Item 8.01 Other Events.

On April 10, 2023, CIC RMX LP (the "Warrant Holder") exercised in full its warrant (the "Warrant") to purchase shares of the common stock of Royale Energy, Inc. (the "Company"). The Warrant Holder elected to make a cashless exercise of the Warrant and, as a result, the Company issued 3,266,055 shares of its common stock to the Warrant Holder.

The Warrant Holder is a partnership that is sponsored by CIC Partners. CIC Partners is a Dallas, Texas based middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, industrial, and healthcare industries.

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