Investor Presentaiton

33 October 2015 1998 With a handshake agreement in 1998, a small group of Fort Worth based investors laid the groundwork for what is now Kimbell February 2017 Kimbell completed IPO History Kimbell has a strong track record of success as a natural consolidator in the mineral and royalty industry 1998 2015 2016 2017 2018 Kimbell Royalty Partners, LP formed May 2018 Signed agreement to acquire Haymaker assets HAYMAKER MINERALS & ROYALTIES September 2018 July 2018 Completed conversion to C-Corp for taxation purposes; completed follow-on equity offering Closed acquisition of Haymaker assets for $444 million in cash and equity consideration March 2019 December 2018 Closed drop down acquisition for $90 million in equity consideration Closed Phillips acquisition from EnCap for $172 million in equity consideration; production nearly quadrupled since IPO June 2019 Entered into joint venture to aggregate minerals in the micro- market December 2019 Closed $36 million acquisition of mineral and royalty interests from Buckhorn Resources in all-equity transaction 2019 2020 November 2019 Closed the acquisition of various mineral and royalty interests in Oklahoma for $10 million April 2020 Closed $123 million acquisition of mineral and royalty interests from Springbok for cash and equity consideration KIMBELL ROYALTY PARTNERS December 2020 Closed on credit agreement amendment, increasing total commitments from $225 million to $265 million

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