SCULLY ROYALTY FILES ITS 2022 ANNUAL REPORT ON FORM 20-F, PROVIDES CORPORATE UPDATE AND DECLARES CASH DIVIDEND

SHANGHAI, April 26, 2023 /PRNewswire/ -- Scully Royalty Ltd. (the "Company") (NYSE: SRL) is pleased to announce that it has filed its annual report on form 20-F for the year ended December 31, 2022 (the "Annual Report"), with the U.S. Securities and Exchange Commission, which includes updates on the Company's business.  In addition, the Company announces that its board of directors has declared a cash dividend pursuant to its previously announced cash dividend policy. 

The cash dividend of US$0.17 (C$0.23) per common share will be paid in US dollars on May 19, 2023, to shareholders of record on May 9, 2023.  The ex-dividend date for the dividend will be May 8, 2023.  The amount of this dividend was based upon the recent payments received from our iron ore royalty interest, and also considers the operational performance of the mine and the financial performance of the mine's operator. 

The declaration, timing and payment of future dividends will depend on, among other things, royalty payments received, the Company's financial condition and operating results.

We welcome any questions you may have and look forward to discussing our operations, results and plans with stakeholders. Further: 

• stakeholders are encouraged to read the entire Annual Report, which includes its audited financial statements and management's discussion and analysis for the year ended December 31, 2022, for a greater understanding of the Company's business and operations; and
• direct any questions regarding the Company and the information in its Annual Report to the Company's North American toll-free line at 1 [phone] or email [e-mail] to book a conference call with the Company's senior management.

A copy of the Annual Report, including the audited financial statements contained therein, is available under the Company's profile at www.sec.gov and on the Company's website at www.scullyroyalty.com. Shareholders of the Company may, upon request, receive a hard copy of such document free of charge by contacting the Company by email or telephone as set forth above.

Media Contact:
1 [phone]
[e-mail]

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SOURCE Scully Royalty Ltd.

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