Sec Form 3 Filing - Ustx, LLC @ PermRock Royalty Trust - 2025-03-31

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Ustx, LLC 2. Issuer Name and Ticker or Trading Symbol PermRock Royalty Trust [ PRT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 1800 WAZEE STREET, SUITE 318 3. Date of Earliest Transaction (MM/DD/YY) 03/31/2025 (Street) DENVER, CO80202 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Units of Beneficial Interest 4,884,861 ( 1 ) ( 2 ) ( 3 ) D ( 4 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Ustx, LLC 1800 WAZEE STREET, SUITE 318 DENVER, CO80202 X T2S Permian Acquisition II LLC 1800 WAZEE STREET, SUITE 318 DENVER, CO80202 X Greenway Boaz Investments LLC 12222 MERIT DRIVE, SUITE 1130 DALLAS, TX75251 X Greenway Boaz Management LLC 12222 MERIT DRIVE, SUITE 1130 DALLAS, TX75251 X Signatures Ustx LLC | By: T2S Permian Acquisition, its manager | By: Thomas Pritchard, its Chief Executive Officer | /s/ Thomas Pritchard 04/08/2025 Signature of Reporting Person Date T2S Permian Acquisition II LLC | By: David T. Martineau, its manager | /s/ David T. Martineau 04/08/2025 Signature of Reporting Person Date Greenway Boaz Investments LLC | By: Greenway Boaz Management LLC, its manager | By: David T. Martineau, its manager | /s/ David T. Martineau 04/08/2025 Signature of Reporting Person Date Greenway Boaz Management LLC | By: David T. Martineau, its manager | /s/ David T. Martineau 04/08/2025 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On March 31, 2025, pursuant to that certain Purchase and Sale Agreement (the "Agreement"), dated January 10, 2025, by and among Boaz Energy II, LLC ("Boaz Energy"), Boaz Energy II Royalty, LLC, a wholly-owned subsidiary of Boaz Energy ("Boaz Royalty," and together with Boaz Energy, the "Seller"), and T2S Permian Acquisition II LLC ("T2S Permian"), the Seller completed the sale to T2S Permian of (i) 4,884,861 units of beneficial interest ("Trust Units") of PermRock Royalty Trust (the "Issuer") held by Boaz Energy (the "Subject Trust Units"), as subsequently assigned by T2S Permian to Ustx LLC ("Ustx") pursuant to that certain Partial Assignment of Purchase and Sale Agreement, dated March 31, 2025, by and among T2S Permian, Ustx, and the Seller, and (ii) certain other oil and gas properties held by the Seller. Ustx is the sole record and beneficial owner of the Subject Trust Units. ( 2 )T2S Permian does not directly own any Trust Units. By virtue of owning 100% of the limited liability company interests in Ustx, T2S Permian may be deemed to indirectly beneficially own the Subject Trust Units. Greenway Boaz Investments LLC ("Greenway Investments") does not directly own any Trust Units. By virtue of owning approximately 50.2% of the limited liability company interests in T2S Permian, Greenway Investments may be deemed to indirectly beneficially own a portion of the Subject Trust Units. Greenway Boaz Management LLC ("Greenway Management"), the manager of Greenway Investments, may be deemed to share investment control over a portion of the Subject Trust Units and therefore may also be deemed to be a beneficial owner of a portion of the Subject Trust Units. T2S Permian, Greenway Investments, and Greenway Management disclaim beneficial ownership of the Subject Trust Units except to the extent of their respective pecuniary interests therein. ( 3 )This form shall not be deemed an admission that T2S Permian, Greenway Investments, or Greenway Management is the beneficial owner of all or any portion of the Subject Trust Units for purposes of Section 16 or for any other purpose. ( 4 )This form is filed jointly by each of the undersigned entities. As described above, Ustx directly owns the Subject Trust Units. All other reporting persons' ownership is indirect through T2S Permian.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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