• No dividend was distributed for May 2026 due to excess cost positions across all three net profits interest conveyances.
• Cash reserve fell by $8,000 to cover trust expenses; any future net profits would first be used to rebuild reserves.
• Management does not foresee distributions in the near term; no unitholder distributions have been made since July 2023.
• Excess costs remain elevated, including $3.29 million in Kansas, $15.06 million in Oklahoma, $12.74 million in Wyoming.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hugoton Royalty Trust published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-360252), on August 21, 2026, and is solely responsible for the information contained therein.