Investor Presentaiton

Highest Cash Flow Yield Across Multiple Sectors Kimbell offers an attractive -11% yield versus the rest of the public space, including integrated companies and large cap E&Ps. In addition, royalty companies offer far superior cash yields as compared to the precious metals and REIT sectors as well as the S&P 500. Distribution/Dividend Yield Comparison 10.5% 8.0% KIMBELL ROYALTY PARTNERG 3.8% 3.0% 2.2% 2.0% 1.3% RoyaltyCo's Integrateds MSCI REIT Index Large-Cap E&P Precious Metal Producers S&P 500 39 Source: Capital IQ and Bloomberg as of 7/29/2021. RoyaltyCo: Average of VNOM, BSM, FLMN, MNRL and KRP distribution yield; Large-Cap E&Ps: Includes APA, COP, HES, MRO, MUR, OXY, DVN, OVV, COG; Integrateds: Includes CVX, XOM, CNQ, CVE, IMO, SU; Precious metal producers: Includes ABX, AEM, FCX, NEM, OR, RGLD, WPM. KIMBELL ROYALTY PARTNERS

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