Tortoise Capital's AI Infrastructure ETF (TCAI), Surpasses $100 Million in Assets, Fueled by Strong Performance and Growing Investor Demand

Overland Park, Kansas--(Newsfile Corp. - April 29, 2026) - Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy and infrastructure investing, today announced that the Tortoise AI Infrastructure ETF (NYSE: TCAI) has surpassed $100 million in assets under management, marking a significant milestone for the fund as investor interest in artificial intelligence (AI) and the infrastructure powering it continues to accelerate.

Strong Momentum Since Launch
Since launching in August of 2025, TCAI has quickly attracted advisors and investors looking for targeted exposure to the companies building and enabling the AI industry, from data centers and energy providers to semiconductor and connectivity infrastructure.

The fund's momentum has been supported by its strong performance, delivering a +76% cumulative return on both NAV and market price since inception on August 4, 2025, as of April 24, 2026. In comparison, the S&P 500 Index has returned 15% over the same period, based on Bloomberg data.

TCAI Standardized Performance (as of March 31, 2026)

The performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. NAV prices are used to calculate market price performance prior to the date when the fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. For the fund's most recent month end performance, please call (855) 994-4437. As stated in the Prospectus, the total annual operating expenses are 0.65%.

Why AI Infrastructure
"This is an exciting milestone coupled with strong returns for our investors, but more importantly, it reflects a broader shift we're seeing in how investors are thinking about AI," said Tom Florence, CEO of Tortoise Capital. "AI can't run on code alone. It's the physical and digital infrastructure that makes it all possible. TCAI was built to capture that opportunity, and it's rewarding to see our thesis resonate so quickly in the market."

The rapid growth of TCAI comes as investment in AI infrastructure continues to accelerate, driven by rising demand for electricity, expanding data center capacity, and ongoing buildout across digital and energy networks. Tortoise's differentiated approach, which focuses on the "picks and shovels" of AI, has positioned the ETF as a compelling option for investors looking for near-and long-term exposure to the theme.

"Leveraging our energy and infrastructure expertise, we designed TCAI to give investors a more complete way to access the AI story," said Mark Marifian, Head of Product at Tortoise Capital. "What's been especially encouraging is how quickly advisors have embraced the infrastructure angle. They understand that behind every breakthrough in AI is a massive buildout of real-world assets and that's where we're focused."

The fund's growth also reflects increasing adoption among financial advisors and investors seeking differentiated ways to position portfolios for long-term structural trends.

"What we're hearing from clients is clear, they want exposure to AI, but they also want diversification and durability," said Brett Wright, Chief Revenue Officer. "TCAI offers a way to participate in AI, what we view as the fourth industrial revolution, while investing in companies with strong assets and cash flow. Reaching the $100 million mark this quickly speaks to the strength of that opportunity and our incredible portfolio management team."

Fund Overview & Details
As AI continues to reshape industries and drive global investment, Tortoise Capital believes infrastructure will remain a critical and investable area of opportunity.

TCAI provides investors with a comprehensive way to participate in the long-term, secular growth of AI by investing in the enabling infrastructure that makes AI possible.

• Ticker: TCAI
• Exchange: NYSE
• Inception Date: August 4, 2025
• Expense Ratio: 0.65%
• Strategy: Actively managed ETF focused on AI infrastructure

To learn more about TCAI and Tortoise Capital please visit www.tortoisecapital.com.

About Tortoise Capital
With approximately $10.8 billion in assets under management as of March 31, 2026, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well-positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered investment adviser who manages funds that invest primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit www.tortoisecapital.com.

Important Information
Tortoise Capital Advisors, LLC is the advisor to the Tortoise AI Infrastructure ETF.

For the fund's standardized performance, please visit the fund's webpage here.

The fund has a limited operating history, which may make it more difficult to evaluate the fund's performance and assess the risks associated with investing in the fund. Short-term performance in particular, should not be the sole basis for evaluating an investment.

Nothing in this press release should be considered a solicitation to buy or an offer to sell any shares of the portfolio in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation.

Before investing in the funds, investors should consider their investment goals, time horizons and risk tolerance. The funds' investment objective, risks, charges and expenses must be considered carefully before investing. The statutory prospectuses and the summary prospectuses (click here) contain this and other important information about the funds. Copies of the funds' prospectus may be obtained by calling 855-994-4437 or by emailing info@tortoisecapital.com. Read it carefully before investing.

Investing involves risk. Principal loss is possible. Because the fund is "non-diversified" and may invest a greater percentage of its assets in the securities of a single issuer, a decline in the value of an investment in a single issuer could cause the fund's overall value to decline to a greater degree than if the fund held a more diversified portfolio. The fund's strategy of emphasizing investments in AI infrastructure companies means that the performance of the fund will be closely tied to the performance of one or more industries that are expected to benefit from the growth of AI-capable data centers and related technology and energy infrastructure. Investing in companies that are expected to benefit from the same macro theme means that some of the fund's investments may be similarly affected by certain market, economic, political, or social developments. Companies in the energy infrastructure sector are subject to many risks that can negatively impact the revenues and viability of companies in this sector, including, but not limited to risks associated with companies owning and/or operating pipelines, gathering and processing assets, power infrastructure, propane assets, as well as capital markets, terrorism, natural disasters, climate change, operating, regulatory, environmental, supply and demand, and price volatility risks. Companies in the technology infrastructure sector are subject to many risks that can negatively impact the revenues and viability of companies in this sector, including, but not limited to risks associated with emerging technology that renders existing products or services obsolete, reliance on outdated technology, intellectual property theft, supply chain disruption, vulnerabilities to third-party vendors and suppliers, business interruption, difficulty in retaining skilled talent, and regulatory compliance. Companies in the industrial sector face a variety of risks, including commodity price volatility, supply chain disruptions, potential obsolescence of technologies, economic downturns, and increasing competition.

Investment advisers, including the Adviser, must rely in part on digital and network technologies (collectively "cyber networks") to conduct their businesses. Derivatives include instruments and contracts that are based on and valued in relation to one or more underlying securities, financial benchmarks, indices, or other reference obligations or measures of value. If the fund writes a covered call option, during the option's life the fund gives up the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but retains the risk of loss should the price of the underlying security decline. Investments in securities of foreign companies involve risks not ordinarily associated with investments in securities and instruments of U.S. issuers, including risks relating to political, social and economic developments abroad, differences between U.S. and foreign regulatory and accounting requirements, tax risks, and market practices, as well as fluctuations in foreign currencies.

The fund may be exposed to liquidity risk when trading volume, lack of a market maker, or legal restrictions impair the fund's ability to sell particular securities or close call option positions at an advantageous price or in a timely manner. Illiquid investments may include restricted securities that cannot be sold immediately because of statutory and contractual restrictions on resale. Mid-cap and small-cap companies may not have the management experience, financial resources, product or business diversification and competitive strengths of large cap companies.

Shares of exchange-traded funds (ETFs) are not individually redeemable and owners of the shares may acquire those shares from the ETF and tender those shares for redemption to the ETF in Creation Units only, see the ETF prospectus for additional information regarding Creation Units. Investors may purchase or sell ETF shares throughout the day through any brokerage account, which will result in typical brokerage commissions.

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