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Tortoise Energy Independence Fund : Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates since May 31, 2023, for TYG, NTG, TTP, NDP and TPZ

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OVERLAND PARK, KS – June 1, 2023 – Tortoise today revealed the following unaudited balance sheet details and possession protection ratio updates for TYG, NTG, TTP, NDP and TPZ.

Tortoise Energy Infrastructure Corp. (NYSE: TYG) today revealed that since May 31, 2023, the business’s unaudited overall properties were around $501.4 million and its unaudited net possession worth was $379.5 million, or $33.49 per share.

As of May 31, 2023, the business’s possession protection ratio under the 1940 Act with regard to senior securities representing insolvency was 625%, and its protection ratio for favored shares was 431%. For more details on the business’s protection ratios, please describe the take advantage of summary websites at https://cef.tortoiseecofin.com.

Set forth listed below is a summary of the business’s unaudited balance sheet at May 31, 2023.

Unaudited balance sheet

(in Millions)

Per Share

Investments

$ 499.2

$ 44.06

Cash and Cash Equivalents

0.3

0.02

Other Assets

1.9

0.17

Total Assets

501.4

44.258

Short-Term Borrowings

7.1

0.62

Senior Notes

71.9

6.35

Preferred Stock

35.7

3.15

Total Leverage

114.7

10.12

Payable for Investments Purchased

1.1

0.10

Other Liabilities

2.8

0.25

Current Tax Liability

3.3

0.29

Net Assets

$ 376.5

$ 33.49

11.33 million typical shares presently exceptional.

Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today revealed that since May 31, 2023, the business’s unaudited overall properties were around $260.7 million and its unaudited net possession worth was $200.0 million, or $37.32 per share.

As of May 31, 2023, the business’s possession protection ratio under the 1940 Act with regard to senior securities representing insolvency was 626%, and its protection ratio for favored shares was 451%. For more details on the business’s protection ratios, please describe the take advantage of summary websites at https://cef.tortoiseecofin.com.

Set forth listed below is a summary of the business’s unaudited balance sheet at May 31, 2023.

Unaudited balance sheet

(in Millions)

Per Share

Investments

$259.0

$ 48.31

Cash and Cash Equivalents

0.3

0.05

Other Assets

1.4

0.26

Total Assets

260.7

48.62

Short-Term Borrowings

8.9

1.66

Senior Notes

32.1

6.00

Preferred Stock

15.9

2.96

Total Leverage

56.9

10.62

Payable for Investments Purchased

0.7

0.13

Other Liability

1.6

0.27

Current Tax Liability

1.5

0.28

Net Assets

$ 200.0

$ 37.32

5.36 million typical shares presently exceptional.

Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today revealed that since May 31, 2023, the business’s unaudited overall properties were around $81.8 million and its unaudited net possession worth was $63.8 million, or $30.13 per share.

As of May 31, 2023, the business’s possession protection ratio under the 1940 Act with regard to senior securities representing insolvency was 716%, and its protection ratio for favored shares was 466%. For more details on the business’s protection ratios, please describe the take advantage of summary websites at https://cef.tortoiseecofin.com.

Set forth listed below is a summary of the business’s unaudited balance sheet at May 31, 2023.

Unaudited balance sheet

(in Millions)

Per Share

Investments

$ 81.0

$38.26

Cash and Cash Equivalents

0.3

0.15

Other Assets

0.5

0.25

Total Assets

81.8

38.66

Short-Term Borrowings

7.4

3.50

Senior Notes

3.9

1.86

Preferred Stock

6.1

2.88

Total Leverage

17.4

8.24

Other Liabilities

0.6

0.29

Net Assets

$ 63.8

$ 30.13

2.12 million typical shares presently exceptional.

Tortoise Energy Independence Fund, Inc.(NYSE: NDP) today revealed that since May 31, 2023, the business’s unaudited overall properties were around $64.4 million and its unaudited net possession worth was $55.3 million, or $31.53 per share.

As of May 31, 2023, the business’s possession protection ratio under the 1940 Act with regard to senior securities representing insolvency was 728%. For more details on the business’s protection ratios, please describe the take advantage of summary websites at https://cef.tortoiseecofin.com.

Set forth listed below is a summary of the business’s unaudited balance sheet at May 31, 2023.

Unaudited balance sheet

(in Millions)

Per Share

Investments

$ 63.7

$ 36.35

Cash and Cash Equivalents

0.4

0.20

Other Assets

0.3

0.19

Total Assets

64.4

36.74

Credit Facility Borrowings

8.8

5.02

Other Liabilities

0.3

0.19

Net Assets

$ 55.3

$ 31.53

1.75 million typical shares presently exceptional.

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today revealed that since May 31, 2023, the business’s unaudited overall properties were around $118.7 million and its unaudited net possession worth was $92.8 million, or $14.97 per share.

As of May 31, 2023, the business’s possession protection ratio under the 1940 Act with regard to senior securities representing insolvency was 467%. For more details on the business’s protection ratios, please describe the take advantage of summary websites at https://cef.tortoiseecofin.com.

Set forth listed below is a summary of the business’s unaudited balance sheet at May 31, 2023.

Unaudited balance sheet

(in Millions)

Per Share

Investments

$ 117.1

$ 18.88

Cash and Cash Equivalents

0.3

0.05

Other Assets

1.3

0.22

Total Assets

118.7

19.15

Credit Facility Borrowings

25.3

4.08

Other Liabilities

0.6

0.10

Net Assets

$ 92.8

$ 14.97

6.20 million typical shares presently exceptional.

The leading 10 holdings for TYG, NTG, TTP, NDP and TPZ since the most recent month-end can be discovered on each fund’s portfolio websites at https://cef.tortoiseecofin.com.

About Tortoise

Tortoise concentrates on energy & power facilities and the shift to cleaner energy. Tortoise’s strong performance history of energy worth chain financial investment experience and research study go back more than twenty years. As an early financier in midstream energy, Tortoise thinks it is well-positioned to be at the leading edge of the international energy development that is underway. With a consistent wins technique and a long-lasting viewpoint, Tortoise makes every effort to make a positive effect on customers and neighborhoods. To learn more, please go to www.TortoiseEcofin.com.

Tortoise Capital Advisors, L.L.C. is the consultant to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc.

For extra details on these funds, please go to cef.tortoiseecofin.com.

Safe harbor declaration

This news release will not make up a deal to offer or a solicitation to purchase, nor will there be any sale of these securities in any state or jurisdiction in which such deal or solicitation or sale would be illegal previous to registration or certification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This news release includes particular declarations that might consist of “positive declarations” within the significance of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All declarations, besides declarations of historic reality, consisted of herein are “positive declarations.” Although the funds and Tortoise Capital Advisors think that the expectations shown in these positive declarations are sensible, they do include presumptions, dangers and unpredictabilities, and these expectations might show to be inaccurate. Actual results might vary materially from those prepared for in these positive declarations as an outcome of a range of elements, consisting of those talked about in the fund’s reports that are submitted with the Securities and Exchange Commission. You must not put excessive dependence on these positive declarations, which speak just since the date of this news release. Other than as needed by law, the funds and Tortoise Capital Advisors do not presume a responsibility to update this positive declaration.

Contact details
For more details contact Eva Lipner at (913) 981-1020 or [email protected].

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