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Kimbell Royalty Partners LP | Fall 2026 Investor Presentation | Robert Ravnaas | Page 30 of 11 | October 16, 2026

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2026 2025 2023 2022 2021 2020 2019 2018 2017 2016 2015 1998 History 30 Kimbell has a strong track record of success as a natural consolidator in the mineral and royalty industry Closed Phillips acquisition from EnCap for $172 million in equity consideration; production nearly quadrupled since IPO With a handshake agreement in 1998, a small group of Fort Worth based investors laid the groundwork for what is now Kimbell Kimbell Royalty Partners, LP formed Kimbell completed IPO 1998 October 2015 February 2017 July 2018 Closed acquisition of Haymaker assets for $444 million in cash and equity consideration December 2018 Closed drop down acquisition for $90 million in equity consideration Completed conversion to C- Corp for taxation purposes; completed follow-on equity offering September 2018 March 2019 April 2020 Closed $123 million acquisition of mineral and royalty interests from Springbok for cash and equity Closed $57 million acquisition of mineral and royalty interests from Cornerstone and completed the full redemption of Series A Preferred Stock December 2021 Closed $271 million acquisition of mineral and royalty interests from Hatch for cash and equity December 2022 May 2023 Closed $141 million acquisition of mineral and royalty interests from MB Minerals for cash and equity consideration MB Minerals September 2023 Closed $455 million acquisition of mineral and royalty interests from LongPoint for cash consideration January 2025 Closed $230 million acquisition of mineral and royalty interests from private seller for cash consideration Private Seller June 2026 Closed $145.9 million acquisition of mineral and royalty interests from Mesa for cash and equity