- 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)