Investor Presentaiton

Upside Location Drilling Inventory (Major (1) Properties Only) Gross Location Breakdown (2) Appalachia Rockies 2% 2% Bakken 20% Permian 30% 10,160 Gross Locations Mid-Con 15% Eagle Ford 18% Net Location Breakdown (2) Appalachia 3% Rockies 2% Bakken 7% Permian 28% Mid-Con 10% 68.14 Net Locations Haynesville 25% Eagle Ford 25% Haynesville 13% Remaining Drilling Inventory by Basin (2) Basin Permian Eagle Ford Haynesville Mid-Con Bakken Appalachia Rockies Total (Major Properties Only) Major Gross Locations 3,017 Major Net Locations 19.20 Avg. Gross Horizontal Wells/DSU(3) 12.0 1,846 17.28 6.9 1,309 17.04 5.9 1,489 6.38 6.8 2,042 4.51 8.5 247 2.17 7.6 210 1.56 10.5 10,160 68.14 8.3 Locations only include Kimbell's major properties in major basins and do not include minor properties, which generally have less than 0.1% net revenue interest and are time consuming to quantify, but in the estimation of Kimbell's management could add up to an additional 20% to Kimbell's net inventory in the aggregate. For a description of major properties and basins, see page 6. Assumes forecasted pricing of $55.00/$2.75 flat. Locations include Permits, proven undeveloped (PUD), Probable, and Possible (per SPE-PRMS reserve definitions based on internal reserves database as of 3/31/2021). Excludes DUCS and small interest wells (minor properties). Note: Includes only horizontal locations. (1) 8 (2) (3) Gross horizontal wells per DSU from internal reserves database as of 3/31/2021, DSU sizes vary. KIMBELL ROYALTY PARTNERS

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