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    Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc. Provide Section 19(a) Notice

    11/29/24 4:00:00 PM ET
    $TPZ
    $TTP
    Investment Managers
    Finance
    Trusts Except Educational Religious and Charitable
    Finance
    Get the next $TPZ alert in real time by email

    OVERLAND PARK, KS / ACCESSWIRE / November 29, 2024 / This required notice under Section 19(a) of the Investment Company Act of 1940 provides stockholders of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the sources of the distributions paid on Nov. 29, 2024, and cumulative distributions paid fiscal year-to-date.

    The following table sets forth the estimated amounts of the current distributions, payable Nov. 29, 2024, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.

    Tortoise Pipeline & Energy Fund, Inc.

    Estimated Sources of Distributions

    ($) Current Distribution

    % Breakdown of the Current Distribution

    ($) Total Cumulative Distributions for the Fiscal Year to Date

    % Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date

    Net Investment Income

    0.0915

    16%

    0.4492

    19%

    Net Realized Short-Term Capital Gains

    0.0000

    0%

    0.0000

    0%

    Net Realized Long-Term Capital Gains

    0.0000

    0%

    0.0000

    0%

    Return of Capital

    0.4985

    84%

    1.9108

    81%

    Total (per common share)

    0.5900

    100%

    2.3600

    100%

    Average annual total return (in relation to NAV) for the five years ending on October 31, 2024

    3.30%

    Annualized current distribution rate expressed as a percentage of NAV as of October 31, 2024

    5.15%

    Cumulative total return (in relation to NAV) for the fiscal year through October 31, 2024

    39.34%

    Cumulative fiscal year distributions as a percentage of NAV as of October 31, 2024

    5.15%

    Tortoise Power and Energy Infrastructure Fund, Inc.

    Estimated Sources of Distributions

    ($) Current Distribution

    % Breakdown of the Current Distribution

    ($) Total Cumulative Distributions for the Fiscal Year to Date

    % Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date

    Net Investment Income

    0.0256

    24%

    0.2961

    24%

    Net Realized Short-Term Capital Gains

    0.0000

    0%

    0.0000

    0%

    Net Realized Long-Term Capital Gains

    0.0000

    0%

    0.0000

    0%

    Return of Capital

    0.0794

    76%

    0.9639

    76%

    Total (per common share)

    0.1050

    100%

    1.2600

    100%

    Average annual total return (in relation to NAV) for the five years ending on October 31, 2024

    9.12%

    Annualized current distribution rate expressed as a percentage of NAV as of October 31, 2024

    6.58%

    Cumulative total return (in relation to NAV) for the fiscal year through October 31, 2024

    26.76%

    Cumulative fiscal year distributions as a percentage of NAV as of October 31, 2024

    6.58%

    You should not draw any conclusions about TTP's or TPZ's investment performance from the amount of this distribution or from the terms of TTP's and TPZ's distribution policies.

    TTP and TPZ estimate that they have distributed more than their income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TTP and/or TPZ is paid back to you. A return of capital distribution does not necessarily reflect TTP's and/or TPZ's investment performance and should not be confused with "yield" or "income."

    The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TTP's and TPZ's investment experience during the remainder of their fiscal years and may be subject to changes based on tax regulations. TTP and/or TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

    Tortoise Capital Advisors is the Adviser to the Tortoise Pipeline & Energy Fund, Inc. and the Tortoise Power and Energy Infrastructure Fund, Inc.

    For additional information on these funds, please visit cef.tortoiseadvisors.com.

    About Tortoise Capital

    With approximately $8.8 billion in assets under management as of October 31, 2024, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well-

    positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered fund manager that invests primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit www.TortoiseAdvisors.com.

    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.

    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.

    Media Contacts

    Margaret Kirch Cohen/Richard Chimberg
    Newton Park PR
    +1 847-507-2229
    +1 617-312-4281
    [email protected]
    [email protected]

    SOURCE: Tortoise Capital



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    Q&A

    New
    • What are the current distribution amounts per share for TTP and TPZ?

      The current distribution amount for Tortoise Pipeline & Energy Fund, Inc. (TTP) is $0.5900 per share, and for Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) it is $0.1050 per share.

    • What are the primary sources of the current distributions for TTP and TPZ?

      The main source of distributions for TTP is a return of capital, comprising 84% of the current distribution, while for TPZ, it accounts for 76%.

    • What are the average annual total returns for TTP and TPZ as of the end of October 2024?

      As of October 31, 2024, the average annual total return for TTP is 3.30% and for TPZ it is 9.12%.

    • What is the annualized current distribution rate as a percentage of NAV for TTP and TPZ?

      As of October 31, 2024, the annualized current distribution rate expressed as a percentage of NAV for TTP is 5.15%, and for TPZ, it is 6.58%.

    • What are the cumulative total returns for TTP and TPZ for the fiscal year ending October 31, 2024?

      The cumulative total return for TTP for the fiscal year through October 31, 2024, is 39.34%, while for TPZ, it is 26.76%.

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