CorEnergy Announces Agreement to Acquire Outstanding Minority Interest in its Pinedale LGS and a Utilities Energy Service Contract for Fort Leonard Wood

KANSAS CITY, Mo.–(BUSINESS WIRE)–CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA):

Pinedale Liquids Gathering System Equity Buy-Out and Debt Refinancing

CorEnergy Infrastructure Trust, Inc. (“CorEnergy” or the “Company”)
announced today that it has agreed to purchase the 18.95% equity
interest, currently held by The Prudential Insurance Company of America
and managed by Prudential Capital Group (“Prudential”), in its Pinedale
Liquids Gathering System for $32.8 million. Concurrently, Prudential
will provide $41 million of asset level debt financing, which will be
utilized to pay off the existing Pinedale, LP credit facility balance
and CorEnergy will utilize its pro-rata proceeds from the repayment of
the credit facility to fund the purchase of Prudential’s equity
interest. The new debt financing provided by Prudential will be a fixed
rate 5-year term loan facility. These transactions, while subject to the
execution of definitive loan documents and standard closing conditions,
are expected to close prior to December 31, 2017.

CorEnergy believes the transactions will be modestly accretive to net
income and adjusted funds from operations (AFFO), with potential for
further upside from participating rents.

“We are encouraged by the recent announcements by Ultra Petroleum of its
success with horizontal drilling tests in the Pinedale Anticline,
potentially extending the life of the field,” said CorEnergy Chief
Executive Officer Dave Schulte. “Prudential has been a great partner on
this investment and we are pleased they intend to remain involved in our
debt financing at the asset level. Their funding allows CorEnergy to
preserve its borrowing capacity for future acquisitions, with current
liquidity of approximately $146 million.”

Utilities Energy Service Contract for Fort Leonard Wood

CorEnergy also announced today it was selected for a Utilities Energy
Services Contracting (UESC) program at Fort Leonard Wood in
south-central Missouri. The Company’s Omega Pipeline currently serves
that United States Army post with natural gas distribution services, and
the UESC program will provide comprehensive natural gas, electricity and
water efficiency improvements.

CorEnergy expects the final contract will be signed in early 2018, at
which time the Company will begin work with multiple highly qualified,
UESC experienced subcontractors to identify, propose and implement a
number of initiatives to reduce energy costs and water usage. Such
projects may include construction of new cogeneration facilities, boiler
control improvements, transformer replacements, interior and exterior
lighting replacements and control improvements.

“We believe this initiative could last between four and five years and
produce incremental earnings for our company,” said Rick Kreul,
President of MoWood, LLC, which oversees the Omega Pipeline. “The
program is part of an initiative by the U.S. Department of Defense to
promote projects whose future energy cost savings will outweigh the
short-term investments. We will announce any material contract awards
under the program.”

About
CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) is a real
estate investment trust (REIT) that owns essential energy assets, such
as pipelines, storage terminals, and transmission and distribution
assets. We receive long-term contracted revenue from operators of our
assets, primarily under triple-net participating leases. For more
information, please visit corenergy.reit.

About Prudential Capital Group

Prudential Capital Group has been a leading provider of private debt,
mezzanine and equity securities to companies globally for more than 75
years. Managing a portfolio of nearly $82 billion as of September 30,
2017, Prudential Capital offers senior debt and mezzanine capital,
leveraged leases, credit tenant leases, and equipment finance to
companies, worldwide. The global regional office network has locations
in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Milan,
Minneapolis, Newark, New York, Paris, San Francisco and Sydney*. For
more information, please visit prudentialcapitalgroup.com.

*Operates through PGIM (Australia) Pty Ltd.

Forward-Looking Statements

This press release contains certain statements that may include
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. All statements, other than statements of historical fact, included
herein are "forward-looking statements." Although CorEnergy believes
that the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties, and
these expectations may prove to be incorrect. Actual results could
differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in CorEnergy's reports that are filed with the Securities and
Exchange Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Other than as required by law, CorEnergy does not assume
a duty to update any forward-looking statement. In particular, any
distribution paid in the future to our stockholders will depend on the
actual performance of CorEnergy, its costs of leverage and other
operating expenses and will be subject to the approval of CorEnergy's
Board of Directors and compliance with leverage covenants.

Contacts

CorEnergy Infrastructure Trust, Inc.
Investor Relations
Lesley
Schorgl, 877-699-CORR (2677)
[email protected]