BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES THE APPOINTMENT OF A NEW TRUSTEE

VANCOUVER, BC, Nov. 1, 2022 /CNW/ - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) is pleased to announce the appointment of Shelley Williams to the Board of Trustees of the Fund and as a director of each of Boston Pizza Holdings GP Inc. and Boston Pizza GP Inc. effective November 1, 2022.

"On behalf of the Board of Trustees, we are pleased to welcome Shelley Williams as a Trustee of the Boston Pizza Royalties Income Fund", said Marc Guay, Chair of the Board of Trustees. "Ms. Williams's financial and governance expertise and business exposures will augment the skills of our Board as we continue to strive to deliver consistent and sustainable returns to our unitholders."

Ms. Williams is currently a member of the Board of Directors of Concentra Bank o/a Wyth Financial (Chair, Human Resources and Compensation Committee, member of the Governance Committee, and member of the Special Committee overseeing the sale of Concentra Bank to EQ Bank).  She was a member of the Board of Directors and Chair of the Audit Committee, Risk Committee, and Conduct Review Committee of BC Life and Casualty Company (2015-2021); Chair of the Board, and Chair of the Audit and Finance Committee of Douglas College in British Columbia (2010-2017); and Vice Chair and Chair of the Finance, Audit and Risk Committee of the Board of Directors of HFN LNG Development Corporation (2015-2016).  She also was an Independent Commissioner and Board member with the British Columbia Securities Commission from 2008-2013.

Ms. Williams has held various senior finance positions throughout her career, including the position of Vice President, Corporate Treasurer for Finning International Inc. from 2003 – 2007.  Ms. Williams holds a Bachelor of Arts (Economics) from the University of Victoria. She also obtained her Chartered Accountant (now Chartered Professional Accountant) designation in 1995 and her ICD.D designation in 2009.  Ms. Williams joins Marc Guay, Paulina Hiebert and David Merrell as Trustees of the Fund and will hold office until the next annual general meeting of voting unitholders of the Fund.

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 September 2022 distribution which was paid on October 31, 2022, the Fund has paid out 237 monthly distributions and one special distribution totaling $387.2 million or $24.36 per Unit.  The Fund earns revenue based on the franchise system sales of the 383 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 58 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.

SOURCE Boston Pizza Royalties Income Fund

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