Announcement • Jul 02
NYSE to Commence Delisting Proceedings Against BP Prudhoe Bay Royalty Trust The New York Stock Exchange (“NYSE”, the “Exchange”) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the units of beneficial interest (“Units”) of BP Prudhoe Bay Royalty Trust (the “Company”) — ticker symbol BPT — from the NYSE. Trading in the Company’s Units will be suspended immediately. NYSE Regulation reached its decision to delist the Company’s Units pursuant to Listed Company Manual Section 802.01C, as the Company had fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading-day period and failed to cure this non-compliance within the required timeframe. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s Units upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. New Risk • Jan 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.87m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 12% per year over the past 5 years. Revenue is less than US$1m (US$257k revenue). Market cap is less than US$10m (US$9.87m market cap). Announcement • Jan 07
BP Prudhoe Bay Royalty Trust Receives Non-Compliance Notice from NYSE On December 31, 2024, BP Prudhoe Bay Royalty Trust received written notification (the Notice) from the New York Stock Exchange (NYSE) that as of December 30, 2024, the Trust no longer satisfied the continued listing compliance standards set under Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Trust's units of beneficial interest (the Units) was less than $1.00 over a 30 consecutive trading-day period. Upon receipt of the Notice, the Trust became subject to the procedures outlined in Section 802.01C of the NYSE Listed Company Manual and the Trust must bring the Unit price and average Unit price back above $1.00 by six months following receipt of the Notice. The Trust can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the Trust has a closing Unit price of at least $1.00 and an average closing Unit price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month cure period, both a $1.00 closing Unit price on the last trading day of the cure period and a $1.00 average closing Unit price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures. The Trust is required to notify the NYSE, within 10 business days of receipt of the Notice, of its intent to cure this deficiency or be subject to suspension and delisting procedures. As discussed above, the Trust terminated effective 11:59 PM on December 31, 2024, and the Trustee has commenced the process of winding-up the Trust. Neither the Trust nor the Trustee has any control over the trading price of the Units, nor does the Trust have the authority to cause a reverse split of the Units or to take similar action designed to affect the trading price of the Units without a vote of the unitholders. If the Trust were unable to regain compliance with the applicable standards within the six-month cure period, the NYSE will commence suspension and delisting procedures. Subject to the Trust's compliance with the other continued listing requirements set in the NYSE Listed Company Manual, during any applicable cure period, the Units are expected to continue to be listed and traded on the NYSE under the symbol BPT but in order to enhance information available to investors, the NYSE makes available on the consolidated tape an indicator, .BC, when a company is below the NYSE's quantitative continued listing standards. No assurance can be given that the Trust will be able to regain compliance with the NYSE requirement or maintain compliance with the other continued listing requirements set in the NYSE Listed Company Manual. If delisted by the NYSE, the Units may be transferred to the over-the-counter market, a significantly more limited market than the NYSE, which could affect the market price, trading volume, liquidity and resale price of the Units. 
