Exhibit 99.1

PRESS RELEASE

InfraREIT Reports First Quarter 2016 Results

DALLAS, TEXAS, May 5, 2016—InfraREIT, Inc. (NYSE: HIFR) (“InfraREIT” or the “Company”) today reported financial results for the first quarter of 2016 and reaffirmed the Company’s financial outlook.

InfraREIT reported the following first quarter 2016 financial highlights:

Reaffirmed guidance:

Regulatory update:

“InfraREIT continues to deliver on its core plan for growth,” said David A. Campbell, Chief Executive Officer of InfraREIT.  “We remain focused on investing to serve the infrastructure needs of our high-growth service territories and to further enhance system reliability and dependability.”

“Our tenant’s 2016 rate case reflects and addresses the dynamic markets that Sharyland serves,” said Campbell.  “We believe the investments outlined in the case are prudent and necessary, and that a successful outcome to this case will enable Sharyland to continue providing safe and reliable service to the communities it serves.”

Favorable Results in First Quarter 2016

Lease revenue, consisting only of base rent, increased approximately 15 percent to $33.7 million for the three months ended March 31, 2016, compared to the same period in 2015.  There was no percentage rent recognized during the first quarter of 2016 or 2015 as Sharyland’s revenue did not exceed the annual specified breakpoints under the Company’s leases.  The Company anticipates that revenue will grow over the year with little to no percentage rent recognized in the first and second quarters of each year with the largest amounts recognized during the third and fourth quarters of each year.

Net income was $8.8 million in the first quarter of 2016, compared to a net loss of $35.9 million in the first quarter of 2015.

Non-GAAP EPS was $0.31 per share for the first quarter of 2016 and $0.33 per share for the same period in 2015.  Non-GAAP EPS during the quarter ended March 31, 2016 was based on 60.6 million weighted average shares outstanding compared to 55.0 million weighted average shares outstanding during the same period of 2015.

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In the first quarter of 2016, CAD was $19.3 million, or $0.32 per share, compared to $18.3 million, or $0.30 per share, in the same period in 2015. Beginning with the quarter ended March 31, 2016, the Company changed the share amount used for the CAD per share calculation from an outstanding share amount as of the end of the respective time period to the weighted average shares outstanding during the respective time period, in order to be consistent with the Company’s other per share calculations. Accordingly, CAD per share was based on weighted average shares outstanding of 60.6 million during the first quarter of 2016, compared to 60.6 million shares outstanding as of March 31, 2015.  CAD per share calculations prior to March 31, 2016 will continue to be presented based on the Company’s historical method of calculation and, therefore, may not be comparable to CAD per share amounts calculated on a weighted average basis.

Adjusted EBITDA was $38.1 million in the first quarter of 2016, an increase of 11 percent, compared to $34.4 million in the same period in 2015.  Funds from Operations (FFO) was $19.9 million for the first quarter of 2016, compared to ($26.4) million from the same period in 2015.  For the first quarter of 2016, FFO on an adjusted basis (AFFO) was $29.1 million, an increase of 9 percent, compared to $26.8 million in the same period in 2015.

Liquidity and Capital Resources

As of March 31, 2016, the Company had $13.4 million of unrestricted cash and cash equivalents and $325 million of unused capacity under its revolving credit facilities. On January 14, 2016, an InfraREIT subsidiary, Sharyland Distribution & Transmission, L.L.C. (SDTS), issued $100 million in 10-year senior secured notes, 3.86 percent per annum, series B, due January 14, 2026.  This completed the private placement funding of the $500 million of senior secured notes announced on December 3, 2015.  The proceeds received from the January 2016 issuance of the series B notes were used to repay the Company’s outstanding balances on the SDTS revolving credit facility and for general operating purposes.

Outlook and Guidance

Non-GAAP EPS and CAD per share are estimated in the range of $1.15 to $1.25 for 2016. Reconciliations of the Company’s forecasted GAAP net income attributable to InfraREIT, Inc. per share to Non-GAAP EPS and CAD per share for the year ending December 31, 2016 are included in the Schedules at the end of this press release.

The Company estimates footprint capital expenditures in the following ranges over the next three years: $220 million to $240 million for 2016; $250 million to $280 million for 2017; and $170 million to $220 million for 2018.  The Company anticipates that footprint capital expenditures will enable a projected CAGR range in dividends per share of 8 percent to 10 percent from 2015 through 2018, with a targeted payout ratio of 80 percent to 90 percent of CAD.

The Company’s consolidated debt profile continues to target debt as a percentage of total capitalization at or below 60 percent and AFFO-to-debt of at least 12 percent.

The guidance provided above constitutes forward-looking statements, which are based on current economic conditions and estimates, and the Company does not include other potential impacts, such as changes in accounting or unusual items. Supplemental information relating to the Company’s financial outlook is posted in the Investor Relations section of the Company’s Web site at www.InfraREITInc.com.

Hunt Project Quarterly Updates

InfraREIT will begin providing “Hunt Project Updates” (previously described as “ROFO Project Updates”) on a quarterly basis as of today.  These Hunt Project Updates can be found on the Company’s Web site (www.InfraREITInc.com) under the “Hunt Transmission-Our Developer” and “Investor Relations” sections and in the “1Q 2016 Results & Supplemental Information” presentation posted on the Company’s Web site.

Dividends and Distributions

On March 2, 2016, InfraREIT’s board of directors declared a cash distribution by InfraREIT’s operating partnership to all unit holders of record, including InfraREIT, on March 31, 2016 of $0.25 per unit for a total distribution of $15.2 million ($10.9 million to InfraREIT). Also, on March 2, 2016, InfraREIT’s board of directors declared a cash dividend to stockholders of record of InfraREIT on March 31, 2016, of $0.25 per share for a total of $10.9 million. The cash distribution and cash dividend were paid on April 21, 2016.

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InfraREIT’s Tenant’s Rate Case

On April 29, 2016, InfraREIT’s tenant, Sharyland, filed a system-wide rate case with the PUCT to review and set regulatory transmission and delivery rates.  Sharyland is responsible for regulatory compliance and reporting requirements related to InfraREIT’s assets.  Sharyland’s 2016 rate case, PUCT Docket No. 45414, addresses conditions required by its 2013 rate case: the review of all invested capital subsequent to the test year ended December 31, 2012; the consolidation of two existing tariffs (the tariff for the Stanton, Brady and Celeste service territories and the tariff for the McAllen service territory); and the proposal and support of “cost-based rates.”

In Sharyland’s rate case filing it requested an allowed return on common equity (ROE) of 10.0 percent and maintaining its current capital structure of 55 percent for debt and 45 percent for equity.  Sharyland also requested a reduction in cost of debt to 4.97 percent, down from 6.73 percent.  The timing and outcome of Sharyland’s rate case is uncertain at this time.

Supplemental information relating to Sharyland’s rate case can be found at www.InfraREITInc.com under the “About InfraREIT/Sharyland Utilities-Our Tenant” section of the Company’s Web site.  InfraREIT will also post updates to this section of the Company’s Web site as new information becomes available.

Conference Call and Webcast

As previously announced, management will host a teleconference call May 5, 2016, at 10 a.m. U.S. Central time (11 a.m. U.S. Eastern time). David A. Campbell, Chief Executive Officer, and Brant Meleski, Chief Financial Officer, will discuss InfraREIT’s results and financial outlook.

Investors and analysts are invited to participate in the call by phone at 1-855-560-2576, or internationally at 1-412-542-4162, (access code: 10078293) or via the Internet at www.InfraREITInc.com. A replay of the call will be available on the Company’s Web site or by phone at 1-877-344-7529, or internationally at 1-412-317-0088, (access code: 10078293) for a seven-day period following the call.

First Annual Stockholders Meeting

InfraREIT’s first Annual Meeting of Stockholders will be held on Wednesday, May 18, 2016, at 11:00 a.m. U.S. Central, at the Fairmont Hotel, 1717 North Akard Street, Dallas, Texas 75201.  The board of directors established Monday, March 14, 2016, as the record date for determining stockholders entitled to vote at the Annual Meeting, in-person or by proxy.

Non-GAAP Measures

This press release contains certain financial measures that are not recognized under generally accepted accounting principles (GAAP). InfraREIT uses Non-GAAP EPS, CAD, EBITDA, Adjusted EBITDA, FFO and AFFO as important supplemental measures of the Company’s operating performance.  For example, management uses the CAD measurement when recommending dividends to its board of directors.  The Company also presents non-GAAP performance measures because management believes they help investors understand InfraREIT’s business, performance and ability to earn and distribute cash to its stockholders by providing perspectives not immediately apparent from net income. InfraREIT has a diverse set of investors, including investors that primarily focus on utilities, yieldcos, MLPs or REITs.  InfraREIT’s management believes that each of these different classes of investors focus on different types of metrics in their evaluation of InfraREIT.  For instance, many utility investors focus on EPS and management believes the Company’s presentation of Non-GAAP EPS enables a better comparison to other utilities.  InfraREIT’s management believes it is appropriate to calculate and provide these measures in order to be responsive to these investors.  Including reporting on these measures in InfraREIT’s public disclosures also ensures that this information is available to all InfraREIT’s investors.  The non-GAAP measures presented in this press release are not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. In addition, InfraREIT’s method of calculating these measures may be different from methods used by other companies, and, accordingly, may not be comparable to similar measures as calculated by other companies that do not use the same methodology as InfraREIT. Reconciliations of these measures to their most directly comparable GAAP measures are included in the Schedules to this press release.

About InfraREIT, Inc.

InfraREIT is a real estate investment trust that owns 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). 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.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. These statements give InfraREIT management’s current expectations, and contain projections of results of operations or financial condition or forecasts of future events. Words such as “could,” “will,” “may,” “assume,” “forecast,” “strategy,” “guidance,” “outlook,” “target,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “project” and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include InfraREIT’s expectations regarding its anticipated financial and operational performance, including projected or forecasted financial results, distributions to stockholders, dividend growth, capital expenditures, CAD and Non-GAAP EPS amounts,

AFFO-to-debt ratios, capitalization matters and other forecasted metrics. 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, the following: (a) decisions by regulators or changes in governmental policies and regulations with respect to the Company’s permitted capital structure, acquisitions and dispositions of assets, recovery of investments, the Company’s authorized rate of return and other regulatory parameters; (b) the Company’s current reliance on its tenant for all of its revenues and, as a result, its dependency on the tenant’s solvency and financial and operating performance; (c) risks that the capital expenditures the Company expects will not materialize for a variety of reasons; (d) risks related to future lease negotiations or non-renewal of leases with the Company’s tenant; (e) insufficient cash available to meet distribution requirements; and (f) the Company’s ability to make strategic acquisitions that add to its rate base.  These and other applicable uncertainties, factors and risks are described more fully 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 InfraREIT and speaks only as of the date on which it is made. InfraREIT undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than required by applicable law.

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InfraREIT, Inc.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except share amounts)

(Unaudited)

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InfraREIT, Inc.

CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

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InfraREIT, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

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Non-GAAP Measures

Schedule 1

InfraREIT, Inc.

Explanation and Reconciliation of Non-GAAP EPS

Non-GAAP EPS

InfraREIT defines non-GAAP net income as net income (loss) adjusted in a manner the Company believes is appropriate to show its core operational performance, including: (a) adding back the non-cash reorganization structuring fee, (b) adding back the reorganization expense related to the Company’s IPO and related reorganization transactions, (c) adding back the expense related to the contingent consideration issued as deemed capital credits, (d) a quarterly, not annual, adjustment for the difference between the amount of percentage rent payments that the Company expects to receive with respect to the applicable period and the amount of percentage rent the Company recognizes under GAAP during the period and (e) an adjustment for the difference between the amount of base rent payments that the Company receives with respect to the applicable period and the amount of straight-line base rent recognized under GAAP.  The Company defines Non-GAAP EPS as non-GAAP net income (loss) divided by the weighted average shares outstanding calculated in the manner described in the footnotes below.

The following sets forth a reconciliation of net income (loss) attributable to InfraREIT, Inc. per diluted share to Non-GAAP EPS per share:

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Schedule 2

InfraREIT, Inc.

Explanation and Reconciliation of CAD

CAD

The Company defines CAD in a manner that it believes is appropriate to show its core operational performance, which includes a deduction of the portion of capital expenditures needed to maintain its net assets which equals depreciation expense within the applicable period. The portion of the capital expenditures in excess of depreciation, which the Company refers to as growth capital expenditures, will increase the Company’s net assets. The CAD calculation also includes various other adjustments from net income, as outlined below and described in more detail on Schedules 1, 3 and 4.

The following sets forth a reconciliation of net income (loss) to CAD:

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Schedule 3

InfraREIT, Inc.

Explanation and Reconciliation of EBITDA and Adjusted EBITDA

EBITDA and Adjusted EBITDA

InfraREIT defines EBITDA as net income (loss) before interest expense, net; income tax expense; depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted in a manner the Company believes is appropriate to show its core operational performance, including: (a) adding back the non-cash reorganization structuring fee, (b) a quarterly, not annual, adjustment for the difference between the amount of percentage rent payments that the Company expects to receive with respect to the applicable period and the amount of percentage rent the Company recognizes under GAAP during the period, (c) an adjustment for the difference between the amount of base rent payments that the Company receives with respect to the applicable period and the amount of straight-line base rent recognized under GAAP, (d) adding back the reorganization expense related to the Company’s IPO and related reorganization transactions and (e) adjusting for other income (expense), net.

The following sets forth a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA:

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Schedule 4

InfraREIT, Inc.

Explanation and Reconciliation of FFO and AFFO

FFO and AFFO

The National Association of Real Estate Investment Trusts (NAREIT) defines FFO as net income (computed in accordance with GAAP), excluding gains and losses from sales of property (net) and impairments of depreciated real estate, plus real estate depreciation and amortization (excluding amortization of deferred financing costs) and after adjustments for unconsolidated partnerships and joint ventures. Applying the NAREIT definition to the Company’s consolidated financial statements, which is the basis for the FFO presented in this press release and the reconciliations below, results in FFO representing net income (loss) before depreciation, impairment of assets and gain (loss) on sale of assets. FFO does not represent cash generated from operations as defined by GAAP and it is not indicative of cash available to fund all cash needs, including distributions.

AFFO is defined as FFO adjusted in a manner the Company believes is appropriate to show its core operational performance, including: (a) adding back the non-cash reorganization structuring fee, (b) a quarterly, not annual, adjustment for the difference between the amount of percentage rent payments that the Company expects to receive with respect to the applicable period and the amount of percentage rent the Company recognizes under GAAP during the period, (c) an adjustment for the difference between the amount of base rent payments that the Company receives with respect to the applicable period and the amount of straight-line base rent recognized under GAAP, (d) adding back the reorganization expense related to the Company’s IPO and related reorganization transactions and (e) adjusting for other income (expense), net.

The following table sets forth a reconciliation of net income (loss) to FFO and AFFO:

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Schedule 5

InfraREIT, Inc.

Explanation and Reconciliation of Forecasted Guidance for 2016

Forecasted GAAP net income attributable to InfraREIT, Inc. per share to Non-GAAP EPS and CAD per share

The Company provides yearly guidance for the supplemental financial measures it uses in evaluating the Company’s operating performance. These metrics include:  Non-GAAP EPS and CAD per share.  The financial measures help the Company and investors better understand the Company’s business, performance and ability to earn and distribute cash to stockholders by providing perspectives not immediately apparent from net income.

The following table sets forth a reconciliation of the forecasted GAAP net income attributable to InfraREIT, Inc. per share to Non-GAAP EPS and CAD per share for the year ending December 31, 2016.

For additional information, contact:

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