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First Trust Announces Shareholder Approval of First Trust Heitman Global Prime Real Estate ETF's Reorganization into First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund
[August 22, 2019]

First Trust Announces Shareholder Approval of First Trust Heitman Global Prime Real Estate ETF's Reorganization into First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund

First Trust Advisors L.P. ("FTA") announced today that shareholders of First Trust Heitman Global Prime Real Estate ETF (NYSE Arca (News - Alert): PRME), an actively managed exchange-traded fund ("ETF"), managed by FTA, have approved the fund's reorganization into First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund (NYSE Arca: FFR), an index based ETF managed by FTA, at a Special Meeting of Shareholders on August 22, 2019. As previously announced, the reorganization was approved by the Board of Trustees of each of PRME and FFR on March 11, 2019. Subject to the satisfaction of certain customary closing conditions, the reorganization of PRME into FFR is expected to close as soon as possible. No assurance can be given as to the exact timing of the closing of the transaction.

Upon the completion of the transaction, which is expected to be tax-free, the assets of PRME will be transferred to, and the liabilities of PRME will be assumed by, FFR. The shareholders of PRME will receive shares of FFR with an aggregate net asset value equal to the aggregate net asset value of the PRME shares held by them.

FFR is an index based ETF that seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the FTSE EPRA/NAREIT Developed Index. FFR pursues this investment objective by investing at least 90% of its net assets in the common stocks, and depositary receipts that comprise the index. The index is designed to mesure the stock performance of companies engaged in specific real estate activities, including the ownership, trading and development of income-producing real estate, in the North American, European, and Asian real estate markets.

FTA is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $134 billion as of July 31, 2019 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

Additional Information / Forward-Looking Statements

This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of PRME or FFR. Certain statements made in this news release that are not historical facts are referred to as "forward-looking statements" under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward- looking statements due to numerous factors. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of FTA and the funds managed by FTA and its present expectations or projections. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. FTA, PRME and FFR undertake no responsibility to update publicly or revise any forward-looking statements.

An investor should carefully consider the investment objectives, risks, charges and expenses of PRME or FFR, as applicable, before investing. The prospectuses for PRME and FFR contain this and other important information and are available free of charge by calling toll-free at 1-800-621-1675 or writing PRME or FFR at 120 East Liberty Drive, Suite 400, Wheaton, IL 60187. The prospectus should be read carefully before investing.

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