X0206 3 2023-01-26 0 0001559432 MorningStar Partners, L.P. TXO 0001182691 KING J LUTHER JR 400 WEST 7TH STREET FORT WORTH TX 76102 1 0 1 1 See Remarks Common Units 11656604 D Common Units 37880497 I See footnotes Series 5 Preferred Units 2024-10-15 Common Units 6931053 D Series 5 Preferred Units 2024-10-15 Common Units 26992105 I See footnotes The securities reported includes (i) 17,259,241 common units and 12,863,158 common units underlying series 5 preferred units held by LKCM Investment Partnership, L.P. and (ii) 20,621,256 common units and 14,128,947 common units underlying series 5 preferred units held by PDLP Morningstar, LLC. LKCM Investment Partnership GP, LLC is the general partner of LKCM Investment Partnership, L.P. LKCM Private Discipline Management, L.P. is the sole holder of management shares of LKCM Private Discipline Master Fund, SPC. PDLP Morningstar, LLC is a wholly owned subsidiary of LKCM Private Discipline Master Fund, SPC. Luther King Capital Management Corporation serves as the investment adviser to each of LKCM Investment Partnership, L.P. and LKCM Private Discipline Master Fund, SPC. J. Luther King, Jr. serves as the President of Luther King Capital Management Corporation. Luther King Capital Management Corportion has voting and investment power over the securities beneficially owned by each of LKCM Investment Partnership GP, LLC and LKCM Private Discipline Management L.P. Accordingly, each of J. Luther King and Luther King Capital Management Corporation may be deemed to share beneficial ownership of the common units held by each of LKCM Investment Partnership, L.P. and PDLP Morningstar, LLC, but each disclaims beneficial ownership of such common units except to the extent of their pecuniary interest therein. Immediately prior to the closing of the Issuer's initial public offering, the Issuer's series 5 preferred units will automatically convert into common units of the Issuer. The Reporting Person is a Director of TXO Energy GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner. Exhibit 24 - Power of Attorney. /s/ Brent W. Clum, Attorney-in-fact 2023-01-26