Your Unit Holdings

Effective April 2, 2026, the transfer agent and registrar changed from Equiniti (formerly American Stock Transfer & Trust Company) to Vinyl Equity (“Vinyl”). For inquiries and to reach out to Vinyl, see below “How do I contact Vinyl?”

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If you bought common units of Black Stone Minerals, L.P. (“BSM”) in its initial public offering or in the open market since the IPO, those units are held through your broker.

If you held units in our predecessor, Black Stone Minerals Company, L.P. (“BSMC”), your BSMC common units were converted into BSM common units. These units are now held in book-entry form at Vinyl.

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You will not be charged for holding your common units at Vinyl. If you would like to transfer your units to your brokerage account, you should contact your brokerage firm to determine its fees.

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Log in to Vinyl's online platform at https://app.vinylequity.com/signin using the email address associated with your units. There you can view your active holding details and the number of registered units you own, and you can generate DRS Statements. For assistance accessing your account, contact Vinyl at inquiries@vinylequity.com.

For information on the sale or assignment of your units, see "Transfer of Units" below.

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BSM does not maintain individual unitholder records: Vinyl maintains those records. To confirm your unit ownership, access the Vinyl platform at https://app.vinylequity.com/signin, or contact Vinyl using the details below.

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Vinyl recommends unitholders directly access their registered account online at

Alternatively, Vinyl may be reached by mail, e-mail, or phone as follows:

Vinyl Equity, Inc.
Shareholder Services
PO Box 247
Winnetka, IL, 60093

inquiries@vinylequity.com

Toll free 1-888-808-4695, press 3.

Any Vinyl representative can pull up your account and assist you—there is no need to reach a specific person.

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Transfer of Units

Common units issued to former BSMC unitholders or in connection with a private placement bear a restrictive legend that must be removed before they can be transferred to a brokerage account. The process has three steps:

  1. Legend removal — Contact Vinyl at inquiries@vinylequity.com to begin the legend removal process.
  2. DRS Statement — Once the legend is removed, you’ll be notified and can login to generate an unrestricted DRS Statement through Vinyl's platform.
  3. Broker deposit — Provide the DRS Statement to your broker, who will initiate the deposit into your brokerage account.

 Note: If you received common units directly from BSM (e.g., in exchange for minerals), the holding-period requirements under Rule 144 of the Securities Act of 1933 must be satisfied before the legend can be removed. Transfer requests submitted before the holding period has elapsed will be rejected.

BSM cannot transfer your units directly. For questions regarding transfer, contact your broker or Vinyl.

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If you purchased BSM common units in the initial public offering or on the open market since the IPO, those units are freely tradable through your broker.

If your common units were converted from BSMC holdings or were issued to you in a private placement, they cannot be sold directly through Vinyl. You must first transfer them to a brokerage account. These units bear a restrictive legend that must be removed before transfer: see "Can I transfer my units to my brokerage account?" above.

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Generally, yes. You may request that Vinyl transfer your units, but you may be required to obtain a medallion signature guarantee from a financial institution to complete the transfer. For more details or for assistance please contact the Vinyl team at inquiries@vinylequity.com.

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A medallion signature guarantee verifies your identity and your authority to transfer securities. This guarantee is not the same as a notarization; it can only be obtained from a financial institution (such as a bank, credit union, or brokerage firm) that participates in an approved Medallion Program such as STAMP, SEMP, or MSP. To obtain a medallion signature guarantee, please visit a financial institution that participates in the Medallion Program.

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Vinyl requires your written consent with a medallion signature guarantee to transfer common units to any third party other than your broker. If you choose to supply a broker with your DRS account information, your broker is responsible for obtaining instructions and documentation for any transfer or sale.

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BSM’s common units are publicly traded on the New York Stock Exchange under the ticker “BSM”.

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Because BSM’s common units are publicly traded, we do not currently offer any repurchase option.

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Distributions

Distributions on units held at Vinyl are paid through Vinyl, not directly from BSM. You will receive payment using the details Vinyl has on file.

If you previously received distributions by ACH, you may receive checks until you provide your banking information to Vinyl. BSM was not permitted to transfer your bank-account information to Vinyl.

Distributions on common units held at a broker will be made to your brokerage account.

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Yes. Payment information can be added to your account on Vinyl's platform online at https://app.vinylequity.com/signin.  Unitholders without payment information on file will be contacted via email to request this information.

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BSM will announce the amount and timing of any distributions on a quarterly basis. While BSM has not established a specific schedule for distributions, distributions will be paid within 60 days after the end of a quarter.



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