Kimbell Royalty Partners LP (KRP) Announces Public Offering of Common Units

Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell") today announced that it has commenced an underwritten public offering of 9,000,000 common units representing limited partner interests, subject to market and other conditions. In connection with the offering, Kimbell intends to grant the underwriters an option to purchase up to 1,350,000 additional common units at the public offering price less the underwriting discount and commissions.

Kimbell intends to use the net proceeds from the offering for the repayment of outstanding borrowings under its revolving credit facility. At the closing of the pending acquisition of oil and natural gas mineral and royalty interests held by Boren Minerals (the "Acquisition"), as described in Kimbell's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on January 7, 2025, Kimbell intends to fund the cash portion of the purchase price of the Acquisition and related fees and expenses from future borrowings under its revolving credit facility.

Citigroup, J.P. Morgan, and RBC Capital Markets are acting as lead book-running managers for the offering. When available, a copy of the preliminary prospectus for the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 800-831-9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via email at [email protected]; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, by telephone at 877-822-4089 or by email at [email protected].

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