10/09/2019 TCLOUD TGWESG Indices

Tortoise Announces Expected Constituent Changes Due to Merger and Acquisition Activity

FOR IMMEDIATE RELEASE

LEAWOOD, Kan. – Oct. 9, 2019 – Tortoise today announced that Carbon Black, Inc. (NASDAQ: CBLK) will  be removed from Tortoise Global Cloud Infrastructure IndexSM, effective Oct. 11, 2019, as a result of the completion of the acquisition by VMware, Inc. (NYSE: VMW) on Oct. 8, 2019.

Connecticut Water Service, Inc. (NASDAQ:CTWS), will be removed from the Tortoise Global Water ESG Total Return IndexSM, effective Oct. 11, 2019 following the completion of the merger with SJW Group (NYSE: SJW) on Oct. 9, 2019.

About Tortoise

Tortoise invests in assets and services that serve essential needs in society and can also serve essential client needs, such as diversification and income. Tortoise’s actively researched indices fill a void in the essential asset universe and provide a platform for passively managed exchange-traded products. Through a variety of investment vehicles, Tortoise provides access to a wide range of client solutions, focused on their evolving needs. For more information, please visit www.tortoiseadvisors.com.

The Tortoise Global Cloud Infrastructure IndexSM represents the existing global cloud infrastructure landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the cloud infrastructure industry, including cloud systems/ services, cloud management software, cloud hosting, cloud security, cloud hardware and cloud data centers.

The index mentioned above is the exclusive property of Tortoise Index Solutions, LLC and are calculated by Solactive AG (“Solactive”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG (“Solactive”) in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.

The Tortoise Global Water ESG Total Return IndexSM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.

The index mentioned is the exclusive property of Tortoise Index Solutions, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline IndexSM, Tortoise North American Oil and Gas Producers IndexSM, Tortoise Water Index SM and Tortoise Global Water ESG IndexSM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”).  S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices.  “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Tortoise Index Solutions, LLC and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).

This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. Tortoise makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.

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.

Contact Information

Tortoise

Pam Kearney, Investor and Media Relations, 844-872-1562, info@tortoiseadvisors.com