BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES FEBRUARY 2023 DISTRIBUTION

Toronto Stock Exchange: BPF.UN

VANCOUVER, BC, March 9, 2023 /CNW/ - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) announced today a cash distribution to unitholders of $0.102 per unit for February 2023.  The distribution will be paid on March 31, 2023 to unitholders of record at the close of business on March 21, 2023. The Fund periodically reviews distribution levels based on its policy of stable and sustainable distribution flow to unitholders.

ABOUT US

The Fund is a limited purpose open ended trust with an excellent track record for investors since its IPO in 2002.  Including the February 2023 distribution which is payable on March 31, 2023, the Fund will have paid out 242 monthly distributions and two special distributions totaling $399.9 million or $24.95 per Unit.  The Fund earns revenue based on the franchise system sales of the 377 Boston Pizza restaurants in the Fund's royalty pool.

Boston Pizza International Inc. ("BPI") is Canada's number one casual dining brand.  The Boston Pizza brand has served communities from coast-to-coast for 59 years since opening its first restaurant in Edmonton, Alberta 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 take-out 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.

The trustees of the Fund have approved the contents of this news release.

® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trademarks and unregistered Canadian trademarks containing the words "Boston", "BP", and/or "Pizza" are trademarks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.

© Boston Pizza International Inc. 2023

SOURCE Boston Pizza Royalties Income Fund

Michael Harbinson, Chief Financial Officer, Tel: [phone], E-mail: [email protected], www.bpincomefund.com