Permian Basin Royalty Trust Investor Relations Material

Permian Basin Royalty Trust (PBT) is an oil and gas royalty trust that holds overriding royalty interests in properties located in Texas. These include a 75% net overriding royalty interest in the Waddell Ranch properties, which consist of a combination of productive oil and gas wells, and a 95% net overriding royalty interest in the Texas Royalty properties, which also include several oil wells. The Trust's primary function is to distribute the royalties it receives from these assets, net of administrative costs, to its unit holders. PBT has no operations or capital expenditures, functioning purely as a pass-through entity for royalty income. The company is headquartered in Dallas, Texas, and its shares are listed on the NYSE.