EXHIBIT 12.1
CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
I, Michael J. Smith, certify that:
| 1. | I have reviewed this Amendment No. 1 to Annual Report on Form 20-F/A of Scully Royalty Ltd.; and |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report. |
Date: May 15, 2020
| By: | /s/ Michael J. Smith | |
| Michael J. Smith | ||
| Title: Chief Executive Officer | ||
