Permian Basin Royalty Trust declares $0.013198/unit December distribution; special meeting approves SoftVest proposal

PERMIAN BASIN ROYALTY TRUST

Cash distribution $0.013198/unit payable Jan 15, 2026 to holders of record Dec 31, 2025; decreased from prior month on lower oil volumes and pricing.
Texas Royalty Properties contributed $754,012; oil 11,957 bbls at $60.17/bbl, gas 10,456 Mcf at $8.32/Mcf.
Waddell Ranch properties remain in excess cost position; no proceeds received in November; future distributions require cost recovery.
At special meeting Dec 16, 2025, ~59.9% of outstanding units (98.5% of votes cast) approved non-binding proposal to amend Trust Indenture by simple majority; SoftVest intends judicial reformation.

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