Scully Royalty Ltd.

Scully Royalty Ltd. announced a change in its independent registered public accounting firm. AOGB CPA Limited resigned effective March 11, 2026. The company's board of directors subsequently approved the engagement of EliteCPA P.C. as the new auditor, effective July 14, 2026, for the fiscal year ended December 31, 2025.

Scully Royalty Ltd. announced its Board of Directors adopted a comprehensive Policy on Shareholder Reimbursements and Payments, effective July 11, 2026. This policy broadly prohibits the company from directly or indirectly reimbursing costs incurred by shareholders for activities undertaken in their capacity as shareholders. Any exception to this prohibition requires the affirmative approval of at least 75% of the company's outstanding shares, excluding those held by the covered shareholder, following full disclosure. The company stated the policy ensures resources are preserved for the benefit of all shareholders.

Scully Royalty Ltd. announced that the Grand Court of the Cayman Islands ruled against MILFAM Group, confirming the company's Board of Directors and management remain unchanged. The court declared MILFAM's purported resolutions invalid and legally ineffective, noting MILFAM failed to disclose material relationships of its board nominees. As a result of MILFAM's actions, the company's 2025 Annual Report on Form 20-F was delayed, leading to a NYSE trading suspension and the resignation of its auditor. Scully Royalty is now working to file the Form 20-F and cure the NYSE delinquency.