Mr. Michael Harbinson reports

BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES MARCH 2024 DISTRIBUTION

Boston Pizza Royalties Income Fund has declared a cash distribution to unitholders of 11.3 cents per unit for March, 2024. The distribution will be paid on April 30, 2024, to unitholders of record at the close of business on April 21, 2024. 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 March, 2024, distribution, which is payable on April 30, 2024, the fund will have paid out 255 monthly distributions and two special distributions totalling $430.0-million or $26.36 per unit. The fund earns revenue based on the franchise system sales of the 372 Boston Pizza restaurants in the fund's royalty pool.

Boston Pizza International Inc. is Canada's No. 1 casual dining brand. The Boston Pizza brand has served communities from coast to coast for 60 years since opening its first restaurant in Edmonton, Alta., in 1964. Today, Boston Pizza proudly remains a Canadian company with its hundreds of local franchise owners, operating more dining rooms, sports bars and patios than any other single brand in the country, along with takeout and delivery. BPI has been recognized both as a Franchisees' Choice Designation winner and a platinum member of Canada's 50 best managed companies for many years.