First Trust Energy Infrastructure Fund Issues a Notice Concerning December 2022 Distribution

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WHEATON, Ill., December 15, 2022–(BUSINESS WIRE)–The Board of Trustees of First Trust Energy Infrastructure Fund (the “Fund”) (NYSE: FIF), CUSIP 33738C103, previously approved a managed distribution policy for the Fund (the “Managed Distribution Plan”) in reliance on exemptive relief received from the Securities and Exchange Commission which permits the Fund to make periodic distributions of long-term capital gains as frequently as monthly each tax year.

The Fund declared a distribution payable to shareholders as of December 2, 2022. It will be ex-dividend on December 1, 2022. This Notice is meant to provide you information about the sources of your Fund’s distributions. The distribution amount or the terms of the Managed Distribution Plan should not be used to draw conclusions about the Fund’s investment performance.

The following tables list the estimated distributions and cumulative distributions that the Fund has received from the following sources: net investments (“NII”); net realized short term capital gains (“STCG”); net realized long-term financial gains (“LTCG”) and return on capital (“ROC”). These estimates were based upon information up to November 30, 2022. They are based on generally accepted accounting principles (“GAAP”), and include the prior fiscal-year-end undistributed net investments income. The distribution sources and amounts are shown per common share.

5 Yr. Avg.

Annualized Current

Annual Total

Fond

Fond

Fiscal

Total Current

Current Distribution ($)

Current Distribution (%)

Dist. Dist.

Return

Ticker

Cusip

Year End

Distribution

NII

STCG

LTCG

ROC (2)

NII

STCG

LTCG

ROC(2)

% of NAV(3)

NAV(4)

FIF (5)

33738C103

11/30/2023

$0.06400

$0.06400

100.00%

4.28%

6.56%

Total

Cumulative

Cumulative Fiscal

Fond

Fond

Fiscal

Cumulative Fiscal YTD

Cumulative Distributions Fiscal Year-to-Date ($)

Cumulative Distributions Fiscal Year-to-Date (%)

Fiscal YTD Distributions

YTD Total Return

Ticker

Cusip

Year End

Distributions(1)

NII

STCG

LTCG

ROC (2)

NII

STCG

LTCG

ROC(2)

A % of NAV(3)

NAV(4)

FIF (5)

33738C103

11/30/2023

$0.06400

$0.06400

100.00%

0.36%

29.10%

(1) This includes the December 15, 2022, most recent monthly distribution.

(2) The Fund estimates it has distributed more than its income, net realized capital gains, and therefore a portion of your distribution could be considered a return capital. For example, a return of capital could occur when you receive some or all the money you have invested in the Fund. A return of capital distribution is not necessarily indicative of the Fund’s performance in investing. It should not, however, be confused with “yield” and “income.”

(3) Based upon Net Asset Value (“NAV”) at November 30, 2022

(4) Total Returns through November 30, 2022

(5) The Fund expects that a portion of the distributions it makes to common shareholders may be a tax-deferred capital return. This is due to the tax treatment for cash distributions made to Master Limited Partnerships in which the Fund invests.

This Notice does not contain actual distribution amounts or sources. They are provided only for tax reporting purposes. The Fund’s remaining fiscal year investment experience will affect the actual amounts and sources of distributions. Tax regulations may change the amount and source of these amounts. You will receive a Form 1099 DIV from the Fund detailing how you can report distributions for federal income tax purposes. This Notice should not be used in place of your Form 1099–DIV.

First Trust Advisors L.P. (“FTA”), a federally registered financial advisor, serves as the Fund’s investment advisor. FTA and First Trust Portfolios L.P. (“FTP”) are private companies that offer a range of investment services. FTA manages or supervises approximately $199 million in collective assets through unit investment trusts and closed-end, mutual, exchange-traded, and closed-end funds. FTA is the supervisor for the First Trust unit investing trusts. FTP, however, is the sponsor. FTP also distributes mutual fund shares as well as exchange-traded funds creation units. FTA is based in Wheaton Illinois.

Energy Income Partners, LLC (“EIP”) acts as the Fund’s investment subadvisor. EIP provides advisory services to several investment companies and partnerships in order to invest in MLPs and other infrastructure securities. EIP is one the earliest investment advisors that specializes in this field. EIP had approximately $5.5 billion of client assets under its supervision as of November 30, 2022.

Principal Risk Factors: All investments come with risks. Below are some risks that could affect the Fund. These include the possibility of losing all or part of your investment. The annual shareholder reports of the Fund detail the principal risks associated with investing in the Fund. The importance of any one of the risk factors is not indicated by their order. The Fund files reports, proxy statements, and other information available for review.

Past performance is not an indicator of future performance. The Fund’s investment return and the market value will fluctuate. The value of shares may rise or fall depending on their selling price. The Fund’s investment goals cannot be guaranteed. The Fund might not be suitable for all investors.

The Fund is not diversified and closed-end managed investment company. This means that there are risks.

Market fluctuations can affect both shares and securities held by a fund. These include changes in interest rates, perceived trends in securities prices, general economic conditions, political developments, regulatory or market developments, market development, changes in market conditions, and changes in market interest rates. These market fluctuations can cause a fund’s shares to lose value or perform poorly compared to other investments. A fund’s investments could also be affected by local, regional, and global events like war, terrorist acts, spreading infectious diseases, recessions, and other issues. Some events might have a more significant impact on specific geographic areas, countries, sectors, or industries than others. Russia invaded Ukraine on February 20, 2022. This caused major market disruptions in Russia, Europe and the United States and could continue to do so. Some fund investments, as well as fund performance, could be significantly affected by the hostilities or sanctions that result from these hostilities. Global financial markets are likely to continue experiencing significant volatility and uncertainty due to the COVID-19 global pandemic, and the ensuing policies by central banks and governments. The U.S. has resumed normal business activities, but many other countries still impose lockdowns. There is no way to know if vaccines will work against new variants of the disease.

The Fund is concentrated in securities issued to energy infrastructure companies. It will be more susceptible for adverse economic or regulatory events affecting this industry. MLP securities can present risks that are different to or more than common stocks. Since 2014, the number of MLPs that are energy-related has fallen. In the energy sector, there is a trend towards consolidation and simplification in corporate structures that eliminate the MLP capital sleeve. These changes could result in the Fund’s MLP portfolio becoming less diverse. The Fund may also increase its non MLP investments to meet its investment policy and objectives. Future changes in tax laws and regulations or their interpretations could have a negative impact on the Fund, the MLPs, MLP related entities, and other energy sector or utility companies in which it invests.

The Fund invests only in securities issued by non-U.S. companies, which have higher volatility than U.S. securities. You may lose money because the Fund invests only in non-U.S. securities.

It is impossible to know if the tax-advantaged, qualified dividend income will make up the portion of the distributions made to the Fund’s Common Shareholders.

LIBOR Risk is applicable to any fund that invests in floating rate or variable rate obligations which use the London Interbank Offer Rate (“LIBOR”), as a reference interest rates. The Financial Conduct Authority of the United Kingdom, which regulates LIBOR, has stopped making LIBOR as a reference rate during a phase-out period that started December 31, 2021. There are no guarantees that any alternative reference rate, such as the Secured Overnight Finance Rate (“SOFR”) or instruments that use an alternative rate, will have the same liquidity or value as LIBOR. In some cases, the availability or replacement of LIBOR could affect fund investments’ value, liquidity and return. There may also be costs associated with closing positions or entering new trades. It can be difficult to determine the potential impact of the withdrawal of LIBOR on the fund, or certain instruments in which it invests. They may vary depending upon a number of factors and could cause losses.

Leverage can lead to additional risk and costs, as well as magnifying the impact of losses.

The investor reports and other regulatory filings outline the risks involved in investing in the Fund.

This information is not meant to be an investment recommendation or advice for any individual. First Trust is not obligated to offer advice as a fiduciary under ERISA, Internal Revenue Code or other regulatory frameworks. Financial professionals must evaluate investment risks independently and use independent judgment to determine whether investments are appropriate.

Forward-Looking Statements

Certain statements made in this press 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 those anticipated in any forward-looking statements. You should not place undue reliance on forward‑looking statements, which speak only as of the date they are made. The Fund undertakes no responsibility to update publicly or revise any forward‑looking statements.

Businesswire.com – View the source version https://www.businesswire.com/news/home/20221215005973/en/

Contacts

Don Swade (630), 765-8661

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