 SANDRIDGE PERMIAN TRUST NYSE: PER announced today that the quarterly distribution for the three-month period ended March 31, 2020 which primarily relates to production attributable to the Trusts interests from December 1, 2019 to February 29, 2020 of approximately 3.73 million, or 0.071 per unit, will not be paid in May 2020 because Avalon Energy, LLC Avalon, as the assignor under the Conveyances described below, has informed The Bank of New York Mellon Trust Company, N.A., the trustee of the Trust the Trustee, that Avalon is unable to pay on a timely basis the approximately 4.65 million it owes the Trust, which reflects the quarterly distribution amount together with approximately 0.73 million of Trust expenses and 0.19 million to be withheld by the Trustee for the Trusts previously disclosed cash reserve for future known, anticipated or contingent expenses or liabilities of the Trust. Consequently, the Trustee will not be able to make the quarterly distribution to unitholders. In accordance with the terms of the conveyances granting the Trust its Overriding Royalty Interests as described below the Conveyances, the unpaid amount owed the Trust will accrue interest at the rate of interest per annum publicly announced from time to time by The Bank of New York Mellon Trust Company, N.A. at its prime rate in effect at its principal office in New York City until paid to the Trust. Avalon has informed the Trustee that Avalon intends to make the payment of the distribution to the Trust, with interest in accordance with the Conveyances, as soon as possible. All information in this press release has been provided to the Trustee by Avalon. 