Tortoise Launches Water Exchange Traded Fund (TBLU)

Tortoise Index Solutions, part of the Tortoise family, today announced
the launch of the Tortoise Water Fund (TBLU). TBLU is an ETF
designed to track the total return of the Tortoise Water Index^SM,
which is comprised of companies that are substantially engaged in the
water infrastructure and water management industries.

“Water is critical for economic growth and social stability. We believe
that there is a tremendous need in the market for a quality index that
accurately represents the water industry,” said Jeremy Goff, Tortoise
director. “Creating this product is a natural extension of our strategy
to provide essential asset solutions in wrappers that are desired by
advisors and investors.”

TBLU will employ a passive approach to provide exposure to water
infrastructure, management and treatment companies that appear poised to
benefit from the expected and much needed investment to rebuild existing
infrastructure, construct new infrastructure and better manage and
enhance the sustainability of this vital, but finite resource.

“We believe that our fund offers the purest exposure to the water
industry by tracking an index that incorporates fundamental weighting
factors that recognize and adjust for the fragmented nature of the water
space,” said Matthew Weglarz, portfolio manager for the fund. “The
urgent need for investment in this essential asset, and the
infrastructure that supports it, is becoming increasingly recognized and
our fund provides a more direct way for investors to access the
opportunity.”

TBLU is the second ETF offering from Tortoise Index Solutions. Its first
offering, Tortoise North American Pipeline Fund (TPYP), provides access
to the sizable pipeline network of one of the world’s largest consumers
of energy. The full suite of indices include: Tortoise Water Index^SM
(TBLUE/TBLUET), Tortoise MLP Index^® (TMLP/TMLPT),
Tortoise North American Pipeline Index^SM (TNAP/TNAPT),
Tortoise Oil & Gas Producers Index^SM (TNEP/TNEPT) and
Tortoise Real Yield^® Index (TYLD/TYLDT).

Tortoise Index Solutions

Tortoise Index Solutions provides research-driven indices that can be
used as a realistic basis for exchange-traded products and thought
leadership in the universe of essential assets. Its indices are intended
to fill a void in the market and provide benchmarks and investible asset
class universes for use by investment professionals, research analysts
and industry executives to analyze relative performance, as well as to
provide a basis for passively managed exchange-traded products. Tortoise
Index Solutions, LLC is part of the Tortoise Investments family, which
had approximately $20.5 billion of assets under advisement through its
family of registered advisers as of Dec. 31, 2016. For more information
about Tortoise Index Solutions, LLC visit www.tortoiseindexsolutions.com
or www.tortoiseinvest.com

Tortoise Water Index^SM

The Tortoise Water Index^SM is a float-adjusted, modified
market capitalization-weighted index comprised of companies that are
materially engaged in the water infrastructure or water management
industries. Water infrastructure companies provide public water
distribution or supporting water distribution infrastructure via
equipment or engineering and construction. Water management companies
provide technologies or products that manage or facilitate water
distribution and usage, including the fields of water efficiency, water
treatment and irrigation.

The Tortoise MLP Index^® is a float-adjusted,
capitalization-weighted index of energy master limited partnerships
(MLPs). The index is comprised of publicly traded companies organized in
the form of limited partnerships or limited liability companies engaged
in transportation, production, processing and/or storage of energy
commodities. The Tortoise North American Pipeline Index^SM is
a float-adjusted, capitalization weighted index of pipeline companies
headquartered in the United States and Canada. 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 Tortoise Real Yield^®
Index is a new differentiated index that aims to track real asset
exposure anchored in current income. It provides an efficient benchmark
for real yielding, tax pass-through, liquid companies that distribute
substantial cash flow streams to investors by investing in REITs (real
estate investment trusts), MLPs (master limited partnerships) and BDCs
(business development companies).

Forward-Looking Statement

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 fund and Tortoise
Index Solutions 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 funds’ 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 fund and Tortoise
Index Solutions 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.

Disclosures

The fund’s investment objective, risks, charges and expenses must be
considered carefully before investing. The summary and statutory
prospectus contains this and other important information about the fund
and may be obtained by calling 844-TR-INDEX (844-874-6339) or visiting www.tortoiseindexsolutions.com.
Read it carefully before investing.

Shares of Exchange Traded Funds (ETFs) are not individually
redeemable and owners of the shares may acquire those shares from the
ETF and tender those shares for redemption to the ETF in Creation Units
only, see the ETF prospectus for additional information regarding
Creation Units. Investors may purchase or sell ETF shares throughout the
day through any brokerage account, which will result in typical
brokerage commissions.

Investing involves risk. Principal loss is possible. The fund is
non-diversified, meaning it may concentrate its assets in fewer
individual holdings than a diversified fund. Therefore, the fund is more
exposed to individual stock volatility than a diversified fund.
Investing in specific sectors such as energy pipelines may involve
greater risk and volatility than less concentrated investments. The fund
is not actively managed and therefore the fund generally will not sell a
security due to current or projected underperformance of a security,
industry or sector, unless that security is removed from the index or
the selling of the security is otherwise required upon a rebalancing of
the index. There is no guarantee that the fund will achieve a high
degree of correlation to the index and therefore achieve its investment
objective. Shares may trade at prices different than net asset value per
share.

TBLU:

Investment in the water infrastructure and management industry may
significantly affect the value of the shares of the fund. Companies in
the water industry are subject to environmental considerations, taxes,
government regulation, price and supply fluctuations, competition and
water conservation influences. Investments in non-U.S. companies
(including Canadian issuers) involve risk not ordinarily associated with
investments in securities and instruments of U.S. issuers, including
risks related to political, social and economic developments abroad,
differences between U.S. and foreign regulatory and accounting
requirements, tax risk and market practices, as well as fluctuations in
foreign currencies. The fund invests in small and mid-cap companies,
which involve additional risks such as limited liquidity and greater
volatility than larger companies. The fund has elected to be, and
intends to qualify each year for treatment as, a Regulated Investment
Company (RIC). To maintain the fund’s qualification for federal income
tax treatment as a RIC, the fund must meet certain source-of-income,
asset diversification and annual distribution requirements. If for any
taxable year the fund fails to qualify for the special federal income
tax treatment afforded to RICs, all of the fund’s taxable income will be
subject to federal income tax at regular corporate rates (without any
deduction for distributions to its shareholders) and its income
available for distribution will be reduced. Derivatives involve risks
different from, and in certain cases, greater than the risks presented
by more traditional investments.

TPYP:

Risks include, but are not limited to, risks associated with
companies owning and/or operating energy pipelines, as well as Master
Limited Partnerships (MLPs), MLP affiliates, capital markets, terrorism,
natural disasters, climate change, operating, regulatory, environmental,
supply and demand, and price volatility risks. The tax benefits received
by an investor investing in the fund differ from that of a direct
investment in an MLP by an investor. The value of the fund’s investment
in an MLP will depend largely on the MLP’s treatment as a partnership
for U.S. federal income tax purposes. If the MLP is deemed to be a
corporation then its income would be subject to federal taxation,
reducing the amount of cash available for distribution to the fund which
could result in a reduction of the fund’s value. Investments in non-U.S.
companies (including Canadian issuers) involve risk not ordinarily
associated with investments in securities and instruments of U.S.
issuers, including risks related to political, social and economic
developments abroad, differences between U.S. and foreign regulatory and
accounting requirements, tax risk and market practices, as well as
fluctuations in foreign currencies. The fund invests in small and midcap
companies, which involve additional risks such as limited liquidity and
greater volatility than larger companies.

This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any state.

The Tortoise Water Index^SM, Tortoise MLP Index^®,
Tortoise North American Pipeline Index^SM and Tortoise Oil&
Gas Producers^SM Index are the exclusive property of Tortoise
Index Solutions, LLC, which has contracted with S&P Opco, LLC (a
subsidiary of S&P Dow Jones Indices) to calculate and maintain the
Index. The Index is not sponsored by S&P Dow Jones Indices or its
affiliates or its third party licensors (collectively, “S&P Dow Jones
Indices LLC”). S&P Dow Jones Indices will not be liable for any errors
or omission in calculating the Index. “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”). No portion of this publication may be
reproduced in any format or by any means including electronically or
mechanically, by photocopying, or by any other form or manner
whatsoever, without the prior written consent of Tortoise Index
Solutions, LLC. It is not possible to invest directly in an index.

The Tortoise Real Yield^® Index is calculated by NYSE or its
affiliates (“NYSE”). NYSE MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND
HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE WITH RESPECT TO THE TORTOISE REAL YIELD^® INDEX
OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL NYSE HAVE ANY LIABILITY
FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES (INCLUDING
LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Nothing on this fact sheet should be considered a solicitation to buy or
an offer to sell any shares of the portfolio in any jurisdiction where
the offer or solicitation would be unlawful under the securities laws of
such jurisdiction. Nothing contained in this communication constitutes
tax, legal or investment advice. Investors must consult their tax
adviser or legal counsel for advice and information concerning their
particular situation.

Quasar Distributors, LLC, distributor for TBLU. Quasar Distributors, LLC
is not affiliated with Foreside Fund Services, LLC.

Foreside Fund Services, LLC, Distributor for TPYP

• NOT FDIC INSURED
• NO BANK GUARANTEE
• MAY LOSE VALUE

View source version on businesswire.com: http://www.businesswire.com/news/home/20170214006535/en/

Source: Business Wire
(February 14, 2017 - 8:00 PM EST)

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