Mr. Sean Morrison reports

DIVERSIFIED ROYALTY CORP. ANNOUNCES ADJOURNMENT OF 2022 ANNUAL GENERAL MEETING

The requisite quorum was not present to conduct any business at Diversified Royalty Corp.'s 2022 annual general meeting scheduled to be held on June 28, 2022. In accordance with the articles of the corporation, the meeting has been adjourned until, and will be held at, 9 a.m. (Vancouver time) on Thursday, July 7, 2022, at the offices of Farris LLP, 25th floor, 700 West Georgia St., Vancouver, B.C. Under the articles of the corporation, those shareholders who attend the meeting on July 7, 2022, in person or by proxy, will constitute quorum and the meeting will proceed at that time.

The record date for shareholders of the corporation entitled to vote at the adjourned meeting remains the close of business on May 19, 2022. Shareholders will have until 9 a.m. (Vancouver time) on Tuesday, July 5, 2022, to submit their proxies. Shareholders who have not yet voted are encouraged to vote. Any shareholders who previously submitted proxies do not need to take any further action as those proxies remain valid for use at the meeting on July 7, 2022.

About Diversified Royalty Corp.

Diversified Royalty is a multiroyalty corporation, engaged in the business of acquiring top-line royalties from well-managed multilocation businesses and franchisors in North America. Diversified Royalty's objective is to acquire predictable, growing royalty streams from a diverse group of multilocation businesses and franchisors.

Diversified Royalty currently owns the Mr. Lube, Air Miles, Sutton, Mr. Mikes, Nurse Next Door and Oxford Learning Centres trademarks. Mr. Lube is the leading quick-lube service business in Canada, with locations across Canada. Air Miles is Canada's largest coalition loyalty program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes operates casual steakhouse restaurants primarily in Western Canadian communities. Nurse Next Door is one of North America's fastest-growing home care providers, with locations across Canada and the United States, as well as in Australia. Oxford Learning Centres is one of Canada's leading franchised supplemental education services in Canada and the U.S.

Diversified Royalty intends to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. Diversified Royalty intends to pay a monthly dividend to shareholders and increase the dividend as cash-flow-per-share increases allow.

We seek Safe Harbor.