Business/Financial Results (Form 8-K)

PermRock Royalty Trust

News Release

PermRock Royalty Trust

Declares Monthly Cash Distribution

DALLAS, Texas, April 17, 2025 - PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of April 30, 2025, and payable on May 14, 2025, in the amount of $289,632.56 ($0.023807 per Trust Unit), based principally upon production during the month of February 2025.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.50 million for the current month, a decrease of $0.12 million from the prior month's distribution period. This decrease was primarily due to a decrease in oil sales prices and volumes. Barrels of oil per day ("Bbls/d") increased compared to the prior month, however, total volumes were lower given a shorter production month in February 2025.

Natural gas cash receipts for the properties underlying the Trust totaled $0.11 million for the current month, an increase of $0.01 million from the prior month's distribution period. This increase was primarily due to an increase in natural gas sales prices.

Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.66 million, a decrease of $0.05 million from the prior month's distribution period. Severance and ad valorem taxes included in this month's net profits calculation were $0.14 million. Capital expenses were $0.05 million, a slight decrease of $0.01 million from the prior month's distribution period.

T2S Permian Acquisition II LLC ("T2S"), as the new operator of the properties underlying the Trust, informed the Trust that this month's net profits calculation included $48,000 net to the Trust of funds reserved by T2S to cover future capital obligations and expenses.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties now owned and operated by T2S in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.