Fund Description: FT Cboe Vest U.S. Equity Deep Buffer ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the First Trust Exchange-Traded Fund VIII, an open-end investment management company. INVESTMENT OBJECTIVE: The FT Cboe Vest U.S. Equity Deep Buffer ETF seeks to provide investors with returns (before fees, expenses and taxes) that match those of the SPDR S&P 500 ETF Trust (the Underlying ETF), up to a predetermined upside cap of 6.58% (before fees, expenses and taxes) and 5.91% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee), while providing a buffer against Underlying ETF losses between -5% and -30% (before fees, expenses and taxes) over the period from 11/7/2019 to 8/21/2020. The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Rather, the Adviser has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective. FUND STRATEGY: Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options (FLEX Options) that reference the performance of the SPDR S&P 500® ETF Trust (the Underlying ETF). FLEX Options are customized equity or index option contracts that trade on an exchange, but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. The Underlying ETF is an exchange-traded unit investment trust that uses a full replication strategy, meaning it invests entirely in the S&P 500 Index. FUND MANAGEMENT: First Trust Advisors L.P. serves as investment advisor to the Fund. Cboe VestSM Financial LLC serves as the Investment Sub-Advisor to the Fund.