North European Oil Rty Tr SEC Filings

North European Oil Royalty Trust is holding its Annual Meeting of Unit Owners on February 17, 2026 at 11:00 a.m. EST via Zoom for holders of record as of December 31, 2025. Unit owners will vote on Proposal One, the election of four incumbent Trustees, and Proposal Two, an advisory vote to approve the compensation of the Trust’s Managing Director.

The Trust has 9,190,590 units outstanding, each with one vote. The Managing Director’s total compensation was $152,615 in fiscal 2025, up from $148,753 in 2024, and is set at $153,336 for fiscal 2026. Trustee fees are based on a formula tied to gross royalties, with additional flat amounts for roles such as Managing Trustee, Audit Committee Chair, and Clerk.

The proxy details governance structures, including an all‑independent board under NYSE rules, separate Managing Trustee and Managing Director roles, active Audit and Compensation Committees, and policies on related‑party transactions, auditor oversight, and insider trading and anti‑hedging.

North European Oil Royalty Trust reports a strong fiscal 2025, with gas, sulfur and oil royalties rising to $8.65 million from $5.79 million, driven mainly by higher German gas prices and a stronger Euro despite lower gas volumes. Net income increased to $7.94 million, or $0.86 per unit, and total cash distributions grew to $0.81 per unit. The Trust remains a passive royalty vehicle with 9,190,590 units outstanding as of October 31, 2025, holding overriding royalty interests in the Oldenburg concession in Germany, where gas provides about 94% of royalty income. Management highlights that these royalty interests are depleting assets, production volumes are declining, and the Trust depends on operators’ drilling and investment decisions, but internal controls and cybersecurity oversight are described as effective. A cost depletion percentage of 8.9814% was calculated for 2025 for unit holders’ tax reporting.

North European Oil Royalty Trust filed an 8-K reporting that it issued a press release announcing the distribution for the fourth quarter of fiscal 2025. The release, dated October 31, 2025, was disseminated via Cision PR Newswire and is furnished as Exhibit 99 under Item 2.02 (Results of Operations and Financial Condition).

The Trust’s Units of Beneficial Interest trade on the NYSE under NRT.

North European Oil Royalty Trust (NRT) reported higher royalty receipts and distributions in the third quarter and first nine months of fiscal 2025. For the third quarter ended July 31, 2025, total royalty income was $2,617,231 (up 6.5%) and net income was $2,459,107 (up 6.1%). The Trustees declared a distribution of $0.26 per unit for the quarter versus $0.21 a year earlier, with 9,190,590 units outstanding.

For the nine months ended July 31, 2025, total royalty income rose to $5,594,229 (+9.4%) and net income to $5,005,581 (+10.5%). Distributions per unit for the nine months were $0.50 versus $0.46. Results were driven primarily by higher gas prices and a stronger average euro/dollar exchange rate; natural gas accounted for about 93% of cumulative royalty income in fiscal 2025. Financial statements are prepared on a modified cash basis and reflect significant concentration of royalty economics in western Oldenburg, which supplies a small share of sales but the majority of royalties.