2016 INTERACTIVE ANNUAL REPORT

InfraREIT's Regulated Subsidiary Receives Approval from the Public Utility Commission of Texas for its Pending Asset Exchange Transaction and Dismissal of Rate Case

October 11, 2017

DALLAS, Oct. 11, 2017 /PRNewswire/ -- InfraREIT, Inc. (NYSE: HIFR) ("InfraREIT" or the "Company") announced today that the Public Utility Commission of Texas ("PUCT") voted to approve the Sale-Transfer-Merger Application, Docket No. 47469, related to the asset exchange transaction in which InfraREIT's regulated subsidiary, Sharyland Distribution & Transmission Services, L.L.C. ("SDTS"), will exchange its retail distribution assets for a group of transmission assets located in west and central Texas owned by Oncor Electric Delivery Company LLC ("Oncor").  Based on discussions at the PUCT's open meeting on Oct. 11, 2017, the Company expects the order, when signed by the PUCT, to include the issuance of a Certificate of Convenience and Necessity to SDTS.

InfraREIT, Inc. Logo. (PRNewsFoto/InfraREIT, Inc.)

The PUCT has also approved the dismissal of the pending rate case, Docket No. 45414, ("Rate Case") of SDTS, and its tenant, Sharyland Utilities, L.P. ("Sharyland").  The dismissal of the Rate Case will be effective upon the closing of the pending asset exchange transaction, which is expected to close by the end of 2017.  Following closing, Sharyland's retail distribution customer classes will experience significantly lower retail delivery rates.

Supplemental information relating to the Rate Case and pending asset exchange transaction can be found at www.InfraREITInc.com under the "Investor Relations/Rate Regulation" section of the Company's Web site.

About InfraREIT, Inc.
InfraREIT is a real estate investment trust that is engaged in owning and leasing rate-regulated electric transmission and distribution assets in the state of Texas.  The Company is externally managed by Hunt Utility Services, LLC, an affiliate of Hunt Consolidated, Inc. (a diversified holding company based in Dallas, Texas and managed by the Ray L. Hunt family), and the Company's shares are traded on the New York Stock Exchange under the symbol "HIFR".  Additional information on InfraREIT is available at www.InfraREITInc.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws.  These statements give the current expectations of the Company's management.  Forward-looking statements contained in this press release include the Company's expectations regarding the consummation of the asset exchange transaction with Oncor.  Forward-looking statements can be affected by assumptions used or known or unknown risks or uncertainties.  Consequently, no forward-looking statements can be guaranteed and actual results may differ materially and adversely from those reflected in the forward-looking statements.  Factors that could cause actual results to differ materially from those indicated in the forward-looking statements include, among others, (a) unsatisfied closing conditions and (b) other applicable uncertainties, factors and risks described in the Company's filings with the U.S. Securities and Exchange Commission.

Any forward-looking statement made by the Company in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made.  The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

For additional information, contact:


For Investors:

Brook Wootton


Vice President, Investor Relations


InfraREIT, Inc., 214-855-6748



For Media:

Jeanne Phillips


Senior Vice President, Corporate Affairs & International Relations


Hunt Consolidated, Inc., 214-978-8534

 

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SOURCE InfraREIT, Inc.

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.