Biotechnology Portfolio, Series 66

Biotechnology has already had a significant impact on the diagnosis, treatment and prevention of diseases, and we believe further advances could potentially bring about radically new approaches to health care. Research and development has afforded many patients access to new and better medicines that are allowing them to maintain their normal lives, instead of being debilitated by a disease. In fact, some diseases once considered fatal have now evolved into “chronic diseases” that can be managed, due in large measure to advances in diagnostic procedures and new medicines developed by biotechnology and pharmaceutical companies.

Consider the following factors:

• More than 250 biotechnology health care products and vaccines are currently available to patients, many for previously untreatable diseases.²

• Biotechnology is becoming more involved in the agriculture sector. Agricultural biotechnology benefits farmers, consumers and the environment by increasing yields and farm income, decreasing pesticide applications and improving soil and water quality, and providing healthful foods for consumers.² The global agricultural biotechnology market was worth $106.6 billion in 2022 and is estimated to grow at a compound average growth rate of 8.6% to reach approximately $242.2 billion by 2032.³

• We believe the outlook for long-term investing remains quite encouraging due to promising drug launches, cost-cutting efforts, an aging population, increasing health care spending, increased merger & acquisition activity and expansion into emerging markets.

^1,2 Biotechnology Innovation Organization
³ Precedence Research

Portfolio Objective

This unit investment trust seeks above-average capital appreciation; however, there is no assurance the objective will be met.

You should consider the portfolio's investment objective, risks, and charges and expenses carefully before investing. Contact your financial professional or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the portfolio. Read it carefully before you invest.

Risk Considerations
An investment in this unmanaged unit investment trust should be made with an understanding of the risks involved with owning common stocks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

You should be aware that the portfolio is concentrated in biotechnology and pharmaceutical companies in the health care sector which involves additional risks, including limited diversification. The companies engaged in the biotechnology and pharmaceutical industries are subject to fierce competition, substantial research and development costs, governmental regulations, pricing constraints, and their products and services may be subject to rapid obsolescence. Biotechnology and pharmaceutical stocks have experienced extreme price and volume fluctuations that are often unrelated to their operating performance. In addition, health crises, such as a pandemic outbreak, can severely impact the health care industry in particular.

Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

Large capitalization companies may grow at a slower rate than the overall market.

As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East have caused and could continue to cause significant market disruptions and volatility within the
markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.