☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38005 Kimbell Royalty Partners, LP (Exact name of registrant as specified in its charter) Delaware (State or other juris ...

Kimbell Royalty Partners (KRP) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Greetings, and welcome to the Kimball Royalty Partners First Quarter Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. And as a reminder, this conference is being recorded. It is now my pleasure to introduce to you Rick Black with Investor Relations. Thank you, Rick. You may begin. Speaker1 Thank you, operator, and good mo ...

Kimbell Royalty (KRP) came out with quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this company would post earnings of $0.19 per share when it actually produced a loss of $0.10, delivering a surprise of -152.63%.Over the last four quarters, the company h ...

Summer 2025 Investor Presentation Disclaimer This presentation includes forward-looking statements relating to the business, financial performance, results, production and other guidance and prospects for growth, plans, objectives and expectations of Kimbell Royalty Partners, LP ("KRP" or "Kimbell"). Statements that do not describe historical or current facts, including statements about beliefs and expectations and statements about the federal income tax treatment of future earnings and distributions, futur ...

Exhibit 99.1 NEWS RELEASE Kimbell Royalty Partners Announces Record First Quarter 2025 Results Record Oil, Natural Gas and NGL Revenues, Net Income of $25.9 million, Record Consolidated Adjusted EBITDA and Record Cash Available for Distribution Q1 2025 Run-Rate Daily Production of 25,841 Boe/d (6:1) Including a Full-Quarter of Acquired Production; Exceeds Mid-Point of Guidance Redeemed 50% of Outstanding Series A Cumulative Convertible Preferred Units, Further Simplifying Capital Structure and Reducing Cost ...

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Financial Data and Key Metrics Changes - Kimbell Royalty Partners reported oil, natural gas, and NGL revenues of $69.1 million for Q4 2024, excluding acquired production, with record run-rate production of 25,946 BOE per day including acquired production [14][15] - Consolidated adjusted EBITDA for Q4 2024 was $59.8 million, excluding acquired production [15] - The company announced a cash distribution of $0.40 per common unit for Q4 2024, with approximately 100% expected to be a return of capital [16] Business Line Data and Key Metrics Changes - The company maintained a strong drilling activity with 91 rigs actively drilling on its acreage, representing a 16% market share of all land rigs drilling in the continental U.S. [10][14] - The five-year annual average PDP decline rate is 14%, requiring only an estimated 6.5% net wells annually to maintain flat production [11] Market Data and Key Metrics Changes - Kimbell Royalty Partners has a conservative balance sheet with net debt to trailing twelve-month consolidated adjusted EBITDA of approximately 0.8 times [17] - The company had approximately $310.8 million in undrawn capacity under its secured revolving credit facility as of December 31, 2024 [17] Company Strategy and Development Direction - Kimbell aims to continue as a major consolidator in the fragmented U.S. oil and gas royalty sector, which is estimated to be over $700 billion in size [20] - The company is focused on larger acquisitions, targeting $100 million-plus deals, while remaining agnostic to commodity price movements [73][76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the prospects for continued robust development in 2025, supported by the number of rigs actively drilling on their acreage, especially in the Permian Basin [19] - The company believes it is well-positioned for continued growth and enhancing unitholder value in the future [12] Other Important Information - Kimbell completed a $230 million acquisition last month and introduced 2025 guidance with expected production at a new record guidance level [11][18] - The company plans to redeem about half of its preferred shares in May and will continue to use 25% of cash flow to pay down debt [44][50] Q&A Session Summary Question: Are there any particular basins where you're seeing an abundance of opportunity to add acreage? - Management noted that while the Permian continues to see the most consolidation, they are looking at opportunities across the U.S. without targeting a specific basin [25][26] Question: Has the new administration's regulatory changes affected opportunities? - Management indicated that the new administration has been supportive of increased domestic energy output, which benefits them as mineral owners [30] Question: Can you discuss the 2025 guidance and the quality of acquired assets? - Management stated that the guidance reflects flat growth for the year, with a strong line of sight inventory and confidence in the quality of acquired assets [38][41] Question: What are the plans for redeeming preferred shares? - Management confirmed plans to redeem about half of the preferred shares in May and will consider financing options for future acquisitions [44][50] Question: How does the competitive landscape for M&A look? - Management emphasized that they focus on high-quality properties at reasonable prices and do not plan to shift focus based on commodity price movements [62][63] Question: What is the opportunity set for future acquisitions? - Management indicated a focus on larger acquisitions, with a preference for $100 million-plus deals, as the mineral market continues to consolidate [75][78]

Table of Contents f UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38005 Kimbell Royalty Partners, LP (Exact name of registrant as specified in its charter) Delaware (State or other jurisdicti ...

Spring 2025 Investor Presentation Disclaimer Kimbell Mineral and Royalty Assets (1) Cash distribution yield reflects annualized Q4'24 distribution. Unit price calculated as of 2/25/2025. (2) Well count, M&A, and acreage numbers include mineral interests and overriding royalty interests. Includes the Company's $230.4 million acquisition from a private seller (the "Acquired Assets"), which closed on 1/17/2025 (3) Based on estimated major and minor upside net locations of 91.42 divided by estimated 6.5 net wel ...