Message to Matthews Asia Small Companies Fund Shareholders

We are writing to inform you that, effective August 31, 2020, portfolio management responsibilities for the Matthews Asia Small Companies Fund will be assumed by Vivek Tanneeru. This appointment follows the decisions by Lead Manager Tiffany Hsiao, CFA, and Co-Manager Beini Zhou, CFA, to depart the firm in order to pursue other opportunities.

Vivek has over 15 years of experience in researching and managing regional Asia strategies across the market capitalization spectrum. Since joining Matthews Asia in 2011, Vivek has been conducting on-the-ground research into Asia's small and mid-cap universe, including in his capacity as Lead Manager of the Matthews Asia ESG Fund which has over 55% of its portfolio invested in small and mid-cap companies (as of June 30, 2020). Research of small and mid-cap companies continues to be a core part of our investment approach across all of our portfolios, particularly given that small-cap companies are generally less covered by sell-side analysts and, therefore, provide an opportunity to find attractive investment opportunities.

We are confident that in having Vivek serve in the Lead Manager position of the Matthews Asia Small Companies Fund, supported by our broader 40+ member investment team who collaborate closely across all of our strategies, we have the expertise, strength and depth to ensure a seamless transition and continued positive experience for investors in the Fund.

Finally, we would like to take this opportunity to thank Tiffany and Beini for their contributions to Matthews Asia and wish them well in their future endeavors. If you have any questions regarding the Matthews Asia Funds, please visit our website at matthewsasia.com or contact our team at globalfunds@matthewsasia.com or +1-415-954-4510.

Thank you for your continued confidence in our Asia investment strategies.

Yours truly,

William J. Hackett Chief Executive Officer Matthews Asia		Robert Horrocks, PhD Chief Investment Officer Matthews Asia

The Fund is a sub-fund of Matthews Asia Funds SICAV, an umbrella fund, with segregated liability between sub-funds, established as an open-ended investment company with variable capital and incorporated with limited liability under the laws of Luxembourg. The current prospectus, Key Investor Information Document or other offering documents (“Offering Documents”) contain this and other information and can be obtained by visiting global.matthewsasia.com.

Investing in international and emerging markets may involve additional risks, such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. In addition, single-country funds may be subject to a higher degree of market risk than diversified funds because of concentration in a specific geographic location. Investing in small- and mid-size companies is more risky and volatile than investing in large companies as they may be more volatile and less liquid than larger companies.

It is the responsibility of any persons wishing to subscribe for shares to inform themselves of and to observe all applicable laws and regulations of any relevant jurisdictions. An investment in the Matthews Asia Funds is not available in all jurisdictions. The Fund's shares may not be sold to citizens or residents of the United States or in any other state, country or jurisdiction where it would be unlawful to offer, solicit an offer for, or sell the shares. No securities commission or regulatory authority has in any way passed upon the merits of an investment in the Fund or the accuracy or adequacy of this information or the material contained herein or otherwise.