Dakota Plains 8-K/A Unaudited Financial Statements of the Acquired Companies

Exhibit 99.2

DAKOTA PLAINS HOLDINGS, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA STATEMENT OF INCOME

FOR THE YEAR ENDED DECEMBER 31, 2013

	DAKP 10-K			Dakota Petroleum Transport Solutions, LLC		DPTS Marketing LLC			Eliminate Intercompany Amounts			Eliminate Non-Controlling Interest		To Record Interest on New Financing (1)			To Reverse Interest on Debt Paid Off			To Record Interest on Contingent Payment (2)			To Record   Amortization of Finance Costs On SunTrust Debt (3)			Pro Forma Combined
REVENUES
Transloading   Revenue	$	—		$	17,475,294	$	—		$	(17,475,294	)	$	—	$	—		$	—		$	—		$	—		$	—
Trading   Commission   Income		—			—		55,729,970			—			—		—			—			—						55,729,970
Rental Income		349,372			—		—			(349,372	)		—		—			—			—			—			—
Total Revenues		349,372			17,475,294		55,729,970			(17,824,666	)		—		—			—			—			—			55,729,970
COST OF GOODS SOLD		—			7,588,802		47,738,199			(18,156,635	)		—		—			—			—			—			37,170,366
(exclusive of items  shown separately  below)
OPERATING EXPENSES
General and   Administrative   Expenses		8,449,125			1,539,984		2,065,264			(17,404	)		—		—			—			—			—			12,036,969
Depreciation and   Amortization		179,546			420,464		—			—			—		—			—			—			—			600,010
Total Operating      Expenses		8,628,671			1,960,448		2,065,264			(17,404	)		—		—			—			—			—			12,636,979
INCOME (LOSS) FROM OPERATIONS		(8,279,299	)		7,926,044		5,926,507			349,373			—		—			—			—			—			5,922,625
OTHER INCOME (EXPENSE)
Income from  Investment in  Dakota Petroleum  Transport  Solutions, LLC		4,312,394			—		—			(4,312,394	)		—														—
Income from   Investment in   DPTS   Marketing LLC		2,961,671			—		—			(2,961,671	)		—		—			—			—			—			—
Income from   Investment in   Dakota Plains   Services, LLC		130,305			—		—			—			—		—			—			—			—			130,305
Other Expense,   Net		—			—		(3,163	)		—			—		—			—			—			—			(3,163	)
Gain (Loss) on   Extinguishment   of Debt		1,726,515			—		—			—			—		—			(1,726,515	)		—			—			—
Interest Expense   (Net of Interest   Income)		(3,630,950	)		—		—			—			—		(2,587,395	)		3,631,845			(4,077,978	)		(961,366	)		(7,625,844	)
Total Other     Income     (Expense)		5,499,935			—		(3,163	)		(7,274,065	)		—		(2,587,395	)		1,905,330			(4,077,978	)		(961,366	)		(7,498,702	)
INCOME (LOSS) BEFORE  TAXES		(2,779,364	)		7,926,044		5,923,344			(6,924,692	)		—		(2,587,395	)		1,905,330			(4,077,978	)		(961,366	)		(1,576,077	)
INCOME TAX BENEFIT		(1,054,000	)		—		—			2,624,000			—		(981,000	)		722,000			(1,546,000	)		(364,000	)		(599,000	)
NET (LOSS) INCOME	$	(1,725,364	)	$	7,926,044	$	5,923,344		$	(9,548,692	)	$	—	$	(1,606,395	)	$	1,183,330		$	(2,531,978	)	$	(597,366	)	$	(977,077	)
Net Loss Per   Common Share -   Basic and   Diluted	$	(0.04	)																							$	(0.02	)
Weighted    Average   Shares   Outstanding		42,338,999																									42,338,999

(1) Assumes Financing with SunTrust was outstanding for Entire Year

- Revolver - $11 million - Interest Rate 4.407%

- Tranche A - $15 million - Interest Rate 4.407%

- Tranche B - $22.5 million - Interest Rate 6.407%

(2) Assumed Contingent Payment of $45.3 million was outstanding for Entire Year at an Interest Rate of 9%

(3) Amortization of $1.6 million of Finance Costs related to Credit Agreement with SunTrust

DAKOTA PLAINS HOLDINGS, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA STATEMENT OF OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014

	DAKP 10-Q			DPTS Marketing LLC			Eliminate Intercompany Amounts			Eliminate Non-Controlling Interest			To Record  Interest on New Financing (1)			To Reverse Interest on   Debt Paid Off		To Record   Interest on Contingent Payment (2)			To Record   Amortization of Finance Costs On SunTrust Debt (3)			Pro Forma Combined
REVENUES
Transloading Revenue	$	19,103,521		$	—		$	(11,706,782	)	$	—		$	—		$	—	$	—		$	—		$	7,396,739
Sand Revenue		733,355			—			—			—			—			—		—			—			733,355
Trading Commission Income		—			41,637,411			—			—			—			—		—						41,637,411
Rental Income		90,000			—			—			—			—			—		—			—			90,000
Total Revenues		19,926,876			41,637,411			(11,706,782	)		—			—			—		—			—			49,857,505
COST OF GOODS SOLD		5,775,590			41,469,548			(11,706,782	)		—			—			—		—			—			35,538,356
(exclusive of items shown separately below)
OPERATING EXPENSES
General and Administrative Expenses		7,784,815			2,745,601			—			—			—			—		—			—			10,530,416
Depreciation and Amortization		3,229,834			—			—			—			—			—		—			—			3,229,834
Total Operating Expenses		11,014,649			2,745,601			—			—			—			—		—			—			13,760,250
LOSS FROM OPERATIONS		3,136,637			(2,577,738	)		—			—			—			—		—			—			558,899
OTHER INCOME (EXPENSE)
Income from Investment in DPTS Marketing LLC		(1,293,982	)		—			1,293,982			—			—			—		—			—			—
Income from Investment in Dakota Plains     Services, LLC		589,418			—			—			—			—			—		—			—			589,418
Other Expense, Net		—			(10,225	)		—			—			—			—		—			—			(10,225	)
Interest Expense (Net of Interest Income)		(1,503,017	)		—			—			—			(1,940,546	)		1,505,269		(3,058,484	)		(721,025	)		(5,717,803	)
Total Other Income (Expense)		(2,207,581	)		(10,225	)		1,293,982			—			(1,940,546	)		1,505,269		(3,058,484	)		(721,025	)		(5,138,610	)
LOSS BEFORE  TAXES		929,056			(2,587,963	)		1,293,982			4,431,102			(1,940,546	)		1,505,269		(3,058,484	)		(721,025	)		(4,579,711	)
INCOME TAX BENEFIT		(1,142,148	)		—			—			1,023,000			(633,000	)		491,000		(997,000	)		(235,000	)		(1,493,148	)
NET (LOSS) INCOME		2,071,204			(2,587,963	)		1,293,982			3,408,102			(1,307,546	)		1,014,269		(2,061,484	)		(486,025	)		(3,086,563	)
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS		4,431,102			(1,293,982	)		1,293,982			(4,431,102	)		—			—		—			—			—
NET INCOME (LOSS) ATTRIBUTABLE TO SHAREHOLDERS OF
DAKOTA PLAINS HOLDINGS, INC.	$	(2,359,898	)	$	(1,293,981	)	$	—		$	7,839,204		$	(1,307,546	)	$	1,014,269	$	(2,061,484	)	$	(486,025	)	$	(3,086,563	)
Net Loss Per Common Share - Basic and Diluted	$	(0.04	)																					$	(0.06	)
Weighted Average Shares Outstanding		53,755,966																							53,755,966

(1) Assumes Financing with SunTrust was outstanding for Nine Months

- Revolver - $11 million - Interest Rate 4.407%

- Tranche A - $15 million - Interest Rate 4.407%

- Tranche B - $22.5 million - Interest Rate 6.407%

(2) Assumed Contingent Payment of $45.3 million was outstanding for Nine Months at an Interest Rate of 9%

(3) Amortization of $1.6 million of Finance Costs related to Credit Agreement with SunTrust - Nine Months of Amortization

DAKOTA PLAINS HOLDINGS, INC. AND SUBSIDIARIES

PRO FORMA CONSOLIDATING BALANCE SHEETS

SEPTEMBER 30, 2014

ASSETS

	DAKP 10Q			DPTS Marketing LLC		Purchase of   Remaining Interest of DPTS, DPTSM and DPTS Sand, LLC			To Record Contingent   Liability (1)			Record   Deferred Tax Asset (2)		Pay off of Promissory Notes			To Record Direct Costs of Transaction			To Record   Finance Fee on   SunTrust Debt			Record Escrow			Consolidating Entry			DAKP Pro Forma
CURRENT ASSETS
Cash and Cash Equivalents	$	6,535,618		$	27,501,495	$	(11,850,000	)	$	—		$	—	$	(2,604,274	)	$	—		$	—		$	—		$	—		$	19,582,839
Cash Escrow		—			—		—			—			—		—			—			—			3,000,000			—			3,000,000
Trade Receivables		1,860,513			19,945		—			—			—		—			—			—			—			—			1,880,458
Income Tax Receivable		170,958			—		—			—			—		—			—			—			—						170,958
Other Current Assets		283,393			5,602,193		—			—			—		—			—			—			—			—			5,885,586
Due from Related Party		848,547			—		—			—			—		—			—			—			—			(842,976	)		5,571
Other Receivables		23,720			—		—			—			—		—			—			—			—			—			23,720
Deferred Tax Asset		1,669,000			—		—			—			—		174,000			—			—			—			—			1,843,000
Total Current Assets		11,391,749			33,123,633		(11,850,000	)		—			—		(2,430,274	)		—			—			3,000,000			(842,976	)		32,392,132
PROPERTY AND EQUIPMENT
Land		3,166,849			—		—			—			—		—			—			—			—			—			3,166,849
Site Development		5,829,640			—		—			—			—		—			—			—			—			—			5,829,640
Terminal		21,105,863			—		—			—			—		—			—			—			—			—			21,105,863
Machinery		17,836,465			—		—			—			—		—			—			—			—			—			17,836,465
Construction in Progress		34,357			—		—			—			—		—			—			—			—			—			34,357
Other Property and    Equipment		11,879,445			—		—			—			—		—			—			—			—			—			11,879,445
Total Property and      Equipment		59,852,619			—		—			—			—		—			—			—			—			—			59,852,619
Less - Accumulated    Depreciation		5,040,093			—		—			—			—		—			—			—			—			—			5,040,093
Total Property and    Equipment, Net		54,812,526			—		—			—			—		—			—			—			—			—			54,812,526
PREFERRED DIVIDEND RECEIVABLE		626,027			—		—			—			—		—			—			—			—			(626,027	)		—
INVESTMENT IN DPTS MARKETING, LLC		9,790,884			—		(9,790,884	)		—			—		—			—			—			—			—			—
INVESTMENT IN DAKOTA PETROLEUM TRANSPORT SOLUTIONS, LLC		—			—		—			—			—		—			—			—			—			—			—
INVESTMENT IN DAKOTA PLAINS SERVICES, LLC		659,817			—		—			—			—		—			—			—			—			—			659,817
INVESTMENT IN DPTS SAND, LLC		—			—		—			—			—		—			—			—			—			—			—
FINANCE COSTS, NET		70,439			—		—			—			—		(70,439	)		—			—			—			—			—
DEFERRED TAX ASSET		3,366,000			—		—			—			19,730,000		—			—			—			—			—			23,096,000
OTHER ASSETS		140,902			—		—			—			—		—			—			—			—			—			140,902
Total Assets	$	80,858,344		$	33,123,633	$	(21,640,884	)	$	—		$	19,730,000	$	(2,500,713	)	$	—		$	—		$	3,000,000		$	(1,469,003	)	$	111,101,377
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts Payable	$	2,806,521		$	8,115,137	$	—		$	—		$	—	$	—		$	—		$	—		$	—		$	—		$	10,921,658
Accrued Expenses		246,355			1,252,054		—			—			—		—			—			—			—			(626,027	)		872,382
Accounts Payable Related    Parties		—			4,174,674		—			—			—		—			—			—			—			(842,976	)		3,331,698
Contingent Liability    Payable		—			—		—			480,428			—		—			—			—			—			—			480,428
Deferred Rental Income		—			—		—			—			—		—			—			—			—			—			—
Total Current Liabilities		3,052,876			13,541,865		—			480,428			—		—			—			—			—			(1,469,003	)		15,606,166
LONG-TERM LIABILITIES
Promissory Notes, Net of    Debt Discount		7,338,553			—		—			—			—		(7,338,553	)		—			—			—			—			—
Promissory Notes, New    Financing		—			—		31,150,000			—			—		12,082,638			1,133,618			1,132,244			3,001,500			—			48,500,000
Contingent Liability    Payable		—			—		—			44,830,439			—		—			—			—			—			—			44,830,439
Promissory Note,    Pioneer    Project		6,969,595			—		—			—			—		(6,969,595	)		—			—			—			—			—
Other Noncurrent    Liabilities		11,667			—		—			—			—		—			—			—			—			—			11,667
Deferred Rental Income		—			—		—			—			—		—			—			—			—			—			—
Total Long-Term     Liabilities		14,319,815			—		31,150,000			44,830,439			—		(2,225,510	)		1,133,618			1,132,244			3,001,500			—			93,342,106
Total Liabilities		17,372,691			13,541,865		31,150,000			45,310,867			—		(2,225,510	)		1,133,618			1,132,244			3,001,500			(1,469,003	)		108,948,272
STOCKHOLDERS’ EQUITY
Preferred Stock -     Par Value $.001;     10,000,000 Shares     Authorized; None     Issued or     Outstanding		—			—		—			—			—		—			—			—			—			—			—
Common Stock,     Par Value $.001;     100,000,000     Authorized,							—			—			—		—			—			—			—			—
Outstanding		54,900			—		—			—			—		—			—			—			—			—			54,900
Additional Paid-In    Capital		45,169,317			—		(5,750,957	)		(45,310,867	)		19,730,000		—			(1,133,618	)		(1,132,244	)		—			—			11,571,631
Accumulated    Deficit		(9,196,723	)		19,581,768		(19,581,768	)		—			—		(275,203	)		—			—			(1,500	)		—			(9,473,426	)
Total Equity    Dakota Plains    Holdings, Inc.		36,027,494			19,581,768		(25,332,725	)		(45,310,867	)		19,730,000		(275,203	)		(1,133,618	)		(1,132,244	)		(1,500	)		—			2,153,105
Non-controlling    Interest in    Subsidiary		27,458,159			—		(27,458,159	)		—			—		—			—			—			—			—			—
Total     Stockholders’     Equity		63,485,653			19,581,768		(52,790,884	)		(45,310,867	)		19,730,000		(275,203	)		(1,133,618	)		(1,132,244	)		(1,500	)		—			2,153,105
Total Liabilities     and Stockholders’     Equity	$	80,858,344		$	33,123,633	$	(21,640,884	)	$	—		$	19,730,000	$	(2,500,713	)	$	—		$	—		$	3,000,000		$	(1,469,003	)	$	111,101,377

(1) Record Contingent Liability related to Operational Override

(2) Record Deferred Tax Assets related to Purchase of Member Interests