Pizza Pizza Royalty Corp. — Proxy Solicitation & Information Statement 2026

May 20, 2026

PIZZA PIZZA ROYALTY CORP.
NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN to holders of common shares ("Shares") of PIZZA PIZZA ROYALTY CORP. (the "Company") that the annual general meeting of shareholders (the "Meeting") will be held on Tuesday, June 9, 2026 at 10:00 am (Eastern Time), in a virtual meeting format by way of a live audio webcast at https://virtual-meetings.tsxtrust.com/1930 (password: pizza2026). Shareholders will have the opportunity to attend, ask questions and vote at the meeting in real time through a web-based platform. The meeting is being held for the following purposes:

1. To receive the audited financial statements of the Company for the year ended December 31, 2025 and the report of the auditors thereon;
2. To appoint auditors for the Company for the ensuing year and to authorize the directors of the Company to fix the remuneration of the auditors;
3. To elect directors of the Company to hold office until the next annual general meeting of shareholders of the Company; and
4. To transact such other business as may properly come before the meeting or any adjournment or postponement thereof.

Accompanying this Notice of Meeting are: (i) a Management Information Circular; (ii) a form of proxy (or voting instructions form) and notes thereto; and (iii) a reply card for use by holders of Shares ("Shareholders") who wish to receive the annual and/or interim financial statements of the Company.

If you are a Registered Shareholder and are unable to join the Meeting, please date and execute the accompanying form of proxy and deposit it with TSX Trust Company, Attention: Proxy Department, P.O. Box 721, Agincourt, Ontario, M1S 0A1 before 5:00 p.m. (Eastern Time) on June 5, 2026 or, in the event the Meeting is adjourned or postponed, not less than 48 hours, excluding Saturdays, Sundays and holidays, before the adjourned or postponed meeting.

If you are a Non-Registered Shareholder and receive these materials through your broker or through another intermediary ("Intermediary"), please complete and return the materials in accordance with the instructions provided to you by your broker or by the other Intermediary.

DATED at Toronto, Ontario, this 1st day of May, 2026

BY ORDER OF THE BOARD OF DIRECTORS

Neil Lester (Signed)
Chair of the Board of Directors