D. Cockrell Investment Partners, L.P. v. Middle Pecos Groundwater Conservation District, Cause No. P-8626-83-CV (83 District Court)(Cockrell IV); and in Cockrell IV, the lawsuit was filed on August 17'" and served on September 13 by agreement. The District's answer and counterclaim were timely filed October gt". FSH has advised that it will intervene and file plea to the jurisdiction. Cockrell filed Plaintiff's First Amended Petition on August 5, 2024. Remains pending without further action. Parties are waiting for ruling from the Texas Supreme Court in Cockrell | and Cockrell {I. E. Cockrell Investment Partners, L.P. v. Middle Pecos Groundwater Conservation District, Cause No. P-13031-112-CV (112 District Court)(Cockrell V). Page 4of 5 ———————ZZ———— er Minutes of 11-18-2025 In Cockrell V, the lawsuit was filed on August 23 and served on September 13¢ by agreement. The District’s answer and counterclaim were timely filed October 9th FSH has advised that it will intervene and file plea to the jurisdiction. Cockrell filed Plaintiff's First Amended Petition on August 5, 2024. Remains pending without further action. Parties are waiting for ruling from the Texas Supreme Court in Cockrell | and Cockrell II. IX Progress Reports: Well Registrations, Production Permits, Drilling Permits, Data Loggers, Drought Monitor Map, Water Quality Analysis, and General Manager’s Correspondence. GMA #7 Joint Planning Meeting 11-06-2025 Reeves County-Signed Agenda November 2025 Rig Data 11-15-25 TPWMA October 2025 Operations Report TX Drought Map 11-11-2025 X Directors’ Comments and consider and/or act upon agenda for next meeting. Next Board meeting will be January 20, 2026. Xl Adjourn Board meeting. Wayne Tinkler made a motion to adjourn the meeting. Motion seconded by Puja Boinpally. Motion carried unanimously. The meeting adjourned at 12:04 p.m.

Bastiat Liberty & Property Rights Analysis

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 2.1/10). Under the Bastiat Liberty Watchdog Index, voting YES on measures that cap or reduce ad valorem tax burdens, expand taxpayer exemptions, retire debt early, enforce competitive bidding caps, or remove regulatory/zoning barriers to private property rights earns a positive Pro-Liberty score.