Mr. Michael Harbinson reports

BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES SEPTEMBER 2023 DISTRIBUTION

Boston Pizza Royalties Income Fund today declared a cash distribution to unitholders of 10.7 cents per unit for September, 2023. The distribution will be paid on Oct. 31, 2023, to unitholders of record at the close of business on Oct. 21, 2023. The fund periodically reviews distribution levels based on its policy of stable and sustainable distribution flow to unitholders.

About Boston Pizza Royalties Income Fund

The fund is a limited purpose open-ended trust with an excellent record for investors since its initial public offering in 2002. Including the September, 2023, distribution which is payable on Oct. 31, 2023, the fund will have paid out 249 monthly distributions and two special distributions totalling $415.9-million or $25.70 per unit. The fund earns revenue based on the franchise system sales of the 377 Boston Pizza restaurants in the fund's royalty pool.