Tortoise Closed-End Funds

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

Company Underlying Asset Mix As of 2/28/2017
By asset type
Crude oil pipelines 36%
Natural gas/natural gas liquids pipelines 23%
Gathering & processing 22%
Oil & gas production 11%
Refined product pipelines 8%
Due to rounding, totals may not equal 100%
By structure
C-Corps/LLCs 67%
MLPs 26%
I-shares 4%
Preferred stock 3%
Due to rounding, totals may not equal 100%

Top 10 Holdings *As of 3/31/2017 View All Holdings
Company% of Total   Company% of Total
Enbridge Inc. ENB 8.8   Enbridge Energy Management, LLC EEQ 4.1
Plains GP Holdings LP PAGP 8.0   Energy Transfer Partners, L.P. ETP 3.5
TransCanada Corporation TRP 7.4   Inter Pipeline Ltd. IPL CA 3.5
ONEOK, Inc. OKE 6.1   EnLink Midstream LLC ENLC 3.4
Targa Resources Corp. TRGP 5.2   Williams Partners LP WPZ 3.2
Top 10 Holdings as % of Investment Securities: 53.2%

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