University Lands FY24 Annual Report

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FY24 HIGHLIGHTS & PERFORMANCE

Fiscal Year 2024 Net Performance

$1.98 Billion GROSS REVENUE

$1.85B PERMANENT UNIVERSITY FUND REVENUE (MINERALS) $127M AVAILABLE UNIVERSITY FUND REVENUE (SURFACE) 3.1 MM LATERAL FEET PUT-ON-PRODUCTION 291 WELLS PUT-ON-PRODUCTION 33.7 MMboe

1.67 BBOE NET TOTAL RESOURCE 375 MMBOE NET PROVED RESERVES $28M EXPENSES 1.4% OF GROSS REVENUE $0.83 EXPENSES/BOE

NET ROYALTY PRODUCTION

BBOE - billions of barrels of oil equivalent MMBOE - billions of barrels of oil equivalent

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