FCT board approves reorganization into First Trust Flexible Income ETF

FIRST TRUST SENIOR FLOATING RATE INCOME FUND II

Board of FCT approved tax-free reorganization into newly created actively managed ETF.
Shareholders will receive ETF shares equal to their FCT NAV; consummation expected in 2026.
Reorganization subject to shareholder approval, regulatory requirements, and closing conditions.
FTA manages both funds and reported ~$304 billion AUM as of October 31, 2025.
Detailed proxy statement/prospectus to be filed with SEC in coming weeks.

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