Marine Petroleum Trust

Marine Petroleum Trust is a royalty trust established in 1956 under Texas law. The Trust's sole purpose is to administer and liquidate rights to payments from specific oil and natural gas leases located in the Gulf of America (formerly known as the Gulf of Mexico). These rights originated from license agreements and amendments between the Trust's predecessors and Gulf Oil Corporation, now Chevron U.S.A., Inc. ("Chevron"). Since 1956, these interests have been largely held by Chevron Corporation and are now predominantly held by its assignees, including Arena Energy, LP ("Arena"). The Trust holds title to interests in properties situated offshore of Texas. The Trust is prohibited from engaging in any business activity. Its corporate trustee, Argent Trust Company (effective December 30, 2022), distributes all cash in the Trust, after reserving for accrued liabilities and estimated future expenses, to unitholders. Distributions are made 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 holders.