First Trust will launch tomorrow the First Trust California Municipal High Income ETF on June 21, 2017

First Trust Exchange-Traded Fund III (the “Trust”) is a management investment company registered under the Investment
Company Act of 1940, as amended (the “1940 Act”). The Trust consists of separate exchange-traded funds (each, a “Fund”). This
circular refers only to the Fund listed above. The shares of the Fund are referred to herein as “Shares.” First Trust Advisors L.P.
(the “Adviser”) serves as the investment adviser for the Fund.