Permian Basin Royalty Trust declares $0.020355/unit distribution; Waddell Ranch in excess cost; court modifies indenture

PERMIAN BASIN ROYALTY TRUST

Cash distribution $0.020355/unit payable June 12, 2026 to holders of record May 29, 2026.
Waddell Ranch properties in excess cost position; no proceeds included for second consecutive month.
Texas Royalty Properties contributed $998,283; oil at $73.83/bbl, gas $9.23/Mcf.
Court approved SoftVest petition lowering amendment threshold from 75% to majority; eliminates prohibited amendment section.
Distribution decreased due to third settlement payment from Blackbeard ($1.125M) included in prior month.

item 2.02item 9.01

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