Tortoise Power and Energy Infrastructure Fund, Inc. Provides Section 19(a) Notice

LEAWOOD, Kan.–(BUSINESS WIRE)–This notice provides stockholders of Tortoise Power and Energy
Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding the
distribution paid on May 31, 2017 and cumulative distributions paid
fiscal year-to-date.

The following table sets forth the estimated amounts of the current
distribution, payable May 31, 2017, 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.

You should not draw any conclusions about TPZ’s investment performance
from the amount of this distribution or from the terms of TPZ’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
TPZ’s investment experience during the remainder of its fiscal year and
may be subject to changes based on tax regulations. TPZ 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 Power and Energy Infrastructure Fund, Inc.

Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) invests in a
portfolio of fixed income and equity securities issued by power and
energy infrastructure companies. TPZ’s objective is to provide
stockholders a high level of current income, with a secondary objective
of capital appreciation.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing
in actively managed essential assets investing including the energy
value chain. As of April 30, 2017, the adviser had approximately $17.0
billion of assets under management in listed closed-end funds, mutual
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 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 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
this forward-looking statement.

Contacts

Tortoise Capital Advisors, L.L.C.
Pam Kearney, 866-362-9331
Investor
and Public Relations
[email protected]