$GULTU

Gulf Coast Ultra Deep Royalty Trust is a statutory trust headquartered in Houston, Texas. It holds a 5% gross overriding royalty interest in future production from specified oil and gas exploration prospects in the shallow waters of the Gulf of Mexico and onshore in South Louisiana. Its interests are non-operating: the trust receives a share of production proceeds without bearing drilling, development or operating costs, though certain post-production costs and taxes apply. The trust does not operate wells or acquire other oil and gas properties. The trust’s only subject interest with established commercial production is the onshore Highlander interest, where the producing well was plugged and abandoned. HOGA spudded a new well on January 30, 2025, which reached total depth of 30,862 feet on February 17, 2026. The trust’s income comes from royalties on production; after expenses and debt repayment, available cash may be distributed pro rata to unitholders.