2016 INTERACTIVE ANNUAL REPORT

Sharyland Utilities, L.P. is a Texas-based electric transmission utility that is fully regulated by the Public Utility Commission of Texas. Sharyland is committed to providing safe and reliable transmission services, ensuring operational excellence, and investing to support the infrastructure needs of the Electric Reliability Council of Texas grid. Sharyland Utilities is privately-owned by Hunter L. Hunt and other members of the family of Ray L. Hunt, and is managed by Hunter L. Hunt.

Highlights of Sharyland’s Project History

  • Railroad DC Tie

    • On time and on budget
    • Successful coordination with ERCOT and the Comisión Federal de Electricidad (CFE), the grid operators
    • Completed permitting processes with the U.S. Department of Energy (DOE) and Army Corp of Engineers
  • CREZ Transmission

    • Completed on time and under budget
    • Successfully engineered, tested and installed a new family of towers
    • Outstanding stakeholder engagement and coordination
  • Cap Rock Integration

    • There were no service interruptions as a result of the merger
    • Successful coordination with stakeholders
    • Implementation for SAP system providing a scalable system for future expansion
  • Move to ERCOT

    • Sharyland systematically moved 18 substations with more than 200 MW of connected load from SPP to ERCOT with minimal interruption of service
    • Completed the move ahead of the PUCT deadline of December 31, 2013
  • Move to Competition

    • Sharyland moved over 50,000 customers off a bundled rate tariff and into the competitive retail market with new tariff categories
    • Successfully coordinated with the PUCT, Retail Electric Providers and customers to implement move
  • Substation Additions

    • Maintaining reliability metrics and minimizing scheduled interruptions
  • Railroad DC Tie Expansion

    • On time and on budget
    • Successful coordination with ERCOT and CFE, the grid operators
    • Successful coordination with Homeland Security and the Army Corp of Engineers

For more information, please visit www.sharyland.com

The information provided on these pages includes forward-looking statements, which are subject to known and unknown risks and uncertainties that could cause actual results to differ materially. We refer you to the discussion of risk factors that could affect future results and performance in our most recent prospectus and other SEC filings. InfraREIT, Inc. assumes no obligation to update any forward-looking statements made here as a result of new information or future events or developments.

InfraREIT, Inc. makes no claims concerning the accuracy of the information provided on these pages, and will not be held liable for any use of this information. Note: Historical and current stock price performance data is not necessarily indicative of future performance.