Permianville Royalty Trust (PVL) investor relations material

Executive summary

• Q2 distributable income was $1.122 million, or $0.034 per unit, versus $282,084, or $0.008548 per unit, a year earlier; H1 distributable income was $2.541 million.

• Higher natural gas sales and production offset lower oil sales and prices; H1 net profits from the underlying properties reached $4.8 million, versus a $1.1 million deficit in H1 2025.

Financial highlights

• Q2 income from the net profits interest was $1.632 million versus $419,589 YoY; H1 was $3.587 million versus $419,589.

• Q2 net profits attributable to the underlying properties rose 79% to $3.478 million; H1 reached $4.797 million, versus a $1.078 million deficit in H1 2025.

• June 30 cash and cash equivalents were $3.347 million; net profits interest carrying value was $33.057 million and total assets were $36.404 million.

Outlook and guidance

• Development activity is expected to remain elevated through year-end; natural gas production is expected to grow at a more moderate pace, while oil production may improve slightly but remain reduced.

• 2026 capital spending guidance reaffirmed at $9.0–$15.0 million gross, or $7.2–$12.0 million net to the 80% net profits interest; most remaining spend is expected in Haynesville.

• Projects in drilling or pre-drilling are expected to begin production in H2 2026 and H1 2027; timing and capex remain subject to operator revisions.