FMO Fiduciary Claymore Energy Infrastructure Fund

The Fiduciary/Claymore Energy Infrastructure Fund (“FMO” or the “Fund”) and its investment adviser, Guggenheim Funds Investment Advisors, LLC (“GFIA”), announced today that GFIA has determined to initiate a Shareholder Compensation Program (the “Program”) in connection with certain previously disclosed adjustments made to the Fund’s Net Asset Value (“NAV”). These adjustments arose from accruals for estimated federal and state income tax expenses resulting from the application of income tax recapture rules to its sales of certain master limited partnership (“MLP”) energy infrastructure investments that occurred in the first and second quarters of 2020.

GFIA is confident that it has acted diligently and in good faith in carrying out its duties as adviser to the Fund, including regular consultation with the Fund’s investment sub-adviser and tax experts. Nonetheless, GFIA is initiating the Program to compensate Fund investors who may have suffered cognizable losses, as determined under applicable law, in connection with the timing of the recognition of tax matters during the relevant time period. An investor’s eligibility for compensation under the Program will be based on whether and when the investor purchased or sold shares of the Fund during the relevant time period. The Fund will not bear any of the costs associated with the Program, including the compensation paid to shareholders thereunder.

GFIA’s decision to offer this compensation is voluntary. It is not a settlement of a legal action or an admission of any wrongdoing.

In the coming weeks, a notice of and related information about the Program (collectively, “Program Documents”) will be mailed to investors and/or brokers and other intermediaries that hold shares on behalf of investors who were shareholders of the Fund during the relevant time period and thus, may be eligible for compensation under the Program. The Program Documents will contain information regarding the Program’s eligibility requirements, as well as a Compensation Request Form that must be completed for the Program’s claims administrator to determine eligibility.

For additional information regarding the NAV adjustments, please refer to the Fund’s December 28, 2020 and February 1, 2021 press releases, each of which is available on the Fund’s website.

More Information About the Fund

The Fund’s investment objective is to provide a high level of after-tax total return with an emphasis on current distributions paid to shareholders. Under normal market conditions, the Fund invests at least 80% of its managed assets in energy infrastructure MLPs and other energy infrastructure companies (“energy infrastructure entities”) and invests at least 65% of its managed assets in equity securities of energy infrastructure entities. A substantial portion of the energy infrastructure entities in which the Fund invests are engaged primarily in the energy, natural resources and real estate sectors.

There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve operating expenses and fees. The NAV of the Fund will fluctuate with the value of the underlying securities. It is important to note that the Fund’s shares, like those of other closed-end funds, trade at their market value, not NAV, and often trade at a discount to their NAV.

About Guggenheim Investments

Guggenheim Investments includes GFIA. GFIA serves as Investment Adviser for FMO. Tortoise Capital Advisors, L.L.C. serves as Investment Sub-Adviser for FMO and is not affiliated with Guggenheim Investments.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. The Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. Investors should consider the investment objectives and policies, risk considerations, including tax risks and risks of investing in MLPs, and charges and expenses of any investment before they invest. For this and more information, visit www.guggenheiminvestments.com or contact a securities representative or Guggenheim Funds Distributors, LLC, 227 West Monroe Street, Chicago, IL 60606, 800-345-7999.

Analyst Inquiries	Shareholder Compensation Program Inquiries
William T. Korver	Rust Consulting, Inc.
cefs@guggenheiminvestments.com	www.FMOShareholderCompensationProgram.com
1.800.345.7999	1.800.423.8805

Not FDIC-Insured | Not Bank-Guaranteed | May Lose ValueMember FINRA/SIPC (5/21) 48195