Texas Pacific Land Corp.

Texas Pacific Land Corporation (which, together with its subsidiaries as the context requires, may be referred to as TPL, the Company, our, we, or us ) is a Delaware Corporation and one of the largest landowners in the State of Texas with approximately 882,000 surface acres of land, principally concentrated in the Permian Basin. Additionally, we own a 1/128th nonparticipating perpetual oil and gas royalty interest ( NPRI ) under approximately 85,000 acres of land, a 1/16th NPRI under approximately 371,000 acres of land, and approximately 33,000 additional net royalty acres (normalized to 1/8th) ( NRA ), for a collective total of approximately 224,000 NRA, principally concentrated in the Permian Basin. The Company was originally organized as Texas Pacific Land Trust (the Trust ) under a Declaration of Trust, dated February 1, 1888 (the Declaration of Trust ), to receive and hold title to extensive tracts of land in the State of Texas, previously the property of the Texas and Pacific Railway Company. The Declaration of Trust provided for the appointment of trustees (the Trustees ) to manage the assets of the Trust with all of the powers of an absolute owner. On January 11, 2021, the Trust completed its reorganization from a business trust, Texas Pacific Land Trust, into Texas Pacific Land Corporation, a corporation formed and existing under the laws of the State of Delaware (the Corporate Reorganization ). Our surface and royalty ownership provide revenue opportunities throughout the oil and gas development value chain.