TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Energy Income Fund (TSX – ENI.UN) (the "Fund") is pleased to announce that, at the special meeting of the unitholders of the Fund (the "Unitholders") held today, the Unitholders approved an extraordinary resolution authorizing amendments to the Fund's declaration of trust to implement changes to the Fund's investment strategy, investment objectives and fees payable to Artemis Investment Management Limited (the "Manager"), as manager of the Fund (as described more fully in the Fund's information circular dated February 12, 2024 and the Fund's previous news release dated October 12, 2023).

In alignment with the updated investment strategy and objectives, the Manager intends to assume the investment management role for the Fund in the near future. However, until further notice, Vestcap Investment Management Inc. ("Vestcap") will continue to serve as the investment manager for the Fund during the transitional phase under the existing investment management agreement. The fees payable to the Manager will be as per the revised Declaration of Trust. During the transition, the investment management fee to Vestcap will be borne by the Manager.

For further information, please contact your financial advisor or the Manager's investor relations line at (416) 934-7455 or by email at info@artemisfunds.ca or visit our website at .

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, 2022, which is available on SEDAR+ at . Investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.