On November 4, 2021, Simmons Bank, as trustee (the “Trustee”) of PermRock Royalty Trust (the “Registrant”), announced
that it has entered into an agreement with Argent Trust Company, a Tennessee chartered trust company (“Argent”), pursuant to which the Trustee will be resigning as trustee of the Registrant and will nominate Argent as successor trustee of
the Registrant. The Trustee’s resignation as trustee, and Argent’s appointment as successor trustee, are subject to certain conditions set forth in the agreement, including approval by the unitholders of the Registrant and of certain other
trusts of which Simmons Bank acts as trustee (or a court) of (i) Argent’s appointment as successor trustee and (ii) any amendments to the trust agreement of the Registrant and the trust agreements and indentures of the other trusts
necessary to permit Argent to serve as successor trustee.
Forward-looking Statements
Any statements in this Current Report on Form 8-K about plans for the Registrant, the expected timing
of the completion (if any) of the proposed resignation of the Trustee or appointment of a successor trustee, 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 Registrant’s actual results to differ materially from the results it anticipates include, but are not limited to the inability of the Trustee to resign or Argent to assume
duties as successor trustee due to the failure to obtain necessary unitholder or court approval or the failure to satisfy other conditions in the Trustee’s agreement with Argent.
Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements
included in the materials 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.
Additional Information and Where to Find It
In connection with the Trustee’s proposed resignation and nomination of Argent as successor trustee, the Registrant will file with the SEC
and furnish to the unitholders a proxy statement and other relevant documents. This Current Report on Form 8-K does not constitute a solicitation of any vote or approval. Unitholders are urged to read the
proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed transaction or incorporated by reference in the proxy statement because they will contain important information about the
proposed transaction.
Unitholders will be able to obtain a free copy of documents filed with the SEC at the SEC’s website at
http://www.sec.gov. In addition, unitholders may obtain a free copy of the Registrant’s filings with the SEC from the Registrant’s website at http://www.permrock.com/ or by directing a request to the Trustee by calling (855) 588-7839.
