First Trust Mortgage Income Fund Declares its Monthly Common Share Distribution of $0.085 Per Share for November

First Trust Mortgage Income Fund (the “Fund”) (NYSE: FMY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.085 per share payable on November 16, 2015, to shareholders of record as of November 4, 2015. The ex-dividend date is expected to be November 2, 2015. The monthly distribution information for the Fund appears below.

First Trust Mortgage Income Fund (FMY):

Distribution per share: $0.085
Distribution Rate based on the October 19, 2015 NAV of $16.04: 6.36%
Distribution Rate based on the October 19, 2015 closing market price of $14.49: 7.04%

The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2015 will be made after the end of 2015.

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to preserve capital. The Fund pursues these investment objectives by investing primarily in mortgage-backed securities representing part ownership in a pool of either residential or commercial mortgage loans that, in the opinion of the Fund’s investment sub-advisor, offer an attractive combination of credit quality, yield and maturity.

First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $106 billion as of September 30, 2015, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Brookfield Investment Management Inc. (“Brookfield”) serves as the Fund’s investment sub-advisor. Brookfield is a wholly-owned subsidiary of Brookfield Asset Management, a global alternative asset manager with over $200 billion in assets under management as of June 30, 2015. Brookfield Asset Management has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield Asset Management’s public market activities are conducted by Brookfield, a registered investment advisor, with $17 billion of assets under management as of September 30, 2015.

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.

Principal Risk Factors: Investment in this Fund involves investment and market risk, management risk, credit risk, prepayment risk, reinvestment risk, interest rate risk, floating rate CMOs and inverse floating rate CMOs risk, bond market risk, economic sector risk, inflation risk, U.S. government securities risk, government agency risk, asset-backed securities risk, market discount risk, leverage risk, interest rate transactions risk, derivatives risk, market disruption risk, portfolio turnover risk, tax risk relating to investments in certain REMICs, and illiquid/restricted securities risk. The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings.

The Fund’s daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.

Contacts:

First Trust Mortgage Income Fund
Press Inquiries: Jane Doyle, 630-765-8775
Analyst Inquiries: Jeff Margolin, 630-915-6784
Broker Inquiries: Jeff Margolin, 630-915-6784

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