Permianville Royalty Trust Announces Monthly Operational Update

Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced the net profits interest calculation for May 2024. The net profits interest calculation represents reported oil production for the month of February 2024 and reported natural gas production during January 2024. The calculation includes accrued costs incurred in March 2024.

As a result of the cumulative outstanding net profits shortfall, which declined from approximately $4.5 million in the prior month to approximately $3.9 million in the current month, no distribution will be paid in June 2024 to the Trust’s unitholders of record on May 31, 2024. As discussed below, distributions cannot resume until the cumulative net profits shortfall is eliminated. Excluding the current shortfall, income from the net profits interest would have been approximately $0.6 million in the current month.

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

Underlying Sales Volumes

Average Price

Oil

Natural Gas

Oil

Natural Gas

Bbls

Bbls/D

Mcf

Mcf/D

(per Bbl)

(per Mcf)

Current Month

38,824

1,339

253,759