San Juan Basin Royalty Trust has released its financial results for the three months ended June 30, 2025. The Trust reported Royalty Income associated with natural gas and oil production during the period from February through April 2025. The results indicate that the production of natural gas and oil and related average sales prices attributable to the Subject Interests and the Royalty have experienced variations compared to the same period in 2024. The Trust has highlighted that the gas and oil sales attributable to the Royalty are based on an allocation formula dependent on factors such as price, cost, and capital expenditures. This implies that the aggregate sales amounts from the Subject Interests may not directly correlate to sales attributable to the Royalty. The financial prospects of San Juan Basin Royalty Trust are subject to various risks and uncertainties that could affect future results. However, specific outlook or guidance details were not disclosed in the current report. The Trust remains committed to updating its stakeholders as required by applicable law.