Tortoise MLP Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of March 31, 2018

LEAWOOD, Kan.–(BUSINESS WIRE)–Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of March 31,
2018, the company’s unaudited total assets were approximately $1.2
billion and its unaudited net asset value was $705.5 million, or $14.91
per share.

As of March 31, 2018, the company was in compliance with its asset
coverage ratios under the Investment Company Act of 1940 (the 1940 Act)
and basic maintenance covenants. The company’s asset coverage ratio
under the 1940 Act with respect to senior securities representing
indebtedness was 348 percent, and its coverage ratio for preferred
shares was 261 percent. For more information on calculation of coverage
ratios, please refer to the company’s most recent applicable prospectus.

Set forth below is a summary of the company’s unaudited balance sheet at
March 31, 2018 and a summary of its top 10 holdings.

Unaudited balance sheet

47.33 million common shares currently outstanding.

Top 10 holdings (as of March 31, 2018)

2nd Quarter 2018 Energy Value Chain Conference Call

Tortoise will host its second quarter 2018 conference call on April 25,
2018 at 3 p.m. Central to discuss the energy sector and provide an
update on the energy value chain and Tortoise’s investment outlook.

Toll Free Dial-In Number: (877) 407-9210
Replay Number: (877)
481-4010
Replay ID: #21458 (available through May 25, 2018)

About Tortoise MLP Fund, Inc.

Tortoise MLP Fund, Inc. (NYSE: NTG) owns a portfolio of master limited
partnership (MLP) investments in the energy infrastructure sector, with
an emphasis on natural gas infrastructure MLPs. Tortoise MLP Fund,
Inc.’s objective is to provide its stockholders a high level of total
return with an emphasis on current distributions.

About Tortoise

Tortoise specializes in essential assets and income. 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 energy investing expertise across the energy value chain,
including infrastructure and MLPs, dates back more than 15 years.
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.

Tortoise Capital Advisors is the Adviser to the Tortoise MLP Fund, Inc.

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.

Contacts

Tortoise
Pam Kearney, 866-362-9331
Investor and Public
Relations
[email protected]