TEAF Overview

Tortoise Energy Infrastructure Financials: As of September 30, 2025, Tortoise Energy Infrastructure reported total assets of approximately $1.1 billion and a net asset value (NAV) of $810.3 million, equating to $47.01 per share, with a senior securities indebtedness of 637% and a preferred shares coverage ratio of 447%.

Tortoise Sustainable and Social Impact Term Fund Financials: The Tortoise Sustainable and Social Impact Term Fund announced total assets of about $214.7 million and an NAV of $178.4 million, or $13.22 per share, with a senior securities indebtedness of 605%.

Overall AUM for Tortoise Capital: Tortoise Capital had approximately $9.1 billion in assets under management (AUM) as of August 31, 2025.

Market Insights: The TYG fund is expected to potentially increase distributions by 30% due to a merger, while losses in renewables are being offset by strength in midstream operations.

Tortoise Energy Infrastructure Corporation (TYG): Reported a decrease in total assets to ~$1.01B and net asset value (NAV) to $788.7M ($45.76 per share) as of August 29, down from ~$1.03B and $815.9M ($47.34 per share) at the end of July.

Tortoise Sustainable and Social Impact Term Fund (TEAF): Also experienced a decline in assets to about $213.9M and NAV to $178.0M ($13.20 per share) by August 29, compared to ~$215.9M and $180.6M ($13.39 per share) at the end of July.

Merger Announcement: Tortoise Capital Advisors plans to merge its Tortoise Sustainable and Social Impact Term Fund (TEAF) into Tortoise Energy Infrastructure Corp. (TYG), enhancing operational efficiency and scale while maintaining TYG's investment strategy focused on energy infrastructure.

Future Plans and Updates: The merger, expected to complete in the second half of 2025, will also involve a 30% increase in distributions for TYG, with ongoing negotiations for TEAF's private renewables portfolio sale aimed at reinvesting proceeds in energy infrastructure securities.

Tortoise Capital Fund Updates: Tortoise Capital announced unaudited balance sheet information for its closed-end funds, TYG and TEAF, as of May 30, 2025, reporting total assets of approximately $969.2 million for TYG and $209.2 million for TEAF, with respective net asset values of $772.2 million ($44.80 per share) and $177.0 million ($13.12 per share).

Asset Coverage Ratios: The asset coverage ratios for TYG were reported at 679% for senior securities and 515% for preferred shares, while TEAF's ratio was 664% for senior securities, indicating strong financial leverage and stability for both funds.