CKX LANDS, INC.

CKX Lands, Inc. (NYSE American: CKX) is a Louisiana-based real estate and natural resource company that generates income from mineral royalties, timber sales, and surface payments derived from its land holdings. Founded in 1930 as Calcasieu Real Estate & Oil Co., Inc., the company originated as a bank spinoff created to hold non-producing mineral interests. Over decades of operations, CKX evolved into a diversified land management company with approximately 7,023 net acres located principally in southwest Louisiana.

The company's revenue streams are derived from three primary sources. Oil and gas revenues, representing approximately 50 percent of total revenues, come from royalty interests and mineral leases on company lands. CKX maintains small royalty interests in 20 different producing oil and gas fields, with individual interests ranging from 0.0045 percent to 7.62 percent. The company does not conduct exploration or operate wells; rather, third-party operators handle all production activities. Timber revenues, comprising approximately 11 percent of revenues, are generated from sales of timber on company timberlands, which total approximately 3,862 net acres in various growth stages. Surface revenues, representing approximately 39 percent of revenues, derive from recurring lease arrangements for farming, recreational, and commercial uses, as well as non-recurring income from pipeline rights-of-way and temporary worksite rentals.

Approximately 90 percent of CKX's net acres are held as undivided interests co-owned with other parties, with the majority consisting of a one-sixth undivided interest in approximately 33,200 acres in Southern Louisiana. The remaining 715 acres are wholly owned by the company. CKX employs two part-time employees serving as corporate officers and relies on third-party managers for day-to-day property management and specialized consultants for forestry, real estate, and agricultural expertise.

In August 2023, the company's board initiated a formal process to evaluate strategic alternatives to enhance shareholder value. In November 2025, CKX completed the sale of approximately 6,548 wholly-owned acres, representing a significant step in this strategic review process. The company continues to actively search for additional real estate acquisition opportunities while evaluating potential divestiture of current holdings.