Texas Pacific Land Corporation · NYSE:TPL

Texas Pacific Land — Corporate Update (May 2024)

15 slides from Texas Pacific Land's corporate update, May 8, 2024

  1. Slide 1: Produced Water Desalination and Beneficial Reuse

    Texas Pacific Land Corporation (NYSE: TPL) May 2024 Produced Water Desalination and Beneficial Reuse Exhibit 99.3

  2. Slide 2: TPL Innovation – Produced Water Desalination and Beneficial Reuse

    TPL Innovation – Produced Water Desalination and Beneficial Reuse Leveraging our expertise, asset base, and technology to provide essential produced water solutions 2 Texas Pacific Land Corporation (“TPL”), within its wholly-owned subsidiary Transmissive Water Services (“Transmissive”), has develope

  3. Slide 3: Produced Water Overview

    Produced Water Overview 3 Produced water is natural saltwater that is a co-product from an oil and gas well  Contains oil, suspended solids, and heavy metals  Salinity of produced water is often 3-4X as salty as ocean water  Due to its quality, produced water without desalination has limited uses

  4. Slide 4: Produced Water from Permian to Continue Growing

    Produced Water from Permian to Continue Growing Clean and sustainable alternatives to traditional produced water disposal are needed at scale 4 Permian Produced Water Volumes (mmbbl/d) Delaware Basin Well CompletionsWater-to-Oil (“WOR”) Ratio by Oil Basin1 Robust oil and gas development activity in

  5. Slide 5: Produced Water Desalination Technology Overview

    Produced Water Desalination Technology Overview 5 TPL has developed desalination technology that leverages the differing water freeze points across salinity levels Close collaboration with top-tier technology partner in the industrial freezing industry Fractional freezing more energy efficient than

  6. Slide 6: TPL Advancing Beneficial Reuse R&D

    TPL Advancing Beneficial Reuse R&D 6 Greenhouse Pilot Outdoor Alfalfa Plot Data Analysis and Plant Toxicology Pecos River discharge Greenhouse pilot tested various soil, plant, and water quality conditions and was used to design the RRC Pilot study Transmissive has applied to discharge high quality

  7. Slide 7: Striving for Sustainability Beyond Current Regulatory Environmental Standards

    Striving for Sustainability Beyond Current Regulatory Environmental Standards 7  Texas Railroad Commission (“RRC”) granted TPL a pilot permit to irrigate a small alfalfa field near TPL’s Midland Yard  Water standards meet requirements of this permit, and TPL has implemented testing procedures in c

  8. Slide 8: Key Milestones Accomplished and Accelerating Further Commercial Development

    Key Milestones Accomplished and Accelerating Further Commercial Development 8 Proof of concept: freeze desalination works and pathway to affordable cost Collaborating with a top-tier technology and manufacturing partner in the industrial refrigeration and freezing industry Secured exclusive use-righ

  9. Slide 9: Appendix

    Appendix

  10. Slide 10: TPL by the Numbers

    Texas Pacific Land Corporation (NYSE: TPL) TPL by the Numbers1 Market Value ($MM) $13,550 Cash & Equivalents ($MM) $837 Debt ($MM) $0 Net Royalty Acres (100% net basis) ~23,700 Normalized to 1/8th ~195,000 Surface Acres ~868,000 2023 Adj. EBITDA Margin 86% 2023 FCF Margin 66% Average daily trading v

  11. Slide 11: Sustainability is Embedded in Our Strategy

    Sustainability is Embedded in Our Strategy 11 Key Opportunities Carbon Management  Government policies incentivize sustainable energy projects (e.g., carbon capture, utilization and storage) and TPL can reposition its business to take advantage of the opportunities created by these policies Water M

  12. Slide 12: Our Environmental Management Initiatives

    Our Environmental Management Initiatives 12 Incidents and Spill Prevention Control  Implementation of Spill Prevention, Control, and Countermeasure plan and protocol for water assets, which are equipped with tech / containment protections  Thorough tracking and monitoring of all spills; informatio

  13. Slide 13: EBITDA Reconciliation

    Year ended December 31, Three months ended, ($ in millions) 2018 2019 2020 2021 2022 2023 1Q23 2Q23 3Q23 4Q23 1Q24 Net income 209.7$ 318.7$ 176.1$ 270.0$ 446.4$ 405.6$ 86.6$ 100.4$ 105.6$ 113.1$ 114.4$ Income tax expense 52.0 83.6 43.6 93.0 122.5 111.9 23.8 26.8 29.4 32.0 31.6 Depreciation, depletio

  14. Slide 14: Disclaimers

    Disclaimers This presentation has been designed to provide general information about Texas Pacific Land Corporation and its subsidiaries (“TPL” or the “Company”). Any information contained or referenced herein is suitable only as an introduction to the Company. The recipient is strongly encouraged t

  15. Slide 15: Texas Pacific Land Corporation

    1700 Pacific Avenue, Suite 2900 Dallas, Texas 75201 Texas Pacific Land Corporation

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