PERMIAN BASIN ROYALTY TRUST ANNOUNCES JANUARY CASH DISTRIBUTION, EXCESS COST POSITION ON WADDELL RANCH PROPERTIES AND PETITION FILED BY SOFTVEST

DALLAS, Jan. 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 $0.040056 per unit, payable on February 13, 2026, to unit holders of record on January 30, 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 December, 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 increased compared to the previous month due primarily to the second settlement payment being received from Blackbeard Operating LLC, this in conjunction with Texas Royalty Properties having higher oil volumes, along with higher natural gas pricing, partially offset by lower natural gas volumes and oil pricing for the month reported.

WADDELL RANCH
Information from Blackbeard, the operator of the Waddell Ranch properties, necessary to calculate the net profits interest („NPI“) proceeds for a given month is received after the announcement date for the month’s distribution. As a result, in accordance with the Trust indenture, if NPI proceeds are received from the Waddell Ranch properties on or prior to the record date, they will be included in the following month’s distribution.