Fund Description: Tortoise Essential Assets Income Term Fund Due 3/31/2031 is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: Tortoise Essential Assets Income Term Fund seeks is to provide common shareholders with a high level of total return with an emphasis on current distributions. The Fund's investment objective is not fundamental and may be changed by our Board of Directors without shareholder approval. The Fund cannot assure you that will achieve its investment objective. The Fund will have a limited period of existence and will dissolve as of the close of business twelve years from the effective date of the initial registration statement of the Fund. the Board of Trustees may vote to extend the Termination Date one period that may in no event exceed one year following the Termination Date, and for one additional period that may in no event exceed one year. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing, under normal conditions, at least 80% of total assets (including assets obtained through leverage) in issuers operating in essential asset sectors. The Fund considers essential assets to be assets and services that are indispensable to the economy and society. Essential asset sectors include the education, housing, healthcare, social and human services, power, water, energy, infrastructure, basic materials, industrial, transportation and telecommunications sectors. The Fund has adopted the additional non-fundmental investment policies under normal conditions: up to 40% of total assets in directly originated loans, up to 25% of total assets in direct placements in restricted equity securities in listed companies, up to 25% of total assets in direct equity investments in unlisted companies, up to 25% of total assets in securities of entities treated as qualified publicly traded partnerships for federal income tax purposes, which generally includes MLPs, up to 10% of total assets in securities of emerging market issuers and up to 10% of total assets in non-directly originated corporate debt securities that are, at the time of purchase, rated CCC+ or lower by S&P and Fitch and Caa1 or lower by Moody’s. FUND MANAGEMENT: Tortoise Capital Advisors, L.L.C will serve as an Advisor to the fund. Tortoise Credit Strategies, LLC and Tortoise Advisors UK Limited will serve as sub-advisors to the fund.