Mr. Michael Harbinson reports

BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING VOTING

Boston Pizza Royalties Income Fund has released the voting results from its annual general meeting of unitholders held on Thursday, July 3, 2025, in Richmond, B.C.

Marc Guay, Paulina Hiebert and Shelley Williams were re-elected to the board of trustees of the fund for the ensuing year. Marc Guay will continue in the role of chair of the fund.

A total of 5,455,891 units and other securities with voting entitlements for the fund were represented at the meeting, being 22.23 per cent of the fund's issued and outstanding voting units. Detailed results of the ballot votes are provided below.

At the meeting, by a vote by show of hands, KPMG LLP was appointed as the auditor of the fund for the ensuing year, and the trustees of the fund were authorized to fix the remuneration of the auditor.

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 May, 2025, distribution, which was paid on June 30, 2025, the fund has paid out 269 monthly distributions and three special distributions totalling $465.5-million or $28.03 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 is the premier casual dining brand in Canada. The first Boston Pizza restaurant opened in Edmonton, Alta., in 1964, and, over 60 years later, Boston Pizza proudly remains a 100-per-cent-Canadian company serving communities from coast to coast to coast. It boasts a vast network of local franchise owners who collectively operate the largest number of dining rooms, sports bars and patios across the nation, complemented by robust takeout and delivery services. Boston Pizza International Inc. has been recognized as a Franchisees' Choice Designation winner and a platinum member of Canada's 50 best managed companies for many years, and has received awards from great place to work in the categories of best workplaces: in Canada -- 100 to 999 employees, in British Columbia, in retail and hospitality, for mental wellness, for women, for giving back, and with most trusted executive teams.