Scully Royalty Ltd. Adopts Policy to Preserve Shareholder Resources

New York, NY — July 13, 2026 — Leads & Copy — Scully Royalty Ltd. (NYSE: SRL) announced today that its Board of Directors has adopted a comprehensive Policy on Shareholder Reimbursements and Payments, effective immediately. The Policy aims to preserve the Company's resources for the benefit of all shareholders.

The newly adopted Policy broadly prohibits Scully Royalty Ltd. from directly or indirectly reimbursing, paying, advancing, funding, guaranteeing, indemnifying, contributing to, assuming, or otherwise bearing any costs incurred by shareholders in connection with activities undertaken in their capacity as shareholders. This prohibition is comprehensive and extends to payments made through subsidiaries, affiliates, agents, or third parties. It also covers any settlement, cooperation, standstill, or similar agreement with a shareholder. Specifically, this includes agreements where the Company would appoint shareholder-designated directors, reimburse shareholder costs, or grant governance or other concessions.

To prevent any circumvention, the Policy includes anti-circumvention provisions designed to ensure that no indirect transfer of Company resources occurs to fund shareholder activities, regardless of how such payments might be structured.

An exception to this prohibition exists, but it requires full disclosure of the proposed reimbursement and the affirmative approval of holders of not less than 75% of the Company’s outstanding shares of capital stock entitled to vote. This approval must be obtained at a duly convened special or annual general shareholder meeting. Importantly, any outstanding shares of the Company's capital stock owned, controlled, or over which voting power is held or exercised by a Covered Shareholder (as defined within the Policy) will be excluded from this voting calculation.

If such approval is obtained, the Policy mandates that before any payment or reimbursement is made, the Company must properly account for it in accordance with its internal accounting policies, applicable financial reporting standards, and all relevant laws and regulations.

The Policy can only be amended or repealed by the Board at a duly convened meeting. However, at least 60 days prior to any such amendment or repeal taking effect, the Board is required to publicly disclose its decision, the reasons behind it, the process followed in reaching the decision, advisors consulted on the matter, and any other pertinent information.

The full text of the Policy is slated to be made available on the Company’s website and will be filed with the Company’s public disclosure documents.

In a separate announcement, the Company also confirmed that its common shares resumed trading on the NYSE on July 8, 2026, under the symbol "SRL." This update follows a previous news release dated July 7, 2026.

Scully Royalty Ltd. holds a net revenues royalty interest on the Scully Iron Ore Mine located in Newfoundland and Labrador, Canada. Additionally, the Company possesses various merchant banking and industrial interests globally.