
Monthly Operational Update (July 2025) Permianville Royalty Trust's July 2025 operational update covers distribution status, sales volumes, financial performance, and future outlook Distribution Announcement Permianville Royalty Trust announced no monthly distribution will be paid in August 2025 due to a net profits shortfall of approximately $0.3 million, primarily caused by elevated capital expenditures - No monthly distribution will be paid in August 2025 to unitholders3 - A shortfall of approximately $0.3 million occurred in the current month3 - The shortfall resulted from direct operating and development expenses exceeding cash receipts, driven by elevated capital expenditures3 Operational Performance (Sales Volumes & Prices) The Trust reported underlying oil and natural gas sales volumes and average wellhead prices for the current and prior months, showing slight decreases in oil volumes and prices, and decreased natural gas volumes but increased prices Underlying Sales Volumes and Average Prices (Current vs. Prior Month) | | Oil (Bbls) | Oil (Bbls/D) | Natural Gas (Mcf) | Natural Gas (Mcf/D) | Oil (per Bbl) | Natural Gas (per Mcf) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Current Month | 33,340 | 1,111 | 405,522 | 13,081 | $63.10 | $2.85 | | Prior Month | 33,806 | 1,091 | 435,227 | 15,544 | $68.01 | $2.62 | Financial Performance (Cash Receipts & Expenses) Oil cash receipts decreased by $0.2 million, while natural gas cash receipts increased by $0.1 million; accrued operating expenses remained consistent, but capital expenditures rose by $0.2 million to $1.2 million, primarily due to three Haynesville wells Cash Receipts and Expenses (Current vs. Prior Month) | Metric | Current Month | Change from Prior Month | | :--- | :--- | :--- | | Oil Cash Receipts | $2.1 million | Down $0.2 million | | Natural Gas Cash Receipts | $1.2 million | Up $0.1 million | | Accrued Operating Expenses | $2.4 million | Consistent | | Capital Expenditures | $1.2 million | Up $0.2 million | - Elevated capital expenditures were primarily due to the continued completion of three Haynesville wells, recently brought online in Q2 20257 Future Outlook & Shortfall Impact The current net profits shortfall will be deducted from future net profits, delaying distributions until the shortfall and prior expense advancements are eliminated, with the Sponsor anticipating a return to positive net profits in 2025 - The current month's net profits shortfall will be deducted from next month's net profits interest calculation8 - No further distributions will be made until the net profits shortfall and any expense advancements or borrowed funds are repaid8 - The Sponsor anticipates the Underlying Properties will return to generating positive net profits in 2025, based on current commodity prices8 - The recently completed Haynesville wells are expected to start generating working interest revenues attributable to the net profits interest in the coming months7 About Permianville Royalty Trust Permianville Royalty Trust is a Delaware statutory trust holding an 80% net profits interest from oil and natural gas production in non-operated properties across Texas, Louisiana, and New Mexico, with distributions fluctuating based on various factors - Permianville Royalty Trust is a Delaware statutory trust9 - The Trust owns a net profits interest representing the right to receive 80% of the net profits from oil and natural gas production9 - The underlying properties are predominantly non-operated and located in Texas, Louisiana, and New Mexico9 - Periodic distributions are expected to fluctuate based on actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and administrative expenses9 Forward-Looking Statements & Risks This section outlines the forward-looking nature of statements regarding future distributions, revenues, and net profits, emphasizing significant risks from commodity price volatility, Trust expenses, and potentially higher future capital expenditures, which could lead to reduced or no distributions - Forward-looking statements include anticipated distributions, future revenues from recently completed wells, and future generation of net profits10 - Distributions are directly affected by the volatility in commodity prices, which can fluctuate significantly due to factors beyond the Trust's control10 - Low oil and natural gas prices will reduce profits and cash available for distribution, potentially resulting in no distributions10 - Other important factors causing material differences include Trust expenses, reserves for anticipated future expenses, and potential for future monthly capital expenditures to exceed average levels10 - Investment in Trust units is subject to risks detailed in the Trust's SEC filings, including the Annual Report on Form 10-K for the year ended December 31, 202410 Contact Information This section provides the contact details for Permianville Royalty Trust, including the Trustee's name, address, and phone number for inquiries - Contact for Permianville Royalty Trust is The Bank of New York Mellon Trust Company, N.A., as Trustee11 - Address: 601 Travis Street, 16 Floor, Houston, Texas 7700211 - Phone: Sarah Newell 1 (512) 236-655511