Texas Pacific Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Note 4

3 Months Ended

Mar. 31, 2015

(4)	The Sub-shares and the Certificates of Proprietary Interest are freely interchangeable in the ratio of one Certificate of Proprietary Interest for 3,000 Sub-shares or 3,000 Sub-shares for one Certificate of Proprietary Interest.