North European Oil Royalty Trust — Fourth Quarter Fiscal 2026 Earnings Summary

Financial Performance:

• Announced a distribution of $0.20 per unit for the fourth quarter of fiscal 2026, a decrease from $0.31 per unit in the fourth quarter of fiscal 2025.
• The Q4 fiscal 2026 distribution of $0.20 per unit compares to $0.26 per unit for the third quarter of fiscal 2026.
• The cumulative 12-month distribution is $0.90 per unit, which is $0.09 per unit (11.1%) higher than the prior 12-month distribution of $0.81 per unit.
• Royalty payments are calculated based on the amount of royalties payable to the Trust in the prior calendar quarter.
• An overpayment of royalties occurred in Q4 fiscal 2026 due to the shutdown of the de-sulfurization plant for maintenance, creating a negative carry-over.

Guidance and Future Outlook:

• The negative carry-over generated by the Q4 fiscal 2026 overpayment is expected to reduce royalty income paid to the Trust in the first fiscal quarter of 2027.
• Consequently, the cash distribution to unit owners for the first fiscal quarter of 2027 is expected to be decreased.
• Future distributions are subject to risks including depleting assets, levels of gas production, gas sale prices, general economic conditions, and currency exchange rates.

Business Segments and Product Lines:

• The Trust receives royalties under the Mobil and OEG Royalty Agreements.
• Monthly scheduled royalty payments are paid based on the amount of royalties payable to the Trust in the prior calendar quarter.

Risks and Challenges:

• Assets are depleting; if operators do not perform additional development projects, assets may deplete faster than expected.
• Risks include uncertainties concerning gas production levels, gas sale prices, general economic conditions, and currency exchange rates.
• Potential risks involve the ability or willingness of operating companies to perform under contractual obligations and potential disputes with operating companies.
• Geopolitical and economic uncertainty may impact operations.

Management Commentary and Tone:

• The Trust Administrator, Edwin Sapienza, is the designated contact for inquiries regarding the distribution and Trust information.
• The press release notes that the shutdown of the de-sulfurization plant for maintenance resulted in the overpayment affecting future distributions.

Other Key Points:

• The $0.20 distribution for Q4 fiscal 2026 is payable on November 30, 2026, to owners of record on November 17, 2026.
• The Trust makes quarterly distributions to unit owners in the months of February, May, August, and November to the extent available.
• Detailed information regarding royalty agreements will be available in the Trust's 10-K filing on or about January 15, 2027.
• Forward-looking statements are subject to the Private Securities Litigation Reform Act of 1995 safe harbor provisions.