First Trust High Yield Opportunities 2027 Term Fund Declares its Monthly Common Share Distribution of $0.1194 Per Share for December

First Trust High Yield Opportunities 2027 Term Fund (the "Fund") (NYSE: FTHY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.1194 per share payable on December 28, 2020, to shareholders of record as of December 2, 2020. The ex-dividend date is expected to be December 1, 2020. The monthly distribution information for the Fund appears below.

First Trust High Yield Opportunities 2027 Term Fund (FTHY):

Distribution per share:

$0.1194

Distribution Rate based on the November 18, 2020 NAV of $21.12:

6.78%

Distribution Rate based on the November 18, 2020 closing market price of $19.68:

7.28%

We anticipate these distributions will be paid out of net investment income earned by the Fund. The final determination of the source and tax status of all distributions paid in 2020 will be made after the end of 2020 and will be provided on Form 1099-DIV.

The Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income. Under normal market conditions, the Fund will seek to achieve its investment objective by investing at least 80% of its managed assets in high yield debt securities of any maturity that are rated below investment grade at the time of purchase or unrated securities determined by First Trust Advisors L.P. ("FTA") to be of comparable quality. High yield debt securities include U.S. and non-U.S. corporate debt obligations and senior, secured floating rate loans ("Senior Loans"). Securities rated below investment grade are commonly referred to as "junk" or "high yield" securities and are considered speculative with respect to the issuer's capacity to pay interest and repay principal. There can be no assurance that the Fund will achieve its investment objective or that the Fund's investment strategies will be successful.

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 $147 billion as of October 31, 2020 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.