PERMIAN BASIN ROYALTY TRUST ANNOUNCES RECORD DATE AND MEETING DATE FOR SPECIAL MEETING TO CONSIDER SOFTVEST PROPOSALS

PERMIAN BASIN ROYALTY TRUST ANNOUNCES RECORD DATE AND MEETING DATE FOR SPECIAL MEETING TO CONSIDER SOFTVEST PROPOSALS PR Newswire

DALLAS, Oct. 23, 2026 /PRNewswire/ -- Argent Trust Company, as trustee ("Trustee") of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian" or the "Trust"), today announced that it has received a request from SoftVest Advisors, LLC ("SoftVest"), together with other holders of units of beneficial interest ("Units") who collectively with SoftVest own more than 15% of the outstanding Units of the Trust, to call a special meeting ("Special Meeting") of the Trust's Unit holders to be held on November 23, 2026, with a record date of October 13 , 2026. The purpose of the Special Meeting requested by the Unit holders is to present for a vote by the Trust's Unit holders (i) a proposal to approve and adopt the terms of an amendment to the Trust Indenture to effect the Business Combination pursuant to the Combination Agreement (as set forth in the proxy statement / prospectus included in the Form S-4 filed with the Securities and Exchange Commission by PBT Land and Minerals, Inc. ("New PBT"), SoftVest, SoftVest, L.P., SoftVest GP I, LLC, and Eric L. Oliver (the "Participants") and declared effective on October 23, 2026, (ii) a proposal to approve and adopt the terms of the PBT Land and Minerals, Inc. Omnibus Incentive Plan, and (iii) a proposal to authorize an adjournment of the Special Meeting, if necessary or appropriate, to permit solicitation of additional proxies in favor of the aforementioned proposals. In accordance with the terms of the Trust's Indenture, the Trustee intends to call the Special Meeting. Additional details regarding the Special Meeting will be set forth in the Trustee's notice of special meeting to be mailed to Unit holders beginning on October 23, 2026 and are also set forth in the Form S-4.