Hugoton Royalty Trust gets $500K advance from XTO; XTO divests assets to Mach Natural Resources

HUGOTON ROYALTY TRUST

Trust entered second advance distribution agreement with XTO for $500,000 to fund near-term reporting obligations and replenish cash reserve.
XTO closed divestment of its interest in trust assets to Mach Natural Resources LP on April 30, 2025.
Mach assumed XTO's obligations under the trust indenture and operatorship of the underlying properties.
Advance bears interest at conveyance rate; XTO can recoup by withholding future distributions, subject to $250K cash floor.
Trust previously disclosed potential going concern; this advance is intended to provide short-term liquidity.

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