Tortoise Closed-End Funds

Pipeline & Energy Fund, Inc. (NYSE: TTP)

Company Underlying Asset Mix As of 11/30/2017
By asset type
Crude oil pipelines 34%
Natural gas/natural gas liquids pipelines 26%
Gathering and processing 21%
Oil and gas production 12%
Refined product pipelines 7%
Due to rounding, totals may not equal 100%
By structure
C-corps/LLCs 68%
MLPs 24%
I-shares 5%
Preferred stock 3%
Due to rounding, totals may not equal 100%

Top 10 Holdings *As of 12/31/2017 View All Holdings
Company% of Total   Company% of Total
ONEOK, Inc. OKE 7.6   Enbridge Energy Management, L.L.C. EEQ 4.7
Plains GP Holdings, L.P. PAGP 7.4   Energy Transfer Partners, L.P. ETP 4.7
Enbridge Inc. ENB 7.2   The Williams Companies, Inc. WMB 4.6
TransCanada Corporation TRP 7.1   SemGroup Corporation SEMG 4.2
Targa Resources Corp. TRGP 5.0   Tallgrass Energy GP, LP TEGP 3.9
Top 10 Holdings as % of Investment Securities: 56.4%

* Fund holdings are subject to change and are not recommendations to buy or sell any security.