Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy investing, today announced the completion of the merger between Tortoise Sustainable and Social Impact Term Fund (NYSE: TEAF) and Tortoise Energy Infrastructure Corp. (NYSE: TYG) with TYG emerging as the continuing fund. As of Nov. 7, 2025, the combined total assets under management (AUM) of TYG were $1.3 billion.

Under the terms of the merger, TYG acquired all assets and liabilities of TEAF. Shares of TEAF were converted into newly issued TYG shares based on their respective net asset values as of Nov. 7, 2025, at an exchange ratio of 0.2882637.

TYG will maintain its original investment strategy and objective of seeking a high level of total return, with an emphasis on current distributions. The fund offers investors access to infrastructure across the energy value chain, from natural gas and power generation to renewables and grid assets. The portfolio is well positioned to capitalize on the accelerating demand for electrification. The fund remains Tortoise Capital’s flagship closed-end fund solution for investors seeking energy exposure in a closed-end structure.

“This successful merger reinforces our commitment to delivering long-term value and simplicity for shareholders,” said Tom Florence, Chief Executive Officer and Chairman of Tortoise Capital. “By combining TEAF and TYG, we’ve created a larger, more efficient platform designed to enhance investor outcomes while maintaining our focus on the energy infrastructure powering the current and future economy.”

The transaction reflects Tortoise Capital’s ongoing focus on aligning fund structures with investor objectives, enhancing scale and efficiency while providing a seamless transition for shareholders.

About Tortoise Capital

With approximately $9.2 billion in assets under management as of September 30, 2025, 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 investment adviser who manages funds that invest 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.tortoisecapital.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.

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