Tortoise Announces Constituent Changes Due to Merger and Acquisition Activity

Tortoise today announced that Jagged Peak Energy Inc. (NYSE: JAG) will be removed from the Tortoise North American Oil & Gas Producers Index^SM (TNEP) following the completion of the acquisition by Parsley Energy, Inc. (NYSE: PE). JAG will be removed from TNEP at market open on Monday, Jan. 13, 2020.

SRC Energy Inc. (NYSE: SRCI), will be removed from the Tortoise North American Oil & Gas Producers Index^SM (TNEP), effective at market open on Jan. 15, 2020, following the completion of the acquisition by PDC Energy, Inc. (NASDAQ: PDCE), expected to close on Wednesday, Jan. 15, 2020.

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 North American Oil & Gas Producers Index^SM is a float-adjusted, capitalization weighted index of North American energy companies primarily engaged in the production of crude oil, condensate, natural gas or natural gas liquids (NGLs). The index includes exploration and production companies structured as corporations, limited liability companies, and master limited partnerships, but excludes United States royalty trusts.

The index mentioned above 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 Index^SM, Tortoise North American Oil and Gas Producers Index^SM, Tortoise Global Water ESG Index^SM (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.

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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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