T.

ROWE

PRICE

Global

Growth

Stock

Fund

January

31,

2021

(Unaudited)

1

Portfolio

of

Investments

‡

Shares

$

Value

(

Cost

and

value

in

$000s)

‡

ARGENTINA

0.4%

Common

Stocks

0.4%

MercadoLibre

(USD)

(1)

3,640‌

6,477‌

Total

Argentina

(Cost

$715

)

6,477‌

BRAZIL

1.5%

Common

Stocks

1.5%

Magazine

Luiza

1,098,416‌

5,043‌

Rede

D'Or

Sao

Luiz

350,501‌

4,183‌

StoneCo,

Class

A

(USD)

(1)

81,101‌

5,831‌

XP,

Class

A

(USD)

(1)

170,014‌

7,420‌

Total

Brazil

(Cost

$13,668

)

22,477‌

CANADA

2.1%

Common

Stocks

2.1%

Brookfield

Asset

Management,

Class

A

(USD)

330,899‌

12,852‌

Shopify,

Class

A

(USD)

(1)

8,623‌

9,473‌

Sun

Life

Financial

(USD)

203,666‌

9,422‌

Total

Canada

(Cost

$21,733

)

31,747‌

CAYMAN

ISLANDS

0.4%

Common

Stocks

0.2%

ANT

International,

Class

C,

Acquisition

Date:

6/7/18,

Cost

$2,115

(USD)

(1)(2)(3)

377,026‌

3,043‌

3,043‌

Convertible

Preferred

Stocks

0.2%

ByteDance,

Series

E,

Acquisition

Date:

7/8/19,

Cost

$1,291

(USD)

(1)(2)(3)

26,185‌

2,869‌

2,869‌

Total

Cayman

Islands

(Cost

$3,406

)

5,912‌

CHINA

7.5%

Common

Stocks

6.6%

Alibaba

Group

Holding,

ADR

(USD)

(1)

104,040‌

26,409‌

Alibaba

Health

Information

Technology

(HKD)

(1)

2,044,000‌

6,372‌

China

Resources

Beer

Holdings

(HKD)

692,000‌

6,101‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

2

Shares

$

Value

(Cost

and

value

in

$000s)

China

Resources

Mixc

Lifestyle

Services

(HKD)

(1)

1,245,600‌

6,555‌

GDS

Holdings,

Class

A

(HKD)

(1)

536,277‌

6,889‌

JD

Health

International

(HKD)

(1)

180,550‌

3,554‌

JD.com,

ADR

(USD)

(1)

85,640‌

7,595‌

KE

Holdings,

ADR

(USD)

(1)

32,134‌

1,899‌

Kuaishou

Technology

(HKD)

(1)

25,400‌

377‌

MINISO

Group

Holding,

ADR

(USD)

(1)(4)

201,659‌

6,352‌

Tencent

Holdings

(HKD)

171,400‌

15,272‌

Wuxi

Biologics

Cayman

(HKD)

(1)

385,000‌

5,391‌

Yatsen

Holding,

ADR

(USD)

(1)

355,522‌

6,823‌

99,589‌

Common

Stocks

-

China

A

Shares

0.9%

Gree

Electric

Appliances

of

Zhuhai,

A

Shares

(CNH)

582,480‌

5,050‌

NARI

Technology,

A

Shares

(CNH)

1,976,000‌

8,962‌

14,012‌

Total

China

(Cost

$78,518

)

113,601‌

DENMARK

0.3%

Common

Stocks

0.3%

Genmab,

ADR

(USD)

(1)

129,700‌

5,147‌

Total

Denmark

(Cost

$5,668

)

5,147‌

FRANCE

1.2%

Common

Stocks

1.2%

EssilorLuxottica

47,210‌

6,678‌

Eurofins

Scientific

(1)

114,182‌

10,960‌

Total

France

(Cost

$11,885

)

17,638‌

GERMANY

7.1%

Common

Stocks

6.6%

Delivery

Hero

(1)

66,348‌

10,077‌

Evotec

(1)(4)

561,164‌

22,059‌

flatexDEGIRO

(1)

67,290‌

6,217‌

Infineon

Technologies

307,334‌

12,313‌

Shop

Apotheke

Europe

(1)

33,973‌

7,931‌

Siemens

58,935‌

9,132‌

Symrise

87,175‌

10,848‌

TeamViewer

(1)

111,162‌

5,749‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

3

Shares

$

Value

(Cost

and

value

in

$000s)

Zalando

(1)

131,470‌

15,075‌

99,401‌

Preferred

Stocks

0.5%

Sartorius

(5)

14,317‌

7,117‌

7,117‌

Total

Germany

(Cost

$67,936

)

106,518‌

HONG

KONG

0.8%

Common

Stocks

0.8%

AIA

Group

686,200‌

8,273‌

Galaxy

Entertainment

Group

545,000‌

4,112‌

Total

Hong

Kong

(Cost

$9,486

)

12,385‌

INDIA

4.5%

Common

Stocks

4.4%

Axis

Bank

(1)

641,450‌

5,844‌

Britannia

Industries

81,614‌

3,915‌

Godrej

Consumer

Products

359,065‌

3,683‌

Havells

India

423,393‌

6,050‌

HDFC

Asset

Management

80,138‌

3,164‌

HDFC

Bank

(1)

350,612‌

6,693‌

HDFC

Bank,

ADR

(USD)

(1)

97,888‌

7,058‌

Housing

Development

Finance

171,799‌

5,587‌

Kotak

Mahindra

Bank

(1)

509,842‌

11,926‌

One97

Communications,

Acquisition

Date:

12/3/19,

Cost

$1,563

(USD)

(1)(2)(3)

6,139‌

1,565‌

Pidilite

Industries

168,742‌

3,888‌

Think

&

Learn,

Acquisition

Date:

12/23/20

-

1/15/21,

Cost

$1,309

(1)(2)(3)

821‌

1,454‌

United

Spirits

(1)

639,458‌

5,069‌

65,896‌

Convertible

Preferred

Stocks

0.1%

Think

&

Learn,

Series

F,

Acquisition

Date:

12/23/20,

Cost

$1,644

(1)(2)(3)

511‌

1,662‌

1,662‌

Total

India

(Cost

$49,505

)

67,558‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

4

Shares

$

Value

(Cost

and

value

in

$000s)

INDONESIA

1.3%

Common

Stocks

1.3%

Bank

Central

Asia

4,110,100‌

9,885‌

Kalbe

Farma

22,600,600‌

2,356‌

Sumber

Alfaria

Trijaya

77,265,500‌

4,293‌

Unilever

Indonesia

5,577,900‌

2,748‌

Total

Indonesia

(Cost

$15,385

)

19,282‌

ITALY

0.4%

Common

Stocks

0.4%

DiaSorin

29,496‌

6,450‌

Total

Italy

(Cost

$5,814

)

6,450‌

JAPAN

1.5%

Common

Stocks

1.5%

Daiichi

Sankyo

86,300‌

2,778‌

FANUC

8,300‌

2,167‌

Keyence

14,900‌

8,000‌

Recruit

Holdings

97,300‌

4,232‌

Sumitomo

Metal

Mining

118,000‌

5,116‌

Total

Japan

(Cost

$12,578

)

22,293‌

NETHERLANDS

1.7%

Common

Stocks

1.7%

Adyen

(1)

3,007‌

6,282‌

Argenx,

ADR

(USD)

(1)

17,406‌

5,100‌

ASML

Holding

(USD)

15,078‌

8,054‌

Koninklijke

DSM

35,793‌

6,257‌

Total

Netherlands

(Cost

$12,071

)

25,693‌

NIGERIA

0.1%

Common

Stocks

0.1%

Nestle

Nigeria

517,381‌

1,970‌

Total

Nigeria

(Cost

$1,876

)

1,970‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

5

Shares

$

Value

(Cost

and

value

in

$000s)

PERU

0.7%

Common

Stocks

0.7%

Credicorp

(USD)

25,346‌

3,810‌

InRetail

Peru

(USD)

175,293‌

7,363‌

Total

Peru

(Cost

$7,126

)

11,173‌

PHILIPPINES

1.4%

Common

Stocks

1.4%

Ayala

Land

4,770,800‌

3,727‌

BDO

Unibank

1,919,223‌

4,008‌

Jollibee

Foods

714,980‌

2,636‌

SM

Investments

351,441‌

7,187‌

Universal

Robina

1,484,420‌

4,165‌

Total

Philippines

(Cost

$21,249

)

21,723‌

PORTUGAL

0.2%

Common

Stocks

0.2%

Galp

Energia

302,771‌

3,039‌

Total

Portugal

(Cost

$3,438

)

3,039‌

SINGAPORE

1.1%

Common

Stocks

1.1%

Sea,

ADR

(USD)

(1)

72,968‌

15,813‌

Total

Singapore

(Cost

$1,306

)

15,813‌

SOUTH

AFRICA

0.4%

Common

Stocks

0.4%

Naspers,

N

Shares

23,728‌

5,489‌

Total

South

Africa

(Cost

$3,989

)

5,489‌

SOUTH

KOREA

0.5%

Common

Stocks

0.5%

Samsung

Electronics

93,894‌

6,864‌

Total

South

Korea

(Cost

$3,778

)

6,864‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

6

Shares

$

Value

(Cost

and

value

in

$000s)

SWEDEN

0.9%

Common

Stocks

0.9%

Assa

Abloy,

B

Shares

311,982‌

7,716‌

Hexagon,

B

Shares

70,697‌

6,161‌

Total

Sweden

(Cost

$9,462

)

13,877‌

SWITZERLAND

2.2%

Common

Stocks

2.2%

Julius

Baer

Group

82,131‌

4,969‌

Lonza

Group

15,190‌

9,702‌

Partners

Group

Holding

5,494‌

6,487‌

Temenos

28,733‌

3,628‌

Zurich

Insurance

Group

22,062‌

8,822‌

Total

Switzerland

(Cost

$26,910

)

33,608‌

TAIWAN

0.4%

Common

Stocks

0.4%

Taiwan

Semiconductor

Manufacturing,

ADR

(USD)

54,200‌

6,586‌

Total

Taiwan

(Cost

$6,727

)

6,586‌

UNITED

KINGDOM

7.3%

Common

Stocks

7.3%

Ashtead

Group

130,100‌

6,529‌

ASOS

(1)

113,360‌

6,926‌

AstraZeneca,

ADR

(USD)

(4)

184,065‌

9,314‌

boohoo

Group

(1)(4)

1,857,312‌

8,586‌

Derwent

London

115,947‌

5,019‌

Experian

239,452‌

8,370‌

Farfetch,

Class

A

(USD)

(1)

146,697‌

8,984‌

HomeServe

371,713‌

5,299‌

London

Stock

Exchange

Group

72,925‌

8,657‌

Mondi

170,833‌

4,023‌

Next

(1)

52,002‌

5,490‌

Ocado

Group

(1)

251,007‌

9,528‌

Rentokil

Initial

(1)

924,981‌

6,278‌

THG

(1)

813,204‌

8,033‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

7

Shares

$

Value

(Cost

and

value

in

$000s)

Unilever

168,579‌

9,821‌

Total

United

Kingdom

(Cost

$82,058

)

110,857‌

UNITED

STATES

53.2%

Common

Stocks

51.0%

Agilent

Technologies

35,111‌

4,219‌

Alnylam

Pharmaceuticals

(1)

22,884‌

3,444‌

Alphabet,

Class

C

(1)

18,120‌

33,264‌

Amazon.com

(1)

14,991‌

48,064‌

American

Campus

Communities,

REIT

98,194‌

4,042‌

Amphenol,

Class

A

43,603‌

5,445‌

Apple

143,632‌

18,954‌

Atlassian,

Class

A

(1)

37,475‌

8,662‌

Avalara

(1)

33,018‌

4,953‌

AvalonBay

Communities,

REIT

56,100‌

9,182‌

Charles

Schwab

268,118‌

13,819‌

Chart

Industries

(1)

45,900‌

5,513‌

Chubb

59,018‌

8,597‌

Cigna

57,885‌

12,564‌

Clorox

39,900‌

8,357‌

Colgate-Palmolive

75,450‌

5,885‌

CoStar

Group

(1)

5,212‌

4,689‌

Coupa

Software

(1)

18,052‌

5,594‌

Crowdstrike

Holdings,

Class

A

(1)

26,519‌

5,723‌

Danaher

53,205‌

12,654‌

Datadog,

Class

A

(1)

61,464‌

6,315‌

DocuSign

(1)

23,275‌

5,420‌

DoorDash,

Class

A

(1)(4)

30,542‌

5,903‌

Eli

Lilly

&

Company

53,600‌

11,147‌

EOG

Resources

85,913‌

4,378‌

EPAM

Systems

(1)

17,800‌

6,131‌

Epic

Games,

Acquisition

Date:

6/18/20,

Cost

$3,528

(1)(2)(3)

6,136‌

3,528‌

Estee

Lauder,

Class

A

22,890‌

5,417‌

Etsy

(1)

59,629‌

11,871‌

Facebook,

Class

A

(1)

88,368‌

22,828‌

FedEx

45,300‌

10,661‌

Fifth

Third

Bancorp

188,772‌

5,461‌

Fiserv

(1)

119,992‌

12,322‌

General

Electric

954,587‌

10,195‌

Global

Payments

68,800‌

12,145‌

Goldman

Sachs

Group

61,987‌

16,809‌

HCA

Healthcare

36,969‌

6,007‌

IDEX

35,900‌

6,684‌

Incyte

(1)

55,482‌

4,979‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

8

Shares

$

Value

(Cost

and

value

in

$000s)

International

Paper

76,775‌

3,863‌

Intuit

31,613‌

11,420‌

Intuitive

Surgical

(1)

10,478‌

7,834‌

KKR

258,706‌

10,077‌

Linde

35,488‌

8,709‌

MarketAxess

Holdings

3,521‌

1,904‌

Marsh

&

McLennan

86,601‌

9,518‌

Microsoft

60,064‌

13,932‌

MongoDB

(1)

11,100‌

4,103‌

Morgan

Stanley

245,163‌

16,438‌

Netflix

(1)

19,039‌

10,136‌

NextEra

Energy

186,096‌

15,050‌

NVIDIA

5,800‌

3,014‌

Okta

(1)

21,853‌

5,660‌

Packaging

Corp.

of

America

51,100‌

6,871‌

Paycom

Software

(1)

11,876‌

4,510‌

PayPal

Holdings

(1)

25,924‌

6,074‌

Peloton

Interactive,

Class

A

(1)

36,200‌

5,290‌

PPD

(1)

242,234‌

7,790‌

Quidel

(1)

39,798‌

9,988‌

Roper

Technologies

37,298‌

14,655‌

salesforce.com

(1)

51,599‌

11,639‌

Sempra

Energy

95,938‌

11,873‌

ServiceNow

(1)

17,312‌

9,403‌

Snap,

Class

A

(1)

176,402‌

9,339‌

Snowflake,

Class

A

(1)

13,567‌

3,696‌

Splunk

(1)

38,940‌

6,426‌

Stripe,

Class

B,

Acquisition

Date:

12/17/19,

Cost

$296

(1)(2)(3)

18,846‌

296‌

Stryker

32,868‌

7,264‌

Teladoc

Health

(1)

24,610‌

6,493‌

Teledyne

Technologies

(1)

23,013‌

8,216‌

Tesla

(1)

6,545‌

5,194‌

Thermo

Fisher

Scientific

12,589‌

6,417‌

Tradeweb

Markets,

Class

A

99,362‌

6,040‌

Trimble

(1)

102,900‌

6,782‌

Uipath,

Acquisition

Date:

12/11/20,

Cost

$241

(1)(2)(3)

8,269‌

515‌

UnitedHealth

Group

22,544‌

7,520‌

Veeva

Systems,

Class

A

(1)

27,080‌

7,486‌

Vertex

Pharmaceuticals

(1)

33,419‌

7,656‌

Visa,

Class

A

58,823‌

11,367‌

Waste

Connections

92,322‌

9,095‌

Wayfair,

Class

A

(1)(4)

36,000‌

9,803‌

Wells

Fargo

426,261‌

12,737‌

Welltower,

REIT

74,900‌

4,539‌

Weyerhaeuser,

REIT

156,791‌

4,890‌

Wix.com

(1)

18,552‌

4,583‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

9

Shares

$

Value

(Cost

and

value

in

$000s)

Workday,

Class

A

(1)

28,923‌

6,581‌

Zendesk

(1)

30,329‌

4,375‌

Zoom

Video

Communications,

Class

A

(1)

29,200‌

10,864‌

769,750‌

Convertible

Preferred

Stocks

2.2%

Aurora

Innovation,

Series

B,

Acquisition

Date:

3/1/19,

Cost

$605

(1)(2)(3)

65,500‌

1,287‌

Magic

Leap,

Series

D,

Acquisition

Date:

10/12/17,

Cost

$1,153

(1)(2)(3)

42,712‌

115‌

Rappi,

Series

E,

Acquisition

Date:

9/8/20,

Cost

$4,762

(1)(2)(3)

79,700‌

4,762‌

Rivian

Automotive,

Series

E,

Acquisition

Date:

7/10/20,

Cost

$5,756

(1)(2)(3)

371,582‌

13,693‌

Rivian

Automotive,

Series

F,

Acquisition

Date:

1/19/21,

Cost

$3,561

(1)(2)(3)

96,627‌

3,561‌

Sila

Nano,

Series

F,

Acquisition

Date:

1/7/21,

Cost

$846

(1)(2)(3)

20,496‌

846‌

SpaceX,

Series

K,

Acquisition

Date:

5/21/19,

Cost

$2,163

(1)(2)

(3)

10,605‌

2,863‌

Uipath,

Series

D-1,

Acquisition

Date:

4/26/19,

Cost

$753

(1)(2)(3)

57,435‌

3,577‌

Uipath,

Series

D-2,

Acquisition

Date:

4/26/19,

Cost

$126

(1)(2)(3)

9,645‌

601‌

Uipath,

Series

E,

Acquisition

Date:

7/9/20,

Cost

$27

(1)(2)(3)

1,435‌

89‌

Waymo,

Series

A-2,

Acquisition

Date:

5/8/20,

Cost

$2,587

(1)(2)

(3)

30,126‌

2,587‌

33,981‌

Total

United

States

(Cost

$559,257

)

803,731‌

VIETNAM

0.8%

Common

Stocks

0.8%

Masan

Group

1,964,175‌

7,256‌

Military

Commercial

Joint

Stock

Bank

(1)

3,943,261‌

3,996‌

Total

Vietnam

(Cost

$9,305

)

11,252‌

SHORT-TERM

INVESTMENTS

0.1%

Money

Market

Funds

0.1%

T.

Rowe

Price

Government

Reserve

Fund,

0.07%

(6)(7)

1,761,125‌

1,761‌

Total

Short-Term

Investments

(Cost

$1,761)

1,761‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

10

Shares

$

Value

(Cost

and

value

in

$000s)

SECURITIES

LENDING

COLLATERAL

3.1%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

JPMORGAN

CHASE

BANK

3.1%

Short-Term

Funds

3.1%

T.

Rowe

Price

Short-Term

Fund,

0.13%

(6)(7)

4,699,409‌

46,994‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

JPMorgan

Chase

Bank

46,994‌

Total

Securities

Lending

Collateral

(Cost

$46,994)

46,994‌

Total

Investments

in

Securities

103.1%

(Cost

$1,093,604)

$

1,557,915‌

Other

Assets

Less

Liabilities

(3.1)%

(47,451)

Net

Assets

100.0%

$

1,510,464‌

‡

Country

classifications

are

generally

based

on

MSCI

categories

or

another

unaffiliated

third

party

data

provider;

Shares

are

denominated

in

the

currency

of

the

country

presented

unless

otherwise

noted.

(1)

Non-income

producing

(2)

Level

3

in

fair

value

hierarchy.

(3)

Security

cannot

be

offered

for

public

resale

without

first

being

registered

under

the

Securities

Act

of

1933

and

related

rules

("restricted

security").

Acquisition

date

represents

the

day

on

which

an

enforceable

right

to

acquire

such

security

is

obtained

and

is

presented

along

with

related

cost

in

the

security

description.

The

fund

has

registration

rights

for

certain

restricted

securities.

Any

costs

related

to

such

registration

are

borne

by

the

issuer.

The

aggregate

value

of

restricted

securities

(excluding

144A

holdings)

at

period

end

amounts

to

$48,913

and

represents

3.2%

of

net

assets.

(4)

All

or

a

portion

of

this

security

is

on

loan

at

January

31,

2021.

(5)

Preferred

stocks

are

shares

that

carry

certain

preferential

rights.

The

dividend

rate

may

not

be

consistent

each

pay

period

and

could

be

zero

for

a

particular

year.

(6)

Seven-day

yield

(7)

Affiliated

Companies

ADR

American

Depositary

Receipts

CNH

Offshore

China

Renminbi

HKD

Hong

Kong

Dollar

REIT

A

domestic

Real

Estate

Investment

Trust

whose

distributions

pass-through

with

original

tax

character

to

the

shareholder

USD

U.S.

Dollar

T.

ROWE

PRICE

Global

Growth

Stock

Fund

11

The

accompanying

notes

are

an

integral

part

of

this

Portfolio

of

Investments.

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

three

months

ended

January

31,

2021.

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,

0.07%

$

—‌

$

—‌

$

1‌

T.

Rowe

Price

Short-Term

Fund,

0.13%

—‌

—‌

—‌

++

Totals

$

—‌

#

$

—‌

$

1‌

+

`0.00

`0.00

`0.00

Supplementary

Investment

Schedule

Affiliate

Value

10/31/20

Purchase

Cost

Sales

Cost

Value

01/31/21

T.

Rowe

Price

Government

Reserve

Fund,

0.07%

$

6,981‌

¤

¤

$

1,761‌

T.

Rowe

Price

Short-Term

Fund,

0.13%

30,371‌

¤

¤

46,994‌

Total

$

48,755‌

^

#

Capital

gain

distributions

from

mutual

funds

represented

$0

of

the

net

realized

gain

(loss).

++

Excludes

earnings

on

securities

lending

collateral,

which

are

subject

to

rebates

and

fees.

+

Investment

income

comprised

$1

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

$48,755.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Unaudited

Notes

to

the

Portfolio

of

Investments

12

T.

Rowe

Price

Global

Growth

Stock

Fund (the

fund) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act)

as

an

open-end

management

investment

company

and

follows

accounting

and

reporting

guidance

of

the

Financial

Accounting

Standards

Board

Accounting

Standards

Codification

Topic

946.

The

accompanying

Portfolio

of

Investments

was

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(GAAP).

For

additional

information

on

the

fund’s

significant

accounting

policies

and

investment

related

disclosures,

please

refer

to

the

fund’s most

recent

semiannual

or

annual

shareholder

report

and

its

prospectus. 

VALUATION 

Fair

Value

 The

fund’s

financial

instruments

are

valued

at

the

close

of

the

New

York

Stock

Exchange

(NYSE),

normally

4

p.m.

ET,

each

day

the

NYSE

is

open

for

business. The

fund’s

financial

instruments

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

T.

Rowe

Price

Valuation

Committee

(the

Valuation

Committee)

is

an

internal

committee

that

has

been

delegated

certain

responsibilities

by

the

fund’s

Board

of

Directors

(the

Board)

to

ensure

that

financial

instruments

are

appropriately

priced

at

fair

value

in

accordance

with

GAAP

and

the

1940

Act.

Subject

to

oversight

by

the

Board,

the

Valuation

Committee

develops

and

oversees

pricing-related

policies

and

procedures

and

approves

all

fair

value

determinations.

Specifically,

the

Valuation

Committee

establishes

policies

and

procedures

used

in

valuing

financial

instruments,

including

those

which

cannot

be

valued

in

accordance

with

normal

procedures

or

using

pricing

vendors;

determines

pricing

techniques,

sources,

and

persons

eligible

to

effect

fair

value

pricing

actions;

evaluates

the

services,

and

performance

of

the

pricing

vendors;

oversees

the

pricing

process

to

ensure

policies

and

procedures

are

being

followed;

and

provides

guidance

on

internal

controls

and

valuation-related

matters.

The

Valuation

Committee

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

T.

ROWE

PRICE

Global

Growth

Stock

Fund

13

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

fund's

own

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

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

fund

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

its

portfolio

securities.

Each

business

day,

the

fund

uses

information

from

outside

pricing

services

to

evaluate

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

fund

uses

outside

pricing

services

T.

ROWE

PRICE

Global

Growth

Stock

Fund

14

to

provide

it

with

quoted

prices

and

information

to

evaluate

or

adjust

those

prices.

The

fund

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.

Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

Investments

for

which

market

quotations

or

market-based

valuations

are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Committee,

in

accordance

with

fair

valuation

policies

and

procedures.

The

objective

of

any

fair

value

pricing

determination

is

to

arrive

at

a

price

that

could

reasonably

be

expected

from

a

current

sale.

Financial

instruments

fair

valued

by

the

Valuation

Committee

are

primarily

private

placements,

restricted

securities,

warrants,

rights,

and

other

securities

that

are

not

publicly

traded.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Committee

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

Committee

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

and

updated

as

information

becomes

available,

including

actual

purchase

and

sale

transactions

of

the

investment.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions,

and

fair

value

prices

determined

by

the

Valuation

Committee

could

differ

from

those

of

other

market

participants.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

15

Valuation

Inputs

 The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

January

31,

2021 (for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

Following

is

a

reconciliation

of

the

fund’s

Level

3

holdings

for

the

period ended

January

31,

2021.

Gain

(loss)

reflects

both

realized

and

change

in

unrealized

gain/loss

on

Level

3

holdings

during

the

period,

if

any.

The

change

in

unrealized

gain/loss

on

Level

3

instruments

held

at

January

31,

2021,

totaled $11,908,000 for

the

period ended

January

31,

2021.

During

the

period,

transfer

into

Level

3

resulted

from

a

lack

of

observable

market

data

for

the

security.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

935,830‌

$

517,300‌

$

10,401‌

$

1,463,531‌

Convertible

Preferred

Stocks

—‌

—‌

38,512‌

38,512‌

Preferred

Stocks

—‌

7,117‌

—‌

7,117‌

Short-Term

Investments

1,761‌

—‌

—‌

1,761‌

Securities

Lending

Collateral

46,994‌

—‌

—‌

46,994‌

Total

$

984,585‌

$

524,417‌

$

48,913‌

$

1,557,915‌

($000s)

Beginning

Balance

11/1/20

Gain

(Loss)

During

Period

Total

Purchases

Transfer

Into

Level

3

Ending

Balance

1/31/21

Investment

in

Securities

Common

Stocks

$

5,389‌

$

(429‌)

$

1,550‌

$

3,891‌

$

10,401‌

Convertible

Preferred

Stocks

20,124‌

12,337‌

6,051‌

—‌

38,512‌

Total

$

25,513‌

$

11,908‌

$

7,601‌

$

3,891‌

$

48,913‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

16

In

accordance

with

GAAP,

the

following

table

provides

quantitative

information

about

significant

unobservable

inputs

used

to

determine

the

fair

valuations

of

the

fund’s

Level

3

assets,

by

class

of

financial

instrument.

Because

the

Valuation

Committee

considers

a

wide

variety

of

factors

and

inputs,

both

observable

and

unobservable,

in

determining

fair

values,

the

unobservable

inputs

presented

do

not

reflect

all

inputs

significant

to

the

fair

value

determination.

#

No

quantitative

unobservable

inputs

significant

to

the

valuation

technique

were

created

by

the

fund’s

management.

*

Unobservable

inputs

were

weighted

by

the

relative

fair

value

of

the

instruments.

**

Represents

the

directional

change

in

the

fair

value

of

the

Level

3

investment(s)

that

would

have

resulted

from

an

increase

in

the

corresponding

input

at

period

end.

A

decrease

in

the

unobservable

input

would

have

had

the

opposite

effect.

Significant

increases

and

decreases

in

these

inputs

in

isolation

could

result

in

significantly

higher

or

lower

fair

value

measurements.

+

Valuation

techniques

may

change

in

order

to

reflect

management’s

judgment

of

current

market

participant

assumptions.

F174-054Q1

01/21 

($000s)

Market

Value

(000s)

Valuation

Technique(s)+

Significant

Unobservable

Input(s)

Value

or

Range

of

Input(s)

Weighted

Average

of

Input(s)*

Impact

to

Valuation

from

an

Increase

in

Input**

Investments

in

Securities

Common

Stock

$

10,401‌

Recent

comparable

transaction

price(s)

—#

—#

—#

—#

Rate

of

Return

15%

15%

Increase

Convertible

Preferred

Stocks

$

38,512‌

Recent

comparable

transaction

price(s)

—#

—#

—#

—#

Discount

for

Uncertainty

90%

90%

Decrease