Update on Tortoise Power and Energy Infrastructure Fund, Inc.’s Distribution Declarations and Annual Stockholders’ Meeting

LEAWOOD, KS--(BUSINESS WIRE)--This notice provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with updated information from the distribution announcement of May 7, 2020. The Board has established a $0.05 per share monthly distribution expected to be paid on the last business day of each month. For more information on distributions and future declarations, please visit the fund’s distribution page here.

Tortoise’s 2020 TYG, TPZ, NTG, TTP, NDP and TEAF Combined Annual Stockholders’ Meeting will be held on Tuesday, June 16, 2020 at 10 a.m. CDT at Tortoise’s headquarters. For stockholders interested in dialing in, please dial 415-655-0003, access code 133 069 4642. Please send any questions in advance to info@tortoiseadvisors.com by noon CDT on Monday, June 15, 2020.

About Tortoise

Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.tortoiseadvisors.com.

Tortoise Capital Advisors, L.L.C. is the Adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc., Tortoise Power and Energy Infrastructure Fund, Inc. and Tortoise Essential Assets Income Term Fund. Tortoise Advisors UK Limited is a subadvisor to Tortoise Essential Assets Income Term Fund.

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.

Maggie Zastrow, (913) 981-1020
info@tortoiseadvisors.com