Company: CAF
Filing Date: 2025-07-02
Form Type: SC TO-C
Source: 0001104659-25-064847
Chunk: 2

Company: Morgan Stanley China A Share Fund, Inc.
Filing Date: 2025-07-02
Form: SC TO-C
Chunk 2
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 July 1, 2030).

The Fund’s Dividend Reinvestment Plan provides
that if net asset value exceeds the market price on the reinvestment date, participants will receive shares valued at market price.

For more information: 800.231.2608

If a Tender Offer is triggered, the Fund will issue a press release
announcing the Tender Offer and providing additional information about such Tender Offer. Additional terms and conditions of a Tender
Offer would also be set forth in the relevant offering materials, which would be distributed to the Fund’s shareholders. The size
of any such Tender Offer (up to 25 percent of the Fund’s then issued and outstanding shares), the price at which shares are to be
tendered and other terms and conditions of such Tender Offer would be determined by the Board of Directors in its discretion based on
its review and consideration of the then-current size of the Fund, market conditions, the ability to repatriate the necessary cash and
subject to local Chinese regulatory requirements and other factors it deems relevant.

In the event that a Tender Offer is triggered and more than 25 percent
of the Fund’s then issued and outstanding shares are tendered, the Fund will purchase its shares from tendering shareholders on
a pro rata basis (odd-lot tenders for stockholders who own fewer than 100 shares are still subject to pro ration), based on the number
of tendered shares, at a price equal to 98.5 percent of the Fund’s NAV (minus the costs and expenses related to the tender offer),
as described above.

The Fund continues to maintain a share repurchase program (the “Program”)
for purposes of enhancing stockholder value by providing the ability to repurchase shares at a discount to NAV. During the year ended
December 31, 2024, the Fund repurchased 192,335 of its shares at an average discount of 18.21% from NAV. Since the inception of the
Program, the Fund has repurchased (as of December 31, 2024) 362,922 of its shares at an average discount of 18.83% from NAV. The
Board of Directors regularly monitors the Program as part of its review and consideration of the Fund’s premium/discount history.
The Fund may only repurchase its outstanding shares at such time and in such amounts as it believes will further the accomplishment of
the foregoing objectives of the Program, subject to review by the Board of Directors and the Fund’s ability to