ENI.UN Energy Income Fund

The Energy Income Fund (TSX: ENI.UN) is excited to announce Artemis Investment Management Limited ("Artemis") as its new investment manager effective June 20, 2024. This update follows the recent filing of the new investment management agreement with SEDAR+.

This strategic change, involving the replacement of the previous investment fund manager, Vestcap Investment Management Inc. ("Vestcap"), is in pursuit of the Fund's revised investment strategies and objectives. The agreement with Vestcap, effective since August 22, 2013, will consequently be concluded. The transition details have been communicated to the Fund’s custodian, RBC Investor Services Trust, ensuring a seamless changeover.

Additionally, Artemis is pleased to announce the engagement of ARS Investment Partners, LLC ("ARS"), a Delaware-based firm, as a sub-advisor to assist in investment management and portfolio advisory services, effective June 20, 2024. Artemis will cover all sub-advisory fees associated with this arrangement.

For additional information, please contact Artemis Investment Management Limited’s investor relations at (416) 934-7455, email info@artemisfunds.ca, or visit www.artemisfunds.ca.

Forward-Looking Statements

Certain statements in this press release are “forward-looking” within the meaning of applicable Canadian securities laws, including but not limited to statements about the redemption offer and matters relating thereto. Forward‐looking statements are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “in the event”, “if”, “believes”, “asserts”, “position”, “intends”, “envisages”, “assumes”, “recommends”, “estimates”, “approximate”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this news release include statements with respect to the completion and payment of the redemptions set out herein. Forward‐looking statements are necessarily based upon the current belief, opinions and expectations of the Fund that, while considered reasonable by the Fund, are inherently subject to significant risks and uncertainties that could cause the outcome to differ materially from current expectations. Such risks and uncertainties include, among others, litigation, business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Fund's actual results to differ materially from those expressed or implied in the forward‐looking statements. These factors include, among others, uncertainties related to the redemption offer as well as other risk factors set out under the heading “Risk” in the Fund’s Annual Report for the year ended December 31, 2023, which is available on SEDAR+ at www.sedarplus.ca. Investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.