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Tortoise Pipeline & Energy Fund, Inc. Provides Section 19(a) Notice

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This notice provides stockholders of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) with information regarding the distribution paid on Feb. 27, 2015 and cumulative distributions paid fiscal year-to-date.

The following table sets forth the estimated amounts of the current distribution, payable Feb. 27, 2015, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.

Estimated Sources of Distributions

($) Current
Distribution

% Breakdown
of the Current
Distribution

($) Total Cumulative
Distributions for the
Fiscal Year to Date

% Breakdown of the
Total Cumulative
Distributions for the
Fiscal Year to Date

Net Investment Income 0.0869 19% 0.0869 14%
Net Realized Short-Term Capital Gains 0.0456 10% 0.0456 8%
Net Realized Long-Term Capital Gains 0.3175 71% 0.4675 78%
Return of Capital 0.0000 0% 0.0000 0%
Total (per common share) 0.4500 100% 0.6000 100%
Average annual total return (in relation to NAV) from commencement of operations through 1/31/2015 15.51%
Annualized current distribution rate expressed as a percentage of NAV as of 1/31/2015 5.66%
Cumulative total return (in relation to NAV) for the fiscal year through 1/31/2015 -8.84%
Cumulative fiscal year distributions as a percentage of NAV as of 1/31/2015 1.89%

You should not draw any conclusions about TTP’s investment performance from the amount of this distribution or from the terms of TTP’s distribution policy.

The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TTP’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TTP will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

About Tortoise Pipeline & Energy Fund, Inc.

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) is a non-diversified, closed-end management investment company that seeks to obtain a high level of total return with an emphasis on current distributions. TTP invests primarily in equity securities of pipeline companies that transport natural gas, natural gas liquids (NGLs), crude oil and refined products and, to a lesser extent, in other energy infrastructure companies.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. As of Jan. 31, 2015, the adviser had approximately $16.9 billion of assets under management in NYSE-listed closed-end funds, open-end funds, private funds and separate accounts. For more information, visit www.tortoiseadvisors.com.

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.

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 Company and Tortoise Capital Advisors believe 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 Company’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 Company and Tortoise Capital Advisors do not assume a duty to update any forward-looking statement.

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