MILFAM LLC ANNOUNCES ELECTION OF NOMINEES TO BOARD OF DIRECTORS OF SCULLY ROYALTY LTD.

Core Viewpoint - MILFAM LLC successfully elected all its nominees to the Board of Directors of Scully Royalty Ltd. during the Annual General Meeting held on December 27, 2025, while the Company's nominees were not re-elected [1][3]. Group 1: Election Details - All nominees from MILFAM, including Jerrod Freund, Mark Holliday, Alan Howe, Nimesh Patel, and Skyler Wichers, received a majority of the votes cast at the Annual Meeting [1]. - The Annual Meeting had a quorum present, with members holding at least 20% of the common shares participating either in person or by proxy [3]. Group 2: Meeting Circumstances - MILFAM announced its intention to proceed with the election of directors despite the Company's attempt to postpone the meeting, which was deemed invalid [2]. - Upon arrival, MILFAM representatives found the designated meeting room locked and no Company representatives present, leading to the meeting being held outside the allocated room [2]. Group 3: Future Direction - The newly elected directors are expected to implement a transition plan focused on fair representation of all shareholders and enhancing operational and capital efficiency [4].