Item 8.01. Other Events.

On November 4, 2021, Simmons Bank, as trustee (the "Trustee") of Sabine Royalty Trust (the "Registrant"), announced that it has entered into an agreement with Argent Trust Company, a Tennessee chartered trust company ("Argent"), pursuant to which the Trustee will be resigning as trustee of the Registrant and will nominate Argent as successor trustee of the Registrant. The Trustee's resignation as trustee, and Argent's appointment as successor trustee, are subject to certain conditions set forth in the agreement, including approval by the unitholders of the Registrant and of certain other trusts of which Simmons Bank acts as trustee (or a court) of (i) Argent's appointment as successor trustee and (ii) any amendments to the trust agreement of the Registrant and the trust agreements and indentures of the other trusts necessary to permit Argent to serve as successor trustee.

Forward-looking Statements

Any statements in this Current Report on Form 8-K about plans for the Registrant, the expected timing of the completion (if any) of the proposed resignation of the Trustee or appointment of a successor trustee, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," "may," "intends" and similar expressions, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors or risks that could cause the Registrant's actual results to differ materially from the results it anticipates include, but are not limited to the inability of the Trustee to resign or Argent to assume duties as successor trustee due to the failure to obtain necessary unitholder or court approval or the failure to satisfy other conditions in the Trustee's agreement with Argent.

Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in the materials represent the Trustee's views as of the date hereof. The Trustee anticipates that subsequent events and developments may cause its views to change. However, while the Trustee may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Trustee's views as of any date subsequent to the date hereof.

Additional Information and Where to Find It

In connection with the Trustee's proposed resignation and nomination of Argent as successor trustee, the Registrant will file with the SEC and furnish to the unitholders a proxy statement and other relevant documents. This Current Report on Form 8-K does not constitute a solicitation of any vote or approval. Unitholders are urged to read the proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed transaction or incorporated by reference in the proxy statement because they will contain important information about the proposed transaction.

Unitholders will be able to obtain a free copy of documents filed with the SEC at the SEC's website at http://www.sec.gov. In addition, unitholders may obtain a free copy of the Registrant's filings with the SEC from the Registrant's website at http://www.sbr-sabine.com/ or by directing a request to the Trustee by calling (855) 588-7839.

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The Registrant, the Trustee and the Trustee's directors, executive officers and certain other members of management and employees of the Trustee may be deemed "participants" in the solicitation of proxies from unitholders of the Registrant in favor of the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the unitholders of the Registrant in connection with the proposed transaction, and their direct or indirect interests, by security holdings or otherwise, which may be different from those of the Registrant's unitholders generally, will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. You can find information about the Trustee in the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2020.

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