Black Stone Minerals, L.P.

During the three months ended September 30, 2025, none of our directors or executive officers adopted orterminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

Form 8-K

Item 1.01 Entry into a Material Definitive Agreement

On October 31, 2025, Black Stone Minerals Company, L.P., as borrower (the “Borrower”) under that certain Fifth Amended and Restated Credit Agreement, dated as of October 31, 2025, by and among the Borrower, Wells Fargo Bank, National Association, as administrative agent, and the lenders signatory thereto (the “Credit Agreement”), together with Black Stone Minerals, L.P. (the “Partnership”) and certain of its other subsidiaries, as guarantors, entered into the First Amendment to Fifth Amended and Restated Credit Agreement (the “First Amendment”). The First Amendment principally modifies the Credit Agreement to (i) extend the maturity date from October 31, 2027 to October 31, 2030 and (ii) reduce the adjustment applied to SOFR loans.

The foregoing description of the First Amendment is not complete and is qualified in its entirety by reference to the full text of the First Amendment, which is attached hereto as Exhibit 10.2 to this Quarterly Report on Form 10-Q and incorporated by reference into this Item 1.01.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is incorporated herein by reference.