PermRock Royalty Trust — Director's Dealing 2018

May 7, 2018

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: PermRock Royalty Trust (PRT)
CIK: 0001724009
Period of Report: 2018-05-04

Reporting Person: Boaz Energy II, LLC (10% Owner)
Reporting Person: NGP X US Holdings LP (10% Owner)
Reporting Person: NGP Boaz Energy II Co-Invest LLC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Trust Units representing Beneficial Interests	12165732	Direct

Footnotes

F1: Pursuant to a Conveyance of Net Profits Interest agreement (the "Conveyance") entered into between Boaz Energy II, LLC ("Boaz Energy") and Boaz Energy II Royalty, LLC, a wholly-owned subsidiary of Boaz Energy ("Boaz Royalty" and, together with Boaz Energy, the "Boaz Group"), the Boaz Group conveyed a net profits interest in certain properties located in the Permian Basin in Texas to the Issuer, effective as of January 1, 2018, in exchange for 12,165,732 units in the Issuer (the "Trust Units"). The Securities and Exchange Commission declared the Issuer's Registration Statement on Form S-1 (File No. 333-224191) relating to an offering of the Trust Units effective on May 1, 2018.

F2: This form is filed jointly by each of the undersigned entities. Boaz Energy directly owns the Trust Units. All other reporting persons' ownership is indirect through Boaz Energy.