IFabric : AGM 2022 - Information Circular

NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING

and

MANAGEMENT PROXY CIRCULAR

Annual General and Special Meeting of Shareholders to be held via Virtual Meeting only, accessible online at:

https://us02web.zoom.us/j/8719214349?pwd=YVAxRmUxN0Z1clZGbWJSRW1WZDd6

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Meeting ID: 871 921 4349

Passcode: 214234 One tap mobile [phone],,8719214349#,,,,*214234# US (Houston) [phone],,8719214349#,,,,*214234# US (New York)

Dial by your location

[phone] US (Houston)

[phone] US (New York)

[phone] US (San Jose)

[phone] US (Tacoma)

[phone] US (Washington DC)

[phone] US (Chicago)

[phone] Canada

[phone] Canada

[phone] Canada

[phone] Canada

[phone] Canada

[phone] Canada Meeting ID: 871 921 4349 Passcode: 214234

Find your local number:https://us02web.zoom.us/u/kbhsMEkqh2

MEETING TO BE HELD AT 10:00 A.M. (TORONTO TIME) ON MARCH 31, 2022

February 18, 2022

TABLE OF CONTENTS
NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS	.......................1
MANAGEMENT PROXY CIRCULAR ..................................................................................	1
VOTING AND PROXY RELATED INFORMATION ................................................................	1
Solicitation of Proxies ..........................................................................................	1
Voting of Proxies .................................................................................................	1
Registered Shareholding Voting ............................................................................	2
Voting Options ............................................................................................	2
Voting in Virtually at the Meeting ..................................................................	2
Voting by Proxy ..........................................................................................	3
Revoking Your Proxy....................................................................................	3
Beneficial Shareholder Voting ...............................................................................	3
INFORMATION CONCERNING THE CORPORATION ..........................................................	5
General..............................................................................................................	5
Voting Shares and Principal Holders.......................................................................	5
Quorum for Meeting ............................................................................................	6
Approval Requirements ........................................................................................	6
CORPORATE GOVERNANCE..........................................................................................	6
Board of Directors ...............................................................................................	6
Mandate of the Board ..........................................................................................	8
Position Descriptions............................................................................................	8
Orientation and Continuing Education ....................................................................	8
Ethical Business Conduct......................................................................................	9
Nomination of Directors .......................................................................................	9
Compensation.....................................................................................................	9
Compensation Consultants or Advisors.........................................................	10
Other Board Committees ....................................................................................	10
Audit Committee .......................................................................................	10
Assessments.....................................................................................................	12
Director Term Limits ..........................................................................................	12
Policies Regarding the Representation of Women on the Board ...............................	12
EXECUTIVE COMPENSATION......................................................................................	13
Compensation Discussion and Analysis ................................................................	13
Compensation Objectives and Principles .......................................................	13
Compensation Governance .........................................................................	14
Share-Based and Option-Based Awards........................................................	14
Use of Financial Instruments.......................................................................	14

Performance Graph ...................................................................................	15
Summary Compensation Table....................................................................	16
Incentive Plan Awards........................................................................................	17
Outstanding share-based awards and option-based awards ............................	17
Incentive Plan Awards - Value Vested or Earned During the Year ............................	18
Termination and Change of Control Benefits .........................................................	18
Director Compensation ......................................................................................	18
Director Compensation Table ......................................................................	19
Securities Authorized for Issuance Under Equity Compensation Plans.......................	19
Stock Option Plan..............................................................................................	19
INDEBTEDNESS OF OFFICERS AND DIRECTORS...........................................................	23
INTEREST OF CERTAIN PERSONS IN MATTERS TO BE ACTED UPON................................	23
INTEREST OF INFORMED PERSONS IN MATERIAL TRANSACTIONS .................................	23
PRESENTATION OF FINANCIAL STATEMENTS ...............................................................	23
INFORMATION ON MATTERS TO BE ACTED UPON AT THE MEETING ................................	24
Election of Directors .................................................................................................	24
Majority Voting Policy ........................................................................................	24
Nominated Director Information ..........................................................................	25
Corporate Cease Trade Orders ....................................................................	26
Bankruptcies ............................................................................................	26
Personal Bankruptcies................................................................................	26
Penalties and Sanctions .............................................................................	26
APPOINTMENT OF AUDITOR ......................................................................................	27
APPROVAL OF UNALLOCATED STOCK OPTIONS ............................................................	27
OTHER BUSINESS ....................................................................................................	28
ADDITIONAL INFORMATION ......................................................................................	28
DIRECTORS' APPROVAL ............................................................................................	28

IFABRIC CORP.

NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

TO BE HELD MARCH 31, 2022

The board of directors of iFABRIC CORP. ("iFabric" or the "Corporation") invites you to attend the annual general and special meeting of the shareholders of the Corporation (the "Meeting") to be held via virtual meeting only on March 31, 2022, at 10:00 a.m. (Toronto time), for the following purposes:

1. to receive the consolidated financial statements of the Corporation for the year ended September 30, 2021, and the auditor's report thereon;
2. to fix the number of directors to be elected at the Meeting at six;
3. to elect each of those persons nominated as directors of the Corporation to serve until the next annual meeting of the Corporation or until their successors are duly elected or appointed;
4. to appoint the auditor of the Corporation and authorize the directors to fix their remuneration;
5. to adopt a resolution approving, for a further period of three years, all unallocated stock options issuable pursuant to the Amended and Restated 2015 Stock Option Plan of the Corporation; and
6. to transact such other business as may properly come before the Meeting or any adjournment of the Meeting.

The meeting can be accessed online at:

https://us02web.zoom.us/j/8719214349?pwd=YVAxRmUxN0Z1clZGbWJSRW1WZDd6

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or by phone:

One tap mobile [phone],,8719214349#,,,,*214234# US (Houston) [phone],,8719214349#,,,,*214234# US (New York) Dial by your location

[phone] US (Houston)

[phone] US (New York)

[phone] US (San Jose)

[phone] US (Tacoma)

[phone] US (Washington DC)

[phone] US (Chicago)

[phone] Canada

[phone] Canada

[phone] Canada

[phone] Canada

[phone] Canada

[phone] Canada

Meeting ID: 871 921 4349 Passcode: 214234

Find your local number:https://us02web.zoom.us/u/kbhsMEkqh2

All shareholders are invited to attend the Meeting. Only shareholders of record at the close of business on February 18, 2022, are entitled to vote at the Meeting.

As part of our priority to protect the health and safety of the public and our team members in light of the COVID-19 situation, we will hold a virtual Annual General and Special Shareholder meeting only accessible online. As a shareholder, you have the right to vote your shares on all items that come before the Meeting. Your vote is important and we facilitate voting by enabling you to vote by proxy prior to the Meeting. We encourage you to do so and have arranged for voting on the Internet, by phone, by fax or by mail. If you are a registered shareholder you can also vote by attending the virtual meeting.

Please complete, date and sign the enclosed form of proxy and return it, in the envelope provided to Computershare Trust Company of Canada, through its Proxy Department at, Proxy Department at 100 University Avenue, 8th Floor, Toronto, Ontario, M5J 2Y1, or by fax to 1- 866-249-7775, so that it is received no later than 10:00 a.m. (Toronto time) on March 29, 2022.

DATED at Markham, Ontario, February 18, 2022.

BY ORDER OF THE BOARD OF DIRECTORS

(signed) "Hylton Karon"

President, Chief Executive Officer and Director