Year Ended December 31,

2025

2024

2023

(In thousands)

Net income (loss) attributable to common units of Kimbell Royalty Partners, LP

$

56,037

$

(8,839)

$

60,142

Net adjustment to accretion of redeemable non-controlling interest in Kimbell Tiger Acquisition Corporation and write-off of deferred underwriting commissions

—

1,572

Net (loss) income attributable to common units of Kimbell Royalty Partners, LP after accretion of redeemable non-controlling interest in Kimbell Tiger Acquisition Corporation and write-off of deferred underwriting commissions

56,037

(8,839)

61,714

Distribution and accretion on Series A preferred units

34,852

21,091

6,310

Net income (loss) attributable to non-controlling interests in OpCo and distribution to Class B unitholders

8,762

(1,182)

16,554

Diluted net income attributable to common units of Kimbell Royalty Partners, LP

$

99,651

$

11,070

$

84,578

Weighted average number of common units outstanding:

Basic

90,803

76,240

66,595

Effect of dilutive securities:

Series A preferred units

14,506

21,566

6,500

Class B units

14,495

17,116

18,851

Restricted units

1,503

1,127

1,112

Diluted

121,307

116,049

93,058

Net income per unit attributable to common units of Kimbell Royalty Partners, LP

Basic

$

0.62

$

(0.12)

$

0.93

Diluted

$

0.62

$

(0.12)

$

0.91