Boston Pizza Royalties Income Fund (BPF.UN) investor relations material

Executive summary

• Franchise sales in the royalty pool reached CAD 238.4 million ($238.4 million) in Q1 2026, up 3.1% year-over-year, driven by increased guest traffic and successful promotional initiatives.

• Same restaurant sales grew 3.1% in Q1 2026, supported by momentum in take-home delivery, marketing campaigns, and guest loyalty.

• No new restaurants opened in Q1; two locations closed in Western Canada.

• Net and comprehensive income was CAD 2.2 million, compared to CAD 6.3 million in Q1 2025, while another report notes net income rose to $12.2 million from $6.3 million, mainly due to fair value gains and higher royalty and distribution income.

• Strong guest engagement from national promotions, including Pasta Tuesday and a Valentine's Day charity campaign raising CAD 650,000.

Financial highlights

• Royalty income was CAD 9.5 million in Q1 2026, up from CAD 9.2 million in Q1 2025.

• Distribution income rose to CAD 3.1 million from CAD 3 million year-over-year.

• Cash flows from operating activities increased to CAD 9.6 million ($9.6 million), up 3.5% year-over-year.

• Distributable Cash was CAD 7.5 million, up 2.9% from the prior year.

• Basic and diluted EPS were $0.57, up from $0.30 in Q1 2025.

Outlook and guidance

• Q2 2026 features new playoff and summer promotions, including partnerships with Live Nation and campaigns tied to major sports events.

• Management expects continued positive sales momentum in 2026, supported by a resilient supply chain and proactive strategies.

• Focus remains on guest experience, franchisee support, and adapting to evolving trade and geopolitical risks.

• Trustees will monitor cash balances and distribution levels to maintain stable returns.

• Monitoring potential impacts from global supply chain disruptions and consumer spending trends.