Kimbell Royalty Partners LP

Rule 10b5-1 Plans

On March 18, 2024, amember of our Board of Directors, Mitch Wynne, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 27,539 common units between June 18, 2024, and December 18, 2024, subject to certain conditions.

On November 29, 2023, Brett G. Taylor, Executive Vice Chairman of the Board of Directors, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 125,833 common units between March 1, 2024, and December 31, 2024, subject to certain conditions. As of March 19, 2024, all shares had been sold under the plan.

Amendment to LTIP

On May 1, 2024, the Board of Directors approved and adopted the First Amendment (the “First Amendment”) to the Amended and Restated Kimbell Royalty GP, LLC 2017 Long-Term Incentive Plan (“A&R LTIP”). The First Amendment increases the number of common units available to be awarded under the A&R LTIP by 4,684,622 common units (which brings the total number of common units available to be awarded under the LTIP, after taking into account previously awarded common units, to 6,765,012 common units). We expect that the common units available to be awarded under the A&R LTIP will be granted over a period of several years, dependent on approval from the conflicts and compensation committee of the Board of Directors.

The foregoing description of the First Amendment is qualified in its entirety by reference to the text of the First Amendment which is filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q and is incorporated by reference herein.