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Pizza Pizza Royalty Corp. Announces October Dividend Tuesday, November 6th, 2018

Pizza Pizza Royalty Corp Announces  October Dividend and Timing of Third Quarter Results

Toronto, Ontario, October 23, 2018 – Pizza Pizza Royalty Corp. (TSX: PZA) today announced its monthly cash dividend of $0.0713 per share for October 2018.

The dividend will be payable to shareholders of record at the close of business on October 31, 2018, and will be paid on November 15, 2018.

For tax purposes, the 2018 dividend will be considered a taxable eligible dividend.

The Company also announced that its financial results for the third quarter ended September 30, 2018 will be issued after markets close on Tuesday, November 6, 2018.

The Company invites analysts and portfolio managers to participate in a conference call with Paul Goddard, Chief Executive Officer and Curt Feltner, Chief Financial Officer. The call will take place on Tuesday, November 6, 2018 at 5:00 p.m. Shareholders and media are invited to listen to the call.

Details of the Conference Call:

Date:                                        Tuesday, November 6, 2018

Time:                                        5:00 p.m. ET
Call-in number:                          647-427-7450 / 888-231-8191

Recording call in number:           416-849-0833 / 855-859-2056                

                                                Available until midnight, November 20, 2018

                                                Passcode: 7769784

For further information:

Christine D’Sylva, Vice President of Finance and Investor Relations, Pizza Pizza Royalty Corp.

(416) 967-1010 x393 cdsylva@pizzapizza.ca

www.pizzapizza.ca and www.pizza73.com or www.sedar.com.