HUGOTON ROYALTY TRUST DECLARES NO FEBRUARY CASH DISTRIBUTION

Core Viewpoint - Argent Trust Company announced there will be no cash distribution to unitholders for February 2025 due to excess cost positions on all three of the Trust's conveyances of net profits interests [1] Financial Performance - The Trust's cash reserve was reduced by $88,000 for Trust expenses [1] - Underlying gas sales volumes for the current month were 672,000 Mcf, while oil sales volumes were 15,000 Bbls [2] - Average prices for gas and oil in the current month were$3.83 per Mcf and $66.06 per Bbl, respectively, compared to$2.81 per Mcf and $66.93 per Bbl in the prior month [2] Excess Costs - Cumulative excess costs remaining on the Kansas net profits interests total$1,710,000, including accrued interest of $134,000 [4] - Cumulative excess costs remaining on the Oklahoma net profits interests total$2,510,000, including accrued interest of $409,000 [5] - Cumulative excess costs remaining on the Wyoming net profits interests total$8,107,000, including accrued interest of $480,000 [6] Development Costs - XTO Energy reported combined development costs for two additional non-operated wells in Major County, Oklahoma, are anticipated to be approximately$5.7 million underlying, with $4.5 million net to the Trust [7] - As of the date of the report,$10.5 million underlying ($8.4 million net to the Trust) in development costs have been charged to the Trust for four non-operated wells [8] Future Outlook - The Trustee and XTO Energy will continue to provide updates on the six non-operated wells in subsequent communications [9]