HUGOTON ROYALTY TRUST ANNOUNCES RESULTS OF SPECIAL MEETING

DALLAS, Feb. 24, 2023 /PRNewswire/ -- Hugoton Royalty Trust (OTCQB:HGTXU) (the "Trust") today announced that, at a special meeting of the Trust's unitholders held February 23, 2023, the unitholders of the Trust voted to approve the appointment of Argent Trust Company as successor trustee to serve as trustee of the Trust once the resignation of Simmons Bank, the current Trustee of the Trust, takes effect. The proposal regarding related amendments to the indenture of the Trust did not receive sufficient votes for approval. The effective date of the Trustee's resignation will depend on the satisfaction or waiver of the conditions set forth in the Trustee's notice of resignation and the Trust's definitive proxy statement, including approval of amendments to the Trust indenture (whether by unitholder approval or a court) necessary to permit Argent to serve as successor trustee.