Ms. Christine D'Sylva reports

PIZZA PIZZA ROYALTY CORP. ANNOUNCES ELECTION OF DIRECTORS

Pizza Pizza Royalty Corp. has released the results on the election of directors at its annual general meeting held June 9, 2023.

At the meeting, there were shareholders represented in person or by proxy holding 5,129,969 common shares of the company, representing 20.84 per cent of the issued and outstanding shares.

Shareholders voted in favour of all items of business.

The company's proxy circular provided for five nominees for election to the board of directors. All nominees were elected by a majority vote of shareholders.

Details of the proxies are provided in the attached table.

The company's shares are listed on the Toronto Stock Exchange under the symbol PZA.