Energy Infrastructure

Equity

Energy Infrastructure

An approach that provides a potential source for growth and income

Overview

A high-conviction and concentrated portfolio balanced across three key tenets: quality; long-term growth; and current yield
Multi-year outlook and opportunistic flexibility enables time-horizon arbitrage – taking advantage of dislocations between stock prices and asset values
Jennison’s Energy Value Research Platform facilitates collaboration and shared intellectual capital which helps to uncover potential trends; identify the most attractive companies/regions; and exposes opportunities and / or pitfalls others may overlook

Characteristics & Performance

Composite Inception	12/31/13
Strategy AUM	$0.5 Billion as of 6/30/25
Benchmark	Alerian Midstream Energy Select Index
Holdings Range	Typically 25 – 35

Performance results are calculated in US dollars and reflect reinvestment of dividends and other earnings. Periods greater than one year are annualized. Please refer to the GIPS presentation, which includes fee information and criteria for composite performance creation.