X0202 SCHEDULE 13G/A 0001618333 XXXXXXXX LIVE 2 Common Stock 1/3 of $.01 par value 06/30/2026 0000276720 Pure Cycle Corporation 746228303 34501 E. QUINCY AVE BLDG 1, SUITE D WATKINS CO 80137 Rule 13d-1(b) Magnolia Capital Fund, LP DE 1795421.00 0.00 1795421.00 0.00 1795421.00 N 7.5 PN The Magnolia Group, LLC NE 1795421.00 0.00 1795421.00 0.00 1795421.00 N 7.5 IA Adam K. Peterson X1 1801421.00 0.00 1801421.00 0.00 1801421.00 N 7.5 IN Pure Cycle Corporation 34501 E. QUINCY AVE, BLDG 1, SUITE D, WATKINS, CO, 80137 This Schedule 13G is being jointly filed by Magnolia Capital Fund, LP ("MCF"), The Magnolia Group, LLC ("TMG"), a registered investment adviser, and Adam K. Peterson (each a "Reporting Person" and, collectively, the "Reporting Persons") with respect to shares of the common stock, 1/3 of $.01 par value of the Issuer (the, "Common Stock"). TMG and Mr. Peterson may each exercise voting and dispositive power over the Common Stock held by MCF and, as a result, may be deemed to be indirect beneficial owners of shares of Common Stock held by MCF. TMG and Mr. Peterson disclaim beneficial ownership of the Common Stock TMG is the general partner of MCF. Mr. Peterson is the managing member of TMG. 1601 Dodge Street, Suite 3300, Omaha, NE 68102 MCF is a Delaware limited partnership. TMG is a Nebraska limited liability company and registered investment adviser. Mr. Peterson is a U.S. citizen. N IA Mr. Peterson may be deemed the beneficial owner of 1,795,421 shares of Common Stock held for the account of MCF. Mr. Peterson also is the owner of 6,000 shares of Common Stock personally. TMG may be deemed the beneficial owner of 1,795,421 shares of Common Stock held for the account of MCF. MCF may be deemed the beneficial owner of 1,795,421 shares of Common Stock that it holds. (i) 1,795,421 (ii) 1,795,421 (iii) 1,801,421 (i) 7.5% (ii) 7.5% (iii) 7.5% (i) 1,795,421 (ii) 1,795,421 (iii) 1,801,421 0 (i) 1,795,421 (ii) 1,795,421 (iii) 1,801,421 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Joint Filing Agreement, dated as of August 14, 2026, by and between Magnolia Capital Fund, LP, The Magnolia Group, LLC, and Adam K. Peterson. Magnolia Capital Fund, LP /s/ Adam K. Peterson 08/14/2026 The Magnolia Group, LLC /s/ Adam K. Peterson 08/14/2026 Adam K. Peterson /s/ Adam K. Peterson 08/14/2026