The Board of Trustees of First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU), CUSIP 33740D107, 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.

First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU) is significantly reducing its regularly scheduled monthly distribution per share to the amount of $0.06 per share from $0.121 per share. The distribution is payable on May 15, 2020, to shareholders of record as of May 4, 2020. The ex-dividend date is expected to be May 1, 2020. The monthly distribution information for the Fund appears below.

The Board of Trustees of First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU), CUSIP 33740D107, 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 Board of Trustees of First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU), CUSIP 33740D107, 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.

First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.121 per share payable on April 15, 2020, to shareholders of record as of April 2, 2020. The ex-dividend date is expected to be April 1, 2020. The monthly distribution information for the Fund appears below.

First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.06 per share payable on June 15, 2020, to shareholders of record as of June 2, 2020. The ex-dividend date is expected to be June 1, 2020. The monthly distribution information for the Fund appears below.