The Trustees of Mesabi Trust Declares A Distribution, Payable on May 20, 2026

Published: 2026-04-14 17:05:39 ET MSB

Published on 04/14/2026 at 05:05 pm EDT

The Trustees of Mesabi Trust declared a distribution of twenty-four cents ($0.24) per Unit of Beneficial Interest payable on May 20, 2026 to Mesabi Trust Unitholders of record at the close of business on April 30, 2026. This compares to a fifty-six cents ($0.56) per Unit distribution declared for the same period last year. The Trustees?

announcement of a twenty-four cents ($0.24)per Unit distribution, as compared to a fifty-six cents ($0.56) per Unit distribution announced by the Trust at the same time last year, reflects consideration of a number of factors. In particular, the Trustees? current distribution determination reflects that the Trust received total royalty payments of $4,943,488 on January 30, 2026, from Cleveland-Cliffs Inc. which was lower than the total royalty payments of $8,986,464 received by the Trust from Cliffs in January 2025, all of which was previously reported.

The Trustees? distribution decision announced also reflects their determination to maintain an appropriate level of reserves in order to make adequate provision to meet current and future expenses, as well as present or future liabilities (whether fixed or contingent).