Cypress Energy Partners, L.P. Announces Fourth Quarter Cash Distribution

Cypress Energy Partners, L.P. (“CELP”) (NYSE: CELP)
announced today that the board of directors of its general partner
declared a cash distribution for the fourth quarter of 2018. The cash
distribution is $0.21 per limited partner common unit. This amount
remains unchanged from the third quarter of 2018. The distribution will
be payable on February 14, 2019 to all unitholders of record on February
7, 2019.

This press release includes “forward-looking statements.” All
statements, other than statements of historical facts included or
incorporated herein, may constitute forward-looking statements. Actual
results could vary significantly from those expressed or implied in such
statements and are subject to several risks and uncertainties. While
CELP believes its expectations as reflected in the forward-looking
statements are reasonable, CELP can give no assurance that such
expectations will prove to be correct. The forward-looking statements
involve risk and uncertainties that can affect operations, financial
performance, and other factors as provided in CELP’s filings with the
Securities and Exchange Commission. Other factors which could impact any
forward-looking statements are those risks described in CELP’s Annual
Report filed on Form 10-K and in other public filings. You are urged to
carefully review and consider the cautionary statements and other
disclosures made in those filings, specifically those under the heading
“Risk Factors.” CELP undertakes no obligation to publicly update or
revise any forward-looking statements except as required by law.

About Cypress Energy Partners, L.P. Cypress Energy Partners, L.P.
is a master limited partnership that provides essential midstream
services, including pipeline inspection, integrity, and hydrostatic
testing services to various energy companies and their vendors
throughout the U.S. and Canada. Cypress also provides saltwater disposal
and environmental services to upstream energy companies and their
vendors in North Dakota in the Bakken region of the Williston Basin. In
all of these business segments, Cypress works closely with its customers
to help them comply with increasingly complex and strict environmental
and safety rules and regulations and to reduce their operating costs.
Cypress is headquartered in Tulsa, Oklahoma.

This release is a qualified notice under Treasury Regulation Section
1.1446-4(b). Brokers and nominees should treat 100% of Cypress
Energy Partners L.P.’s distributions to foreign investors as being
attributable to income that is effectively connected with a United
States trade or business. Therefore, distributions to foreign
investors are subject to federal income tax withholding at the highest
applicable effective tax rate.

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