First Trust Advisors L.P. (“FTA”) announced today that the Board of Trustees of the First Trust Series Fund, of which each of the newly created Acquiring Funds listed below is a series, approved the proposed reorganization of each Acquired Fund into the respective Acquiring Fund (the “Reorganizations”). The Reorganizations have also been approved by the Board of Trustees of the World Funds Trust, of which each of the Acquired Funds listed below is a series, after determining that each Reorganization is in the best interest of the applicable Acquired Fund.

Each Reorganization is subject to the approval of the shareholders of the respective Acquired Fund and the satisfaction of customary closing conditions. Each Reorganization is a separate transaction and no Reorganization is contingent upon any other Reorganization.

Following the Reorganizations, shareholders of each Acquired Fund will receive shares of the respective Acquiring Fund with an aggregate net asset value equal to the aggregate net asset value of the Acquired Fund shares held by them.

Additional information regarding the Reorganizations, including the record dates and meeting dates at which shareholders of each Acquired Fund will be asked to approve the respective Reorganization, will be presented in a proxy statement/prospectus to be sent to each Acquired Fund’s shareholders (each, a “Proxy Statement/Prospectus”). As noted above, shareholders of each Acquired Fund will be asked to vote on the Reorganization of their Acquired Fund into the respective Acquiring Fund.

Registration Statements containing each Proxy Statement/Prospectus have yet to be filed with the U.S. Securities and Exchange Commission (the “SEC”). After the Registration Statements are filed with the SEC, each may be amended or withdrawn. A Proxy Statement/Prospectus will not be distributed to shareholders of an Acquired Fund unless and until a Registration Statement containing the Proxy Statement/Prospectus is declared effective by the SEC.

Important Information

FTA is a federally registered investment advisor and serves as the investment advisor of each Acquiring Fund. 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 $299 billion as of September 30, 2025 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.

Vest Financial LLC (“Vest”) is a federally registered investment advisor and serves as the investment advisor of each Acquired Fund. Vest, a wholly owned subsidiary of Vest Group Inc., seeks to deliver the benefits of derivatives with precise, outcome-driven solutions—bringing more certainty and clarity to portfolios. Its Target Outcome Investments^® are designed to simplify derivative strategies into trusted, outcome-focused products, accessible through a broad range of investment solutions. As the leader in Target Buffer ETFs^® and creator of over 300 innovative products, Vest oversees more than $54 billion in assets (as of September 30, 2025, $46.6B assets under management, $8.1B non-discretionary assets under supervision) with a consistent record of target delivery. Combining derivatives expertise, practical execution, and trusted relationships, Vest is committed to making derivatives work for investors.

First Trust Capital Partners, LLC, an affiliate of FTA, owns a majority equity ownership interest in Vest’s parent company.

The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. However, the Funds, FTA, Vest and certain of their respective directors/trustees, officers and affiliates may be deemed under the rules of the SEC to be participants in the solicitation of proxies from shareholders in connection with the proposed Reorganizations discussed herein. Information about the trustees and officers of the Acquired Funds may be found in their respective annual reports previously filed with the SEC.

In connection with the proposed Reorganizations, the Acquiring Funds plan to file with the SEC one or more Proxy Statement/Prospectuses. When the Proxy Statement/Prospectuses become available, shareholders are advised to read these materials because they will contain important information about the proposed Reorganizations and related matters. The Proxy Statement/Prospectuses and proxy statements, when available, will be available for free at the SEC’s website www.sec.gov.

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