IKAV General Partner S.a r.l. 4

What Happened
IKAV General Partner S.a r.l., reported as a 10% owner, recorded a disposition of 1,422,476 common units of MACH Natural Resources LP (MNR) on May 15, 2026. The units were reported at $14.06 each for a total value of $20,000,013. The Form 4 uses transaction code J ("other acquisition or disposition"); a footnote explains these units were retired and cancelled under a settlement agreement and amendment to a membership interest purchase agreement (not an open-market sale).

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (appears timely).
• Price: $14.06 per unit; Total reported value: $20,000,013.
• Shares involved: 1,422,476 common units retired/cancelled.
• Shares owned after transaction: Not specified in the filing.
• Ownership chain (footnotes): the units were held of record by VEPU Inc., which is owned/controlled through a chain of entities ending with IKAV General Partner S.a r.l. and ultimately Constantin von Wasserschleben; the reporting parties disclaim beneficial ownership except to the extent of pecuniary interest.
• Nature of transaction: unit retirement/cancellation under a settlement and amended purchase agreement (per footnote), not described as a market sale.

Context
This disclosure relates to an institutional/affiliate transaction — a contractual retirement/cancellation of units as part of a purchase/settlement arrangement — rather than an executive selling shares on the open market. Such retirements adjust the issuer’s outstanding units per the terms of the membership interest purchase agreement and do not necessarily indicate trading intent by an individual insider.