SALIENT MIDSTREAM & MLP FUND ANNOUNCES TRADING HALT IN ADVANCE OF ANTICIPATED REORGANIZATION

HOUSTON, Aug. 29, 2022 /PRNewswire/ -- Salient Midstream & MLP Fund (the "Fund") (NYSE: SMM) previously announced that if shareholders approve the reorganization of the Fund with and into Salient MLP & Energy Infrastructure Fund ("SMAPX") (the "Reorganization"), the Fund intends to complete the Reorganization as soon as possible after the shareholder vote.  It is currently expected that the Reorganization will be completed after the market close of the New York Stock Exchange ("NYSE") on September 13, 2022 subject to the satisfaction of customary closing conditions and the unwinding of the Fund's leverage. To facilitate the anticipated Reorganization, Automated Customer Account Transfer Service ("ACATS") will be restricted as of market close on September 2, 2022, and all shares of the Fund will cease trading on the NYSE as of market close on Thursday, September 8, 2022.  On Wednesday, September 14, 2022, shareholders of the Fund who become shareholders of SMAPX pursuant to the Reorganization will hold shares of SMAPX and not the Fund. Shareholders of the Fund who become shareholders of SMAPX will receive newly issued Class A Shares of SMAPX in the Reorganization. The aggregate net asset value of SMAPX shares received by Fund shareholders will be equal to the aggregate net asset value of the shares of the Fund held by Fund shareholders, in each case as of the close of business on the date of Reorganization. Shares of SMAPX may be purchased or redeemed on any business day.  SMAPX is an open-end fund that is a series of Salient MF Trust with approximately $996 million in net assets and is also managed by Salient Capital Advisors, LLC, the investment adviser of SMM, using a similar investment strategy.

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