First Trust MLP and Energy Income Fund, First Trust New Opportunities MLP & Energy Fund and First Trust Energy Income and Growth Fund Announce Changes to Non-Fundamental Investment Policies

First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL) and First Trust Energy Income and Growth Fund (NYSE MKT: FEN) (the “Funds”) announced today that their Board of Trustees has approved changes to the Funds’ non-fundamental investment policies as described herein.

Each of FEI and FPL will revise its investment policies to eliminate the requirement that it invest at least 65% of its managed assets in equity securities issued by energy sector master limited partnerships (“MLPs”) and energy sector and energy utility MLP-related entities. FEN will revise its investment policies to (i) eliminate the requirement that it invest at least 65% of its managed assets in equity securities of energy sector MLPs and energy sector MLP-related entities, and (ii) remove the restriction limiting the Fund’s investments in equity securities issued by energy companies to 35% of its managed assets. The remaining investment policies of the Funds will remain unchanged, including, for FEI and FPL, the policy requiring the Funds to invest at least 85% of their respective managed assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utilities companies that the Funds’ sub-advisor believes offer opportunities for growth and income, and, for FEN, the policy requiring it to invest at least 85% of its managed assets in securities of energy companies and energy sector MLPs and energy sector MLP-related entities. The Funds anticipate that the changes to their investment policies will be implemented 60 days after notice has been mailed to shareholders.

FEI is a non-diversified, closed-end management investment company which commenced investment operations in November 2012. FEI’s investment objective is to seek a high level of total return with an emphasis on current distributions paid to common shareholders.

FPL is a non-diversified, closed-end management investment company which commenced investment operations in March 2014. FPL’s investment objective is to seek a high level of total return with an emphasis on current distributions paid to common shareholders.

FEN is a non-diversified, closed-end management investment company which commenced investment operations in June 2004. FEN’s investment objective is to seek a high level of after-tax total return with an emphasis on current distributions paid to shareholders.

First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $117.3 billion as of November 30, 2017, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Energy Income Partners, LLC (“EIP”) serves as the Fund’s investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of November 30, 2017, EIP managed or supervised approximately $6.0 billion in client assets.

The Funds’ daily closing New York Stock Exchange prices and net asset values per share as well as other information, including information relating to the Funds’ investment objectives and policies, risk considerations and expenses, can be found at www.ftportfolios.com or by calling 1-800-988-5891.

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