SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR NOVEMBER 2025

DALLAS, Nov. 7, 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 $0.356720 per unit, payable on November 28, 2025, to unit holders of record on November 17, 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://www.sbr-sabine.com/. Additionally, printed reports can be requested and are mailed free of charge.

This distribution reflects primarily the oil production for August 2025 and the gas production for July 2025, which is considered current production. Preliminary production volumes are approximately 65,727 barrels of oil and 1,135,345 Mcf of gas. Preliminary prices are approximately $63.80 per barrel of oil and $2.55 per Mcf of gas.

This month's distribution is lower than the previous month's primarily due to a decrease in oil and natural gas pricing, along with deductions for the payment of Ad Valorem taxes during the month (see below). This is partially offset by an increase in oil and natural gas production. 

The table below compares this month's production and prices to the previous month's:

Revenues are only distributed after they are received, verified, and posted. Most energy companies normally issue payment of royalties on or about the 25^th of every month, and depending on mail delivery, a varying amount of royalties are not received until after the revenue posting on the last business day of the month. The revenues received after that date will be posted within 30 days of receipt.

Due to the timing of the end of the month of October, approximately $831,000 of revenue received will be posted in the following month of November in addition to normal cash receipts received during November. Since the close of business in October and prior to this press release, approximately $1,603,000 in revenue has been received.

Approximately $942,000 for 2025 Ad Valorem taxes were deducted from this month's distribution as compared to $167,000 this time last year. In 2024, the Trustee was advised that some of the tax renditions were delayed somewhat, which impacted the months of November 2024 and December 2024. Ad Valorem tax payments are normal expenditures at this time of year.

The 2024 Annual Report with Form 10-K and the December 31, 2024, Reserve Summary are available on the Sabine website at http://www.sbr-sabine.com/. 

Forward-looking Statements

Any statements in this press release about future events or conditions, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," "may," "intends" and similar expressions, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors or risks that could cause the Trust's actual results to differ materially from the results the Trustee anticipates include, but are not limited to the factors described in Part I, Item 1A, "Risk Factors" of the Trust's Annual Report on Form 10-K for the year ended December 31, 2024, and Part II, Item 1A, "Risk Factors" of subsequently filed Quarterly Reports on Form 10-Q.

Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this press release represent the Trustee's views as of the date hereof. The Trustee anticipates that subsequent events and developments may cause its views to change. However, while the Trustee may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Trustee's views as of any date subsequent to the date hereof.

SOURCE Sabine Royalty Trust