SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR APRIL 2025 Dallas, Texas, April 4, 2025 – Argent Trust Company, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.503880 per unit, payable on April 29, 2025, to unit holders of record on April 15, 2025. Sabine's cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and ...

DALLAS, April 4, 2025 /PRNewswire/ -- Argent Trust Company, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.503880 per unit, payable on April 29, 2025, to unit holders of record on April 15, 2025. Sabine's cash distribution history, current and prior year financial reports and tax information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http: ...

Cash Distribution - January 2025 cash distribution declared at $0.448330 per unit, payable on January 29, 2025[2] Production Volumes - Preliminary production volumes: 76,247 barrels of oil and 1,617,815 Mcf of gas[3] - Current month oil production increased to 76,247 bbls from 68,183 bbls in the prior month[4] - Current month gas production increased to 1,617,815 Mcf from 1,536,640 Mcf in the prior month[4] Pricing - Preliminary prices: $67.70 per barrel of oil and $1.61 per Mcf of gas[3] - Average gas price increased to $1.61 per Mcf from $1.39 per Mcf in the prior month[4] - Average oil price decreased to $67.70 per bbl from $71.76 per bbl in the prior month[4] Revenue and Taxes - $259,000 deducted for 2024 Ad Valorem taxes, compared to $223,000 last year[7] - Approximately $232,000 of revenue received in December will be posted in January[6] - $116,000 in revenue received between December close and this press release[6]

Financial Performance - As of December 31, 2024, the Trust's total assets amounted to $9,250,361, a decrease from $9,437,825 in 2023, reflecting a decline of approximately 1.98%[235] - Royalty income for the year ended December 31, 2024, was $82,569,642, down 11.25% from $93,012,044 in 2023[237] - Distributable income for 2024 was $79,642,694, representing a decrease of 11.73% compared to $90,251,235 in 2023[237] - The Trust's cash and short-term investments decreased to $9,169,742 in 2024 from $9,342,423 in 2023, a decline of 1.85%[235] - Total liabilities decreased to $543,429 in 2024 from $878,919 in 2023, a reduction of approximately 38.25%[235] - Distributions to unit holders in 2024 were $79,479,885, down from $93,084,745 in 2023, indicating a decrease of 14.66%[240] - The distributable income per unit for 2024 was $5.46, down from $6.19 in 2023, reflecting a decrease of 11.77%[237] - The Trust's total general and administrative expenses for 2024 amounted to $3.528 million, slightly down from $3.564 million in 2023[271] Asset and Reserve Information - The Trust's corpus at the end of 2024 was $8,706,932, an increase from $8,558,906 in 2023, marking a growth of 1.73%[240] - As of December 31, 2024, the Trust's proved oil reserves increased to 8,872 thousand barrels, and proved gas reserves increased to 64,236 thousand Mcf[275] Royalty Income and Adjustments - Total royalty income for 2024 was $82.569 million, with distributable income of $79.642 million, resulting in a distributable income per unit of $5.46[272] - In the fourth quarter of 2024, royalty income was $19.419 million, and distributable income was $18.572 million, leading to a distributable income per unit of $1.27[272] - Royalty income, net of severance and ad valorem taxes, decreased by $82,570,000 in 2024, compared to a decrease of $93,012,000 in 2023 and $125,749,000 in 2022[280] - Changes in prices, net of related costs, resulted in a decrease of $25,194,000 in 2024, while in 2023, it was a decrease of $121,929,000, and in 2022, an increase of $118,200,000[280] - Revisions of previous estimates and other adjustments contributed $104,784,000 in 2024, compared to $112,627,000 in 2023 and $106,918,000 in 2022[280] Tax and Regulatory Information - The Trust does not engage in foreign currency transactions or hold derivative financial instruments, minimizing exposure to related market risks[222] - The Trust is exempt from Texas franchise tax as a passive entity, benefiting Unit holders by not subjecting the Trust's income to state income tax[281] - Unit holders may have state filing responsibilities in Louisiana, Florida, Mississippi, New Mexico, or Oklahoma, despite the Trust not owing tax in those states[282] - The Trust has filed tax returns for 2022 and 2023 with the States of Oklahoma and New Mexico requesting refunds for withheld taxes[267] Future Projections - The standardized measure of discounted future net cash inflows for 2024 is $280,325,000, an increase from $257,550,000 in 2023 but a decrease from $327,149,000 in 2022[279] - Future net cash inflows for 2024 are projected at $549,340,000, compared to $524,282,000 in 2023 and $657,947,000 in 2022[279] - The discount of future net cash flows at a rate of 10% is $269,015,000 for 2024, up from $226,732,000 in 2023 and down from $330,798,000 in 2022[279] Miscellaneous - The Trust's royalty receipts in suspense pending verification of ownership or title were $231,645 as of December 31, 2024, down from $370,430 in 2023[268] - The Trust's royalty income is recognized in the month received, pending verification of ownership and title, rather than in the month of production[262] - The Trustee has not identified any impairment of assets as of December 31, 2024[259] - The Trust's basic distributable income per unit and distributable income per unit assuming dilution are the same, as there were no equivalent units outstanding[261] - As of February 18, 2025, NYMEX posted oil prices were approximately $72.21 per barrel, compared to the average price of $72.91 per barrel used for calculations[280] - NYMEX posted gas prices as of February 18, 2025, were $6.40 per million British thermal units, significantly higher than the average price of $1.795 per million British thermal units used for calculations[280]

Cash Distribution - The Registrant announced a monthly cash distribution to unitholders of record on October 15, 2024[3] - The press release regarding the cash distribution was issued on October 4, 2024[3] Regulatory Information - The information provided is not deemed "filed" under the Securities Exchange Act of 1934[3] - The report includes a reference to the Securities Act of 1933 and the Securities Exchange Act of 1934[3] Company Classification - The Registrant is not classified as an emerging growth company[2] - The Registrant has not elected to use the extended transition period for new financial accounting standards[2] Report Details - The report was signed by Nancy Willis, Director of Royalty Trust Services, on behalf of Argent Trust Company[4] - The report is being furnished pursuant to Item 2.02, Results of Operations and Financial Condition[3] Company Information - The Registrant's principal executive offices are located in Dallas, Texas[1] - The Registrant's telephone number is 855 588-7839[1]

Cash Distribution - The Registrant announced a monthly cash distribution to unitholders of record on September 16, 2024[2] - The press release regarding the cash distribution was issued on September 6, 2024[2] Financial Reporting - This report is furnished pursuant to Item 2.02, focusing on Results of Operations and Financial Condition[2] - The information provided is not deemed "filed" under the Securities Exchange Act of 1934[2] - The report is signed by Nancy Willis, Director of Royalty Trust Services at Argent Trust Company[4]

Distribution Announcement - Argent Trust Company declared a cash distribution of $0.537640 per unit for the Sabine Royalty Trust, payable on June 28, 2024, to unit holders of record on June 17, 2024 [1] - The distribution reflects oil production for March 2024 and gas production for February 2024, with preliminary production volumes of approximately 75,929 barrels of oil and 1,359,458 Mcf of gas [2] Production and Pricing Analysis - The current month's distribution is lower than the previous month due to a decrease in oil production and a decrease in natural gas prices, although this was partially offset by an increase in oil prices and natural gas production [3] - Current prices are approximately $81.23 per barrel of oil and $2.13 per Mcf of gas, compared to the previous month's prices of $76.02 per barrel of oil and $2.53 per Mcf of gas [7] Revenue Posting and Timing - Revenues are distributed only after they are received, verified, and posted, with most energy companies issuing royalty payments around the 25th of each month [4] - Approximately $244,000 of revenue received in May will be posted in June, in addition to normal cash receipts during June, with about $890,000 in revenue received since the end of May [5]