On March 21, 2023, Saba Capital announced that it has sent a letter to Tortoise Pipeline & Energy Fund Inc containing shareholder proposal requesting the Company to take all necessary steps in its power to declassify the Board so that all directors are elected on an annual basis starting at the next annual meeting of shareholders. In addition, Saba Capital stated that it may engage in discussions with management, the board, other shareholders of the Company and other relevant parties, including representatives of any of the foregoing, concerning its investment in the common shares and the Company, including, without limitation, matters concerning the Company's business, operations, board appointments, governance, performance, management, capitalization, trading of the common shares at a discount to the Issuer's net asset value and strategic plans and matters relating to the open or closed end nature of the Company and timing of any potential liquidation of the Company.