Mr. Sean Morrison reports

DIVERSIFIED ROYALTY CORP. ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING

At Diversified Royalty Corp.'s annual general meeting of shareholders held on June 19, 2025, all directors nominated as listed in Diversified Royalty's information circular dated May 8, 2025, were elected for the ensuing year. As a ballot was not required, the number of votes disclosed in the attached table reflects only the proxies received by management of Diversified Royalty in advance of the meeting.

Diversified Royalty has also filed a report of voting results of all resolutions voted on at the meeting on SEDAR+.

About Diversified Royalty Corp.

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

Diversified currently owns the Mr. Lube + Tires, Air Miles, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions and BarBurrito trademarks. Mr. Lube + Tires 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 steak house restaurants primarily in Western Canadian communities. Nurse Next Door is a home care provider with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada's leading franchisee supplemental education services. Stratus Building Solutions is a leading commercial cleaning service franchise company, providing comprehensive janitorial, building cleaning and office cleaning services primarily in the United States. BarBurrito is the largest quick-service Mexican restaurant food chain in Canada.

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