Business/Financial Results (Form 8-K)

PermRock Royalty Trust

News Release

PermRock Royalty Trust

Declares Monthly Cash Distribution

DALLAS, Texas, May 18, 2026 - 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 May 29, 2026, and payable on June 12, 2026, in the amount of $32,413.45 ($0.002664 per Trust Unit), based principally upon production during the month of March 2026.

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 $1.35 million for the current month, an increase of $0.53 million from the prior month's distribution period. T2S Permian Acquisition II LLC ("T2S") informed the Trust that this increase was primarily due to an increase in oil sales volumes and oil prices.

Natural gas cash receipts for the properties underlying the Trust totaled $0.04 million for the current month, a slight increase from the prior month's distribution period. T2S informed the Trust this slight increase was primarily due to an increase in natural gas sales volumes.

Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.93 million, an increase of $0.48 million from the prior month's distribution period. T2S informed the Trust that this increase was due to increases in marketing, lease operating expenses, and workover expenses.

Severance and ad valorem taxes included in this month's net profits calculation were $0.06 million, a slight increase of $0.02 million from the prior month's distribution period. T2S informed the Trust that this increase was primarily due to an increase in severance taxes.

Capital expenditures totaled $9,317 for the current month. T2S informed the Trust that these minimal capital expenses were related to intangible completion costs.

T2S informed the Trust that this month's net profits calculation included $50,000 net to the Trust of funds reserved by T2S to cover future ad valorem taxes.

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 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.