Definitive Materials Filed by Investment Companies. (497)
October 06 2022 - 11:52AM
Edgar (US Regulatory)
Rule 497(e)
Registration Nos. 333-184918 and 811-22767
First Trust Exchange-Traded
Fund VII
(the
“Trust,” and each series of the
Trust, a “Fund”)
Supplement To
each Fund’s Statement of Additional Information
OCTOBER
6, 2022
Notwithstanding anything to the contrary
in each Fund’s Statement of Additional Information, First Trust Advisors L.P.’s (“First Trust”) use of
the ISS Proxy Voting Guidelines is not intended to constrain First Trust’s consideration of any proxy proposal, and there are times
when First Trust deviates from the ISS Proxy Voting Guidelines. This includes when required by Rule 12d1-4 agreements between a Fund and
certain acquired funds, if applicable. Generally, First Trust will not rely on ISS Proxy Voting Guidelines to withhold votes or vote against
directors solely based on quota criteria or the exclusion of certain climate-related disclosures, which may or may not relate to the company’s
core business or may not materially impact shareholder value. First Trust will consider such proxy voting decisions in light of merit-based
considerations which it believes may impact shareholder value. First Trust retains final authority and fiduciary responsibility for proxy
voting.
PLEASE KEEP THIS
SUPPLEMENT WITH YOUR FUND
STATEMENT OF
ADDITIONAL INFORMATION FOR FUTURE REFERENCE
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