PERMIAN BASIN ROYALTY TRUST ANNOUNCES MARCH CASH DISTRIBUTION, EXCESS COST POSITION ON WADDELL RANCH PROPERTIES AND UNITHOLDER MAILING BY SOFTVEST

DALLAS, March 20, 2026 /PRNewswire/ — Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) („Permian“ or the „Trust“) today declared a cash distribution to the holders of its units of beneficial interest of $0.010662 per unit, payable on April 14, 2026, to unit holders of record on March 31, 2026. The distribution does not include proceeds from the Waddell Ranch properties, as total production costs („Production Costs“) exceeded gross proceeds („Gross Proceeds“) for the month of February, resulting in a continuing excess cost position for the Waddell Ranch properties. More information regarding the Waddell Ranch properties is described below.

This month’s distribution decreased compared to the previous month due primarily to Texas Royalty Properties having lower oil and natural gas volumes, along with lower oil pricing, partially offset by higher natural gas pricing.

WADDELL RANCH