Fidelity Funds Please Note: Fidelity Funds is an umbrella fund with funds investing in equities, debt, money market securities and/or other instrument

Fidelity Funds Société d investissement à capital variable Established in Luxembourg Fidelity Prospectus for Hong Kong Investors A commitment to investment performance

Fidelity Funds Please Note: Fidelity Funds is an umbrella fund with funds investing in equities, debt, money market securities and/or other instruments, including derivatives. Some funds can invest in emerging market securities which may be more volatile and subject to greater political and economic risks. The funds which invest primarily in a single sector or market are subject to higher concentration risk. Some funds can invest in non-investment grade bonds which may be more volatile and subject to greater credit and liquidity risks. Some funds invest in derivative instruments and/or structured products such as assetbacked or mortgage-backed securities which can involve additional material risks such as counterparty risks or credit and liquidity risk which may lead to high risks of capital loss. Some derivative instruments and structured products may employ leverage which can cause greater volatility. In an extreme scenario, the value of the fund may be worth substantially less than the original amount you have invested and in the worst case could be worth nothing. FIL Investment Management (Hong Kong) Limited January 2017

Fidelity Funds Société d Investissement à Capital Variable 2a, rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 Tél: +352 250 404 (1) Fax: +352 26 38 39 38 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Important Changes to Fidelity Funds Global High Grade Income Fund Key Facts We are changing the name of Fidelity Funds - Global High Grade Income Fund to Fidelity Funds - Global Short Duration Income Fund. The Fund s investment objective and risk profile will change. Due to the expanded investment universe of the new strategy, we are increasing the annual management charge on A shares to 0.75%. Shareholder Choices If you agree with the change you do not need to take any action. If you do not agree with the changes this letter sets out the options available to you. 7 November 2017 Dear Shareholder, We are writing to notify you of the decision taken by the board of directors of Fidelity Funds (the Board ) to 1) change the name of Fidelity Funds Global High Grade Income Fund (the Fund ) to Fidelity Funds - Global Short Duration Income Fund with effect from 7 December 2017 or such later date as may be decided by the Board (the Effective Date ); 2) change the investment objective of the Fund on the Effective Date, as described in Appendix 1; and 3) to increase the Annual Management Fee charged on the Fund. On A shares the fee will increase from 0.50% to 0.75%, with effect on 2 April 2018 or such later date as may be decided by the Board. Our records show that you are a shareholder in the Fund (the Shareholders or you ). For more information on the impacted classes of Shares and the corresponding ISIN Codes, please refer to Appendix 2. Any terms not defined herein shall have the same meaning as in the Fidelity Prospectus for Hong Kong Investors (the Prospectus ). Change of Name and Investment objective The Fund will change its name and investment objective in response to significant appetite for Fidelity to develop a short duration fixed income product that seeks to deliver attractive income to investors whilst demonstrating low sensitivity to changes in interest rates. Bonds that exhibit low price sensitivity to interest rates are referred to as short duration bonds. After the Effective Date, the Fund will be based upon a similar investment process and strategic asset allocation to that of another fund within Fidelity Funds, namely Fidelity Funds Global Income Fund, but with a shorter duration profile. 1

The proposed changes to the strategy will result in the Fund investing across a broader fixed income universe. It will have greater flexibility to invest in investment grade corporate bonds and up to 50% of its assets in high yield bonds, including high yielding debt securities, which normally carry sub-investment grade ratings. As a result of the change to its investment objective, the Fund will change its name to better reflect the Fund s duration profile, which will cap duration at three years. In view of the proposed revised investment objectives and the enhanced investment flexibility, the Fund may be subject to additional / increased investment risks including but not limited to risks relating to investments in emerging markets, below investment grade / unrated and high yielding debt instruments, Renminbi currency risk and China fixed income instruments. Increase of Annual Management Fees The new strategy results in a high degree of active management within the portfolio, including having a wider asset mix and increased investment flexibility, as well as the ability to invest in high yield and other bonds that require a greater degree of research intensity. Today, the rate of the annual management fee per annum on the Fund stands at 0.50% for class A share classes. Due to the manner in which the Fund will be managed going forward the Board believe that it would be appropriate to increase the annual management fee to a rate of 0.75% per annum on A share classes. The effective date for the increase in annual management fees will be 2 April 2018 or such later date as may be decided by the Board. Apart from the proposed increase of the annual management fees, there are no other impacts that may materially prejudice the existing investors rights or interests as a result of the proposed changes outlined above. Costs Charges associated with the changes such as legal, regulatory and mailing charges will be borne by FIL Fund Management Limited as the Investment Manager of Fidelity Funds. The Fund will bear the market-related transaction costs associated with the rebalancing of the Fund s investment portfolio. Next Steps If you agree with the proposed changes, you do not need to take any action. If you are not in agreement with these changes, we are offering you a free switch into any other fund of Fidelity Funds available to you, or you may choose to redeem your assets from the Fund free of redemption charge. Redemptions or switches can be instructed on any valuation day until 17:00 HK time #, either on 6 December 2017 in respect of the Change of Name and Investment objective of the Fund (which will come into effect on the Effective Date) or on 30 March 2018 in respect of the Increase of Annual Management Fees (which will come into effect on 2 April 2018 or such later date as may be decided by the Board), and will normally be dealt with at the next calculated Net Asset Value. Please note, the redemption or switching of your holding may be deemed as a disposal for tax purposes. If you have any concerns about your tax position, we recommend that you seek independent tax advice. The change will be reflected in the next update to the Prospectus and the Product Key Facts Statement ( KFS ) of the Fund. The Board accepts full responsibility for the accuracy of the information contained in this letter and confirms, having made all reasonable enquiries that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. # Please note that some distributors or other intermediaries may charge additional fees (such as switching or transaction fees) or expenses at their own discretion. For further information on these please contact your financial adviser or your usual contact at the distributor / intermediary whom you transact with. 2

Any terms not defined herein shall have the same meaning as in the prospectus of Fidelity Funds. If you have any questions related to the changes or if you would like to request for a copy of the current Prospectus, the KFS of the Fund, the Articles of Incorporation, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which is also available at www.fidelity.com.hk*) or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ at +852 2629 2629, or you can write to the Hong Kong Representative at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. I would like to thank you for your investment and I look forward to helping you with future requests. If you have any questions related to these changes please contact your usual Financial Adviser or your usual Fidelity Service Centre. Yours faithfully, Jon Skillman Director * This website has not been reviewed by the Securities and Futures Commission (SFC) in Hong Kong. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 3

Appendix 1 - Investment objective changes From: Fund Name Investment Objective Notes Fidelity Funds Global High Grade Income Fund This fund seeks to provide an attractive current income by investing primarily in a worldwide diversified portfolio of high quality and short-dated bonds that are issued and denominated in approximately 10 chosen markets/currencies. High quality bonds are considered bonds that are issued by governments, quasigovernment and supranational entities with investment grade credit ratings. Reference Ccy: USD To: Fund Name Investment Objective Notes Fidelity Funds Global Short Duration Income Fund This fund seeks to deliver an attractive income whilst maintaining an average duration of investments that does not exceed three years. The fund primarily invests in a portfolio of global fixed income securities, including, but not limited to, investment grade corporate bonds and government bonds of varying maturities, and high yield bonds and emerging market debt denominated in various currencies. Emerging market debt may include investments within, although not limited to, Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East. The fund may invest into Money Market Instruments and/or other short term debt instruments including certificates of deposit, commercial paper and floating rate notes, as well as in cash and cash equivalents. The fund may invest its net assets directly in onshore China fixed income securities listed or traded on any Eligible Market in China. The portfolio seeks to maintain an overall average credit rating of investment grade, but the fund may invest up to 50% of its assets in high yield bonds. Portfolio information: The average credit rating is the weighted average of all fixed income securities credit ratings in the fund (including investments through derivatives) and excluding cash. At least 50% of the portfolio will be invested in investment grade fixed income securities, with the balance invested in, but not limited to, high yielding debt securities, which normally carry sub-investment grade ratings and emerging market debt. Such balance will not be required to meet minimum credit rating standards. Not all securities will be rated for creditworthiness by an internationally recognized rating agency. The manager is not restricted in his choice of companies either by region or country, and will choose bonds largely determined by the availability of attractive investment opportunities. Onshore China fixed income securities are listed or traded on any Eligible Market in China, and are issued by a variety of issuers such as government, quasigovernment, banks, financial institutions or other corporate entities established or incorporated in China or corporate entities with commercial activities in China. Reference Ccy: USD The fund can directly invest in onshore China fixed income securities listed or traded on any Eligible Market in China through the QFII quota of FIL Investment Management (Hong Kong) Limited. The fund may invest up to 10% of its net assets directly in onshore China fixed income securities (with aggregate exposure including direct and indirect investments up to 30% of its assets). Eligible Market in China refers to the Shanghai Stock Exchange, the Shenzhen Stock Exchange or the mainland China interbank bond market, as the case may be. This fund may invest up to 10% of its net assets in loans that comply with the criteria applicable to Money Market Instruments for the purposes of the Law of 2010 (within the 10% limit as set out under Part V, A. I 2. of the Prospectus). As rated by internationally recognised rating agencies. 4

Appendix 2 - List of ISIN Codes Classes of Shares ISIN Codes FF - Global High Grade Income Fund A-ACC-EUR LU0766124712 FF - Global High Grade Income Fund A-ACC-USD LU0390710027 FF - Global High Grade Income Fund A-MDIST-USD LU0390710613 5

On the Effective Date, the Fund s investment objective in the Prospectus will be changed as follows: From: Fund Name Fidelity Funds EURO STOXX 50 Fund Investment Objective Aims to track the performance of the EURO STOXX 50 TM Index as far as this is reasonably and legally practicable. The fund manager s policy for achieving this objective is by the utilisation of replication methodology. The fund manager will aim to hold mainly all securities that represent the EURO STOXX 50 TM Index. In order to achieve the investment objective, the fund manager will utilise stock index futures. Reference Ccy: Euro EURO STOXX 50 is a mark of STOXX LIMITED and has been licensed for certain purposes by Fidelity Funds. EURO STOXX 50 Index is owned by STOXX LIMITED. The name of the index is a service mark of STOXX LIMITED and has been licensed for certain purposes by Fidelity Funds. 2015 by STOXX LIMITED. All rights reserved. This fund will be managed by Geode Capital Management, LLC as from 3 January 2017 or such later date as decided by the Investment Manager. In the latter case the Prospectus will be amended accordingly. For further information please refer to 1.4. Additional Information. To: Fund Name Fidelity Funds EURO STOXX 50 Fund Investment Objective The fund aims to track the performance of the EURO STOXX 50 Index (before fees and expenses) thereby seeking to achieve long term capital growth. The fund uses an index tracking (also known as passive ) investment management approach whereby it aims to replicate the composition of the index. However, for reasons such as liquidity or excessive cost, it may not always be practical for the fund to invest in every company share in the index or at its weighting within the index. In order to manage the cash position, the fund may invest in collective investment schemes (such as liquidity funds), including those managed by FIL Group, in addition to money market instruments, cash and deposits. As well as investing directly in company shares, the fund will also achieve exposure indirectly through the use of derivatives for efficient portfolio management purposes, for example, at the time of cash inflows to remain fully invested or to reduce transaction costs. EURO STOXX 50 is a registered trademark of STOXX Limited and has been licensed for certain purposes by Fidelity Funds. The fund described herein is neither sponsored nor promoted, distributed or in any other manner supported by STOXX Limited and STOXX Limited does not assume any liability with respect thereto. This fund is managed by Geode Capital Management, LLC. For further information please refer to 1.4. Additional Information. 2

Consequently, the OCF for the Fund will be reduced from the Effective Date as shown below: Share Class (ISIN) A-Euro (LU0069450319) A-ACC-Euro (LU0261952682) Current Fees Fees from 1 January 2018 OCF% OCF% (Estimated) 0.35 0.30 I am taking the occasion of this letter to inform you that a new contractual obligation requires the name of the Fund to read Fidelity Funds - Euro STOXX 50 Fund instead of Fidelity Funds EURO STOXX 50 Fund and that the Notes column for the Fund has also been amended accordingly. Shareholder Choices 1. If you agree with the Changes you do not need to take any action. 2. You may redeem your existing Shares in the Fund free of charge. If you wish to switch or redeem, you should contact either your financial adviser or usual Fidelity Service Centre. Any instruction to switch or redeem should be made in writing before 5.00pm HK time on 29 December 2017. Instructions will normally be dealt at the next calculated net asset value. Different procedures may apply if dealing is made through a financial adviser or other fund distributor #. For further information on these arrangements, please contact your financial adviser or your usual Fidelity Service Centre. Mailing charges associated with the changes will be borne by FIL Fund Management Limited as the Investment Manager of Fidelity Funds. The Changes will be reflected in the next update to the Prospectus and the Product Key Facts Statement ( KFS ) of the Fund. The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. I would like to thank you for your investment and I look forward to helping you with future requests. If you have any questions related to this proposal or if you would like to request for a copy of the Prospectus, the KFS of the Fund, the Articles of Incorporation, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which is also available at www.fidelity.com.hk*) or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ at +852 2629 2629, or you can write to the Hong Kong Representative at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. Yours faithfully, Nishith Gandhi Director, FIL (Luxembourg) S.A. Corporate Director, Fidelity Funds CL17101101 # Please note that some distributors or other intermediaries may charge additional fees (such as transaction fees) or expenses at their own discretion. For further information on these please contact your financial adviser or your usual contact at the distributor / intermediary whom you transact with. * This website has not been reviewed by the Securities and Futures Commission (SFC) in Hong Kong. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 3

Appendix Share classes and ISIN codes: Fidelity Funds - EURO STOXX 50 Fund A-Euro (LU0069450319) Fidelity Funds - EURO STOXX 50 Fund A-ACC-Euro (LU0261952682) 4

FIL Investment Management (Hong Kong) Limited Level 21, Two Pacific Place, 88 Queensway Admiralty, Hong Kong Tel: (852) 2629 2800 Fax: (852) 2629 6088 Fidelity Funds (the Fund ) Fidelity Funds EURO STOXX 50 TM Fund (the Sub-Fund ) 23 June 2017 Dear Shareholder, The Securities and Futures Commission (the SFC ) requires all SFC-authorised index funds (including the Sub-Fund) to disclose the up-to-date weightings of the top 10 largest constituent securities of the underlying index (being the EURO STOXX 50 TM Index, in the case of the Sub-Fund) in both the Product Key Facts Statement ( KFS ) and the Hong Kong Prospectus ( Prospectus ) within a month of the date of publication. We have become aware that the above disclosure requirements have not been fully addressed in the current Fund Prospectus and KFS previously issued in respect of the Sub-Fund. Investors should note that as at 31 May 2017, the top 10 largest constituent securities of the EURO STOXX 50 TM Index were: Rank Company ICB Super-Sector* Weighting (as % of Index) 1. TOTAL OIL & GAS 4.81 2. SIEMENS INDUSTRIAL GOODS & SERVICES 4.48 3. SANOFI HEALTH CARE 4.30 4. BAYER CHEMICALS 4.05 5. SAP TECHNOLOGY 3.95 6. BANCO SANTANDER BANKS 3.50 7. UNILEVER PERSONAL & HOUSEHOLD GOODS 3.31 8. ALLIANZ INSURANCE 3.24 9. ANHEUSER-BUSCH INBEV FOOD & BEVERAGE 3.19 10. BASF CHEMICALS 3.19 Investors may obtain the latest index information and other important news of the Index at the website of the index provider, www.stoxx.com. This website has not been reviewed by the SFC. We apologise for any inconvenience this issue may have caused, and wish to assure you that neither you nor the Sub-Fund have been adversely affected as a result of this matter, and that the Sub-Fund has always been managed in accordance with its investment objective and policy. Our internal product documentation process has been enhanced to prevent similar incidents in the future. If you have any questions concerning this matter, please contact the Fidelity Investor Hotline^ at +852 2629 2629. Yours faithfully, Mark Talbot Managing Director, Asia Pacific Signed on behalf of FIL Investment Management (Hong Kong) Limited as Hong Kong Representative of Fidelity Funds * This is determined by the Industry Classification Benchmark ( ICB ), which is an industry classification taxonomy used to segregate markets into sectors within the macroeconomy. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and F symbol are trademarks of FIL Limited.

Rationale for and Impact of the Changes The name change aims to better reflect the Fund s existing focus on identifying a small number of opportunities in the Asia Pacific ex Japan region and concentrating the Fund s capital in these. The current use of the word Aggressive in the Fund s name implies a high volatility approach, but the Fund has consistently recorded volatility below that of the Asia Pacific ex Japan market as a whole. It is important to stress that the Change does not affect the manner in which the Fund is managed and that its current risk profile is not expected to change. The Board believes that the Change is in the best interest of the Shareholders. There will be no change to the level of fees that you currently pay. Mailing charges associated with the Change will be borne by FIL Fund Management Limited as the Investment Manager of Fidelity Funds. The Change will be reflected in the next update to the Prospectus and the Product Key Facts Statement ( KFS ) of the Fund. The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. This letter is for information purposes only and you do not need to take any action. I would like to thank you for your investment and I look forward to helping you with future requests. If you have any questions related to this Change or if you would like to request for a copy of the Prospectus, the KFS of the Fund, the Articles of Incorporation, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which is also available at www.fidelity.com.hk*) or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ at +852 2629 2629, or you can write to the Hong Kong Representative at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. Yours faithfully, Marc Wathelet Director, FIL (Luxembourg) S.A. Corporate Director, Fidelity Funds CL17031109 * This website has not been reviewed by the Securities and Futures Commission (SFC) in Hong Kong. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 2

Appendix - List of ISIN Code Class of Shares (old name) Class of Shares (new name effective 10 July 2017) ISIN Code FF - Asian Aggressive Fund A-ACC-Euro FF - Asia Pacific Opportunities Fund A- ACC-Euro LU0345361124 3

Fidelity Funds Société d Investissement à Capital Variable 2a, rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 Tél: +352 250 404 (1) Fax: +352 26 38 39 38 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Important Changes to Fidelity Funds Fidelity Funds - Euro Balanced Fund change of investment objective Key Facts We are changing the investment objective of Fidelity Funds - Euro Balanced Fund. The risk factors applicable to the Fund will remain unchanged. The Change aims to more appropriately reflect the allocation between equities and bonds in the Fund i.e. to have a higher weighting in equities and a lower weighting in bonds. The fund may also invest in UCITs and UCIs. There will be no change to the level of fees that you currently pay. Shareholder Choices If you agree with the Change proposed in this letter, you do not need to take any action. If you do not agree with the Change this letter sets out the options available to you. Dear Shareholder, 26 May 2017 As part of the ongoing process whereby Fidelity regularly reviews its range of funds to ensure that the investment objectives of the funds appropriately reflect the investment intention of the fund manager, we are writing to notify you of the decision taken by the board of directors of Fidelity Funds (the Board ) to change the investment objective of Fidelity Funds - Euro Balanced Fund (the Fund ). The Change will take effect from 10 July 2017 or such later date as may be decided by the Board (the Effective Date ). Our records show that you are a shareholder in the Fund (the Shareholders or you ). For more information on the impacted classes of Shares and the corresponding ISIN Codes, please refer to the Appendix enclosed herein. Any terms not defined herein shall have the same meaning as in the Fidelity Prospectus for Hong Kong Investors (the Prospectus ). On the Effective Date, the investment objective of the Fund will be changed as follows (the Change ): From: Fund Name Investment Objective Notes Fidelity Funds - Euro Balanced Fund Invests primarily in equities and bonds denominated in Euro. The fund will aim to invest at least 30% and a maximum of 60% of the total assets in equities. The remainder (normally a minimum 40%, maximum 70%) will be invested in bonds. Reference Ccy: Euro 1

To: Fund Name Investment Objective Notes Fidelity Funds Euro Balanced Fund Invests primarily in equities and bonds denominated in Euro. The fund will aim to invest a minimum of 45% and a maximum of 70% of the net assets in assets with exposure to equities and a minimum of 30% and a maximum of 55% of the net assets in assets with exposure to bonds. The fund may also invest in UCITS and UCIs. Reference Ccy: Euro Rationale for and Impact of the Changes The Change is designed to more appropriately reflect the current intended allocation between equities and bonds in the Fund, i.e. to have a higher weighting in equities and a lower weighting in bonds. The Fund may also invest in UCITs and UCIs and a sentence has been added to the Fund s investment objective to this effect. It is important to stress that Risk Factors applicable to the Fund will not change as a result of the Change. The Board believes that the Change is in the best interest of the Shareholders. There will be no change to the level of fees that you currently pay. Mailing charges associated with the Change will be borne by FIL Fund Management Limited as the Investment Manager of Fidelity Funds. Shareholder Choices 1. If you agree with this Change you do not need to take any action. 2. If you are not in agreement with this Change, we are offering you a free switch of your existing shares in the Fund into any other fund within Fidelity Funds available to you, or, 3. You may redeem your existing shares in the Fund free of charge. If you wish to switch or redeem your shares in the Fund you should contact either your Financial Adviser or usual Fidelity Service Centre. Any instruction to switch or redeem should be made in writing before 5.00 pm HK time on 7 July 2017. Different procedures may apply if dealing is made through a financial adviser or other fund distributor #. For further information on these arrangements, please contact your usual contact. The Change will be reflected in the next update to the Prospectus and the Product Key Facts Statement ( KFS ) of the Fund. The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. # Please note that some distributors or other intermediaries may charge additional fees (such as switching or transaction fees) or expenses at their own discretion. For further information on these please contact your financial adviser or your usual contact at the distributor/intermediary whom you transact with. 2

I would like to thank you for your investment and I look forward to helping you with future requests. If you have any questions related to this Change or if you would like to request for a copy of the Prospectus, the KFS of the Fund, the Articles of Incorporation, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which is also available at www.fidelity.com.hk*) or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ at +852 2629 2629, or you can write to the Hong Kong Representative at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. Yours faithfully, Marc Wathelet Director, FIL (Luxembourg) S.A. Corporate Director, Fidelity Funds CL17031104 * This website has not been reviewed by the Securities and Futures Commission (SFC) in Hong Kong. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 3

Appendix - List of ISIN Codes Classes of Shares FF - Euro Balanced Fund A-ACC-Euro FF - Euro Balanced Fund A-ACC-USD (hedged) FF - Euro Balanced Fund A-Euro FF - Euro Balanced Fund A-MCDIST(G)-Euro ISIN Codes LU0261950553 LU1046421449 LU0052588471 LU1509826423 4

Fidelity Funds Société d Investissement à Capital Variable 2a, rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 Tél: +352 250 404 (1) Fax: +352 26 38 39 38 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Important Changes to Fidelity Funds Fidelity Funds - Asian Smaller Companies Fund change of investment objective Key Facts We are changing some of the wording associated with the investment objective of Fidelity Funds - Asian Smaller Companies Fund. The risk profile of the Fund and the risk factors applicable to the Fund will remain unchanged. The Change aims to cater for market development in terms of the size of smaller companies in Asia. There will be no change to the level of fees that you currently pay. Shareholder Choices If you agree with the Change proposed in this letter, you do not need to take any action. If you do not agree with the Change this letter sets out the options available to you. Dear Shareholder, 26 May 2017 As part of the ongoing process whereby Fidelity regularly reviews its range of funds to ensure that the investment objectives of the funds appropriately reflect the investment intention of the fund manager, I am writing to notify you of the decision taken by the board of directors of Fidelity Funds (the Board ) to change the investment objective of Fidelity Funds - Asian Smaller Companies Fund (the Fund ). The Change will take effect from 10 July 2017 or such later date as may be decided by the Board (the Effective Date ). Our records show that you are a shareholder in the Fund (the Shareholders or you ). For more information on the impacted classes of Shares and the corresponding ISIN Codes, please refer to the Appendix enclosed herein. Any terms not defined herein shall have the same meaning as in the Fidelity Prospectus for Hong Kong Investors (the Prospectus ). On the Effective Date, the investment objective of the Fund will be changed as follows (the Change ): From: Fund Name Investment Objective Notes Fidelity Funds - Asian Smaller Companies Fund The fund aims to achieve long-term capital growth by investing primarily in a diversified portfolio of smaller companies that have their head office or exercise a predominant part of their activities in Asia Pacific (excluding Japan). Smaller companies are generally defined as having a market capitalisation range of less than USD 2,500 million in terms of the company s full market capitalisation. The fund may have an exposure to companies with market capitalisations falling outside this range. Reference Ccy: USD 1

To: Fund Name Investment Objective Notes Fidelity Funds - Asian Smaller Companies Fund The fund aims to achieve long-term capital growth by investing primarily in a diversified portfolio of smaller companies that have their head office or exercise a predominant part of their activities in Asia Pacific (excluding Japan). Portfolio Information: Smaller companies are generally defined as having a market capitalisation range of less than USD 5,000 million in terms of the company s full market capitalisation. The fund may have an exposure to companies with market capitalisations falling outside this range. Reference Ccy: USD Rationale for and Impact of the Changes The Change is designed to cater for market development in terms of the size of smaller companies in Asia. It is important to stress that the current risk profile of the Fund is not expected to change as a result of the Change. The Board believes that the Change is in the best interest of the Shareholders. There will be no change to the level of fees that you currently pay. Mailing charges associated with the Change will be borne by FIL Fund Management Limited as the Investment Manager of Fidelity Funds. Shareholder Choices 1. If you agree with this Change you do not need to take any action. 2. If you are not in agreement with this Change, we are offering you a free switch of your existing shares in the Fund into any other fund within Fidelity Funds available to you, or, 3. You may redeem your existing shares in the Fund free of charge. If you wish to switch or redeem your shares in the Fund you should contact either your Financial Adviser or usual Fidelity Service Centre. Any instruction to switch or redeem should be made in writing before 5.00 pm HK time on 7 July 2017. Instructions will normally be dealt at the next calculated net asset value. Different procedures may apply if dealing is made through a financial adviser or other fund distributor #. For further information on these arrangements, please contact your usual Financial Adviser or usual Fidelity Service Centre. The Change will be reflected in the next update to the Prospectus and the Product Key Facts Statement ( KFS ) of the Fund. # Please note that some distributors or other intermediaries may charge additional fees (such as switching or transaction fees) or expenses at their own discretion. For further information on these please contact your financial adviser or your usual contact at the distributor/intermediary whom you transact with. 2

The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. I would like to thank you for your investment and I look forward to helping you with future requests. If you have any questions related to this Change or if you would like to request for a copy of the Prospectus, the KFS of the Fund, the Articles of Incorporation, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which is also available at www.fidelity.com.hk*) or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ at +852 2629 2629, or you can write to the Hong Kong Representative at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. Yours faithfully, Marc Wathelet Director, FIL (Luxembourg) S.A. Corporate Director, Fidelity Funds CL17031110 * This website has not been reviewed by the Securities and Futures Commission (SFC) in Hong Kong. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 3

Appendix - List of ISIN Codes Classes of Shares FF - Asian Smaller Companies Fund A-ACC-Euro FF - Asian Smaller Companies Fund A-ACC-USD FF - Asian Smaller Companies Fund A-USD FF - Asian Smaller Companies Fund Y-ACC-USD ISIN Codes LU0702159772 LU0702159699 LU0702159343 LU0702159939 4

Fidelity Funds Société d Investissement à Capital Variable 2a, rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 Tél: +352 250 404 (1) Fax: +352 26 38 39 38 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Changes to Fidelity Funds Fidelity Funds - International Bond Fund name change and investment objective adaptation Key Facts We are changing the name of Fidelity Funds - International Bond Fund to Fidelity Funds Global Bond Fund. As a result of this change the investment objective will also be amended. These changes do not affect the manner in which the Fund is managed. The risk profile of the Fund and the risk factors applicable to the Fund will remain unchanged. There will be no change to the level of fees that you currently pay. This letter is for information only and you do not need to take any action as these changes will automatically enter into effect on 10 July 2017. Dear Shareholder, 26 May 2017 As part of the ongoing process whereby Fidelity regularly reviews its range of funds to ensure that they are clearly labelled, I am writing to notify you of the decision taken by the board of directors of Fidelity Funds (the Board ) to change the name of Fidelity Funds - International Bond Fund (the Fund ) to Fidelity Funds - Global Bond Fund. As a consequence of this, we are also slightly adapting the investment objective to replace the words international markets by global markets. The Changes will take effect on 10 July 2017 or such later date as may be decided by the Board (the Effective Date ). Our records show that you are a shareholder in the Fund (the Shareholders or you ). For more information on the impacted classes of Shares and the corresponding ISIN Codes, please refer to the Appendix enclosed herein. Any terms not defined herein shall have the same meaning as in the Fidelity Prospectus for Hong Kong Investors (the Prospectus ). On the Effective Date the name and the investment objective of the Fund will be amended as follows (the Changes ): From: Fund Name Fidelity Funds - International Bond Fund Investment Objective Invests in international markets to maximise performance measured in US Dollars. The fund may invest its net assets directly in onshore China fixed income securities listed or traded on any Eligible Market in China. 1

To: Fund Name Fidelity Funds - Global Bond Fund Investment Objective Invests in global markets to maximise performance measured in US Dollars. The fund may invest its net assets directly in onshore China fixed income securities listed or traded on any Eligible Market in China. The Portfolio Information, the Notes section and the reference currency for the Fund remain unchanged - please refer to the Prospectus. Rationale for and Impact of the Changes The Changes are designed to align the Fund name and investment objective with the naming convention of other global fixed income funds in the Fidelity Funds range. It is important to stress that the Changes do not affect the manner in which the Fund is managed and that its current risk profile is not expected to change. The Board believes that the Changes are in the best interest of the Shareholders. There will be no change to the level of fees that you currently pay. Mailing charges associated with the Changes will be borne by FIL Fund Management Limited as the Investment Manager of Fidelity Funds. The Changes will be reflected in the next update to the Prospectus and the Product Key Facts Statement ( KFS ) of the Fund. The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. This letter is for information purposes only and you do not need to take any action. I would like to thank you for your investment and I look forward to helping you with future requests. If you have any questions related to these Changes or if you would like to request for a copy of the Prospectus, the KFS of the Fund, the Articles of Incorporation, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which is also available at www.fidelity.com.hk*) or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ at +852 2629 2629, or you can write to the Hong Kong Representative at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. Yours faithfully, Marc Wathelet Director, FIL (Luxembourg) S.A. Corporate Director, Fidelity Funds CL17031107 * This website has not been reviewed by the Securities and Futures Commission (SFC) in Hong Kong. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 2

Appendix - List of ISIN Codes Classes of Shares (old name) Classes of Shares (new name effective 10 July 2017) ISIN Codes FF - International Bond Fund A-ACC-USD FF - Global Bond Fund A-ACC-USD LU0261946288 FF - International Bond Fund A-USD FF - Global Bond Fund A-USD LU0048582984 3

Fidelity Funds Société d Investissement à Capital Variable 2a, rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 Tél: +352 250 404 (1) Fax: +352 26 38 39 38 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Important Changes to Fidelity Funds Fidelity Funds - Italy Fund Change of Investment Objective Key Facts We are changing the investment objective of Fidelity Funds - Italy Fund. The risk profile of the Fund and the risk factors applicable to the Fund will remain unchanged. The Changes aim to more appropriately disclose the Italian equity sector weightings of the Fund although they will have no impact on the way the Fund is currently being managed. The Changes also aim to allow the Fund to become an eligible investment for the piani individuali di risparmio a lungo termine (PIR) under the Italian Law No 232 of 11 December 2016. Shareholders resident in countries other than Italy will be unaffected by the change in tax treatment for Italian resident shareholders. There will be no change to the level of fees that you currently pay. This letter is for information only and you do not need to take any action. Dear Shareholder, 7 April 2017 As part of the ongoing process whereby Fidelity regularly reviews its range of funds to ensure that the investment objectives of the funds appropriately reflect the investment intention of the fund manager, I am writing to notify you of the decision taken by the board of directors of Fidelity Funds (the Board ) to change the investment objective of Fidelity Funds Italy Fund (the Fund ). The Changes will take effect from 17 April 2017 or such later date as may be decided by the Board (the Effective Date ). Our records show that you are a shareholder in the Fund (the Shareholders or you ). For more information on the impacted class of Shares and the corresponding ISIN Code, please refer to the Appendix enclosed herein. On the Effective Date, the investment objective of the Fund and some of the wording associated with it will be changed as follows (the Changes ): From: Fund Name Investment Objective Notes Fidelity Funds Italy Fund Invests principally in Italian equity securities. Reference Ccy: Euro This fund is eligible for the French PEA (Plan d Epargne en Actions) tax wrapper. 1

To: Fund Name Investment Objective Notes Fidelity Funds Italy Fund The fund aims to provide long-term capital growth by investing principally in Italian equity securities. Portfolio Information: The fund shall invest at least 70% of its assets in shares issued by companies not engaged in real estate business, which are resident in Italy or in another EU or EEA Member State with a permanent establishment in Italy. At least 30% of these shares, which corresponds to 21% of the fund s assets, shall be issued by companies which are not listed in the FTSE MIB index or in any equivalent indices. The fund cannot invest more than 10% of its assets in financial instruments issued by, or entered into with the same company, or companies belonging to the same group, or in cash deposits. Reference Ccy: Euro This fund is eligible for the French PEA (Plan d Epargne en Actions) tax wrapper. The fund s shares are eligible investments for a Piano Individuale di Risparmio a lungo termine (PIR) under the Italian Law No 232 of 11 December 2016. The fund cannot invest in financial instruments issued by companies which are not resident in countries that allow an adequate exchange of information with Italy. Rationale for and Impact of the Changes The Changes are designed to more appropriately disclose the Italian equity sector weightings of the Fund although they will not modify the style nor the philosophy under which the Fund is managed. The Changes will allow the Fund to become an eligible investment for piani individuali di risparmio a lungo termine (PIR) under the Italian Law No 232 of 11 December 2016. The Fund s current portfolio already falls within PIR parameters and will, therefore, not need to be rebalanced. PIR eligibility will have a favourable impact on the tax treatment of investments in the Fund held by individual shareholders resident in Italy under certain circumstances. Shareholders resident in countries other than Italy will be unaffected by the change in tax treatment for Italian resident shareholders. It is important to stress that the current risk profile of the Fund is not expected to change as a result of the Changes. The Board believes that the Changes are in the best interest of the Shareholders. There will be no change to the level of fees that you currently pay. Mailing charges associated with the Changes will be borne by FIL Fund Management Limited as the Investment Manager of Fidelity Funds. The Changes will be reflected in the next update to the Fidelity Prospectus for Hong Kong Investors (the Prospectus ) and the Product Key Facts Statement ( KFS ) of the Fund. The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. This letter is for information only and you do not need to take any action. 2

Any terms not defined herein shall have the same meaning as in the Prospectus. I would like to thank you for your investment and I look forward to helping you with future requests. If you have any questions related to these Changes or if you would like to request for a copy of the Prospectus, the KFS of the Fund, the Articles of Incorporation, the latest audited annual report and accounts and unaudited semi-annual report and accounts of Fidelity Funds (which is also available at www.fidelity.com.hk*) or other material agreements relating to Fidelity Funds, please contact your usual Financial Adviser or the Fidelity Investor Hotline^ at +852 2629 2629, or you can write to the Hong Kong Representative at Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong. Yours faithfully, Marc Wathelet Director, FIL (Luxembourg) S.A. Corporate Director, Fidelity Funds CL17031101 * This website has not been reviewed by the Securities and Futures Commission (SFC) in Hong Kong. ^ International Toll-free Number +800 2323 1122, available to calls from Australia, Canada, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and USA. Service may not be available for certain mobile carriers. The + sign represents the International Access Prefix. China Toll-free Number: 4001 200632. The Fidelity Investor Hotline is available from 9am to 6pm, Monday to Friday (except Hong Kong public holidays). Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited. 3

Appendix - List of ISIN Codes Classes of Shares FF - Italy Fund A-Euro ISIN Codes LU0048584766 4

Fidelity Funds Société d Investissement à Capital Variable 2a, rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg R.C.S. Luxembourg B34036 Tél: +352 250 404 (1) Fax: +352 26 38 39 38 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Important changes to information in the Fidelity Funds Prospectus Key Facts We intend to enhance the level of information provided in the Fidelity Funds Hong Kong Prospectus (the Prospectus ) to make it clearer where and how derivatives are used. This requires the following changes to the investment policies and objectives of the funds that will take effect from 20 February 2017: Amendments to the definition of primarily or principally to clarify that investments may also be achieved indirectly through derivatives or other instruments; Enhanced description of the types of derivatives and the purposes for which they are used; and Clarification regarding the use of derivatives for investment purposes on a nonextensive basis. The above changes are not expected to change the current extent or usage of derivatives by, or change the existing risk profile of the funds. Dear Shareholder, 30 November 2016 I am writing to notify you of a decision taken by the Board of Directors of Fidelity Funds (the Directors ) to amend certain disclosures in the Prospectus with respect to the use of financial derivative instruments. This decision has been taken to help investors more clearly understand the use of various investment instruments and techniques within the funds of Fidelity Funds so that they, in turn, are better informed about the potential suitability of the funds to their needs. The investment objectives of all funds of Fidelity Funds using the definition primarily or principally will be amended to clarify the use of derivative instruments. Where the objectives state that portfolios should be primarily or principally invested in specific asset classes, it will be made clear that this may be achieved through physical assets, derivatives or other such investment instruments. Please refer to Appendix 2 for further details on the amendments. The following enhancements will also apply to funds within all categories in Fidelity Funds except for the Cash Funds and the Systematic Multi Asset Risk Targeted Funds. The improvements will be implemented by amending the general investment policies of the relevant fund ranges as follows: 1) Introducing an enhanced description of the types of derivative instruments used and the purpose for which they are used. 2) Where the use of derivatives is currently permitted for the generation of additional capital or income, it will be clarified that this also includes the use of derivatives for investment purposes on a non-extensive basis. This means that derivatives may be used to gain or increase exposure to an underlying asset (as distinct from hedging or risk reduction) but in such a way that it does not increase the level of risk that a fund can take in line with its investment objective. 1