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

Toronto Stock Exchange: BPF.UN

VANCOUVER, BC, July 3, 2024 /CNW/ - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) is pleased to announce the voting results from its annual general and special meeting of unitholders held on Wednesday, July 3, 2024 in Richmond, British Columbia.

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 5,894,386 units and other securities with voting entitlements for the Fund (together, the "Voting Units") were represented at the meeting, being 24.02% of the Fund's issued and outstanding Voting Units. Detailed results of the ballot votes are provided below:

Proposal	Votes For	Votes For %	Votes Withheld	Votes Withheld %
Election of Marc Guay as Trustee	5,726,780	97.78 %	129,804	2.22 %
Election of Paulina Hiebert as Trustee	5,613,125	95.84 %	243,459	4.16 %
Election of Shelley Williams as Trustee	5,731,107	97.86 %	125,477	2.14 %

Proposal	Votes For	Votes For %	Votes Against	Votes Against %
Approve Fourth Amended and Restated Declaration of Trust	4,972,210	84.90 %	884,374	15.10 %

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 US

The Fund is a limited purpose open ended trust with an excellent track record for investors since its IPO in 2002. Including the May 2024 distribution which was paid on June 28, 2024, the Fund will have paid out 257 monthly distributions and two special distributions totaling $434.8 million or $26.58 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. ("BPI") is Canada's number one casual dining brand. The Boston Pizza brand has served communities from coast-to-coast for 60 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 trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc. BP 60th Anniversary design is a trademark of Boston Pizza Royalties Limited Partnership, used under license.}

SOURCE Boston Pizza Royalties Income Fund

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