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Crius To Form Strategic Operating Committee To Evaluate And Recommend Opportunities To Enhance Unitholder Value

Crius, Investment Firm Reach Settlement On Director Nominees

Marcie Zlotnik, Robert Gries Also To Be Nominated To Board

April 30, 2018

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Crius Energy Trust (the "Trust", "Crius" or the "Company") and JCP Investment Management, LLC ("JCP") today announced that they have entered into a settlement agreement (the "Agreement"), pursuant to which one JCP nominee, Ali Hedayat, will be put forth by Crius for election to the board of directors of Crius Energy Administrator Inc. (the "Board"), the administrator of the Trust, at the Company's 2018 Annual and Special Meeting of Shareholders (the "Meeting"), on May 29, 2018.

In addition to Mr. Hedayat, Crius will nominate two new directors for election to the Board including Robert Gries, Jr. and Marcie C. Zlotnik. David Kerr will be retiring from the Board at the end of his tenure following the Meeting.

"This agreement allows Crius to stay focused on creating sustainable unitholder value," said David Kerr, Chairman of the Board. "Ali, Robert, and Marcie will make strong additions to the Board and ensure that unitholder interests continue to be well represented."

"We are confident the newly constructed Board will enhance unitholder value over the long-term," said James Pappas, Managing Member of JCP.

Pursuant to the Agreement, JCP has removed its previously announced slate of nominees, and has entered into customary standstill and voting support agreements with Crius. As part of the Agreement, Crius also intends to form a Strategic Operating Committee to evaluate and recommend opportunities to enhance unitholder value.

Marcie C. Zlotnik is an experienced retail energy executive with more than 20 years of relevant experience. Zlotnik co-founded StarTex Power, a Texas-based retail electricity provider, in 2004 and served as Chairman and Chief Operating Officer from 2004 to 2011, when StarTex was acquired by Constellation Energy. Prior to co-founding StarTex, Zlotnik co-founded Gexa Energy and served as President and Principal Accounting Officer from 2000 to 2003. Zlotnik also served as President and Chief Executive Officer of TotalNet Communications, Inc. from 1994 to 2000. Zlotnik currently serves on the boards of ESCO Advisors LLC and Frontier Utilities, LLC.

Robert Gries, Jr. previously served as Chairman of the Board and as a Director of Crius Energy Administrator Inc. from September 2012 until May 2014, when he decided not to stand for re-election at the end of his term. Gries served as Chief Executive Officer of Public Power, LLC, a company engaged in the retail marketing of electricity and natural gas, from September 2009 until the acquisition of Public Power by the Trust in September 2012. Gries is also director of several investment funds, which, as of the date hereof, collectively own approximately 14% of the issued and outstanding Trust units.

Hedayat is the founder and Managing Director of Maryana Capital in Toronto, Canada. He previously co-founded Edoma Capital in London, was a Partner at Indus Capital in London, and worked for the Goldman Sachs Group in New York and London as a Managing Director and Co-head of Americas Principal Strategies. Hedayat currently serves as a director for Restaurant Brands International Inc. and US Geothermal Inc., and has previously served as a director for companies in the cable, pharmaceutical and media industries.

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