Investor Presentaiton

Royalty Interest Overview Land and Resource Management Net Royalty Position and Rigs Running on Core TPL Acreage Delaware ▲▲ A Basin Dawson Gaines Borden Midland Basin Scurry Source: Note: (1) (2) New Mexico Texas Eddy Culberson Jeff Davis Reeves Central Lea Basin Platform Andrews Martin Ector Midland Winkler Loving Ward Crane Pecos Upton TEXAS EST 1888 PACIFIC LAND CORP Net Royalty Acres Distribution Northern Delaware 9.0% Southeast J 11.1% Delaware Howard 38.8% Mitchell NRA(1): ~23,700 Southwest Delaware 19.5% Midland Other Cok Sterling Glasscock Tom G 21.6% Key Operators with a Permian Focus OXY ConocoPhillips 14% 19% Chevron devon 4% Irion Reagan 2% 3% Royalty Acreage 7% (~533,260 Gross Royalty Acres/~23,700 Net Royalty Acres) Net Wells(2); 72.4 ExxonMobil DIAMONDBACK Energy 11% Seog resources APA Corporation Surface Acreage (~874,000 acres) 8% 9% Combined Royalty & Surface Acreage COTERRA PIONEER NATURAL RESOURCES 3% A Active Rigs on TPL Royalty (42 Rigs - 27 Delaware, 15 Midland) 11% 9% bp Other Active Permian Rigs (340 Rigs - 188 Delaware, 137 Midland, 15 Other) Company data and Enverus as of 12/31/22. Rigs on TPL based on intersect of well-lateral centroid on TPL Royalty Acreage DSUs. Rig counts include active Horizontal, Directional and Unclassified rigs per Enverus Rig Analytics. Net royalty acres defined as gross royalty acres (~533,260) multiplied by the average royalty per acre (4.4%) as of 4Q 2022. Includes net 57.7 PDP, 7.4 DUCS, 2.3 Completed and 5.0 Permitted wells (represents only horizontal locations) as of 12/31/22. NYSE: TPL 5

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