The Board of Trustees of First Trust Enhanced Equity Income Fund (the "Fund") (NYSE: FFA), CUSIP 337318109, 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 more frequently than otherwise permitted with respect to its common shares subject to certain conditions. The Fund has declared a distribution payable on March 31, 2023, to shareholders of record as of March 23, 2023, with an ex-dividend date of March 22, 2023. This Notice is meant to provide you information about the sources of your Fund’s distributions. You should not draw any conclusions about the Fund's investment performance from the amount of its distribution or from the terms of its Managed Distribution Plan. The following tables set forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year to date for the Fund from the following sources: net investment income ("NII"); net realized short-term capital gains ("STCG"); net realized long-term capital gains ("LTCG"); and return of capital ("ROC"). These estimates are based upon information projected through March 31, 2023, are calculated based on a generally accepted accounting principles ("GAAP") basis and include the prior fiscal year-end undistributed net investment income. The amounts and sources of distributions are expressed per common share. 5 Yr. Avg. Annualized Current Annual Total Fund Fund Fiscal Total Current Current Distribution ($) Current Distribution (%) Dist. Rate as a Return Ticker Cusip Year End Distribution NII STCG LTCG ROC (2) NII STCG LTCG ROC(2) % of NAV(3) on NAV(4) FFA 337318109 12/31/2023 $0.31500 $0.21280 - - $0.10220 67.56% - - 32.44% 7.26% 8.54% Total Cumulative Cumulative Fiscal Fund Fund Fiscal Cumulative Fiscal YTD Cumulative Distributions Fiscal YTD ($) Cumulative Distributions Fiscal YTD (%) Fiscal YTD Distributions as YTD Total Return Ticker Cusip Year End Distributions(1) NII STCG LTCG ROC (2) NII STCG LTCG ROC(2) a % of NAV(3) on NAV(4) FFA 337318109 12/31/2023 $0.31500 $0.21280 - - $0.10220 67.56% - - 32.44% 1.82% 3.95% (1) Includes the most recent quarterly distribution paid on March 31, 2023. (2) The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income." (3) Based on Net Asset Value ("NAV") as of February 28, 2023. (4) Total Returns are through February 28, 2023. The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. You should not use this Notice as a substitute for your Form 1099-DIV. First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $196 billion as of February 28, 2023 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois. Chartwell Investment Partners, LLC ("Chartwell") serves as the Fund's investment sub-advisor and is an investment firm focusing on institutional, sub-advisory, and private client relationships. The firm is a research-based equity and fixed-income manager with a disciplined, team-oriented investment process. As of February 28, 2023, Chartwell had approximately $10.7 billion in assets under management. Principal Risk Factors: Risks are inherent in all investing. Certain risks applicable to the Fund are identified below, which includes the risk that you could lose some or all of your investment in the Fund. The principal risks of investing in the Fund are spelled out in the Fund's annual shareholder reports. The order of the below risk factors does not indicate the significance of any particular risk factor. The Fund also files reports, proxy statements and other information that is available for review. Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors. Securities held by a fund, as well as shares of a fund itself, are subject to market fluctuations caused by factors such as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result of the risk of loss associated with these market fluctuations. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on a fund and its investments. Such events may affect certain geographic regions, countries, sectors and industries more significantly than others. In February 2022, Russia invaded Ukraine which has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain fund investments as well as fund performance. The COVID-19 global pandemic and the ensuing policies enacted by governments and central banks have caused and may continue to cause significant volatility and uncertainty in global financial markets. While the U.S. has resumed "reasonably" normal business activity, many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease. Shares of closed-end investment companies such as the Fund frequently trade at a discount from their net asset value. The Fund cannot predict whether its common shares will trade at, below or above net asset value. The Fund may write (sell) covered call options on all or a portion of the equity securities held in the Fund's portfolio. The use of options may require the Fund to sell portfolio securities at inopportune times or for prices other than current market values, may limit the amount of appreciation the Fund can realize on an investment, or may cause the Fund to hold an equity security that it might otherwise sell. Premiums from writing (selling) call options and dividends and interest payments made by the securities in the Fund's portfolio can vary widely over time. An adverse event affecting an issuer of equity securities, such as an unfavorable earnings report, may depress the value of a particular equity security held by the Fund. Also, the prices of equity securities are sensitive to general movements in the stock market and a drop in the stock market may depress the prices of equity securities to which the Fund has exposure. There is no guarantee that the issuers of the equity securities in which the Fund invests will declare dividends in the future or that if declared they will remain at current levels. There can be no assurance as to what portion of the distributions paid to the Fund's Common Shareholders will consist of tax-advantaged qualified dividend income. Investment in non-U.S. securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries. The Fund may not invest 25% or more of its total assets in securities of issuers in any single industry. If the Fund is focused in an industry, it may present more risks than if it were broadly diversified over numerous industries of the economy. The risks of investing in the Fund are spelled out in the shareholder report and other regulatory filings. The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients. Forward-Looking Statements Certain statements made in this press release that are not historical facts are referred to as "forward-looking statements" under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from those anticipated in any forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no responsibility to update publicly or revise any forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20230331005413/en/ Contacts Don Swade, (630) 765-8661Liberty Media Corporation (“Liberty”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) today announced the payment of a quarterly interest payment and an Excess Regular Additional Distribution to the holders as of March 15, 2023 of its 2.125% Exchangeable Senior Debentures due 2048 (the “Debentures”). The amount of the quarterly interest payment is $5.3125 per $1,000 original principal amount of Debentures, and the amount of the Excess Regular Additional Distribution is $1.6459 per $1,000 original principal amount of Debentures. As of March 31, 2023, the aggregate adjusted principal amount outstanding is approximately $275 million, after giving effect to today’s quarterly interest payment. Capitalized terms used but not defined herein have the meaning given to them in the Indenture for the Debentures. Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced in an amount equal to each Extraordinary Additional Distribution that is made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive quarterly interest payment date to the extent necessary to cause the quarterly interest payment to represent the payment of an annualized yield of 2.125% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular Extraordinary Additional Distribution that results in a reduction to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that Extraordinary Additional Distribution. To date, Liberty has made one Extraordinary Additional Distribution to holders of the Debentures. As previously announced, on March 4, 2022, Liberty made an Extraordinary Additional Distribution of $31.1731 per $1,000 original principal amount of Debentures, which was attributable to the special cash dividend paid on February 25, 2022 by Sirius XM Holdings Inc. (“SIRI”) to holders of its common stock of record as of the close of business on February 11, 2022. Reductions to the principal amount of the Debentures do not affect the amount of the quarterly interest payments received by holders of the Debentures, which will continue to be a rate equal to 2.125% per annum of the original principal amount of the Debentures. Below is a detail of the amount of the quarterly interest payment being made on the Debentures, its allocation between payment of interest and repayment of principal and the revised adjusted principal amount of the Debentures resulting from such payment, per $1,000 original principal amount of the Debentures: Beginning Adjusted Principal Payment Interest Payment of Principal March 31, 2023 Ending Adjusted Principal $968.3274 $5.3125 $5.1442 $0.1683 $968.1592 Liberty is also making an Excess Regular Additional Distribution to holders of the Debentures as of March 15, 2023 of $1.6459 per Debenture, which is attributable to the regular quarterly dividend paid by SIRI of $0.0242 per share on February 24, 2023. The payment of the Excess Regular Additional Distribution will not result in a reduction to the adjusted principal amount of the Debentures. The quarterly interest payment and Excess Regular Additional Distribution are expected to be made on March 31, 2023 to holders of record of the Debentures as of March 15, 2023. About Liberty Media Corporation Liberty Media Corporation operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Formula One Group. The businesses and assets attributed to the Liberty SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include Liberty Media Corporation’s interests in SiriusXM and Live Nation Entertainment. The businesses and assets attributed to the Braves Group (NASDAQ: BATRA, BATRK) include Liberty Media Corporation’s subsidiary Braves Holdings, LLC. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) consist of all of Liberty Media Corporation’s businesses and assets other than those attributed to the Liberty SiriusXM Group and the Braves Group, including its subsidiary Formula 1 and other minority investments. View source version on businesswire.com: https://www.businesswire.com/news/home/20230331005405/en/ Contacts Shane Kleinstein 720-875-5432 More