WWW.DAKOTAPLAINS.COM

NYSEMKT:DAKP

CORPORATEPRESENTATION

MARCH 23,2015

Statements made by representatives of Dakota Plains Holdings, Inc. (“Dakota Plains” or the “Company”)

during the course of this presentation that are not historical facts, are forward-looking statements.

These statements are based on certain assumptions and expectations made by the Company which

reflect management’s experience, estimates and perception of historical trends, current conditions,

anticipated future developments and other factors believed to be appropriate. Such statements are

subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of

the Company, which may cause actual results to differ materially from those implied or anticipated in

the forward-looking statements. These include risks relating to global economics or politics, our ability

to obtain additional capital needed to implement our business plan, minimal operating history, loss of

key personnel, lack of business diversification, reliance on strategic, third-party relationships, financial

performance and results, prices and demand for oil, our ability to make acquisitions on economically

acceptable terms, and other factors described from time to time in the Company’s periodic reports filed

with the SEC that could cause actual results to differ materially from those anticipated or implied in the

forward-looking statements. Dakota Plains undertakes no obligation to publicly update any forward-

looking statements, whether as a result of new information or future events.

2

FORWARD LOOKING

Ø CorporateOverview:v OperatethePioneerTerminalinNewTown,NDtransloading outboundcrudeand

inboundfrac sand

Ø CurrentEnvironmentv Evaluatingdemandforcrude-by-railvs.pipelineinlowercommoditypriceenvironment

Ø December2014BuyoutofJVPartner:v Createdvalueinearningspershare,EBITDAandoperatingcashflowpersharev Fullyfinancedwithlowcostdebtandcashonhandv Simplifiedcapitalstructureandfinancialreportingv Expeditesfurthergrowthv EffectivelymitigatedexposuretotheLacMeganticincident

Ø FutureGrowth:v Expandingcapacitywithadditionof3rd storagetank- fullyfundedandonschedulefor

summer2015v Developingphasedexpansionstowardgoalof160kbopd;timingwillbedictatedby

demand

Ø FY2015adjustedEBITDAguidanceof$23.4M

3

OVERVIEW

DakotaPlainsHoldings,Inc.isanintegratedmidstreamenergycompanyoperatingthePioneerTerminalwithservicesthatincludeoutboundcrudeoilstorage,logistics,andrailtransportationandinboundfrac sandlogistics.ThePioneerTerminalislocatedinMountrailCounty,NorthDakota,whereitisuniquelypositionedtoexploitopportunitiesintheheartoftheBakkenandThreeForksplaysoftheWillistonBasin.

Ø NYSE-MKT:DAKP;Ø Recentclosingprice:$2.02onMarch18,2015Ø Headquarters:Wayzata,MNØ FDSharesOutstanding: 57.8mmasofDecember31,2014Ø LongTermandCurrentDebt:$48.5m;$9mofavailablecreditasof

December31,2014Ø Auditor:BDOUSA,LLPØ TransferAgent:Interwest TransferCo,Inc.Ø InvestorInquiries:DanGagnier,Sard Verbinnen &Co,(212)687-8080

4

INFORMATION

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BakkenHeatMap–November14,2014publication

CrudeByRailTerminals

q Oneof3railterminalsnotonBNSF

q Onlynon-BNSFterminalthatacceptsthirdpartyvolumes

q Capacityfor5inboundpipelines;twoconnected

q AccesstoonlyMissouriRiverbridgecrossingfor70miles

LocationHighlights:

LOCATION

6

BUSINESS

FracSandStorage&

Transloading

CrudeOilStorage&

Transloading

CrudeOilLogistics&

TransportOilOutbound

SandInbound

TRANSFORMATION

2YearsAgo 2015indirectinvestmentin3 50/50JVs

0operatingcontrol26kb/daveragethroughput

4 laddertracks

0crudeoilstorage$28mindebtat12%

100% ownershipandoperatingcontrol

>50kb/daveragethroughput2 looptracksand8 laddertracks

180kbbls crudeoilstorage;270kbblsbysummer

97.5ktonsperquarteroffracsand$48mdebtat≈5.5%

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8

GOVERNANCE

ADAM KROLOFFCHAIRMAN OF THE BOARD

GARY ALVORDLEAD INDEPENDENT DIRECTOR

STEVEN BLANKINDEPENDENT DIRECTOR

DAVID FELLONINDEPENDENT DIRECTOR

CRAIG MCKENZIECEO&EXECUTIVE DIRECTOR

BOARD OF DIRECTORS

GABE CLAYPOOLPRESIDENT &COO

TIM BRADYCFO

JIM THORNTONGENERAL COUNSEL

MANAGEMENT

Boardreducedto5directorseff.May1,2015

STOCKHOLDER FOCUSEDPERFORMANCE DRIVEN

99

GROWTH

Phase4

Phase5

Phase6

Phase1

Phase2

Phase3

2010 2017E

Tank#3underconstruction;operationalJuly2015 $6mfullyfunded

LoopTrack#3underevaluation $5mest.

Tanks#4,#5,&loadingexpansion $25mest.

Tank#6&infrastructure $6mest.

kb/doil 20 40 80 160

Oil

STRATEGIC ALTERNATIVESCombinationAcquisition

RecapitalizationSale

withothercompanyorMLP

ofstrategic&accretiveassets(orcompany)

ofdebt/equity/structure

tobuyerpendinglevelofinterestOil

SandOpportunitySetDestinationterminalsOriginationterminalsMLPqualifiedassetsDebtsyndicationStockbuybackprogramStrategicmergertargetsPotentialbuyers

10

11

RAIL VS.PIPE

Sources:NorthDakotaPipelineAuthority(NDPA)withdatathroughDecember2014andtheEnergyInformationAdministration(EIA)

Brent/WTIspread$/bbl

NorthDakotaprod

uctio

nbb

l/day Rail

Volume58%

PipelineVolume

PipelineCapacity

12

FOUR LADDER TRACKS=10,000FEET

UNIMINFRAC SANDTERMINAL 10STATION RAIL LOADING

10TRUCKOFFLOAD STATIONS

180K BBLS STORAGE,270K SUMMER 2015TWO INBOUND

PIPELINES

HILAND,PELICAN &TARGA PIPELINE CDPS

PIONEER TERMINAL

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q LandisownedbyDakotaPlainsHoldings,Inc.

q CommencedoperationsAugust2010

q Generatesrevenuethroughfee/bbls

q Doublelooptrack,each120carcapable

q 180,000bblsofstorage,third90,000bblstankexpectedtobecompletedbySummer2015

q Thirdlooptrackandincrementalstorageunderconsideration

q 10,000feetofincrementalladdertracksaddstooperationalefficiency

q 750Tankcarsleasedatbelowmarketrates

OPERATIONS - OIL

14

q LandisownedDakotaPlainsHoldings,Inc.

q CommencedfracsandtransloadingoperationsJune2014

q Generatesrevenuethroughfee/tonpaidbyUnimin

q 8,500feetofdedicatedtrackspace

q 8,000tonsofstorage

q Trackexpansionandadditionalstorageunderconsideration

OPERATIONS - SAND

15

ktonsperm

onthoffracs

and

Actualkb/dofcrude

oil

2014 2015

PIONEER TRANSLOADING

PLAN

ToPvol =49.1kbpd

PRIORITIES

GuidanceDeliveryTank#3ConstructionOperationsEfficiencyThroughputContracts

DebtSyndication

StrategicAlternatives

newcustomersandrenewalswithcurrentcustomers

bringoutsourcedoperationsin-house

57.5kb/doil;97.5ktons/qsand;$23.4mEBITDA

commissionbyJuly2015

StrategyCommitteeprocessonbehalfofBoardSunTrustRobinsonHumphreyasadvisors

$22.5milliondueDecember2015

2015

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17

APPENDIX

18

CRUDE BY RAIL TERMINALS – END OF 2014

DakotaPlainsNewTown- CP

c.80kbpd3rd PartyOK

Storage=180k

BOEMidstreamDickinson- BNSF

c.200kbpdBelleFourchePipeStorage≈650k

Global/BasinZap- BNSFc.60kbpd3rd PartyOK

Storage≈140k

SavageTrenton- BNSFc.175Kbpd

2-GatheringLinesStorage≈ 300k

CrestwoodPartnersEpping- BNSFc.160kbpd

BeaverLodgePipeStorage≈1.1M

HessTioga- BNSFc.140kbpdGathering3rd Party?

Storage≈270k

Global/BasinStampede- CPc.80kbpdNo3rd Party

Storage≈200k

MusketCorp.Dore- BNSF60kbpd

BannerPipeline3rd PartyOKStorage≈ 90k

GreatNorthernPowerDevelopment

Fryburg - BNSFBakkenLinkPipeline

c.70kbpdStorage≈450k

PlainsAllAmericanVanHook- CPc.65KbpdNo3rd Party

Storage≈ 300k

PlainsAllAmericanRoss– BNSFc.68kbpdGathering

RobinsonLakePipeStorage≈ 200k EOG

Stanley- BNSF75kbpd

NO3rd PartyStorage≈ 240k

EnbridgeBerthold- BNSF

c.80kbpdGathering

Storage≈ 300k

TesoroLogisticsRefineryMandan68kbpd

December2014Production ≈ 1.3MbpdPipeline=455kbpdTesoro=65kbpdTruck=13kbpdRail=767kbpd

NorthstarFairview– BNSFc.100kbpdQ22015

Storage=515k

Phillips66Palermo– BNSFc.80kbpd+Q42015

Storage=300k

4Q 2014RESULTS

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allresultsin$mm 4q2014 4q2013ConsolidatedNetIncome $(0.9) $0.3EBITDA $1.9 $0.1

OilTransloadingJVRevenue $7.7 $4.6Income $2.5 $0.9

SandTransloadingJV(a)Revenue $0.6Income $0.2

DiscontinuedOperationsIncomefromMarketingJV $0.4 $1.4IncomefromTruckingJV $0.0 $(0.1)

(a)CommencedoperationsinJune2014

FY2014RESULTS

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allresultsin$mm FY2014 FY2013ConsolidatedNetIncome $(3.3) $(1.7)EBITDA $3.4 $2.4

OilTransloadingJVRevenue $26.8 $17.5Income $ 6.7 $4.3

SandTransloadingJV(a)Revenue $1.4Income $0.4

DiscontinuedOperationsIncomefromMarketingJV $ (0.4) $3.0IncomefromTruckingJV $0.6 $0.1

(a)CommencedoperationsinJune2014

EBITDARECONCILIATION- 4Q AND FY2014RESULTS

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2014 2013 2014 2013 2012Net Income (Loss) 185,474$ 337,304$ 2,256,678$ (1,725,364)$ (2,000,670)$

Add Back: Income Tax Provision (Benefit) 287,155 228,000 (854,993) (1,054,000) (1,380,541) Depreciation and Amortization 1,103,066 47,623 4,332,900 179,546 165,313 Share Based Compensation - Employees and Directors 425,993 323,152 2,330,651 2,753,817 502,604 Share Based Compensation - Consultants - 18,574 - 299,288 - Interest Expense 1,290,173 868,775 2,793,190 3,630,950 29,211,978 Gain (Loss) on Extinguishment of Debt - (1,726,515) - (1,726,515) (14,708,909)

Adjusted EBITDA 3,291,861$ 96,913$ 10,858,426$ 2,357,722$ 11,789,775$

Adjusted EBITDA Attributable to Non-Controlling Interests 1,438,636 - 7,411,785 - -

Adjusted EBITDA Attributable to Shareholders of Dakota Plains Holdings, Inc. 1,853,225$ 96,913$ 3,446,641$ 2,357,722$ 11,789,775$

Non-GAAP Financial MeasuresDakota Plains Holdings, Inc.

Reconciliation of Adjusted EBITDA

Three Months Ended Year EndedDecember 31, December 31,

EBITDARECONCILIATION- 2015GUIDANCE

22

(expressedinUSDmillions,unlessotherwiseindicated) TwelveMonthsEndedDecember31,

2015

NetIncome 8.5$Addback:

InterestExpense 7.6$o/w Contingentpaymentinterest 4.2$

Termloanandrevolverinterest 3.1$Fees/amortizationassociatedwithloans 0.4$

TaxProvision 1.6$DepreciationandAmortization 4.5$ShareBasedCompensation 1.2$

AdjustedEBITDA 23.4$