5/15/2020 TORIX TORTX TORCX INFIX INFRX INFFX MLPPX Energy

Tortoise Makes Distributions Announcements for its Open-End Funds

FOR IMMEDIATE RELEASE

LEAWOOD, KS – May 15, 2020 – Following a comprehensive review of all of our funds, we have determined that Tortoise is today announcing that Tortoise MLP & Energy Income Fund (INFIX, INFRX, INFFX), Tortoise MLP & Energy Infrastructure Fund (MLPPX), and Tortoise MLP & Pipeline Fund (TORIX, TORTX, TORCX), will pay on May 21, 2020 distributions to shareholders of record as of May 20, 2020.

Quarterly distributions for the Institutional class shares of Tortoise MLP & Energy Income Fund (INFIX) and Tortoise MLP & Energy Infrastructure Fund (MLPPX) will be $0.1172 and $0.1135, respectively, which represents a reduction of 17.5% from last quarter’s distribution. The distribution rates of the A class (INFRX) and C class (INFFX) shares of the MLP & Energy Income Fund will reflect adjustments for class-specific expenses.

Tortoise MLP & Pipeline Fund (TORIX) is currently estimating a distribution of $0.18, with this amount subject to change based on shares outstanding on May 20, 2020. The distribution rates of the A class (TORTX) and C class (TORCX) shares of the fund will reflect adjustments for class-specific expenses.

More information regarding each Fund’s distribution can be found under each Fund’s respective Distributions tab on our website here. Investors can access the Funds directly through the Funds’ transfer agent, U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services, or through broker dealers and financial intermediaries.

About Tortoise
Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. For additional information, please visit tortoiseadvisors.com

About Tortoise MLP & Energy Income Fund

The Tortoise MLP & Energy Income Fund invests in securities across the capital structure of energy infrastructure companies; including common equity, preferred equity, bonds, and MLPs. The fund’s goal is to deliver strong risk-adjusted returns, greater liquidity, and lower volatility relative to the Alerian MLP Index over a market cycle.

About Tortoise MLP & Energy Infrastructure Fund

The Tortoise MLP & Energy Income Fund invests in securities across the capital structure of energy infrastructure companies; including common equity, preferred equity, bonds, and MLPs. The fund’s goal is to deliver strong risk-adjusted returns, greater liquidity, and lower volatility relative to the Alerian MLP Index over a market cycle.

About Tortoise MLP & Pipeline Fund

The Tortoise MLP & Pipeline Fund focuses on the large and diverse North American pipeline universe. The fund invests primarily in MLP and pipeline companies that own and operate a network of asset systems that transport, store, distribute, gather and/or process crude oil, refined petroleum products (including biodiesel and ethanol), natural gas or natural gas liquids. The fund is designed to provide access to the sizable pipeline network of one of the world's largest consumers of energy, efficient tax flow-through structure, one 1099 (no K-1s), no unrelated business taxable income (UBTI) and IRA and tax-exempt suitability. 

Disclosures

Nothing contained in this communication constitutes tax, legal, or investment advice. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation.

The funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectus contains this and other important information about the funds and may be obtained by calling 855-TCA-FUND (855-822-3863) or visiting www.tortoiseadvisors.com. Read it carefully before investing.

Investing involves risk; Principal loss is possible. Past performance is no guarantee of future results.

Quasar Distributors, LLC, distributor

Safe Harbor Statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

Contact information:

For more information contact Maggie Zastrow at (913) 981-1020 or info@tortoiseadvisors.com