Caution Regarding Forward-Looking Statements

This report contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of First Trust Advisors L.P. (“First Trust” or the “Advisor”) and/or Cboe VestSM Financial LLC (“Cboe Vest” or the “Sub-Advisor”) and their respective representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as “anticipate,” “estimate,” “intend,” “expect,” “believe,” “plan,” “may,” “should,” “would” or other words that convey uncertainty of future events or outcomes.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the series of First Trust Exchange-Traded Fund VIII (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, as the “Funds”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this report, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of the Advisor and/or Sub- Advisor and their respective representatives only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Performance and Risk Disclosure

There is no assurance that any Fund described in this report will achieve its investment objective. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money investing in a Fund. See “Risk Considerations” in the Additional Information section of this report for a discussion of certain other risks of investing in the Funds.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.

The Advisor may also periodically provide additional information on Fund performance on each Fund’s webpage at www.ftportfolios.com.

How to Read This Report

This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data and analysis that provide insight into each Fund’s performance and investment approach.

By reading the portfolio commentary from the portfolio management team(s) of the Funds, you may obtain an understanding of how the market environment affected each Fund’s performance. The statistical information that follows may help you understand each Fund’s performance compared to that of a relevant market benchmark.

It is important to keep in mind that the opinions expressed by personnel of the Advisor and/or Sub-Advisor are just that:informed opinions. They should not be considered to be promises or advice. The opinions, like the statistics, cover the period through the date on the cover of this report. The material risks of investing in each Fund are spelled out in the prospectus, statement of additional information, and other Fund regulatory filings.

Page 1

Shareholder Letter

First Trust Exchange-Traded Fund VIII
Annual Letter from the Chairman and CEO
August 31, 2023

Dear Shareholders:

First Trust is pleased to provide you with the annual report for certain series of the First Trust Exchange-Traded Fund VIII (the “Funds”), which contains detailed information about the Funds for the twelve months ended August 31, 2023. Please note that some of the Funds were incepted after September 1, 2022, the start of the reporting period, so information in this letter and the report prior to those inception dates will not apply to all Funds.

As many investors are aware, the Federal Reserve (the “Fed”) remains locked in a closely watched battle with stubbornly high inflation. At their most recent meeting (September 20, 2023), the Federal Open Market Committee voted to keep the Federal Funds target rate (upper bound) unchanged at 5.5%, marking the second pause in a series of eleven increases that started on March 16, 2022. To be sure, the Fed has made considerable progress in reducing rising prices but has yet to see inflation fall to its 2.0% goal. Inflation, as measured by the twelve month trailing change in the rate of the Consumer Price Index, stood at 3.7% on August 31, 2023, down from its most recent high of 9.1% set on June 30, 2022, but up from its most recent low of 3.0% set on June 30, 2023.

One impact of rising prices and higher interest rates is that Americans’ excess savings, defined as the difference between the savings rate during the COVID-19 pandemic recession and its pre-recession trend, appear to be nearly depleted. The Federal Reserve Bank of San Francisco estimates that by June 2023, U.S. households held less than $190 billion of the excess savings they accumulated after the onset of the pandemic recession. At the current pace, the bank estimates that these excess savings will be depleted sometime in the third quarter of 2023. For comparison, excess savings peaked at nearly $2.1 trillion in August 2021. In our view, these excess savings are one reason consumer spending has remained robust in the face of elevated prices. Once these savings are gone, we could see the consumer struggle to manage their debt burden, in our opinion. In a potential harbinger of things to come, delinquency rates have already begun to rise. Data from the Federal Reserve Bank of New York revealed that the rate of new credit card and new auto loan delinquencies stood at 7.2% and 7.3%, respectively, in the second quarter of 2023, surpassing pre-pandemic levels.

Suffice it to say, the U.S. economy has remained resilient, registering positive changes to gross domestic product (“GDP”) in each of the past four quarters. Brian Wesbury, Chief Economist at First Trust, expects this growth to continue, estimating third quarter 2023 GDP could increase by as much as 4.0%. That said, Mr. Wesbury also notes that another quarter of economic growth does not mean that a recession is off the table. Several economic metrics continue to enjoy favorable comparisons to COVID-19-era lockdowns and recent governmental incentives, such as the CHIPS and Science Act of 2022, could be providing a temporary boost to economic growth.

Thank you for giving First Trust the opportunity to play a role in your financial future. We value our relationship with you and will report on the Funds again in six months.

Sincerely,

James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.

Page 2

Fund Performance Overview (Unaudited)

FT Cboe Vest International Equity Buffer ETF - March (YMAR)

The investment objective of the FT Cboe Vest International Equity Buffer ETF - March (the “Fund”) is to seek to provide investors with returns that match the price return of the iShares MSCI EAFE ETF (the “Underlying ETF”), up to a predetermined upside cap of 24.78% (before fees and expenses) and 23.88% (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 (before fees and expenses) against the first 10% of Underlying ETF losses, over the period from March 20, 2023 to March 15, 2024 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “YMAR.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (3/19/21) to 8/31/23	Inception (3/19/21) to 8/31/23
Fund Performance
NAV	16.25%	1.75%	4.35%
Market Price	17.01%	1.93%	4.80%
Index Performance
MSCI EAFE Index - Price Return	14.60%	-2.27%	-5.48%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter) is available at https://www.ftportfolios.com/Retail/etf/home.aspx.

Prior to March 20, 2023, the Fund’s investment objective included an upside cap of 20.70% (before fees and expenses) and 19.80% (after fees and

expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an

Outcome Period of March 21, 2022 to March 17, 2023.

Page 3

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)

The investment objective of the FT Cboe Vest Nasdaq-100® Buffer ETF - March (the “Fund”) is to seek to provide investors with returns that match the price return of the Invesco QQQ TrustSM, Series 1 (the “Underlying ETF”), up to a predetermined upside cap of 22.15% (before fees and expenses) and 21.25% (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 (before fees and expenses) against the first 10% of Underlying ETF losses, over the period from March 20, 2023 to March 15, 2024 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “QMAR.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (3/19/21) to 8/31/23	Inception (3/19/21) to 8/31/23
Fund Performance
NAV	20.45%	8.43%	21.96%
Market Price	20.67%	8.36%	21.76%
Index Performance
Nasdaq-100 Index® - Price Return	26.31%	7.89%	20.47%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to March 20, 2023, the Fund’s investment objective included an upside cap of 17.25% (before fees and expenses) and 16.35% (after fees and

expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an

Outcome Period of March 21, 2022 to March 17, 2023.

Page 4

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)

The investment objective of the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (the “Fund”) is to seek to provide investors with returns of approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 13.01% (before fees and expenses) and 12.16% (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 (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from March 20, 2023 to March 15, 2024 (the “Outcome Period”). Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “XMAR.”

Performance
	Cumulative Total Returns
	Inception (3/17/23) to 8/31/23
Fund Performance
NAV	7.69%
Market Price	7.42%
Index Performance
S&P 500® Index - Price Return	15.09%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Page 5

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest International Equity Buffer ETF - June (YJUN)

The investment objective of the FT Cboe Vest International Equity Buffer ETF - June (the “Fund”) is to seek to provide investors with returns that match the price return of the iShares MSCI EAFE ETF (the “Underlying ETF”), up to a predetermined upside cap of 18.94% (before fees and expenses) and 18.03% (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 (before fees and expenses) against the first 10% of Underlying ETF losses, over the period from June 20, 2023 to June 21, 2024 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “YJUN.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (6/18/21) to 8/31/23	Inception (6/18/21) to 8/31/23
Fund Performance
NAV	15.83%	0.57%	1.25%
Market Price	16.41%	0.77%	1.70%
Index Performance
MSCI EAFE Index - Price Return	14.60%	-4.02%	-8.64%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to June 20, 2023, the Fund’s investment objective included an upside cap of 24.20% (before fees and expenses) and 23.31% (after fees and

expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an

Outcome Period of June 21, 2022 to June 16, 2023.

Page 6

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)

The investment objective of the FT Cboe Vest Nasdaq-100® Buffer ETF - June (the “Fund”) is to seek to provide investors with returns that match the price return of the Invesco QQQ TrustSM, Series 1 (the “Underlying ETF”), up to a predetermined upside cap of 20.53% (before fees and expenses) and 19.62% (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 (before fees and expenses) against the first 10% of Underlying ETF losses, over the period from June 20, 2023 to June 21, 2024 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “QJUN.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (6/18/21) to 8/31/23	Inception (6/18/21) to 8/31/23
Fund Performance
NAV	20.33%	6.04%	13.79%
Market Price	20.42%	6.00%	13.69%
Index Performance
Nasdaq-100 Index® - Price Return	26.31%	4.56%	10.33%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to June 20, 2023, the Fund’s investment objective included an upside cap of 25.19% (before fees and expenses) and 24.30% (after fees and

expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an

Outcome Period of June 21, 2022 to June 16, 2023.

Page 7

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)

The investment objective of the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (the “Fund”) is to seek to provide investors with returns approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 11.60% (before fees and expenses) and 10.74% (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 (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from June 20, 2023 to June 21, 2024 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “XJUN.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (7/12/21) to 8/31/23	Inception (7/12/21) to 8/31/23
Fund Performance
NAV	11.32%	6.12%	13.53%
Market Price	11.46%	6.12%	13.53%
Index Performance
S&P 500® Index - Price Return	13.97%	1.30%	2.81%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to June 20, 2023, the Fund’s investment objective included an upside cap of 14.80% (before fees and expenses) and 13.95% (after fees and

expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an

Outcome Period of June 21, 2022 to June 16, 2023.

Page 8

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)

The investment objective of the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (the “Fund”) is to seek to provide investors with returns approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 11.22% (before fees and expenses) and 10.37% (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 (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from July 24, 2023 to July 19, 2024 (the “Outcome Period”). Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “XJUL.”

Performance
	Cumulative Total Returns
	Inception (7/21/23) to 8/31/23
Fund Performance
NAV	0.42%
Market Price	0.10%
Index Performance
S&P 500® Index - Price Return	-0.63%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Page 9

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)

The investment objective of the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (the “Fund”) is to seek to provide investors with returns approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 12.32% (before fees and expenses) and 11.48% (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 (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from August 21, 2023 to August 16, 2024 (the “Outcome Period”). Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “XAUG.”

Performance
	Cumulative Total Returns
	Inception (8/18/23) to 8/31/23
Fund Performance
NAV	1.52%
Market Price	1.58%
Index Performance
S&P 500® Index - Price Return	3.16%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Page 10

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest International Equity Buffer ETF - September (YSEP)

The investment objective of the FT Cboe Vest International Equity Buffer ETF - September (the “Fund”) is to seek to provide investors with returns that match the price return of the iShares MSCI EAFE ETF (the “Underlying ETF”), up to a predetermined upside cap of 25.00% (before fees, expenses and taxes) and 24.10% (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 the first 10% (before fees, expenses and taxes) of Underlying ETF losses, over the period from September 19, 2022 through September 15, 2023 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current Outcome Period or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience result that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “YSEP.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (9/17/21) to 8/31/23	Inception (9/17/21) to 8/31/23
Fund Performance
NAV	15.37%	-0.36%	-0.70%
Market Price	15.52%	-0.41%	-0.80%
Index Performance
MSCI EAFE Index - Price Return	14.60%	-5.35%	-10.19%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to September 19, 2022, the Fund’s investment objective included an upside cap of 12.93% (before fees, expenses and taxes) and 12.03%

(after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management

fee) and an Outcome Period of September 20, 2021 to September 16, 2022.

Page 11

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)

The investment objective of the FT Cboe Vest Nasdaq-100® Buffer ETF - September (the “Fund”) is to seek to provide investors with returns that match the price return of the Invesco QQQ TrustSM, Series 1 (the “Underlying ETF”), up to a predetermined upside cap of 27.27% (before fees, expenses and taxes) and 26.37% (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 the first 10% (before fees, expenses and taxes) of Underlying ETF losses, over the period from September 19, 2022 through September 15, 2023 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current Outcome Period or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience result that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “QSPT.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (9/17/21) to 8/31/23	Inception (9/17/21) to 8/31/23
Fund Performance
NAV	21.92%	4.42%	8.82%
Market Price	21.85%	4.42%	8.82%
Index Performance
Nasdaq-100 Index® - Price Return	26.31%	0.56%	1.09%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to September 19, 2022, the Fund’s investment objective included an upside cap of 13.65% (before fees and expenses) and 12.75% (after fees

and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and

an Outcome Period of September 20, 2021 to September 16, 2022.

Page 12

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)

The investment objective of the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (the “Fund”) is to seek to provide investors with returns of approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 14.90% (before fees and expenses) and 14.07% (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 (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from September 22, 2022 to September 15, 2023 (the “Outcome Period”). Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “XSEP.”

Performance
	Cumulative Total Returns
	Inception (9/21/22) to 8/31/23
Fund Performance
NAV	13.81%
Market Price	13.81%
Index Performance
S&P 500® Index - Price Return	18.94%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Page 13

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest International Equity Buffer ETF - December (YDEC)

The investment objective of the FT Cboe Vest International Equity Buffer ETF - December (the “Fund”) is to seek to provide investors with returns that match the price return of the iShares MSCI EAFE ETF (the “Underlying ETF”), up to a predetermined upside cap of 22.87% (before fees and expenses) and 21.97% (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 (before fees and expenses) against the first 10% of Underlying ETF losses, over the period from December 19, 2022 to December 15, 2023 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “YDEC.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (12/18/20) to 8/31/23	Inception (12/18/20) to 8/31/23
Fund Performance
NAV	16.80%	3.06%	8.47%
Market Price	16.73%	2.95%	8.18%
Index Performance
MSCI EAFE Index - Price Return	14.60%	-0.39%	-1.05%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to December 19, 2022, the Fund’s investment objective included an upside cap of 10.75% (before fees and expenses) and 9.85% (after fees

and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and

an Outcome Period of December 20, 2021 to December 16, 2022.

Page 14

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)

The investment objective of the FT Cboe Vest Nasdaq-100® Buffer ETF - December (the “Fund”) is to seek to provide investors with returns that match the price return of the Invesco QQQ TrustSM, Series 1 (the “Underlying ETF”), up to a predetermined upside cap of 27.03% (before fees and expenses) and 26.13% (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 (before fees and expenses) against the first 10% of Underlying ETF losses, over the period from December 19, 2022 to December 15, 2023 (the “Outcome Period”).* Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate one-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience results that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “QDEC.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (12/18/20) to 8/31/23	Inception (12/18/20) to 8/31/23
Fund Performance
NAV	14.47%	5.25%	14.82%
Market Price	14.43%	5.21%	14.72%
Index Performance
Nasdaq-100 Index® - Price Return	26.31%	7.54%	21.69%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to December 19, 2022, the Fund’s investment objective included an upside cap of 15.89% (before fees and expenses) and 14.99% (after fees

and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and

an Outcome Period of December 20, 2021 to December 16, 2022.

Page 15

Fund Performance Overview (Unaudited) (Continued)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)

The investment objective of the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (the “Fund”) is to seek to provide investors with returns of approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 15.31% (before fees, expenses and taxes) and 14.46% (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 the first 15% (before fees, expenses and taxes) of Underlying ETF losses, over the period from December 19, 2022 through December 15, 2023 (the “Outcome Period”)*. Under normal market conditions, the Fund will invest substantially all of its assets in FLexible Exchange® Options (“FLEX Options”) that reference the price performance of the Underlying ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period ends and will end on the approximate on-year anniversary of that new Outcome Period. On the first day of each new Outcome Period, the Fund resets by investing in a new set of FLEX Options that are designed to provide a new cap for the new Outcome Period. This means that the cap will change for each Outcome Period based upon prevailing market conditions at the beginning of each Outcome Period. The Fund will be perpetually offered and not terminate after the current Outcome Period or any subsequent Outcome Period. An investor that purchases Fund shares other than on the first day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome Period may experience result that are very different from the target outcomes sought by the Fund for that Outcome Period. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol “XDEC.”

Performance
		Average Annual Total Returns	Cumulative Total Returns
	1 Year Ended 8/31/23	Inception (12/17/21) to 8/31/23	Inception (12/17/21) to 8/31/23
Fund Performance
NAV	14.98%	5.33%	9.26%
Market Price	14.85%	5.24%	9.09%
Index Performance
S&P 500® Index - Price Return	13.97%	-1.44%	-2.45%

(See Notes to Fund Performance Overview on page 17.)

Performance figures assume reinvestment of

all distributions and do not reflect the

deduction of taxes that a shareholder would

pay on Fund distributions or the redemption

or sale of Fund shares. An index is a statistical

composite that tracks a specified financial

market or sector. Unlike the Fund, the index

does not actually hold a portfolio of securities

and therefore does not incur the expenses

incurred by the Fund. These expenses

negatively impact the performance of the

Fund. The Fund’s past performance does not

predict future performance.

Frequency Distribution of Discounts and Premiums

Prior to December 19, 2022, the Fund’s investment objective included an upside cap of 8.58% (before fees and expenses) and 7.73% (after fees

and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and

an Outcome Period of December 20, 2021 to December 16, 2022.

Page 16

Notes to Fund Performance Overview (Unaudited)

Total returns for the periods since inception are calculated from the inception date of each Fund. “Average Annual Total Returns” represent the average annual change in value of an investment over the periods indicated. “Cumulative Total Returns” represent the total change in value of an investment over the periods indicated.

Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of outstanding shares. The price used to calculate market return (“Market Price”) is determined by using the midpoint of the national best bid and offer price (“NBBO”) as of the time that the Fund’s NAV is calculated. Under the Securities and Exchange Commission’s rules, the NBBO consists of the highest displayed buy and lowest sell prices among the various exchanges trading the Fund at the time the Fund’s NAV is calculated. Since shares of each Fund did not trade in the secondary market until after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund, the NAV of each Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that all distributions have been reinvested in each Fund at NAV and Market Price, respectively.

An index is a statistical composite that tracks a specified financial market or sector. Unlike each Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by each Fund. These expenses negatively impact the performance of each Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The total returns presented reflect the reinvestment of dividends on securities in the indices. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. The investment return and principal value of shares of each Fund will vary with changes in market conditions. Shares of each Fund may be worth more or less than their original cost when they are redeemed or sold in the market. Each Fund’s past performance is no guarantee of future performance.

Page 17

Portfolio Commentary

First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)

Advisor

First Trust Advisors L.P. (“First Trust” or the “Advisor”) is the investment advisor to FT Cboe Vest International Equity Buffer ETF - March (“YMAR”), FT Cboe Vest Nasdaq-100® Buffer ETF - March (“QMAR”), FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (“XMAR”), FT Cboe Vest International Equity Buffer ETF - June (“YJUN”), FT Cboe Vest Nasdaq-100® Buffer ETF - June (“QJUN”), FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (“XJUN”), FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (“XJUL”), FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (“XAUG”), FT Cboe Vest International Equity Buffer ETF - September (“YSEP”), FT Cboe Vest Nasdaq-100® Buffer ETF - September (“QSPT”), FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (“XSEP”), Cboe Vest International Equity Buffer ETF - December (“YDEC”), FT Cboe Vest Nasdaq-100® Buffer ETF - December (“QDEC”), and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (“XDEC”), (each a “Fund” and collectively, the “Funds”). First Trust is responsible for the ongoing monitoring of each Fund’s investment portfolio, managing each Fund’s business affairs and providing certain administrative services necessary for the management of each Fund.

Sub-Advisor

Cboe VestSM Financial LLC (“Cboe Vest” or the “Sub-Advisor”) serves as the sub-advisor to the Funds. In this capacity, Cboe Vest is responsible for the selection and ongoing monitoring of the securities in each Fund’s investment portfolio. Cboe Vest, with principal offices at 8350 Broad St., Suite 240, McLean, VA 22102, was founded in 2012. Cboe Vest had approximately $16.3 billion under management or committed to management as of August 31, 2023.

Portfolio Management Team

The following persons serve as portfolio managers of the Funds:

Karan Sood, Managing Director of Cboe Vest

Howard Rubin, Managing Director of Cboe Vest

Commentary

Market Recap

Each of the monthly FT Cboe Vest Target Outcome ETFs have an investment objective that seeks to provide investors with returns (before fees, expenses, and taxes) that match those of a specified reference exchange-traded fund (“ETF”), one of the SPDR® S&P 500® ETF Trust, the Invesco QQQ TrustSM, Series 1 or the iShares MSCI EAFE ETF (the “Underlying ETF” or “Reference ETF”), up to a predetermined upside cap (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 a specific level (before fees, expenses and taxes) of losses in the Reference ETF, over a specified time period.

During the 12-month period ended August 31, 2023 (the “Period”), stock markets generally rallied as central banks, including the U.S. Federal Reserve Bank (the “Fed”), raised interest rates in an attempt to reduce high inflation rates. The subsequent decline in inflation rates, combined with a resilient economy that has avoided recession and looks more likely to have a “soft landing,” encouraged the equity markets.

The S&P 500® Index, the well-known measure of U.S. large-cap stocks, ended the Period up 15.94%. Mid- and small-capitalization stocks, as measured by the S&P MidCap 400® Index and the Russell 2000® Small Cap Index, rose as well, gaining 10.71% and 4.65%, respectively, during the Period. The Nasdaq-100 Index®, a tech-heavy market measure, gained 27.44% during the Period. International markets gained as well, with broad foreign market indices such as MSCI EAFE Index and MSCI Emerging Markets Index rising by 17.92% and 1.25%, respectively, during the Period.

During the Period, the market continued to see substantial variations in returns across the eleven major sectors in the S&P 500® Index. The two best performing sectors were the Information Technology and Communication Services sectors, which gained 33.33% and 25.76%, respectively. The only two sectors to post losses over the Period were the Utility and Real Estate sectors, which lost 12.65% and 8.15%, respectively.

Page 18

Portfolio Commentary (Continued)

First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)

U.S. economic data was generally stronger than expected. Quarterly gross domestic product (“GDP”) reports showed the U.S. economy reversing direction and beginning to grow again after recording two declining quarters in the prior period. The four most recent quarterly reports (third quarter 2022 through second quarter 2023) saw seasonally adjusted annualized rates of 3.2%, 2.6%, 2.0%, and 2.1%, sequentially. A recent Bloomberg survey of economists shows a consensus projection of 2.0% GDP growth for all of 2023 and 0.9% for all of 2024.

The U.S. unemployment rate began the Period at 3.7% (for August 2022) and ended the Period at 3.8% (for August 2023). The rate remained below 4.0% in each of the twelve monthly reports while dropping as low as 3.4%, thus remaining very close to 50 year lows.

U.S inflation levels declined over the Period. The most recent (August 2023) Consumer Price Index report shows year-over-year inflation running at a 3.7% rate, down from 8.3% reported twelve months earlier. Housing prices in the U.S., which had increased dramatically over the last two years, were essentially flat (down just 0.02%) over the current period, based on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. According to this index, home prices fell during the first half of the Period, but then turned upward in the latter half.

The Fed continued the interest rate hike cycle that it initiated in January 2022. Over the Period, the Fed raised the upper bound of its Federal Funds target rate from 2.5% to 5.5%. Interest rate hikes were more aggressive over the first half of the Period, and more muted over the second half. Fed Fund futures prices, as of this writing, suggest that market participants anticipate that the Fed may hike just one more quarter point this year, before reversing direction and cutting rates in 2024.

Market and Fund Outlook

Over the Period, implied volatilities in U.S. equity markets averaged about 25.4%, according to the Cboe S&P 500® 1-Year Volatility Index. This index is derived from option prices and estimates the market’s expectation of S&P 500® Index volatility for the next twelve months. As of the end of the Period, the index stands at 20.1%. For comparison purposes, the historical volatility of the S&P 500® Index since its inception in 1937 has been about 15.7%. We anticipate that implied volatilities will decline slightly over the coming year. Buffer strategies, such as those used in the FT Cboe Vest Funds, generally benefit from declining implied volatilities.

While most fixed income securities have seen their nominal yields increase during the Period, many still have relatively low real yields (i.e., nominal yield less the inflation rate.) This continues to be a headwind for future fixed income returns. Because of this, many investors continue to reallocate away from fixed income investments.

The FT Cboe Vest Funds are an alternative that these investors should consider. The FT Cboe Vest Funds are designed to protect investors against varying levels of downside movements in their Reference ETF (e.g., SPY, QQQ, or EFA), while limiting the investor’s participation in larger upside moves in the Reference ETF. In the current low real yield environment, such Funds, in appropriate allocations, can be suitable alternatives to fixed income investments.

Performance Analysis

The following table provides information pertaining to recent caps and performance for the Period for each FT Cboe Vest Fund.

Each Fund’s cap is reset at the Fund’s annual reset date. The table shows the caps that were in effect both at the beginning of the Period and after the annual reset date that occurred within the Period. Both of these caps are shown pre- and post- expenses. Funds that were launched within the Period do not yet have new caps, as they have not yet reached their first annual reset date.

Each Fund’s performance may be impacted by a number of factors. These factors include changes in each of: the level of the Reference ETF, the Reference ETF’s dividends, interest rates, implied volatility, and time to option expiration. Generally, changes in the level of the Reference ETF are the primary factor, but the other factors can also contribute significantly to Fund performance. Additionally, fees and expenses will impact Fund performance.

Page 19

Portfolio Commentary (Continued)

First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)

Fund Ticker	YMAR	QMAR	XMAR	YJUN	QJUN	XJUN	XJUL
Annual Expense Ratio	0.90%	0.90%	0.85%	0.90%	0.90%	0.85%	0.85%
Reporting Period Start Date	8/31/22	8/31/22	3/17/23	8/31/22	8/31/22	8/31/22	7/21/23
Reporting Period End Date	8/31/23	8/31/23	8/31/23	8/31/23	8/31/23	8/31/23	8/31/23

CAP INFORMATION:
Cap Prior to Annual Reset (pre-expenses)	20.70%	17.25%	N/A	24.20%	25.19%	14.80%	N/A
Cap Prior to Annual Reset (post-expenses)	19.80%	16.35%	N/A	23.31%	24.30%	13.95%	N/A
Reset Date (prior to 8/31/23)	3/17/23	3/17/23	3/17/23	6/17/23	6/17/23	6/17/23	7/21/23
New Cap on Annual Reset Date (pre-expenses)	24.78%	22.15%	13.01%	18.94%	20.53%	11.60%	11.22%
New Cap on Annual Reset Date (post-expenses)	23.88%	21.25%	12.16%	18.03%	19.62%	10.74%	10.37%

PERFORMANCE (Later of 8/31/22 or Inception Date, to 8/31/23):
Fund Performance (using NAVs)	16.25%	20.45%	7.69%	15.83%	20.33%	11.32%	0.42%
Fund Performance (using Market Price)	17.01%	20.67%	7.42%	16.41%	20.42%	11.46%	0.10%
Reference Asset Price Return	15.93%	26.30%	15.48%	15.93%	26.30%	13.96%	-0.40%

Fund Ticker	XAUG	YSEP	QSPT	XSEP	YDEC	QDEC	XDEC
Annual Expense Ratio	0.85%	0.90%	0.90%	0.85%	0.90%	0.90%	0.85%
Reporting Period Start Date	8/18/23	8/31/22	8/31/22	9/21/22	8/31/22	8/31/22	8/31/22
Reporting Period End Date	8/31/23	8/31/23	8/31/23	8/31/23	8/31/23	8/31/23	8/31/23

CAP INFORMATION:
Cap Prior to Annual Reset (pre-expenses)	N/A	12.93%	13.65%	N/A	10.75%	15.89%	8.58%
Cap Prior to Annual Reset (post-expenses)	N/A	12.03%	12.75%	N/A	9.85%	14.99%	7.73%
Reset Date (prior to 8/31/23)	8/18/23	9/16/22	9/16/22	9/21/22	12/16/22	12/16/22	12/16/22
New Cap on Annual Reset Date (pre-expenses)	12.32%	25.00%	27.27%	14.90%	22.87%	27.03%	15.31%
New Cap on Annual Reset Date (post-expenses)	11.48%	24.10%	26.37%	14.07%	21.97%	26.13%	14.46%

PERFORMANCE (Later of 8/31/22 or Inception Date, to 8/31/23):
Fund Performance (using NAVs)	1.52%	15.37%	21.92%	13.81%	16.80%	14.47%	14.98%
Fund Performance (using Market Price)	1.58%	15.52%	21.85%	13.81%	16.73%	14.43%	14.85%
Reference Asset Price Return	3.17%	15.93%	26.30%	16.80%	15.93%	26.30%	13.96%

Page 20

First Trust Exchange-Traded Fund VIII
Understanding Your Fund Expenses
August 31, 2023 (Unaudited)

As a shareholder of FT Cboe Vest International Equity Buffer ETF - March, FT Cboe Vest Nasdaq-100® Buffer ETF - March, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March, FT Cboe Vest International Equity Buffer ETF - June, FT Cboe Vest Nasdaq-100® Buffer ETF - June, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August, FT Cboe Vest International Equity Buffer ETF - September, FT Cboe Vest Nasdaq-100® Buffer ETF - September, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September, FT Cboe Vest International Equity Buffer ETF - December,
FT Cboe Vest Nasdaq-100® Buffer ETF - December or FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (each a “Fund” and collectively, the “Funds”), you incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, if any, and other Fund expenses. This Example is intended to help you understand your ongoing costs of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.

The Example is based on an investment of $1,000 invested at the beginning of the period (or since inception) and held through the six-month (or shorter) period ended August 31, 2023.

Actual Expenses

The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during this six-month (or shorter) period.

Hypothetical Example for Comparison Purposes

The second line in the following table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as brokerage commissions. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Beginning Account Value March 1, 2023	Ending Account Value August 31, 2023	Annualized Expense Ratio Based on the Six-Month Period	Expenses Paid During the Six-Month Period (a)
FT Cboe Vest International Equity Buffer ETF - March (YMAR)
Actual	$1,000.00	$1,062.00	0.90%	$4.68
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)
Actual	$1,000.00	$1,179.50	0.90%	$4.94
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest International Equity Buffer ETF - June (YJUN)
Actual	$1,000.00	$1,043.40	0.90%	$4.64
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)
Actual	$1,000.00	$1,185.00	0.90%	$4.96
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)
Actual	$1,000.00	$1,070.10	0.85%	$4.44
Hypothetical (5% return before expenses)	$1,000.00	$1,020.92	0.85%	$4.33

Page 21

First Trust Exchange-Traded Fund VIII
Understanding Your Fund Expenses (Continued)
August 31, 2023 (Unaudited)

	Beginning Account Value March 1, 2023	Ending Account Value August 31, 2023	Annualized Expense Ratio Based on the Six-Month Period	Expenses Paid During the Six-Month Period (a)
FT Cboe Vest International Equity Buffer ETF - September (YSEP)
Actual	$1,000.00	$1,051.50	0.90%	$4.65
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)
Actual	$1,000.00	$1,220.60	0.90%	$5.04
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)
Actual	$1,000.00	$1,080.80	0.85%	$4.46
Hypothetical (5% return before expenses)	$1,000.00	$1,020.92	0.85%	$4.33
FT Cboe Vest International Equity Buffer ETF - December (YDEC)
Actual	$1,000.00	$1,045.70	0.90%	$4.64
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)
Actual	$1,000.00	$1,158.70	0.90%	$4.90
Hypothetical (5% return before expenses)	$1,000.00	$1,020.67	0.90%	$4.58
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)
Actual	$1,000.00	$1,082.60	0.85%	$4.46
Hypothetical (5% return before expenses)	$1,000.00	$1,020.92	0.85%	$4.33

	Beginning Account Value March 17, 2023 (b)	Ending Account Value August 31, 2023	Annualized Expense Ratio Based on the Number of Days in the Period	Expenses Paid During the Period March 17, 2023 (b) to August 31, 2023 (c)
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)
Actual	$1,000.00	$1,076.90	0.85%	$4.06
Hypothetical (5% return before expenses)	$1,000.00	$1,020.92	0.85%	$4.33

	Beginning Account Value July 21, 2023 (b)	Ending Account Value August 31, 2023	Annualized Expense Ratio Based on the Number of Days in the Period	Expenses Paid During the Period July 21, 2023 (b) to August 31, 2023 (d)
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)
Actual	$1,000.00	$1,004.20	0.85%	$0.98
Hypothetical (5% return before expenses)	$1,000.00	$1,020.92	0.85%	$4.33

	Beginning Account Value August 18, 2023 (b)	Ending Account Value August 31, 2023	Annualized Expense Ratio Based on the Number of Days in the Period	Expenses Paid During the Period August 18, 2023 (b) to August 31, 2023 (e)
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)
Actual	$1,000.00	$1,015.20	0.85%	$0.33
Hypothetical (5% return before expenses)	$1,000.00	$1,020.92	0.85%	$4.33

(a)	Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over the period (March 1, 2023 through August 31, 2023), multiplied by 184/365 (to reflect the six-month period).
(b)	Inception date.
(c)	Actual expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over the period (March 17, 2023 through August 31, 2023), multiplied by 168/365. Hypothetical expenses are assumed for the most recent six-month period.

Page 22

FT Cboe Vest International Equity Buffer ETF - March (YMAR)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.9%
520,285	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$520,285
	(Cost $520,285)
	Total Investments — 0.9%	520,285
	(Cost $520,285)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 100.2%
	Call Options Purchased — 98.3%
8,373	iShares MSCI EAFE ETF	$59,892,069	$0.67	03/15/24	58,554,035
	(Cost $56,560,816)
	Put Options Purchased — 1.9%
8,373	iShares MSCI EAFE ETF	59,892,069	67.18	03/15/24	1,105,654
	(Cost $3,349,722)
	Total Purchased Options				59,659,689
	(Cost $59,910,538)
WRITTEN OPTIONS — (1.0)%
	Call Options Written — (0.3)%
(8,373 )	iShares MSCI EAFE ETF	(59,892,069 )	83.83	03/15/24	(162,866 )
	(Premiums received $457,131)
	Put Options Written — (0.7)%
(8,373 )	iShares MSCI EAFE ETF	(59,892,069 )	60.46	03/15/24	(436,144 )
	(Premiums received $1,647,880)
	Total Written Options				(599,010 )
	(Premiums received $2,105,011)
	Net Other Assets and Liabilities — (0.1)%				(41,264 )
	Net Assets — 100.0%				$59,539,700

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.9%
Purchased Options	100.2
Written Options	(1.0)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 24

FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.7%
1,325,303	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$1,325,303
	(Cost $1,325,303)
	Total Investments — 0.7%	1,325,303
	(Cost $1,325,303)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 108.8%
	Call Options Purchased — 107.7%
5,346	Invesco QQQ TrustSM, Series 1	$202,073,454	$3.05	03/15/24	200,021,314
	(Cost $165,313,170)
	Put Options Purchased — 1.1%
5,346	Invesco QQQ TrustSM, Series 1	202,073,454	305.36	03/15/24	2,014,171
	(Cost $11,627,133)
	Total Purchased Options				202,035,485
	(Cost $176,940,303)
WRITTEN OPTIONS — (9.4)%
	Call Options Written — (8.8)%
(5,346 )	Invesco QQQ TrustSM, Series 1	(202,073,454 )	373.00	03/15/24	(16,434,685 )
	(Premiums received $5,247,473)
	Put Options Written — (0.6)%
(5,346 )	Invesco QQQ TrustSM, Series 1	(202,073,454 )	274.82	03/15/24	(1,060,524 )
	(Premiums received $7,108,120)
	Total Written Options				(17,495,209 )
	(Premiums received $12,355,593)
	Net Other Assets and Liabilities — (0.1)%				(129,999 )
	Net Assets — 100.0%				$185,735,580

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.7%
Purchased Options	108.8
Written Options	(9.4)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 26

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.8%
2,167,451	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$2,167,451
	(Cost $2,167,451)
	Total Investments — 0.8%	2,167,451
	(Cost $2,167,451)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 124.3%
	Call Options Purchased — 123.2%
6,403	SPDR® S&P 500® ETF Trust	$288,359,105	$3.91	03/15/24	284,166,643
6,403	SPDR® S&P 500® ETF Trust	288,359,105	390.00	03/15/24	47,138,706
	Total Call Options Purchased				331,305,349
	(Cost $285,014,375)
	Put Options Purchased — 1.1%
6,403	SPDR® S&P 500® ETF Trust	288,359,105	390.00	03/15/24	2,889,060
	(Cost $13,542,607)
	Total Purchased Options				334,194,409
	(Cost $298,556,982)
WRITTEN OPTIONS — (25.0)%
	Call Options Written — (24.6)%
(12,806 )	SPDR® S&P 500® ETF Trust	(576,718,210 )	415.35	03/15/24	(66,141,818 )
	(Premiums received $38,721,432)
	Put Options Written — (0.4)%
(6,403 )	SPDR® S&P 500® ETF Trust	(288,359,105 )	331.50	03/15/24	(1,139,956 )
	(Premiums received $5,541,652)
	Total Written Options				(67,281,774 )
	(Premiums received $44,263,084)
	Net Other Assets and Liabilities — (0.1)%				(189,072 )
	Net Assets — 100.0%				$268,891,014

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.8%
Purchased Options	124.3
Written Options	(25.0)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 28

FT Cboe Vest International Equity Buffer ETF - June (YJUN)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 1.2%
1,349,798	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$1,349,798
	(Cost $1,349,798)
	Total Investments — 1.2%	1,349,798
	(Cost $1,349,798)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 101.8%
	Call Options Purchased — 96.0%
15,946	iShares MSCI EAFE ETF	$114,061,738	$0.73	06/21/24	109,545,664
	(Cost $113,005,895)
	Put Options Purchased — 5.8%
15,946	iShares MSCI EAFE ETF	114,061,738	73.39	06/21/24	6,605,139
	(Cost $5,858,406)
	Total Purchased Options				116,150,803
	(Cost $118,864,301)
WRITTEN OPTIONS — (2.9)%
	Call Options Written — (0.4)%
(15,946 )	iShares MSCI EAFE ETF	(114,061,738 )	87.29	06/21/24	(405,251 )
	(Premiums received $685,804)
	Put Options Written — (2.5)%
(15,946 )	iShares MSCI EAFE ETF	(114,061,738 )	66.05	06/21/24	(2,895,831 )
	(Premiums received $2,938,620)
	Total Written Options				(3,301,082 )
	(Premiums received $3,624,424)
	Net Other Assets and Liabilities — (0.1)%				(76,654 )
	Net Assets — 100.0%				$114,122,865

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	1.2%
Purchased Options	101.8
Written Options	(2.9)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 30

FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 1.0%
3,658,033	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$3,658,033
	(Cost $3,658,033)
	Total Investments — 1.0%	3,658,033
	(Cost $3,658,033)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 103.5%
	Call Options Purchased — 98.8%
9,634	Invesco QQQ TrustSM, Series 1	$364,155,566	$3.68	06/21/24	358,606,382
	(Cost $350,254,696)
	Put Options Purchased — 4.7%
9,634	Invesco QQQ TrustSM, Series 1	364,155,566	367.93	06/21/24	16,917,304
	(Cost $21,763,192)
	Total Purchased Options				375,523,686
	(Cost $372,017,888)
WRITTEN OPTIONS — (4.4)%
	Call Options Written — (1.9)%
(9,634 )	Invesco QQQ TrustSM, Series 1	(364,155,566 )	443.47	06/21/24	(7,119,526 )
	(Premiums received $7,830,328)
	Put Options Written — (2.5)%
(9,634 )	Invesco QQQ TrustSM, Series 1	(364,155,566 )	331.14	06/21/24	(8,940,352 )
	(Premiums received $12,195,212)
	Total Written Options				(16,059,878 )
	(Premiums received $20,025,540)
	Net Other Assets and Liabilities — (0.1)%				(205,415 )
	Net Assets — 100.0%				$362,916,426

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	1.0%
Purchased Options	103.5
Written Options	(4.4)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 32

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 1.0%
3,423,994	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$3,423,994
	(Cost $3,423,994)
	Total Investments — 1.0%	3,423,994
	(Cost $3,423,994)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 111.0%
	Call Options Purchased — 107.4%
7,796	SPDR® S&P 500® ETF Trust	$351,092,860	$4.40	06/21/24	342,790,120
7,796	SPDR® S&P 500® ETF Trust	351,092,860	439.47	06/21/24	31,402,288
	Total Call Options Purchased				374,192,408
	(Cost $360,776,970)
	Put Options Purchased — 3.6%
7,796	SPDR® S&P 500® ETF Trust	351,092,860	439.47	06/21/24	12,551,560
	(Cost $16,027,899)
	Total Purchased Options				386,743,968
	(Cost $376,804,869)
WRITTEN OPTIONS — (11.9)%
	Call Options Written — (10.6)%
(15,592 )	SPDR® S&P 500® ETF Trust	(702,185,720 )	464.96	06/21/24	(36,875,080 )
	(Premiums received $27,176,444)
	Put Options Written — (1.3)%
(7,796 )	SPDR® S&P 500® ETF Trust	(351,092,860 )	373.55	06/21/24	(4,669,804 )
	(Premiums received $9,835,010)
	Total Written Options				(41,544,884 )
	(Premiums received $37,011,454)
	Net Other Assets and Liabilities — (0.1)%				(222,739 )
	Net Assets — 100.0%				$348,400,339

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	1.0%
Purchased Options	111.0
Written Options	(11.9)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 34

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)
Portfolio of Investments
August 31, 2023

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 109.4%
	Call Options Purchased — 105.1%
833	SPDR® S&P 500® ETF Trust	$37,514,155	$4.53	07/19/24	$36,835,248
833	SPDR® S&P 500® ETF Trust	37,514,155	452.19	07/19/24	2,919,520
	Total Call Options Purchased				39,754,768
	(Cost $39,629,845)
	Put Options Purchased — 4.3%
833	SPDR® S&P 500® ETF Trust	37,514,155	452.19	07/19/24	1,632,141
	(Cost $1,823,024)
	Total Purchased Options				41,386,909
	(Cost $41,452,869)
WRITTEN OPTIONS — (10.4)%
	Call Options Written — (8.8)%
(1,666 )	SPDR® S&P 500® ETF Trust	(75,028,310 )	477.55	07/19/24	(3,341,564 )
	(Premiums received $3,539,246)
	Put Options Written — (1.6)%
(833 )	SPDR® S&P 500® ETF Trust	(37,514,155 )	384.36	07/19/24	(602,613 )
	(Premiums received $738,174)
	Total Written Options				(3,944,177 )
	(Premiums received $4,277,420)
	Net Other Assets and Liabilities — 1.0%				384,057
	Net Assets — 100.0%				$37,826,789

Fund Allocation	% of Net Assets
Purchased Options	109.4%
Written Options	(10.4)
Net Other Assets and Liabilities	1.0
Total	100.0%

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of August 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

ASSETS TABLE
	Total Value at 8/31/2023	Level 1 Quoted Prices	Level 2 Significant Observable Inputs	Level 3 Significant Unobservable Inputs
Purchased Options	$41,386,909	$—	$41,386,909	$—

LIABILITIES TABLE
	Total Value at 8/31/2023	Level 1 Quoted Prices	Level 2 Significant Observable Inputs	Level 3 Significant Unobservable Inputs
Written Options	$(3,944,177 )	$—	$(3,944,177 )	$—

See Notes to Financial Statements

Page 36

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)
Portfolio of Investments
August 31, 2023

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 113.8%
	Call Options Purchased — 110.0%
799	SPDR® S&P 500® ETF Trust	$35,982,965	$4.38	08/16/24	$35,144,015
799	SPDR® S&P 500® ETF Trust	35,982,965	436.51	08/16/24	3,796,049
	Total Call Options Purchased				38,940,064
	(Cost $37,910,989)
	Put Options Purchased — 3.8%
799	SPDR® S&P 500® ETF Trust	35,982,965	436.51	08/16/24	1,366,290
	(Cost $1,649,971)
	Total Purchased Options				40,306,354
	(Cost $39,560,960)
WRITTEN OPTIONS — (14.9)%
	Call Options Written — (13.4)%
1,598	SPDR® S&P 500® ETF Trust	(71,965,930 )	463.40	08/16/24	(4,733,276 )
	(Premiums received $4,178,767)
	Put Options Written — (1.5)%
799	SPDR® S&P 500® ETF Trust	(35,982,965 )	371.04	08/16/24	(551,310 )
	(Premiums received $685,773)
	Total Written Options				(5,284,586 )
	(Premiums received $4,864,540)
	Net Other Assets and Liabilities — 1.1%				378,209
	Net Assets — 100.0%				$35,399,977

Fund Allocation	% of Net Assets
Purchased Options	113.8%
Written Options	(14.9)
Net Other Assets and Liabilities	1.1
Total	100.0%

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of August 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

ASSETS TABLE
	Total Value at 8/31/2023	Level 1 Quoted Prices	Level 2 Significant Observable Inputs	Level 3 Significant Unobservable Inputs
Purchased Options	$40,306,354	$—	$40,306,354	$—

LIABILITIES TABLE
	Total Value at 8/31/2023	Level 1 Quoted Prices	Level 2 Significant Observable Inputs	Level 3 Significant Unobservable Inputs
Written Options	$(5,284,586 )	$—	$(5,284,586 )	$—

See Notes to Financial Statements

Page 37

FT Cboe Vest International Equity Buffer ETF - September (YSEP)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.4%
97,931	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$97,931
	(Cost $97,931)
	Total Investments — 0.4%	97,931
	(Cost $97,931)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 99.7%
	Call Options Purchased — 99.7%
3,343	iShares MSCI EAFE ETF	$23,912,479	$0.60	09/15/23	23,699,966
	(Cost $19,842,672)
	Put Options Purchased — 0.0%
3,343	iShares MSCI EAFE ETF	23,912,479	60.40	09/15/23	763
	(Cost $1,927,716)
	Total Purchased Options				23,700,729
	(Cost $21,770,388)
WRITTEN OPTIONS — (0.0)%
	Call Options Written — (0.0)%
(3,343 )	iShares MSCI EAFE ETF	(23,912,479 )	75.50	09/15/23	(2,292 )
	(Premiums received $105,839)
	Put Options Written — (0.0)%
(3,343 )	iShares MSCI EAFE ETF	(23,912,479 )	54.36	09/15/23	(93 )
	(Premiums received $882,589)
	Total Written Options				(2,385 )
	(Premiums received $988,428)
	Net Other Assets and Liabilities — (0.1)%				(17,385 )
	Net Assets — 100.0%				$23,778,890

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.4%
Purchased Options	99.7
Written Options	(0.0)(1)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

(1)	Amount is less than 0.1%.

See Notes to Financial Statements

Page 38

FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.3%
311,287	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$311,287
	(Cost $311,287)
	Total Investments — 0.3%	311,287
	(Cost $311,287)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 103.2%
	Call Options Purchased — 103.2%
3,022	Invesco QQQ TrustSM, Series 1	$114,228,578	$2.89	09/15/23	113,328,657
	(Cost $89,350,827)
	Put Options Purchased — 0.0%
3,022	Invesco QQQ TrustSM, Series 1	114,228,578	289.32	09/15/23	12,431
	(Cost $7,365,412)
	Total Purchased Options				113,341,088
	(Cost $96,716,239)
WRITTEN OPTIONS — (3.4)%
	Call Options Written — (3.4)%
(3,022 )	Invesco QQQ TrustSM, Series 1	(114,228,578 )	368.22	09/15/23	(3,721,949 )
	(Premiums received $2,089,221)
	Put Options Written — (0.0)%
(3,022 )	Invesco QQQ TrustSM, Series 1	(114,228,578 )	260.39	09/15/23	(3,509 )
	(Premiums received $4,230,539)
	Total Written Options				(3,725,458 )
	(Premiums received $6,319,760)
	Net Other Assets and Liabilities — (0.1)%				(78,155 )
	Net Assets — 100.0%				$109,848,762

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.3%
Purchased Options	103.2
Written Options	(3.4)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 40

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.3%
301,367	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$301,367
	(Cost $301,367)
	Total Investments — 0.3%	301,367
	(Cost $301,367)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 120.6%
	Call Options Purchased — 120.6%
2,240	SPDR® S&P 500® ETF Trust	$100,878,400	$3.77	09/15/23	99,705,563
2,240	SPDR® S&P 500® ETF Trust	100,878,400	377.39	09/15/23	16,267,159
	Total Call Options Purchased				115,972,722
	(Cost $96,445,096)
	Put Options Purchased — 0.0%
2,240	SPDR® S&P 500® ETF Trust	100,878,400	377.39	09/15/23	18,725
	(Cost $7,768,647)
	Total Purchased Options				115,991,447
	(Cost $104,213,743)
WRITTEN OPTIONS — (20.8)%
	Call Options Written — (20.8)%
(4,480 )	SPDR® S&P 500® ETF Trust	(201,756,800 )	405.51	09/15/23	(20,000,984 )
	(Premiums received $9,680,861)
	Put Options Written — (0.0)%
(2,240 )	SPDR® S&P 500® ETF Trust	(100,878,400 )	320.78	09/15/23	(5,206 )
	(Premiums received $2,270,112)
	Total Written Options				(20,006,190 )
	(Premiums received $11,950,973)
	Net Other Assets and Liabilities — (0.1)%				(67,154 )
	Net Assets — 100.0%				$96,219,470

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.3%
Purchased Options	120.6
Written Options	(20.8)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 42

FT Cboe Vest International Equity Buffer ETF - December (YDEC)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.7%
436,679	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$436,679
	(Cost $436,679)
	Total Investments — 0.7%	436,679
	(Cost $436,679)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 99.8%
	Call Options Purchased — 99.0%
8,958	iShares MSCI EAFE ETF	$64,076,574	$0.65	12/15/23	63,550,502
	(Cost $59,111,955)
	Put Options Purchased — 0.8%
8,958	iShares MSCI EAFE ETF	64,076,574	65.42	12/15/23	486,066
	(Cost $3,209,902)
	Total Purchased Options				64,036,568
	(Cost $62,321,857)
WRITTEN OPTIONS — (0.4)%
	Call Options Written — (0.1)%
(8,958 )	iShares MSCI EAFE ETF	(64,076,574 )	80.38	12/15/23	(67,398 )
	(Premiums received $826,392)
	Put Options Written — (0.3)%
(8,958 )	iShares MSCI EAFE ETF	(64,076,574 )	58.88	12/15/23	(167,558 )
	(Premiums received $1,743,885)
	Total Written Options				(234,956 )
	(Premiums received $2,570,277)
	Net Other Assets and Liabilities — (0.1)%				(46,704 )
	Net Assets — 100.0%				$64,191,587

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.7%
Purchased Options	99.8
Written Options	(0.4)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 44

FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.5%
681,039	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$681,039
	(Cost $681,039)
	Total Investments — 0.5%	681,039
	(Cost $681,039)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 111.6%
	Call Options Purchased — 111.4%
4,267	Invesco QQQ TrustSM, Series 1	$161,288,333	$2.74	12/15/23	159,906,469
	(Cost $122,332,502)
	Put Options Purchased — 0.2%
4,267	Invesco QQQ TrustSM, Series 1	161,288,333	274.25	12/15/23	287,382
	(Cost $9,527,401)
	Total Purchased Options				160,193,851
	(Cost $131,859,903)
WRITTEN OPTIONS — (12.0)%
	Call Options Written — (11.9)%
(4,267 )	Invesco QQQ TrustSM, Series 1	(161,288,333 )	348.38	12/15/23	(17,115,448 )
	(Premiums received $4,942,448)
	Put Options Written — (0.1)%
(4,267 )	Invesco QQQ TrustSM, Series 1	(161,288,333 )	246.83	12/15/23	(138,054 )
	(Premiums received $5,578,342)
	Total Written Options				(17,253,502 )
	(Premiums received $10,520,790)
	Net Other Assets and Liabilities — (0.1)%				(100,204 )
	Net Assets — 100.0%				$143,521,184

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.5%
Purchased Options	111.6
Written Options	(12.0)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 46

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)
Portfolio of Investments
August 31, 2023

Shares	Description	Value
MONEY MARKET FUNDS — 0.5%
1,871,183	Dreyfus Government Cash Management Fund, Institutional Shares - 5.21% (a)	$1,871,183
	(Cost $1,871,183)
	Total Investments — 0.5%	1,871,183
	(Cost $1,871,183)

Number of Contracts	Description	Notional Amount	Exercise Price	Expiration Date	Value
PURCHASED OPTIONS — 120.9%
	Call Options Purchased — 120.5%
8,290	SPDR® S&P 500® ETF Trust	$373,340,150	$3.84	12/15/23	368,145,177
8,290	SPDR® S&P 500® ETF Trust	373,340,150	383.28	12/15/23	60,140,262
	Total Call Options Purchased				428,285,439
	(Cost $346,700,000)
	Put Options Purchased — 0.4%
8,290	SPDR® S&P 500® ETF Trust	373,340,150	383.28	12/15/23	1,435,550
	(Cost $24,660,579)
	Total Purchased Options				429,720,989
	(Cost $371,360,579)
WRITTEN OPTIONS — (21.3)%
	Call Options Written — (21.2)%
(16,580 )	SPDR® S&P 500® ETF Trust	(746,680,300 )	412.60	12/15/23	(75,363,613 )
	(Premiums received $41,219,533)
	Put Options Written — (0.1)%
(8,290 )	SPDR® S&P 500® ETF Trust	(373,340,150 )	325.79	12/15/23	(349,307 )
	(Premiums received $10,341,123)
	Total Written Options				(75,712,920 )
	(Premiums received $51,560,656)
	Net Other Assets and Liabilities — (0.1)%				(247,227 )
	Net Assets — 100.0%				$355,632,025

(a)	Rate shown reflects yield as of August 31, 2023.

Fund Allocation	% of Net Assets
Money Market Funds	0.5%
Purchased Options	120.9
Written Options	(21.3)
Net Other Assets and Liabilities	(0.1)
Total	100.0%

See Notes to Financial Statements

Page 48

First Trust Exchange-Traded Fund VIII
Statements of Assets and Liabilities
August 31, 2023

	FT Cboe Vest International Equity Buffer ETF - March (YMAR)	FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)	FT Cboe Vest International Equity Buffer ETF - June (YJUN)
ASSETS:
Investments, at value	$520,285	$1,325,303	$2,167,451	$1,349,798
Options contracts purchased, at value	59,659,689	202,035,485	334,194,409	116,150,803
Cash	—	—	—	—
Due from broker	2,092	37	—	437
Receivables:
Dividends	2,834	6,050	10,321	5,749
Investment securities sold	—	—	—	—
Capital shares sold	—	—	—	—
Total Assets	60,184,900	203,366,875	336,372,181	117,506,787

LIABILITIES:
Options contracts written, at value	599,010	17,495,209	67,281,774	3,301,082
Payables:
Investment advisory fees	46,190	136,086	199,393	82,840
Investment securities purchased	—	—	—	—
Total Liabilities	645,200	17,631,295	67,481,167	3,383,922
NET ASSETS	$59,539,700	$185,735,580	$268,891,014	$114,122,865

NET ASSETS consist of:
Paid-in capital	$61,075,470	$168,975,002	$252,851,953	$121,311,329
Par value	28,500	76,000	84,250	56,500
Accumulated distributable earnings (loss)	(1,564,270 )	16,684,578	15,954,811	(7,244,964 )
NET ASSETS	$59,539,700	$185,735,580	$268,891,014	$114,122,865
NET ASSET VALUE, per share	$20.89	$24.44	$31.92	$20.20
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)	2,850,002	7,600,002	8,425,002	5,650,002
Investments, at cost	$520,285	$1,325,303	$2,167,451	$1,349,798
Premiums paid on options contracts purchased	$59,910,538	$176,940,303	$298,556,982	$118,864,301
Premiums received on options contracts written	$2,105,011	$12,355,593	$44,263,084	$3,624,424

See Notes to Financial Statements

Page 50

FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)	FT Cboe Vest International Equity Buffer ETF - September (YSEP)	FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)

$3,658,033	$3,423,994	$—	$—	$97,931	$311,287
375,523,686	386,743,968	41,386,909	40,306,354	23,700,729	113,341,088
—	—	406,194	376,445	—	—
305	153	—	—	280	234

15,656	14,863	—	—	451	1,783
149,795	101,176	—	112,371	—	—
3,392,211	843,733	—	753,323	—	—
382,739,686	391,127,887	41,793,103	41,548,493	23,799,391	113,654,392


16,059,878	41,544,884	3,944,177	5,284,586	2,385	3,725,458

255,038	240,038	22,137	6,282	18,116	80,172
3,508,344	942,626	—	857,648	—	—
19,823,260	42,727,548	3,966,314	6,148,516	20,501	3,805,630
$362,916,426	$348,400,339	$37,826,789	$35,399,977	$23,778,890	$109,848,762


$369,903,176	$358,925,844	$37,575,565	$35,062,879	$20,964,897	$96,532,164
160,500	103,250	12,250	11,750	12,000	50,000
(7,147,250 )	(10,628,755 )	238,974	325,348	2,801,993	13,266,598
$362,916,426	$348,400,339	$37,826,789	$35,399,977	$23,778,890	$109,848,762
$22.61	$33.74	$30.88	$30.13	$19.82	$21.97
16,050,002	10,325,002	1,225,002	1,175,002	1,200,002	5,000,002
$3,658,033	$3,423,994	$—	$—	$97,931	$311,287
$372,017,888	$376,804,869	$41,452,869	$39,560,960	$21,770,388	$96,716,239
$20,025,540	$37,011,454	$4,277,420	$4,864,540	$988,428	$6,319,760

See Notes to Financial Statements

Page 51

First Trust Exchange-Traded Fund VIII
Statements of Assets and Liabilities (Continued)
August 31, 2023

	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)	FT Cboe Vest International Equity Buffer ETF - December (YDEC)	FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)
ASSETS:
Investments, at value	$301,367	$436,679	$681,039	$1,871,183
Options contracts purchased, at value	115,991,447	64,036,568	160,193,851	429,720,989
Cash	—	—	—	—
Due from broker	—	297	5	1,417
Receivables:
Dividends	1,397	1,978	2,980	8,957
Investment securities sold	—	—	—	—
Capital shares sold	—	—	—	—
Total Assets	116,294,211	64,475,522	160,877,875	431,602,546

LIABILITIES:
Options contracts written, at value	20,006,190	234,956	17,253,502	75,712,920
Payables:
Investment advisory fees	68,551	48,979	103,189	257,601
Investment securities purchased	—	—	—	—
Total Liabilities	20,074,741	283,935	17,356,691	75,970,521
NET ASSETS	$96,219,470	$64,191,587	$143,521,184	$355,632,025

NET ASSETS consist of:
Paid-in capital	$74,404,529	$62,858,024	$140,191,518	$324,024,233
Par value	28,000	29,500	63,000	107,250
Accumulated distributable earnings (loss)	21,786,941	1,304,063	3,266,666	31,500,542
NET ASSETS	$96,219,470	$64,191,587	$143,521,184	$355,632,025
NET ASSET VALUE, per share	$34.36	$21.76	$22.78	$33.16
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)	2,800,002	2,950,002	6,300,002	10,725,002
Investments, at cost	$301,367	$436,679	$681,039	$1,871,183
Premiums paid on options contracts purchased	$104,213,743	$62,321,857	$131,859,903	$371,360,579
Premiums received on options contracts written	$11,950,973	$2,570,277	$10,520,790	$51,560,656

See Notes to Financial Statements

Page 52

First Trust Exchange-Traded Fund VIII
Statements of Operations
For the Period Ended August 31, 2023

	FT Cboe Vest International Equity Buffer ETF - March (YMAR)	FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR) (a)	FT Cboe Vest International Equity Buffer ETF - June (YJUN)
INVESTMENT INCOME:
Dividends	$14,869	$41,608	$38,128	$26,295
Total investment income	14,869	41,608	38,128	26,295

EXPENSES:
Investment advisory fees	371,917	947,145	961,103	631,013
Total expenses	371,917	947,145	961,103	631,013
NET INVESTMENT INCOME (LOSS)	(357,048 )	(905,537 )	(922,975 )	(604,718 )

NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Purchased options contracts	(1,821,517 )	(1,732,203 )	450,403	(2,059,425 )
Written options contracts	(90,304 )	(1,227,876 )	(344,088 )	235,220
In-kind redemptions - Purchased options contracts	(387,022 )	2,591,954	5,456,838	10,963,677
In-kind redemptions - Written options contracts	382,635	1,040,220	(1,323,896 )	2,804,782
Net realized gain (loss)	(1,916,208 )	672,095	4,239,257	11,944,254
Net change in unrealized appreciation (depreciation) on:
Purchased options contracts	2,911,576	29,692,394	35,637,427	(2,310,240 )
Written options contracts	2,495,031	(4,707,426 )	(23,018,690 )	119,993
Net change in unrealized appreciation (depreciation)	5,406,607	24,984,968	12,618,737	(2,190,247 )
NET REALIZED AND UNREALIZED GAIN (LOSS)	3,490,399	25,657,063	16,857,994	9,754,007
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$3,133,351	$24,751,526	$15,935,019	$9,149,289

(a)	Inception date is March 17, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Inception date is July 21, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(c)	Inception date is August 18, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.

See Notes to Financial Statements

Page 54

FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL) (b)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG) (c)	FT Cboe Vest International Equity Buffer ETF - September (YSEP)	FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)

$57,228	$60,317	$—	$—	$8,134	$21,209
57,228	60,317	—	—	8,134	21,209


1,178,618	1,514,062	23,698	6,282	228,634	683,021
1,178,618	1,514,062	23,698	6,282	228,634	683,021
(1,121,390 )	(1,453,745 )	(23,698 )	(6,282 )	(220,500 )	(661,812 )



(3,825,662 )	(4,546,350 )	(12,600 )	—	(1,258,310 )	(4,985,551 )
(2,018,713 )	(8,464,588 )	6,429	—	(732,177 )	(1,900,080 )
19,293,558	24,057,743	—	—	2,769,710	4,445,950
4,226,174	7,047,848	—	—	524,869	1,261,067
17,675,357	18,094,653	(6,171 )	—	1,304,092	(1,178,614 )

1,508,090	6,890,340	(65,960 )	745,394	2,311,131	18,989,722
3,013,185	(3,650,760 )	333,243	(420,046 )	1,622,033	3,122,570
4,521,275	3,239,580	267,283	325,348	3,933,164	22,112,292
22,196,632	21,334,233	261,112	325,348	5,237,256	20,933,678
$21,075,242	$19,880,488	$237,414	$319,066	$5,016,756	$20,271,866

See Notes to Financial Statements

Page 55

First Trust Exchange-Traded Fund VIII
Statements of Operations (Continued)
For the Period Ended August 31, 2023

	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) (d)	FT Cboe Vest International Equity Buffer ETF - December (YDEC)	FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)
INVESTMENT INCOME:
Dividends	$10,008	$13,521	$47,236	$95,358
Total investment income	10,008	13,521	47,236	95,358

EXPENSES:
Investment advisory fees	1,163,337	361,707	966,275	2,388,684
Total expenses	1,163,337	361,707	966,275	2,388,684
NET INVESTMENT INCOME (LOSS)	(1,153,329 )	(348,186 )	(919,039 )	(2,293,326 )

NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Purchased options contracts	3,563,455	(1,407,897 )	(5,107,252 )	(4,879,643 )
Written options contracts	(378,169 )	(159,905 )	(7,197,645 )	(2,770,809 )
In-kind redemptions - Purchased options contracts	12,363,144	580,372	2,408,929	10,373,149
In-kind redemptions - Written options contracts	3,666,726	299,095	110,243	7,112,298
Net realized gain (loss)	19,215,156	(688,335 )	(9,785,725 )	9,834,995
Net change in unrealized appreciation (depreciation) on:
Purchased options contracts	11,777,704	2,720,118	36,881,107	64,564,403
Written options contracts	(8,055,217 )	2,869,548	(4,240,796 )	(28,532,818 )
Net change in unrealized appreciation (depreciation)	3,722,487	5,589,666	32,640,311	36,031,585
NET REALIZED AND UNREALIZED GAIN (LOSS)	22,937,643	4,901,331	22,854,586	45,866,580
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$21,784,314	$4,553,145	$21,935,547	$43,573,254

(d)	Inception date is September 21, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established.

See Notes to Financial Statements

Page 56

First Trust Exchange-Traded Fund VIII
Statements of Changes in Net Assets

	FT Cboe Vest International Equity Buffer ETF - March (YMAR)		FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)
	Year Ended 8/31/2023	Year Ended 8/31/2022	Year Ended 8/31/2023	Year Ended 8/31/2022
OPERATIONS:
Net investment income (loss)	$(357,048 )	$(233,241 )	$(905,537 )	$(258,774 )
Net realized gain (loss)	(1,916,208 )	(637,400 )	672,095	1,977,483
Net change in unrealized appreciation (depreciation)	5,406,607	(4,402,075 )	24,984,968	(6,312,235 )
Net increase (decrease) in net assets resulting from operations	3,133,351	(5,272,716 )	24,751,526	(4,593,526 )

SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold	75,264,238	61,307,344	244,611,999	65,393,273
Cost of shares redeemed	(56,588,373 )	(30,990,709 )	(130,285,396 )	(33,026,951 )
Net increase (decrease) in net assets resulting from shareholder transactions	18,675,865	30,316,635	114,326,603	32,366,322
Total increase (decrease) in net assets	21,809,216	25,043,919	139,078,129	27,772,796

NET ASSETS:
Beginning of period	37,730,484	12,686,565	46,657,451	18,884,655
End of period	$59,539,700	$37,730,484	$185,735,580	$46,657,451

CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period	2,100,002	600,002	2,300,002	850,002
Shares sold	3,700,000	3,100,000	11,150,000	3,050,000
Shares redeemed	(2,950,000 )	(1,600,000 )	(5,850,000 )	(1,600,000 )
Shares outstanding, end of period	2,850,002	2,100,002	7,600,002	2,300,002

(a)	Inception date is March 17, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.

See Notes to Financial Statements

Page 58

First Trust Exchange-Traded Fund VIII
Statements of Changes in Net Assets (Continued)

	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)		FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)	FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)
	Year Ended 8/31/2023	Year Ended 8/31/2022	Period Ended 8/31/2023 (b)	Period Ended 8/31/2023 (c)
OPERATIONS:
Net investment income (loss)	$(1,453,745 )	$(198,462 )	$(23,698 )	$(6,282 )
Net realized gain (loss)	18,094,653	(111,477 )	(6,171 )	—
Net change in unrealized appreciation (depreciation)	3,239,580	2,096,122	267,283	325,348
Net increase (decrease) in net assets resulting from operations	19,880,488	1,786,183	237,414	319,066

SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold	410,957,170	118,349,822	38,345,887	35,080,911
Cost of shares redeemed	(193,084,376 )	(15,511,751 )	(756,512 )	—
Net increase (decrease) in net assets resulting from shareholder transactions	217,872,794	102,838,071	37,589,375	35,080,911
Total increase (decrease) in net assets	237,753,282	104,624,254	37,826,789	35,399,977

NET ASSETS:
Beginning of period	110,647,057	6,022,803	—	—
End of period	$348,400,339	$110,647,057	$37,826,789	$35,399,977

CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period	3,650,002	200,002	—	—
Shares sold	12,600,000	3,975,000	1,250,002	1,175,002
Shares redeemed	(5,925,000 )	(525,000 )	(25,000 )	—
Shares outstanding, end of period	10,325,002	3,650,002	1,225,002	1,175,002

(b)	Inception date is July 21, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(c)	Inception date is August 18, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(d)	Inception date is September 17, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(e)	Inception date is September 21, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established.

See Notes to Financial Statements

Page 60

First Trust Exchange-Traded Fund VIII
Statements of Changes in Net Assets (Continued)

	FT Cboe Vest International Equity Buffer ETF - December (YDEC)		FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)
	Year Ended 8/31/2023	Year Ended 8/31/2022	Year Ended 8/31/2023	Year Ended 8/31/2022
OPERATIONS:
Net investment income (loss)	$(348,186 )	$(109,681 )	$(919,039 )	$(739,948 )
Net realized gain (loss)	(688,335 )	431,965	(9,785,725 )	8,966,252
Net change in unrealized appreciation (depreciation)	5,589,666	(2,245,964 )	32,640,311	(19,902,035 )
Net increase (decrease) in net assets resulting from operations	4,553,145	(1,923,680 )	21,935,547	(11,675,731 )

SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold	68,547,162	25,417,773	116,741,471	110,993,722
Cost of shares redeemed	(20,085,865 )	(24,333,441 )	(66,784,994 )	(106,641,208 )
Net increase (decrease) in net assets resulting from shareholder transactions	48,461,297	1,084,332	49,956,477	4,352,514
Total increase (decrease) in net assets	53,014,442	(839,348 )	71,892,024	(7,323,217 )

NET ASSETS:
Beginning of period	11,177,145	12,016,493	71,629,160	78,952,377
End of period	$64,191,587	$11,177,145	$143,521,184	$71,629,160

CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period	600,002	550,002	3,600,002	3,500,002
Shares sold	3,350,000	1,200,000	5,950,000	4,900,000
Shares redeemed	(1,000,000 )	(1,150,000 )	(3,250,000 )	(4,800,000 )
Shares outstanding, end of period	2,950,002	600,002	6,300,002	3,600,002

(f)	Inception date is December 17, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.

See Notes to Financial Statements

Page 62

First Trust Exchange-Traded Fund VIII
Financial Highlights
For a share outstanding throughout each period

FT Cboe Vest International Equity Buffer ETF - March (YMAR)

	Year Ended August 31,		Period Ended 8/31/2021 (a)
	2023	2022	Period Ended 8/31/2021 (a)
Net asset value, beginning of period	$17.97	$21.14	$20.02
Income from investment operations:
Net investment income (loss)	(0.17 ) (b)	(0.08 )	(0.04 )
Net realized and unrealized gain (loss)	3.09	(3.09 )	1.16
Total from investment operations	2.92	(3.17 )	1.12
Net asset value, end of period	$20.89	$17.97	$21.14
Total return (c)	16.25 %	(15.00 )%	5.59 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$59,540	$37,730	$12,687
Ratio of total expenses to average net assets	0.90 %	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.86 )%	(0.89 )%	(0.90 )% (d)
Portfolio turnover rate (e)	0 %	0 %	0 %

(a)	Inception date is March 19, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 64

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)

	Year Ended August 31,		Period Ended 8/31/2021 (a)
	2023	2022	Period Ended 8/31/2021 (a)
Net asset value, beginning of period	$20.29	$22.22	$20.04
Income from investment operations:
Net investment income (loss)	(0.19 ) (b)	(0.07 )	(0.06 )
Net realized and unrealized gain (loss)	4.34	(1.86 )	2.24
Total from investment operations	4.15	(1.93 )	2.18
Net asset value, end of period	$24.44	$20.29	$22.22
Total return (c)	20.45 %	(8.69 )%	10.88 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$185,736	$46,657	$18,885
Ratio of total expenses to average net assets	0.90 %	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.86 )%	(0.89 )%	(0.90 )% (d)
Portfolio turnover rate (e)	0 %	0 %	0 %

(a)	Inception date is March 19, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 65

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout the period

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)

	Period Ended 8/31/2023 (a)
	Period Ended 8/31/2023 (a)
Net asset value, beginning of period	$29.64
Income from investment operations:
Net investment income (loss) (b)	(0.12 )
Net realized and unrealized gain (loss)	2.40
Total from investment operations	2.28
Net asset value, end of period	$31.92
Total return (c)	7.69 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$268,891
Ratio of total expenses to average net assets	0.85 % (d)
Ratio of net investment income (loss) to average net assets	(0.82 )% (d)
Portfolio turnover rate (e)	0 %

(a)	Inception date is March 17, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 66

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest International Equity Buffer ETF - June (YJUN)

	Year Ended August 31,		Period Ended 8/31/2021 (a)
	2023	2022	Period Ended 8/31/2021 (a)
Net asset value, beginning of period	$17.44	$20.44	$19.95
Income from investment operations:
Net investment income (loss)	(0.17 ) (b)	(0.07 )	(0.02 )
Net realized and unrealized gain (loss)	2.93	(2.93 )	0.51
Total from investment operations	2.76	(3.00 )	0.49
Net asset value, end of period	$20.20	$17.44	$20.44
Total return (c)	15.83 %	(14.68 )%	2.46 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$114,123	$29,654	$13,285
Ratio of total expenses to average net assets	0.90 %	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.86 )%	(0.89 )%	(0.90 )% (d)
Portfolio turnover rate (e)	0 %	0 %	0 %

(a)	Inception date is June 18, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 67

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)

	Year Ended August 31,		Period Ended 8/31/2021 (a)
	2023	2022	Period Ended 8/31/2021 (a)
Net asset value, beginning of period	$18.79	$20.96	$19.87
Income from investment operations:
Net investment income (loss)	(0.17 ) (b)	(0.05 )	(0.03 )
Net realized and unrealized gain (loss)	3.99	(2.12 )	1.12
Total from investment operations	3.82	(2.17 )	1.09
Net asset value, end of period	$22.61	$18.79	$20.96
Total return (c)	20.33 %	(10.35 )%	5.49 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$362,916	$92,048	$33,533
Ratio of total expenses to average net assets	0.90 %	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.86 )%	(0.89 )%	(0.90 )% (d)
Portfolio turnover rate (e)	0 %	0 %	0 %

(a)	Inception date is June 18, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 68

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)

	Year Ended August 31,		Period Ended 8/31/2021 (a)
	2023	2022	Period Ended 8/31/2021 (a)
Net asset value, beginning of period	$30.31	$30.11	$29.72
Income from investment operations:
Net investment income (loss)	(0.26 ) (b)	(0.03 )	(0.03 )
Net realized and unrealized gain (loss)	3.69	0.23	0.42
Total from investment operations	3.43	0.20	0.39
Net asset value, end of period	$33.74	$30.31	$30.11
Total return (c)	11.32 %	0.66 %	1.31 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$348,400	$110,647	$6,023
Ratio of total expenses to average net assets	0.85 %	0.85 %	0.85 % (d)
Ratio of net investment income (loss) to average net assets	(0.82 )%	(0.84 )%	(0.85 )% (d)
Portfolio turnover rate (e)	0 %	0 %	0 %

(a)	Inception date is July 12, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 69

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout the period

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)

	Period Ended 8/31/2023 (a)
	Period Ended 8/31/2023 (a)
Net asset value, beginning of period	$30.75
Income from investment operations:
Net investment income (loss) (b)	(0.03 )
Net realized and unrealized gain (loss)	0.16
Total from investment operations	0.13
Net asset value, end of period	$30.88
Total return (c)	0.42 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$37,827
Ratio of total expenses to average net assets	0.85 % (d)
Ratio of net investment income (loss) to average net assets	(0.85 )% (d)
Portfolio turnover rate (e)	0 %

(a)	Inception date is July 21, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 70

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout the period

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)

	Period Ended 8/31/2023 (a)
	Period Ended 8/31/2023 (a)
Net asset value, beginning of period	$29.68
Income from investment operations:
Net investment income (loss) (b)	(0.01 )
Net realized and unrealized gain (loss)	0.46
Total from investment operations	0.45
Net asset value, end of period	$30.13
Total return (c)	1.52 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$35,400
Ratio of total expenses to average net assets	0.85 % (d)
Ratio of net investment income (loss) to average net assets	(0.85 )% (d)
Portfolio turnover rate (e)	0 %

(a)	Inception date is August 18, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 71

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest International Equity Buffer ETF - September (YSEP)

	Year Ended 8/31/2023	Period Ended 8/31/2022 (a)
	Year Ended 8/31/2023	Period Ended 8/31/2022 (a)
Net asset value, beginning of period	$17.18	$19.96
Income from investment operations:
Net investment income (loss)	(0.16 ) (b)	(0.16 )
Net realized and unrealized gain (loss)	2.80	(2.62 )
Total from investment operations	2.64	(2.78 )
Net asset value, end of period	$19.82	$17.18
Total return (c)	15.37 %	(13.93 )%

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$23,779	$6,011
Ratio of total expenses to average net assets	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.87 )%	(0.90 )% (d)
Portfolio turnover rate (e)	0 %	0 %

(a)	Inception date is September 17, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 72

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)

	Year Ended 8/31/2023	Period Ended 8/31/2022 (a)
	Year Ended 8/31/2023	Period Ended 8/31/2022 (a)
Net asset value, beginning of period	$18.02	$20.19
Income from investment operations:
Net investment income (loss)	(0.17 ) (b)	(0.16 )
Net realized and unrealized gain (loss)	4.12	(2.01 )
Total from investment operations	3.95	(2.17 )
Net asset value, end of period	$21.97	$18.02
Total return (c)	21.92 %	(10.75 )%

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$109,849	$24,330
Ratio of total expenses to average net assets	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.87 )%	(0.89 )% (d)
Portfolio turnover rate (e)	0 %	0 %

(a)	Inception date is September 17, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 73

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout the period

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)

	Period Ended 8/31/2023 (a)
	Period Ended 8/31/2023 (a)
Net asset value, beginning of period	$30.19
Income from investment operations:
Net investment income (loss) (b)	(0.26 )
Net realized and unrealized gain (loss)	4.43
Total from investment operations	4.17
Net asset value, end of period	$34.36
Total return (c)	13.81 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$96,219
Ratio of total expenses to average net assets	0.85 % (d)
Ratio of net investment income (loss) to average net assets	(0.84 )% (d)
Portfolio turnover rate (e)	0 %

(a)	Inception date is September 21, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 74

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest International Equity Buffer ETF - December (YDEC)

	Year Ended August 31,		Period Ended 8/31/2021 (a)
	2023	2022	Period Ended 8/31/2021 (a)
Net asset value, beginning of period	$18.63	$21.85	$20.06
Income from investment operations:
Net investment income (loss)	(0.18 ) (b)	(0.18 )	(0.09 )
Net realized and unrealized gain (loss)	3.31	(3.04 )	1.88
Total from investment operations	3.13	(3.22 )	1.79
Net asset value, end of period	$21.76	$18.63	$21.85
Total return (c)	16.80 %	(14.74 )%	8.92 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$64,192	$11,177	$12,016
Ratio of total expenses to average net assets	0.90 %	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.87 )%	(0.90 )%	(0.90 )% (d)
Portfolio turnover rate (e)	0 %	0 %	0 %

(a)	Inception date is December 18, 2020, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 75

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)

	Year Ended August 31,		Period Ended 8/31/2021 (a)
	2023	2022	Period Ended 8/31/2021 (a)
Net asset value, beginning of period	$19.90	$22.56	$19.84
Income from investment operations:
Net investment income (loss)	(0.17 ) (b)	(0.20 )	(0.13 )
Net realized and unrealized gain (loss)	3.05	(2.46 )	2.85
Total from investment operations	2.88	(2.66 )	2.72
Net asset value, end of period	$22.78	$19.90	$22.56
Total return (c)	14.47 %	(11.79 )%	13.71 %

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$143,521	$71,629	$78,952
Ratio of total expenses to average net assets	0.90 %	0.90 %	0.90 % (d)
Ratio of net investment income (loss) to average net assets	(0.86 )%	(0.90 )%	(0.90 )% (d)
Portfolio turnover rate (e)	0 %	0 %	0 %

(a)	Inception date is December 18, 2020, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 76

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)

	Year Ended 8/31/2023	Period Ended 8/31/2022 (a)
	Year Ended 8/31/2023	Period Ended 8/31/2022 (a)
Net asset value, beginning of period	$28.84	$30.35
Income from investment operations:
Net investment income (loss)	(0.25 ) (b)	(0.10 )
Net realized and unrealized gain (loss)	4.57	(1.41 )
Total from investment operations	4.32	(1.51 )
Net asset value, end of period	$33.16	$28.84
Total return (c)	14.98 %	(4.98 )%

Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)	$355,632	$77,855
Ratio of total expenses to average net assets	0.85 %	0.85 % (d)
Ratio of net investment income (loss) to average net assets	(0.82 )%	(0.84 )% (d)
Portfolio turnover rate (e)	0 %	0 %

(a)	Inception date is December 17, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b)	Based on average shares outstanding.
(c)	Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(d)	Annualized.
(e)	Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions, derivatives and in-kind transactions.

See Notes to Financial Statements

Page 77

Notes to Financial Statements

First Trust Exchange-Traded Fund VIII
August 31, 2023

1. Organization

First Trust Exchange-Traded Fund VIII (the “Trust”) is an open-end management investment company organized as a Massachusetts business trust on February 22, 2016, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the “1940 Act”).

The Trust currently consists of sixty-nine funds that are offering shares. This report covers the fourteen funds (each a “Fund” and collectively, the “Funds”) listed below. The shares of each Fund are listed and traded on the Cboe BZX Exchange, Inc.

FT Cboe Vest International Equity Buffer ETF - March – (ticker “YMAR”)

FT Cboe Vest Nasdaq-100® Buffer ETF - March – (ticker “QMAR”)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March – (ticker “XMAR”)(1)

FT Cboe Vest International Equity Buffer ETF - June – (ticker “YJUN”)

FT Cboe Vest Nasdaq-100® Buffer ETF - June – (ticker “QJUN”)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June – (ticker “XJUN”)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July – (ticker “XJUL”)(2)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August – (ticker “XAUG”)(3)

FT Cboe Vest International Equity Buffer ETF - September – (ticker “YSEP”)

FT Cboe Vest Nasdaq-100® Buffer ETF - September – (ticker “QSPT”)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September – (ticker “XSEP”)(4)

FT Cboe Vest International Equity Buffer ETF - December – (ticker “YDEC”)

FT Cboe Vest Nasdaq-100® Buffer ETF - December – (ticker “QDEC”)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December – (ticker “XDEC”)

(1)	Commenced investment operations on March 17, 2023.
(2)	Commenced Investment operations on July 21, 2023.
(3)	Commenced investment operations on August 18, 2023.
(4)	Commenced investment operations on September 21, 2022.

Each Fund represents a separate series of shares of beneficial interest in the Trust. Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large blocks of shares known as “Creation Units.”

Each Fund is an actively managed exchange-traded fund.

The investment objective of YMAR is to seek to provide investors with returns that match the price return of the iShares MSCI EAFE ETF (the “Underlying MSCI ETF”), up to a predetermined upside cap of 24.78% (before fees and expenses) and 23.88% (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 (before fees and expenses) against the first 10% of Underlying MSCI ETF losses, over the period from March 20, 2023 to March 15, 2024. Prior to March 20, 2023, the Fund’s investment objective included an upside cap of 20.70% (before fees and expenses) and 19.80% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund's management fee) and an Outcome Period of March 21, 2022 to March 17, 2023.

The investment objective of QMAR is to seek to provide investors with returns that match the price return of the Invesco QQQ TrustSM, Series 1 (the “Underlying Invesco ETF”), up to a predetermined upside cap of 22.15% (before fees and expenses) and 21.25% (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 (before fees and expenses) against the first 10% of Underlying Invesco ETF losses, over the period from March 20, 2023 to March 15, 2024. Prior to March 20, 2023, the Fund’s investment objective included an upside cap of 17.25% (before fees and expenses) and 16.35% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of March 21, 2022 to March 17, 2023.

The investment objective of XMAR is to seek to provide investors with returns of approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (the “Underlying SPDR ETF”), up to a predetermined upside cap of 13.01% (before fees and expenses) and 12.16% (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 (before fees and expenses) against the first 15% of Underlying SPDR ETF losses, over the period from March 20, 2023 to March 15, 2024.

Page 78

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

The investment objective of YJUN is to seek to provide investors with returns that match the price return of the Underlying MSCI ETF, up to a predetermined upside cap of 18.94% (before fees and expenses) and 18.03% (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 (before fees and expenses) against the first 10% of Underlying MSCI ETF losses, over the period from June 20, 2023 to June 21, 2024. Prior to June 20, 2023, the Fund’s investment objective included an upside cap of 24.20% (before fees and expenses) and 23.31% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of June 21, 2022 to June 16, 2023.

The investment objective of QJUN is to seek to provide investors with returns that match the price return of the Underlying Invesco ETF, up to a predetermined upside cap of 20.53% (before fees and expenses) and 19.62% (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 (before fees and expenses) against the first 10% of Underlying Invesco ETF losses, over the period from June 20, 2023 to June 21, 2024. Prior to June 20, 2023, the Fund’s investment objective included an upside cap of 25.19% (before fees and expenses) and 24.30% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of June 21, 2022 to June 16, 2023.

The investment objective of XJUN is to seek to provide investors with returns of approximately twice any positive price return of the Underlying SPDR ETF, up to a predetermined upside cap of 11.60% (before fees and expenses) and 10.74% (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 (before fees and expenses) against the first 15% of Underlying SPDR ETF losses, over the period from June 20, 2023 to June 21, 2024. Prior to June 20, 2023, the Fund’s investment objective included an upside cap of 14.80% (before fees and expenses) and 13.95% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of June 21, 2022 to June 16, 2023.

The investment objective of XJUL is to seek to provide investors with returns of approximately twice any positive price return of the Underlying SPDR ETF, up to a predetermined upside cap of 11.22% (before fees and expenses) and 10.37% (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 (before fees and expenses) against the first 15% of Underlying SPDR ETF losses, over the period from July 24, 2023 through July 19, 2024.

The investment objective of XAUG is to seek to provide investors with returns of approximately twice any positive price return of the Underlying SPDR ETF, up to a predetermined upside cap of 12.32% (before fees and expenses) and 11.48% (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 (before fees and expenses) against the first 15% of Underlying SPDR ETF losses, over the period from August 21, 2023 through August 16, 2024.

The investment objective of YSEP is to seek to provide investors with returns that match the price return of the Underlying MSCI ETF, up to a predetermined upside cap of 25.00% (before fees, expenses and taxes) and 24.10% (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 the first 10% (before fees, expenses and taxes) of Underlying MSCI ETF losses, over the period from September 19, 2022 through September 15, 2023. Prior to September 19, 2022, the Fund’s investment objective included an upside cap of 12.93% (before fees, expenses and taxes) and 12.03% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of September 20, 2021 to September 16, 2022.

The investment objective of QSPT is to seek to provide investors with returns that match the price return of the Underlying Invesco ETF, up to a predetermined upside cap of 27.27% (before fees, expenses and taxes) and 26.37% (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 the first 10% (before fees, expenses and taxes) of Underlying Invesco ETF losses, over the period from September 19, 2022 through September 15, 2023. Prior to September 19, 2022, the Fund’s investment objective included an upside cap of 13.65% (before fees, expenses and taxes) and 12.75% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of September 20, 2021 to September 16, 2022.

The investment objective of XSEP is to seek to provide investors with returns of approximately twice any positive price return of the Underlying SPDR ETF, up to a predetermined upside cap of 14.90% (before fees and expenses) and 14.07% (after fees and expenses,

Page 79

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee), while providing a buffer (before fees and expenses) against the first 15% of Underlying SPDR ETF losses, over the period from September 22, 2022 through September 15, 2023.

The investment objective of YDEC is to seek to provide investors with returns that match the price return of the Underlying MSCI ETF, up to a predetermined upside cap of 22.87% (before fees and expenses) and 21.97% (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 (before fees and expenses) against the first 10% of Underlying MSCI ETF losses, over the period from December 19, 2022 to December 15, 2023. Prior to December 19, 2022, the Fund’s investment objective included an upside cap of 10.75% (before fees and expenses) and 9.85% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of December 20, 2021 to December 16, 2022.

The investment objective of QDEC is to seek to provide investors with returns that match the price return of the Underlying Invesco ETF, up to a predetermined upside cap of 27.03% (before fees and expenses) and 26.13% (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 (before fees and expenses) against the first 10% of Underlying Invesco ETF losses, over the period from December 19, 2022 to December 15, 2023. Prior to December 19, 2022, the Fund’s investment objective included an upside cap of 15.89% (before fees and expenses) and 14.99% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of December 20, 2021 to December 16, 2022.

The investment objective of XDEC is to seek to provide investors with returns of approximately twice any positive price return of the Underlying SPDR ETF, up to a predetermined upside cap of 15.31% (before fees, expenses and taxes) and 14.46% (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 the first 15% (before fees, expenses and taxes) of Underlying SPDR ETF losses, over the period from December 19, 2022 to December 15, 2023. Prior to December 19, 2022, the Fund’s investment objective included an upside cap of 8.58% (before fees, expenses and taxes) and 7.73% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of December 20, 2021 to December 16, 2022.

Under normal market conditions, each Fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance that match those of a specified reference ETF, either the SPDR® S&P 500® ETF Trust, the Invesco QQQ TrustSM, Series 1, or the iShares MSCI EAFE ETF (the “Underlying ETF”).

2. Significant Accounting Policies

The Funds are each considered an investment company and follow accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, “Financial Services-Investment Companies.” The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

A. Portfolio Valuation

Each Fund’s NAV is determined daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Each Fund’s NAV is calculated by dividing the value of all assets of each Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.

Each Fund’s investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent readily available market quotations such as last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered market value prices and are either obtained from a third-party pricing service or are determined by the Pricing Committee of the Funds’ investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), in accordance with valuation procedures approved by the Trust’s Board of Trustees, and in accordance with provisions of the 1940 Act and rules

Page 80

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

thereunder. Investments valued by the Advisor’s Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments. Each Fund’s investments are valued as follows:

Exchange-traded options contracts (other than FLEX Option contracts) are valued at the closing price in the market where such contracts are principally traded. If no closing price is available, exchange-traded options contracts are fair valued at the mean of their most recent bid and ask price, if both are available. Over-the-counter options contracts are valued as follows, depending on the market in which the instrument trades: (1) the mean of their most recent bid and ask price, if available; or (2) a price based on the equivalent exchange-traded option. FLEX Option contracts are normally valued using a model-based price provided by a third-party pricing vendor. On days when a trade in a FLEX Option contract occurs, the trade price will be used to value such FLEX Option contracts in lieu of the model price.

Common stocks and other equity securities listed on any national or foreign exchange (excluding The Nasdaq Stock Market LLC (“Nasdaq”) and the London Stock Exchange Alternative Investment Market (“AIM”)) are valued at the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing the primary exchange for such securities.

Shares of open-end funds are valued based on NAV per share.

Certain securities may not be able to be priced by pre-established pricing methods. Such securities may be valued by the Advisor’s Pricing Committee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a third-party pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market or fair value price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund’s NAV or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not reflect the security’s fair value. As a general principle, the current fair value of a security would appear to be the amount which the owner might reasonably expect to receive for the security upon its current sale. When fair value prices are used, generally they will differ from market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining the fair value of such securities, including, but not limited to, the following:

the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price;

the type of security;

the size of the holding;

the initial cost of the security;

transactions in comparable securities;

price quotes from dealers and/or third-party pricing services;

relationships among various securities;

information obtained by contacting the issuer, analysts, or the appropriate stock exchange;

an analysis of the issuer’s financial statements;

10)

the existence of merger proposals or tender offers that might affect the value of the security; and

11)

other relevant factors.

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following:

o Quoted prices for similar investments in active markets.

o Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly.

Page 81

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

o Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates).

o Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

• Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. A summary of the inputs used to value each Fund’s investments as of August 31, 2023, is included with each Fund’s Portfolio of Investments.

B. Securities Transactions and Investment Income

Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recorded on the ex-dividend date.

C. FLEX Options

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. FLEX Options are guaranteed for settlement by the Options Clearing Corporation.

Each Fund purchases and sells call and put FLEX Options based on the performance of the Underlying ETF. The FLEX Options that each Fund holds that reference the Underlying ETF will give each Fund the right to receive or deliver shares of the Underlying ETF on the option expiration date at a strike price, depending on whether the option is a put or call option and whether each Fund purchases or sells the option. The FLEX Options held by each Fund are European style options, which are exercisable at the strike price only on the FLEX Option expiration date. All options held by each Fund at August 31, 2023 are FLEX Options.

D. Dividends and Distributions to Shareholders

Dividends from net investment income of each Fund, if any, are declared and paid annually, or as the Board of Trustees may determine from time to time. Distributions of net realized gains earned by each Fund, if any, are distributed at least annually. A Fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

Distributions from net investment income and realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These permanent differences are primarily due to the varying treatment of income and gain/loss on significantly modified portfolio securities held by the Funds and have no impact on net assets or NAV per share. Temporary differences, which arise from recognizing certain items of income, expense and gain/loss in different periods for financial statement and tax purposes, will reverse at some time in the future. During their applicable taxable periods, none of the Funds paid a distribution in 2022 or 2023.

Page 82

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

As of the applicable taxable year end, the components of distributable earnings on a tax basis for each Fund were as follows:

	Taxable Year-End	Undistributed Ordinary Income	Accumulated Capital and Other Gain (Loss)	Net Unrealized Appreciation (Depreciation)
FT Cboe Vest International Equity Buffer ETF - March	31-Mar-23	$(50,002 )	$(3,732,033 )	$1,610,323
FT Cboe Vest Nasdaq-100® Buffer ETF - March	31-Mar-23	(95,225 )	(6,157,378 )	2,646,897
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	31-Mar-23	—	—	1,647,629
FT Cboe Vest International Equity Buffer ETF - June	30-Jun-23	(314,914 )	(4,725,425 )	(1,344,714 )
FT Cboe Vest Nasdaq-100® Buffer ETF - June	30-Jun-23	(403,878 )	(14,137,138 )	1,990,812
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June	30-Jun-23	(636,566 )	(15,440,201 )	1,891,089
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July	31-Jul-23	—	—	68,756
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August	31-Aug-23	—	—	325,348
FT Cboe Vest International Equity Buffer ETF - September	30-Sep-22	(51,046 )	(2,270,671 )	(392,925 )
FT Cboe Vest Nasdaq-100® Buffer ETF - September	30-Sep-22	(172,443 )	(7,397,785 )	(1,627,993 )
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	30-Sep-22	—	—	(228,367 )
FT Cboe Vest International Equity Buffer ETF - December	31-Dec-22	—	(2,555,618 )	30,120
FT Cboe Vest Nasdaq-100® Buffer ETF - December	31-Dec-22	—	(23,321,603 )	(1,176,263 )
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	31-Dec-22	—	(9,920,350 )	1,052,234

E. Income Taxes

Each Fund intends to qualify or continue to qualify as a regulated investment company by complying with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended, which includes distributing substantially all of its net investment income and net realized gains to shareholders. Accordingly, no provision has been made for federal and state income taxes. However, due to the timing and amount of distributions, each Fund may be subject to an excise tax of 4% of the amount by which approximately 98% of each Fund’s taxable income exceeds the distributions from such taxable income for the calendar year.

The Funds are subject to accounting standards that establish a minimum threshold for recognizing, and a system for measuring, the benefits of a tax position taken or expected to be taken in a tax return. The taxable years ended 2021, 2022, and 2023 remain open to federal and state audit for all Funds except for XMAR, XJUL, XAUG and XSEP. For XMAR, XJUL, XAUG and XSEP, the taxable year ended 2023 remains open for federal and state audit. As of August 31, 2023, management has evaluated the application of these standards to the Funds and has determined that no provision for income tax is required in the Funds’ financial statements for uncertain tax positions.

Each Fund intends to utilize provisions of the federal income tax laws, which allow it to carry a realized capital loss forward indefinitely following the year of the loss and offset such loss against any future realized capital gains. Each Fund is subject to certain limitations under U.S. tax rules on the use of capital loss carryforwards and net unrealized built-in losses. These limitations apply when there has been a 50% change in ownership. At each Fund’s applicable taxable year end, for federal income tax purposes, each applicable Fund had a capital loss carryforward available that is shown in the following table, to the extent provided by regulations, to offset future capital gains. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to each applicable Fund’s shareholders.

	Taxable Year End	Non-Expiring Capital Loss Carryforwards
FT Cboe Vest International Equity Buffer ETF - March	31-Mar-23	$3,732,033

Page 83

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

	Taxable Year End	Non-Expiring Capital Loss Carryforwards
FT Cboe Vest Nasdaq-100® Buffer ETF - March	31-Mar-23	$6,157,378
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	31-Mar-23	—
FT Cboe Vest International Equity Buffer ETF - June	30-Jun-23	4,725,425
FT Cboe Vest Nasdaq-100® Buffer ETF - June	30-Jun-23	14,137,138
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June	30-Jun-23	15,440,201
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July	31-Jul-23	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August	31-Aug-23	—
FT Cboe Vest International Equity Buffer ETF - September	30-Sep-22	2,270,671
FT Cboe Vest Nasdaq-100® Buffer ETF - September	30-Sep-22	7,397,785
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	30-Sep-22	—
FT Cboe Vest International Equity Buffer ETF - December	31-Dec-22	2,555,618
FT Cboe Vest Nasdaq-100® Buffer ETF - December	31-Dec-22	23,321,603
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	31-Dec-22	9,920,350

Certain losses realized during the current taxable year may be deferred and treated as occurring on the first day of the following taxable year for federal income tax purposes. At each Fund’s applicable taxable year end, the following Funds listed below incurred and elected to defer net late year ordinary or capital losses as follows:

	Taxable Year End	Qualified Late Year Losses
	Taxable Year End	Ordinary Losses	Capital Losses
FT Cboe Vest International Equity Buffer ETF - March	31-Mar-23	$50,002	$—
FT Cboe Vest Nasdaq-100® Buffer ETF - March	31-Mar-23	95,225	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	31-Mar-23	—	—
FT Cboe Vest International Equity Buffer ETF - June	30-Jun-23	314,914	—
FT Cboe Vest Nasdaq-100® Buffer ETF - June	30-Jun-23	403,878	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June	30-Jun-23	636,566	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July	31-Jul-23	—	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August	31-Aug-23	—	—
FT Cboe Vest International Equity Buffer ETF - September	30-Sep-22	51,046	—
FT Cboe Vest Nasdaq-100® Buffer ETF - September	30-Sep-22	172,443	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	30-Sep-22	—	—
FT Cboe Vest International Equity Buffer ETF - December	31-Dec-22	—	—
FT Cboe Vest Nasdaq-100® Buffer ETF - December	31-Dec-22	—	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	31-Dec-22	—	—

In order to present paid-in capital and accumulated distributable earnings (loss) (which consists of accumulated net investment income (loss), accumulated net realized gain (loss) on investments and net unrealized appreciation (depreciation) on investments) on the Statements of Assets and Liabilities that more closely represent their tax character, certain adjustments have been made to paid-in capital, accumulated net investment income (loss) and accumulated net realized gain (loss) on investments. These adjustments are primarily due to the difference between book and tax treatments of income and gains on various investment securities held by the Funds and in-kind transactions. The results of operations and net assets were not affected by these adjustments. For each Fund’s applicable taxable period, the adjustments were as follows:

	Taxable Year End	Accumulated Net Investment Income (Loss)	Accumulated Net Realized Gain (Loss) on Investments	Paid-In Capital
FT Cboe Vest International Equity Buffer ETF - March	31-Mar-23	$269,703	$1,140,515	$(1,410,218 )
FT Cboe Vest Nasdaq-100® Buffer ETF - March	31-Mar-23	336,916	(3,336,667 )	2,999,751
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	31-Mar-23	19,792	—	(19,792 )
FT Cboe Vest International Equity Buffer ETF - June	30-Jun-23	239,694	(13,424,267 )	13,184,573

Page 84

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

	Taxable Year End	Accumulated Net Investment Income (Loss)	Accumulated Net Realized Gain (Loss) on Investments	Paid-In Capital
FT Cboe Vest Nasdaq-100® Buffer ETF - June	30-Jun-23	$526,144	$(23,228,078 )	$22,701,934
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June	30-Jun-23	570,114	(30,634,221 )	30,064,107
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July	31-Jul-23	1,560	—	(1,560 )
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August	31-Aug-23	6,282	—	(6,282 )
FT Cboe Vest International Equity Buffer ETF - September	30-Sep-22	8,576	(1,122,868 )	1,114,292
FT Cboe Vest Nasdaq-100® Buffer ETF - September	30-Sep-22	55,642	(4,352,048 )	4,296,406
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	30-Sep-22	2,627	—	(2,627 )
FT Cboe Vest International Equity Buffer ETF - December	31-Dec-22	112,174	(1,055,025 )	942,851
FT Cboe Vest Nasdaq-100® Buffer ETF - December	31-Dec-22	717,138	560,572	(1,277,710 )
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	31-Dec-22	544,650	(10,470,459 )	9,925,809

As of August 31, 2023, the aggregate cost, gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation/(depreciation) on investments (including short positions and derivatives, if any) for federal income tax purposes were as follows:

	Tax Cost	Gross Unrealized Appreciation	Gross Unrealized (Depreciation)	Net Unrealized Appreciation (Depreciation)
FT Cboe Vest International Equity Buffer ETF - March	$58,325,812	$3,734,009	$(2,478,857 )	$1,255,152
FT Cboe Vest Nasdaq-100® Buffer ETF - March	165,910,013	40,755,740	(20,800,174 )	19,955,566
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	256,594,008	50,563,533	(38,077,455 )	12,486,078
FT Cboe Vest International Equity Buffer ETF - June	116,589,675	1,217,055	(3,607,211 )	(2,390,156 )
FT Cboe Vest Nasdaq-100® Buffer ETF - June	355,650,381	12,922,070	(5,450,610 )	7,471,460
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June	343,217,409	19,448,908	(14,043,239 )	5,405,669
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July	37,181,621	823,110	(561,999 )	261,111
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August	34,696,420	1,163,538	(838,190 )	325,348
FT Cboe Vest International Equity Buffer ETF - September	20,890,252	4,835,565	(1,929,542 )	2,906,023
FT Cboe Vest Nasdaq-100® Buffer ETF - September	90,708,705	28,314,476	(9,096,264 )	19,218,212
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	93,169,720	21,199,770	(18,082,866 )	3,116,904
FT Cboe Vest International Equity Buffer ETF - December	60,191,524	6,777,811	(2,731,044 )	4,046,767
FT Cboe Vest Nasdaq-100® Buffer ETF - December	122,020,741	43,173,311	(21,572,664 )	21,600,647
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	321,673,255	91,575,457	(57,369,460 )	34,205,997

F. Expenses

Expenses, other than the investment advisory fee and other excluded expenses, are paid by the Advisor (see Note 3).

Page 85

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

3. Investment Advisory Fee, Affiliated Transactions and Other Fee Arrangements

First Trust, the investment advisor to the Funds, is a limited partnership with one limited partner, Grace Partners of DuPage L.P., and one general partner, The Charger Corporation. The Charger Corporation is an Illinois corporation controlled by James A. Bowen, Chief Executive Officer of First Trust. First Trust is responsible for the ongoing monitoring of the securities in each Fund’s portfolio, managing the Funds’ business affairs and providing certain administrative services necessary for the management of the Funds.

First Trust is paid an annual unitary management fee based on a percentage of each Fund’s average daily net assets. Effective November 1, 2022, the annual unitary management fee payable by each Fund, with the exception of XMAR, XJUN, XJUL, XAUG, XSEP and XDEC, to First Trust for these services will be reduced at certain levels of each Fund’s net assets (“breakpoints”) and calculated pursuant to the following schedule:

Breakpoints
Fund net assets up to and including $2.5 billion	0.9000 %
Fund net assets greater than $2.5 billion up to and including $5 billion	0.8775 %
Fund net assets greater than $5 billion up to and including $7.5 billion	0.8550 %
Fund net assets greater than $7.5 billion up to and including $10 billion	0.8325 %
Fund net assets greater than $10 billion	0.8100 %

For XMAR, XJUN, XJUL, XAUG, XSEP and XDEC, the annual unitary management fee payable by each Fund will be calculated pursuant to the following schedule:

Breakpoints
Fund net assets up to and including $2.5 billion	0.85000 %
Fund net assets greater than $2.5 billion up to and including $5 billion	0.82875 %
Fund net assets greater than $5 billion up to and including $7.5 billion	0.80750 %
Fund net assets greater than $7.5 billion up to and including $10 billion	0.78625 %
Fund net assets greater than $10 billion	0.76500 %

Prior to November 1, 2022, First Trust was paid an annual unitary management fee of 0.90% of each Fund’s average daily net assets, with the exception of XJUN, XSEP and XDEC, which paid an annual unitary management fee of 0.85%.

First Trust and Cboe VestSM Financial LLC (“Cboe Vest”), an affiliate of First Trust, are responsible for each Fund’s expenses, including the cost of transfer agency, sub-advisory, custody, fund administration, legal, audit and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, acquired fund fees and expenses, if any, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees payable pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses.

Cboe Vest serves as the Funds’ sub-advisor and manages each Fund’s portfolio subject to First Trust’s supervision. Pursuant to the Investment Management Agreement, between the Trust, on behalf of the Funds, and the Advisor, and the Investment Sub-Advisory Agreement among the Trust, on behalf of the Funds, the Advisor and Cboe Vest, First Trust will supervise Cboe Vest and its management of the investment of each Fund’s assets and will pay Cboe Vest for its services as the Funds’ sub-advisor a sub-advisory fee equal to 50% of any remaining monthly unitary management fee paid to the Advisor, after the average Fund’s expenses accrued during the most recent twelve months are subtracted from the unitary management fee for that month. During any period in which the Advisor’s management fee is reduced in accordance with the breakpoints described above, the investment sub-advisory fee (which is based on the Advisor’s management fee) paid to Cboe Vest will be reduced to reflect the reduction in the Advisor’s management fee.

The Trust has multiple service agreements with The Bank of New York Mellon (“BNYM”). Under the service agreements, BNYM performs custodial, fund accounting, certain administrative services, and transfer agency services for each Fund. As custodian, BNYM is responsible for custody of each Fund’s assets. As fund accountant and administrator, BNYM is responsible for maintaining the books and records of each Fund’s securities and cash. As transfer agent, BNYM is responsible for maintaining shareholder records for each Fund. BNYM is a subsidiary of The Bank of New York Mellon Corporation, a financial holding company.

Each Trustee who is not an officer or employee of First Trust, any sub-advisor or any of their affiliates (“Independent Trustees”) is paid a fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also paid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a target outcome fund or an index fund.

Page 86

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

Additionally, the Lead Independent Trustee and the Chairs of the Audit Committee, Nominating and Governance Committee and Valuation Committee are paid annual fees to serve in such capacities, with such compensation allocated pro rata among each fund in the First Trust Fund Complex based on net assets. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The Lead Independent Trustee and Committee Chairs rotate every three years. The officers and “Interested” Trustee receive no compensation from the Trust for acting in such capacities.

4. Purchases and Sales of Securities

For the fiscal period ended August 31, 2023, the Funds had no purchases or sales of investments, excluding short-term investments and in-kind transactions. Each Fund holds options for a target outcome period of approximately one year based on the expiration date of the options, which occurs on the third Friday of the month corresponding to the month in each Fund name. For securities transactions purposes, the options are considered short-term investments.

For the fiscal period ended August 31, 2023, the cost of in-kind purchases and proceeds from in-kind sales for each Fund were as follows:

	Purchases	Sales
FT Cboe Vest International Equity Buffer ETF - March	$—	$46,348,586
FT Cboe Vest Nasdaq-100® Buffer ETF - March	—	51,574,165
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	—	29,753,144
FT Cboe Vest International Equity Buffer ETF - June	—	76,914,342
FT Cboe Vest Nasdaq-100® Buffer ETF - June	8,644,080	85,647,048
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June	—	137,151,076
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July	—	—
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August	—	—
FT Cboe Vest International Equity Buffer ETF - September	—	13,716,967
FT Cboe Vest Nasdaq-100® Buffer ETF - September	—	30,029,096
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	—	89,151,043
FT Cboe Vest International Equity Buffer ETF - December	—	15,930,380
FT Cboe Vest Nasdaq-100® Buffer ETF - December	5,631,760	16,615,874
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	—	159,965,579

5. Derivative Transactions

The following table presents the types of derivatives held by each Fund at August 31, 2023, the primary underlying risk exposure and the location of these instruments as presented on the Statements of Assets and Liabilities.

		Asset Derivatives		Liability Derivatives
Derivative Instrument	Risk Exposure	Statements of Assets and Liabilities Location	Value	Statements of Assets and Liabilities Location	Value
YMAR
Options contracts	Equity Risk	Options contracts purchased, at value	$59,659,689	Options contracts written, at value	$599,010
QMAR
Options contracts	Equity Risk	Options contracts purchased, at value	202,035,485	Options contracts written, at value	17,495,209
XMAR
Options contracts	Equity Risk	Options contracts purchased, at value	334,194,409	Options contracts written, at value	67,281,774
YJUN
Options contracts	Equity Risk	Options contracts purchased, at value	116,150,803	Options contracts written, at value	3,301,082
QJUN
Options contracts	Equity Risk	Options contracts purchased, at value	375,523,686	Options contracts written, at value	16,059,878

Page 87

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

		Asset Derivatives		Liability Derivatives
Derivative Instrument	Risk Exposure	Statements of Assets and Liabilities Location	Value	Statements of Assets and Liabilities Location	Value
XJUN
Options contracts	Equity Risk	Options contracts purchased, at value	$386,743,968	Options contracts written, at value	$41,544,884
XJUL
Options contracts	Equity Risk	Options contracts purchased, at value	41,386,909	Options contracts written, at value	3,944,177
XAUG
Options contracts	Equity Risk	Options contracts purchased, at value	40,306,354	Options contracts written, at value	5,284,586
YSEP
Options contracts	Equity Risk	Options contracts purchased, at value	23,700,729	Options contracts written, at value	2,385
QSPT
Options contracts	Equity Risk	Options contracts purchased, at value	113,341,088	Options contracts written, at value	3,725,458
XSEP
Options contracts	Equity Risk	Options contracts purchased, at value	115,991,447	Options contracts written, at value	20,006,190
YDEC
Options contracts	Equity Risk	Options contracts purchased, at value	64,036,568	Options contracts written, at value	234,956
QDEC
Options contracts	Equity Risk	Options contracts purchased, at value	160,193,851	Options contracts written, at value	17,253,502
XDEC
Options contracts	Equity Risk	Options contracts purchased, at value	429,720,989	Options contracts written, at value	75,712,920

The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized for the fiscal period ended August 31, 2023, on each Fund’s derivative instruments, as well as the primary underlying risk exposure associated with the instruments.


Statements of Operations Location	YMAR	QMAR	XMAR	YJUN	QJUN
Equity Risk Exposure
Net realized gain (loss) on:
Purchased options contracts	$(2,208,539 )	$859,751	$5,907,241	$8,904,252	$15,467,896
Written options contracts	292,331	(187,656 )	(1,667,984 )	3,040,002	2,207,461
Net change in unrealized appreciation (depreciation) on:
Purchased options contracts	2,911,576	29,692,394	35,637,427	(2,310,240 )	1,508,090
Written options contracts	2,495,031	(4,707,426 )	(23,018,690 )	119,993	3,013,185


Statements of Operations Location	XJUN	XJUL	XAUG	YSEP	QSPT
Equity Risk Exposure
Net realized gain (loss) on:
Purchased options contracts	$19,511,393	$(12,600 )	$—	$1,511,400	$(539,601 )
Written options contracts	(1,416,740 )	6,429	—	(207,308 )	(639,013 )

Page 88

Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023


Statements of Operations Location	XJUN	XJUL	XAUG	YSEP	QSPT
Net change in unrealized appreciation (depreciation) on:
Purchased options contracts	$6,890,340	$(65,960 )	$745,394	$2,311,131	$18,989,722
Written options contracts	(3,650,760 )	333,243	(420,046 )	1,622,033	3,122,570


Statements of Operations Location	XSEP	YDEC	QDEC	XDEC
Equity Risk Exposure
Net realized gain (loss) on:
Purchased options contracts	$15,926,599	$(827,525 )	$(2,698,323 )	$5,493,506
Written options contracts	3,288,557	139,190	(7,087,402 )	4,341,489
Net change in unrealized appreciation (depreciation) on:
Purchased options contracts	11,777,704	2,720,118	36,881,107	64,564,403
Written options contracts	(8,055,217 )	2,869,548	(4,240,796 )	(28,532,818 )

The Funds do not have the right to offset financial assets and financial liabilities related to options contracts on the Statements of Assets and Liabilities.

The following table presents the premiums for purchased options contracts opened, premiums for purchased options contracts closed, exercised and expired, premiums for written options contracts opened, and premiums for written options contracts closed, exercised and expired, for the fiscal period ended August 31, 2023, on each Fund’s options contracts.

	Premiums for purchased options contracts opened	Premiums for purchased options contracts closed, exercised and expired	Premiums for written options contracts opened	Premiums for written options contracts closed, exercised and expired
YMAR	$100,922,469	$84,960,122	$2,887,215	$3,212,288
QMAR	296,463,896	175,094,560	20,114,545	12,041,463
XMAR	351,781,144	53,224,162	54,121,768	9,858,684
YJUN	230,847,110	143,105,095	5,764,966	3,743,721
QJUN	510,341,308	235,614,959	27,425,588	16,449,908
XJUN	594,634,866	349,179,594	70,932,651	57,749,874
XJUL	42,284,371	831,502	4,354,465	77,045
XAUG	39,560,960	—	4,864,540	—
YSEP	37,586,234	23,104,950	2,760,445	2,061,988
QSPT	146,185,729	78,779,787	10,604,601	6,450,963
XSEP	242,349,729	138,135,986	35,860,387	23,909,414
YDEC	84,151,175	35,189,695	3,512,160	1,669,476
QDEC	185,299,086	143,498,480	15,097,513	12,435,067
XDEC	632,304,823	347,814,867	68,500,371	24,606,106

6. Creations, Redemptions and Transaction Fees

Each Fund generally issues and redeems its shares in primary market transactions through a creation and redemption mechanism and does not sell or redeem individual shares. Instead, financial entities known as “Authorized Participants” have contractual arrangements with a Fund or one of the Fund’s service providers to purchase and redeem Fund shares directly with the Fund in large blocks of shares known as “Creation Units.” Prior to the start of trading on every business day, a Fund publishes through the National Securities Clearing Corporation the “basket” of securities, cash or other assets that it will accept in exchange for a Creation Unit of the Fund’s shares. An Authorized Participant that wishes to effectuate a creation of a Fund’s shares deposits with the Fund the “basket” of securities, cash or other assets identified by the Fund that day, and then receives the Creation Unit of the Fund’s shares in return for those assets. After purchasing a Creation Unit, the Authorized Participant may continue to hold the Fund’s shares or sell them in the secondary market. The redemption process is the reverse of the purchase process:the Authorized Participant redeems a Creation Unit of a Fund’s shares for a basket of securities, cash or other assets. The combination of the creation and redemption process with

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Notes to Financial Statements (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023

secondary market trading in a Fund’s shares and underlying securities provides arbitrage opportunities that are designed to help keep the market price of a Fund’s shares at or close to the NAV per share of the Fund.

Each Fund imposes fees in connection with the purchase of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, plus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the creation basket.

Each Fund also imposes fees in connection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant to effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption fee charged by a Fund will comply with Rule 22c-2 of the 1940 Act which limits redemption fees to no more than 2% of the value of the shares redeemed.

7. Distribution Plan

The Board of Trustees adopted a Distribution and Service Plan pursuant to Rule 12b-1 under the 1940 Act. In accordance with the Rule 12b-1 plan, the Funds are authorized to pay an amount up to 0.25% of their average daily net assets each year to reimburse First Trust Portfolios L.P. (“FTP”), the distributor of the Funds, for amounts expended to finance activities primarily intended to result in the sale of Creation Units or the provision of investor services. FTP may also use this amount to compensate securities dealers or other persons that are Authorized Participants for providing distribution assistance, including broker-dealer and shareholder support and educational and promotional services.

No 12b-1 fees are currently paid by the Funds, and pursuant to a contractual arrangement, no 12b-1 fees will be paid any time before December 31, 2024 for YMAR, QMAR, YJUN, QJUN, XJUN, YSEP, QSPT, XSEP, YDEC, QDEC and XDEC, March 10, 2025 for XMAR, July 21, 2025 for XJUL, and August 18, 2025 for XAUG.

8. Indemnification

The Trust, on behalf of the Funds, has a variety of indemnification obligations under contracts with its service providers. The Trust’s maximum exposure under these arrangements is unknown. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

9. Subsequent Events

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were the following subsequent events:

As of September 18, 2023, the investment objective of the FT Cboe Vest International Equity Buffer ETF - September changed to include an upside cap of 20.61% (before fees, expenses and taxes) and 19.69% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of September 18, 2023 to September 20, 2024.

As of September 18, 2023, the investment objective of the FT Cboe Vest Nasdaq-100® Buffer ETF - September changed to include an upside cap of 21.00% (before fees, expenses and taxes) and 20.09% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of September 18, 2023 to September 20, 2024.

As of September 18, 2023, the investment objective of the FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September changed to include an upside cap of 11.80% (before fees and expenses), and 10.94% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund’s management fee) and an Outcome Period of September 18, 2023 to September 20, 2024.

Page 90

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Trustees of First Trust Exchange-Traded Fund VIII:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statements of assets and liabilities of FT Cboe Vest International Equity Buffer ETF - March, FT Cboe Vest Nasdaq-100® Buffer ETF - March, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March, FT Cboe Vest International Equity Buffer ETF - June, FT Cboe Vest Nasdaq-100® Buffer ETF - June, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August, FT Cboe Vest International Equity Buffer ETF - September, FT Cboe Vest Nasdaq-100® Buffer ETF - September, FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September, FT Cboe Vest International Equity Buffer ETF - December, FT Cboe Vest Nasdaq-100® Buffer ETF - December, and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (the “Funds”), each a series of the First Trust Exchange-Traded Fund VIII, including the portfolios of investments, as of August 31, 2023, and the related statements of operations, the statements of changes in net assets, and the financial highlights for the periods indicated in the table below; and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of August 31, 2023, and the results of their operations, the changes in their net assets, and the financial highlights for the periods listed in the table below, in conformity with accounting principles generally accepted in the United States of America.

Individual Funds Included in the Trust	Statements of Operations	Statements of Changes in Net Assets	Financial Highlights
FT Cboe Vest International Equity Buffer ETF - March	For the year ended August 31, 2023	For the years ended August 31, 2023 and 2022	For the years ended August 31, 2023 and 2022, and for the period from March 19, 2021 (commencement of investment operations) through August 31, 2021
FT Cboe Vest Nasdaq-100® Buffer ETF - March
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	For the period from March 17, 2023 (commencement of investment operations) through August 31, 2023
FT Cboe Vest International Equity Buffer ETF - June	For the year ended August 31, 2023	For the years ended August 31, 2023 and 2022	For the years ended August 31, 2023 and 2022, and for the period from June 18, 2021 (commencement of investment operations) through August 31, 2021
FT Cboe Vest Nasdaq-100® Buffer ETF - June
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June	For the year ended August 31, 2023	For the years ended August 31, 2023 and 2022	For the years ended August 31, 2023 and 2022, and for the period from July 12, 2021 (commencement of investment operations) through August 31, 2021
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July	For the period from July 21, 2023 (commencement of investment operations) through August 31, 2023
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August	For the period from August 18, 2023 (commencement of investment operations) through August 31, 2023
FT Cboe Vest International Equity Buffer ETF - September	For the year ended August 31, 2023	For the year ended August 31, 2023 and for the period from September 17, 2021 (commencement of investment operations) through August 31, 2022
FT Cboe Vest Nasdaq-100® Buffer ETF - September
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	For the period from September 21, 2022 (commencement of investment operations) through August 31, 2023

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Report of Independent Registered Public Accounting Firm (Continued)

Individual Funds Included in the Trust	Statements of Operations	Statements of Changes in Net Assets	Financial Highlights
FT Cboe Vest International Equity Buffer ETF - December	For the year ended August 31, 2023	For the years ended August 31, 2023 and 2022	For the years ended August 31, 2023 and 2022, and for the period from December 18, 2020 (commencement of investment operations) through August 31, 2021
FT Cboe Vest Nasdaq-100® Buffer ETF - December
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	For the year ended August 31, 2023	For the year ended August 31, 2023 and for the period from December 17, 2021 (commencement of investment operations) through August 31, 2022

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of August 31, 2023, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

Chicago, Illinois
October 24, 2023

We have served as the auditor of one or more First Trust investment companies since 2001.

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Additional Information

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

Proxy Voting Policies and Procedures

A description of the policies and procedures that the Trust uses to determine how to vote proxies and information on how each Fund voted proxies relating to its portfolio securities during the most recent 12-month period ended June 30 is available (1) without charge, upon request, by calling (800) 988-5891; (2) on each Fund’s website at www.ftportfolios.com; and (3) on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

Portfolio Holdings

Each Fund files portfolio holdings information for each month in a fiscal quarter within 60 days after the end of the relevant fiscal quarter on Form N-PORT. Portfolio holdings information for the third month of each fiscal quarter will be publicly available on the SEC’s website at www.sec.gov. Each Fund’s complete schedule of portfolio holdings for the second and fourth quarters of each fiscal year is included in the semi-annual and annual reports to shareholders, respectively, and is filed with the SEC on Form N-CSR. The semi-annual and annual report for each Fund is available to investors within 60 days after the period to which it relates. Each Fund’s Forms N-PORT and Forms N-CSR are available on the SEC’s website listed above.

Federal Tax Information

There were no distributions made by each Fund during their applicable taxable period; therefore, no analysis for the corporate dividends received deduction and qualified dividend income was completed.

Risk Considerations

Risks are inherent in all investing. Certain general risks that may be applicable to a Fund are identified below, but not all of the material risks relevant to each Fund are included in this report and not all of the risks below apply to each Fund. The material risks of investing in each Fund are spelled out in its prospectus, statement of additional information and other regulatory filings. Before investing, you should consider each Fund’s investment objective, risks, charges and expenses, and read each Fund’s prospectus and statement of additional information carefully. You can download each Fund’s prospectus at www.ftportfolios.com or contact First Trust Portfolios L.P. at (800) 621-1675 to request a prospectus, which contains this and other information about each Fund.

Concentration Risk. To the extent that a fund is able to invest a significant percentage of its assets in a single asset class or the securities of issuers within the same country, state, region, industry or sector, an adverse economic, business or political development may affect the value of the fund’s investments more than if the fund were more broadly diversified. A fund that tracks an index will be concentrated to the extent the fund’s corresponding index is concentrated. A concentration makes a fund more susceptible to any single occurrence and may subject the fund to greater market risk than a fund that is more broadly diversified.

Credit Risk. Credit risk is the risk that an issuer of a security will be unable or unwilling to make dividend, interest and/or principal payments when due and the related risk that the value of a security may decline because of concerns about the issuer’s ability to make such payments.

Cyber Security Risk. The funds are susceptible to potential operational risks through breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause a fund to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause a fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. In addition, cyber security breaches of a fund’s third-party service providers, such as its administrator, transfer agent, custodian, or sub-advisor, as applicable, or issuers in which the fund invests, can also subject a fund to many of the same risks associated with direct cyber security breaches.

Defined Outcome Funds Risk. To the extent a fund’s investment strategy is designed to deliver returns tied to the price performance of an underlying ETF, an investor may not realize the returns the fund seeks to achieve if that investor does not hold shares for the entire target outcome period. In the event an investor purchases shares after the first day of the target outcome period or sells shares prior to the end of the target outcome period, the buffer that the fund seeks to provide against a decline in the value of the underlying ETF may not be available, the enhanced returns that the fund seeks to provide (if any) may not be available and the investor may not participate in a gain in the value of the underlying ETF up to the cap for the investor’s investment period. Additionally, the fund will not participate in gains of the underlying ETF above the cap and a shareholder may lose their entire investment. If the fund seeks enhanced returns, there are certain time periods when the value of the fund may fall faster than the value of the underlying ETF, and it is very unlikely that, on any given day during which the underlying ETF share price increases in value, the fund’s share price will

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Additional Information (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

increase at the same rate as the enhanced returns sought by the fund, which is designed for an entire target outcome period. Trading flexible exchange options involves risks different from, or possibly greater than, the risks associated with investing directly in securities, such as less liquidity and correlation and valuation risks. A fund may experience substantial downside from specific flexible exchange option positions and certain positions may expire worthless.

Derivatives Risk. To the extent a fund uses derivative instruments such as futures contracts, options contracts and swaps, the fund may experience losses because of adverse movements in the price or value of the underlying asset, index or rate, which may be magnified by certain features of the derivative. These risks are heightened when a fund’s portfolio managers use derivatives to enhance the fund’s return or as a substitute for a position or security, rather than solely to hedge (or offset) the risk of a position or security held by the fund.

Equity Securities Risk. To the extent a fund invests in equity securities, the value of the fund’s shares will fluctuate with changes in the value of the equity securities. Equity securities prices fluctuate for several reasons, including changes in investors’ perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as market volatility, or when political or economic events affecting the issuers occur. In addition, common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase. Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur in the equity market as a whole, or they may occur in only a particular country, company, industry or sector of the market.

ETF Risk. The shares of an ETF trade like common stock and represent an interest in a portfolio of securities. The risks of owning an ETF generally reflect the risks of owning the underlying securities, although lack of liquidity in an ETF could result in it being more volatile and ETFs have management fees that increase their costs. Shares of an ETF trade on an exchange at market prices rather than net asset value, which may cause the shares to trade at a price greater than net asset value (premium) or less than net asset value (discount). In times of market stress, decisions by market makers to reduce or step away from their role of providing a market for an ETF’s shares, or decisions by an ETF’s authorized participants that they are unable or unwilling to proceed with creation and/or redemption orders of an ETF’s shares, could result in shares of the ETF trading at a discount to net asset value and in greater than normal intraday bid-ask spreads.

Fixed Income Securities Risk. To the extent a fund invests in fixed income securities, the fund will be subject to credit risk, income risk, interest rate risk, liquidity risk and prepayment risk. Income risk is the risk that income from a fund’s fixed income investments could decline during periods of falling interest rates. Interest rate risk is the risk that the value of a fund’s fixed income securities will decline because of rising interest rates. Liquidity risk is the risk that a security cannot be purchased or sold at the time desired, or cannot be purchased or sold without adversely affecting the price. Prepayment risk is the risk that the securities will be redeemed or prepaid by the issuer, resulting in lower interest payments received by the fund. In addition to these risks, high yield securities, or “junk” bonds, are subject to greater market fluctuations and risk of loss than securities with higher ratings, and the market for high yield securities is generally smaller and less liquid than that for investment grade securities.

Index or Model Constituent Risk. Certain funds may be a constituent of one or more indices or ETF models. As a result, such a fund may be included in one or more index-tracking exchange-traded funds or mutual funds. Being a component security of such a vehicle could greatly affect the trading activity involving a fund, the size of the fund and the market volatility of the fund. Inclusion in an index could increase demand for the fund and removal from an index could result in outsized selling activity in a relatively short period of time. As a result, a fund’s net asset value could be negatively impacted and the fund’s market price may be significantly below its net asset value during certain periods. In addition, index rebalances may potentially result in increased trading activity in a fund’s shares.

Index Provider Risk. To the extent a fund seeks to track an index, it is subject to Index Provider Risk. There is no assurance that the Index Provider will compile the Index accurately, or that the Index will be determined, maintained, constructed, reconstituted, rebalanced, composed, calculated or disseminated accurately. To correct any such error, the Index Provider may carry out an unscheduled rebalance or other modification of the Index constituents or weightings, which may increase the fund’s costs. The Index Provider does not provide any representation or warranty in relation to the quality, accuracy or completeness of data in the Index, and it does not guarantee that the Index will be calculated in accordance with its stated methodology. Losses or costs associated with any Index Provider errors generally will be borne by the fund and its shareholders.

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Additional Information (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

Investment Companies Risk. To the extent a fund invests in the securities of other investment vehicles, the fund will incur additional fees and expenses that would not be present in a direct investment in those investment vehicles. Furthermore, the fund’s investment performance and risks are directly related to the investment performance and risks of the investment vehicles in which the fund invests.

LIBOR Risk. To the extent a fund invests in floating or variable rate obligations that use the London Interbank Offered Rate (“LIBOR”) as a reference interest rate, it is subject to LIBOR Risk. The United Kingdom’s Financial Conduct Authority, which regulates LIBOR, has ceased making LIBOR available as a reference rate over a phase-out period that began December 31, 2021. There is no assurance that any alternative reference rate, including the Secured Overnight Financing Rate (“SOFR”) will be similar to or produce the same value or economic equivalence as LIBOR or that instruments using an alternative rate will have the same volume or liquidity. The unavailability or replacement of LIBOR may affect the value, liquidity or return on certain fund investments and may result in costs incurred in connection with closing out positions and entering into new trades. Any potential effects of the transition away from LIBOR on the fund or on certain instruments in which the fund invests can be difficult to ascertain, and they may vary depending on a variety of factors, and they could result in losses to the fund.

Management Risk. To the extent that a fund is actively managed, it is subject to management risk. In managing an actively-managed fund’s investment portfolio, the fund’s portfolio managers will apply investment techniques and risk analyses that may not have the desired result. There can be no guarantee that a fund will meet its investment objective.

Market Risk. Market risk is the risk that a particular security, or shares of a fund in general, may fall in value. 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. These events also adversely affect the prices and liquidity of a fund’s portfolio securities or other instruments and could result in disruptions in the trading markets. Any of such circumstances could have a materially negative impact on the value of a fund’s shares and result in increased market volatility. During any such events, a fund’s shares may trade at increased premiums or discounts to their net asset value and the bid/ask spread on a fund’s shares may widen.

Non-U.S. Securities Risk. To the extent a fund invests in non-U.S. securities, it is subject to additional risks not associated with securities of domestic issuers. Non-U.S. securities are subject to higher volatility than securities of domestic issuers due to:possible adverse political, social or economic developments; restrictions on foreign investment or exchange of securities; capital controls; lack of liquidity; currency exchange rates; excessive taxation; government seizure of assets; the imposition of sanctions by foreign governments; different legal or accounting standards; and less government supervision and regulation of exchanges in foreign countries. Investments in non-U.S. securities may involve higher costs than investments in U.S. securities, including higher transaction and custody costs, as well as additional taxes imposed by non-U.S. governments. These risks may be heightened for securities of companies located, or with significant operations, in emerging market countries.

Operational Risk. Each fund is subject to risks arising from various operational factors, including, but not limited to, human error, processing and communication errors, errors of a fund’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. Each fund relies on third-parties for a range of services, including custody. Any delay or failure relating to engaging or maintaining such service providers may affect a fund’s ability to meet its investment objective. Although the funds and the funds’ investment advisor seek to reduce these operational risks through controls and procedures, there is no way to completely protect against such risks.

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Additional Information (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

Passive Investment Risk. To the extent a fund seeks to track an index, the fund will invest in the securities included in, or representative of, the index regardless of their investment merit. A fund generally will not attempt to take defensive positions in declining markets.

Preferred Securities Risk. Preferred securities combine some of the characteristics of both common stocks and bonds. Preferred securities are typically subordinated to bonds and other debt securities in a company’s capital structure in terms of priority to corporate income, subjecting them to greater credit risk than those debt securities. Generally, holders of preferred securities have no voting rights with respect to the issuing company unless preferred dividends have been in arrears for a specified number of periods, at which time the preferred security holders may obtain limited rights. In certain circumstances, an issuer of preferred securities may defer payment on the securities and, in some cases, redeem the securities prior to a specified date. Preferred securities may also be substantially less liquid than other securities, including common stock.

Valuation Risk. The valuation of certain securities may carry more risk than that of common stock. Uncertainties in the conditions of the financial markets, unreliable reference data, lack of transparency and inconsistency of valuation models and processes may lead to inaccurate asset pricing. A fund may hold investments in sizes smaller than institutionally sized round lot positions (sometimes referred to as odd lots). However, third-party pricing services generally provide evaluations on the basis of institutionally-sized round lots. If a fund sells certain of its investments in an odd lot transaction, the sale price may be less than the value at which such securities have been held by the fund. Odd lots often trade at lower prices than institutional round lots. There is no assurance that the fund will be able to sell a portfolio security at the price established by the pricing service, which could result in a loss to the fund.

Disclaimer

The Funds are not sponsored, endorsed, sold or promoted by Invesco QQQ TrustSM, Series 1, Invesco, Nasdaq, Inc., or SPDR® S&P 500® ETF Trust, PDR, or Standard & Poor’s® (together with their affiliates hereinafter referred to as the “Corporations”). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of, descriptions and disclosures relating to the Funds or the FLEX Options. The Corporations make no representations or warranties, express or implied, regarding the advisability of investing in the Funds or the FLEX Options or results to be obtained by the Funds or the FLEX Options, shareholders or any other person or entity from use of the Invesco QQQ TrustSM or SPDR® S&P 500® ETF Trust. The Corporations have no liability in connection with the management, administration, marketing or trading of the Funds or the FLEX Options.

NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE

Advisory and Sub-Advisory Agreements

Board Considerations Regarding Approval of the Investment Management and Sub-Advisory Agreements for
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March

The Board of Trustees of First Trust Exchange-Traded Fund VIII (the “Trust”), including the Independent Trustees, approved the Investment Management Agreement (the “Advisory Agreement”) with First Trust Advisors L.P. (the “Advisor”), on behalf of FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF – March (the “Fund”), and the Investment Sub-Advisory Agreement (the “Sub-Advisory Agreement” and together with the Advisory Agreement, the “Agreements”) among the Trust, on behalf of the Fund, the Advisor and Cboe VestSM Financial LLC (the “Sub-Advisor”), for an initial two-year term at a meeting held on June 7, 2021. The Board determined that the Agreements are in the best interests of the Fund in light of the nature, extent and quality of the services expected to be provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.

To reach this determination, the Board considered its duties under the Investment Company Act of 1940, as amended (the “1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements. To assist the Board in its evaluation of the Agreements for the Fund, the Independent Trustees received a separate report from each of the Advisor and the Sub-Advisor in advance of the Board meeting responding to requests for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined: the services to be provided by the Advisor and the Sub-Advisor to the Fund (including the relevant personnel responsible for these services and their experience); the proposed unitary fee rate payable by the Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other exchange-traded funds (“ETFs”)

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Additional Information (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

managed by the Advisor; the proposed sub-advisory fee rate as compared to fees charged to other clients of the Sub-Advisor; the estimated expense ratio of the Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; the nature of expenses to be incurred in providing services to the Fund and the potential for the Advisor and the Sub-Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; financial data for the Sub-Advisor; any fall-out benefits to the Advisor and its affiliates, First Trust Portfolios L.P. (“FTP”) and First Trust Capital Partners, LLC (“FTCP”), and the Sub-Advisor; and information on the Advisor’s and the Sub-Advisor’s compliance programs. The Independent Trustees and their counsel also met separately to discuss the information provided by the Advisor and the Sub-Advisor. The Board applied its business judgment to determine whether the arrangements between the Trust and the Advisor and among the Trust, the Advisor and the Sub-Advisor are reasonable business arrangements from the Fund’s perspective.

In evaluating whether to approve the Agreements for the Fund, the Board considered the nature, extent and quality of the services to be provided by the Advisor and the Sub-Advisor under the Agreements. With respect to the Advisory Agreement, the Board considered that the Advisor will be responsible for the overall management and administration of the Fund and reviewed all of the services to be provided by the Advisor to the Fund, including the oversight of the Sub-Advisor, as well as the background and experience of the persons responsible for such services. The Board considered that the Fund will be an actively-managed ETF and will employ an advisor/sub-advisor management structure and considered that the Advisor manages other ETFs with a similar structure in the First Trust Fund Complex. The Board noted that the Advisor will oversee the Sub-Advisor’s day-to-day management of the Fund’s investments, including portfolio risk monitoring and performance review. In reviewing the services to be provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s, the Sub-Advisor’s and the Fund’s compliance with the 1940 Act, as well as the Fund’s compliance with its investment objective, policies and restrictions. The Board noted that employees of the Advisor provide management services to other ETFs and to other funds in the First Trust Fund Complex with diligence and care. With respect to the Sub-Advisory Agreement, in addition to the written materials provided by the Sub-Advisor, at the June 7, 2021 meeting, the Board also received a presentation from representatives of the Sub-Advisor discussing the services that the Sub-Advisor will provide to the Fund, and the Trustees were able to ask questions about the proposed investment strategy for the Fund. The Board noted the background and experience of the Sub-Advisor’s portfolio management team and the Sub-Advisor’s investment style. The Board also noted that the Sub-Advisor manages a number of other defined-outcome ETFs with strategies similar to those of the Fund in the First Trust Fund Complex. Because the Fund had yet to commence investment operations, the Board could not consider the historical investment performance of the Fund. In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services to be provided to the Fund by the Advisor and the Sub-Advisor under the Agreements are expected to be satisfactory.

The Board considered the proposed unitary fee rate payable by the Fund under the Advisory Agreement for the services to be provided. The Board noted that, under the unitary fee arrangement, the Fund would pay the Advisor a unitary fee equal to an annual rate of 0.85% of its average daily net assets. The Board considered that, from the unitary fee for the Fund, the Advisor would pay the Sub-Advisor a sub-advisory fee equal to 50% of the Fund’s unitary fee less one-half of the Fund’s expenses. The Board noted that the Advisor and the Sub-Advisor would be responsible for the Fund’s expenses, including the cost of sub-advisory, transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the Advisory Agreement and interest, taxes, acquired fund fees and expenses, if any, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any. The Board received and reviewed information showing the unitary fee rates and expense ratios of the peer funds in the Expense Group, as well as advisory and unitary fee rates charged by the Advisor and the Sub-Advisor to other fund (including ETF) and non-fund clients, as applicable. Because the Fund will pay a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. Based on the information provided, the Board noted that the unitary fee rate for the Fund was above the median total (net) expense ratio of the peer funds in the Expense Group. With respect to the Expense Group, the Board discussed with representatives of the Advisor how the Expense Group was assembled and how the Fund compared and differed from the peer funds. The Board took this information into account in considering the peer data. With respect to fees charged to other clients, the Board considered the Advisor’s statement that the Fund will be unique to the market and the First Trust Fund Complex, but will be most similar to the ETFs in the FT Cboe Vest U.S. Equity Buffer ETF and FT Cboe Vest U.S. Equity Deep Buffer ETF product lines in the First Trust Fund Complex that are managed by the Advisor and sub-advised by the Sub-Advisor, each of which pays a unitary fee equal to an annual rate of 0.85% of its average daily net assets. In light of the information considered and the nature, extent and quality of the services expected to be provided to the Fund under the Agreements, the Board determined that the proposed unitary fee, including the sub-advisory fee to be paid by the Advisor to the Sub-Advisor from the unitary fee, was fair and reasonable.

The Board noted that the proposed unitary fee for the Fund was not structured to pass on to shareholders the benefits of any economies of scale as the Fund’s assets grow. The Board noted that any reduction in fixed costs associated with the management of the Fund

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First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

would benefit the Advisor and the Sub-Advisor, but that the unitary fee structure provides a level of certainty in expenses for the Fund. The Board noted that the Advisor has continued to hire personnel and build infrastructure, including technology, to improve the services to the funds in the First Trust Fund Complex. The Board took into consideration the types of costs to be borne by the Advisor in connection with its services to be performed for the Fund under the Advisory Agreement. The Board considered the Advisor’s estimate of the asset level for the Fund at which the Advisor expects the Advisory Agreement to be profitable to the Advisor and the Advisor’s estimate of the profitability of the Advisory Agreement if the Fund’s assets reach $100 million. The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s estimated profitability level for the Fund was not unreasonable. The Board reviewed financial information provided by the Sub-Advisor, but did not review any potential profitability of the Sub-Advisory Agreement to the Sub-Advisor. The Board considered that the Sub-Advisor would be paid by the Advisor from the Fund’s unitary fee and its understanding that the sub-advisory fee rate was the product of an arm’s length negotiation. In addition, the Board considered fall-out benefits described by the Advisor that may be realized from its relationship with the Fund. The Board noted that FTCP has a controlling ownership interest in the Sub-Advisor’s parent company and considered potential fall-out benefits to the Advisor from such ownership interest. The Board also considered that the Advisor had identified as a fall-out benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Fund, may have had no dealings with the Advisor or FTP. The Board also considered the potential fall-out benefits to the Sub-Advisor from FTCP’s controlling ownership interest in the Sub-Advisor’s parent company. The Board noted the Sub-Advisor’s statements that it does not foresee any fall-out benefits from its relationship with the Fund and that, as a policy, it does not enter into soft-dollar arrangements for the procurement of research services in connection with client securities transactions. The Board concluded that the character and amount of potential fall-out benefits to the Advisor and the Sub-Advisor were not unreasonable.

Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, determined that the terms of the Agreements are fair and reasonable and that the approval of the Agreements is in the best interests of the Fund. No single factor was determinative in the Board’s analysis.

At a meeting held on December 11-12, 2022 and prior to the launch of the Fund in March 2023, the Board, including the Independent Trustees, approved revisions to the Agreements to allow for the unitary fee rate to be subject to a breakpoint schedule pursuant to which the unitary fee rate paid by the Fund will be reduced as assets of the Fund meet certain thresholds. The Board, including the Independent Trustees, determined that the addition of a breakpoint schedule to the unitary fee rate is in the best interests of the Fund.

Board Considerations Regarding Approval of the Investment Management and Sub-Advisory Agreements for
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)

The Board of Trustees of First Trust Exchange-Traded Fund VIII (the “Trust”), including the Independent Trustees, approved the Investment Management Agreement (the “Advisory Agreement”) with First Trust Advisors L.P. (the “Advisor”) and the Investment Sub-Advisory Agreement (the “Sub-Advisory Agreement” and together with the Advisory Agreement, the “Agreements”) among the Trust, the Advisor and Cboe VestSM Financial LLC (the “Sub-Advisor”) on behalf of the following series of the Trust (each a “Fund” and collectively, the “Funds”):

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)

The Board approved the Agreements for each Fund for an initial two-year term at a meeting held on June 5, 2023. The Board determined for each Fund that the Agreements are in the best interests of the Fund in light of the nature, extent and quality of the services expected to be provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.

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August 31, 2023 (Unaudited)

compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other exchange-traded funds (“ETFs”) managed by the Advisor; the proposed sub-advisory fee as compared to fees charged to other clients of the Sub-Advisor; the estimated expense ratio of each Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; the nature of expenses to be incurred in providing services to each Fund and the potential for the Advisor and the Sub-Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; financial data for the Sub-Advisor; any indirect benefits to the Advisor and its affiliates, First Trust Portfolios L.P. (“FTP”) and First Trust Capital Partners, LLC (“FTCP”), and the Sub-Advisor; and information on the Advisor’s and the Sub-Advisor’s compliance programs. The Independent Trustees and their counsel also met separately to discuss the information provided by the Advisor and the Sub-Advisor. The Board applied its business judgment to determine whether the arrangements between the Trust and the Advisor and among the Trust, the Advisor and the Sub-Advisor are reasonable business arrangements from each Fund’s perspective.

In evaluating whether to approve the Agreements for each Fund, the Board considered the nature, extent and quality of the services to be provided by the Advisor and the Sub-Advisor under the Agreements. With respect to the Advisory Agreement, the Board considered that the Advisor will be responsible for the overall management and administration of each Fund and reviewed all of the services to be provided by the Advisor to the Funds, including the oversight of the Sub-Advisor, as well as the background and experience of the persons responsible for such services. The Board considered that each Fund will be an actively-managed ETF and will employ an advisor/sub-advisor management structure and considered that the Advisor manages other ETFs with a similar structure in the First Trust Fund Complex. The Board noted that the Advisor will oversee the Sub-Advisor’s day-to-day management of the Fund’s investments, including portfolio risk monitoring and performance review. In reviewing the services to be provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s, the Sub-Advisor’s and each Fund’s compliance with the 1940 Act, as well as each Fund’s compliance with its investment objective, policies and restrictions. The Board noted that employees of the Advisor provide management services to other ETFs and to other funds in the First Trust Fund Complex with diligence and care. With respect to the Sub-Advisory Agreement, in addition to the written materials provided by the Sub-Advisor, at the June 5, 2023 meeting, the Board also received a presentation from representatives of the Sub-Advisor discussing the services that the Sub-Advisor will provide to the Funds, and the Trustees were able to ask questions about the proposed strategy for the Funds. The Board noted the background and experience of the Sub-Advisor’s portfolio management team and the Sub-Advisor’s investment style. The Board also noted that the Sub-Advisor manages a number of other defined-outcome ETFs with strategies similar to those of the Funds in the First Trust Fund Complex. Because the Funds had yet to commence investment operations, the Board could not consider the historical investment performance of the Funds. In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services to be provided to each Fund by the Advisor and the Sub-Advisor under the Agreements are expected to be satisfactory.

The Board considered the proposed unitary fee rate schedule payable by each Fund under the Advisory Agreement for the services to be provided. The Board noted that, under the unitary fee arrangement, each Fund would pay the Advisor a unitary fee starting at an annual rate of 0.85% of its average daily net assets, subject to a breakpoint schedule pursuant to which the unitary fee rate would be reduced as assets of the Fund meet certain thresholds. The Board considered that, from the unitary fee for each Fund, the Advisor would pay the Sub-Advisor a sub-advisory fee equal to 50% of the Fund’s unitary fee less one-half of the Fund’s expenses and that the sub-advisory fee would be reduced consistent with the breakpoints in the unitary fee rate schedule. The Board noted that the Advisor and the Sub-Advisor would be responsible for each Fund’s expenses, including the cost of sub-advisory, transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the Advisory Agreement and interest, taxes, acquired fund fees and expenses, if any, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any. The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Group, as well as advisory and unitary fee rates charged by the Advisor and the Sub-Advisor to other fund (including ETF) and non-fund clients, as applicable. Because each Fund will pay a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. Based on the information provided, the Board noted that the total (net) expense ratio for each Fund was above the median total (net) expense ratio of the peer funds in its Expense Group. With respect to the Expense Group, the Board discussed with representatives of the Advisor how the Expense Group was assembled and how each Fund compared and differed from the peer funds. The Board took this information into account in considering the peer data. With respect to fees charged to other clients, the Board considered the Advisor’s statement that the Funds will be most similar to the ETFs in the FT Cboe Vest U.S. Equity Buffer ETF and FT Cboe Vest U.S. Equity Deep Buffer ETF product lines in the First Trust Fund Complex that are managed by the Advisor and sub-advised by the Sub-Advisor, each of which has a unitary fee rate schedule starting at an annual rate of 0.85% of its average daily net assets. In light of the information considered and the nature, extent and quality of the services expected to be provided to each

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August 31, 2023 (Unaudited)

Fund under the Agreements, the Board determined that, for each Fund, the proposed unitary fee, including the sub-advisory fee to be paid by the Advisor to the Sub-Advisor from the unitary fee, was fair and reasonable.

The Board considered whether there are any potential economies of scale to be achieved in connection with the Advisor providing investment advisory services to the Funds and whether the Funds may benefit from any economies of scale. The Board noted that the proposed unitary fee rate schedule for each Fund includes breakpoints pursuant to which the unitary fee rate would be reduced as assets of the Fund meet certain thresholds. The Board considered that the Advisor has continued to build infrastructure and add new staff to improve the services to the funds in the First Trust Fund Complex. The Board also noted that under the unitary fee structure, any reduction in expenses associated with the management and operations of the Funds generally would benefit the Advisor and the Sub-Advisor, but that the unitary fee structure provides a level of certainty in expenses for shareholders of the Funds. The Board concluded that the proposed unitary fee rate schedule for each Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at reasonably foreseeable future asset levels. The Board considered that the Sub-Advisor would be paid by the Advisor from each Fund’s unitary fee, that the sub-advisory fee for each Fund would be reduced consistent with the breakpoints in the Fund’s unitary fee rate schedule and its understanding that the sub-advisory fee for each Fund was the product of an arm’s length negotiation. The Board took into consideration the types of costs to be borne by the Advisor in connection with its services to be performed for each Fund under the Advisory Agreement. The Board considered the Advisor’s estimate of the asset level for each Fund at which the Advisor expects the Advisory Agreement for the Fund to be profitable to the Advisor and the Advisor’s estimate of the profitability of the Advisory Agreement for each Fund if its assets reach $100 million. The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s estimated profitability level for each Fund was not unreasonable. The Board reviewed financial information provided by the Sub-Advisor, but did not review any potential profitability of the Sub-Advisory Agreement for each Fund to the Sub-Advisor. The Board concluded that the profitability analysis for the Advisor was more relevant. In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Funds. The Board noted that FTCP has a controlling ownership interest in the Sub-Advisor’s parent company and considered potential indirect benefits to the Advisor from such ownership interest. The Board also considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Funds, may have had no dealings with the Advisor or FTP. The Board also considered the potential indirect benefits to the Sub-Advisor from FTCP’s controlling ownership interest in the Sub-Advisor’s parent company. The Board noted the Sub-Advisor’s statements that it does not foresee any indirect benefits from its relationship with the Funds and that, as a policy, it does not enter into soft-dollar arrangements for the procurement of research services in connection with client securities transactions. The Board concluded that the character and amount of potential indirect benefits to the Advisor and the Sub-Advisor were not unreasonable.

Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, determined that the terms of the Agreements are fair and reasonable and that the approval of the Agreements is in the best interests of each Fund. No single factor was determinative in the Board’s analysis.

Board Considerations Regarding Approval of the Continuation of the Investment Management and Sub-Advisory Agreements for
FT Cboe Vest International Equity Buffer ETF - March
FT Cboe Vest Nasdaq-100® Buffer ETF - March
FT Cboe Vest International Equity Buffer ETF - June
FT Cboe Vest Nasdaq-100® Buffer ETF - June
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June
FT Cboe Vest International Equity Buffer ETF - September
FT Cboe Vest Nasdaq-100® Buffer ETF - September
FT Cboe Vest International Equity Buffer ETF - December
FT Cboe Vest Nasdaq-100® Buffer ETF - December
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December

The Board of Trustees of First Trust Exchange-Traded Fund VIII (the “Trust”), including the Independent Trustees, unanimously approved the continuation of the Investment Management Agreement (the “Advisory Agreement”) with First Trust Advisors L.P. (the “Advisor”) and the Investment Sub-Advisory Agreement (the “Sub-Advisory Agreement” and together with the Advisory Agreement, the “Agreements”) among the Trust, the Advisor and Cboe VestSM Financial LLC (the “Sub-Advisor”) on behalf of the following series of the Trust (each a “Fund” and collectively, the “Funds”):

FT Cboe Vest International Equity Buffer ETF - March (YMAR)

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First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)

FT Cboe Vest International Equity Buffer ETF - June (YJUN)

FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)

FT Cboe Vest International Equity Buffer ETF - September (YSEP)

FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)

FT Cboe Vest International Equity Buffer ETF - December (YDEC)

FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)

The Board approved the continuation of the Agreements for each Fund for a one-year period ending June 30, 2024 at a meeting held on June 4-5, 2023. The Board determined for each Fund that the continuation of the Agreements is in the best interests of the Fund in light of the nature, extent and quality of the services provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.

To reach this determination for each Fund, the Board considered its duties under the Investment Company Act of 1940, as amended (the “1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements. At meetings held on April 17, 2023 and June 4-5, 2023, the Board, including the Independent Trustees, reviewed materials provided by the Advisor and the Sub-Advisor responding to requests for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined:the services provided by the Advisor and the Sub-Advisor to each Fund (including the relevant personnel responsible for these services and their experience); the unitary fee rate schedule payable by each Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other clients of the Advisor, including other exchange-traded funds (“ETFs”) managed by the Advisor; the sub-advisory fee as compared to fees charged to other clients of the Sub-Advisor; the expense ratio of each Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; performance information for each Fund, including comparisons of each Fund’s performance to that of one or more relevant benchmark indexes and to that of a performance group of funds and a broad performance universe of funds (the “Performance Universe”), each assembled by Broadridge; the nature of expenses incurred in providing services to each Fund and the potential for the Advisor and the Sub-Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; financial data for the Sub-Advisor; any indirect benefits to the Advisor and its affiliates, First Trust Portfolios L.P. (“FTP”) and First Trust Capital Partners, LLC (“FTCP”), and the Sub-Advisor; and information on the Advisor’s and the Sub-Advisor’s compliance programs. The Board reviewed initial materials with the Advisor at the meeting held on April 17, 2023, prior to which the Independent Trustees and their counsel met separately to discuss the information provided by the Advisor and the Sub-Advisor. Following the April meeting, counsel to the Independent Trustees, on behalf of the Independent Trustees, requested certain clarifications and supplements to the materials provided, and the information provided in response to those requests was considered at an executive session of the Independent Trustees and their counsel held prior to the June 4-5, 2023 meeting, as well as at the June meeting. The Board applied its business judgment to determine whether the arrangements between the Trust and the Advisor and among the Trust, the Advisor and the Sub-Advisor continue to be reasonable business arrangements from each Fund’s perspective. The Board determined that, given the totality of the information provided with respect to the Agreements, the Board had received sufficient information to renew the Agreements. The Board considered that shareholders chose to invest or remain invested in a Fund knowing that the Advisor and the Sub-Advisor manage the Fund and knowing the Fund’s unitary fee.

In reviewing the Agreements for each Fund, the Board considered the nature, extent and quality of the services provided by the Advisor and the Sub-Advisor under the Agreements. With respect to the Advisory Agreement, the Board considered that the Advisor is responsible for the overall management and administration of the Trust and each Fund and reviewed all of the services provided by the Advisor to the Funds, including the oversight of the Sub-Advisor, as well as the background and experience of the persons responsible for such services. The Board noted that the Advisor oversees the Sub-Advisor’s day-to-day management of each Fund’s investments, including portfolio risk monitoring and performance review. In reviewing the services provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s, the Sub-Advisor’s and each Fund’s compliance with the 1940 Act, as well as each Fund’s compliance with its investment objective, policies and restrictions. The Board also considered a report from the Advisor with respect to its risk management functions

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First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

related to the operation of the Funds. Finally, as part of the Board’s consideration of the Advisor’s services, the Advisor, in its written materials and at the April 17, 2023 meeting, described to the Board the scope of its ongoing investment in additional personnel and infrastructure to maintain and improve the quality of services provided to the Funds and the other funds in the First Trust Fund Complex. With respect to the Sub-Advisory Agreement, the Board noted that each Fund is an actively-managed ETF and the Sub-Advisor actively manages the Fund’s investments. The Board reviewed the materials provided by the Sub-Advisor and considered the services that the Sub-Advisor provides to each Fund, including the Sub-Advisor’s day-to-day management of the Funds’ investments. In considering the Sub-Advisor’s management of the Funds, the Board noted the background and experience of the Sub-Advisor’s portfolio management team, including the Board’s prior meetings with members of the portfolio management team. In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services provided to the Trust and each Fund by the Advisor and the Sub-Advisor under the Agreements have been and are expected to remain satisfactory and that the Sub-Advisor, under the oversight of the Advisor, has managed each Fund consistent with its investment objective, policies and restrictions.

The Board considered the unitary fee rate schedule payable by each Fund under the Advisory Agreement for the services provided. The Board noted that the sub-advisory fee for each Fund is paid by the Advisor from the Fund’s unitary fee. The Board considered that as part of the unitary fee the Advisor is responsible for each Fund’s expenses, including the cost of sub-advisory, transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the Advisory Agreement and interest, taxes, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any. The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Groups, as well as advisory and unitary fee rates charged by the Advisor and the Sub-Advisor to other fund (including ETFs) and non-fund clients, as applicable. Because each Fund pays a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. Based on the information provided, the Board noted that the total (net) expense ratio for each Fund was above the median total (net) expense ratio of the peer funds in its respective Expense Group. With respect to the Expense Groups, the Board, at the April 17, 2023 meeting, discussed with Broadridge its methodology for assembling peer groups and discussed with the Advisor limitations in creating peer groups for actively-managed ETFs, and different business models that may affect the pricing of services among ETF sponsors. The Board also noted that, for each Fund, not all peer funds employ an advisor/sub-advisor management structure. The Board took these limitations and differences into account in considering the peer data. With respect to fees charged to other non-ETF clients, the Board considered differences between the Funds and other non-ETF clients that limited their comparability. In considering the unitary fee rate schedules overall, the Board also considered the Advisor’s statement that it seeks to meet investor needs through innovative and value-added investment solutions and the Advisor’s demonstrated long-term commitment to each Fund and the other funds in the First Trust Fund Complex.

The Board considered performance information for each Fund. The Board noted the process it has established for monitoring each Fund’s performance and portfolio risk on an ongoing basis, which includes quarterly performance reporting from the Advisor and the Sub-Advisor for the Funds. The Board determined that this process continues to be effective for reviewing each Fund’s performance. The Board received and reviewed information comparing each Fund’s performance for the one-year period ended December 31, 2022 to the performance of the funds in its Performance Universe and to that of a benchmark index. The Board noted that YMAR, YJUN, YSEP and YDEC are target outcome ETFs that seek to provide investors with returns (before fees and expenses) over a defined period of time (typically one year) that match the price return of the iShares MSCI EAFE ETF (“EFA”), up to a predetermined cap, while providing a buffer against certain losses on the price return of EFA. The Board noted that QMAR, QJUN, QSPT and QDEC are target outcome ETFs that seek to provide investors with returns (before fees and expenses) over a defined period of time (typically one year) that match the price return of the Invesco QQQ Trust, Series 1 (“QQQ”), up to a predetermined cap, while providing a buffer against certain losses on the price return of QQQ. The Board noted that XJUN and XDEC are target outcome ETFs that seek to provide investors with returns (before fees and expenses) over a defined period of time (typically one year) of approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (“SPY”), up to a predetermined cap, while providing a buffer against certain losses on the price return of SPY. The Board considered information provided by the Sub-Advisor on each Fund’s performance during its respective target outcome period that ended between April 1, 2022 and March 31, 2023 and noted that each Fund delivered on its target outcome objective.

On the basis of all the information provided on the unitary fee and performance of each Fund and the ongoing oversight by the Board, the Board concluded that the unitary fee for each Fund (out of which the Sub-Advisor is compensated) continues to be reasonable and appropriate in light of the nature, extent and quality of the services provided by the Advisor and the Sub-Advisor to each Fund under the Agreements.

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First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

The Board considered information and discussed with the Advisor whether there were any economies of scale in connection with providing advisory services to the Funds at current asset levels and whether the Funds may benefit from any economies of scale. The Board noted that the unitary fee rate schedule for each Fund includes breakpoints pursuant to which the unitary fee rate will be reduced as assets of the Fund meet certain thresholds. The Board considered the Advisor’s statement that it believes that its expenses relating to providing advisory services to the Funds will increase during the next twelve months as the Advisor continues to build infrastructure and add new staff. The Board also noted that under the unitary fee structure, any reduction in expenses associated with the management and operations of the Funds would benefit the Advisor, but that the unitary fee structure provides a level of certainty in expenses for shareholders of the Funds. The Board concluded that the unitary fee rate schedule for each Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at current asset levels. The Board considered the revenues and allocated costs (including the allocation methodology) of the Advisor in serving as investment advisor to each Fund for the twelve months ended December 31, 2022 and the estimated profitability level for each Fund calculated by the Advisor based on such data, as well as complex-wide and product-line profitability data, for the same period. The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s profitability level for each Fund was not unreasonable. In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Funds. The Board considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Funds, may have had no dealings with the Advisor or FTP. The Board also noted that FTCP has a controlling ownership interest in the Sub-Advisor’s parent company and considered potential indirect benefits to the Advisor from such ownership interest. The Board concluded that the character and amount of potential indirect benefits to the Advisor were not unreasonable.

The Board considered the Sub-Advisor’s statement that it believes that the sub-advisory fee for each Fund is appropriate. The Board noted the Sub-Advisor’s statements that it continues to invest in infrastructure, technology and personnel, and that it anticipates that its expenses relating to providing services to the Funds will remain approximately the same for the next twelve months. The Board noted that the Advisor pays the Sub-Advisor for each Fund from the unitary fee, that the sub-advisory fee will be reduced consistent with the breakpoints in the unitary fee rate schedule and its understanding that each Fund’s sub-advisory fee was the product of an arm’s length negotiation. The Board did not review the profitability of the Sub-Advisor with respect to each Fund. The Board concluded that the profitability analysis for the Advisor was more relevant. The Board considered the potential indirect benefits to the Sub-Advisor from being associated with the Advisor and the Funds, and noted the Sub-Advisor’s statements that it is the Sub-Advisor’s policy currently not to enter into soft-dollar arrangements for the procurement of research services in connection with client securities transactions and that, as a result, there are no foreseen indirect benefits from its relationship with the Funds. The Board also considered the potential indirect benefits to the Sub-Advisor from FTCP’s controlling ownership interest in the Sub-Advisor’s parent company. The Board concluded that the character and amount of potential indirect benefits to the Sub-Advisor were not unreasonable.

Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, unanimously determined that the terms of the Agreements continue to be fair and reasonable and that the continuation of the Agreements is in the best interests of each Fund. No single factor was determinative in the Board’s analysis.

Liquidity Risk Management Program

In accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “1940 Act”), the Funds and each other fund in the First Trust Fund Complex, other than the closed-end funds, have adopted and implemented a liquidity risk management program (the “Program”) reasonably designed to assess and manage the funds’ liquidity risk, i.e., the risk that a fund could not meet requests to redeem shares issued by the fund without significant dilution of remaining investors’ interests in the fund. The Board of Trustees of the First Trust Funds has appointed First Trust Advisors, L.P. (the “Advisor”) as the person designated to administer the Program, and in this capacity the Advisor performs its duties primarily through the activities and efforts of the First Trust Liquidity Committee (the “Liquidity Committee”).

Pursuant to the Program, the Liquidity Committee classifies the liquidity of each fund’s portfolio investments into one of the four liquidity categories specified by Rule 22e-4: highly liquid investments, moderately liquid investments, less liquid investments and illiquid investments. The Liquidity Committee determines certain of the inputs for this classification process, including reasonably anticipated trade sizes and significant investor dilution thresholds. The Liquidity Committee also determines and periodically reviews a highly liquid investment minimum for certain funds, monitors the funds’ holdings of assets classified as illiquid investments to seek to ensure they do not exceed 15% of a fund’s net assets and establishes policies and procedures regarding redemptions in kind.

Page 103

Additional Information (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

At the April 17, 2023 meeting of the Board of Trustees, as required by Rule 22e-4 and the Program, the Advisor provided the Board with a written report prepared by the Advisor that addressed the operation of the Program during the period from March 17, 2022 through the Liquidity Committee’s annual meeting held on March 23, 2023 and assessed the Program’s adequacy and effectiveness of implementation during this period, including the operation of the highly liquid investment minimum for each fund that is required under the Program to have one, and any material changes to the Program. Note that because the Funds primarily hold assets that are highly liquid investments, the Funds have not adopted any highly liquid investment minimums.

As stated in the written report, during the review period, two funds breached the 15% limitation on illiquid investments for one day each, as a result of an unscheduled week-long closure of the stock exchange in Istanbul following devastating earthquakes in February, causing all Turkish equities to be re-classified as “illiquid” for one day. Each fund filed a Form N-RN on the day after the breach occurred, and one day later after the breach was cured. No fund with a highly liquid investment minimum breached that minimum during the reporting period. The Advisor concluded that each fund’s investment strategy is appropriate for an open-end fund; that the Program operated effectively in all material respects during the review period; and that the Program is reasonably designed to assess and manage the liquidity risk of each fund and to maintain compliance with Rule 22e-4.

Board of Trustees

Effective September 10, 2023, the exchange-traded funds, closed-end funds, mutual funds and variable insurance funds (collectively, the “Funds”) advised by First Trust Advisors L.P. (“FTA”) announced the appointment of Ms. Bronwyn Wright as a Trustee of all Funds except the exchange-traded funds included in the First Trust Exchange-Traded Fund and the First Trust Dynamic Europe Equity Income Fund, a closed-end fund. Ms. Wright has acted as an independent director to a number of Irish collective investment funds since 2009. Ms. Wright is a former Managing Director of Citibank Europe plc and Head of Securities and Fund Services for Citi Ireland. In these positions, she was responsible for the management and strategic direction of Citi Ireland’s securities and fund services business which included funds, custody, security finance/lending and global agency and trust. She also had responsibility for leading, managing and growing the Trustee, Custodian and Depositary business in Ireland, the United Kingdom, Luxembourg, Jersey and Cayman.

Page 104

Board of Trustees and Officers

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

The following tables identify the Trustees and Officers of the Trust. Unless otherwise indicated, the address of all persons is 120 East Liberty Drive, Suite 400, Wheaton, IL 60187.

The Trust’s statement of additional information includes additional information about the Trustees and is available, without charge, upon request, by calling (800) 988-5891.

Name, Year of Birth and Position with the Trust	Term of Office and Year First Elected or Appointed	Principal Occupations During Past 5 Years	Number of Portfolios in the First Trust Fund Complex Overseen by Trustee	Other Trusteeships or Directorships Held by Trustee During Past 5 Years
INDEPENDENT TRUSTEES
Richard E. Erickson, Trustee (1951)	• Indefinite Term • Since Inception	Physician, Edward-Elmhurst Medical Group; Physician and Officer, Wheaton Orthopedics (1990 to 2021)	241	None
Thomas R. Kadlec, Trustee (1957)	• Indefinite Term • Since Inception	Retired; President, ADM Investors Services, Inc. (Futures Commission Merchant) (2010 to July 2022)	241	Director, National Futures Association and ADMIS Singapore Ltd.; Formerly, Director of ADM Investor Services, Inc., ADM Investor Services International, ADMIS Hong Kong Ltd., and Futures Industry Association
Denise M. Keefe, Trustee (1964)	• Indefinite Term • Since 2021	Executive Vice President, Advocate Aurora Health and President, Advocate Aurora Continuing Health Division (Integrated Healthcare System)	241	Director and Board Chair of Advocate Home Health Services, Advocate Home Care Products and Advocate Hospice; Director and Board Chair of Aurora At Home (since 2018); Director of Advocate Physician Partners Accountable Care Organization; Director of RML Long Term Acute Care Hospitals; Director of Senior Helpers (since 2021); and Director of MobileHelp (since 2022)
Robert F. Keith, Trustee (1956)	• Indefinite Term • Since Inception	President, Hibs Enterprises (Financial and Management Consulting)	241	Formerly, Director of Trust Company of Illinois
Niel B. Nielson, Trustee (1954)	• Indefinite Term • Since Inception	Senior Advisor (2018 to Present), Managing Director and Chief Operating Officer (2015 to 2018), Pelita Harapan Educational Foundation (Educational Products and Services)	241	None
INTERESTED TRUSTEE
James A. Bowen(1), Trustee, Chairman of the Board (1955)	• Indefinite Term • Since Inception	Chief Executive Officer, First Trust Advisors L.P. and First Trust Portfolios L.P., Chairman of the Board of Directors, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor)	241	None

(1)

Mr. Bowen is deemed an “interested person” of the Trust due to his position as Chief Executive Officer of First Trust Advisors L.P., investment advisor of the Trust.

Page 105

Board of Trustees and Officers (Continued)

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

Name and Year of Birth	Position and Offices with Trust	Term of Office and Length of Service	Principal Occupations During Past 5 Years
OFFICERS(2)
James M. Dykas (1966)	President and Chief Executive Officer	• Indefinite Term • Since Inception	Managing Director and Chief Financial Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chief Financial Officer, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor)
Derek D. Maltbie (1972)	Treasurer, Chief Financial Officer and Chief Accounting Officer	• Indefinite Term • Since 2023	Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P., July 2021 to Present. Previously, Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 - 2021.
W. Scott Jardine (1960)	Secretary and Chief Legal Officer	• Indefinite Term • Since Inception	General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.; Secretary and General Counsel, BondWave LLC; Secretary, Stonebridge Advisors LLC
Daniel J. Lindquist (1970)	Vice President	• Indefinite Term • Since Inception	Managing Director, First Trust Advisors L.P. and First Trust Portfolios L.P.
Kristi A. Maher (1966)	Chief Compliance Officer and Assistant Secretary	• Indefinite Term • Since Inception	Deputy General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.
Roger F. Testin (1966)	Vice President	• Indefinite Term • Since Inception	Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P.
Stan Ueland (1970)	Vice President	• Indefinite Term • Since Inception	Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P.

(2)

The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function.

Page 106

First Trust Exchange-Traded Fund VIII
August 31, 2023 (Unaudited)

First Trust values our relationship with you and considers your privacy an important priority in maintaining that relationship. We are committed to protecting the security and confidentiality of your personal information.

Sources of Information

We collect nonpublic personal information about you from the following sources:

• Information we receive from you and your broker-dealer, investment professional or financial representative through interviews, applications, agreements or other forms;

• Information about your transactions with us, our affiliates or others;

• Information we receive from your inquiries by mail, e-mail or telephone; and

• Information we collect on our website through the use of “cookies.” For example, we may identify the pages on our website that your browser requests or visits.

Information Collected

The type of data we collect may include your name, address, social security number, age, financial status, assets, income, tax information, retirement and estate plan information, transaction history, account balance, payment history, investment objectives, marital status, family relationships and other personal information.

Disclosure of Information

We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law. In addition to using this information to verify your identity (as required under law), the permitted uses may also include the disclosure of such information to unaffiliated companies for the following reasons:

• In order to provide you with products and services and to effect transactions that you request or authorize, we may disclose your personal information as described above to unaffiliated financial service providers and other companies that perform administrative or other services on our behalf, such as transfer agents, custodians and trustees, or that assist us in the distribution of investor materials such as trustees, banks, financial representatives, proxy services, solicitors and printers.

• We may release information we have about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example to protect your account from fraud).

In addition, in order to alert you to our other financial products and services, we may share your personal information within First Trust.

Use of Website Analytics

We currently use third party analytics tools, Google Analytics and AddThis, to gather information for purposes of improving First Trust’s website and marketing our products and services to you. These tools employ cookies, which are small pieces of text stored in a file by your web browser and sent to websites that you visit, to collect information, track website usage and viewing trends such as the number of hits, pages visited, videos and PDFs viewed and the length of user sessions in order to evaluate website performance and enhance navigation of the website. We may also collect other anonymous information, which is generally limited to technical and web navigation information such as the IP address of your device, internet browser type and operating system for purposes of analyzing the data to make First Trust’s website better and more useful to our users. The information collected does not include any personal identifiable information such as your name, address, phone number or email address unless you provide that information through the website for us to contact you in order to answer your questions or respond to your requests. To find out how to opt-out of these services click on:Google Analytics and AddThis.

Confidentiality and Security

With regard to our internal security procedures, First Trust restricts access to your nonpublic personal information to those First Trust employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards to protect your nonpublic personal information.

Policy Updates and Inquiries

As required by federal law, we will notify you of our privacy policy annually. We reserve the right to modify this policy at any time, however, if we do change it, we will tell you promptly. For questions about our policy, or for additional copies of this notice, please go to www.ftportfolios.com, or contact us at 1-800-621-1675 (First Trust Portfolios) or 1-800-222-6822 (First Trust Advisors).

March 2023

Page 107

Shareholder Letter	2
Fund Performance Overview
FT Cboe Vest International Equity Buffer ETF - March (YMAR)	3
FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)	4
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)	5
FT Cboe Vest International Equity Buffer ETF - June (YJUN)	6
FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)	7
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)	8
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)	9
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)	10
FT Cboe Vest International Equity Buffer ETF - September (YSEP)	11
FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)	12
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)	13
FT Cboe Vest International Equity Buffer ETF - December (YDEC)	14
FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)	15
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)	16
Notes to Fund Performance Overview	17
Portfolio Commentary	18
Understanding Your Fund Expenses	21
Portfolio of Investments
FT Cboe Vest International Equity Buffer ETF - March (YMAR)	24
FT Cboe Vest Nasdaq-100® Buffer ETF - March (QMAR)	26
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)	28
FT Cboe Vest International Equity Buffer ETF - June (YJUN)	30
FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)	32
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)	34
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)	36
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)	37
FT Cboe Vest International Equity Buffer ETF - September (YSEP)	38
FT Cboe Vest Nasdaq-100® Buffer ETF - September (QSPT)	40
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)	42
FT Cboe Vest International Equity Buffer ETF - December (YDEC)	44
FT Cboe Vest Nasdaq-100® Buffer ETF - December (QDEC)	46
FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)	48
Statements of Assets and Liabilities	50
Statements of Operations	54
Statements of Changes in Net Assets	58
Financial Highlights	64
Notes to Financial Statements	78
Report of Independent Registered Public Accounting Firm	91
Additional Information	93
Board of Trustees and Officers	105
Privacy Policy	107

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)	FT Cboe Vest International Equity Buffer ETF - June (YJUN)		FT Cboe Vest Nasdaq-100® Buffer ETF - June (QJUN)
Period Ended 8/31/2023 (a)	Year Ended 8/31/2023	Year Ended 8/31/2022	Year Ended 8/31/2023	Year Ended 8/31/2022

$(922,975 )	$(604,718 )	$(143,117 )	$(1,121,390 )	$(331,640 )
4,239,257	11,944,254	(1,438,356 )	17,675,357	(2,695,129 )
12,618,737	(2,190,247 )	(449,316 )	4,521,275	1,876,206
15,935,019	9,149,289	(2,030,789 )	21,075,242	(1,150,563 )


300,971,186	158,749,964	39,951,781	392,039,009	116,883,507
(48,015,191 )	(83,430,647 )	(21,551,314 )	(142,246,301 )	(57,217,432 )
252,955,995	75,319,317	18,400,467	249,792,708	59,666,075
268,891,014	84,468,606	16,369,678	270,867,950	58,515,512


—	29,654,259	13,284,581	92,048,476	33,532,964
$268,891,014	$114,122,865	$29,654,259	$362,916,426	$92,048,476


—	1,700,002	650,002	4,900,002	1,600,002
9,950,002	8,100,000	2,200,000	17,950,000	6,300,000
(1,525,000 )	(4,150,000 )	(1,150,000 )	(6,800,000 )	(3,000,000 )
8,425,002	5,650,002	1,700,002	16,050,002	4,900,002

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)
Year Ended 8/31/2023	Period Ended 8/31/2022 (f)

$(2,293,326 )	$(277,142 )
9,834,995	(47,215 )
36,031,585	(1,823,439 )
43,573,254	(2,147,796 )


461,674,530	93,120,893
(227,470,819 )	(13,118,037 )
234,203,711	80,002,856
277,776,965	77,855,060


77,855,060	—
$355,632,025	$77,855,060


2,700,002	—
15,425,000	3,150,002
(7,400,000 )	(450,000 )
10,725,002	2,700,002