X0306 4 2015-12-08 0 0001506401 InfraREIT, Inc. HIFR 0001292208 Campbell David A 1807 ROSS AVENUE, 4TH FLOOR DALLAS TX 75201 1 1 0 0 President & CEO common stock, $0.01 par value per share 2015-12-08 4 P 0 5000 20.54 A 30000 D common units common stock 102646 102646 I By Electricity Participant Partnership, LLC (3) This transaction was executed in multiple trades at prices ranging from $20.40 to $20.92. The price reported above reflects the weighted average acquisition price. Mr. Campbell hereby undertakes to provide to the SEC staff, the issuer or a security holder of the issuer, upon request, full information regarding the number of shares acquired at each separate price. In the aggregate, Mr. Campbell beneficially owns 132,646 shares of common stock, consisting of the 30,000 shares of common stock shown in Table I together with 102,646 shares underlying the common units shown in Table II. Represents common units of InfraREIT Partners, LP. Pursuant to the Third Amended and Restated Agreement of Limited Partners of InfraREIT Partners, LP, common units are redeemable for cash or, at InfraREIT, Inc.'s election, shares of InfraREIT, Inc.'s common stock on a one-for-one basis, beginning February 3, 2016. The right to redeem common units does not have an expiration date. The 102,646 common units beneficially owned by Mr. Campbell are held by Electricity Participant Partnership, LLC, a subsidiary of Hunt Consolidated, Inc. /s/ Gregory S. Imhoff, as attorney-in-fact for David A. Campbell 2015-12-08