings

(loss)

$

86,064‌

Paid-in

capital

applicable

to

52,786,572

shares

of

$0.01

par

value

capital

stock

outstanding;

1,000,000,000

shares

of

the

Corporation

authorized

656,516‌

NET

ASSETS

$

742,580‌

NET

ASSET

VALUE

PER

SHARE

Investor

Class

(Net

assets:

$630,134;

Shares

outstanding:

44,809,655)

$

14.06‌

Z

Class

(Net

assets:

$112,446;

Shares

outstanding:

7,976,917)

$

14.10‌

T.

ROWE

PRICE

International

Equity

Index

Fund

Statement

of

Operations

41

($000s)

Year

Ended

10/31/23

Investment

Income

(Loss)

Income

Dividend

(net

of

foreign

taxes

of

$2,307)

$

24,357‌

Securities

lending

101‌

    Interest

32‌

Other

2‌

Total

income

24,492‌

Expenses

Investment

management

690‌

Shareholder

servicing

Investor

Class

769‌

Prospectus

and

shareholder

reports

Investor

Class

$

28‌

Z

Class

1‌

29‌

Custody

and

accounting

326‌

Registration

43‌

Legal

and

audit

43‌

Proxy

and

annual

meeting

14‌

Directors

3‌

Miscellaneous

19‌

Waived

/

paid

by

Price

Associates

(116‌)

Total

expenses

1,820‌

Net

investment

income

22,672‌

T.

ROWE

PRICE

International

Equity

Index

Fund

Statement

of

Operations

42

($000s)

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Year

Ended

10/31/23

Realized

and

Unrealized

Gain

/

Loss

–

Net

realized

gain

(loss)

Securities

(27,739‌)

Futures

835‌

Foreign

currency

transactions

(60‌)

Net

realized

loss

(26,964‌)

Change

in

net

unrealized

gain

/

loss

Securities

92,147‌

Futures

(669‌)

Other

assets

and

liabilities

denominated

in

foreign

currencies

138‌

Change

in

net

unrealized

gain

/

loss

91,616‌

Net

realized

and

unrealized

gain

/

loss

64,652‌

INCREASE

IN

NET

ASSETS

FROM

OPERATIONS

$

87,324‌

T.

ROWE

PRICE

International

Equity

Index

Fund

Statement

of

Changes

in

Net

Assets

43

($000s)

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Year

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

Ended

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

10/31/23

10/31/22

Increase

(Decrease)

in

Net

Assets

Operations

Net

investment

income

$

22,672‌

$

20,484‌

Net

realized

loss

(26,964‌)

(10,353‌)

Change

in

net

unrealized

gain

/

loss

91,616‌

(186,787‌)

Increase

(decrease)

in

net

assets

from

operations

87,324‌

(176,656‌)

Distributions

to

shareholders

Net

earnings

Investor

Class

(15,734‌)

(22,453‌)

Z

Class

(1,357‌)

(111‌)

Decrease

in

net

assets

from

distributions

(17,091‌)

(22,564‌)

Capital

share

transactions

*

Shares

sold

Investor

Class

201,756‌

97,112‌

Z

Class

86,099‌

51,330‌

Distributions

reinvested

Investor

Class

14,854‌

21,005‌

Z

Class

1,357‌

112‌

Shares

redeemed

Investor

Class

(201,780‌)

(107,644‌)

Z

Class

(13,469‌)

(9,206‌)

Increase

in

net

assets

from

capital

share

transactions

88,817‌

52,709‌

Net

Assets

Increase

(decrease)

during

period

159,050‌

(146,511‌)

Beginning

of

period

583,530‌

730,041‌

End

of

period

$

742,580‌

$

583,530‌

*Share

information

(000s)

Shares

sold

Investor

Class

13,704‌

6,642‌

Z

Class

5,842‌

3,487‌

Distributions

reinvested

Investor

Class

1,059‌

1,308‌

Z

Class

97‌

7‌

Shares

redeemed

Investor

Class

(13,566‌)

(7,506‌)

Z

Class

(922‌)

(664‌)

Increase

in

shares

outstanding

6,214‌

3,274‌

T.

ROWE

PRICE

International

Equity

Index

Fund

NOTES

TO

FINANCIAL

STATEMENTS

44

T.

Rowe

Price

International

Index

Fund,

Inc.

(the

corporation) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act).

The

International

Equity

Index

Fund

(the

fund)

is

an

open-end

management

investment

company

established

by

the

corporation

and

intends

to

be

diversified

in

approximately

the

same

proportion

as

the

index

it

tracks

is

diversified.

The

fund

may

become

nondiversified

for

periods

of

time

solely

as

a

result

of

changes

in

the

composition

of

the

index

(for

example,

changes

in

the

relative

market

capitalization

or

index

weighting

of

one

or

more

securities

represented

in

the

index). The

fund

seeks

to

provide

long-term

capital

growth.

The

fund

has

two classes

of

shares:

the

International

Equity

Index

Fund

(Investor

Class)

and

the

International

Equity

Index

Fund–Z

Class

(Z

Class).

The

Z

Class

is

only

available

to

funds

advised

by

T.

Rowe

Price

Associates,

Inc.

and

its

affiliates

and

other

clients

that

are

subject

to

a

contractual

fee

for

investment

management

services.

Each

class

has

exclusive

voting

rights

on

matters

related

solely

to

that

class;

separate

voting

rights

on

matters

that

relate

to

both classes;

and,

in

all

other

respects,

the

same

rights

and

obligations

as

the

other

class.

NOTE

1

-

SIGNIFICANT

ACCOUNTING

POLICIES 

Basis

of

Preparation

 The fund

is

an

investment

company

and

follows

accounting

and

reporting

guidance

in

the

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946

(ASC

946).

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(GAAP),

including,

but

not

limited

to,

ASC

946.

GAAP

requires

the

use

of

estimates

made

by

management.

Management

believes

that

estimates

and

valuations

are

appropriate;

however,

actual

results

may

differ

from

those

estimates,

and

the

valuations

reflected

in

the

accompanying

financial

statements

may

differ

from

the

value

ultimately

realized

upon

sale

or

maturity.

Investment

Transactions,

Investment

Income,

and

Distributions

 Investment

transactions

are

accounted

for

on

the

trade

date

basis.

Income

and

expenses

are

recorded

on

the

accrual

basis.

Realized

gains

and

losses

are

reported

on

the

identified

cost

basis. Premiums

and

discounts

on

debt

securities

are

amortized

for

financial

reporting

purposes. Income

tax-related

interest

and

penalties,

if

incurred,

are

recorded

as

income

tax

expense. Dividends

received

from other

investment

companies are

reflected

as

dividend

income;

capital

gain

distributions

are

reflected

as

realized

gain/

loss. Dividend

income and

capital

gain

distributions

are

recorded

on

the

ex-dividend

date. Non-cash

dividends,

if

any,

are

recorded

at

the

fair

market

value

of

the

asset

T.

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International

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received. Proceeds

from

litigation

payments,

if

any,

are

included

in

either

net

realized

gain

(loss)

or

change

in

net

unrealized

gain/loss

from

securities. Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date. Income

distributions,

if

any,

are

declared

and

paid

by

each

class annually. A

capital

gain

distribution,

if

any, may

also

be

declared

and

paid

by

the

fund

annually.

Currency

Translation

 Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollar

values

each

day

at

the

prevailing

exchange

rate,

using

the

mean

of

the

bid

and

asked

prices

of

such

currencies

against

U.S.

dollars

as

provided

by

an

outside

pricing

service.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

date

of

such

transaction.

The

effect

of

changes

in

foreign

currency

exchange

rates

on

realized

and

unrealized

security

gains

and

losses

is

not

bifurcated

from

the

portion

attributable

to

changes

in

market

prices.

Class

Accounting

 Shareholder

servicing,

prospectus,

and

shareholder

report

expenses

incurred

by

each

class

are

charged

directly

to

the

class

to

which

they

relate.

Expenses

common

to

all

classes,

investment

income,

and

realized

and

unrealized

gains

and

losses

are

allocated

to

the

classes

based

upon

the

relative

daily

net

assets

of

each

class.

Capital

Transactions

 Each

investor’s

interest

in

the

net

assets

of the

fund

is

represented

by

fund

shares. The

fund’s

net

asset

value

(NAV)

per

share

is

computed

at

the

close

of

the

New

York

Stock

Exchange

(NYSE),

normally

4

p.m.

ET,

each

day

the

NYSE

is

open

for

business.

However,

the

NAV

per

share

may

be

calculated

at

a

time

other

than

the

normal

close

of

the

NYSE

if

trading

on

the

NYSE

is

restricted,

if

the

NYSE

closes

earlier,

or

as

may

be

permitted

by

the

SEC.

Purchases

and

redemptions

of

fund

shares

are

transacted

at

the

next-computed

NAV

per

share,

after

receipt

of

the

transaction

order

by

T.

Rowe

Price

Associates,

Inc.,

or

its

agents.

New

Accounting

Guidance

 In

June

2022,

the

FASB

issued

Accounting

Standards

Update

(ASU),

ASU

2022-03,

Fair

Value

Measurement

(Topic

820)

–

Fair

Value

Measurement

of

Equity

Securities

Subject

to

Contractual

Sale

Restrictions,

which

clarifies

that

a

contractual

restriction

on

the

sale

of

an

equity

security

is

not

considered

part

of

the

unit

of

account

of

the

equity

security

and,

therefore,

is

not

considered

in

measuring

fair

value.

The

amendments

under

this

ASU

are

effective

for

fiscal

years

beginning

after

December

15,

2023;

however,

the

fund

opted

to

early

adopt,

as

permitted,

effective

December

1,

2022. Adoption

of

the

guidance

did not

have

a

material

impact

on

the fund's

financial statements.

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Indemnification

 In

the

normal

course

of

business, the

fund

may

provide

indemnification

in

connection

with

its

officers

and

directors,

service

providers,

and/or

private

company

investments. The

fund’s

maximum

exposure

under

these

arrangements

is

unknown;

however,

the

risk

of

material

loss

is

currently

considered

to

be

remote.

NOTE

2

-

VALUATION 

Fair

Value

  The

fund’s

financial

instruments

are

valued

at

the

close

of

the

NYSE

and

are

reported

at

fair

value,

which

GAAP

defines

as

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date. The fund’s

Board

of

Directors

(the

Board)

has

designated

T.

Rowe

Price

Associates,

Inc.

as

the

fund’s

valuation

designee

(Valuation

Designee).

Subject

to

oversight

by

the

Board,

the

Valuation

Designee

performs

the

following

functions

in

performing

fair

value

determinations:

assesses

and

manages

valuation

risks;

establishes

and

applies

fair

value

methodologies;

tests

fair

value

methodologies;

and

evaluates

pricing

vendors

and

pricing

agents.

The

duties

and

responsibilities

of

the

Valuation

Designee

are

performed

by

its

Valuation

Committee. The

Valuation

Designee provides

periodic

reporting

to

the

Board

on

valuation

matters.

Various

valuation

techniques

and

inputs

are

used

to

determine

the

fair

value

of

financial

instruments.

GAAP

establishes

the

following

fair

value

hierarchy

that

categorizes

the

inputs

used

to

measure

fair

value:

Level

1

–

quoted

prices

(unadjusted)

in

active

markets

for

identical

financial

instruments

that

the

fund

can

access

at

the

reporting

date

Level

2

–

inputs

other

than

Level

1

quoted

prices

that

are

observable,

either

directly

or

indirectly

(including,

but

not

limited

to,

quoted

prices

for

similar

financial

instruments

in

active

markets,

quoted

prices

for

identical

or

similar

financial

instruments

in

inactive

markets,

interest

rates

and

yield

curves,

implied

volatilities,

and

credit

spreads)

Level

3

–

unobservable

inputs

(including

the Valuation

Designee’s assumptions

in

determining

fair

value)

Observable

inputs

are

developed

using

market

data,

such

as

publicly

available

information

about

actual

events

or

transactions,

and

reflect

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

Unobservable

inputs

are

those

for

which

market

data

are

not

available

and

are

developed

using

the

best

information

available

about

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

GAAP

requires

valuation

techniques

to

maximize

the

use

of

relevant

T.

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International

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47

observable

inputs

and

minimize

the

use

of

unobservable

inputs.

When

multiple

inputs

are

used

to

derive

fair

value,

the

financial

instrument

is

assigned

to

the

level

within

the

fair

value

hierarchy

based

on

the

lowest-level

input

that

is

significant

to

the

fair

value

of

the

financial

instrument.

Input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level

but

rather

the

degree

of

judgment

used

in

determining

those

values.

Valuation

Techniques 

Equity

securities,

including

exchange-traded

funds, listed

or

regularly

traded

on

a

securities

exchange

or

in

the

over-the-counter

(OTC)

market

are

valued

at

the

last

quoted

sale

price

or,

for

certain

markets,

the

official

closing

price

at

the

time

the

valuations

are

made.

OTC

Bulletin

Board

securities

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices.

A

security

that

is

listed

or

traded

on

more

than

one

exchange

is

valued

at

the

quotation

on

the

exchange

determined

to

be

the

primary

market

for

such

security.

Listed

securities

not

traded

on

a

particular

day

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices

for

domestic

securities

and

the

last

quoted

sale

or

closing

price

for

international

securities.

The

last

quoted

prices

of

non-U.S.

equity

securities

may

be

adjusted

to

reflect

the

fair

value

of

such

securities

at

the

close

of

the

NYSE,

if

the Valuation

Designee

determines

that

developments

between

the

close

of

a

foreign

market

and

the

close

of

the

NYSE

will

affect

the

value

of

some

or

all

of

the fund’s portfolio

securities.

Each

business

day,

the

Valuation

Designee uses

information

from

outside

pricing

services

to

evaluate

the

quoted

prices

of

portfolio

securities

and,

if

appropriate,

decide whether

it

is

necessary

to

adjust

quoted

prices

to

reflect

fair

value

by

reviewing

a

variety

of

factors,

including

developments

in

foreign

markets,

the

performance

of

U.S.

securities

markets,

and

the

performance

of

instruments

trading

in

U.S.

markets

that

represent

foreign

securities

and

baskets

of

foreign

securities. The Valuation

Designee

uses

outside

pricing

services

to

provide

it

with

quoted

prices

and

information

to

evaluate

or

adjust

those

prices.

The Valuation

Designee

cannot

predict

how

often

it

will

use

quoted

prices

and

how

often

it

will

determine

it

necessary

to

adjust

those

prices

to

reflect

fair

value.

Debt

securities

generally

are

traded

in

the over-the-counter

(OTC)

market

and

are

valued

at

prices

furnished

by

independent

pricing

services

or

by

broker

dealers

who

make

markets

in

such

securities.

When

valuing

securities,

the

independent

pricing

services

consider

factors

such

as,

but

not

limited

to,

the

yield

or

price

of

bonds

of

comparable

quality,

coupon,

maturity,

and

type,

as

well

as

prices

quoted

by

dealers

who

make

markets

in

such

securities.

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Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

Futures

contracts

are

valued

at

closing

settlement

prices.

Assets

and

liabilities

other

than

financial

instruments,

including

short-term

receivables

and

payables,

are

carried

at

cost,

or

estimated

realizable

value,

if

less,

which

approximates

fair

value. 

Investments

for

which

market

quotations are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Designee.

The

Valuation

Designee

has

adopted

methodologies

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable,

including

the

use

of

other

pricing

sources.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Designee typically

will

afford

greatest

weight

to

actual

prices

in

arm’s

length

transactions,

to

the

extent

they

represent

orderly

transactions

between

market

participants,

transaction

information

can

be

reliably

obtained,

and

prices

are

deemed

representative

of

fair

value.

However,

the

Valuation

Designee may

also

consider

other

valuation

methods

such

as

market-based

valuation

multiples;

a

discount

or

premium

from

market

value

of

a

similar,

freely

traded

security

of

the

same

issuer;

discounted

cash

flows;

yield

to

maturity;

or

some

combination.

Fair

value

determinations

are

reviewed

on

a

regular

basis.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions. Fair

value

prices

determined

by

the

Valuation

Designee could

differ

from

those

of

other

market

participants,

and

it

is

possible

that

the

fair

value

determined

for

a

security

may

be

materially

different

from

the

value

that

could

be

realized

upon

the

sale

of

that

security.

T.

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49

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

October

31,

2023

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

NOTE

3

-

DERIVATIVE

INSTRUMENTS 

During

the

year ended

October

31,

2023,

the

fund

invested

in

derivative

instruments.

As

defined

by

GAAP,

a

derivative

is

a

financial

instrument

whose

value

is

derived

from

an

underlying

security

price,

foreign

exchange

rate,

interest

rate,

index

of

prices

or

rates,

or

other

variable;

it

requires

little

or

no

initial

investment

and

permits

or

requires

net

settlement.

The

fund

invests

in

derivatives

only

if

the

expected

risks

and

rewards

are

consistent

with

its

investment

objectives,

policies,

and

overall

risk

profile,

as

described

in

its

prospectus

and

Statement

of

Additional

Information.

The

fund

may

use

derivatives

for

a

variety

of

purposes

and

may

use

them

to

establish

both

long

and

short

positions

within

the

fund’s

portfolio.

Potential

uses

include

to

hedge

against

declines

in

principal

value,

increase

yield,

invest

in

an

asset

with

greater

efficiency

and

at

a

lower

cost

than

is

possible

through

direct

investment,

to

enhance

return,

or

to

adjust

credit

exposure.

The

risks

associated

with

the

use

of

derivatives

are

different

from,

and

potentially

much

greater

than,

the

risks

associated

with

investing

directly

in

the

instruments

on

which

the

derivatives

are

based.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

4,386‌

$

715,369‌

$

—‌

$

719,755‌

Equity

Mutual

Funds

4,863‌

—‌

—‌

4,863‌

Preferred

Stocks

—‌

3,243‌

—‌

3,243‌

Short-Term

Investments

9,844‌

1,183‌

—‌

11,027‌

Securities

Lending

Collateral

15,054‌

—‌

—‌

15,054‌

Total

$

34,147‌

$

719,795‌

$

—‌

$

753,942‌

Liabilities

Futures

Contracts*

$

791‌

$

—‌

$

—‌

$

791‌

*

The

fair

value

presented

includes

cumulative

gain

(loss)

on

open

futures

contracts;

however,

the

net

value

reflected

on

the

accompanying

Portfolio

of

Investments

is

only

the

unsettled

variation

margin

receivable

(payable)

at

that

date.

T.

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The

fund

values

its

derivatives

at

fair

value

and

recognizes

changes

in

fair

value

currently

in

its

results

of

operations.

Accordingly,

the

fund

does

not

follow

hedge

accounting,

even

for

derivatives

employed

as

economic

hedges.

Generally,

the

fund

accounts

for

its

derivatives

on

a

gross

basis.

It

does

not

offset

the

fair

value

of

derivative

liabilities

against

the

fair

value

of

derivative

assets

on

its

financial

statements,

nor

does

it

offset

the

fair

value

of

derivative

instruments

against

the

right

to

reclaim

or

obligation

to

return

collateral.

The

following

table

summarizes

the

fair

value

of

the

fund’s

derivative

instruments

held

as

of

October

31,

2023,

and

the

related

location

on

the

accompanying

Statement

of

Assets

and

Liabilities,

presented

by

primary

underlying

risk

exposure:

Additionally,

the

amount

of

gains

and

losses

on

derivative

instruments

recognized

in

fund

earnings

during

the

year ended

October

31,

2023,

and

the

related

location

on

the

accompanying

Statement

of

Operations

is

summarized

in

the

following

table

by

primary

underlying

risk

exposure: 

($000s)

Location

on

Statement

of

Assets

and

Liabilities

Fair

Value*

*

Liabilities

Equity

derivatives

Futures

$

791‌

Total

$

791‌

*

The

fair

value

presented

includes

cumulative

gain

(loss)

on

open

futures

contracts;

however,

the

value

reflected

on

the

accompanying

Statement

of

Assets

and

Liabilities

is

only

the

unsettled

variation

margin

receivable

(payable)

at

that

date.

($000s)                                              

Location

of

Gain

(Loss)

on

Statement

of

Operations

Futures

Realized

Gain

(Loss)

Equity

derivatives

$

835‌

Total

$

835‌

T.

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51

Counterparty

Risk

and

Collateral

 The

fund

invests

in

exchange-traded

and/or

centrally

cleared

derivative

contracts,

such

as

futures,

exchange-traded

options,

and

centrally

cleared

swaps.

Counterparty

risk

on

such

derivatives

is

minimal

because

the

clearinghouse

provides

protection

against

counterparty

defaults.

For

futures

and

centrally

cleared

swaps,

the

fund

is

required

to

deposit

collateral

in

an

amount

specified

by

the

clearinghouse

and

the

clearing

firm

(margin

requirement),

and

the

margin

requirement

must

be

maintained

over

the

life

of

the

contract.

Each

clearinghouse

and

clearing

firm,

in

its

sole

discretion,

may

adjust

the

margin

requirements

applicable

to

the

fund.

Collateral may

be

in

the

form

of

cash

or

debt

securities

issued

by

the

U.S.

government

or

related

agencies.

Cash

posted

by

the

fund

is

reflected

as

cash

deposits

in

the

accompanying

financial

statements

and

generally

is

restricted

from

withdrawal

by

the

fund;

securities

posted

by

the

fund

are

so

noted

in

the

accompanying

Portfolio

of

Investments;

both

remain

in

the

fund’s

assets.

While

typically

not

sold

in

the

same

manner

as

equity

or

fixed

income

securities,

exchange-traded

or

centrally

cleared

derivatives

may

be

closed

out

only

on

the

exchange

or

clearinghouse

where

the

contracts

were

cleared.

This

ability

is

subject

to

the

liquidity

of

underlying

positions. As

of

October

31,

2023,

securities

valued

at $493,000

had

been

posted

by

the

fund

for

exchange-traded

and/or

centrally

cleared

derivatives. 

Futures

Contracts

 The

fund

is

subject

to equity

price

risk in

the

normal

course

of

pursuing

its

investment

objectives

and

uses

futures

contracts

to

help

manage

such

risk.

The

fund

may

enter

into

futures

contracts

as

an

efficient

means

of

maintaining

liquidity

while

being

invested

in

the

market,

to

facilitate

trading,

or

to

reduce

transaction

costs. A

futures

contract

provides

for

the

future

sale

by

one

party

and

purchase

by

another

of

a

specified

amount

of

a

specific

underlying

financial

instrument

at

an

agreed-upon

price,

date,

time,

and

place.

The

fund

currently

invests

only

in

exchange-traded

futures,

which

generally

are

standardized

as

to

maturity

date,

underlying

financial

instrument,

and

other

contract

terms.

Payments

are

made

or

received

by

the

fund

each

day

to

settle

daily

fluctuations

in

the

value

of

the

contract

(variation

margin),

which

reflect

changes

in

the

($000s)                                                

Location

of

Gain

(Loss)

on

Statement

of

Operations

Futures

Change

in

Unrealized

Gain

(Loss)

Equity

derivatives

$

(669‌)

Total

$

(669‌)

T.

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52

value

of

the

underlying

financial

instrument.

Variation

margin

is

recorded

as

unrealized

gain

or

loss

until

the

contract

is

closed.

The

value

of

a

futures

contract

included

in

net

assets

is

the

amount

of

unsettled

variation

margin;

net

variation

margin

receivable

is

reflected

as

an

asset

and

net

variation

margin

payable

is

reflected

as

a

liability

on

the

accompanying

Statement

of

Assets

and

Liabilities.

When

a

contract

is

closed,

a

realized

gain

or

loss

is

recorded

on

the

accompanying

Statement

of

Operations.

Risks

related

to

the

use

of

futures

contracts

include

possible

illiquidity

of

the

futures

markets,

contract

prices

that

can

be

highly

volatile

and

imperfectly

correlated

to

movements

in

hedged

security

values,

and

potential

losses

in

excess

of

the

fund’s

initial

investment.

During

the

year ended

October

31,

2023,

the

volume

of

the

fund’s

activity

in

futures,

based

on

underlying

notional

amounts,

was

generally

between

0%

and

2%

of

net

assets.

NOTE

4

-

OTHER

INVESTMENT

TRANSACTIONS 

Consistent

with

its

investment

objective,

the

fund

engages

in

the

following

practices

to

manage

exposure

to

certain

risks

and/or

to

enhance

performance.

The

investment

objective,

policies,

program,

and

risk

factors

of

the

fund

are

described

more

fully

in

the

fund's

prospectus

and

Statement

of

Additional

Information.

Securities

Lending

 The fund

may

lend

its

securities

to

approved

borrowers

to

earn

additional

income.

Its

securities

lending

activities

are

administered

by

a

lending

agent

in

accordance

with

a

securities

lending

agreement.

Security

loans

generally

do

not

have

stated

maturity

dates,

and

the

fund

may

recall

a

security

at

any

time.

The

fund

receives

collateral

in

the

form

of

cash

or

U.S.

government

securities.

Collateral

is

maintained

over

the

life

of

the

loan

in

an

amount

not

less

than

the

value

of

loaned

securities;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the

fund

the

next

business

day.

Cash

collateral

is

invested

in

accordance

with

investment

guidelines

approved

by

fund

management.

Additionally,

the

lending

agent

indemnifies

the

fund

against

losses

resulting

from

borrower

default.

Although

risk

is

mitigated

by

the

collateral

and

indemnification,

the

fund

could

experience

a

delay

in

recovering

its

securities

and

a

possible

loss

of

income

or

value

if

the

borrower

fails

to

return

the

securities,

collateral

investments

decline

in

value,

and

the

lending

agent

fails

to

perform.

Securities

lending

revenue

consists

of

earnings

on

invested

collateral

and

borrowing

fees,

net

of

any

rebates

to

the

borrower,

compensation

to

the

lending

agent,

and

other

administrative

costs.

In

accordance

with

GAAP,

investments

made

with

cash

collateral

are

reflected

in

the

accompanying

financial

statements,

but

collateral

received

in

the

form

of

securities

is

not.

At

October

31,

2023,

the

value

of

loaned

securities

was

$14,427,000;

the

value

of

cash

collateral

and

related

investments

was

$15,054,000.

T.

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Index

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53

Other 

Purchases

and

sales

of

portfolio

securities

other

than

short-term securities

aggregated $306,877,000 and

$218,575,000,

respectively,

for

the

year ended

October

31,

2023.

NOTE

5

-

FEDERAL

INCOME

TAXES

Generally,

no

provision

for

federal

income

taxes

is

required

since

the

fund

intends

to

continue

to

qualify

as

a

regulated

investment

company

under

Subchapter

M

of

the

Internal

Revenue

Code

and

distribute

to

shareholders

all

of

its

taxable

income

and

gains.

Distributions

determined

in

accordance

with

federal

income

tax

regulations

may

differ

in

amount

or

character

from

net

investment

income

and

realized

gains

for

financial

reporting

purposes.

The fund

files

U.S.

federal,

state,

and

local

tax

returns

as

required. The

fund’s

tax

returns

are

subject

to

examination

by

the

relevant

tax

authorities

until

expiration

of

the

applicable

statute

of

limitations,

which

is

generally

three

years

after

the

filing

of

the

tax

return,

but

which

can

be

extended

to

six

years

in

certain

circumstances.

Tax

returns

for

open

years

have

incorporated

no

uncertain

tax

positions

that

require

a

provision

for

income

taxes.

Capital

accounts

within

the

financial

reporting

records

are

adjusted

for

permanent

book/tax

differences

to

reflect

tax

character

but

are

not

adjusted

for

temporary

differences.

The

permanent

book/tax

adjustments,

if

any,

have

no

impact

on

results

of

operations

or

net

assets.

The

permanent

book/tax

adjustments

relate

primarily

to

the

character

of

income

on

passive

foreign

investment

companies.

The

tax

character

of

distributions

paid

for

the

periods

presented

was

as

follows:

($000s)

October

31,

2023

October

31,

2022

Ordinary

income

(including

short-term

capital

gains,

if

any)

$

17,091‌

$

22,564‌

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Index

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54

At

October

31,

2023,

the

tax-basis

cost

of

investments

(including

derivatives,

if

any)

and

gross

unrealized

appreciation

and

depreciation

were

as

follows:

At

October

31,

2023,

the

tax-basis

components

of

accumulated

net

earnings

(loss)

were

as

follows:

Temporary

differences

between

book-basis

and

tax-basis

components

of

total

distributable

earnings

(loss)

arise

when

certain

items

of

income,

gain,

or

loss

are

recognized

in

different

periods

for

financial

statement

purposes

versus

for

tax

purposes;

these

differences

will

reverse

in

a

subsequent

reporting

period.

The

temporary

differences

relate

primarily

to

the

deferral

of

losses

from

wash

sales,

and

the

realization

of

gains/losses

on

passive

foreign

investment

companies

and

certain

open

derivative

contracts.

The

loss

carryforwards

and

deferrals

primarily

relate

to

capital

loss

carryforwards.

Capital

loss

carryforwards

are

available

indefinitely

to

offset

future

realized

capital

gains.

NOTE

6

-

FOREIGN  TAXES

The

fund

is

subject

to

foreign

income

taxes

imposed

by

certain

countries

in

which

it

invests.

Additionally,

capital

gains

realized

upon

disposition

of

securities

issued

in

or

by

certain

foreign

countries

are

subject

to

capital

gains

tax

imposed

by

those

countries.

All

taxes

are

computed

in

accordance

with

the

applicable

foreign

tax

law,

and,

to

the

extent

permitted,

capital

losses

are

used

to

offset

capital

gains.

Taxes

attributable

to

income

are

accrued

by

the

fund

as

a

reduction

of

income.

Current

and

deferred

tax

expense

attributable

to

capital

gains

is

reflected

as

a

component

of

realized

or

change

in

unrealized

gain/loss

on

securities

in

the

accompanying

financial

statements.

To

the

($000s)

Cost

of

investments

$

652,228‌

Unrealized

appreciation

$

234,038‌

Unrealized

depreciation

(132,441‌)

Net

unrealized

appreciation

(depreciation)

$

101,597‌

($000s)

Undistributed

ordinary

income

$

22,563‌

Net

unrealized

appreciation

(depreciation)

101,597‌

Loss

carryforwards

and

deferrals

(38,096‌)

Total

distributable

earnings

(loss)

$

86,064‌

T.

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55

extent

that

the

fund

has

country

specific

capital

loss

carryforwards,

such

carryforwards

are

applied

against

net

unrealized

gains

when

determining

the

deferred

tax

liability.

Any

deferred

tax

liability

incurred

by

the

fund

is

included

in

either

Other

liabilities

or

Deferred

tax

liability

on

the

accompanying

Statement

of

Assets

and

Liabilities.

NOTE

7

-

RELATED

PARTY

TRANSACTIONS

The

fund

is

managed

by

T.

Rowe

Price

Associates,

Inc.

(Price

Associates),

a

wholly

owned

subsidiary

of

T.

Rowe

Price

Group,

Inc.

(Price

Group). Price

Associates

has

entered

into

a

sub-advisory

agreement(s)

with

one

or

more

of

its

wholly

owned

subsidiaries,

to

provide

investment

advisory

services

to

the

fund. 

The

investment

management

agreement

between

the

fund

and

Price

Associates

provides

for

an

annual

investment

management

fee

equal

to 0.09%

of

the

fund’s

average

daily

net

assets.

The

fee

is

computed

daily

and

paid

monthly.

The Investor Class is

subject

to

a

contractual

expense

limitation

through

the

expense

limitation

date

indicated

in

the

table

below.

During

the

limitation

period,

Price

Associates

is required

to

waive

its

management

fee

or

pay

any

expenses

(excluding

interest;

expenses

related

to

borrowings,

taxes,

and

brokerage;

non-recurring,

extraordinary expenses;

and

acquired

fund

fees

and

expenses) that

would

otherwise

cause

the

class’s

ratio

of

annualized

total

expenses

to

average

net

assets

(net

expense

ratio)

to

exceed

its

expense

limitation.

The

class

is

required

to

repay

Price

Associates

for

expenses

previously

waived/paid

to

the

extent

the

class’s

net

assets

grow

or

expenses

decline

sufficiently

to

allow

repayment

without

causing

the

class’s

net

expense

ratio

(after

the

repayment

is

taken

into

account)

to

exceed

the

lesser

of:

(1)

the

expense

limitation

in

place

at

the

time

such

amounts

were

waived;

or

(2)

the

class’s

current

expense

limitation.

However,

no

repayment

will

be

made

more

than

three

years

after

the

date

of

a

payment

or

waiver.

The

Z

Class

is

also

subject

to

a

contractual

expense

limitation

agreement

whereby

Price

Associates

has

agreed

to

waive

and/or

bear

all

of

the

Z

Class’

expenses

(excluding

interest;

expenses

related

to

borrowings,

taxes,

and

brokerage;

non-recurring,

extraordinary

expenses;

and

acquired

fund

fees

and

expenses)

in

their

entirety.

This

fee

waiver

and/or

expense

reimbursement

arrangement

is

expected

to

remain

in

place

indefinitely,

and

the

agreement

may

only

be

amended

or

terminated

with

approval

by

the

fund’s

Board.

Expenses

of

the

fund

waived/paid

by

the

manager

are

not

subject

to

later

repayment

by

the

fund.

T.

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International

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56

In

addition,

the

fund

is

subject

to

a

permanent

contractual

expense

limitation,

pursuant

to

which

Price

Associates

is

required

to

waive

its

management

fee

or

pay

any

expenses

(excluding

interest;

expenses

related

to

borrowings,

taxes,

and

brokerage;

non-recurring,

extraordinary

expenses;

and

acquired

fund

fees

and

expenses)

that

would

otherwise

cause

the

class’s

ratio

of

annualized

total

expenses

to

average

net

assets

(net

expense

ratio)

to

exceed

0.45%.

The

agreement

may

only

be

terminated

with

approval

by

the

fund’s

shareholders.

Each

class

is

required

to

repay

Price

Associates

for

expenses

previously

waived/paid

to

the

extent

the

class’s

net

assets

grow

or

expenses

decline

sufficiently

to

allow

repayment

without

causing

the

class’s

net

expense

ratio

(after

the

repayment

is

taken

into

account)

to

exceed

the

lesser

of:

(1)

the

expense

limitation

in

place

at

the

time

such

amounts

were

waived;

or

(2)

the

class’s

current

expense

limitation.

However,

no

repayment

will

be

made

more

than

three

years

after

the

date

of

a

payment

or

waiver.

No

management

fees

were

waived

or

any

expenses

paid

under

this

particular

arrangement

during

the year

ended October

31,

2023.

Pursuant

to

this

agreement,

expenses

were waived/paid

by

and/or

repaid

to

Price

Associates

during

the year

ended October

31,

2023 as

indicated

in

the

table

below.

At

October

31,

2023,

there

were

no

amounts

subject

to

repayment

by

the

fund.

Any

repayment

of

expenses

previously

waived/paid

by

Price

Associates

during

the

period

would

be

included

in

the

net

investment

income

and

expense

ratios

presented

on

the

accompanying

Financial

Highlights.

In

addition,

the

fund

has

entered

into

service

agreements

with

Price

Associates

and

two

wholly

owned

subsidiaries

of

Price

Associates,

each

an

affiliate

of

the

fund

(collectively,

Price).

Price

Associates

provides

certain

accounting

and

administrative

services

to

the

fund.

T.

Rowe

Price

Services,

Inc.

provides

shareholder

and

administrative

services

in

its

capacity

as

the

fund’s

transfer

and

dividend-disbursing

agent.

T.

Rowe

Price

Retirement

Plan

Services,

Inc.

provides

subaccounting

and

recordkeeping

services

for

certain

retirement

accounts

invested

in

the

Investor

Class.

For

the

year

ended

October

31,

2023,

expenses

incurred

pursuant

to

these

service

agreements

were

$112,000

for

Price

Associates;

$326,000

for

T.

Rowe

Price

Services,

Inc.;

and

$105,000

for

T.

Rowe

Price

Retirement

Plan

Services,

Inc.

All

amounts

due

to

and

due

from

Price,

exclusive

of

investment

management

fees

payable,

are

presented

net

on

the

accompanying

Statement

of

Assets

and

Liabilities.

Investor

Class

Z

Class

Expense

limitation/I

Class

Limit

0.31%

0.00%

Expense

limitation

date

02/28/26

N/A

(Waived)/repaid

during

the

period

($000s)

$—

$(116)

T.

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57

T.

Rowe

Price

Investment

Services,

Inc.

(Investment

Services)

serves

as

distributor

to

the

fund.

Pursuant

to

an

underwriting

agreement,

no

compensation

for

any

distribution

services

provided

is

paid

to

Investment

Services

by

the

fund

(except

for

12b-1

fees

under

a

Board-approved

Rule

12b-1

plan).  

Additionally,

the

fund

is

one

of

several

mutual

funds

in

which

certain

college

savings

plans

managed

by

Price

Associates invests.

As

approved

by

the

fund’s

Board

of

Directors,

shareholder

servicing

costs

associated

with

each

college

savings

plan

are

borne

by

the

fund

in

proportion

to

the

average

daily

value

of

its

shares

owned

by

the

college

savings

plan.

Price

has

agreed

to waive/reimburse

shareholder

servicing

costs in

excess

of

0.05%

of

the

fund’s

average

daily

value

of

its

shares

owned

by

the

college

savings

plan.

Any

amounts

waived/paid

by

Price

under

this

voluntary

agreement

are

not

subject

to

repayment

by

the

fund.

Price

may

amend

or

terminate

this

voluntary

arrangement

at

any

time

without

prior

notice.

For

the

year ended

October

31,

2023,

the

fund

was

charged $67,000 for

shareholder

servicing

costs

related

to

the

college

savings

plans, of

which

$40,000

was

for

services

provided

by

Price.

All

amounts

due

to

and

due

from

Price,

exclusive

of

investment

management

fees

payable,

are

presented

net

on

the

accompanying

Statement

of

Assets

and

Liabilities. At

October

31,

2023,

approximately

18%

of

the

outstanding

shares

of

the

Investor

Class

were

held

by

college

savings

plans.

Mutual

funds,

trusts,

and

other

accounts

managed

by

Price

Associates

or

its

affiliates

(collectively,

Price

Funds

and

accounts)

may

invest

in

the

fund.

No

Price

fund

or

account

may

invest

for

the

purpose

of

exercising

management

or

control

over

the

fund.

At

October

31,

2023, 100%

of

the

Z

Class's

outstanding

shares

were

held

by

Price

Funds

and

accounts.

The fund

may

invest

its

cash

reserves

in

certain

open-end

management

investment

companies

managed

by

Price

Associates

and

considered

affiliates

of

the

fund:

the

T.

Rowe

Price

Government

Reserve

Fund

or

the

T.

Rowe

Price

Treasury

Reserve

Fund,

organized

as

money

market

funds

(together,

the

Price

Reserve

Funds).

The

Price

Reserve

Funds

are

offered

as

short-term

investment

options

to

mutual

funds,

trusts,

and

other

accounts

managed

by

Price

Associates

or

its

affiliates

and

are

not

available

for

direct

purchase

by

members

of

the

public.

Cash

collateral

from

securities

lending,

if

any,

is

invested

in

the

T.

Rowe

Price

Government

Reserve Fund. The

Price

Reserve

Funds

pay

no

investment

management

fees.

The

fund may

participate

in

securities

purchase

and

sale

transactions

with

other

funds

or

accounts

advised

by

Price

Associates

(cross

trades),

in

accordance

with

procedures

adopted

by the

fund’s

Board

and

Securities

and

Exchange

Commission

rules,

which

require,

among

other

things,

that

such

purchase

and

sale

cross

trades

be

effected

at

the

T.

ROWE

PRICE

International

Equity

Index

Fund

58

independent

current

market

price

of

the

security.

During

the

year

ended

October

31,

2023,

the

fund

had

no

purchases

or

sales

cross

trades

with

other

funds

or

accounts

advised

by

Price

Associates.

NOTE

8

-

BORROWING

To

provide

temporary

liquidity,

the

fund

may

borrow

from

other

T.

Rowe

Price-

sponsored

mutual

funds

under

an

interfund

borrowing

program

developed

and

managed

by

Price

Associates.

The

program

permits

the

borrowing

and

lending

of

cash

at

rates

beneficial

to

both

the

borrowing

and

lending

funds.

Pursuant

to

program

guidelines,

loans

totaling

10%

or

more

of

a

borrowing

fund’s

total

assets

require

collateralization

at

102%

of

the

value

of

the

loan;

loans

of

less

than

10%

are

unsecured.

During

the

year ended

October

31,

2023,

the

fund

incurred

$7,000

in

interest

expense

related

to

outstanding

borrowings

on

three

days

in

the

average

amount

of

$13,267,000

and

at

an

average

annual

rate

of

6.76%.

At

October

31,

2023,

there

were

no

borrowings

outstanding.

NOTE

9

-

OTHER

MATTERS

Unpredictable

events

such

as

environmental

or

natural

disasters,

war

and

conflict,

terrorism,

geopolitical

events,

and

public

health

epidemics and

similar

public

health

threats

may

significantly

affect

the

economy

and

the

markets

and

issuers

in

which

the fund

invests.

Certain

events

may

cause

instability

across

global

markets,

including

reduced

liquidity

and

disruptions

in

trading

markets,

while

some

events

may

affect

certain

geographic

regions,

countries,

sectors,

and

industries

more

significantly

than

others,

and

exacerbate

other

pre-existing

political,

social,

and

economic

risks.

The

global

outbreak

of

COVID-19

and

the

related

governmental

and

public

responses

have

led

and

may

continue

to

lead

to

increased

market

volatility

and

the

potential

for

illiquidity

in

certain

classes

of

securities

and

sectors

of

the

market

either

in

specific

countries

or

worldwide.

In

February

2022,

Russian

forces

entered

Ukraine

and

commenced

an

armed

conflict,

leading

to

economic

sanctions imposed

on

Russia

that

target certain

of

its

citizens

and

issuers

and

sectors

of

the

Russian

economy,

creating

impacts

on

Russian-related

stocks

and

debt

and

greater

volatility

in

global

markets.

In

March

2023,

the

banking

industry

experienced

heightened

volatility,

which

sparked

concerns

of

potential

broader

adverse

market

conditions.

The

extent

of

impact

of

these

events

on

the

US

and

global

markets

is

highly

uncertain.

T.

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International

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These

are

recent

examples

of

global

events

which

may

have

a

negative

impact

on

the

values

of

certain

portfolio

holdings

or

the

fund’s

overall

performance.

Management

is

actively

monitoring

the

risks

and

financial

impacts

arising

from

these

events.

T.

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International

Equity

Index

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60

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

To

the

Board

of

Directors

of

T.

Rowe

Price

International

Index

Fund,

Inc.

and

Shareholders

of

T.

Rowe

Price

International

Equity

Index

Fund

Opinion

on

the

Financial

Statements

We

have

audited

the

accompanying

statement

of

assets

and

liabilities,

including

the

portfolio

of

investments,

of

T.

Rowe

Price

International

Equity

Index

Fund

(constituting

T.

Rowe

Price

International

Index

Fund,

Inc.,

referred

to

hereafter

as

the

"Fund")

as

of

October

31,

2023,

the

related

statement

of

operations

for

the

year

ended

October

31,

2023,

the

statement

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

periods

indicated

therein

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

the

Fund

as

of

October

31,

2023,

the

results

of

its

operations

for

the

year

then

ended,

the

changes

in

its

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2023

and

the

financial

highlights

for

each

of

the

periods

indicated

therein,

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinion

These

financial

statements

are

the

responsibility

of

the

Fund’s

management.

Our

responsibility

is

to

express

an

opinion

on

the

Fund’s

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Fund

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

T.

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Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2023

by

correspondence

with

the

custodian,

transfer

agent

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion.

/s/

PricewaterhouseCoopers

LLP

Baltimore,

Maryland

December

19,

2023

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

T.

Rowe

Price

group

of

investment

companies

since

1973.

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

(continued)

T.

ROWE

PRICE

International

Equity

Index

Fund

62

TAX

INFORMATION

(UNAUDITED)

FOR

THE

TAX

YEAR

ENDED 10/31/23

We

are

providing

this

information

as

required

by

the

Internal

Revenue

Code.

The

amounts

shown

may

differ

from

those

elsewhere

in

this

report

because

of

differences

between

tax

and

financial

reporting

requirements.

For

taxable

non-corporate

shareholders,

$21,556,000 of

the

fund's

income

represents

qualified

dividend

income

subject

to

a

long-term

capital

gains

tax

rate

of

not

greater

than

20%.

The

fund

will

pass

through

foreign

source

income

of

$23,573,000

and

foreign

taxes

paid

of

$1,930,000.  

T.

ROWE

PRICE

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Equity

Index

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63

INFORMATION

ON

PROXY

VOTING

POLICIES,

PROCEDURES,

AND

RECORDS

A

description

of

the

policies

and

procedures

used

by

T.

Rowe

Price

funds

to

determine

how

to

vote

proxies

relating

to

portfolio

securities

is

available

in

each

fund’s

Statement

of

Additional

Information.

You

may

request

this

document

by

calling

1-800-225-5132

or

by

accessing

the

SEC’s

website,

sec.gov.

The

description

of

our

proxy

voting

policies

and

procedures

is

also

available

on

our

corporate

website.

To

access

it,

please

visit

the

following

Web

page:

https://www.troweprice.com/corporate/us/en/utility/policies.html

Scroll

down

to

the

section

near

the

bottom

of

the

page

that

says,

“Proxy

Voting

Guidelines.”

Click

on

the

links

in

the

shaded

box.

Each

fund’s

most

recent

annual

proxy

voting

record

is

available

on

our

website

and

through

the

SEC’s

website.

To

access

it

through

T.

Rowe

Price,

visit

the

website

location

shown

above,

and

scroll

down

to

the

section

near

the

bottom

of

the

page

that

says,

“Proxy

Voting

Records.”

Click

on

the

Proxy

Voting

Records

link

in

the

shaded

box.

RESULTS

OF

PROXY

VOTING

A

Special

Meeting

of

Shareholders

was

held

on

July

24,

2023

for

shareholders

of

record

on

April

7,

2023,

to

elect

the

following

director-nominees

to

serve

on

the

Board

of

all

Price

Funds.

The

newly

elected

Directors

took

office

effective

July

24,

2023.

The

results

of

the

voting

were

as

follows:

Teresa

Bryce

Bazemore,

Bruce

W.

Duncan,

Robert

J.

Gerrard,

Jr.,

Paul

F.

McBride

and

David

Oestreicher

continue

to

serve

as

Directors

on

the

Board

of

all

Price

Funds.

HOW

TO

OBTAIN

QUARTERLY

PORTFOLIO

HOLDINGS

The

fund

files

a

complete

schedule

of

portfolio

holdings

with

the

Securities

and

Exchange

Commission

(SEC)

for

the

first

and

third

quarters

of

each

fiscal

year

as

an

exhibit

to

its

reports

on

Form

N-PORT.

The

fund’s

reports

on

Form

N-PORT

are

available

electronically

on

the

SEC’s

website

(sec.gov).

In

addition,

most

T.

Rowe

Price

funds

disclose

their

first

and

third

fiscal

quarter-end

holdings

on

troweprice.com

.

Votes

For

Votes

Withheld

Melody

Bianchetto

37,367,232

104,955

Mark

J.

Parrell

37,357,093

108,080

Kellye

L.

Walker

37,354,738

107,176

Eric

L.

Veiel

37,369,832

107,292

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TAILORED

SHAREHOLDER

REPORTS

FOR

MUTUAL

FUNDS

AND

EXCHANGE

TRADED

FUNDS

In

October

2022,

the

Securities

and

Exchange

Commission

(SEC)

adopted

rule

and

form

amendments

requiring

Mutual

Funds

and

Exchange-Traded

Funds

to

transmit

concise

and

visually

engaging

streamlined

annual

and

semiannual

reports

that

highlight

key

information

to

shareholders.

Other

information,

including

financial

statements,

will

no

longer

appear

in

the

funds’

shareholder

reports

but

will

be

available

online,

delivered

free

of

charge

upon

request,

and

filed

on

a

semiannual

basis

on

Form

N-CSR.

The

rule

and

form

amendments

have

a

compliance

date

of

July

24,

2024.

T.

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65

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

In accordance

with

Rule

22e-4

(Liquidity

Rule)

under

the

Investment

Company

Act

of

1940,

as

amended,

the

fund

has

established

a

liquidity

risk

management

program

(Liquidity

Program)

reasonably

designed

to

assess

and

manage

the

fund’s

liquidity

risk,

which

generally

represents

the

risk

that

the

fund

would

not

be

able

to

meet

redemption

requests

without

significant

dilution

of

remaining

investors’

interests

in

the

fund.

The

fund’s

Board

of

Directors

(Board)

has

appointed

the

fund’s

investment

adviser,

T.

Rowe

Price

Associates,

Inc.

(Adviser),

as

the

administrator

of

the

Liquidity

Program.

As

administrator,

the

Adviser

is

responsible

for

overseeing

the

day-to-day

operations

of

the

Liquidity

Program

and,

among

other

things,

is

responsible

for

assessing,

managing,

and

reviewing

with

the

Board

at

least

annually

the

liquidity

risk

of

each

T.

Rowe

Price

fund.

The

Adviser

has

delegated

oversight

of

the

Liquidity

Program

to

a

Liquidity

Risk

Committee

(LRC),

which

is

a

cross-functional

committee

composed

of

personnel

from

multiple

departments

within

the

Adviser.

The

Liquidity

Program’s

principal

objectives

include

supporting

the

T.

Rowe

Price

funds’

compliance

with

limits

on

investments

in

illiquid

assets

and

mitigating

the

risk

that

the

fund

will

be

unable

to

timely

meet

its

redemption

obligations.

The

Liquidity

Program

also

includes

a

number

of

elements

that

support

the

management

and

assessment

of

liquidity

risk,

including

an

annual

assessment

of

factors

that

influence

the

fund’s

liquidity

and

the

periodic

classification

and

reclassification

of

a

fund’s

investments

into

categories

that

reflect

the

LRC’s

assessment

of

their

relative

liquidity

under

current

market

conditions.

Under

the

Liquidity

Program,

every

investment

held

by

the

fund

is

classified

at

least

monthly

into

one

of

four

liquidity

categories

based

on

estimations

of

the

investment’s

ability

to

be

sold

during

designated

time

frames

in

current

market

conditions

without

significantly

changing

the

investment’s

market

value.

As

required

by

the

Liquidity

Rule,

at

a

meeting

held

on

July

24,

2023,

the

Board

was

presented

with

an

annual

assessment

that

was

prepared

by

the

LRC

on

behalf

of

the

Adviser

and

addressed

the

operation

of

the

Liquidity

Program

and

assessed

its

adequacy

and

effectiveness

of

implementation,

including

any

material

changes

to

the

Liquidity

Program

and

the

determination

of

each

fund’s

Highly

Liquid

Investment

Minimum

(HLIM).

The

annual

assessment

included

consideration

of

the

following

factors,

as

applicable:

the

fund’s

investment

strategy

and

liquidity

of

portfolio

investments

during

normal

and

reasonably

foreseeable

stressed

conditions,

including

whether

the

investment

strategy

is

appropriate

for

an

open-end

fund,

the

extent

to

which

the

strategy

involves

a

relatively

concentrated

portfolio

or

large

positions

in

particular

issuers,

and

the

use

of

borrowings

for

investment

purposes

and

derivatives;

short-term

and

long-term

cash

flow

projections

covering

both

normal

and

reasonably

foreseeable

stressed

conditions;

and

holdings

of

cash

and

cash

equivalents,

as

well

as

available

borrowing

arrangements.

T.

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International

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66

For the

fund

and

other

T.

Rowe

Price

funds,

the

annual

assessment

incorporated

a

report

related

to

a

fund’s

holdings,

shareholder

and

portfolio

concentration,

any

borrowings

during

the

period,

cash

flow

projections,

and

other

relevant

data

for

the

period

of

April

1,

2022,

through

March

31,

2023.

The

report

described

the

methodology

for

classifying

a

fund’s

investments

(including

any

derivative

transactions)

into

one

of

four

liquidity

categories,

as

well

as

the

percentage

of

a

fund’s

investments

assigned

to

each

category.

It

also

explained

the

methodology

for

establishing

a

fund’s

HLIM

and

noted

that

the

LRC

reviews

the

HLIM

assigned

to

each

fund

no

less

frequently

than  annually.

During

the

period

covered

by

the

annual

assessment,

the

LRC

has

concluded,

and

reported

to

the

Board,

that

the

Liquidity

Program

continues

to

operate

adequately

and

effectively

and

is

reasonably

designed

to

assess

and

manage

the

fund’s

liquidity

risk.

LIQUIDITY

RISK

MANAGEMENT

PROGRAM

(continued)

T.

ROWE

PRICE

International

Equity

Index

Fund

67

ABOUT

THE

FUND'S

DIRECTORS

AND

OFFICERS

Your

fund

is

overseen

by

a

Board

of

Directors

(Board)

that

meets

regularly

to

review

a

wide

variety

of

matters

affecting

or

potentially

affecting

the

fund,

including

performance,

investment

programs,

compliance

matters,

advisory

fees

and

expenses,

service

providers,

and

business

and

regulatory

affairs.

The

Board

elects

the

fund’s

officers,

who

are

listed

in

the

final

table.

The

directors

who

are

also

employees

or

officers

of

T.

Rowe

Price

are

considered

to

be

“interested”

directors

as

defined

in

Section

2(a)(19)

of

the

1940

Act

because

of

their

relationships

with

T.

Rowe

Price

Associates,

Inc. (T.

Rowe

Price),

and

its

affiliates.

The

business

address

of

each

director

and

officer

is

100

East

Pratt

Street,

Baltimore,

Maryland

21202.

The

Statement

of

Additional

Information

includes

additional

information

about

the

fund

directors

and

is

available

without

charge

by

calling

a

T.

Rowe

Price

representative

at

1-800-638-5660.

INDEPENDENT

DIRECTORS

(a)

Name

(Year

of

Birth)

Year

Elected

[Number

of

T.

Rowe

Price

Portfolios

Overseen]

Principal

Occupation(s)

and

Directorships

of

Public

Companies

and

Other

Investment

Companies

During

the

Past

Five

Years

Teresa

Bryce

Bazemore

(1959)

2018

[209]

President

and

Chief

Executive

Officer,

Federal

Home

Loan

Bank

of

San

Francisco

(2021

to

present);

Chief

Executive

Officer,

Bazemore

Consulting

LLC

(2018

to

2021);

Director,

Chimera

Investment

Corporation

(2017

to

2021);

Director,

First

Industrial

Realty

Trust

(2020

to

present);

Director,

Federal

Home

Loan

Bank

of

Pittsburgh

(2017

to

2019)

Melody

Bianchetto

(1966)

2023

[209]

Vice

President

for

Finance,

University

of

Virginia

(2015

to

2023)

Bruce

W.

Duncan

(1951)

2013

[209]

President,

Chief

Executive

Officer,

and

Director,

CyrusOne,

Inc.

(2020

to

2021);

Chair

of

the

Board

(2016

to

2020)

and

President

(2009

to

2016),

First

Industrial

Realty

Trust,

owner

and

operator

of

industrial

properties;

Member,

Investment

Company

Institute

Board

of

Governors

(2017

to

2019);

Member,

Independent

Directors

Council

Governing

Board

(2017

to

2019);

Senior

Advisor,

KKR

(2018

to

2022);

Director,

Boston

Properties

(2016

to

present);

Director,

Marriott

International,

Inc.

(2016

to

2020)

Robert

J.

Gerrard,

Jr.

(1952)

2012

[209]

Chair

of

the

Board,

all

funds

(July

2018

to

present)

Paul

F.

McBride

(1956)

2013

[209]

Advisory

Board

Member,

Vizzia

Technologies

(2015

to

present);

Board

Member,

Dunbar

Armored

(2012

to

2018)

T.

ROWE

PRICE

International

Equity

Index

Fund

68

INTERESTED  DIRECTORS

(a)

Name

(Year

of

Birth)

Year

Elected

[Number

of

T.

Rowe

Price

Portfolios

Overseen]

Principal

Occupation(s)

and

Directorships

of

Public

Companies

and

Other

Investment

Companies

During

the

Past

Five

Years

Mark

J.

Parrell

(1966)

2023

[209]

Board

of

Trustees

Member

and

Chief

Executive

Officer

(2019

to

present),

President

(2018

to

present),

Executive

Vice

President

and

Chief

Financial

Officer

(2007

to

2018),

and

Senior

Vice

President

and

Treasurer

(2005

to

2007),

EQR;

Member,

Nareit

Dividends

Through

Diversity,

Equity

&

Inclusion

CEO

Council

and

Chair,

Nareit

2021

Audit

and

Investment

Committee

(2021);

Advisory

Board,

Ross

Business

School

at

University

of

Michigan

(2015

to

2016);

Member,

National

Multifamily

Housing

Council

and

served

as

Chair

of

the

Finance

Committee

(2015

to

2016);

Member,

Economic

Club

of

Chicago;

Director,

Brookdale

Senior

Living,

Inc.

(2015

to

2017);

Director,

Aviv

REIT,

Inc.

(2013

to

2015);

Director,

Real

Estate

Roundtable

and

the

2022

Executive

Board

Nareit;

Board

of

Directors

and

Chair

of

the

Finance

Committee,

Greater

Chicago

Food

Depository

Kellye

L.

Walker

(1966)

2021

[209]

Executive

Vice

President

and

Chief

Legal

Officer,

Eastman

Chemical

Company

(April

2020

to

present);

Executive

Vice

President

and

Chief

Legal

Officer,

Huntington

Ingalls

Industries,

Inc.

(January

2015

to

March

2020);

Director,

Lincoln

Electric

Company

(October

2020

to

present)

(a)

All

information

about

the

independent

directors

was

current

as

of

December

31,

2022,

unless

otherwise

indicated,

except

for

the

number

of

portfolios

overseen,

which

is

current

as

of

the

date

of

this

report.

Name

(Year

of

Birth)

Year

Elected

[Number

of

T.

Rowe

Price

Portfolios

Overseen]

Principal

Occupation(s)

and

Directorships

of

Public

Companies

and

Other

Investment

Companies

During

the

Past

Five

Years

David

Oestreicher

(1967)

2018

[209]

Director,

Vice

President,

and

Secretary,

T.

Rowe

Price,

T.

Rowe

Price

Investment

Services,

Inc.,

T.

Rowe

Price

Retirement

Plan

Services,

Inc.,

and

T.

Rowe

Price

Services,

Inc.;

Director

and

Secretary,

T.

Rowe

Price

Investment

Management,

Inc.

(Price

Investment

Management);

Vice

President

and

Secretary,

T.

Rowe

Price

International

(Price

International);

Vice

President,

T.

Rowe

Price

Hong

Kong

(Price

Hong

Kong),

T. Rowe

Price

Japan

(Price

Japan),

and

T.

Rowe

Price

Singapore

(Price

Singapore);

General

Counsel,

Vice

President,

and

Secretary,

T.

Rowe

Price

Group,

Inc.;

Chair

of

the

Board,

Chief

Executive

Officer,

President,

and

Secretary,

T.

Rowe

Price

Trust

Company;

Principal

Executive

Officer

and

Executive

Vice

President,

all

funds

INDEPENDENT

DIRECTORS

(a)

(CONTINUED)

T.

ROWE

PRICE

International

Equity

Index

Fund

69

OFFICERS

Name

(Year

of

Birth)

Year

Elected

[Number

of

T.

Rowe

Price

Portfolios

Overseen]

Principal

Occupation(s)

and

Directorships

of

Public

Companies

and

Other

Investment

Companies

During

the

Past

Five

Years

Eric

L.

Veiel,

CFA

(1972)

2022

[209]

Director

and

Vice

President,

T.

Rowe

Price;

Vice

President,

T.

Rowe

Price

Group,

Inc.,

and

T.

Rowe

Price

Trust

Company;

Vice

President,

Global

Funds

(a)

All

information

about

the

interested

directors

was

current

as

of

December

31,

2022,

unless

otherwise

indicated,

except

for

the

number

of

portfolios

overseen,

which

is

current

as

of

the

date

of

this

report.

Name

(Year

of

Birth)

Position

Held

With International

Equity

Index

Fund 

Principal

Occupation(s) 

E.

Frederick

Bair,

CFA,

CPA

(1969)

Vice

President

Vice

President,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

and

T.

Rowe

Price

Trust

Company

Armando

(Dino)

Capasso

(1974)

Chief

Compliance

Officer

and

Vice

President

Chief

Compliance

Officer

and

Vice

President,

T.

Rowe

Price

and

Price

Investment

Management;

Vice

President,

T.

Rowe

Price

Group,

Inc.;

formerly,

Chief

Compliance

Officer,

PGIM

Investments

LLC

and

AST

Investment

Services,

Inc.

(ASTIS)

(to

2022);

Chief

Compliance

Officer,

PGIM

Retail

Funds

complex

and

Prudential

Insurance

Funds

(to

2022);

Vice

President

and

Deputy

Chief

Compliance

Officer,

PGIM

Investments

LLC

and

ASTIS

(to

2019)

Alan

S.

Dupski,

CPA

(1982)

Principal

Financial

Officer,

Vice

President,

and

Treasurer

Vice

President,

Price

Investment

Management,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

and

T.

Rowe

Price

Trust

Company

Cheryl

Emory

(1963)

Assistant

Secretary 

Assistant

Vice

President

and

Assistant

Secretary,

T.

Rowe

Price;

Assistant

Secretary,

T.

Rowe

Price

Group,

Inc.,

Price

Investment

Management,

Price

International,

Price

Hong

Kong,

Price

Singapore,

T.

Rowe

Price

Investment

Services,

Inc.,

T.

Rowe

Price

Retirement

Plan

Services,

Inc.,

and

T.

Rowe

Price

Trust

Company

Unless

otherwise

noted,

officers

have

been

employees

of

T.

Rowe

Price

or

Price

International

for

at

least

5

years.

INTERESTED  DIRECTORS

(a)

(CONTINUED)

T.

ROWE

PRICE

International

Equity

Index

Fund

70

Name

(Year

of

Birth)

Position

Held

With International

Equity

Index

Fund 

Principal

Occupation(s) 

Cheryl

Hampton,

CPA

(1969)

Vice

President

Vice

President,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

and

T.

Rowe

Price

Trust

Company;

formerly,

Tax

Director,

Invesco

Ltd.

(to

2021);

Vice

President,

Oppenheimer

Funds,

Inc.

(to

2019)

Benjamin

Kersse,

CPA

(1989)

Vice

President

Vice

President,

T.

Rowe

Price

and

T.

Rowe

Price

Trust

Company

Paul

J.

Krug,

CPA

(1964)

Vice

President

Vice

President,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

and

T.

Rowe

Price

Trust

Company

Fran

M.

Pollack-Matz

(1961)

Vice

President

and

Secretary 

Vice

President,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

T.

Rowe

Price

Investment

Services,

Inc., T.

Rowe

Price

Services,

Inc.,

and

T.

Rowe

Price

Trust

Company

Richard

Sennett,

CPA

(1970)

Assistant

Treasurer

Vice

President,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

and

T.

Rowe

Price

Trust

Company

Neil

Smith

(1972)

President

Vice

President,

Price

Hong

Kong,

Price

Japan,

Price

Singapore,

T.

Rowe

Price

Group,

Inc.,

and

Price

International

Craig

A.

Thiese

(1975)

Vice

President

Vice

President,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

and

Price

International

Megan

Warren

(1968)

Vice

President

OFAC

Sanctions

Compliance

Officer

and

Vice

President,

Price

Investment

Management;

Vice

President,

T.

Rowe

Price,

T.

Rowe

Price

Group,

Inc.,

T.

Rowe

Price

Retirement

Plan

Services,

Inc.,

T.

Rowe

Price

Services,

Inc.,

and

T.

Rowe

Price

Trust

Company

Michael

T.

Wehn  (1984)

Vice

President

Vice

President,

T.

Rowe

Price

and

T.

Rowe

Price

Group,

Inc.

Ellen

York

(1988)

Vice

President

Vice

President,

Price

Investment

Management

and

T.

Rowe

Price

Unless

otherwise

noted,

officers

have

been

employees

of

T.

Rowe

Price

or

Price

International

for

at

least

5

years.

OFFICERS

(CONTINUED)

100

East

Pratt

Street

Baltimore,

MD

21202

T.

Rowe

Price

Investment

Services,

Inc.

Call

1-800-225-5132

to

request

a

prospectus

or

summary

prospectus;

each

includes

investment

objectives,

risks,

fees,

expenses,

and

other

information

that

you

should

read

and

consider

carefully

before

investing.

202312-3146045

F135-050

12/23

Item 1. (b) Notice pursuant to Rule 30e-3.

Not applicable.

Item 2. Code of Ethics.

The registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of this code of ethics is filed as an exhibit to this Form N-CSR. No substantive amendments were approved or waivers were granted to this code of ethics during the period covered by this report.

Item 3. Audit Committee Financial Expert.

The registrant’s Board of Directors has determined that Ms. Teresa Bryce Bazemore qualifies as an audit committee financial expert, as defined in Item 3 of Form N-CSR. Ms. Bazemore is considered independent for purposes of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

(a) – (d)    Aggregate fees billed for the last two fiscal years for professional services rendered to, or on behalf of, the registrant by the registrant’s principal accountant were as follows:

	2023		2022
Audit Fees	$	25,925	$	24,349
Audit-Related Fees		-		-
Tax Fees		-		-
All Other Fees		-		-

Audit fees include amounts related to the audit of the registrant’s annual financial statements and services normally provided by the accountant in connection with statutory and regulatory filings. Audit-related fees include amounts reasonably related to the performance of the audit of the registrant’s financial statements and specifically include the issuance of a report on internal controls and, if applicable, agreed-upon procedures related to fund acquisitions. Tax fees include amounts related to services for tax compliance, tax planning, and tax advice. The nature of these services specifically includes the review of distribution calculations and the preparation of Federal, state, and excise tax returns. All other fees include the registrant’s pro-rata share of amounts for agreed-upon procedures in conjunction with service contract approvals by the registrant’s Board of Directors/Trustees.

(e)(1) The registrant’s audit committee has adopted a policy whereby audit and non-audit services performed by the registrant’s principal accountant for the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant require pre-approval in advance at regularly scheduled audit committee meetings. If such a service is required between regularly scheduled audit committee meetings, pre-approval may be authorized by one audit committee member with ratification at the next scheduled audit committee meeting. Waiver of pre-approval for audit or non-audit services requiring fees of a de minimis amount is not permitted.

(2) No services included in (b) – (d) above were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

(g) The aggregate fees billed for the most recent fiscal year and the preceding fiscal year by the registrant’s principal accountant for non-audit services rendered to the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant were $1,584,000 and $2,760,000, respectively.

(h) All non-audit services rendered in (g) above were pre-approved by the registrant’s audit committee. Accordingly, these services were considered by the registrant’s audit committee in maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a) Not applicable. The complete schedule of investments is included in Item 1 of this Form N-CSR.

(b) Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There has been no change to the procedures by which shareholders may recommend nominees to the registrant’s board of directors.

Item 11. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.

(b) The registrant’s principal executive officer and principal financial officer are aware of no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

(a)(1)	The registrant’s code of ethics pursuant to Item 2 of Form N-CSR is attached.
(2)	Separate certifications by the registrant’s principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.
(3)	Written solicitation to repurchase securities issued by closed-end companies: not applicable.
(b)	A certification by the registrant’s principal executive officer and principal financial officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

T. Rowe Price International Index Fund, Inc.
By	/s/ David Oestreicher
	David Oestreicher
	Principal Executive Officer
Date	December 19, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By	/s/ David Oestreicher
	David Oestreicher
	Principal Executive Officer
Date	December 19, 2023
By	/s/ Alan S. Dupski
	Alan S. Dupski
	Principal Financial Officer
Date	December 19, 2023