Message to Shareholders regarding E.O. 14032

June 9, 2021

To all shareholders,

On June 3, 2021, the Biden Administration issued Executive Order 14032 (“E.O.”) in response to the threat posed by the military-industrial complex of the People’s Republic of China (“China”). The E.O. prohibits U.S. persons from engaging in the purchase or sale of securities in 59 Chinese companies that are listed in an Annex to the E.O., as well as any person that is determined to operate or have operated in China’s defense and related material sector or the surveillance technology sector. The E.O. was designed to prevent U.S. investment from benefiting the Chinese defense and surveillance technology sectors and is intended to cut off China’s military-industrial complex from access to U.S. capital markets. It amends and expands Executive Order 13959, which was issued by Trump Administration on November 12, 2020 and targeted Communist Chinese Military Companies (“CCMCs”).

Matthews Asia complies with Executive Order 14032 and is monitoring the situation closely to ensure it continues to comply with the E.O. We will ensure that our Funds available for purchase meet the requirements of the E.O. and that no U.S. person would be in breach of the E.O. as a result of continuing as a shareholder of our Funds or purchasing, distributing or offering our Funds.

Matthews Asia