Ms. Christine D'Sylva reports

PIZZA PIZZA ROYALTY CORP. ANNOUNCES JULY DIVIDEND and TIMING OF SECOND QUARTER 2023 RESULTS

Pizza Pizza Royalty Corp. has declared a monthly cash dividend of 7.5 cents per share for July, 2023.

The dividend will be payable to shareholders of record at the close of business July 31, 2023, and will be paid on Aug. 15, 2023.

For tax purposes, the 2023 dividend will be considered a taxable eligible dividend.

The company also announced that its financial results for the second quarter ended June 30, 2023, will be issued after markets close on Thursday, Aug. 10, 2023.

The company invites analysts and portfolio managers to participate in a conference call with Pizza Pizza management. The call will take place on Thursday, Aug. 10, 2023, at 5:30 p.m. Shareholders and media are invited to listen to the call.

Details of the conference call

Date:  Thursday, Aug. 10, 2023

Time:  5:30 p.m. ET

Dial-in number:  416-764-8650 or 888-664-6383

Recording dial-in number:  416-764-8677 or 888-390-0541, available until midnight, Aug. 24, 2023

Conference ID:  517525