Ms. Kelly Blankstein reports

A&W REVENUE ROYALTIES INCOME FUND ANNOUNCES DECEMBER 2023 CASH DISTRIBUTION

A&W Revenue Royalties Income Fund has declared a cash distribution of 16 cents per trust unit for the period Nov. 1 to Nov. 30, 2023. The distribution will be paid to unitholders of record at the close of business on Dec. 15, 2023, and will be payable on Dec. 29, 2023. This distribution will be taxed as a non-eligible dividend, as the source of funds to pay the distribution is a dividend from A&W Trade Marks Inc.

A&W Food Services of Canada Inc. will also receive a similar dividend from Trade Marks on its investment in Trade Marks.