BBVA USA, as Trustee of the San Juan Basin Royalty Trust declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $1,396,530.57 or $0.029963 per Unit, based primarily upon production during the month of November 2019, subject to certain adjustments by the operator of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”), for prior months. The distribution is payable February 14, 2020, to Unit Holders of record as of January 31, 2020.