MILFAM LLC ANNOUNCES INTENTION TO PROCEED WITH ANNUAL GENERAL MEETING OF SCULLY ROYALTY LTD.

MILFAM LLC, a significant shareholder of Scully Royalty Ltd. (NYSE:SRL), has announced its intention to proceed with the Annual General Meeting of Shareholders as scheduled for December 27, 2025. This decision follows an earlier announcement from the Company's Board of Directors, which had resolved to delay the meeting on December 24, 2025. Notably, MILFAM points out that the Articles of Association do not grant the Board the authority to postpone the meeting, making their proceeding with the event both timely and necessary.

With over 58% of the outstanding shares under its control, MILFAM is poised to influence the election of directors at the meeting. The firm confirms that a quorum will be present, enabling the meeting to conduct necessary business, including the election of new board members. MILFAM emphasizes its willingness to collaborate with the Company to ensure a smooth and orderly meeting, stressing the importance of accessibility and proper minute-taking by a Company representative.

In a clear message to the Board, MILFAM warns that any attempts to hinder the meeting's progression may signify a further failure of duty by the board members. They have called on the Board to honor its fiduciary responsibilities and respect the majority will of the shareholders, advocating against the re-election of the current Board members. This conflict highlights ongoing governance issues within Scully Royalty, raising questions about management's commitment to shareholder interests and the effectiveness of its leadership as the meeting approaches.

The recent announcement by MILFAM LLC regarding the Annual General Meeting (AGM) of Scully Royalty Ltd. (NYSE: SRL) presents significant implications for current and prospective investors. MILFAM, controlling over 58% of Scully's outstanding shares, demonstrates a clear intention to assert its influence by proceeding with the AGM despite the Board's attempt to postpone it. This situation suggests a power struggle within the company's governance, which could create volatility in SRL's stock price as investors react to developments.

From a market perspective, the situation warrants a cautious approach. Shareholders should monitor how the AGM unfolds on December 27, 2025, particularly regarding the election of directors. With MILFAM poised to elect its nominees, this change in leadership could facilitate a shift in corporate strategy or operational focus, which might attract or deter investor interest.

Furthermore, the Board's resistance to MILFAM's intentions could exacerbate tensions, potentially leading to further disputes that may detract from the company's focus on core business operations. For those holding SRL shares, it is prudent to consider the implications of potential leadership changes and their expected impact on financial performance and strategic direction.

Investors seeking opportunities within this context may contemplate either increasing their stakes or divesting based on anticipated shifts in governance and company policy post-AGM. Transparency and effective communication from the Board following the AGM will be essential in regaining investor confidence and clarifying the company’s future trajectory.

In summary, active monitoring of the AGM and subsequent actions by both MILFAM and the Board will be crucial for capitalizing on potential opportunities or mitigating risks associated with Scully Royalty Ltd.’s evolving corporate landscape.