Transaction Overview

LandBridge Company LLC ("LandBridge") announced the pricing of its initial public offering of 14,500,000 shares of common stock at a price to the public of $17.00 per share. The company has granted the underwriters an option to purchase up to an additional 2,175,000 shares at the initial public offering price. LandBridge’s shares are trading on the New York Stock Exchange under the ticker “LB.”

The net proceeds from the offering and the concurrent private placement are expected to be $236.1 million, after deducting underwriting discounts and commissions and estimated offering expenses and excluding any exercise of the underwriters' option to purchase additional common units. LandBridge intends to use the proceeds to pay down all outstanding borrowings, make distributions to the parent company, and for general company purposes.

Goldman Sachs and Barclays Capital are acting as lead bookrunners, Wells Fargo is acting as an active bookrunner, and Citigroup, Raymond James and Piper Sandler are acting as passive bookrunners. Janney Montgomery Scott, Pickering Energy Partners, and Texas Capital are acting as co-managers for the offering.

About LandBridge Company LLC

LandBridge was formed to acquire, manage, and expand a strategic surface position in the heart of the Delaware Basin. The Company currently owns approximately 220,000 surface acres in Texas and New Mexico located in the Delaware sub-basin of the prolific Permian Basin, which is among the most economic, liquids-rich hydrocarbon resources in the United States. LandBridge’s strategy is to actively manage their land and resources to support and encourage oil and natural gas development and other land uses that will generate long-term revenue and Free Cash Flow for the Company and returns to their shareholders.