MARINE PETROLEUM TRUST

MARINE PETROLEUM TRUST is a royalty trust created in 1956 under Texas law. Effective December 30, 2022, Argent Trust Company, a Tennessee chartered trust company, became the corporate trustee. The Trust's sole purpose is to administer and liquidate rights to payments from specific oil and natural gas leases in the Gulf of America (formerly known as the Gulf of Mexico). These rights originate from license agreements and amendments between the Trust's predecessors and Gulf Oil Corporation. Over time, these interests were largely held by Chevron Corporation and are now predominantly held by its assignees, including Arena Energy, LP. The Trust holds title to interests in properties located offshore of Texas. The Trust is not permitted to engage in any business activity. Its indenture requires the corporate trustee to distribute all cash in the Trust, after reserving for accrued liabilities and estimated future expenses, to unitholders of record on the last business day of February, May, August, and November. Payments are scheduled for the 28th day of September, December, March, and June of each fiscal year. If the 28th falls on a Saturday, Sunday, or legal holiday, the distribution is payable on the next succeeding business day. The Trust's term is set to expire on June 1, 2041, unless extended by a majority vote of outstanding units of beneficial interest. Effective October 19, 2017, Simmons First National Corporation completed its acquisition of First Texas BHC, Inc., the parent company of Southwest Bank. Simmons First National Corporation is the parent of Simmons Bank.