Investor Presentaiton

Kimbell has an Optimal Balance of Unconventional and Conventional Assets Kimbell has approximately 23% of its overall production from conventional assets including certain Enhanced Oil Recovery (EOR) projects. This conventional production provides a base level of production stability that helps facilitate overall organic production growth as new unconventional wells come online. In addition, EOR oil production has been notably flat over the last 20 years (0.0% 20-Year CAGR). 16 Oil Gas 17.0% 67.7% 32.3% 12.2% 81.6% 18.4% 20.1% ■ Unconventional Conventional EOR ▪ Non-EOR NGL 1.4% ■ Unconventional Conventional EOR ▪ Non-EOR Total Production (Boe)(1) 16.1% 19.7% 76.6% 23.4% 7.3% 73.0% 27.0% 7.3% ■ Unconventional Conventional EOR Non-EOR Note: Graphs reflect estimated production from internal reserve report as of 6/30/2021. (1) Shown on a 6:1 basis ■ Unconventional Conventional EOR Non-EOR KIM BELL ROYALTY PARTNERS

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