Recent Updates — SRL

Scully Royalty Ltd. announced the appointment of Ho Kwun Cheong, an admitted Solicitor of the High Court of Hong Kong SAR, and Yu Chi Kong, with core experience in vertical integration expansion, private cloud, AI infrastructure, data center operations, and venture leadership across Hong Kong, China, Singapore, and Japan markets. Executive Chairman Michael Smith welcomed the new directors, stating their appointments will support the company's future growth. Scully Royalty Ltd. holds a net revenues royalty interest on the Scully Mine in Newfoundland and Labrador, Canada, and maintains various merchant banking and industrial interests globally.

Scully Royalty Ltd. announced it is commencing legal action against former CEO Samuel Morrow, his holding company Boardwalk Ltd., and Victoria Morrow to recover approximately CDN $2.1 million in wrongfully misappropriated funds. The filing identifies the key individuals involved and the specific monetary amount sought in the litigation. Scully Royalty Ltd. operates in the resource royalty sector, holding a net revenues royalty interest on the Scully Iron Ore Mine in Newfoundland and Labrador, Canada, while also maintaining various merchant banking and industrial interests globally.

Scully Royalty Ltd. announced that Executive Chairman Michael Smith has been appointed interim Chief Executive Officer and Chief Financial Officer, replacing Samuel Morrow, who transitions to a non-executive director role with no management duties. The company will seek candidates for these executive positions while maintaining disciplined financial oversight. Scully Royalty Ltd. holds net revenues royalty interests in the Scully Iron Ore Mine in Newfoundland and Labrador, Canada, and maintains various merchant banking and industrial interests globally.

Scully Royalty Ltd. announced the engagement of EliteCPA P.C. as its new independent registered public accounting firm, effective July 14, 2026. This appointment follows the resignation of AOGB CPA Limited, which occurred on March 11, 2026. The new auditors will serve for the fiscal year ending December 31, 2025. The company intends to provide required disclosures in its upcoming Form 20-F. Scully Royalty Ltd. is a royalty company operating in the natural resources sector.