Tortoise announces expected constituent changes due to merger and acquisition activity

For Tortoise MLP Index® (TMLP), should the EQM merger be approved, the removal of EQM from the index will trigger a special rebalancing.

For Tortoise North American Pipeline IndexSM (TNAP), should the EQM merger be approved, EQM will be removed from the index, but will not require a special rebalancing.

Special rebalancings in TMLP are triggered by corporate actions such as mergers, bankruptcies, and liquidations, in which the resulting weight of a single constituent exceeds the index’s 7.5% threshold and the target constituent weight exceeds certain weighting thresholds. Implementation of special rebalancings will be made in accordance with existing methodologies.