Matthews Announces Transition in Controlling Equity Ownership

Firm Also Appoints Veteran Portfolio Manager Kathy Xu

San Francisco, Feb. 13, 2026 .— Matthews International Capital Management, LLC (“Matthews”), a privately owned boutique investment management firm focused on Asia and Emerging Markets, today announced that G. Paul Matthews, who founded the firm in 1991, and Mark Headley, who joined Matthews soon after its founding and returned as Executive Chairman last year, will acquire controlling ownership interest of the firm subject to customary closing conditions, including applicable board, regulatory and shareholder approvals.

Alongside this, as the firm’s ownership transitions, several of the firm’s long-time partners will be increasing their equity ownership, reflecting their shared commitment to the firm and its future.

“It is a privilege to become a controlling shareholder of Matthews, alongside my longtime partner and colleague Paul Matthews,” said Mark Headley. “This decision reflects the deep conviction we share in the future of the firm we have built together and our continued commitment to serving clients with independence and focus. The appointments of Tiffany Hsiao last fall and now Kathy Xu as Portfolio Managers strengthens the firm’s investment leadership.”

Kathy Xu is joining Matthews and will be based in Hong Kong. She was most recently with APG Asset Management, where she served as Director of North Asia and Senior Portfolio Manager of China equities. Earlier in her career, she served as an investment manager at Aberdeen Asset Management (now abrdn), specializing in Chinese A Shares. Kathy will join Mark Headley-who was named Portfolio Manager on the Matthews Pacific Tiger Fund and the Matthews Pacific Tiger Active ETF today-effective March 9, 2026, and will work alongside him on the Fund and Active ETF.

“I’m delighted that Matthews will once again become a truly independent company under Mark’s leadership. In an increasingly volatile world, I believe the case for international diversification is as compelling today as it was 35 years ago. I’m proud of our history and confident in the continued evolution of our business,” said Paul Matthews.

Matthews has built a differentiated investment firm rooted in its longstanding focus on Asia and has expanded over time to include Global Emerging Markets. This geographic expertise and focus, together with a client-centric culture, continues to differentiate the firm today.

About Matthews

Matthews is an independent, privately owned boutique investment manager founded in 1991 on the belief that Asia and Global Emerging Markets offer exceptional long-term growth potential. The firm’s investment offerings provide a broad range of choices for building a global portfolio that includes exposure to some of the world’s fastest-growing regions. Matthews manages assets on behalf of institutions, advisors and individual investors globally through vehicles including Mutual Funds, Active ETFs and SMAs.

For more information, please visit matthewsasia.com.

Media Contact:
Dukas Linden PR
Sarah Lazarus
+1 617-335-7823
sarah@dlpr.com

Investors should consider the investment objectives, risks, charges and expenses of the Matthews Asia Funds carefully before making an investment decision. A prospectus or summary prospectus with this and other information about the Funds may be obtained by calling 1.800.789.ASIA (2742) or by clicking this link https://www.matthewsasia.com/resources/docs/fund-documents/. Please read the prospectus carefully before investing. Investing involves risk. Principal loss is possible.

Past performance is no guarantee of future results. For the Fund's performance visit matthewsasia.com.

Ratings and awards referenced herein may not be representative of a positive experience by all clients invested in the Fund during the periods referenced and is not a guarantee of future performance or success. This announcement is for informational purposes only and does not, in any way, constitute investment advice or an offer to sell or a solicitation of an offer to buy any security or product. 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.

ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

Matthews is the brand for Matthews International Capital Management, LLC and its direct and indirect subsidiaries.

Matthews Asia Funds are distributed in the United States by Foreside Funds Distributors LLC and in Latin America by Picton S.A.