Recent news primarily covers the Trust's monthly cash dividend declarations and market commentary on earnings and ex-dividend dates.

• PermRock Royalty Trust declared a monthly cash distribution as reported on January 20, 2026 [N2].
• The Trust was mentioned in a pre-market earnings report on March 9, 2026, indicating ongoing market interest [N1].
• Dividend declarations of $0.04 per unit were reported in mid-2023, reflecting consistent monthly distributions [N5][N6].
• The Trust was included in articles highlighting stocks with monthly dividends in 2023 [N7].

The Trust's ownership of an 80% net profits interest in producing properties in the Permian Basin provides a direct economic link to oil and natural gas production revenues. The Trust's monthly cash distributions reflect ongoing production and net profits, supported by contracts with major purchasers. The Trust's passive structure limits operational liabilities and capital expenditure obligations, potentially preserving distributable income. The geographic concentration in a prolific basin with established infrastructure supports operational continuity.

The Trust is exposed to commodity price volatility which can materially reduce net profits and distributions. Operational risks including production declines, increased costs, or regulatory compliance expenses could reduce cash available for distribution. Customer concentration and reliance on third-party operators limit the Trust's control over operations and marketing. Environmental liabilities and regulatory changes may impose additional costs or operational restrictions. The Trust's dissolution provisions and limited unitholder control over the Trustee may affect governance and long-term value.

The Trust's moat derives from its ownership of a substantial net profits interest in producing oil and natural gas properties in the prolific Permian Basin, a major U.S. oil and gas producing region. Its passive royalty interest structure limits its exposure to operational costs and liabilities, while providing a direct economic interest in production revenues. The Trust benefits from established relationships with major purchasers and operators, and its monthly cash distributions provide a steady income stream to unitholders. However, the Trust's value is sensitive to commodity price fluctuations, operational performance of the underlying properties, and regulatory environment.

• Commodity Price Volatility: Fluctuations in oil and natural gas prices can materially affect net profits and cash distributions to unitholders.
• Operational Risks: Production declines, increased operating or development costs, or delays in drilling and completion activities can reduce net profits.
• Regulatory and Environmental Compliance: Compliance with environmental laws and regulations may increase costs or restrict operations, impacting production and distributions.
• Customer Concentration: A limited number of purchasers account for a significant portion of revenues, and loss of any major customer could impact cash flows.
• Geographic Concentration: All underlying properties are located in the Permian Basin, exposing the Trust to regional risks including weather, infrastructure, and regulatory changes.
• Limited Control: The Trust is passive and relies on T2S and third-party operators for operations and marketing, limiting its ability to influence outcomes.

• PermRock Royalty Trust is a Delaware statutory trust formed in 2017, 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, after deducting applicable costs and expenses incurred by the operators [S1].
• The underlying properties are operated by T2S Permian Acquisition II LLC (T2S) since March 31, 2025, successor to Boaz Energy II, LLC [S1].
• The Trust does not operate the properties and is not liable for operating or capital costs; it receives monthly payments based on net profits calculated monthly and paid the following month [S1].
• Oil and natural gas production is sold to third-party purchasers under short-term contracts at market prices, with major purchasers including Phillips 66, Plains All American Pipeline, Energy Transfer Partners, and Enterprise Crude Oil LLC, collectively accounting for a significant portion of revenues but no single purchaser exceeding 35% [S1].
• The Trust's assets and operations are concentrated geographically in the Permian Basin, exposing it to regional risks [S1].
• The Trust's distributions to unitholders are monthly cash distributions derived from net profits income, with recent declared dividends of $0.04 per unit reported in 2023 and 2026 [N2][N5][N6].
• The Trust units trade on the New York Stock Exchange under the symbol PRT [S1].
• The Trust's dissolution conditions include unitholder approval, sale of the net profits interest, or if annual cash proceeds fall below $2 million for two consecutive years [S1].
• The Trust is subject to risks including commodity price volatility, operational risks of the underlying properties, regulatory and environmental compliance costs, customer concentration, and competition in the oil and natural gas industry [S1].
• Environmental regulations and liabilities related to hazardous substances and waste handling may impose costs and operational restrictions on the underlying properties [S1].
• The Trust relies on T2S and third-party operators for operational information, marketing, and production activities [S1].
• The Trust's net profits income is affected by production volumes, operating expenses, capital expenditures, and market prices for oil and natural gas [S1].
• The Trust's monthly distributions correlate with net profits generated after payment of costs and expenses related to the underlying properties [S1].
• The Trust had approximately 12.2 million units outstanding as of March 27, 2026, with a market value of approximately $51 million as of June 30, 2025 [S1].
• Recent news coverage focuses on monthly dividend declarations and market commentary, indicating ongoing cash distributions to unitholders [N2][N5][N6].