PERMIAN BASIN ROYALTY TRUST — Form 8-K

Permian Basin Royalty Trust declared a July cash distribution of $0.043566 per unit (payable Aug 14, 2026 to unitholders of record July 31, 2026) to 46,608,796 units outstanding, totaling $2,030,599.85. The distribution increased from the prior month primarily due to a $1,125,000 fourth settlement payment from Blackbeard Operating LLC and higher oil pricing at Texas Royalty Properties ($99.90/bbl vs. $88.42 prior month), partially offset by lower volumes and gas pricing ($8.61/Mcf vs. $9.50 prior month). Crucially, the Waddell Ranch properties generated no June proceeds as production costs exceeded gross proceeds, creating a continuing excess-cost position that must be recovered before future Waddell distributions can resume.