SEMIANNual REPORT June 30, 2016

T. Rowe Price

Equity Market Index Funds The funds invest to match the performance of their respective indexes.

T. R owe P rice E quity M arket I ndex F unds

HIGHLIGHTS • U.S. stocks generally moved higher during a volatile first half of 2016, with mid-cap shares performing the best. • The Equity Market Index Funds each tracked their unmanaged benchmarks for the six months ended June 30, 2016, and recorded positive results. • Using full replication and sampling strategies, we kept the composition and other attributes of the portfolios similar to those of their benchmarks. • Continued economic growth driven by consumer spending should be supportive for equities over the remainder of the year, although political uncertainty and changing expectations for Federal Reserve policy could trigger more volatility.

The views and opinions in this report were current as of June 30, 2016. They are not guarantees of performance or investment results and should not be taken as investment advice. Investment decisions reflect a variety of factors, and the managers reserve the right to change their views about individual stocks, sectors, and the markets at any time. As a result, the views expressed should not be relied upon as a forecast of the fund’s future investment intent. The report is certified under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to affirm that, to the best of their knowledge, the information in their financial reports is fairly and accurately stated in all material respects. REPORTS ON THE WEB Sign up for our Email Program, and you can begin to receive updated fund reports and prospectuses online rather than through the mail. Log in to your account at troweprice.com for more information.

T. Rowe Price Equity Market Index Funds Manager’s Letter

Fellow Shareholders Most major U.S. stock indexes rose in the first half of 2016, a period of significant global market volatility. Equity markets started the year with deep losses as oil prices collapsed to 13-year lows amid concerns about weakening Chinese and global economic growth. In fact, by mid-February, U.S. small-caps had fallen into a bear market, commonly defined as a drop of at least 20% from recent highs. However, equities and other risk assets rallied through late June as central banks in Japan and Europe unveiled new stimulus efforts. Also, the dollar weakened due to diminishing expectations for U.S. interest rate increases in 2016, and commodity prices rebounded sharply. As the period ended, global markets fluctuated wildly in response to the UK’s vote to leave the European Union. For the six months ended June 30, 2016, the Equity Index 500 Fund, Total Equity Market Index Fund, and Extended Equity Market Index Fund each recorded positive results.

Market Environment

While the U.S. economy grew at a sluggish 1.1% annual rate in the first quarter, the underlying trend of moderate expansion seems to remain in place. We believe growth is likely to rebound to roughly 2% over the balance of the year. The domestic labor market has been resilient in the face of unfavorable economic developments overseas. Although the pace slowed in the second quarter, jobs growth has been averaging 200,000 per month over the past year, and the national

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unemployment rate was 4.7% in May, its lowest level in more than eight years. Housing and retail sales data were solid. Existing home sales rose in May to the highest level since February 2007, and retail sales grew 3.1% compared with the same period in 2015. Headline inflation rose 1.0% in the 12-month period ended June 30. The consumer price index (CPI) stayed below the Fed’s 2% target, held down by a 9% drop in the energy category. Core CPI (which excludes volatile food and energy prices) has risen 2.3% over the most recent 12 months. After starting the year around $37 per barrel, West Texas Intermediate oil prices fell to below $27 in mid-February before climbing to about $50 by the end of June. The price rebound was attributed to speculation about global production cuts and, to a lesser extent, supply disruptions in Nigeria and Canada. Despite the 30% gain in the first half of 2016, oil prices have fallen about 19% since June 2015 amid a global supply glut. The Federal Reserve raised short-term rates in December, but due to the slowdown in economic activity and elevated global risks, the central bank has kept rates unchanged thus far in 2016. However, in June, the Fed’s policymaking committee did slightly reduce its growth outlook for the remainder of this year and for 2017 and adjusted its policy normalization plan to a more gradual path. We believe that another Fed rate hike is possible this year if the labor market recovery persists and measures of domestic demand strengthen. In the U.S., mid-cap shares decisively outperformed their larger and smaller counterparts. Stocks in the telecommunication services and utilities sectors outperformed other sectors, helped by investors seeking attractive income versus low-yielding fixed income alternatives. After losing ground in 2015, energy stocks rallied with crude oil prices, and shares of consumer staples companies also produced solid gains. Financial stocks underperformed as the expected rise in U.S. interest rates, which could help banks make more profitable loans, failed to materialize. Turmoil in Europe’s banking sector also weighed on U.S. financials. Health care and information technology stocks also lagged.

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Summary of Investment Strategies

T. Rowe Price’s Equity Market Index Funds Extended Equity Total Equity Equity are designed for As of 6/30/16 Index 500 Market Index Market Index investors who Investment- want to harness Weighted Median the potential for Market Cap (billions) $82.7 $53.8 $3.5 long-term capital Earnings Growth appreciation from Rate Estimated broad exposure to Next 5 Years* 9.2% 9.6% 11.5% large-cap stocks (Equity Index 500 P/E Ratio (based on next 12 months’ Fund), small- and estimated earnings)* 18.4X 18.5X 20.6X mid-cap stocks (Extended Equity *Source for data: IBES. Forecasts are in no way indicative of Market Index future investment returns. Fund), or the entire U.S. stock market (Total Equity Market Index Fund). These funds could serve as core holdings in an investor’s portfolio as they offer attributes that many investors will find appealing. P ortfolio C haracteristics

• They are well diversified, which can reduce the potentially negative impact of a given stock on the entire portfolio. The Equity Index 500 Fund invests in all S&P 500 Index stocks, while the Total Equity Market Index Fund and the Extended Equity Market Index Fund owned 1,403 and 1,619 holdings, respectively, as of June 30, 2016. (Diversification cannot assure a profit or protect against loss in a declining market.) • They tend to closely track their benchmarks. The Equity Index 500 Fund uses a full replication strategy so that the weightings of our holdings match those of the S&P 500. The Total Equity Market Index Fund and the Extended Equity Market Index Fund use a sampling strategy to approximate the sector allocations, price-to-earnings ratio, and other attributes of their benchmarks. We occasionally invest in securities such as futures and exchange-traded funds so that the index funds can accommodate cash flows and remain fully invested.

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• They offer instant, broad exposure to different sectors of the stock market, and each fund’s sector allocations are consistent with its benchmark’s sector breakdown. As such, changes in the funds’ sector diversification and other overall characteristics reflect changes in the composition of the indexes, rather than strategic shifts that are typical of an actively managed fund. Since the funds are designed to track their respective indexes, they do not have the flexibility to shift assets toward stocks or sectors that are rising or away from those that are declining. • Their expenses are generally low, which allows investors to retain more of their returns. Equity Index 500 Fund

The Equity Index 500 Fund returned 3.70% in the six months ended June 30, 2016, versus 3.84% for the S&P 500 Index. (Performance will vary for the I Class shares, reflecting their different fee structure.) Fund performance tends to slightly lag that of the benchmark due to operating and management expenses. The majority of names in the index recorded positive results for the six-month period. The telecommunication services sector posted strong gains, returning nearly 25%, and utilities and energy—in a reversal from last year—also posted solid returns. Financials and P erformance C omparison information technology were the only sectors Six-Month Period Ended 6/30/16 Total Return to lose ground during Equity Index 500 Fund 3.70% the period. Equity Index 500 Fund–I Class



3.80

S&P 500 Index



3.84

Telecom services companies AT&T and Verizon Communications, the top wireless phone operators in the U.S., were two of the fund’s largest contributors during the period. While they reported earnings in line with expectations and have low growth profiles, the companies’ attractive dividends combined with their relative insulation from volatility outside the U.S. led to strong performance. A similar story led to outperformance in the utilities sector, where top contributors included Florida-based NextEra Energy and North Carolina-based Duke Energy. (Please refer to the fund’s portfolio of investments for a complete list of holdings and the amount each represents in the portfolio.)

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Energy stocks were also among the best performers in this year’s first half, a dramatic change from 2015 when oil and natural gas prices collapsed amid concerns of excess supply and slowing global growth. Global oil companies ExxonMobil and Chevron ranked among the fund’s top contributors. Both stocks rallied as U.S. oil prices rebounded from February’s lows and S & P 500 I ndex R eturns by S ector crossed the $50 per barrel Six-Month Period Ended 6/30/16 threshold in June for the first time in nearly a year. Consumer Discretionary 0.68% Consumer Staples



10.46

Energy



16.10

Financials



-3.05

Health Care



0.42

Industrials and Business Services



6.46

Information Technology



-0.32

Materials



7.46

Telecommunication Services



24.85

Utilities



23.41

S & P 500 I ndex S ector A llocations Periods Ended

12/31/15

6/30/16

Information Technology

20.6%

19.7%

Financials

16.5

15.8

Health Care

15.1

15.0

Consumer Discretionary

12.9

12.3

Consumer Staples

10.1

10.6

Industrials and Business Services

10.1

9.9

Energy

6.5

7.4

Utilities

3.0

3.6

Telecommunication Services

2.4

2.9

Materials

2.8

2.8

 istorical weightings reflect current industry/sector H classifications.

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Several of the fund’s biggest detractors were banks, such as Bank of America, Wells Fargo, and Citigroup. The sector faced downward pressure amid concerns ranging from nonperforming loans to energy companies, difficult trading conditions in the first quarter, and low interest rates globally. June’s Brexit referendum dealt another blow to financials as investors worried that the decision would hurt economic growth in the UK and Europe and spur global central banks to further ease monetary policy, which would push interest rates even lower worldwide and severely impact banks’ profitability and stability. In the IT sector, Apple was among the weakest performers. The company’s shares have slid since mid-2015

as iPhone sales have dropped, increasing investor concerns that its high-growth days are over. Apple was one of the so-called FANG stocks that were notably strong performers amid the generally tepid market results in 2015. In the first half of 2016, the other members of the group have experienced divergent results. Along with Apple, Alphabet (parent company of Google) and Netflix have struggled, while Facebook and Amazon.com remained top contributors. S&P Dow Jones Indices authorized several additions and deletions to the composition of the S&P 500 Index during the period. Please see The Evolving S&P 500 Index table on page 17 for a complete list of index changes. Total Equity Market Index Fund

The Total Equity Market Index Fund returned 3.56% for the six months ended June 30, 2016, versus 3.57% for its benchmark, the S&P Total Market P erformance C omparison Index. Fund performance often slightly trails Six-Month Period Ended 6/30/16 Total Return that of the benchmark Total Equity Market Index Fund 3.56% due to operating and S&P Total Market Index 3.57 management expenses. The S&P Total Market Index represents the S & P T otal M arket I ndex entire U.S. stock market. R eturns by S ector It combines the S&P 500 and S&P Completion Six-Month Period Ended 6/30/16 Indexes, offering broad Consumer Discretionary 0.24% exposure to large-, mid-, Consumer Staples 10.47 small-, and micro-cap companies. Stocks in the Energy 15.29 S&P 500 represent about Financials -1.10 80% of the S&P Total Health Care -1.43 Market Index’s overall Industrials and Business Services 6.30 market value. Information Technology



-0.46

Materials



9.93

Telecommunication Services



23.53

Utilities



23.75

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As with the S&P 500, the largest holdings of the S&P Total Market Index have the greatest influence on the fund’s performance.

In addition, the sector percentage weightings of the two benchmarks Periods Ended 12/31/15 6/30/16 are similar, although Information Technology 19.9% 19.1% the S&P Total Market Financials 18.2 17.5 Index provides modestly greater exposure to Health Care 14.8 14.5 financials than the S&P Consumer Discretionary 13.4 12.8 500 and less exposure to Industrials and consumer staples. The top Business Services 10.6 10.4 performers of the S&P Consumer Staples 8.8 9.3 Total Market Index were generally in line with Energy 5.9 6.8 the S&P 500, led by the Utilities 3.1 3.7 utilities, telecom services, Materials 3.1 3.3 and energy sectors. Telecommunication Services 2.2 2.6 After being the strongest performer in the index in Historical weightings reflect current industry/sector 2015, health care recorded classifications. the weakest results in the first half of 2016 due to poor results from some smaller biotech companies that are not included in the S&P 500; the financials sector also underperformed. S & P T otal M arket I ndex S ector A llocations

Extended Equity Market Index Fund

The Extended Equity Market Index Fund returned 2.25% for the six months ended June 30, 2016, versus 2.44% for its benchmark, the S&P Completion Index. Fund performance tends to slightly lag that of the benchmark because of the fund’s operating and P erformance C omparison management expenses. Six-Month Period Ended 6/30/16 Total Return The S&P Completion Extended Equity Market Index Fund 2.25% Index, a subset of the S&P Total Market S&P Completion Index 2.44 Index, excludes all S&P 500 stocks. The index covers more than 3,300 companies and provides exposure to mid-, small-, and micro-cap companies. Financial, information technology, and consumer discretionary companies make up nearly 60% of the benchmark.

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S & P C ompletion I ndex R eturns by S ector Six-Month Period Ended 6/30/16



Consumer Discretionary



-1.57%

Consumer Staples



10.84

Energy



9.72

Financials



4.67

Health Care



-10.46

Industrials and Business Services



5.55

Information Technology



-1.18

Materials



16.68

Telecommunication Services



11.02

Utilities



25.16

S & P C ompletion I ndex S ector A llocations Periods Ended

12/31/15

6/30/16

Financials

26.0%

25.8%

Information Technology

16.8

16.6

Consumer Discretionary

15.4

15.1

Industrials and Business Services

12.9

12.5

Health Care

13.5

11.9

4.4

5.3

Materials Utilities

3.4

4.1

Energy

3.3

3.8

Consumer Staples

3.2

3.6

Telecommunication Services

1.1

1.3

 istorical weightings reflect current industry/sector H classifications.

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Sector results among mid- and small-caps were driven by themes similar to the ones seen in the large-cap universe as investors sought out less risky, higher-yielding stocks and commodity prices rebounded. The utilities sector gained more than 25% for the quarter, while materials, telecom services, and consumer staples also had solid returns and advanced more than 10%. Some of the topperforming companies in the fund included oil and gas producer Continental Resources; Digital Realty Trust, a real estate investment trust that manages data centers; and food processor Ingredion. (Please refer to the fund’s portfolio of investments for a complete list of holdings and the amount each represents in the portfolio.) Health care was the weakest sector by a wide margin, and consumer discretionary and information technology also

lost ground during the period. Within health care, political rhetoric regarding drug pricing has weighed on biotechnology and pharmaceutical stocks, and there have also been a number of fundamental and clinical disappointments that have hurt the sector over the past six months. Pharmaceutical firms Alkermes, Ionis Pharmaceuticals, and Incyte were among the fund’s weakest performers. Outlook

Gradual improvement in U.S. economic activity is supported by solid private sector demand, reinforced by an improving job market and increasing wages. Despite industrial weakness, continued growth driven by consumer spending should be supportive for equities over the remainder of the year, although valuations of many companies are trending above historical averages and political uncertainty and changing expectations for Federal Reserve policy could trigger more volatility. U.S. corporate earnings continue to be hampered by weakness in the energy and materials sectors, with second-quarter 2016 year-over-year growth expected to contract for the fifth straight quarter. However, consensus estimates forecast a rebound in earnings in the third and fourth quarters of this year. While corporate leverage has increased, balance sheets, apart from energy-related sectors, remain broadly healthy and provide the corporate sector flexibility in the use of capital to increase spending, engage in merger and acquisition activity, and return earnings to shareholders.

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Thank you for investing with T. Rowe Price. Respectfully submitted,

Ken D. Uematsu Chairman of the Investment Advisory Committee, Equity Index 500 Fund, Extended Equity Market Index Fund, and Total Equity Market Index Fund July 19, 2016 The committee chairman has day-to-day responsibility for managing the portfolios and works with committee members in developing and executing the funds’ investment programs. Effective May 1, 2016, Fred Bair stepped down as co-portfolio manager of the Equity Market Index Funds and co-portfolio manager Ken Uematsu became the funds’ sole portfolio manager. This change allows Fred to focus on the management of T. Rowe Price’s global Portfolio Modeling Group; he will also remain a member of the funds’ Investment Advisory Committee. Ken had been cochairman since 2008. He joined the firm in 1997, and his investment experience dates from 1995.

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T. Rowe Price Equity Index 500 Fund Supplement to Prospectus Dated May 1, 2016 The fund’s Board of Directors has approved lowering the fund’s expense limitation from 0.30% to 0.25%, effective September 1, 2016. On page 1, the fee table and expense example are revised as follows, effective September 1, 2016, to reflect the reduction of the expense limitation: Fees and Expenses of the Fund Shareholder fees (fees paid directly from your investment) Maximum sales charge (load) imposed on purchases NONE Maximum deferred sales charge (load)

NONE

Redemption fee (as a percentage of amount redeemed on shares held for 90 days or less)

0.50% $20

Maximum account fee

a

Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Management fees

0.10%

Distribution and service (12b-1) fees

0.00%

Other expenses

0.17%

Total annual fund operating expenses

0.27%

Fee waiver/expense reimbursement

(0.02)%

Total annual fund operating expenses after fee waiver/expense reimbursement

0.25%

b,c

b,c

a Subject to certain exceptions, accounts with a balance of less than $10,000 are charged an annual $20 fee. b Restated to reflect current fees. c T. Rowe Price Associates, Inc. has agreed (through April 30, 2019) to waive its fees and/or bear any expenses

(excluding interest, expenses related to borrowings, taxes and brokerage, extraordinary expenses, and acquired fund fees) that would cause the fund’s ratio of expenses to average daily net assets to exceed 0.25%. The agreement may be terminated at any time beyond April 30, 2019, with approval by the fund’s Board of Directors. Fees waived and expenses paid under this agreement (and a previous limitation of 0.30%) are subject to reimbursement to T. Rowe Price Associates, Inc. by the fund whenever the fund’s expense ratio is below 0.25%. However, no reimbursement will be made more than 3 years after the waiver or payment, or if it would result in the expense ratio exceeding 0.25% (excluding interest, expenses related to borrowings, taxes and brokerage, extraordinary expenses, and acquired fund fees).

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Example This example is intended to help you compare the cost of investing in the

fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, the fund’s operating expenses remain the same, and the expense limitation currently in place is not renewed. The figures have been adjusted to reflect fee waivers or expense reimbursements only in the periods for which the expense limitation arrangement is expected to continue. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 1 year $26

3 years $81

5 years $146

10 years $338

Additionally, effective September 1, 2016, the second paragraph under the heading, “The Management Fee,” relating to the fund’s previous expense limitation of 0.30% is removed from pages 29 and 30 of the prospectus. The date of this supplement is August 10, 2016. F50-041

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8/10/16

T. Rowe Price Equity Market Index Funds

R isks of I nvesting As with all stock mutual funds, the funds’ share prices can fall because of weakness in the stock market, a particular industry, or specific holdings. Stock markets can decline for many reasons, including adverse political or economic developments, changes in investor psychology, or heavy institutional selling. The prospects for an industry or company may deteriorate because of a variety of factors, including disappointing earnings or changes in the competitive environment. G lossary Investment-weighted median market capitalization: The investment-weighted midpoint market capitalization (shares outstanding multiplied by current price) representing a typical security in a portfolio. An investment-weighted median represents the breakpoint where 50% of the values are above and 50% of the values are below based on portfolio weight. Price-to-earnings (P/E) ratio: A valuation measure calculated by dividing the price of a stock by its reported earnings per share. The ratio is a measure of how much investors are willing to pay for the company’s earnings. Projected earnings growth rate (IBES): A company’s expected earnings per share growth rate for a given time period based on the forecast from the Institutional Brokers’ Estimate System, which is commonly referred to as IBES. S&P 500 Index: An unmanaged index that tracks the stocks of 500 primarily large-cap U.S. companies. S&P Completion Index: Tracks the performance of the U.S. stocks not included in the S&P 500, which are primarily small- and mid-capitalization stocks. The index includes approximately 3,300 stocks. S&P Total Market Index: Tracks the performance of a broad spectrum of small-, mid-, and large-capitalization U.S. stocks. Because the largest stocks in the index carry the most weight, large-capitalization stocks make up a substantial majority of the S&P Total Market Index’s value. The index includes approximately 3,800 stocks.

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T. Rowe Price Equity Market Index Funds

P ortfolio H ighlights

TWENTY-FIVE LARGEST HOLDINGS

Equity Index 500 Fund



Percent of Net Assets 6/30/16

Apple Alphabet Microsoft ExxonMobil Johnson & Johnson



2.9% 2.3 2.2 2.1 1.8

GE Amazon.com Berkshire Hathaway AT&T Facebook



1.6 1.5 1.5 1.5 1.4

Verizon Communications JPMorgan Chase Procter & Gamble Wells Fargo Pfizer



1.2 1.2 1.2 1.2 1.2

Chevron Coca-Cola Merck Home Depot Philip Morris International



1.1 1.0 0.9 0.9 0.9

Comcast Intel PepsiCo Walt Disney Cisco Systems



0.9 0.8 0.8 0.8 0.8

Total

33.7%

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.

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T. Rowe Price Equity Market Index Funds

P ortfolio H ighlights

TWENTY-FIVE LARGEST HOLDINGS

Total Equity Market Index Fund



Percent of Net Assets 6/30/16

Apple Alphabet Microsoft ExxonMobil Johnson & Johnson



2.3% 1.8 1.8 1.7 1.4

GE Amazon.com Facebook Berkshire Hathaway AT&T



1.3 1.2 1.2 1.2 1.1

Verizon Communications JPMorgan Chase Procter & Gamble Pfizer Wells Fargo



1.0 1.0 1.0 0.9 0.9

Chevron Coca-Cola Merck Comcast Philip Morris International



0.9 0.8 0.7 0.7 0.7

Home Depot PepsiCo Intel Cisco Systems Walt Disney



0.7 0.7 0.7 0.6 0.6

Total

26.9%

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.

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T. Rowe Price Equity Market Index Funds

P ortfolio H ighlights

TWENTY-FIVE LARGEST HOLDINGS

Extended Equity Market Index Fund



Percent of Net Assets 6/30/16

Charter Communications Liberty Global Tesla Motors LinkedIn Las Vegas Sands



1.2% 0.7 0.6 0.5 0.4

Incyte Markel BioMarin Pharmaceutical T-Mobile US SBA Communications



0.4 0.3 0.3 0.3 0.3

Hilton Worldwide Holdings FleetCor Technologies ServiceNow DISH Network Celanese



0.3 0.3 0.3 0.3 0.3

Palo Alto Networks Maxim Integrated Products Medivation Bunge Limited Regency Centers



0.2 0.2 0.2 0.2 0.2

Ingredion Mettler-Toledo International Annaly Capital Management Twitter Jazz Pharmaceuticals



0.2 0.2 0.2 0.2 0.2

Total

8.5%

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.

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T. Rowe Price Equity Market Index Funds

T he E volving S & P 500 I ndex Changes in the index in 2016

Additions Deletions Acuity Brands Alaska Air Group American Water Works Arthur J. Gallagher Centene Citizens Financial Group Concho Resources Digital Realty Trust Extra Space Storage Federal Realty Investment Trust Foot Locker Fortune Brands Home & Security Global Payments Hologic LKQ TransDigm Group UDR Ulta Willis Towers Watson

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ADT Airgas Baxalta Broadcom Cablevision Systems Cameron International Chubb Coca-Cola Enterprises CONSOL Energy Ensco Fossil Group GameStop Keurig Green Mountain Pepco Holdings Plum Creek Timber Precision Castparts SanDisk Tenet Healthcare Time Warner Cable

T. Rowe Price Equity Market Index Funds Performance and Expenses G rowth 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 may include a broad-based market index and 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.

EQUITY INDEX 500 FUND As of 6/30/16 $30,000

Equity Index 500 Fund $19,974

26,000

S&P 500 Index $20,465

22,000 18,000 14,000 10,000

6/06

6/07

6/08

6/09

6/10

6/11

6/12

6/13

6/14

6/15

6/16

Note: Performance for the I Class shares will vary due to their differing fee structure. See the returns table below.

A verage A nnual C ompound T otal R eturn Periods Ended 6/30/16 Equity Index 500 Fund



1 Year

5 Years

10 Years

3.70%

11.81%

7.16%

Current performance may be higher or lower than the quoted past performance, which cannot guarantee future results. 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 I Class shares, 1-800-638-8790. The performance information shown does not reflect the deduction of a 0.5% redemption fee on shares held for 90 days or less; if it did, the performance would be lower. 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. 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. Equity Index 500 Fund–I Class has less than one year’s performance, as its inception date is 8/28/15. Its since-inception performance as of 6/30/16 was 7.39%.

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T. Rowe Price Equity Market Index Funds

G rowth 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 may include a broad-based market index and 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.

TOTAL EQUITY MARKET INDEX FUND As of 6/30/16 $30,000

Total Equity Market Index Fund $20,291

26,000

Linked Performance Benchmark* $20,412

22,000 18,000 14,000 10,000

6/06

6/07

6/08

6/09

6/10

6/11

6/12

6/13

6/14

6/15

6/16

*The linked performance benchmark reflects the performance of the Dow Jones Wilshire 5000 Composite Index to 3/31/07 and the performance of the S&P Total Market Index from 4/1/07 forward.

A verage A nnual C ompound T otal R eturn Periods Ended 6/30/16 Total Equity Market Index Fund



1 Year

5 Years

10 Years

2.16%

11.49%

7.33%

Current performance may be higher or lower than the quoted past performance, which cannot guarantee future results. 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. The performance information shown does not reflect the deduction of a 0.5% redemption fee on shares held for 90 days or less; if it did, the performance would be lower. 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. 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.

19

T. Rowe Price Equity Market Index Funds

G rowth 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 may include a broad-based market index and 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.

EXTENDED EQUITY MARKET INDEX FUND As of 6/30/16 $30,000

Extended Equity Market Index Fund $20,635

26,000

Linked Performance Benchmark* $20,599

22,000 18,000 14,000 10,000

6/06

6/07

6/08

6/09

6/10

6/11

6/12

6/13

6/14

6/15

6/16

*The linked performance benchmark reflects the performance of the Dow Jones Wilshire 4500 Completion Index to 3/31/07 and the performance of the S&P Completion Index from 4/1/07 forward.

A verage A nnual C ompound T otal R eturn Periods Ended 6/30/16 Extended Equity Market Index Fund



1 Year

5 Years

10 Years

-5.68%

9.47%

7.51%

Current performance may be higher or lower than the quoted past performance, which cannot guarantee future results. 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. The performance information shown does not reflect the deduction of a 0.5% redemption fee on shares held for 90 days or less; if it did, the performance would be lower. 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. 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.

20

T. Rowe Price Equity Market Index Funds

E xpense R atio Equity Index 500 Fund









0.27%

Equity Index 500 Fund–I Class









0.17

Total Equity Market Index Fund









0.30

Extended Equity Market Index Fund







0.35

The expense ratios shown are as of the funds’ fiscal year ended 12/31/15. These numbers may vary from the expense ratios shown elsewhere in this report because they are based on a different time period and, if applicable, include acquired fund fees and expenses but do not include fee or expense waivers.

F und E xpense E xample 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 Equity Index 500 Fund has two share classes: The original share class (Investor Class) charges no distribution and service (12b-1) fee, and I Class shares are also available to institutionally oriented clients and impose no 12b-1 or administrative fee payment. Each share class is presented separately in the table. 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.

21

T. Rowe Price Equity Market Index Funds

F und E xpense E xample ( continued ) 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.

E quity I ndex 500 F und Investor Class Actual

Beginning Account Value 1/1/16

Ending Account Value 6/30/16

Expenses Paid During Period* 1/1/16 to 6/30/16

$1,000.00

$1,037.00

$1.37

Hypothetical (assumes 5% return before expenses)

1,000.00

1,023.52

1.36

I Class Actual

1,000.00

1,038.00

0.51

Hypothetical (assumes 5% return before expenses)

1,000.00

1,024.37

0.50

*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 (182), and divided by the days in the year (366) to reflect the half-year period. The annualized expense ratio of the Investor Class was 0.27%, and the I Class was 0.10%.

22

T. Rowe Price Equity Market Index Funds

F und E xpense E xample ( continued ) T otal E quity M arket I ndex F und

Beginning Account Value 1/1/16

Ending Account Value 6/30/16

Expenses Paid During Period* 1/1/16 to 6/30/16

$1,000.00

$1,035.60

$1.52

1,000.00

1,023.37

1.51

Actual Hypothetical (assumes 5% return before expenses)

*Expenses are equal to the fund’s annualized expense ratio for the 6-month period (0.30%), multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year (182), and divided by the days in the year (366) to reflect the half-year period.

E xtended E quity M arket I ndex F und Actual Hypothetical (assumes 5% return before expenses)

Beginning Account Value 1/1/16

Ending Account Value 6/30/16

Expenses Paid During Period* 1/1/16 to 6/30/16

$1,000.00

$1,022.50

$1.76

1,000.00

1,023.12

1.76

*Expenses are equal to the fund’s annualized expense ratio for the 6-month period (0.35%), multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year (182), and divided by the days in the year (366) to reflect the half-year period.

23

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T. Rowe Price Mutual Funds This page contains supplementary information that is not part of the shareholder report.

STOCK FUNDS

BOND FUNDS

MONEY MARKET FUNDS (cont.)

Domestic

Domestic Taxable

Tax-Free

Corporate Income Credit Opportunities Floating Rate GNMA High Yield‡ Inflation Protected Bond Limited Duration Inflation Focused Bond New Income Short-Term Bond Ultra Short-Term Bond U.S. Bond Enhanced Index U.S. Treasury Intermediate U.S. Treasury Long-Term

California Tax-Free Money1 Maryland Tax-Free Money1 New York Tax-Free Money1 Summit Municipal Money Market1 Tax-Exempt Money1

Blue Chip Growth Capital Appreciation‡ Capital Opportunity Diversified Mid-Cap Growth Dividend Growth Equity Income Equity Index 500 Extended Equity Market Index Financial Services Growth & Income Growth Stock Health Sciences‡ Media & Telecommunications Mid-Cap Growth‡ Mid-Cap Value‡ New America Growth New Era New Horizons‡ QM U.S. Small & Mid-Cap Core Equity QM U.S. Small-Cap Growth Equity QM U.S. Value Equity Real Estate Science & Technology Small-Cap Stock‡ Small-Cap Value Tax-Efficient Equity Total Equity Market Index U.S. Large-Cap Core Value

ASSET ALLOCATION FUNDS Balanced Global Allocation Personal Strategy Balanced Personal Strategy Growth Personal Strategy Income Real Assets Spectrum Growth Spectrum Income Spectrum International Target Date Fundsˆ

Domestic Tax-Free California Tax-Free Bond Georgia Tax-Free Bond Intermediate Tax-Free High Yield Maryland Short-Term Tax-Free Bond Maryland Tax-Free Bond New Jersey Tax-Free Bond New York Tax-Free Bond Summit Municipal Income Summit Municipal Intermediate Tax-Free High Yield Tax-Free Income Tax-Free Short-Intermediate Virginia Tax-Free Bond

MONEY MARKET FUNDS Taxable Cash Reserves1 Government Money2 U.S. Treasury Money2

INTERNATIONAL/GLOBAL FUNDS Stock Africa & Middle East Asia Opportunities Emerging Europe Emerging Markets Stock Emerging Markets Value Stock European Stock Global Consumer Global Growth Stock Global Industrials Global Real Estate Global Stock Global Technology International Concentrated Equity International Discovery International Equity Index International Growth & Income International Stock Japan Latin America New Asia Overseas Stock QM Global Equity

Bond Emerging Markets Bond Emerging Markets Corporate Bond Emerging Markets Local Currency Bond Global High Income Bond Global Multi-Sector Bond Global Unconstrained Bond International Bond

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. ‡Closed  to new investors except for a direct rollover from a retirement plan into a T. Rowe Price IRA invested in this fund. ˆThe Target Date Funds are inclusive of the Retirement Funds, the Target Funds, and the Retirement Balanced Fund.

Retail Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Beginning October 14, 2016, the Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. 2 Government Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. 1

T. Rowe Price Investment Services, Inc. 100 East Pratt Street Baltimore, MD 21202 2016-US-24648

C50-051 8/16

SEMIANNual REPORT

Financial Statements June 30, 2016

PEXMX

T. Rowe Price

Extended Equity Market Index Fund

T. Rowe Price Extended Equity Market Index Fund Unaudited

F inancial H ighlights

For a share outstanding throughout each period

6 Months Year Ended Ended 6/30/16 12/31/15 12/31/14 12/31/13 12/31/12 12/31/11

NET ASSET VALUE Beginning of period

$ 23.06

$ 25.01

$ 24.41

$ 18.21

$ 15.53

$ 16.23

0.12

0.25

0.27

0.20

0.22

0.12

0.40

(1.09)

1.55

6.75

2.72

(0.71)

0.52

(0.84)

1.82

6.95

2.94

(0.59)

– – –

(0.22) (0.89) (1.11)

(0.27) (0.95) (1.22)

(0.18) (0.57) (0.75)

(0.23) (0.03) (0.26)

(0.11) – (0.11)

Investment activities Net investment (1) income Net realized and unrealized gain / loss Total from investment activities Distributions Net investment income Net realized gain Total distributions

NET ASSET VALUE End of period

$ 23.58

$ 23.06

$ 25.01

$ 24.41

$ 18.21

$ 15.53

(3.29)%

7.59%

38.37%

18.97%

(3.61)%

0.38%

0.40%

0.40%

0.40%

0.40%

0.97%

1.06%

0.94%

1.27%

0.71%

Ratios/Supplemental Data (2)

Total return Ratio of total expenses to average net assets

2.25% 0.35%

(3)

Ratio of net investment income to average net assets

1.06%

(3)

Portfolio turnover rate

9.9%

Net assets, end of period (in thousands) (1) (2)

(3)

23.0%

17.1%

21.7%

17.6%

18.9%

$ 712,761 $ 724,539 $ 733,982 $ 706,238 $ 426,187 $ 352,789

Per share amounts calculated using average shares outstanding method. 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. Total return is not annualized for periods less than one year. Annualized

The accompanying notes are an integral part of these financial statements.

2

T. Rowe Price Extended Equity Market Index Fund Unaudited

June 30, 2016

P ortfolio of I nvestments

‡



Shares/Par

$ Value

Autoliv (1)

12,800

1,375

Cooper Tire

9,600

286

22,600

239

Dorman Products (1)(2)

4,900

280

Drew Industries

5,700

484

(Cost and value in $000s)

COMMON STOCKS 94.9% CONSUMER DISCRETIONARY 14.6% Auto Components 1.0%

Dana Holding (1)

Federal-Mogul (2)

10,000

83

Gentex (1)

48,720

753

Gentherm (2)

10,400

356

Horizon Global (2) Lear Motorcar Parts of America (1)(2) Shiloh Industries (2) Spartan Motors Standard Motor Products (1)

6,920

79

11,800

1,201

7,800

212

6,700

49

27,300

171

7,250

288

Stoneridge (2)

10,000

149

Tenneco (1)(2)

9,250

431

Visteon (1)

6,900

454 6,890

Automobiles 0.7% Tesla Motors (1)(2)

20,000

4,246

Thor Industries (1)

7,800

505

11,320

259

Winnebago (1)

5,010 Distributors 0.2% Core-Mark Holding (1)

16,400

769

Pool (1)

7,277

684

Voxx International (2)

9,964

28

Weyco Group (1)

3,500

97 1,578

3

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

(Cost and value in $000s)

Diversified Consumer Services 0.8% Ascent Capital Group (1)(2)

2,293

35

10,300

683

Carriage Services (1)

7,200

170

Devry Education (1)

8,100

145

690

338

Grand Canyon Education (2)

7,900

315

Houghton Mifflin Harcourt (2)

26,900

420

ITT Educational Services (1)(2)

6,140

12

LifeLock (1)(2)

23,700

375

Regis (2)

13,500

168

Service Corporation International (1)

35,231

953

ServiceMaster Global Holdings (2)

31,300

1,246

Sotheby's (1)

14,013

384

Strayer Education (1)(2)

5,150

253

Weight Watchers (1)(2)

32,000

372

Bright Horizons Family Solutions (2)

Graham Holdings

5,869 Hotels, Restaurants & Leisure 3.5% Aramark

34,800

Belmond (1)(2) Biglari Holdings (2) BJ's Restaurants (1)(2)

1,163

6,500

64

409

165

5,433

238

15,900

284

Bob Evans Farms (1)

4,000

152

Boyd Gaming (1)(2)

24,100

443

Brinker (1)

Bloomin Brands

10,679

486

Buffalo Wild Wings (1)(2)

2,800

389

Choice Hotels International

9,600

457

Churchill Downs

3,200

404

Cracker Barrel Old Country Store (1)

4,600

789

Del Frisco’s Restaurant (2)

17,800

255

Denny's (1)(2)

28,000

300

Diamond Resorts International (1)(2)

10,100

303

3,400

288

DineEquity (1)

4

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Domino's Pizza (1)

9,764

1,283

Dunkin Brands (1)

13,900

606

El Pollo Loco Holdings (1)(2)

15,500

202

6,500

142

Hilton Worldwide Holdings

90,800

2,046

Hyatt Hotels, Class A (1)(2)

8,800

432

International Speedway, Class A

5,275

176

19,100

304

Jack in the Box (1)

7,000

601

Krispy Kreme (1)(2)

17,800

373

La Quinta Holdings (1)(2)

32,600

372

Las Vegas Sands (1)

60,400

2,627

(Cost and value in $000s)

Fiesta Restaurant (1)(2)

Interval Leisure (1)

Marriott Vacations Worldwide (1)

2,800

192

MGM Resorts International (2)

70,697

1,600

Norwegian Cruise Line Holdings (1)(2)

27,000

1,076

4,060

860

Papa John's International (1)

6,740

458

Penn National Gaming (1)(2)

24,500

342

Pinnacle Entertainment (1)(2)

16,200

180

Popeyes Louisiana Kitchen (2)

6,800

372

Red Robin Gourmet Burgers (1)(2)

5,950

282

Red Rock Resorts, Class A (2)

3,100

68

Ruby Tuesday (2)

19,000

69

Scientific Games, Class A (1)(2)

22,830

210

Panera Bread, Class A (1)(2)

SeaWorld Entertainment (1)

2,200

32

Six Flags Entertainment

15,000

869

Sonic (1)

12,650

342

Speedway Motorsports (1)

3,820

68

10,900

497

The Cheesecake Factory (1)

7,540

363

Vail Resorts (1)

6,900

954

45,340

436

Texas Roadhouse (1)

Wendy's (1)

24,614

5

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

(Cost and value in $000s)

Household Durables 1.0% Beazer Homes USA (1)(2)

11,500

89

Calatlantic (1)

13,322

489

CSS Industries

3,300

88

Dixie Group (1)(2)

5,875

21

Ethan Allen Interiors (1)

3,600

119

16,400

177

5,100

524

GoPro, Class A (1)(2) Helen of Troy Limited (1)(2) Hovnanian Enterprises (1)(2)

40,200

68

iRobot (1)(2)

9,000

316

KB Home (1)

12,300

187

8,650

241

M/I Homes (1)(2)

10,570

199

MDC Holdings (1)

4,283

104

La-Z-Boy

Meritage (1)(2)

11,600

435

643

1,145

Taylor Morrison Home, Class A (1)(2)

12,800

190

Tempur Sealy International (1)(2)

10,350

573

Toll Brothers (2)

NVR (2)

25,320

681

TopBuild (1)(2)

6,100

221

Tri Pointe (1)(2)

45,900

543

Tupperware Brands (1)

10,720

603

4,000

289

Universal Electronics (1)(2)

7,302 Internet & Catalog Retail 0.4% 1-800-Flowers.com (1)(2)

32,668

295

8,400

230

FTD (1)(2)

11,035

275

Groupon (1)(2)

82,700

269

HSN

5,000

245

Lands End (1)(2)

5,762

94

Liberty TripAdvisor Holdings, Class A (1)(2)

16,500

361

Nutri/System

14,300

363

8,100

130

Blue Nile (1)

Overstock.com (1)(2)

6

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

6,000

280

(Cost and value in $000s)

Shutterfly (2)

2,542 Leisure Products 0.4% Arctic Cat (1)

11,095

188

Brunswick

16,100

730

Malibu Boats, Class A (1)(2)

5,000

60

Marine Products

8,600

73

10,040

821

Sturm Ruger & Company

7,200

461

Vista Outdoor (2)

9,400

449

Polaris Industries (1)

2,782 Media 3.7% A.H. Belo, Class A AMC Networks, Class A (2) Cable One (1) Charter Communications, Class A (2) Cinedigm (1)(2)

15,776

79

9,500

574

890

455

37,397

8,551

6,269

8

Cinemark Holdings

14,800

540

Clear Channel Outdoor, Class A (1)

14,400

90

Cumulus Media, Class A (2)

41,700

13

DISH Network (1)(2)

36,420

1,908

DreamWorks Animation, Class A (1)(2)

14,100

576

EW Scripps, Class A (1)(2)

14,414

228

Gannett

23,600

326

Harte-Hanks

12,650

20

8,470

442

Liberty Broadband, A Shares (2)

6,675

397

Liberty Broadband, C Shares (2)

12,150

729

Liberty Global, Class A (1)(2)

51,534

1,498

Liberty Global, Series C (1)(2)

113,934

3,264

Liberty Global Plc LiLAC, Class A (2)

629

20

Liberty Global Plc LiLAC, Class C (2)

1,415

46

18,500

374

John Wiley & Sons

Lions Gate Entertainment (1)

7

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

23,800

559

Madison Square Garden (2)

3,821

659

McClatchy (1)(2)

2,860

42

21,600

371

(Cost and value in $000s)

Live Nation Entertainment (1)(2)

Media General, Class A (2) Meredith (1)

5,100

265

MSG Networks (2)

15,664

240

New York Times, Class A

23,800

288

Nexstar Broadcasting (1)

5,800

276

Regal Entertainment Group, Class A (1)

14,090

311

Salem Media

20,450

148

Scholastic

11,420

452

Sinclair Broadcasting, Class A (1)

14,210

424

Sirius XM Holdings (1)(2)

275,800

1,089

Starz (2)

11,500

344

Time

11,600

191

8,300

325

7,400

102

21,800

401

Tribune Media Tronc (1) World Wrestling Entertainment (1)

26,625 Multiline Retail 0.2% Big Lots (1)

9,100

Bon-Ton Stores (1) Dillard's, Class A (1) Fred's (1) JC Penney (1)(2) Tuesday Morning (1)(2)

456

14,200

20

3,900

237

5,915

95

63,500

564

9,700

68 1,440

Specialty Retail 1.8% Aaron's

8,935

196

Abercrombie & Fitch (1)

6,400

114

Aeropostale (1)(2) American Eagle Outfitters (1) Asbury Automotive Group (1)(2)

8

1,760

—

32,180

513

6,140

324

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Ascena Retail Group (1)(2)

28,005

196

Barnes & Noble (1)

18,784

213

4,919

50

(Cost and value in $000s)

Barnes & Noble Education (2) bebe stores (1)(2)

42,000

21

Big 5 Sporting Goods

15,900

147

Buckle (1)

5,662

147

Burlington Stores (1)(2)

14,900

994

Cabela's, Class A (1)(2)

8,341

417

Caleres (1)

7,430

180

Cato, Class A (1)

5,850

221

22,300

239

3,150

252

Christopher & Banks (2)

35,792

78

Container Store (2)

12,700

68

CST Brands (1)

11,100

478

Dick's Sporting Goods (1)

17,100

770

DSW, Class A (1)

8,200

174

Five Below (1)(2)

7,600

353

Francesca's Holdings (1)(2)

7,000

77

13,500

359

Chico's (1) Children's Place (1)

GameStop Genesco (1)(2) GNC Holdings (1) Group One Automotive Guess (1)

3,500

225

16,500

401

6,900

341

11,620

175

Lithia Motors, Class A (1)

3,500

249

Lumber Liquidators (1)(2)

7,000

108

Mattress Firm Holding (1)(2)

4,100

137

Michaels (2)

10,500

299

Monro Muffler Brake (1)

8,000

508

Murphy USA (2)

5,200

386

126,930

420

Outerwall (1)

3,150

132

Penske Auto (1)

5,816

183

29,000

149

Office Depot (1)(2)

Pier 1 Imports (1)

9

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

14,000

172

(Cost and value in $000s)

Rent-A-Center (1) Restoration Hardware Holdings (1)(2)

8,200

235

Sally Beauty Supply (1)(2)

23,800

700

Select Comfort (1)(2)

16,400

351

3,620

62

Sonic Automotive (1) Stein Mart (1)

11,330

87

Tailored Brands (1)

9,050

115

The Finish Line, Class A (1)

8,753

177

West Marine (1)(2) Williams-Sonoma (1)

6,200

52

14,700

766 13,011

Textiles, Apparel & Luxury Goods 0.9% Carters

8,700

Charles & Colvard (1)(2)

2,868

3

Cherokee (1)(2)

8,300

92

Columbia Sportswear (1)

926

5,762

332

13,700

155

Deckers Outdoor (2)

4,400

253

G-III Apparel (1)(2)

8,600

393

Crocs (1)(2)

Hanesbrands (1)

9,800

246

Iconix Brand Group (1)(2)

19,749

134

Kate Spade (2)

27,100

559

lululemon athletica (1)(2)

14,400

1,064

Movado Group

6,500

141

Oxford Industries

5,270

298

Sequential Brands (2)

1,621

13

Skechers U.S.A., Class A (2)

27,100

805

Steven Madden (2)

8,700

297

Tumi Holdings (2)

14,300

382

9,300

189

Wolverine World Wide

6,282 Total Consumer Discretionary

10

103,945

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

(Cost and value in $000s)

CONSUMER STAPLES 3.3% Beverages 0.1% Boston Beer, Class A (1)(2)

1,500

257

Coca-Cola Bottling (1)

2,750

405

National Beverage (1)(2)

5,948

374

Willamette Valley Vineyards (2)

10,850

91 1,127

Food & Staples Retailing 0.7% Andersons (1)

6,850

244

Casey's General Stores (1)

6,800

894

PriceSmart (1)

4,300

403

214,450

1,606

Rite Aid (2) Spartannash

8,900

272

Sprouts Farmers Market (1)(2)

24,100

552

SUPERVALU (2)

78,800

372

United Natural Foods (2)

11,200

524 4,867

Food Products 1.8% Alico (1) B&G Foods, Class A (1) Blue Buffalo Pet Products (1)(2)

3,700

112

15,200

733

5,700

133

Bunge Limited

28,602

1,692

Darling Ingredients (2)

10,500

157

Dean Foods (1)

24,950

451

Farmer Bros. (2)

7,000

224

31,683

594

6,500

354

Flowers Foods (1) Fresh Del Monte Produce (1) Hain Celestial Group (2)

16,200

806

Ingredion

12,800

1,656

J & J Snack Foods

2,240

267

Lancaster Colony (1)

3,600

459

Lifeway Foods (2)

9,400

91

11

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Pinnacle Foods

21,300

986

Post Holdings (1)(2)

11,085

917

Rocky Mountain Chocolate Factory

14,062

143

4,040

350

44

126

13,597

461

(Cost and value in $000s)

Sanderson Farms (1) Seaboard (2) Snyders-Lance (1) TreeHouse Foods (1)(2) Whitewave Foods, Class A (2)

9,343

959

27,100

1,272 12,943

Household Products 0.2% Central Garden & Pet, Class A (2) Energizer Holdings Spectrum Brands Holdings

9,600

208

12,450

641

5,100

609 1,458

Personal Products 0.4% Avon (1) Coty, Class A (1) Edgewell Personal Care (1)(2) Elizabeth Arden (2)

89,700

339

7,000

182

10,450

882

8,050

111

13,900

814

Inter Parfums (1)

3,900

111

Nu Skin Enterprises, Class A

8,000

369

Herbalife (1)(2)

2,808 Tobacco 0.1% Universal (1)

4,240

Vector Group (1)

19,158

245 429 674 23,877

Total Consumer Staples

ENERGY 3.8% Energy Equipment & Services 1.3% Archrock

10,367

12

98

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Atwood Oceanics (1)

17,100

214

Basic Energy Services (1)(2)

64,700

109

7,880

90

145,000

87

CARBO Ceramics (1)

11,275

148

Core Laboratories (1)

5,200

644

(Cost and value in $000s)

Bristow Group (1) C&J Energy Services (1)(2)

Dawson Geophysical (1)(2)

10,208

83

8,900

520

Ensco, Class A

52,500

510

Exterran (2)

15,483

199

2,000

33

Gulf Island Fabrication (1)

12,500

87

Gulfmark Offshore (1)(2)

20,700

65

Helix Energy Solutions Group (2)

46,000

311

Matrix Service (2)

11,700

193

McDermott International (1)(2)

63,350

313

Nabors Industries (1)

69,900

702

Noble (1)

55,600

458

Oceaneering International

19,100

570

Oil States International (2)

11,030

363

Parker Drilling (1)(2)

36,800

84

Patterson-UTI Energy (1)

36,237

773

Rowan (1)

15,300

270

6,950

403

34,756

640

Dril-Quip (2)

Geospace Technologies (1)(2)

SEACOR Holdings (1)(2) Superior Energy Tesco (1)

8,900

59

Unit (1)(2)

16,000

249

Weatherford International (1)(2)

185,400

1,029 9,304

Oil, Gas & Consumable Fuels 2.5% Adams Resources & Energy (1)

2,300

88

Alon USA Energy (1)

11,200

73

Antero Resources (2)

7,900

205

38,932

249

Bill Barrett (1)(2)

13

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Callon Petroleum (1)(2)

37,850

425

Carrizo Oil & Gas (1)(2)

14,800

531

Cheniere Energy (1)(2)

36,600

1,374

CONSOL Energy

18,000

290

(Cost and value in $000s)

Contango Oil & Gas (1)(2)

1,600

20

14,600

661

CVR Energy (1)

4,000

62

Delek US Holdings (1)

2,000

26

Denbury Resources (1)

91,100

327

Diamondback Energy (1)(2)

17,200

1,569

Energen

19,420

936

EP Energy, Class A (1)(2)

36,300

188

Fieldpoint Petroleum (1)(2)

17,100

11

Fieldpoint Petroleum, Warrants, 3/23/18 (2)

12,600

—

Gener8 Maritime (1)(2)

11,600

74

Green Plains (1)

13,500

266

Gulfport Energy (1)(2)

26,700

835

Harvest Natural Resource (1)(2)

14,116

12

HollyFrontier

30,690

729

Matador Resources (1)(2)

24,300

481

Memorial Resource Development (2)

23,400

372

Parsley Energy (1)(2)

34,100

923

PBF Energy (1)

20,400

485

PDC Energy (2)

15,100

870

QEP Resources

36,200

638

Renewable Energy (1)(2)

10,200

90

2,550

153

Rice Energy (2)

20,200

445

RSP Permian (1)(2)

14,600

509

Sanchez Energy (1)(2)

27,800

196

SemGroup (1)

12,500

407

SM Energy (1)

16,400

443

Synergy Resources (1)(2)

67,400

449

Targa Resources

25,500

1,075

Continental Resources (1)(2)

Rex Stores Resources (1)(2)

14

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Western Refining (1)

14,400

297

World Fuel Services

13,200

627

WPX Energy (2)

15,300

142

(Cost and value in $000s)

17,553 26,857

Total Energy

FINANCIALS 24.5% Banks 5.5% 1st Source

3,152

102

Ameris Bancorp (1)

7,300

217

Arrow Financial (1)

6,975

211

19,841

340

Associated Banc-Corp Banc First

2,800

169

Bancorp (1)(2)

18,200

110

Bancorp South

29,675

673

Bank of Hawaii (1)

8,266

569

Bank of the Ozarks (1)

18,000

675

BankUnited

23,300

716

Banner (1)

5,873

250

BBCN Bancorp (1)

20,300

303

BNC Bancorp (1)

10,600

241

BOK Financial (1)

1,137

71

Boston Private Financial

22,199

262

Brookline Bancorp

24,129

266

Camden National

3,200

134

Capital Bank Financial, Class A (1)

11,200

323

Cathay Bancorp

10,756

303

CB Financial Services

1,438

31

Central Pacific Financial

14,000

330

Century Bancorp, Class A

5,700

241

8,561

319

29,500

941

Chemical Financial CIT Group Citizens & Northern

2,222

45

City Holding Company (1)

5,150

234

15

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Cobiz Financial (1)

15,937

186

Columbia Banking System

16,650

467

Commerce Bancshares (1)

14,730

706

6,020

247

(Cost and value in $000s)

Community Bank System (1) Community Trust Bancorp

4,372

152

12,383

194

9,050

577

CVB Financial

13,106

215

East West Bancorp

ConnectOnc Bancorp Cullen/Frost Bankers (1)

22,200

759

Farmers Capital Bank

9,947

272

First Bancorp North Carolina (1)

8,075

142

First BanCorp-Puerto Rico (1)(2)

18,500

73

First Busey

8,691

186

First Citizens BancShares

1,470

381

13,300

122

First Community (1)

5,200

117

First Financial

4,550

167

13,272

258

8,988

295

First Horizon National

42,100

580

First Merchants

13,813

344

First Midwest Bancorp

17,893

314

First Niagara Financial

96,763

942

First Republic Bank

22,500

1,575

First Commonwealth Financial

First Financial Bancorp First Financial Bankshares (1)

First United (2)

4,211

41

14,084

285

9,825

195

FNB (1)

14,835

186

Fulton Financial (1)

19,102

258

4,489

144

Glacier Bancorp (1)

15,812

420

Hancock Holding (1)

5,735

150

Hilltop Holdings (1)(2)

15,698

330

Home Bancshares (1)

41,076

813

FirstMerit Flushing Financial

German American Bancorp (1)

16

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

IBERIABANK (1)

7,955

475

Independent Bank

5,350

244

International Bancshares

7,802

204

Investors Bancorp (1)

64,535

715

John Marshall Bank (2)

5,800

93

Macatawa Bank (1)

22,400

166

MB Financial

11,867

431

600

18

(Cost and value in $000s)

Merchants Bancshares (1) National Bank Holdings, Class A (1)

16,500

336

NBT Bancorp (1)

9,480

271

Northrim Bank

7,125

187

33,268

276

Old Line Bancshares (1)

6,900

124

Old National Bancorp

5,430

68

PacWest Bancorp (1)

15,955

635

Park National

4,040

371

Peapack-Gladstone Financial (1)

7,057

131

Peoples Bancorp (1)

3,550

77

18,730

549

8,695

251

OFG Bancorp

Popular Preferred Bank Premier Financial Bancorp, Class A

7,464

126

PrivateBancorp

12,660

557

Prosperity Bancshares

15,760

804

Renasant

8,352

270

Republic Bancorp, Class A

2,066

57

S&T Bancorp (1)

8,200

200

Sandy Spring Bancorp

4,830

140

Signature Bank (2)

9,900

1,237

Simmons First National, Class A (1)

3,000

139

South State (1)

4,704

320

Southside Bancshares (1)

8,341

258

Southwest Bancorp of Oklahoma

11,800

200

State Bank Financial (1)

10,600

216

Sterling Bancorp

20,840

327

17

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Stock Yards Bancorp (1)

8,281

234

Sun Bancorp (1)(2)

7,212

149

SVB Financial Group (1)(2)

8,550

814

Synovus Financial

21,757

631

Talmer Bancorp, Class A

21,700

416

TCF Financial

29,600

374

Texas Capital Bancshares (1)(2)

15,500

725

Tompkins Financial (1)

4,217

274

Towne Bank/Portsmouth VA (1)

7,600

165

TriCo Bancshares

4,000

110

10,900

271

UMB Financial (1)

6,612

352

Umpqua Bank (1)

26,064

403

Union Bankshares

7,729

191

United Bankshares

9,000

338

(Cost and value in $000s)

Trustmark (1)

United Community Banks

13,396

245

Univest (1)

4,700

99

Valley National Bancorp (1)

5,694

52

17,410

591

Webster Financial WesBanco

6,875

213

12,700

236

3,746

185

27,200

888

Wintrust Financial (1)

7,050

360

Yadkin Financial (1)

8,950

225

West Bancorporation (1) WestAmerica Bank (1) Western Alliance Bancorp (2)

39,183 Capital Markets 1.3% Ashford (1)(2)

1,249

Associated Capital

62

900

26

BGC Partners (1)

34,500

301

Calamos, Class A (1)

15,300

112

2,000

81

Cohen & Steers Cowen (1)(2)

29,700

88

Eaton Vance (1)

16,966

600

18

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Evercore Partners (1)

5,500

243

Federated Investors, Class B

6,400

184

Financial Engines

8,600

223

GAMCO Investors

900

30

Greenhill (1)

12,100

195

Interactive Brokers, Class A (1)

15,300

542

8,181

223

Investment Technology Group

13,600

227

Janus Capital Group (1)

37,100

516

Lazard, Partnership, Class A

24,300

724

Northstar Asset Management

26,250

268

4,650

175

16,275

802

(Cost and value in $000s)

INTL FCStone (2)

Piper Jaffray (1)(2) Raymond James Financial (1) Safeguard Scientifics (1)(2) SEI Investments Stifel Financial (1)(2) TD Ameritrade Holding (1) Teton Advisors (1)

7,700

96

18,956

912

7,886

248

54,268

1,545

40

2

1,434

102

Waddell & Reed Financial, Class A (1)

21,340

367

WisdomTree Investments (1)

28,400

278

Virtus Investment Partners (1)

9,172 Consumer Finance 0.7% Ally Financial (1)(2)

77,200

1,318

Asta Funding (2)

8,330

88

Atlanticus Holdings (1)(2)

4,145

12

Cash America International

9,860

420

Credit Acceptance (1)(2)

2,000

370

Encore Capital (1)(2)

6,200

146

Enova International (1)(2)

2,524

19

25,200

191

4,800

246

Green Dot, Class A (1)(2)

12,200

280

LendingClub (1)(2)

55,200

237

EZCORP, Class A (1)(2) First Cash (1)

19

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

3,922

136

OneMain Holdings (1)(2)

11,100

253

Pra (1)(2)

10,750

260

5,300

55

65,400

404

6,200

283

(Cost and value in $000s)

Nelnet, Class A

Santander Consumer USA Holdings (2) SLM Corporation (2) World Acceptance (1)(2)

4,718 Diversified Financial Services 0.8% Bats Global Markets (2)

2,600

67

18,400

1,226

FactSet Research Systems (1)

6,500

1,049

MarketAxess Holdings (1)

6,800

989

Morningstar

5,800

474

17,736

1,368

6,000

50

PICO Holdings (2)

10,600

100

Voya Financial

31,900

790

CBOE Holdings

MSCI, Class A Newstar Financial (1)(2)

6,113 Insurance 3.8% Alleghany (2)

2,518

1,384

Allied World Assurance Holdings

16,500

580

Ambac Financial (1)(2)

16,900

278

American Equity Investment Life (1)

14,600

208

American Financial Group

11,210

829

AmTrust Financial Services (1)

18,412

451

Arch Capital Group (2)

16,000

1,152

Argo Group International Holdings (1)

5,324

276

Aspen Insurance Holdings

13,000

603

Assured Guaranty

23,600

599

Axis Capital Holdings (1)

16,500

907

Baldwin & Lyons, Class B (1)

3,875

96

Brown & Brown (1)

9,000

337

13,733

104

Citizens (1)(2)

20

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

CNA Financial

10,400

327

CNO Financial Group

26,900

470

Crawford, Class B (1)

17,550

149

6,300

88

(Cost and value in $000s)

E-Health (2) EMC Insurance Group

2,854

79

10,287

691

Enstar (1)(2)

2,800

454

Erie Indemnity, Class A (1)

4,500

447

Everest Reinsurance Holdings

6,900

1,260

FBL Financial, Class A

2,342

142

First American Financial (1)

28,830

1,160

FNF

11,731

440

Hanover Insurance Group

6,420

543

Horace Mann Educators

9,210

311

Infinity Property & Casualty

3,200

258

Kemper

7,650

237

Endurance Specialty Holdings

Maiden Holdings (1)

20,800

255

Markel (2)

2,544

2,424

MBIA (1)(2)

29,500

201

Mercury General (1)

4,793

255

National Interstate

7,100

215

National Western Life, Class A (1)

1,110

217

Navigators Group

3,350

308

Old Republic International (1)

42,093

812

OneBeacon Insurance Group, Class A

8,800

121

Primerica (1)

8,200

469

ProAssurance

7,540

404

Reinsurance Group of America

11,520

1,117

RenaissanceRe Holdings

7,095

833

RLI (1)

1,000

69

Safety Insurance Group

6,115

377

Selective Insurance

11,900

455

State Auto Financial (1)

11,370

249

8,280

343

Stewart Information Services

21

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

24,600

288

United Fire Group

3,600

153

Validus Holdings

13,400

651

W. R. Berkley

11,572

693

(Cost and value in $000s)

Third Point Reinsurance (1)(2)

White Mountains Insurance Group (1)

1,387

1,168 26,937

Real Estate Investment Trusts 10.7% Acadia Realty Trust, REIT (1)

12,250

435

AG Mortgage Investment Trust, REIT (1)

16,400

237

7,800

376

900

368

Alexandria Real Estate, REIT (1)

12,120

1,255

Altisource Residential, Class B (1)

26,433

243

9,000

382

American Campus Communities, REIT

18,826

995

American Capital Agency, REIT

53,000

1,050

American Capital Mortgage Investment, REIT (1)

15,900

251

American Homes 4 Rent, Class A, REIT (1)

33,900

694

146,600

1,623

Apple Hospitality REIT (1)

28,000

527

Ares Commercial Real Estate, REIT (1)

32,500

399

Agree Realty, REIT Alexanders, REIT

American Assets Trust, REIT

Annaly Capital Management, REIT (1)

ARMOUR Residential REIT (1)

425

9

Ashford Hospitality Prime, REIT (1)

925

13

Ashford Hospitality Trust, REIT (1)

23,100

124

Blackstone Mortgage Trust, REIT (1)

24,000

664

Brandywine Realty Trust, REIT

38,043

639

Brixmor Property, REIT

27,200

720

Camden Property Trust, REIT (1)

15,300

1,353

Care Capital Properties, REIT

11,000

288

CBL & Associates Properties, REIT (1)

39,600

369

Cedar Realty Trust, REIT

29,700

221

Chesapeake Lodging Trust, REIT (1)

16,600

386

Chimera Investment, REIT (1)

36,620

575

284

5

CIM Commercial Trust, REIT

22

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

8,900

137

Colony Starwood Homes, REIT (1)

12,480

380

Columbia Property Trust, REIT

17,300

370

Communications Sales & Leasing, REIT

24,400

705

CorEnergy Infrastructure Trust, REIT

(Cost and value in $000s)

Colony Capital, REIT (1)

10,240

295

CoreSite Realty, REIT (1)

1,600

142

Corporate Office Properties Trust, REIT

8,200

242

Corrections Corporation of America, REIT

18,204

638

Cousins Properties, REIT (1)

36,400

379

CubeSmart, REIT (1)

30,700

948

8,600

479

CYS Investments, REIT (1)

55,100

461

DCT Industrial Trust, REIT (1)

15,300

735

DDR, REIT (1)

44,600

809

DiamondRock Hospitality, REIT

52,051

470

Douglas Emmett, REIT (1)

23,800

845

Duke Realty, REIT (1)

59,361

1,583

DuPont Fabros Technology, REIT (1)

12,300

585

9,750

672

Education Realty Trust, REIT

12,800

591

Empire State Realty Trust, REIT (1)

21,600

410

7,080

571

Equity Commonwealth, REIT (2)

20,475

596

Equity LifeStyle Properties, REIT

15,840

1,268

Equity One, REIT

17,576

566

FelCor Lodging Trust, REIT (1)

40,100

250

First Industrial Realty, REIT (1)

12,200

339

First Potomac Realty Trust, REIT

27,900

257

Forest City Realty Trust, Class A, REIT (1)

42,730

953

7,200

88

Gaming & Leisure Properties, REIT

28,557

985

Getty Realty, REIT (1)

15,043

323

Gladstone Land, REIT (1)

12,900

143

Global Net Lease, REIT (1)

48,700

387

CyrusOne, REIT

EastGroup Properties, REIT (1)

EPR Properties, REIT (1)

Franklin Street Properties, REIT

23

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Government Properties Income Trust, REIT (1)

23,300

537

Gramercy Property Trust, REIT (1)

20,200

186

Hatteras Financial, REIT (1)

16,300

267

Healthcare Realty Trust, REIT

18,580

650

Healthcare Trust of America, REIT

29,050

939

Hersha Hospitality Trust, Class A, REIT (1)

11,025

189

Highwoods Properties, REIT (1)

12,213

645

Hospitality Properties Trust, REIT

25,350

730

(Cost and value in $000s)

Hudson Pacific Properties, REIT (1)

4,700

137

Independence Realty Trust, REIT

10,300

84

Invesco Mortgage Capital, REIT

3,200

44

Investors Real Estate Trust, REIT

42,650

276

Kilroy Realty, REIT

14,020

929

Kite Realty Group Trust, REIT (1)

11,200

314

Lamar Advertising, REIT

16,192

1,074

LaSalle Hotel Properties, REIT (1)

22,900

540

Lexington Realty Trust, REIT

58,129

588

Liberty Property Trust, REIT

21,633

859

7,550

391

LTC Properties, REIT Mack-Cali Realty, REIT

9,134

247

Medical Properties Trust, REIT (1)

27,600

420

MFA Financial, REIT

33,200

241

Mid-America Apartment Communities, REIT (1)

12,976

1,381

Monmouth Real Estate Investment Trust, Class A, REIT

28,600

379

National Health Investors, REIT (1)

4,020

302

National Retail Properties, REIT

22,730

1,176

New Residential Investment, REIT

44,850

621

New Senior Investment, REIT (1)

32,100

343

NorthStar Realty Europe, Class C, REIT (1)

18,633

172

NorthStar Realty Finance, REIT

45,800

524

Omega Healthcare Investors, REIT

34,750

1,180

Outfront Media, REIT (1)

32,523

786

Paramount, REIT (1)

28,800

459

Parkway Properties, REIT

24,372

408

24

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Pebblebrook Hotel Trust, REIT (1)

10,200

268

Pennsylvania REIT (1)

15,731

337

PennyMac Mortgage Investment Trust, REIT

18,300

297

Physicians Realty Trust, REIT (1)

24,900

523

Piedmont Office Realty Trust, Class A, REIT

29,400

633

Post Properties, REIT

9,900

604

Power REIT (1)(2)

9,738

68

PS Business Parks, REIT

5,800

615

QTS Realty Trust, Class A, REIT

10,500

588

RAIT Financial Trust, REIT (1)

20,000

63

Ramco-Gershenson Properties, REIT (1)

24,900

488

Rayonier, REIT

36,551

959

Redwood Trust, REIT

33,700

465

Regency Centers, REIT

19,786

1,657

Resource Capital, REIT (1)

29,950

385

Retail Opportunity Investments, REIT

23,400

507

Retail Properties of America, Class A, REIT

35,100

593

RLJ Lodging Trust, REIT (1)

24,000

515

Ryman Hospitality Properties, REIT

11,326

574

Sabra Health Care REIT

11,600

239

(Cost and value in $000s)

Saul Centers, REIT

7,600

469

Senior Housing Properties, REIT

43,214

900

Silver Bay Realty Trust, REIT

14,699

250

Sotherly Hotels, REIT

14,600

82

9,200

965

Spirit Realty Capital, REIT (1)

66,600

850

Starwood Property Trust, REIT

37,500

777

STORE Capital, REIT (1)

14,300

421

Sun Communities, REIT (1)

12,850

985

Sunstone Hotel Investors, REIT

30,674

370

Tanger Factory Outlet Centers, REIT (1)

17,980

722

Taubman Centers, REIT

15,400

1,143

Terreno Realty, REIT (1)

16,200

419

The GEO Group, REIT

13,611

465

Sovran Self Storage, REIT

25

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Two Harbors Investment, REIT

47,500

407

UMH Properties, REIT (1)

23,700

267

5,550

317

18,800

561

(Cost and value in $000s)

Universal Health Realty Income Trust, REIT Urban Edge Properties, REIT Urstadt Biddle Properties, Class A, REIT (1)

15,200

377

156,240

1,584

Washington Real Estate Investment Trust, REIT

15,400

485

Weingarten Realty Investors, REIT

14,640

598

Western Asset Mortgage Capital, REIT (1)

41,722

392

WP Carey, REIT (1)

15,900

1,104

WP GLIMCHER, REIT (1)

12,759

143

4,300

72

VEREIT, REIT (1)

Xenia Hotels & Resorts, REIT ZAIS Financial, REIT (1)

13,200

181 76,505

Real Estate Management & Development 0.6% Alexander & Baldwin

13,550

490

Altisource Portfolio Solutions (1)(2)

10,300

287

AV Homes (1)(2)

13,100

160

Forestar Group (1)(2)

14,200

169

FRP Holdings (1)(2)

2,300

79

Howard Hughes (2)

6,000

686

7,510

732

17,100

324

Jones Lang LaSalle Kennedy-Wilson Holdings (1) RE/MAX Holdings, Class A (1) Realogy Holdings (2) RMR, Class A (1) St. Joe (1)(2) Tejon Ranch (2) Tejon Ranch, Warrants, 8/31/16 (2)

2,000

80

20,500

595

1,021

32

21,570

382

5,570

132

999

— 4,148

Thrifts & Mortgage Finance 1.1% Astoria Financial

29,521

453

Bank Mutual (1)

31,861

245

26

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

12,510

118

(Cost and value in $000s)

Bear State Financial (1) Beneficial Bancorp (2)

7,000

89

BofI Holding (1)(2)

16,400

290

Capitol Federal Financial

32,144

448

Clifton Bancorp (1)

14,388

217

Dime Community Bancshares

10,400

177

EverBank Financial

22,900

340

5,500

192

Federal Agricultural Mortgage HomeStreet (2)

5,200

104

Kearny Financial (1)

16,012

201

Lake Sunapee Bank

2,980

51

Meridian Bancorp

4,000

59

MGIC Investment (1)(2)

85,000

506

Nationstar Mortgage Holdings (1)(2)

24,800

279

New York Community Bancorp

81,137

1,216

Northwest Bancshares (1)

20,579

305

8,250

150

61,030

104

4,665

58

OceanFirst Financial (1) Ocwen Financial (1)(2) PennyMac Financial Services (1)(2) PHH (1)(2)

7,900

105

Provident Financial Services

10,118

199

Radian (1)

32,458

338

TFS Financial

20,700

357

Trustco Bank (1)

25,450

163

United Financial Bancorp

6,600

86

Walker & Dunlop (2)

9,400

214

Washington Federal

17,968

436

Westfield Financial

13,100

101

WSFS Financial (1)

8,550

275 7,876 174,652

Total Financials

27

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

ACADIA Pharmaceuticals (1)(2)

26,600

863

Acceleron Pharma (1)(2)

10,900

370

Achillion Pharmaceuticals (1)(2)

54,700

427

Acorda Therapeutics (2)

8,700

222

Agios Pharmaceuticals (1)(2)

7,500

314

Akebia therapeutics (1)(2)

7,900

59

Alexion Pharmaceuticals (2)

2,722

318

Alkermes (1)(2)

25,200

1,089

Alnylam Pharmaceuticals (1)(2)

16,400

910

AMAG Pharmaceuticals (1)(2)

7,700

184

ARIAD Pharmaceuticals (1)(2)

17,500

129

Arrowhead Pharmaceuticals (2)

25,400

135

BioMarin Pharmaceutical (2)

30,790

2,395

7,400

320

Celldex Therapeutics (1)(2)

43,800

192

Celsion (1)(2)

74,800

95

Cepheid (2)

8,400

258

Clovis Oncology (1)(2)

13,400

184

CytRx (1)(2)

49,400

110

Dyax (1)(2)

28,300

31

Dynavax Technologies (1)(2)

13,810

201

Epizyme (1)(2)

19,300

198

Exelixis (1)(2)

63,890

499

FibroGen (1)(2)

11,300

185

203

—

2,488

—

(Cost and value in $000s)

HEALTH CARE 11.5% Biotechnology 3.9%

Bluebird Bio (1)(2)

Forest Laboratories (1)(2)(3) Forest Laboratories (2)(3) Genomic Health (1)(2)

8,900

231

103,300

277

Halozyme Therapeutics (1)(2)

33,700

291

ImmunoGen (1)(2)

46,600

144

Incyte (1)(2)

31,360

2,508

5,100

7

Geron (1)(2)

Infinity Pharmaceuticals (1)(2)

28

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

16,300

161

(Cost and value in $000s)

Insmed (1)(2) Intercept Pharmaceuticals (1)(2)

700

100

Intrexon (1)(2)

14,600

359

Ionis Pharmaceuticals (1)(2)

25,380

591

Ironwood Pharmaceuticals (1)(2)

25,700

336

Juno Therapeutics (1)(2)

13,900

534

Karyopharm Therapeutics (1)(2)

13,800

93

Keryx Biopharmaceuticals (1)(2)

35,600

236

Kite Pharma (1)(2)

8,800

440

15,042

216

Ligand Pharmaceuticals, Class B (1)(2)

4,586

547

MacroGenics (2)

8,300

224

MannKind (1)(2)

92,500

107

Medivation (2)

28,600

1,725

Merrimack Pharmaceuticals (1)(2)

40,300

217

Momenta Pharmaceuticals (1)(2)

22,200

240

9,680

296

Lexicon Pharmaceuticals (1)(2)

Myriad Genetics (1)(2) Navidea Biopharmaceuticals (1)(2)

70,000

37

Neurocrine Biosciences (2)

20,900

950

Novavax (1)(2)

74,600

542

OncoGenex Pharmaceutical (1)(2)

46,100

46

Ophthotech (1)(2)

10,200

521

OPKO Health (1)(2)

56,500

528

Portola Pharmaceuticals (1)(2)

10,600

250

Progenics Pharmaceuticals (1)(2)

47,800

202

Prothena (1)(2)

10,200

357

PTC Therapeutics (1)(2)

8,300

58

Puma Biotechnology (1)(2)

1,300

39

Radius Health (1)(2)

5,900

217

Sangamo BioSciences (1)(2)

16,300

94

Sarepta Therapeutics (1)(2)

18,716

357

Seattle Genetics (1)(2)

21,520

870

Spectrum Pharmaceuticals (1)(2)

27,000

177

Synergy Pharmaceuticals (1)(2)

88,200

335

29

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

T2 Biosystems (1)(2)

3,500

28

TESARO (1)(2)

5,000

420

Ultragenyx Pharmaceutical (1)(2)

9,800

479

10,100

1,070

(Cost and value in $000s)

United Therapeutics (1)(2) Versartis (1)(2)

4,500

50

Vital Therapies (1)(2)

17,700

110

ZIOPHARM Oncology (1)(2)

46,000

253 27,558

Health Care Equipment & Supplies 2.9% Abaxis (1)

4,500

213

Abiomed (2)

7,900

863

Accuray (1)(2)

32,000

166

Alere (2)

14,360

599

Align Technology (1)(2)

16,330

1,315

3,000

43

Angiodynamics (2) Biolase (1)(2)

17,433

20

6,300

433

Cardiovascular Systems (1)(2)

11,600

213

Cerus (1)(2)

31,000

193

Cantel Medical

ConMed

6,050

289

Cooper Companies

8,461

1,452

10,350

122

6,863

334

Dexcom (2)

13,900

1,103

Endologix (1)(2)

29,600

369

1,700

46

GenMark Diagnostics (1)(2)

16,000

139

Globus Medical, Class A (1)(2)

13,100

312

Haemonetics (2)

11,500

333

Halyard Health (2)

5,300

172

HeartWare International (1)(2)

1,600

92

Hill-Rom Holdings

9,250

467

Hologic (2)

7,854

272

ICU Medical (2)

3,400

383

CryoLife Cynosure, Class A (2)

Exactech (2)

30

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

IDEXX Laboratories (1)(2)

15,800

1,467

Insulet (1)(2)

(Cost and value in $000s)

12,500

378

Integer Holdings (1)

5,050

156

Integra LifeSciences Holdings (1)(2)

4,200

335

Invacare (1)

6,700

81

LeMaitre Vascular (1)

8,300

118

LivaNova (2)

7,100

357

Masimo (1)(2)

10,300

541

Meridian Bioscience (1)

8,075

158

13,206

262

Neogen (2)

8,450

475

NuVasive (1)(2)

9,900

591

Merit Medical Systems (1)(2)

Nuvectra (2)

9,883

73

19,775

117

Quidel (1)(2)

6,400

114

ResMed (1)

23,300

1,473

RTI Surgical (2)

35,800

129

OraSure Technologies (1)(2)

SeaSpine Holdings (1)(2)

7,200

76

Spectranetics (1)(2)

7,200

135

13,191

907

STERIS (1) SurModics (1)(2)

3,750

88

10,600

139

Tandem Diabetes Care (1)(2)

9,200

69

Teleflex (1)

6,830

1,211

Unilife (1)(2)

4,409

15

West Pharmaceutical Services

12,160

923

Wright Medical (1)(2)

15,225

265

Symmetry Surgical (2)

20,596 Health Care Providers & Services 2.1% Acadia Healthcare (1)(2) Air Methods (1)(2) AMN Healthcare Services (1)(2) AmSurg, Class A (1)(2) Anthem (1)

31

15,400

853

6,600

237

13,105

524

9,300

721

500

66

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

32,200

82

(Cost and value in $000s)

Bioscrip (1)(2) BioTelemetry (2)

2,600

42

Brookdale Senior Living (2)

33,300

514

Capital Senior Living (1)(2)

15,800

279

Centene (1)(2)

4,655

332

Chemed (1)

3,200

436

Community Health Systems (1)(2)

17,768

214

Community Health Systems, Rights, 1/2/24 (2)

41,000

—

CorVel (2)

6,050

261

Digirad

39,600

204

Diplomat Pharmacy (1)(2)

11,500

403

Envision Healthcare Holdings (1)(2)

32,900

835

Five Star Quality Care (2)

23,000

54

HCA Holdings (2)

3,700

285

HealthSouth (1)

15,700

609

9,300

105

Kindred Healthcare (1) Landauer LHC Group (2) LifePoint Health (2) Magellan Health (2)

500

21

11,100

480

7,330

479

6,400

421

16,000

1,159

Molina Healthcare (1)(2)

7,250

362

National HealthCare (1)

4,199

272

Owens & Minor (1)

10,400

389

PharMerica (1)(2)

10,459

258

Premier, Class A (2)

10,100

330

Quorum Health (1)(2)

4,441

48

24,100

129

MEDNAX (1)(2)

RadNet (1)(2) Select Medical Holdings (1)(2)

7,900

86

18,500

752

8,500

235

Universal American (1)

20,240

153

VCA (2)

14,100

953

Team Health Holdings (1)(2) Tenet Healthcare (2)

32

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

10,800

1,159

(Cost and value in $000s)

WellCare Health Plans (2)

14,742 Health Care Technology 0.6% Allscripts Healthcare Solutions (1)(2)

9,400

119

athenahealth (1)(2)

6,600

911

Castlight Health (2)

13,900

55

HealthStream (1)(2)

4,700

125

HMS Holdings (2)

34,500

607

IMS Health Holdings (1)(2)

24,800

629

Medidata Solutions (1)(2)

12,700

595

7,820

268

Quality Systems (1)

13,500

161

Veeva Systems, Class A (1)(2)

20,400

696

Omnicell (2)

4,166 Life Sciences Tools & Services 1.0% Bio-Rad Laboratories, Class A (2)

2,900

415

Bio-Techne

7,700

868

Bruker (1)

32,150

731

Cambrex (1)(2)

8,410

435

Charles River Laboratories International (1)(2)

8,700

717

Fluidigm (1)(2)

22,900

207

Harvard Bioscience (2)

28,200

81

Luminex (1)(2)

13,400

271

4,500

1,642

15,700

110

9,680

609

Quintiles Transnational Holdings (2)

18,500

1,208

Sequenom (1)(2)

37,100

34

4,600

133

Mettler-Toledo International (1)(2) Pacific Biosciences of California (1)(2) Parexel International (2)

VWR (2)

7,461 Pharmaceuticals 1.0% Akorn (1)(2)

15,100

430

BioDelivery Sciences International (1)(2)

31,500

74

33

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Catalent (1)(2)

23,400

538

Depomed (1)(2)

15,300

300

DURECT (1)(2)

81,600

100

Horizon Pharma (1)(2)

18,400

303

Impax Laboratories (1)(2)

11,600

334

Innoviva

19,500

205

(Cost and value in $000s)

Intra-Cellular Therapies (1)(2)

9,500

369

Jazz Pharmaceuticals (1)(2)

11,400

1,611

Medicines Company (1)(2)

19,590

659

Nektar Therapeutics (1)(2)

34,400

490

NuPathe, Rights, 1/2/24 (1)(2)(3)

81,200

215

9,000

304

Pacira Pharmaceuticals (1)(2) Prestige Brands (1)(2)

8,600

476

Relypsa (1)(2)

13,700

253

Tetraphase Pharmaceuticals (1)(2)

16,700

72

Therapeutics MD (1)(2)

47,400

403

VIVUS (1)(2)

51,000

57

XenoPort (1)(2)

14,900

105 7,298 81,821

Total Health Care

INDUSTRIALS & BUSINESS SERVICES 12.0% Aerospace & Defense 1.5% AAR

10,600

247

Aerojet Rocketdyne Holdings (1)(2)

16,410

300

8,200

228

B/E Aerospace (1)

15,850

732

BWX Technologies

Aerovironment (1)(2)

21,575

772

Cubic (1)

2,700

109

Curtiss-Wright

7,600

640

17,140

367

DigitalGlobe (1)(2) Ducommun (2)

3,600

71

Esterline Technologies (1)(2)

4,590

285

HEICO (1)

8,500

568

34

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

15,500

645

Huntington Ingalls Industries

7,900

1,328

KEYW Holding (1)(2)

6,000

60

11,300

350

Moog, Class A (2)

6,830

368

National Presto (1)

2,100

198

Orbital ATK (1)

9,221

785

Spirit AeroSystems Holdings, Class A (1)(2)

17,400

748

TASER International (1)(2)

14,760

367

Teledyne Technologies (2)

8,700

862

Triumph Group (1)

7,700

273

Vectrus (2)

5,444

155

(Cost and value in $000s)

Hexcel

KLX (1)(2)

10,458 Air Freight & Logistics 0.2% Atlas Air Worldwide (1)(2)

3,600

149

Forward Air

4,885

217

Hub Group, Class A (2)

6,400

246

Park Ohio Holdings

4,600

130

XPO Logistics (1)(2)

19,000

499 1,241

Airlines 0.4% Alaska Air Group (1)

6,000

350

Allegiant Travel (1)

4,000

606

Hawaiian Airlines (1)(2)

6,300

239

55,700

922

2,530

67

12,200

547

8,226

338

JetBlue Airways (2) SkyWest (1) Spirit Airlines (1)(2) United Continental (1)(2)

3,069 Building Products 1.0% A.O. Smith

12,780

1,126

AAON (1)

11,590

319

8,800

408

Apogee Enterprises (1)

35

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

13,449

228

(Cost and value in $000s)

Armstrong Flooring (1)(2) Armstrong Worldwide Industries (1)(2) Griffon (1) Lennox International (1)

6,300

246

10,500

177

6,690

954

Masonite International (1)(2)

1,000

66

NCI Building Systems (1)(2)

16,700

267

Nortek (1)(2) Owens Corning (1) Ply Gem Holdings (1)(2)

1,900

113

19,900

1,025

1,500

22

16,840

313

Simpson Manufacturing

6,200

248

Trex (1)(2)

8,600

386

3,290

305

21,650

584

Quanex Building Products (1)

Universal Forest Products USG (1)(2)

6,787 Commercial Services & Supplies 1.8% ABM Industries

9,350

Acco Brands (2)

5,000

52

Brady, Class A

7,300

223

Brinks Company

341

9,549

272

Casella Waste Systems, Class A (2)

18,075

142

Ceco Environmental (1)

10,441

91

5,200

271

Copart (2)

19,100

936

Covanta Holding

23,604

388

6,928

460

Clean Harbors (1)(2)

Deluxe (1) Ecology & Environment, Class A (1)

205

2

6,757

130

Essendant (1)

6,346

194

Fuel Tech (2)

13,700

20

G & K Services, Class A

4,070

312

Healthcare Services (1)

18,150

751

Herman Miller

9,950

297

HNI Corporation (1)

7,080

329

Ennis Business Forms (1)

36

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

IHS (2)

12,700

1,468

InnerWorkings (2)

13,300

110

Interface

11,500

175

KAR Auction Services

26,000

1,085

(Cost and value in $000s)

Kimball International, Class B

8,690

99

18,000

437

Matthews International, Class A (1)

9,000

501

McGrath RentCorp

1,600

49

Knoll

Mobile Mini (1)

13,500

468

MSA Safety

7,200

378

Multi-Color (1)

5,212

330

Performant Financial (2)

38,000

62

R.R. Donnelley (1)

25,400

430

Rollins

13,300

389

Steelcase, Class A

12,059

164

Team (1)(2)

7,247

180

Tetra Tech (1)

10,050

309

TRC (1)(2)

15,600

99

UniFirst

2,700

312

US Ecology (1)

4,700

216

Viad

5,277

164

Waste Connections

4,587

330 12,966

Construction & Engineering 0.7% AECOM (1)(2)

23,022

731

3,150

61

Chicago Bridge & Iron

14,200

492

Comfort Systems USA

11,000

358

Dycom Industries (1)(2)

7,063

634

EMCOR Group (1)

9,860

486

Aegion (2)

Granite Construction

8,200

374

KBR (1)

17,500

232

Layne Christensen (1)(2)

19,100

155

9,950

222

Mastec (1)(2)

37

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

3,900

94

5,400

58

(Cost and value in $000s)

MYR Group (2) Northwest Pipe (1)(2) Sterling Construction (1)(2)

19,200

94

Tutor Perini (1)(2)

15,500

365

Valmont Industries (1)

4,500

609 4,965

Electrical Equipment 0.7% AZZ

10,300

618

Babcock & Wilcox Enterprises (2)

10,787

158

7,000

416

33,887

211

EnerSys FuelCell Energy (1)(2) Generac Holdings (1)(2)

6,600

231

General Cable (1)

23,700

301

Hubbell, Class B

8,333

879

LSI Industries

10,325

114

Plug Power (1)(2)

77,200

144

Powell Industries

2,300

91

Preformed Line Products Regal Beloit Sensata Technologies Holding (2) Solarcity (1)(2) Thermon Group Holdings (1)(2) Vicor (2)

100

4

6,200

341

28,400

991

5,200

124

16,300

313

7,100

72 5,008

Industrial Conglomerates 0.2% Carlisle Companies

10,620

1,122 1,122

Machinery 3.2% Accuride (2)

28,000

35

AGCO

11,250

530

7,803

312

23,500

663

5,400

303

Albany International (1) Allison Transmission Holdings Astec Industries (1)

38

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

6,200

205

Briggs & Stratton (1)

16,300

345

Chart Industries (2)

8,000

193

Clarcor

8,640

526

Colfax (1)(2)

22,600

598

Commercial Vehicle Group (1)(2)

12,500

65

8,041

456

18,842

647

(Cost and value in $000s)

Barnes Group

Crane Donaldson (1) Dynamic Materials

7,300

79

EnPro Industries (1)

5,350

238

ESCO Technologies

10,640

425

Federal Signal

12,600

162

Franklin Electric

7,400

245

Freightcar America

4,200

59

Graco

9,775

772

Graham (1)

4,250

78

Greenbrier Companies (1)

4,000

117

Harsco

13,460

89

Hillenbrand

13,850

416

Hurco Companies

5,900

164

Hyster-Yale Materials Handling

2,600

155

IDEX (1)

14,055

1,154

ITT

14,100

451

John Bean Technologies Joy Global Kennametal (1) Lincoln Electric Holdings (1) Lindsay (1)

8,272

506

25,500

539

5,800

128

12,280

726

3,150

214

Manitowoc (1)

15,400

84

Manitowoc Foodservice (2)

29,700

523

Meritor (2)

23,400

169

9,393

1,083

7,300

106

12,500

399

Middleby (1)(2) Milacron Holdings (2) Mueller Industries

39

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Mueller Water Products

51,643

590

Navistar (1)(2)

24,100

282

(Cost and value in $000s)

NN (1)

2,000

28

Nordson (1)

9,520

796

Oshkosh (1)

11,400

544

Proto Labs (1)(2)

3,500

201

RBC Bearings (2)

6,900

500

Rexnord (2)

5,600

110

19,105

284

SPX (1)(2) SPX FLOW (2)

3,405

89

Sun Hydraulics (1)

5,700

169

Tennant (1)

4,400

237

Terex

20,000

406

Timken

11,200

343

Titan International (1)

19,350

120

9,060

799

Toro TriMas (2)

9,800

176

Trinity Industries (1)

30,158

560

Wabash National (1)(2)

19,900

253

8,500

778

15,660

1,100

3,950

230

31,686

53

WABCO Holdings (2) Wabtec (1) Watts Water Technologies, Class A Westport Fuel Systems (2) Woodward

9,700

559 23,166

Marine 0.1% Genco Shipping & Trading (1)

17,992

10

Kirby (1)(2)

10,800

674

5,550

179

Matson

863 Professional Services 0.7% Advisory Board (2) CBIZ (2)

40

7,880

279

23,350

243

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

CDI

4,100

25

CEB

6,500

401

CRA International (2)

5,050

127

Exponent (1)

4,700

274

Franklin Covey (2)

5,100

78

FTI Consulting (2)

7,295

297

Heidrick & Struggles International

2,758

47

Insperity

5,250

405

Kelly Services, Class A

3,732

71

Kforce

7,756

131

(Cost and value in $000s)

Korn/Ferry

7,400

153

ManpowerGroup

12,342

794

Mastech Holdings (1)(2)

11,191

74

Navigant Consulting (2)

13,300

215

On Assignment (1)(2)

9,850

364

11,400

105

TransUnion (2)

7,200

241

TrueBlue (2)

7,800

148

WageWorks (1)(2)

7,000

419

RPX (1)(2)

4,891 Road & Rail 0.6% AMERCO (1)

900

337

ArcBest (1)

10,100

164

Avis Budget Group (2)

21,500

693

Genesee & Wyoming, Class A (1)(2)

11,518

679

Heartland Express (1)

9,623

168

Knight Transportation (1)

8,692

231

Landstar System (1)

7,400

508

14,627

882

Patriot Transportation Holding (2)

1,850

36

Roadrunner Transportation Systems (2)

8,900

67

Saia (1)(2)

8,400

211

Swift Transportation (1)(2)

9,300

143

USA Truck (1)(2)

8,300

145

Old Dominion Freight Line (2)

41

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

5,753

132

17,600

155

(Cost and value in $000s)

Werner Enterprises (1) YRC Worldwide (1)(2)

4,551 Trading Companies & Distributors 0.8% Air Lease (1)

16,000

428

Applied Industrial Technologies

6,962

314

Beacon Roofing Supply (2)

7,800

355

CAI International (2)

4,000

30

DXP Enterprises (1)(2)

3,800

57

GATX (1)

8,250

363

HD Supply Holdings (2)

24,400

850

Herc Holdings

77,300

856

Kaman

4,961

211

Lawson Products (1)(2)

5,000

99

MSC Industrial Direct

5,800

409

NOW (1)(2)

22,600

410

Rush Enterprises, Class A (2)

10,200

220

Titan Machinery (1)(2)

5,900

66

Univar (2)

8,000

151

Watsco

4,100

577

WESCO International (1)(2)

5,251

270

Willis Lease Finance (1)(2)

6,500

144 5,810

Transportation Infrastructure 0.1% Macquarie Infrastructure (1)

13,400

992 992 85,889

Total Industrials & Business Services

INFORMATION TECHNOLOGY 15.8% Communications Equipment 1.4% ADTRAN

9,573

179

Arista Networks (1)(2)

8,000

515

42

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

31,653

663

(Cost and value in $000s)

ARRIS International (1)(2) Black Box (1)

4,070

53

Brocade Communications Systems

92,314

847

CalAmp (1)(2)

16,800

249

Ciena (1)(2)

26,800

502

CommScope Holding (1)(2)

23,100

717

Comtech Telecommunications

6,060

78

Digi International (2)

9,060

97

Echostar (2)

8,744

347

Finisar (1)(2)

16,600

291

Harmonic (1)(2)

29,554

84

Infinera (1)(2)

33,200

374

InterDigital

6,360

354

10,300

101

KVH Industries (2)

7,400

57

Lumentum Holdings (2)

7,760

188

Netgear (2)

9,100

433

Ixia (2)

NetScout Systems (2)

17,400

387

Palo Alto Networks (1)(2)

14,400

1,766

PC-Tel

17,200

81

Plantronics

7,150

315

Polycom (2)

28,700

323

6,900

267

5,800

414

39,000

259

Ubiquiti Networks (1)(2) ViaSat (1)(2) Viavi Solutions (2)

9,941 Electronic Equipment, Instruments & Components 2.6% Agilysys (1)(2)

8,652

91

Anixter International (1)(2)

4,000

213

Arrow Electronics (2)

14,075

871

Avnet

20,350

824

AVX (1)

4,202

57

Badger Meter (1)

5,200

380

Belden

8,663

523

43

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

7,900

167

CDW (1)

25,800

1,034

Cognex

16,200

698

Coherent (2)

2,800

257

CTS

5,250

94

Daktronics (1)

7,600

47

Dolby Laboratories, Class A (1)

8,640

413

DTS (1)(2)

3,722

98

Electro Rent

12,000

185

Electro Scientific Industries (2)

33,200

194

Fabrinet (1)(2)

7,400

275

FARO Technologies (2)

6,800

230

10,750

1,149

(Cost and value in $000s)

Benchmark Electronics (2)

FEI Gerber Scientific, EC (2)(3) I.D. Systems (1)(2) II-VI (1)(2)

5,300

—

15,300

74

7,800

146

Ingram Micro, Class A

21,162

736

Insight Enterprises (2)

6,650

173

38,300

235

IPG Photonics (2)

7,000

560

Itron (2)

1,800

78

Jabil Circuit (1)

29,600

547

Keysight Technologies (2)

36,000

1,047

InvenSense (2)

Kimball Electronics (2)

6,517

81

Littelfuse

2,900

343

19,200

101

9,850

337

Maxwell Technologies (1)(2) Methode Electronics National Instruments (1)

17,125

469

OSI Systems (1)(2)

2,538

148

Park Electrochemical

8,300

121

PC Connection (1)

5,200

124

Plexus (1)(2)

5,560

240

QLogic (2)

15,600

230

RadiSys (2)

29,900

134

44

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

31,600

115

Rofin-Sinar Technology (1)(2)

6,800

217

Rogers (2)

3,250

199

18,200

488

ScanSource (2)

4,500

167

SigmaTron International (2)

1,000

6

Synnex (1)

4,400

417

Tech Data (2)

7,480

537

Trimble Navigation (2)

33,024

804

TTM Technologies (1)(2)

25,850

195

Universal Display (1)(2)

8,800

597

VeriFone Systems (2)

19,084

354

Vishay Intertechnology (1)

23,778

295

Vishay Precision (2)

11,383

153

9,325

467

(Cost and value in $000s)

Research Frontiers (1)(2)

Sanmina (2)

Zebra Technologies (1)(2)

18,735 Internet Software & Services 2.4% Actua (1)(2)

12,700

115

Angie's List (1)(2)

55,800

363

Blucora (2)

17,850

185

Care.com (2)

1,500

18

10,899

260

Cornerstone OnDemand (2)

9,700

369

CoStar Group (1)(2)

6,002

1,312

Demandware (2)

7,200

539

EarthLink Holdings (1)

40,940

262

Endurance International Group Holdings (1)(2)

19,000

171

8,500

283

Five9 (1)(2)

43,900

522

Gogo (1)(2)

19,900

167

GrubHub (1)(2)

13,800

429

IAC/InterActiveCorp

12,100

681

Internap (2)

31,400

65

j2 Global (1)

9,100

575

Comscore (1)(2)

Envestnet (1)(2)

45

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

20,400

3,861

LogMeIn (2)

6,000

381

Marketo (2)

11,600

404

Monster Worldwide (1)(2)

38,100

91

(Cost and value in $000s)

LinkedIn (1)(2)

New Relic (2)

8,200

241

Pandora Media (1)(2)

47,500

591

Qumu (2)

15,350

68

Rackspace Hosting (1)(2)

19,400

405

Reis

8,100

202

Shutterstock (1)(2)

6,600

302

Spark Networks (1)(2)

1,000

2

SPS Commerce (2)

6,800

412

Travelzoo (2)

9,900

79

Twitter (1)(2)

95,700

1,618

United Online (1)(2)

14,239

157

WebMD Health (1)(2)

7,956

462

XO Group (2)

2,300

40

Zillow (1)(2)

11,241

412

Zillow, Class C (2)

28,282

1,026 17,070

IT Services 2.8% Acxiom (1)(2)

18,500

407

Blackhawk Network Holdings (1)(2)

11,600

388

Booz Allen Hamilton

26,900

797

Broadridge Financial Solutions (1)

19,000

1,239

3,900

353

5,400

215

CACI International, Class A (1)(2) Cardtronics (1)(2) Ciber (2)

27,840

42

Computer Sciences

20,100

998

Convergys (1)

16,600

415

CoreLogic (2)

22,330

859

CSG Systems International (1)

11,700

472

Datalink (1)(2)

9,100

68

DST Systems

4,663

543

46

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Edgewater Technology (2)

9,767

84

EPAM Systems (2)

8,700

559

Euronet Worldwide (2)

8,350

578

22,300

26

(Cost and value in $000s)

Everi Holdings (2) EVERTEC (1)

3,000

47

First Data, Class A (1)(2)

39,000

432

FleetCor Technologies (2)

13,700

1,961

5,200

192

Gartner (2)

16,050

1,563

Genpact (2)

25,400

682

Jack Henry & Associates

13,750

1,200

Kratos Defense & Security Solutions (1)(2)

14,100

58

Leidos Holdings

10,700

512

Maximus

12,400

687

6,800

160

Perficient (2)

10,500

213

PRGX Global (2)

27,100

141

Sabre

37,900

1,015

SAIC

7,071

413

Sykes Enterprises (2)

7,640

221

Syntel (1)(2)

4,020

182

TeleTech Holdings (1)

3,490

95

Travelport Worldwide

8,400

108

Forrester Research

Neustar, Class A (2)

Unisys (1)(2)

23,500

171

Vantiv, Class A (2)

24,600

1,392

Virtusa (1)(2)

5,500

159

WEX (1)(2)

6,600

585 20,232

Semiconductor & Semiconductor Equipment 2.0% Advanced Energy Industries (2)

11,250

427

Advanced Micro Devices (1)(2)

40,300

207

Amkor Technology (2)

14,120

81

Cabot Microelectronics

5,082

215

10,300

398

Cavium (1)(2)

47

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Cirrus Logic (1)(2)

15,640

607

Cree (1)(2)

15,200

372

Cypress Semiconductor (1)

61,450

648

Diodes (1)(2)

10,250

193

DSP Group (2)

15,190

161

Entegris (1)(2)

25,977

376

Exar (1)(2)

19,650

158

Fairchild Semiconductor, Class A (2)

15,210

302

Integrated Device Technology (2)

35,600

717

Intersil Holding, Class A

30,376

411

IXYS

13,900

142

9,800

119

(Cost and value in $000s)

Kulicke & Soffa (2) Marvell Technology Group

78,200

745

Maxim Integrated Products

49,100

1,752

MaxLinear, Class A (1)(2)

12,870

231

Microsemi (1)(2)

27,423

896

MKS Instruments (1)

7,200

310

Monolithic Power Systems

2,200

150

MoSys (1)(2)

34,300

14

Nanometrics (2)

10,000

208

5,118

401

70,360

621

PDF Solutions (2)

9,701

136

Photronics (1)(2)

24,760

221

2,400

120

Rambus (1)(2)

26,400

319

Rubicon Technology (1)(2)

48,500

33

Rudolph Technologies (2)

10,600

165

Semtech (1)(2)

12,200

291

Sigma Designs (2)

33,400

215

8,800

52

NXP Semiconductors (2) ON Semiconductor (2)

Power Integrations

SunEdison Semiconductor (1)(2) Synaptics (1)(2) Teradyne Tessera Technologies

48

7,075

380

31,900

628

9,060

278

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

Ultratech (2)

5,400

124

Veeco (1)(2)

8,229

136

(Cost and value in $000s)

13,960 Software 4.2% ACI Worldwide (1)(2)

22,400

437

Ansys (1)(2)

15,531

1,409

Aspen Technology (1)(2)

15,500

624

Aware (2)

29,000

126

Blackbaud

9,100

618

Bottomline Technologies (2)

16,900

364

BroadSoft (1)(2)

10,200

418

Cadence Design Systems (1)(2)

47,917

1,164

CDK Global (1)

28,400

1,576

Commvault Systems (2)

7,200

311

Covisint (1)(2)

6,072

13

Ellie Mae (1)(2)

1,700

156

EnerNOC (1)(2)

31,200

197

Epiq Systems (1)

12,200

178

Fair Isaac (1)

4,585

518

FireEye (1)(2)

26,400

435

Fortinet (2)

25,600

809

Guidewire Software (1)(2)

12,500

772

Imperva (1)(2)

7,100

305

Infoblox (1)(2)

15,300

287

Interactive Intelligence (1)(2)

6,254

256

Manhattan Associates (1)(2)

18,840

1,208

Mentor Graphics

15,080

321

MicroStrategy (2)

1,906

334

Mobile Iron (1)(2)

10,000

30

9,500

234

23,500

137

9,100

662

Nuance Communications (1)(2)

39,411

616

Pegasystems (1)

10,300

278

Monotype Imaging Holdings NetSol Technologies (2) NetSuite (1)(2)

49

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

9,100

250

Proofpoint (1)(2)

11,000

694

Pros Holdings (1)(2)

10,900

190

PTC (1)(2)

19,900

748

Qlik Technologies (2)

9,300

275

Qualys (1)(2)

2,600

78

Rovi (1)(2)

16,292

255

SeaChange International (2)

16,850

54

ServiceNow (2)

29,000

1,926

Splunk (1)(2)

23,700

1,284

SS&C Technologies Holdings (1)

27,600

775

7,000

223

Synopsys (2)

28,986

1,568

Tableau Software (2)

10,800

528

7,145

271

Tangoe (2)

31,100

240

TiVo (2)

28,300

280

(Cost and value in $000s)

Progress Software (2)

Synchronoss Tech (1)(2)

Take-Two Interactive Software (1)(2)

Tyler Technologies (1)(2)

5,700

950

Ultimate Software Group (1)(2)

4,900

1,030

16,200

266

8,400

278

Vasco Data Security International (1)(2) Verint Systems (1)(2) VMware, Class A (1)(2)

10,900

624

Workday (1)(2)

21,400

1,598

Xura (2)

5,800

142

Zedge, Class B (2)

3,480

16

Zendesk (1)(2)

14,600

385

Zynga (1)(2)

46,000

115 29,836

Technology Hardware, Storage & Peripherals 0.4% 3D Systems (1)(2) Concurrent Computer (1)

12,650

173

7,800

41

Cray (1)(2)

10,577

316

Diebold (1)

12,790

318

Electronics For Imaging (1)(2)

10,300

443

50

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

3,200

11

(Cost and value in $000s)

Hutchinson Technology (2) Immersion (1)(2)

10,300

76

Intevac (2)

20,700

118

Lexmark International

11,000

415

NCR (2)

19,500

541

Nimble Storage (1)(2)

10,000

80

Silicon Graphics International (1)(2)

14,800

74 2,606 112,380

Total Information Technology

MATERIALS 4.8% Chemicals 2.5% A. Schulman

6,713

AgroFresh Solutions (1)(2)

2,000

11

American Vanguard (1)

18,266

276

Ashland (1)

13,400

1,538

Axalta Coating Systems (2)

30,700

814

Axiall

15,600

509

5,400

322

12,350

564

Balchem Cabot Calgon Carbon

164

9,800

129

28,221

1,847

Chase (1)

1,650

97

Chemours

43,700

360

Chemtura (2)

12,900

340

Ferro (2)

24,260

325

Flotek Industries (1)(2)

23,700

313

GCP Applied Technologies (2)

11,700

305

7,540

332

44,700

601

7,200

221

Celanese, Series A

H.B. Fuller (1) Huntsman Koppers (1)(2) Kronos Worldwide (1)

13,400

70

LSB Industries (1)(2)

19,300

233

5,910

336

Minerals Technologies

51

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

1,300

539

Olin (1)

29,790

740

OMNOVA Solutions (2)

14,900

108

Platform Specialty Products (1)(2)

32,200

286

PolyOne (1)

14,930

526

Rayonier Advanced Materials (1)

18,317

249

RPM

29,000

1,448

7,100

496

(Cost and value in $000s)

NewMarket (1)

Scotts Miracle Gro (1) Senomyx (1)(2)

41,700

115

Sensient Technologies (1)

7,380

524

Stepan

5,000

298

28,000

73

TerraVia Holdings (1)(2) Tredegar (1)

4,100

66

Valspar

12,900

1,394

W. R. Grace (1)

11,700

856

6,142

264

Westlake Chemical

17,689 Construction Materials 0.2% Eagle Materials

10,370

800

Headwaters (1)(2)

22,600

405

Summit Materials, Class A

21,238

435 1,640

Containers & Packaging 0.9% AptarGroup (1)

10,260

812

Bemis

16,100

829

Berry Plastics (1)(2)

18,200

707

Crown Holdings (2)

19,150

970

Graphic Packaging Holding (1)

42,413

532

4,900

183

100

5

Greif Greif, Class B (1) Myers Industries Packaging Corporation of America Silgan Holdings

52

5,315

77

15,755

1,055

7,820

402

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

15,887

789

(Cost and value in $000s)

Sonoco Products

6,361 Metals & Mining 0.9% Allegheny Technologies (1)

18,900

241

Carpenter Technology (1)

14,200

468

Commercial Metals (1)

31,200

527

Compass Minerals (1)

5,800

430

79,700

286

Haynes International (1)

3,300

106

Kaiser Aluminum

3,500

317

Materion (1)

7,600

188

Reliance Steel & Aluminum

13,900

1,069

Royal Gold (1)

11,150

803

Steel Dynamics

32,328

792

Stillwater Mining (1)(2)

40,017

475

SunCoke Energy (1)

19,300

112

TimkenSteel

10,800

104

Gold Resource (1)

Universal Stainless & Alloy Products (1)(2)

2,700

29

Worthington Industries (1)

8,563

362 6,309

Paper & Forest Products 0.3% Boise Cascade (2)

6,600

151

Clearwater Paper (2)

4,588

300

Deltic Timber (1)

1,700

114

15,816

554

7,100

139

Kapstone Paper & Packaging (1)

23,800

310

Louisiana Pacific (1)(2)

41,900

727

Rentech (1)(2)

12,450

30

5,600

29

Domtar Glatfelter

Resolute Forest Products (1)(2)

2,354 34,353

Total Materials

53

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

819

—

(Cost and value in $000s)

MISCELLANEOUS 0.0% Miscellaneous 0.0% Biotime, Warrants, 10/1/18 (1)(2)

—

Total Miscellaneous

TELECOMMUNICATION SERVICES 1.0% Diversified Telecommunication Services 0.5% Cogent Communications Holdings (1)

9,500

381

Consolidated Communications (1)

14,825

404

General Communication, Class A (1)(2)

13,970

221

IDT, Class B

10,442

148

SBA Communications (2)

19,200

2,072 3,226

Wireless Telecommunication Services 0.5% Shenandoah Telecomm

12,600

Sprint (1)(2)

71,000

322

T-Mobile US (1)(2)

49,600

2,146

Telephone & Data Systems

18,885

560

2,993

118

U.S. Cellular (1)(2)

492

3,638 6,864

Total Telecommunication Services

UTILITIES 3.6% Electric Utilities 1.2% ALLETE (1)

6,482

419

Avangrid

2,300

106

El Paso Electric (1)

8,300

392

Genie Energy, Class B (1)(2)

16,842

114

Great Plains Energy

25,333

770

Hawaiian Electric Industries

17,800

584

IdaCorp ITC Holdings

54

8,110

660

25,100

1,175

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

9,050

512

30,500

999

7,250

243

PNM Resources

22,219

787

Portland General Electric (1)

14,800

653

Westar Energy (1)

21,450

1,203

(Cost and value in $000s)

MGE Energy (1) OGE Energy Otter Tail

8,617 Gas Utilities 1.4% Atmos Energy

16,760

Chesapeake Utilities

1,363

5,500

364

National Fuel Gas Company (1)

18,830

1,071

New Jersey Resources

16,450

634

Northwest Natural Gas

7,490

485

ONE Gas

15,500

1,032

Piedmont Natural Gas

12,900

776

Questar

24,900

632

8,586

208

11,640

368

4,400

346

RGC Resources South Jersey Industries (1) Southwest Gas Spire (1) UGI Washington Gas Light

9,310

660

24,990

1,131

9,500

672 9,742

Independent Power & Renewable Electricity Producers 0.2% Calpine (2)

53,100

783

NRG Yield, Class C (1)

19,400

302

6,800

298

18,000

196

Ormat Technologies (1) TerraForm Power, A Shares (1)

1,579 Multi-Utilities 0.5% Avista (1)

8,490

380

Black Hills (1)

8,240

520

37,091

890

MDU Resources (1)

55

T. Rowe Price Extended Equity Market Index Fund



Shares/Par

$ Value

11,000

694

4,100

175

13,349

703

(Cost and value in $000s)

NorthWestern Unitil Vectren

3,362 Water Utilities 0.3% American States Water Company

9,800

430

Aqua America (1)

27,232

971

California Water Service Group (1)

11,800

412

6,050

340

Connecticut Water Service

2,153 25,453

Total Utilities

676,091

Total Common Stocks (Cost $475,228)

SHORT-TERM INVESTMENTS 5.0% Money Market Funds 4.7% T. Rowe Price Reserve Investment Fund, 0.32% (4)(5)

33,532,170

33,532 33,532

U.S. Treasury Obligations 0.3% U.S. Treasury Bills, 0.293%, 7/28/16 U.S. Treasury Bills, 0.391%, 10/20/16 (6)

50,000

50

2,100,000

2,098 2,148 35,680

Total Short-Term Investments (Cost $35,680)

SECURITIES LENDING COLLATERAL 17.1% Investments in a Pooled Account through Securities Lending Program with State Street Bank and Trust Company 17.1% Short-Term Funds 17.1% T. Rowe Price Short-Term Reserve Fund, 0.33% (4)(5)

56

12,207,335

122,073

T. Rowe Price Extended Equity Market Index Fund



$ Value

(Cost and value in $000s)

Total Investments through Securities Lending Program with State Street Bank and Trust Company

122,073

Total Securities Lending Collateral (Cost $122,073)

122,073

Total Investments in Securities 117.0% of Net Assets (Cost $632,982) ‡ (1) (2) (3) (4) (5) (6)

REIT EC

$

833,844

Shares/Par are denominated in U.S. dollars unless otherwise noted. All or a portion of this security is on loan at June 30, 2016 -- total value of such securities at period-end amounts to $120,445. See Note 4. Non-income producing Level 3 in fair value hierarchy. See Note 2. Seven-day yield Affiliated Company At June 30, 2016, all or a portion of this security is pledged as collateral and/or margin deposit to cover future funding obligations. A domestic Real Estate Investment Trust whose distributions pass-through with original tax character to the shareholder Escrow CUSIP; represents a beneficial interest in a residual pool of bankruptcy assets; the amount and timing of future distributions, if any, is uncertain.

57

T. Rowe Price Extended Equity Market Index Fund



Futures Contracts ($000s)

Contract Value

Expiration Long, 284 Russell 2000 Mini Index contracts

9/16

Long, 28 S&P Mid 400 E-Mini Index contracts

9/16

$

32,586

Unrealized Gain (Loss) $

4,180

(63)

Net payments (receipts) of variation margin to date Variation margin receivable (payable) on open futures contracts

58

(46)

708 $

599

T. Rowe Price Extended Equity Market Index Fund



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 which is under common ownership or control. The following securities were considered affiliated companies for all or some portion of the six months ended June 30, 2016. Purchase and sales cost and investment income reflect all activity for the period then ended. Purchase Cost

Affiliate T. Rowe Price Reserve Investment Fund T. Rowe Price Short-Term Reserve Fund

Sales Cost

Investment Income

¤

¤$

¤

¤

Totals

53 $ —^

$

53 $

Value 6/30/16

Value 12/31/15

33,532 $

36,756

122,073

130,893

155,605 $

167,649

¤ Purchase and sale information not shown for cash management funds. ^ Excludes earnings on securities lending collateral, which are subject to rebates and fees as described in Note 4.

Amounts reflected on the accompanying financial statements include the following amounts related to affiliated companies: Investment in securities, at cost

$

Dividend income Interest income

155,605 53 —

Investment income

$

53

Realized gain (loss) on securities

$

—

Capital gain distributions from mutual funds

$

—

The accompanying notes are an integral part of these financial statements.

59

T. Rowe Price Extended Equity Market Index Fund Unaudited

June 30, 2016

S tatement of A ssets and L iabilities ($000s, except shares and per share amounts)

Assets Investments in securities, at value (cost $632,982)

$

Receivable for investment securities sold

833,844 5,849

Dividends receivable

837

Variation margin receivable on futures contracts

599

Receivable for shares sold

267

Other assets

53

Total assets

841,449

Liabilities Obligation to return securities lending collateral

122,073

Payable for investment securities purchased

5,801

Payable for shares redeemed

331

Investment management and administrative fees payable

274

Other liabilities

209

Total liabilities

128,688

NET ASSETS

$

712,761

$

4,051

Net Assets Consist of: Undistributed net investment income Accumulated undistributed net realized gain

30,065

Net unrealized gain

200,753

Paid-in capital applicable to 30,231,909 shares of $0.0001 par value capital stock outstanding; 1,000,000,000 shares of the Corporation authorized

477,892

NET ASSETS

$

712,761

NET ASSET VALUE PER SHARE

$

23.58

The accompanying notes are an integral part of these financial statements.

60

T. Rowe Price Extended Equity Market Index Fund Unaudited

S tatement of O perations ($000s)

6 Months Ended 6/30/16

Investment Income (Loss) Income Dividend Securities lending

$

Total income

4,403 410 4,813

Expenses Investment management and administrative expense

1,195

Net investment income

3,618

Realized and Unrealized Gain / Loss Net realized gain (loss) Securities Futures

24,781 1,769

Net realized gain

26,550

Change in net unrealized gain / loss Securities Futures

(14,712) (578)

Change in net unrealized gain / loss

(15,290)

Net realized and unrealized gain / loss INCREASE IN NET ASSETS FROM OPERATIONS

The accompanying notes are an integral part of these financial statements.

61

11,260 $

14,878

T. Rowe Price Extended Equity Market Index Fund Unaudited

S tatement of C hanges in N et A ssets ($000s)

6 Months Ended 6/30/16

Year Ended 12/31/15

Increase (Decrease) in Net Assets Operations Net investment income Net realized gain Change in net unrealized gain / loss Increase (decrease) in net assets from operations

$

Distributions to shareholders Net investment income Net realized gain Decrease in net assets from distributions Capital share transactions* Shares sold Distributions reinvested Shares redeemed Redemption fees received Increase (decrease) in net assets from capital share transactions

3,618 26,550 (15,290)

$

7,411 23,673 (56,937)

14,878

(25,853)

– – –

(6,626) (26,806) (33,432)

39,462 – (66,126) 8

138,532 31,475 (120,176) 11

(26,656)

49,842

(11,778) 724,539

(9,443) 733,982

Net Assets Decrease during period Beginning of period End of period

$

Undistributed net investment income

*Share information Shares sold Distributions reinvested Shares redeemed Increase (decrease) in shares outstanding

The accompanying notes are an integral part of these financial statements.

62

712,761 4,051

1,796 – (2,979) (1,183)

$

724,539 433

5,451 1,385 (4,768) 2,068

T. Rowe Price Extended Equity Market Index Fund Unaudited

June 30, 2016

N otes to F inancial S tatements

T. Rowe Price Index Trust, Inc. (the corporation), is registered under the Investment Company Act of 1940 (the 1940 Act). The Extended Equity Market Index Fund (the fund) is a diversified, open-end management investment company established by the corporation. The fund incepted on January 30, 1998. The fund seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization U.S. stocks. 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  Income and expenses are recorded on the accrual basis. Premiums and discounts on debt securities are amortized for financial reporting purposes. Dividends received from mutual fund investments are reflected as dividend income; capital gain distributions, if any, are reflected as realized gain/loss. Earnings on investments recognized as partnerships for federal income tax purposes reflect the tax character of such earnings. Dividend income and capital gain distributions are recorded on the ex-dividend date. Income tax related interest and penalties, if incurred, would be recorded as income tax expense. Investment transactions are accounted for on the trade date. Realized gains and losses are reported on the identified cost basis. Distributions from REITs are initially recorded as dividend income and, to the extent such represent a return of capital or capital gain for tax purposes, are reclassified when such information becomes available. Income distributions are declared and paid annually. Distributions to shareholders are recorded on the ex-dividend date. Capital gain distributions, if any, are generally declared and paid by the fund annually.

63

T. Rowe Price Extended Equity Market Index Fund

Redemption Fees  A 0.5% fee is assessed on redemptions of fund shares held

for 90 days or less to deter short-term trading and to protect the interests of long-term shareholders. Redemption fees are withheld from proceeds that shareholders receive from the sale or exchange of fund shares. The fees are paid to the fund and are recorded as an increase to paid-in capital. The fees may cause the redemption price per share to differ from the net asset value per share. Note 2 - VALUATION

The fund’s financial instruments are valued and its 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. Fair Value  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) has been established 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 procedures to value securities; determines pricing techniques, sources, and persons eligible to effect fair value pricing actions; oversees the selection, services, and performance of pricing vendors; oversees valuation-related business continuity practices; and provides guidance on internal controls and valuation-related matters. The Valuation Committee reports to the Board and has representation from legal, portfolio management and trading, operations, risk management, and the fund’s treasurer.

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

64

T. Rowe Price Extended Equity Market Index Fund

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 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 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. Actively traded equity securities listed on a domestic exchange generally are categorized in Level 1 of the fair value hierarchy. OTC Bulletin Board securities, certain preferred securities, and equity securities traded in inactive markets generally are categorized in Level 2 of the fair value hierarchy.

Debt securities generally are traded in the OTC market. Debt securities with remaining maturities of less than one year at the time of acquisition generally use amortized cost in local currency to approximate fair value. However, if amortized cost is deemed not to reflect fair value or the fund holds a significant

65

T. Rowe Price Extended Equity Market Index Fund

amount of such securities with remaining maturities of more than 60 days, the securities are valued at prices furnished by dealers who make markets in such securities or by an independent pricing service. Generally, debt securities are categorized in Level 2 of the fair value hierarchy. Investments in mutual funds are valued at the mutual fund’s closing NAV per share on the day of valuation and are categorized in Level 1 of the fair value hierarchy. Financial futures contracts are valued at closing settlement prices and are categorized in Level 1 of the fair value hierarchy. 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. Thinly traded financial instruments and those for which the above valuation procedures are inappropriate or are deemed not to reflect fair value are stated at fair value as determined in good faith by the Valuation Committee. 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. Subject to oversight by the Board, the Valuation Committee regularly makes good faith judgments to establish and adjust the fair valuations of certain securities as events occur and circumstances warrant. For instance, in determining the fair value of an equity investment with limited market activity, such as a private placement or a thinly traded public company stock, the Valuation Committee considers a variety of factors, which may include, but are not limited to, the issuer’s business prospects, its financial standing and performance, recent investment transactions in the issuer, new rounds of financing, negotiated transactions of significant size between other investors in the company, relevant market valuations of peer companies, strategic events affecting the company, market liquidity for the issuer, and general economic conditions and events. In consultation with the investment and pricing teams, the Valuation Committee will determine an appropriate valuation technique based on available information, which may include both observable and unobservable inputs. The Valuation Committee typically will afford greatest weight to actual prices in arm’s length transactions, to the extent they represent

66

T. Rowe Price Extended Equity Market Index Fund

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; 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 issue. 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. Depending on the relative significance of unobservable inputs, including the valuation technique(s) used, fair valued securities may be categorized in Level 2 or 3 of the fair value hierarchy. Valuation Inputs  The following table summarizes the fund’s financial instruments, based on the inputs used to determine their fair values on June 30, 2016: ($000s)

Investments in Securities, except:

$

Common Stocks Short-Term Investments Total Securities Futures Total

$

Level 1

Level 2

Level 3

Quoted Prices

Significant Observable Inputs

Significant Unobservable Inputs

122,073 $

—$

—$

Total Value

122,073

675,843

33

215

676,091

33,532

2,148

—

35,680

831,448

2,181

215

833,844

599

—

—

599

832,047 $

2,181 $

215 $

834,443

There were no material transfers between Levels 1 and 2 during the six months ended June 30, 2016.

67

T. Rowe Price Extended Equity Market Index Fund

Following is a reconciliation of the fund’s Level 3 holdings for the six months ended June 30, 2016. Gain (loss) reflects both realized and change in unrealized gain/loss on Level 3 holdings during the period, if any, and is included on the accompanying Statement of Operations. The change in unrealized gain/loss on Level 3 instruments held at June 30, 2016, totaled $6,000 for the six months ended June 30, 2016. Beginning Balance 1/1/16

($000s)

Gain (Loss) During Period

Ending Balance 6/30/16

Investments in Securities Common Stock

$

235 $

(20) $

215

Note 3 - derivative instruments

During the six months ended June 30, 2016, 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, such as seeking 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, 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. The fund at all times maintains sufficient cash reserves, liquid assets, or other SEC-permitted asset types to cover its settlement obligations under open derivative contracts. 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

68

T. Rowe Price Extended Equity Market Index Fund

instruments against the right to reclaim or obligation to return collateral. As of June 30, 2016, the fund held equity futures with cumulative unrealized loss of $109,000; the value reflected on the accompanying Statement of Assets and Liabilities is the related unsettled variation margin. Additionally, during the six months ended June 30, 2016, the fund recognized $1,769,000 of realized gain Futures and a $(578,000) change in unrealized gain/loss on Futures related to its investments in equity derivatives; such amounts are included on the accompanying Statement of Operations. Counterparty Risk and Collateral  The fund invests in exchange-traded 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 equal to a certain percentage of the contract value (margin requirement), and the margin requirement must be maintained over the life of the contract. Each clearing broker, 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 and currencies posted by the fund are reflected as cash deposits in the accompanying financial statements and generally are 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. As of June 30, 2016, securities valued at $1,798,000 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 value of the underlying financial instrument. Variation margin is recorded as unrealized gain or loss until the contract is closed. The value of

69

T. Rowe Price Extended Equity Market Index Fund

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. 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 six months ended June 30, 2016, the volume of the fund’s activity in futures, based on underlying notional amounts, was generally between 5% and 6% 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 brokers 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, valued at 102% to 105% of the value of the securities on loan. 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 by the lending agent(s) 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

70

T. Rowe Price Extended Equity Market Index Fund

with cash collateral are reflected in the accompanying financial statements, but collateral received in the form of securities is not. At June 30, 2016, the value of loaned securities was $120,445,000; the value of cash collateral and related investments was $122,073,000. Other  Purchases and sales of portfolio securities other than short-term securities

aggregated $65,196,000 and $83,247,000, respectively, for the six months ended June 30, 2016. Note 5 - Federal Income Taxes

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. Financial reporting records are adjusted for permanent book/tax differences to reflect tax character but are not adjusted for temporary differences. The amount and character of tax-basis distributions and composition of net assets are finalized at fiscal year-end; accordingly, tax-basis balances have not been determined as of the date of this report. At June 30, 2016, the cost of investments for federal income tax purposes was $634,806,000. Net unrealized gain aggregated $198,929,000 at period-end, of which $237,209,000 related to appreciated investments and $38,280,000 related to depreciated investments. Note 6 - 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). The investment management and administrative agreement between the fund and Price Associates provides for an all-inclusive annual fee equal to 0.35% of the fund’s average daily net assets. The fee is computed daily and paid monthly. The all-inclusive fee covers investment management, shareholder servicing, transfer agency, accounting, and custody services provided to the fund, as well as fund directors’ fees and expenses. Interest, taxes, brokerage commissions, and extraordinary expenses are paid directly by the fund.

71

T. Rowe Price Extended Equity Market Index Fund

Additionally, the fund is one of several mutual funds in which certain college savings plans managed by Price Associates may invest. As approved by the fund’s Board of Directors, shareholder servicing costs associated with each college savings plan are allocated to the fund in proportion to the average daily value of its shares owned by the college savings plan. Shareholder servicing costs allocated to the fund are borne by Price Associates, pursuant to the fund’s all-inclusive fee agreement. At June 30, 2016, approximately 1% of the outstanding shares of the fund were held by college savings plans. The fund may invest in the T. Rowe Price Reserve Investment Fund, the T. Rowe Price Government Reserve Investment Fund, or the T. Rowe Price Short-Term Reserve Fund (collectively, the Price Reserve Investment Funds), open-end management investment companies managed by Price Associates and considered affiliates of the fund. The Price Reserve Investment 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. The Price Reserve Investment 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 independent current market price of the security. During the six months ended June 30, 2016, the fund had no purchases or sales cross trades with other funds or accounts advised by Price Associates.

72

T. Rowe Price Extended Equity Market Index Fund

I nformation on P roxy V oting P olicies, P rocedures, and R ecords A description of the policies and procedures used by T. Rowe Price funds and portfolios 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://www3.troweprice.com/usis/corporate/en/utility/policies.html and scroll down to the section near the bottom of the page that says, “Proxy Voting Policies.” Click on the Proxy Voting Policies link 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.

H ow to O btain Q uarterly P ortfolio H oldings The fund files a complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available electronically on the SEC’s website (sec.gov); hard copies may be reviewed and copied at the SEC’s Public Reference Room, 100 F St. N.E., Washington, DC 20549. For more information on the Public Reference Room, call 1-800-SEC-0330.

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T. Rowe Price Extended Equity Market Index Fund

A pproval of I nvestment M anagement A greement On March 11, 2016, the fund’s Board of Directors (Board), including a majority of the fund’s independent directors, approved the continuation of the investment management agreement (Advisory Contract) between the fund and its investment advisor, T. Rowe Price Associates, Inc. (Advisor). In connection with its deliberations, the Board requested, and the Advisor provided, such information as the Board (with advice from independent legal counsel) deemed reasonably necessary. The Board considered a variety of factors in connection with its review of the Advisory Contract, also taking into account information provided by the Advisor during the course of the year, as discussed below: Services Provided by the Advisor The Board considered the nature, quality, and extent of the services provided to the fund by the Advisor. These services included, but were not limited to, directing the fund’s investments in accordance with its investment program and the overall management of the fund’s portfolio, as well as a variety of related activities such as financial, investment operations, and administrative services; compliance; maintaining the fund’s records and registrations; and shareholder communications. The Board also reviewed the background and experience of the Advisor’s senior management team and investment personnel involved in the management of the fund, as well as the Advisor’s compliance record. The Board concluded that it was satisfied with the nature, quality, and extent of the services provided by the Advisor. Investment Performance of the Fund The Board reviewed the fund’s three-month, one-year, and year-by-year returns, as well as the fund’s average annualized total returns over the 3-year, 5-year, and 10-year periods, and compared these returns with a wide variety of comparable performance measures and market data, including those supplied by Lipper and Morningstar, which are independent providers of mutual fund data. On the basis of this evaluation and the Board’s ongoing review of investment results, and factoring in the relative market conditions during certain of the performance periods, the Board concluded that the fund’s performance was satisfactory. Costs, Benefits, Profits, and Economies of Scale The Board reviewed detailed information regarding the revenues received by the Advisor under the Advisory Contract and other benefits that the Advisor (and its affiliates) may have realized from its relationship with the fund, including any research received under “soft dollar” agreements and commission-sharing arrangements with broker-dealers. The Board considered that the Advisor may receive some benefit from soft-dollar arrangements pursuant to which research is received from broker-dealers that execute the applicable fund’s portfolio transactions. The Board received information on the estimated costs incurred and profits realized by the Advisor from managing T. Rowe Price mutual funds. The Board also reviewed estimates of the profits realized from managing the fund in particular, and the Board concluded that the Advisor’s profits were reasonable in light of the services provided to the fund.

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T. Rowe Price Extended Equity Market Index Fund

A pproval of I nvestment M anagement A greement ( continued ) The Board also considered whether the fund benefits under the fee levels set forth in the Advisory Contract from any economies of scale realized by the Advisor. The Board noted that, under the Advisory Contract, the fund pays the Advisor a single fee, or all-inclusive management fee, which is based on the fund’s average daily net assets. The all-inclusive management fee includes investment management services and provides for the Advisor to pay all of the fund’s ordinary, recurring operating expenses except for interest, taxes, portfolio transaction fees, and any nonrecurring extraordinary expenses that may arise. The Board noted that, effective August 1, 2015, the fund’s all-inclusive management fee rate was lowered from 0.40% to 0.35%. The Board concluded that, based on the profitability data it reviewed and consistent with this all-inclusive management fee structure, the Advisory Contract provided for a reasonable sharing of any benefits from economies of scale with the fund. Fees The Board was provided with information regarding industry trends in management fees and expenses, and the Board reviewed the fund’s management fee rate and total expense ratio in comparison with fees and expenses of other comparable funds based on information and data supplied by Lipper. For these purposes, the Board assumed that the fund’s management fee rate was equal to the all-inclusive management fee rate less the fund’s actual operating expenses, and the total expense ratio was equal to the all-inclusive management fee rate. The information provided to the Board indicated that the fund’s management fee rate and total expense ratio were above the median for certain groups of comparable funds and at or below the median for other groups of comparable funds. The Board also reviewed the fee schedules for institutional accounts (including subadvised mutual funds) and private accounts with similar mandates that are advised or subadvised by the Advisor and its affiliates. Management provided the Board with information about the Advisor’s responsibilities and services provided to subadvisory and other institutional account clients, including information about how the requirements and economics of the institutional business differ from those of the Advisor’s proprietary mutual fund business. The Board considered information showing that the Advisor’s proprietary mutual fund business is generally more complex from a business and compliance perspective than its institutional account business, and considered various other relevant factors, including the broader scope of operations and oversight, more extensive shareholder communication infrastructure, greater asset flows, heightened business risks, and differences in applicable laws and regulations associated with the Advisor’s proprietary mutual fund business. In assessing the reasonableness of the fund’s management fee rate, the Board considered the differences in the nature of the services required for the Advisor to manage its proprietary mutual fund business versus managing a discrete pool of assets as a subadvisor to another institution’s mutual fund or for another institutional account, and the degree to which the Advisor performs significant additional services and assumes greater risk in managing the fund and other T. Rowe Price mutual funds than it does for institutional account clients.

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T. Rowe Price Extended Equity Market Index Fund

A pproval of I nvestment M anagement A greement ( continued ) On the basis of the information provided and the factors considered, the Board concluded that the fees paid by the fund under the Advisory Contract are reasonable. Approval of the Advisory Contract As noted, the Board approved the continuation of the Advisory Contract. No single factor was considered in isolation or to be determinative to the decision. Rather, the Board concluded, in light of a weighting and balancing of all factors considered, that it was in the best interests of the fund and its shareholders for the Board to approve the continuation of the Advisory Contract (including the fees to be charged for services thereunder). The independent directors were advised throughout the process by independent legal counsel.

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T. Rowe Price Mutual Funds This page contains supplementary information that is not part of the shareholder report.

STOCK FUNDS

BOND FUNDS

MONEY MARKET FUNDS (cont.)

Domestic

Domestic Taxable

Tax-Free

Corporate Income Credit Opportunities Floating Rate GNMA High Yield‡ Inflation Protected Bond Limited Duration Inflation Focused Bond New Income Short-Term Bond Ultra Short-Term Bond U.S. Bond Enhanced Index U.S. Treasury Intermediate U.S. Treasury Long-Term

California Tax-Free Money1 Maryland Tax-Free Money1 New York Tax-Free Money1 Summit Municipal Money Market1 Tax-Exempt Money1

Blue Chip Growth Capital Appreciation‡ Capital Opportunity Diversified Mid-Cap Growth Dividend Growth Equity Income Equity Index 500 Extended Equity Market Index Financial Services Growth & Income Growth Stock Health Sciences‡ Media & Telecommunications Mid-Cap Growth‡ Mid-Cap Value‡ New America Growth New Era New Horizons‡ QM U.S. Small & Mid-Cap Core Equity QM U.S. Small-Cap Growth Equity QM U.S. Value Equity Real Estate Science & Technology Small-Cap Stock‡ Small-Cap Value Tax-Efficient Equity Total Equity Market Index U.S. Large-Cap Core Value

ASSET ALLOCATION FUNDS Balanced Global Allocation Personal Strategy Balanced Personal Strategy Growth Personal Strategy Income Real Assets Spectrum Growth Spectrum Income Spectrum International Target Date Fundsˆ

Domestic Tax-Free California Tax-Free Bond Georgia Tax-Free Bond Intermediate Tax-Free High Yield Maryland Short-Term Tax-Free Bond Maryland Tax-Free Bond New Jersey Tax-Free Bond New York Tax-Free Bond Summit Municipal Income Summit Municipal Intermediate Tax-Free High Yield Tax-Free Income Tax-Free Short-Intermediate Virginia Tax-Free Bond

MONEY MARKET FUNDS Taxable Cash Reserves1 Government Money2 U.S. Treasury Money2

INTERNATIONAL/GLOBAL FUNDS Stock Africa & Middle East Asia Opportunities Emerging Europe Emerging Markets Stock Emerging Markets Value Stock European Stock Global Consumer Global Growth Stock Global Industrials Global Real Estate Global Stock Global Technology International Concentrated Equity International Discovery International Equity Index International Growth & Income International Stock Japan Latin America New Asia Overseas Stock QM Global Equity

Bond Emerging Markets Bond Emerging Markets Corporate Bond Emerging Markets Local Currency Bond Global High Income Bond Global Multi-Sector Bond Global Unconstrained Bond International Bond

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. ‡Closed  to new investors except for a direct rollover from a retirement plan into a T. Rowe Price IRA invested in this fund. ˆThe Target Date Funds are inclusive of the Retirement Funds, the Target Funds, and the Retirement Balanced Fund.

Retail Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Beginning October 14, 2016, the Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. 2 Government Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. 1

T. Rowe Price Investment Services, Inc. 100 East Pratt Street Baltimore, MD 21202 F124-051 8/16