FGB Overview

Reorganization Announcement: First Trust Advisors L.P. has completed the reorganization of the First Trust Specialty Finance and Financial Opportunities Fund (FGB) into the FT Confluence BDC & Specialty Finance Income ETF (FBDC), following shareholder approval on May 5, 2025.

Investment Objectives: FBDC aims to provide high current income and attractive total return by investing in Business Development Companies (BDCs) and specialty finance companies, with management provided by FTA and Confluence Investment Management LLC.

Reorganization Announcement: First Trust Advisors L.P. announced the reorganization of First Trust Specialty Finance and Financial Opportunities Fund (FGB) into FT Confluence BDC & Specialty Finance Income ETF (FBDC), effective June 30, 2025, following shareholder approval on May 5, 2025.

Investment Objectives: Both FGB and FBDC aim to provide high current income and attractive total returns by investing in specialty finance companies, with FBDC being an actively managed ETF that will assume FGB's assets and liabilities upon completion of the transaction.

Quarterly Distribution Announcement: First Trust Specialty Finance and Financial Opportunities Fund (FGB) has declared a quarterly distribution of $0.10 per share, payable on May 30, 2025, to shareholders of record as of May 22, 2025, with an ex-dividend date also set for May 22, 2025.

Investment Objectives and Risks: The Fund aims to provide high current income and attractive total return by investing primarily in specialty finance and financial companies, but it carries risks such as market fluctuations, interest rate changes, and sector concentration that could affect investment performance.

Shareholder Approval: Shareholders of First Trust Specialty Finance and Financial Opportunities Fund (FGB) approved the reorganization into FT Confluence BDC & Specialty Finance Income ETF (FBDC), expected to close by the end of 2025, subject to customary conditions.

Investment Management Details: First Trust Advisors L.P. manages approximately $258 billion in assets, with Confluence Investment Management serving as the sub-advisor for both FGB and FBDC, holding $12.7 billion in assets under management and advisement.

Proxy Materials Mailed: First Trust Advisors L.P. has sent proxy materials to shareholders regarding the proposed reorganization of the First Trust Specialty Finance and Financial Opportunities Fund into the FT Confluence BDC & Specialty Finance Income ETF, with a special meeting scheduled for April 21, 2025.

Voting Information: Shareholders are encouraged to vote their shares using the methods outlined in the proxy materials, which include important information about the reorganization; assistance is available through EQ Fund Solutions, LLC.

Quarterly Distribution Announcement: First Trust Specialty Finance and Financial Opportunities Fund (FGB) has declared a quarterly distribution of $0.10 per share, payable on February 28, 2025, to shareholders of record as of February 24, 2025.

Investment Strategy and Risks: The Fund aims to provide high current income by investing at least 80% of its assets in specialty finance securities, but it carries inherent risks including market fluctuations, interest rate changes, and sector concentration.