Kimbell Royalty Partners, LP — Director's Dealing 2017

May 17, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Kimbell Royalty Partners, LP (KRP)
CIK: 0001657788
Period of Report: 2017-05-12

Reporting Person: Taylor Brett G. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-12	Common units representing limited partner interests	A	22637	—	Acquired	22637	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common units representing limited partner interests	68021	Indirect
Common units representing limited partner interests	31476	Indirect
Common units representing limited partner interests	4911	Indirect
Common units representing limited partner interests	2172	Indirect
Common units representing limited partner interests	721	Indirect
Common units representing limited partner interests	721	Indirect
Common units representing limited partner interests	380	Indirect

Footnotes

F1: These securities are owned directly by Brett G. Taylor Royalty Trust. The reporting person is the sole trustee and sole beneficiary of Brett G. Taylor Royalty Trust.

F2: These securities are owned directly by BGT Royalty Partners, LP. The reporting person is the sole member of BGT Minerals, LLC, a limited partner of BGT Royalty Partners, LP.

F3: These securities are owned directly by Aledo Royalty Company. The reporting person is both (i) the sole trustee and sole beneficiary of Brett G. Taylor Royalty Trust, a general partner of Aledo Royalty Company, and (ii) a general partner of Neuhoff-Taylor Royalty Company, a general partner of Aledo Royalty Company.

F4: These securities are owned directly by BRD Royalty Holdings LLC. The reporting person is the sole member of BRD Royalty Holdings LLC.

F5: These securities are owned directly by FWA Partners, LLC. The reporting person is the sole trustee and sole beneficiary of Brett G. Taylor Royalty Trust, a member of FWA Partners, LLC.

F6: These securities are beneficially owned by Trinity Minerals. Such Common Units represent the amount of consideration received by Trinity Minerals that is attributable to Mr. Taylor's participation interest in certain of the assets contributed by Trinity Minerals, the title holder of such assets, to the Issuer pursuant to the Contribution Agreement.

F7: These securities are owned directly by RCPTX Holdings Genpar, LLC. The reporting person is the sole member of BGT Minerals, LLC, a limited partner of BGT Royalty Partners, LP, the sole member of RCPTX Holdings Genpar, LLC.