T. Rowe Price Tax Free High Yield Fund

Fund Holdings

Asset Allocation

% Long % Net
Cash 0.14 0.14
Stocks 0.01 0.01
Bonds 98.44 98.44
Other 0.07 0.07
Foreign Bonds 0.0 0.0
Foreign Stocks 0.0 0.0
Convertible 0.0 0.0
Preferred 1.34 1.34

Updated 12.31.2013

Top 10 Holdings

Performance as of 03.31.2014

Portfolio as of 12.31.2013

% Net Assets
Amer Airls Grp Pfd 1.34
Texas Mun Gas Acquisition & Su Sr 6.25% 1.16
New York Liberty Dev Corp Libe Lib 5.75% 1.14
New York Liberty Dev Corp Libe Se 6.375% 1.06
Metropolitan Pier & Exposition Bds 5.25% 1.03
St John Baptist Parish La Rev Rev 5.125% 0.97
Seminole Tribe Fla Spl Obl R Speci 5.25% 0.89
Virginia Small Busn Fing A Rev Bds 5% 0.86
Mashantucket Western Pequot Tr Bd 6.05% 0.83
Route 460 Fdg Corp Va Toll Rd Toll Rd 5% 0.79

Bond Ratings (%)

Updated 12.31.2013

Sector PATFX
AAA 1.18
AA 5.36
A 19.84
BBB 37.54
BB 7.52
B 6.99
Below B 1.09
Other 20.47