First Trust Vest US Equity Max Buffer UCITS ETF - June Class A ACC

The Fund seeks to provide investors with returns (before fees, expenses and taxes) that match the price returns of theS&P 500 Index (the “Index”), up to a predetermined upside cap, while seeking to provide the maximum available buffer (before fees and expenses), against Index losses (the “Buffer”), over a specified approximately one-year time period (the “Target Outcome Period”). Investment Policy:The Fund intends to pursue an actively managed investment strategy and will seek to achieve its investment objective by investing substantially all of its assets in FLexible EXchange Options (“FLEX Options”) that reference the performance of the Index. The Fund will primarily invest in financial derivative instruments for investment purposes. The Fund seeks to provide the maximum available buffer (before fees and expenses) on Index losses at the end of each Target Outcome Period while setting a pre‑determined Upside Cap of at least 7%. The Buffer and Upside Cap are established at the beginning of each Target Outcome Period and are dependent on prevailing market conditions. If the Buffer for a Target Outcome Period is less than 100% and the Index has decreased in value by more than the Buffer over the Target Outcome Period, the Fund will experience subsequent losses on a one-to-one basis (before fees and expenses).The Buffer and the Upside Cap will both be reduced by the Annual Management Fee, as well as any brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s Annual Management Fee. The returns of the Fund are subject to a cap for the Target Outcome Period. The Fund’s Buffer and Upside Cap is available on the Fund’s website. Unlike other investment products, the potential returns an investor can receive from the Fund are subject to the pre-determined Upside Cap that represents the maximum percentage return an investor can achieve from an investment in the Fund for an entire Target Outcome Period (before fees and expenses). In the event the Index experiences gains over a Target Outcome Period, the Fund seeks to provide investment returns that match the percentage increase of the Index, but any percentage gains over the amount of the Upside Cap will not be experienced by the Fund or its investors. Therefore, regardless of the performance of the Index, the Upside Cap for the Fund is the maximum percentage return an investor can achieve from an investment in the Fund for that Target Outcome Period. The Target Outcome Period for the Fund will begin and end in June of each year. Subsequent Target Outcome Periods will begin on the day the prior Target Outcome Period ends and will end on the approximate one-year anniversary of that new Target Outcome Period. On the first day of each new Target Outcome Period, the Fund resets by investing in a new set of FLEX Options that will provide a new buffer and cap for the new Target Outcome Period. This means that a Fund’s Buffer and Upside Cap are likely to change for each Target Outcome Period based upon prevailing market conditions at the beginning of each Target Outcome Period. The current Buffer and Upside Cap will be available on the Fund’s website. The Upside Cap and Buffer, and the Fund’s position relative to each, should be considered before investing in the Fund. The Fund will be continuously offered for subscription and will not terminate at the initial or any subsequent Target Outcome Period. The Fund seeks to achieve specified outcomes but there is no guarantee that the outcomes for a Target Outcome Period will be achieved. You may lose some or all of your money by investing in the Fund.