AMENDMENT TO
INVESTMENT MANAGEMENT AGREEMENT
Between
T. ROWE PRICE EXCHANGE-TRADED FUNDS, INC.
and
T. ROWE PRICE ASSOCIATES, INC.
This Amendment (the “Amendment”) to the Investment Management Agreement is made as of the 6th day of February, 2025, by and between T. ROWE PRICE EXCHANGE-TRADED FUNDS, INC., a Maryland corporation (the “Corporation”), on behalf of its underlying series funds (the “Funds”), each a separate series of the Corporation, and T. ROWE PRICE ASSOCIATES, INC., a corporation organized and existing under the laws of the State of Maryland (hereinafter called the “Manager”).
W I T N E S S E T H:
WHEREAS, the parties hereto entered into an Investment Management Agreement dated as of October 28, 2019 (the “Agreement”);
WHEREAS, the Corporation’s Board of Directors, including a majority of the directors who are not interested persons of the Corporation, has approved, effective February 6, 2025, the creation and addition of the T. Rowe Price Financials ETF, T. Rowe Price Global Equity ETF, T. Rowe Price Health Care ETF, T. Rowe Price International Equity Research ETF, and T. Rowe Price Natural Resources ETF, each as a separate series of the Corporation;
WHEREAS, the parties hereto desire to amend the Agreement to make the changes set out below;
NOW, THEREFORE, in consideration of the premises and the mutual promises hereinafter set forth, the parties hereto agree as follows:
1. Schedule A to the Agreement is amended to read as follows:
Schedule A
This Agreement relates to the following Funds:
Fund Name | Effective Date of Agreement for the Fund | Annual Management Fee (as a percentage of average daily net assets) |
T. Rowe Price Blue Chip Growth ETF | October 28, 2019 | 0.57% |
T. Rowe Price Capital Appreciation Equity ETF | December 5, 2022 | 0.31% |
T. Rowe Price Capital Appreciation Premium Income ETF | October 24, 2024 | 0.34% |
T. Rowe Price Dividend Growth ETF | October 28, 2019 | 0.50% |
T. Rowe Price Equity Income ETF | October 28, 2019 | 0.54% |
T. Rowe Price Financials ETF | February 6, 2025 | 0.44% |
T. Rowe Price Floating Rate ETF | May 11, 2022 | 0.59% |
T. Rowe Price Global Equity ETF | February 6, 2025 | 0.46% |
T. Rowe Price Growth ETF | December 5, 2022 | 0.38% |
T. Rowe Price Growth Stock ETF | October 28, 2019 | 0.52% |
T. Rowe Price Health Care ETF | February 6, 2025 | 0.44% |
T. Rowe Price Hedged Equity ETF | October 24, 2024 | 0.46% |
T. Rowe Price Intermediate Municipal Income ETF | February 5, 2024 | 0.24% |
T. Rowe Price International Equity ETF | December 5, 2022 | 0.50% |
T. Rowe Price International Equity Research ETF | February 6, 2025 | 0.38% |
T. Rowe Price Natural Resources ETF | February 6, 2025 | 0.44% |
T. Rowe Price QM U.S. Bond ETF | July 27, 2021 | 0.08% |
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Fund Name | Effective Date of Agreement for the Fund | Annual Management Fee (as a percentage of average daily net assets) |
T. Rowe Price Small-Mid Cap ETF | December 5, 2022 | 0.55% |
T. Rowe Price Technology ETF | May 8, 2024 | 0.63% |
T. Rowe Price Total Return ETF | July 27, 2021 | 0.31% |
T. Rowe Price U.S. Equity Research ETF | February 3, 2021 | 0.34% |
T. Rowe Price U.S. High Yield ETF | May 11, 2022 | 0.56% |
T. Rowe Price Ultra Short-Term Bond ETF | July 27, 2021 | 0.17% |
T. Rowe Price Value ETF | December 5, 2022 | 0.33% |
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be signed by their respective officers thereunto duly authorized and their respective seals to be hereunto affixed, as of the day and year first above written.
Attest: | T. ROWE PRICE EXCHANGE-TRADED FUNDS, INC. |
/s/Cheryl L. Emory ___________________________________ |
/s/Fran Pollack-Matz By:___________________________________ |
Attest: | T. ROWE PRICE ASSOCIATES, INC. |
/s/Kathryn L. Reilly
___________________________________ | /s/Seba Kurian By:___________________________________ |
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