Mr. Jeff Good reports

SIR ROYALTY INCOME FUND REPORTS VOTING RESULTS FROM ANNUAL GENERAL MEETING

All of the persons listed herein were elected as trustees of SIR Royalty Income Fund at its annual meeting of unitholders held on May 22, 2024. The percentage of votes cast for each nominee, inclusive of votes cast by SIR Corp. as the holder of the Class A GP units, is as shown in the attached table.

In addition, the fund reports that the appointment of PricewaterhouseCoopers LLP as the fund's auditor for the 2024 fiscal year was passed by a majority of the votes represented at the meeting.

About SIR Royalty Income Fund

The fund is a trust governed by the laws of the Province of Ontario that receives distribution income from its investment in the SIR Royalty LP and interest income from the SIR loan. The fund intends to pay distributions to unitholders on a monthly basis.

About SIR Corp.

SIR is a privately held Canadian corporation that owns a portfolio of 55 restaurants in Canada. SIR's concept brands include Jack Astor's Bar and Grill, with 37 locations; and Scaddabush Italian Kitchen & Bar with 12 locations. SIR also operates one-of-a-kind signature brands including Reds Square One, Edna + Vita and The Loose Moose. All trademarks related to the concept and signature brands noted herein are used by SIR under a licence and royalty agreement with SIR Royalty. SIR also owns three additional signature restaurants, including two Duke's Refresher & Bar locations in downtown Toronto, and Abbey's Bakehouse, a seasonal restaurant in Muskoka, Ont., which are currently not in consideration to be part of the royalty pool.