Recent news highlights ongoing monthly cash distributions declared by PermRock Royalty Trust and mentions in pre-market earnings reports.

• PermRock Royalty Trust declared monthly cash distributions as of January 2026 [N2].
• The Trust has announced dividends of $0.04 and $0.03 per unit in 2023, reflecting ongoing monthly dividend payments [N5][N6][N8].
• The Trust was mentioned in a pre-market earnings report in March 2026 [N1].

The Trust's ownership of an 80% net profits interest in producing properties in the Permian Basin provides a direct link to oil and natural gas production cash flows without operational responsibilities. The monthly net profits income and regular cash distributions to unitholders reflect ongoing production and sales activity. The Trust benefits from a diversified customer base for its production sales and operates in a major hydrocarbon basin with established infrastructure. The passive structure limits capital and operational risk for unitholders.

The Trust's cash flows and distributions are subject to commodity price volatility, which can materially reduce net profits income. The Trust is passive and has no control over operations or development decisions by T2S or other operators, which may affect production levels and costs. Regulatory, environmental, and operational risks, including potential title defects or uninsured liabilities, could reduce distributable cash. Customer concentration, while diversified among several purchasers, still poses risk if major purchasers reduce or cease buying production. The Trust's units may lose value if production declines or if adverse market or regulatory conditions arise.

PermRock Royalty Trust's moat derives from its ownership of an 80% net profits interest in producing oil and natural gas properties in the Permian Basin, a prolific and established hydrocarbon region. The Trust benefits from the underlying production and associated cash flows without bearing operating or capital costs, as these are the responsibility of the operators. The contractual structure provides a steady stream of net profits income based on production sales after expenses, with monthly distributions to unitholders. The Trust's passive nature limits operational risk exposure, while its interest in producing assets in a major basin provides a degree of stability. However, the Trust is exposed to commodity price volatility, operational risks of the operators, and regulatory and environmental compliance costs, which can affect distributable cash.

• Commodity Price Volatility: Fluctuations in oil and natural gas prices can materially affect the net profits income and cash distributions to unitholders.
• Operational and Development Risks: Delays, reductions, or cancellations in development and production activities by operators can reduce production volumes and revenues.
• Regulatory and Environmental Compliance: Costs and restrictions arising from environmental laws and regulations may increase operating expenses and limit production.
• Customer Concentration: Although diversified, the loss of major purchasers could impact sales and cash flows.
• Passive Trust Structure: The Trust has no control over operations or development decisions, limiting its ability to influence production or costs.
• Title Deficiencies and Legal Risks: Potential title defects or litigation could adversely affect the Trust's interests and cash flows.

• PermRock Royalty Trust is a Delaware statutory trust formed in 2017 and amended through 2022, owning an 80% net profits interest in certain oil and natural gas properties located in the Permian Basin, Texas [S1].
• The Trust's net profits interest entitles it to receive 80% of net profits from the sale of production from the underlying properties, calculated monthly and paid on or before the end of the following month [S1].
• Net profits are defined as gross profits from sales of oil and natural gas production less applicable costs and expenses incurred by the operators, including drilling, development, production, operation, maintenance, taxes, and insurance [S1].
• The Trust is passive and does not operate or control the underlying properties; operations and marketing are conducted by T2S Permian Acquisition II LLC (T2S) or its affiliates, successor to Boaz Energy II, LLC [S1].
• The Trust units trade on the New York Stock Exchange under the ticker PRT [S1].
• As of March 27, 2026, there were 12,165,732 Trust units outstanding, with an aggregate market value held by non-affiliates of approximately $50.97 million as of June 30, 2025 [S1].
• The Trust's revenues depend on oil and natural gas prices, production volumes, and operating costs of the underlying properties, which are subject to commodity price volatility and operational risks [S1].
• Major purchasers of oil and natural gas production from the underlying properties include Phillips 66, Plains All American Pipeline, Energy Transfer Partners, and Enterprise Crude Oil LLC, accounting collectively for over 80% of revenues, but the Trust believes loss of any single purchaser would not materially impact operations due to market competition [S1].
• The Trust declares monthly cash distributions to unitholders, with recent announcements confirming ongoing monthly dividend payments, including $0.04 and $0.03 per unit dividends in 2023 and early 2026 [N2][N5][N6][N8].
• The Trust's business is subject to risks including commodity price volatility, operational risks in oil and gas production, regulatory and environmental compliance costs, competition, and the passive nature of the Trust limiting influence over operators [S1].
• The Trust's net profits interest is subject to adjustments for negative net profits periods, with negative amounts carried forward and deducted from future gross profits [S1].
• The Trust's financial figures are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice.
• The Trust's oil and natural gas production is sold under short-term contracts at market prices, with pricing based on regional indices and adjusted for differentials related to delivery location and quality [S1].
• The Trust's underlying properties are located in the Permian Basin, a major oil and natural gas producing region in Texas [S1].
• The Trust's Trustee changed from Simmons Bank to Argent Trust Company effective December 30, 2022 [S1].