Tortoise Closed-End Funds

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

Company Underlying Asset Mix As of 5/31/2017
By asset type
Crude oil pipelines 33%
Natural gas/natural gas liquids pipelines 25%
Gathering & processing 21%
Oil & gas production 11%
Refined product pipelines 10%
Due to rounding, totals may not equal 100%
By structure
C-corps/LLCs 68%
MLPs 25%
I-shares 4%
Preferred stock 3%
Due to rounding, totals may not equal 100%

Top 10 Holdings *As of 6/30/2017 View All Holdings
Company% of Total   Company% of Total
Enbridge, Inc. ENB 9.2   Targa Resources Corp. TRGP 4.3
Plains GP Holdings, L.P. PAGP 8.6   Enbridge Energy Management, L.L.C. EEQ 3.8
TransCanada Corporation TRP 8.4   The Williams Companies, Inc. WMB 3.6
ONEOK, Inc. OKE 6.3   VTTI Energy Partners LP VTTI 3.6
Energy Transfer Partners, L.P. ETP 4.4   Inter Pipeline Ltd. IPL CA 3.5
Top 10 Holdings as % of Investment Securities: 55.7%

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