Tortoise Capital Announces Correction to Previously Reported Net Asset Values for Tortoise Global Water ETF (TBLU)

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Tortoise Capital, investment adviser to the Tortoise Global Water ETF (NYSE:TBLU), announced it identified and corrected an error in the Fund’s previously reported net asset values (NAVs) for July 20 and 21, 2026, which had overstated the NAVs.

According to Tortoise Capital, the July 20, 2026 NAV per share is restated from $52.31 to $51.05, and the July 21, 2026 NAV per share is restated from $51.81 to $50.58. The firm directs investors to its website and prospectus materials for additional information on the Fund, its risks, and investing considerations.

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OVERLAND PARK, KS / ACCESS Newswire / August 5, 2026 / Tortoise Capital Advisors, L.L.C, investment adviser to the Tortoise Global Water ETF (NYSE:TBLU) (the "Fund"), today announced that it identified an error in the Fund's previously reported net asset values ("NAVs") for July 20, 2026, and July 21, 2026. The error caused the Fund's NAVs to be overstated on the affected dates. The previously reported NAVs for the respective dates will be corrected and restated.

The Corrected NAVs are as follows:

Valuation Date	Previously Reported NAV/Share	Corrected NAV/Share
July 20, 2026	$ 52.31	$ 51.05
July 21, 2026	$ 51.81	$ 50.58

For additional information, please contact info@tortoisecapital.com.

For additional information on the fund, please visit https://tortoisecapital.com/etf/tortoise-global-water-etf/.

About Tortoise Capital

With approximately $10.7 billion in assets under management as of June 30, 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.

Media Contacts

Craft & Capital
Chris Sullivan chris@craftandcapital.com
Rob Jesselson rob@craftandcapital.com

Important Information

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.

Tortoise Capital Advisors, LLC (TCA) is the advisor to the Tortoise Global Water ETF. Exchange Traded Concepts, LLC serves as sub-adviser to the Tortoise Global Water ETF.

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

Investment in the water infrastructure and management industry may significantly affect the value of the shares of the fund. Companies in the water industry are subject to environmental considerations, taxes, government regulation, price and supply fluctuations, competition and water conservation influences. Investments in non-U.S. companies (including Canadian issuers) involve risk not ordinarily associated with investments in securities and instruments of U.S. issuers, including risks related to political, social and economic developments abroad, differences between U.S. and foreign regulatory and accounting requirements, tax risk and market practices, as well as fluctuations in foreign currencies. The fund invests in small and mid-cap companies, which involve additional risks such as limited liquidity and greater volatility than larger companies. The fund has elected to be, and intends to qualify each year for treatment as, a regulated investment company (RIC). To maintain the fund's qualification for federal income tax treatment as a RIC, the fund must meet certain source-of-income, asset diversification and annual distribution requirements. If for any taxable year the fund fails to qualify for the special federal income tax treatment afforded to RICs, all of the fund's taxable income will be subject to federal income tax at regular corporate rates (without any deduction for distributions to its shareholders) and its income available for distribution will be reduced. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments.

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.

Investing involves risk. Principal loss is possible. The fund is registered as a non-diversified, open-end management investment company under the 1940 Act. Accordingly, there are no regulatory limits under the 1940 Act on the number or size of securities that we hold, and we may invest more assets in fewer issuers compared to a diversified fund. An investment in MLP securities involves some risks that differ from the risks involved in an investment in the common stock of a corporation, including risks relating to the ownership structure of MLPs, the risk that MLPs might lose their partnership status for tax purposes and the risk that MLPs will not make distributions to holders (including us) at anticipated levels or with the expected tax character.

We may invest a portion of our assets in fixed income securities rated "investment grade" by nationally recognized statistical rating organizations ("NRSROs") or judged by our investment adviser, Tortoise Capital Advisors, L.L.C. (the "Adviser"), to be of comparable credit quality. Non-investment grade securities are rated Ba1 or lower by Moody's, BB+ or lower by S&P or BB or lower by Fitch or, if unrated, are determined by our Adviser to be of comparable credit quality. Investments in the securities of non-U.S. issuers may involve risks not ordinarily associated with investments in securities and instruments of U.S. issuers, including different accounting, auditing and financial standards, less government supervision and regulation, additional tax withholding and taxes, difficulty enforcing rights in foreign countries, less publicly available information, difficulty effecting transactions, higher expenses, and exchange rate risk.

Restricted securities (including Rule 144A securities) are less liquid than freely tradable securities because of statutory and contractual restrictions on resale. This lack of liquidity creates special risks for us. Rule 144A provides an exemption from the registration requirements of the Securities Act of 1933 (the "1933 Act"), for the resale of certain restricted securities to qualified institutional buyers, such as the fund. We cannot guarantee that our covered call option strategy will be effective. There are several risks associated with transactions in options on securities. For example, the significant differences between the securities and options markets could result in an imperfect correlation between these markets. Certain securities may trade less frequently than those of larger companies that have larger market capitalizations.

There is no guarantee the fund will pay distributions in the future and distributions, if any, may be less than the current distribution.

Quasar Distributors, LLC, distributor.

NOT FDIC INSURED · NO BANK GUARANTEE · MAY LOSE VALUE

SOURCE: Tortoise Capital

View the original press release on ACCESS Newswire

FAQ

What NAV correction did Tortoise Global Water ETF (TBLU) announce for July 20, 2026?

Tortoise Capital corrected TBLU’s July 20, 2026 NAV from $52.31 to $51.05. According to Tortoise Capital, this restatement reflects an error that had overstated the fund’s previously reported net asset value per share on that valuation date.

How was the July 21, 2026 NAV for Tortoise Global Water ETF (NYSE:TBLU) revised?

Tortoise Capital revised TBLU’s July 21, 2026 NAV from $51.81 to $50.58. According to Tortoise Capital, the earlier net asset value per share was overstated and has now been corrected and restated for that specific valuation date.

Why did Tortoise Capital restate NAVs for the TBLU ETF in August 2026?

Tortoise Capital restated TBLU’s NAVs after identifying an error that overstated values on July 20 and 21, 2026. According to Tortoise Capital, the correction aligns the ETF’s reported net asset values per share with accurate calculations for those dates.

Does the NAV correction affect all shareholders of Tortoise Global Water ETF (TBLU)?

The correction applies to TBLU’s NAVs on July 20 and 21, 2026, when values were overstated. According to Tortoise Capital, only transactions tied to those specific valuation dates are directly associated with the corrected net asset values per share.

Where can investors find more information about Tortoise Global Water ETF (TBLU) after the NAV restatement?

Investors can review TBLU details on Tortoise Capital’s website and in its statutory and summary prospectus. According to Tortoise Capital, these documents outline the fund’s objectives, risks, charges and expenses, and can be requested by phone or email.

What are the main risks Tortoise Capital highlights for investors in the TBLU ETF?

Tortoise Capital highlights risks related to water industry exposure, non-U.S. securities, small and mid-cap companies, derivatives and non-diversified status. According to Tortoise Capital, investors should carefully consider risk tolerance, investment objectives and expenses before investing in the Tortoise Global Water ETF (TBLU).