Item 5.07. Submission of Matters to a Vote of Security Holders.

Hugoton Royalty Trust (the "Trust") held a special meeting of its unitholders on February 23, 2023, at 3:00 p.m., Central Time, at Shady Oaks Country Club, 320 Roaring Springs Road, Fort Worth, Texas 76114 (the "Special Meeting").

At the Special Meeting, unitholders of the Trust were asked to consider and vote upon (i) the appointment of Argent Trust Company as successor trustee of the Trust, (ii) an amendment to the Hugoton Royalty Trust Indenture dated December 1, 1998, as amended and restated on March 24, 1999 (the "Trust Indenture"), that would permit a bank or trust company with capital, surplus and undivided profits of at least $15,000,000 to serve as successor trustee of the Trust, and (iii) to approve an adjournment of the Special Meeting, if necessary or appropriate, to permit solicitation of additional proxies in favor of the above proposals.

Of the 40,000,000 units outstanding and entitled to vote as of the record date for the Special Meeting, 28,301,462 units were present at the Special Meeting in person or by proxy. As such, a quorum was established at the Special Meeting.

The proposals voted on by the unit holders at the Special Meeting and the voting results are set forth below.

1. Proposal 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, was approved by the following vote:



                     For         Against   Abstain   Broker Non-Votes
                  27,421,862     732,941   146,659          0

2. Proposal to approve an amendment to the Trust Indenture to permit a trust company which has a capital, surplus and undivided profits (as of the end of its last fiscal year prior to its appointment) of at least $15,000,000 to serve as trustee of the Trust, was not approved by the following vote:



                     For         Against   Abstain   Broker Non-Votes
                  27,180,296     936,904   184,260          0

3. Proposal to approve the adjournment of the Special Meeting, if necessary or appropriate, to permit solicitation of additional proxies in favor of the above proposals, was approved by the following vote:



                     For         Against   Abstain   Broker Non-Votes
                  27,197,495     786,429   317,533          0

On February 24, 2023, the Trust issued a press release announcing the voting results of the Special Meeting. The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

As previously disclosed, the resignation of Simmons Bank, as trustee, and Argent's appointment as successor trustee, are subject to certain conditions set forth in an agreement between Simmons Bank and Argent, including approval by the unitholders (or a court) of any amendments to the Trust Indenture necessary to permit Argent to serve as successor trustee.

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Forward-looking Statements

Any statements in this Current Report on Form 8-K and the exhibits filed or furnished herewith about plans for the Registrant, the expected timing of the completion (if any) of the proposed resignation of the Trustee or appointment of a successor trustee, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," "may," "intends" and similar expressions, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors or risks that could cause the Registrant's actual results to differ materially from the results it anticipates include, but are not limited to the inability of the Trustee to resign or Argent Trust Company to assume duties as successor trustee due to the failure to obtain necessary unitholder or court approval or the failure to satisfy other conditions to the Trustee's resignation set forth in the Trustee's notice of resignation and the Trust's definitive proxy statement.

Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this material represent the Trustee's views as of the date hereof. The Trustee anticipates that subsequent events and developments may cause its views to change. However, while the Trustee may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Trustee's views as of any date subsequent to the date hereof.

Item 9.01 Financial Statements and Exhibits.



                             d.   Exhibits

                                    99.1 Press Release dated February 24, 2023.

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