MLP Fundamental Index Overview

Miller/Howard MLP Fundamental Index^®*

Constituents

Miller/Howard MLP Fundamental Index^® Holdings As of Special Rebalance 7/29/2019

Large Cap Group / Company	Ticker
AmeriGas Partners LP	APU
Cheniere Energy Partners LP	CQP
DCP Midstream LP	DCP
Enable Midstream Partners LP	ENBL
Enterprise Products Partners LP	EPD
EQM Midstream Partners LP	EQM
Energy Transfer LP	ET
Magellan Midstream Partners LP	MMP
MPLX LP	MPLX
NGL Energy Partners LP	NGL
NuStar Energy LP	NS
Plains All American Pipeline LP	PAA
Phillips 66 Partners LP	PSXP
Shell Midstream Partners LP	SHLX
Western Midstream Partners LP	WES

Mid-Small Cap Group / Company	Ticker
BP Midstream Partners LP	BPMP
Crestwood Equity Partners LP	CEQP
CNX Midstream Partners LP	CNXM
Genesis Energy LP	GEL
Holly Energy Partners LP	HEP
Noble Midstream Partners LP	NBLX
Sunoco LP	SUN
TC PipeLines LP	TCP
Teekay LNG Partners LP	TGP
USA Compression Partners LP	USAC

Total Members	25
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*Fundamental Index® is a registered trademark of Research Affiliates, LLC, which is used under license by Miller/Howard Investments, Inc.

The securities identified and described above do not represent all of the securities purchased, sold or recommended for client accounts, or all securities considered as a candidate for inclusion in the Index. The reader should not assume that an investment in the securities identified was or will be profitable.

Past performance does not guarantee future results.

© 2019 Miller/Howard Investments.

*Fundamental Index^® is a registered trademark of Research Affiliates, LLC, which is used under license by Miller/Howard Investments, Inc.

Disclaimer

This data is provided for informational purposes only and is not intended for trading purposes. Information shown shall not constitute an offering of any security, product, or service. In addition, removal or inclusion of a security in the index is not a recommendation to buy, sell, or hold that security, nor is it investment advice. It is not possible to invest directly in an index. Index performance does not reflect the deduction of any fees and expenses. Past performance is not a guarantee of future returns.

The information contained on this site is current as of the publication date. Miller/Howard Strategic Indexes, LLC ("MHSI") makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document.

This communication is for informational purposes only, and does not constitute an offering of any security, product, or service.

MHSI receives compensation in connection with licensing its Indexes to third parties. In addition, Miller/Howard Investments, an affiliate of MHSI, provides investment advice to clients and receives fees from those clients accordingly. Miller/Howard Investments, as part of providing investment advice may recommend to its clients to buy or sell securities included in an Index. Such recommendations are made independent of any changes made to an Index or any changes that may be under consideration. MHSI has established policies and procedures to ensure its activities as Index Sponsor are separate from and independent of Miller/Howard Investments' activities as an investment advisor. The Indexes are the exclusive property of Miller/Howard Strategic Indexes, LLC which has contracted with Chicago Board Options Exchange ("CBOE") to maintain and calculate the Indexes. No portion of publications on this site may be reproduced in any form or by any means including electronically, mechanically or photocopying, without the prior written consent of Miller/Howard Strategic Indexes, LLC.