Amendment to Schedule 13D for Scully Royalty Ltd.

This filing is an amendment to a Schedule 13D, primarily addressing a court order from the Grand Court of the Cayman Islands. The order, issued on December 19, 2025, in Cause No: FSD 359 of 2025, declared that a Notice of Director Nomination dated November 25, 2025, by MILFAM LLC, was validly delivered in compliance with the Issuer's (Scully Royalty Ltd.) Articles of Association. This amendment supplements previous filings and confirms the validity of the director nomination notice. The filing also details various reporting persons and their respective ownership percentages of Scully Royalty Ltd. common shares. Neil S. Subin, as a reporting person, may be deemed the beneficial owner of shares held by several entities and trusts, though he disclaims beneficial ownership beyond any pecuniary interest.