Exhibit 99.1

PRESS RELEASE

InfraREIT Reports Third Quarter 2017 and Year-to-Date Results

DALLAS, TEXAS, November 2, 2017—InfraREIT, Inc. (NYSE: HIFR) (“InfraREIT” or the “Company”) today reported financial results for the third quarter and first nine months of 2017 and provided the Company’s financial outlook.

InfraREIT reported the following third quarter 2017 highlights:

Updated Guidance:

Recent events:

“We have made considerable progress toward completing the asset exchange transaction and the resulting dismissal of our rate case,” said David A. Campbell, Chief Executive Officer of InfraREIT.  “We look forward to closing the transaction and delivering significant reductions in retail delivery rates for Sharyland’s customers.  Additionally, the constructive resolution of our rate case gives us a clear path to move forward and advance our transmission focused strategy,” added Campbell.

Third Quarter 2017 Results

Lease revenue increased 4 percent to $51.6 million for the three months ended September 30, 2017, compared to $49.4 million for the same period in 2016.  Lease revenue growth was less than the Company’s rate base growth during the period primarily due to lower lease pricing associated with assumptions embedded in the Company’s leases regarding a reduction to SDTS’s allowed cost of debt.  For the third quarter of 2017, base rent contributed $42.3 million and percentage rent contributed $9.3 million, compared to $38.6 million of base rent and $10.8 million of percentage rent for the third quarter of 2016.

Net income was $21.2 million in the third quarter of 2017, compared to net income of $23.6 million in the third quarter of 2016.  Net income attributable to InfraREIT, Inc. common stockholders was $0.35 per share during the third quarter 2017 compared to $0.39 per share during the same period in 2016.

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Non-GAAP EPS was $0.36 per share for the third quarter of 2017 compared to $0.37 per share for third quarter of 2016.  In addition to the lease revenue growth described above, Non-GAAP EPS was impacted by a reduction in general and administrative expense, net of transaction costs, offset by an increase in depreciation and interest expense as the Company increased its rate base and a decrease in allowance for funds used during construction (“AFUDC”).  CAD was $22.6 million for the third quarter of 2017 compared to $22.4 million for the third quarter of 2016, representing an increase of $0.2 million, or 1 percent.  Adjusted EBITDA was $45.4 million for the third quarter of 2017, an increase of 6 percent, compared to $42.7 million for the same period in 2016.  Funds from Operations (“FFO”) was $34.6 million for the third quarter of 2017, compared to $35.4 million from the same period in 2016, representing a decrease of 2 percent.  For the third quarter of 2017, FFO on an adjusted basis (“AFFO”) was $34.7 million, compared to $33.0 million for the same period in 2016, representing an increase of 5 percent.

First Nine Months of 2017 Performance

Lease revenue increased 13 percent to $131.7 million for the nine months ended September 30, 2017, compared to $116.9 million for the same period of 2016.  Base rent contributed $122.4 million and percentage rent contributed $9.3 million for the first nine months of 2017, compared to base rent of $106.1 million and percentage rent of $10.8 million for the same period of 2016.  Growth in lease revenue was mitigated by lower lease pricing assumptions embedded in the Company’s leases in the third quarter.  The Company anticipates that revenue will grow over each year with little to no percentage rent recognized in the first and second quarters of each year and with the largest amounts recognized during the third and fourth quarters of each year.

Net income was $42.4 million in the first nine months of 2017, compared to net income of $41.6 million in the first nine months of 2016.  Net income attributable to InfraREIT, Inc. common stockholders was $0.70 per share during the first nine months of 2017 compared to $0.69 per share during the same period in 2016.

Non-GAAP EPS was $0.76 per share for both the first nine months of 2017 and 2016.  Non-GAAP EPS for the period was impacted by the lease revenue growth described above and slightly lower general and administrative expense, net of transaction costs, equally offset by an increase in depreciation and interest expense as the Company increased its rate base, a lower straight-line rent adjustment and lower AFUDC.  CAD was $49.3 million for the first nine months of 2017 compared to $47.0 million for the same period of 2016, an increase of $2.3 million, or 5 percent.  Adjusted EBITDA was $115.8 million for the first nine months of 2017, an increase of 10 percent, compared to $105.6 million for the same period in 2016.  FFO was $81.4 million for the first nine months of 2017, compared to $75.9 million from the same period in 2016, representing an increase of 7 percent.  For the first nine months of 2017, AFFO was $84.8 million, compared to $77.6 million for the same period in 2016, representing an increase of 9 percent.

Liquidity and Capital Resources

As of September 30, 2017, the Company had $4.2 million of unrestricted cash and cash equivalents and $290.0 million of unused capacity under its revolving credit facilities.

Outlook and Guidance

Assuming the completion of the asset exchange transaction during November 2017, the Company is presenting the following guidance.  EPS is projected in the range of $1.15 to $1.19 for 2017 and $1.32 to $1.42 for 2018.  Non-GAAP EPS is estimated in the range of $1.20 to $1.24 for 2017 and $1.25 to $1.35 for 2018.  The difference between Non-GAAP EPS and EPS is due to adjustments related to straight-line rent and expenses associated with the asset exchange transaction.

The Company estimates transmission footprint capital expenditures in the following ranges over the next three years: $120 million to $140 million for 2017; $50 million to $100 million for 2018; and $10 million to $60 million for 2019.  This forecast is slightly reduced from prior forecasts due to certain projects experiencing lower investment levels than expected and certain projects no longer required as a result of the asset exchange transaction.

InfraREIT expects to maintain the Company’s current quarterly cash dividend of $0.25 per share, or $1.00 per share annualized, through 2017.

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.

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Rate Case Update

On December 30, 2016, SDTS and Sharyland filed an amended rate case application and rate filing package with the Public Utility Commission of Texas (“PUCT”) under Docket No. 45414 (“Rate Case”).  On July 21, 2017, Sharyland and SDTS entered into an agreement with certain parties to the Rate Case, which was subsequently approved by the PUCT and will result in the dismissal of the Rate Case upon completion of the asset exchange transaction.  Once the Rate Case dismissal becomes effective, SDTS and Sharyland will continue operating under their existing regulatory structure, and the current regulatory parameters will remain in place until the next rate case.  Sharyland and SDTS will be required to file a new rate case in the calendar year 2020 with a test year ending December 31, 2019.

Transaction Details

SDTS will exchange approximately $400 million of distribution assets for approximately $380 million of transmission assets located in west and central Texas and approximately $20 million in cash from Oncor.  Sharyland will lease the acquired assets from SDTS and operate the assets under an amended certificate of convenience and necessity (“CCN”).  In addition, SDTS will continue to own and lease to Sharyland certain substations related to its distribution assets, but Sharyland will no longer operate in the retail distribution business.

Approvals and Closing Conditions

The effectiveness of the Rate Case dismissal and the closing of the asset exchange transaction are dependent upon each other and subject to a number of closing conditions.  SDTS received early termination of the Hart-Scott-Rodino Act waiting period on August 18, 2017, regarding the asset exchange transaction.  On September 15, 2017, the U.S. Bankruptcy Court for the District of Delaware approved Oncor’s parent company’s consent for Oncor to enter into the asset exchange transaction.  The PUCT issued an order on September 29, 2017, dismissing the Rate Case contingent on PUCT approval of the asset exchange transaction and the closing of the asset exchange transaction.  On October 13, 2017, the PUCT issued an order approving the asset exchange transaction and granting SDTS a CCN authorizing SDTS to continue to own and lease its assets to Sharyland.  The PUCT also issued an order on October 13, 2017, approving the settlement of Oncor’s rate case, Docket No. 46957, contingent on the closing of the asset exchange transaction.  On November 1, 2017, SDTS’s lenders consented to the asset exchange transaction.  The closing of the asset exchange transaction and the effectiveness of the Rate Case dismissal are expected in November 2017.

Supplemental information relating to the Rate Case and asset exchange transaction can be found at www.InfraREITInc.com under the “Investor Relations/Rate Regulation” section as well as “About InfraREIT/Sharyland Utilities-Our Tenant” section of the Company’s Web site.

Dividends and Distributions

On August 31, 2017, InfraREIT’s board of directors declared cash distributions and dividends of $0.25 per unit and share, respectively, to unitholders and stockholders of record on September 29, 2017.  The cash distributions and dividends were paid on October 19, 2017.

Hunt Project Quarterly Updates

InfraREIT’s quarterly “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 “Q3 2017 Results & Supplemental Information” presentation posted on the Company’s Web site.

Conference Call and Webcast

As previously announced, management will host a teleconference call on November 2, 2017, 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: 10098427) 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: 10098427), for a seven-day period following the call.

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Non-GAAP Measures

This press release contains certain financial measures that are not recognized under GAAP. In particular, 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 focuses on different types of metrics in their evaluation of InfraREIT.  For instance, many utility investors focus on earnings per share 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.  Reporting on these measures in InfraREIT’s public disclosures also ensures that this information is available to all of 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 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). 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 InfraREIT management’s current expectations and include 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 anticipated financial and operational performance, including projected or forecasted financial results, distributions to stockholders, capital expenditures, AFFO-to-debt ratios, capitalization matters and other forecasted metrics as well as the effectiveness of the Rate Case dismissal and the closing of the asset exchange transaction with Oncor. The assumptions and estimates underlying the forward-looking statements included in this press release are inherently uncertain and, though considered reasonable by InfraREIT’s management team as of the date of its preparation, are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in this press release. Risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements include, among others, the following: (a) the incurrence of unexpected liabilities or failure to achieve the expected benefits of the asset exchange transaction, or the inability to satisfy the remaining closing conditions; (b) the amount of available investment to grow the Company’s rate base; (c) decisions by regulators or changes in governmental policies or regulations with respect to the Company’s organizational structure, lease arrangements, capitalization, acquisitions and dispositions of assets, recovery of investments, the Company’s authorized rate of return and other regulatory parameters; (d) the Company’s current reliance on its tenant for all of its revenues and, as a result, its dependence on the tenant’s solvency and financial and operating performance; (e) the effects of existing and future tax and other laws and governmental regulations; (f) the Company’s failure to qualify or maintain its status as a REIT or changes in the tax laws applicable to REITs; and (g) insufficient cash available to meet distribution requirements. 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. For the above reasons, there can be no assurance that any forward-looking statements included herein will prove to be indicative of the Company’s future performance or that actual results will not differ materially from those presented. In no event should the inclusion of forecasted financial information in this press release be regarded as a representation by any person that the results contained in the forecasted financial information will be achieved.

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 as required by applicable law.

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InfraREIT, Inc.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per 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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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, which includes 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 and an adjustment for the transaction costs related to the pending asset exchange transaction with Oncor.  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 tables set forth a reconciliation of net income attributable to InfraREIT, Inc. per diluted share to Non-GAAP EPS:

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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.  This deduction 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 table sets forth a reconciliation of net income 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) 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; (b) an adjustment for the transaction costs related to the pending asset exchange transaction with Oncor; and (c) adjusting for other income (expense), net.

The following table sets forth a reconciliation of net income 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) 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; (b) an adjustment for the transaction costs related to the pending asset exchange transaction with Oncor; and (c) adjusting for other income (expense), net.

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

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Schedule 5

InfraREIT, Inc.

Explanation and Reconciliation of Forecasted Guidance for 2017 and 2018

Forecasted GAAP Net Income Attributable to InfraREIT, Inc. Per Share to Non-GAAP EPS

The Company is reinstating yearly guidance for Non-GAAP EPS, which is one of the supplemental financial measures it uses in evaluating the Company’s operating performance.  The Company believes that Non-GAAP EPS helps the Company and investors better understand the Company’s business and performance 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 for the years ending December 31, 2017 and 2018:

For additional information, contact:

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