Permian Basin Royalty Trust unit holders approve non-binding proposal to seek judicial reformation of Trust Indenture

PERMIAN BASIN ROYALTY TRUST

27.9M of 46.6M outstanding units voted; quorum established at special meeting on Dec 16, 2025.
Indenture Reformation Proposal passed with 27.5M For, 245,868 Against, 167,062 Abstain; no broker non-votes.
Non-binding proposal supports changing amendment approval to simple majority of votes cast.
SoftVest Advisors, who requested the meeting, informed Trustee it intends to seek judicial reformation of the Trust Indenture.

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