- Permian Basin Royalty Trust declared a cash distribution of **$0.020021 per unit**, payable on **November 17, 2025**, to unitholders of record on **October 31, 2025**.  **[319654_0001193125-25-244585_pbt-ex99_1.htm:0]** 
- The distribution **does not include proceeds from the Waddell Ranch properties** due to a continuing **excess cost position** for August, where total production costs exceeded gross proceeds.  **[319654_0001193125-25-244585_pbt-ex99_1.htm:0]** 
- This month's distribution **decreased** compared to the previous month, primarily due to the **absence of the first settlement payment from Blackbeard Operating LLC**.  **[319654_0001193125-25-244585_pbt-ex99_1.htm:0]** 
- A **Special Meeting** of unitholders is scheduled for **December 16, 2025**, with a record date of **November 11, 2025**, to vote on a proposal to **reform the Trust's Indenture** regarding amendment approval.  **[319654_0001193125-25-244585_pbt-ex99_1.htm:2]**

Permian Basin Royalty Trust Announces October Cash Distribution and Special Meeting

- Permian Basin Royalty Trust declared a cash distribution of **$0.020021 per unit**, payable on **November 17, 2025**, to unit holders of record on **October 31, 2025**.  **[319654_20251021DA02298:0]** 
- The distribution decreased compared to the previous month, primarily due to the absence of the first settlement payment from Blackbeard Operating LLC, though this was partially offset by higher oil and natural gas volumes and natural gas prices from the Texas Royalty Properties.  **[319654_20251021DA02298:0]** 
- No proceeds from the Waddell Ranch properties were included in the October distribution because **total production costs exceeded gross proceeds** for the month of August, resulting in a continuing excess cost position.  **[319654_20251021DA02298:0]** 
- A special meeting has been requested by SoftVest Advisors, LLC and other unit holders for **December 16, 2025**, to vote on a proposal to reform the Trust's Indenture to allow a majority vote of Units cast to approve amendments.  **[319654_20251021DA02298:1]**

- Permian Basin Royalty Trust declared a cash distribution of **$0.115493 per unit**, payable on **October 15, 2025**, to unitholders of record on **September 30, 2025**.  **[319654_0001193125-25-208392_pbt-ex99_1.htm:1]** 
- The distribution includes a **$4.5 million** first installment from a **$9 million settlement** with Blackbeard Operating, LLC, resolving a lawsuit filed in 2024. The remaining **$4.5 million** will be paid in **four equal quarterly installments during the 2026 calendar year**.  **[319654_0001193125-25-208392_pbt-ex99_1.htm:1]** **[319654_0001193125-25-208392_pbt-ex99_1.htm:3]** 
- No proceeds from the Waddell Ranch properties were included in this distribution due to **total production costs exceeding gross proceeds** for August, resulting in a continuing excess cost position.  **[319654_0001193125-25-208392_pbt-ex99_1.htm:1]** 
- The Texas Royalty Properties contributed **$934,159** to this month's distribution, based on **13,944 barrels of oil** at an average price of **$65.76 per bbl** and **10,800 Mcf of gas** at **$6.65 per Mcf**.  **[319654_0001193125-25-208392_pbt-ex99_1.htm:2]**

Permian Basin Royalty Trust Announces September Cash Distribution and Lawsuit Settlement

- Permian Basin Royalty Trust declared a cash distribution of **$0.115493 per unit**, payable on **October 15, 2025**, to unit holders of record on **September 30, 2025**.  **[319654_20250919DA77097:0]** 
- The distribution increased compared to the previous month, primarily due to the **first settlement payment from Blackbeard Operating LLC** and higher natural gas volumes and oil prices from Texas Royalty Properties.  **[319654_20250919DA77097:0]** 
- The Trust received **$4.5 million** as the first installment of a **$9 million settlement** with Blackbeard Operating, LLC, with the remaining **$4.5 million** to be paid in four equal quarterly installments during the **2026 calendar year**.  **[319654_20250919DA77097:0]** **[319654_20250919DA77097:1]** 
- No proceeds from the Waddell Ranch properties were included in this distribution, as **total production costs exceeded gross proceeds** for August, resulting in a continuing excess cost position.  **[319654_20250919DA77097:0]** 
- The Texas Royalty Properties contributed **$934,159** to this month's distribution, based on allocated production of **13,944 barrels of oil** and **10,800 Mcf of gas**.  **[319654_20250919DA77097:1]**

PERMIAN BASIN ROYALTY TRUST (PBT)