ISIGN Media : Management Discussion & Analysis – January 31, 2021

iSIGN Media Solutions Inc.

Management's Discussion & Analysis For the Nine Months Ended January 31, 2021

ATTRACT. TRANSACT. MEASURE.

ISIGN MEDIA SOLUTIONS INC.

Management's Discussion & Analysis

For the Nine Months Ended January 31, 2021

This Management Discussion and Analysis ("MD&A") provides relevant information on the operations and financial condition of iSIGN Media Solutions Inc. (the "Company" or "iSIGN") for the nine months ended January 31, 2021. This MD&A should be read in conjunction with the audited consolidated financial statements for the years ended April 30, 2020 and 2019. This discussion contains forward-looking information that is qualified by reference to and should be read in conjunction with the Caution Regarding Forward Looking Statements below.

This MD&A provides information that the management of iSIGN believes is important to assess and understand the results of operations and financial condition of the Company. Our objective is to present readers with a view of iSIGN from management's perspective by interpreting the material trends and activities that affect the operating results, liquidity and financial position of iSIGN. All monetary amounts unless otherwise specified are expressed in Canadian dollars.

Additional information relating to iSIGN is available on SEDAR, at www.sedar.com. The common shares of the Company are listed for trading on the TSX Venture Exchange under the trading symbol ISD-V. In addition, iSIGN is listed on the OTC under the trading symbol ISDSF. For more information on the Company, please visit our website at www.isignmedia.com.

This MD&A is current as of March 31 2021.

iSIGN's audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS").

Caution Regarding Forward-Looking Statements

Readers are cautioned that actual results may differ materially from the results projected in any "forward-looking" statements included in the foregoing report, which involve a number of risks or uncertainties. This MD&A contains "forward-looking statements" and "forward-looking information" within the meaning of the applicable Canadian securities legislation. Forward-looking statements are not historical facts and include statements regarding the Company's planned development activities, anticipated future profitability, losses, revenues, expected future expenditures, the Company's intention to raise new financing, sufficiency of working capital for continued operations and other statements regarding anticipated future events and Company's anticipated future performance.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "continue", "anticipates" or "does not anticipate", or "believes" or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All forward-looking statements are based on our beliefs and assumptions based on information available at the time the assumption was made. While iSIGN considers its assumptions to be reasonable and appropriate based on the current information available, there is a risk that they may not be accurate. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievement of iSIGN to be materially different from those expressed or implied by such forward- looking statements, including but not limited to risks related to the integration of acquisitions, as well as those factors discussed in the section entitled "Risk Factors" in this MD&A. Before making any investment decisions and for a detailed discussion of the risks, uncertainties and environment associated with our business, fully review the section entitled "Risk Factors" in this MD&A.

Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly,

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ISIGN MEDIA SOLUTIONS INC.

Management's Discussion & Analysis

For the Nine Months Ended January 31, 2021

Caution Regarding Forward-Looking Statements - continued

readers should not place undue reliance on forward-looking statements. iSIGN does not undertake to update any forward-looking statements that are incorporated by reference herein, except as required by law

Background

iSIGN is a Software-as-a-Service ("SaaS") company with technology and hardware that allows for security and safety messaging as well as commercial messaging in proximity. Creators of the Smart suite of products, a patented interactive proximity messaging technology, iSIGN provides the technology and hardware to enable end-users to deliver messages to mobile devices, with real-time reporting and analytics and data gathering and storage capabilities that can be monetized. The Company continues to develop new software, while improving our products with key input from our major clients and partners.

From a technology perspective, iSIGN's SaaS solutions have the capability to measure and record data that had previously been regarded as invisible. i.e., how many people passed that location at what time and how long did they dwell? Data itself has real value and the ability to mine that data is critical to any business.

From a commercial perspective, iSIGN solutions have the ability to generate offers in real time, at the point of decision. It incorporates the context of geolocation, time and when integrated with a loyalty program, incredibly personalized offers which in turn drive greater loyalty.

From a social perspective, there is a need for government agencies and organizations to be able to communicate with large numbers of people to advise them of safety and security concerns. The solution is also able to provide data on the presence of people with a smart phone - a useful feature for first responders who may be attempting to locate people who cannot announce their location or situation.

Data is central to iSIGN's value proposition. Data is the most valuable resource of the 21st century. The ability to "attract, interact and transact" captures the essence of the value that we offer in any situation.

iSIGN's core technology is patent protected, having received from the United States Patent and Trademark Office Patent No US 8,781,887 B2 for the Company's "method and system for out-of-home proximity messaging and for delivering awareness information" on July 15, 2014.

Additionally, our core technology has been accepted for grant by the Malaysian Patent Office, grant number is MY- 173353-A (PI 20084438), with the date of grant being January 20, 2020.

iSIGN's hardware products consists of: (i) the Smart Antenna, a commercially built, all-weather and waterproof unit that utilizes Bluetooth® and Wi-Fi to deliver messages and rich media content within a scalable 100 meter/300 foot radius; and (ii) iSIGN POD wireless devices, a beacon-like unit with the major point of difference being that iSIGN's PODs use a unique and exclusive 'app enabler' that allows for the download of the 'enabler' just once to receive all messages regardless of location. Additionally, iSIGN has its Smart Player, a prototype unit that in addition to the Smart Antenna features includes digital signage player functionality, manages the content on digital signage, allows for wireless connectivity and increases the number of simultaneous connections with mobile devices.

Regardless of the hardware unit used, iSIGN gathers information on the messaging sent, accepted, rejected or ignored, in full privacy and does not collect or store information that is personal and private in nature. As iSIGN's technology can be used for clients' loyalty programs, the Company has the ability to gather and store individuals' personal information should the individual choose to disclose their private information as a condition of joining the loyalty program.

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ISIGN MEDIA SOLUTIONS INC.

Management's Discussion & Analysis

For the Nine Months Ended January 31, 2021

Background - continued

iSIGN completed development of its Security Alert Messaging ("SAM") solution in August 2017. SAM is a unique and exclusive proximity-based security and safety alert system, allowing alerts and messages to be delivered by a variety of methods, including email, text message and direct to a device's notification bar. This sophisticated software solution can be integrated onto any iSIGN Smart Antenna network or stand-alone location. The addition of SAM to an iSIGN Smart Antenna network offers a very high value-added dual function - commercial messaging by the Smart Antenna and security messaging by SAM - commerce and safety in one exclusive package. The system was conceived to offer immediate instruction to the public in the event of any type of natural or man-made disaster to mitigate confusion and avoid injury and potential loss of life. This is achieved by utilizing virtually all methods of messaging to mobile devices to ensure timely individual and mass receipt of security/safety notices.

iSIGN's SAM solution is hyper-location based, meaning the location using our technology has full control over the sending of security alerts to individuals who have registered for the receipt of messaging. SAM provides for messages to be sent in many ways, based on how individuals register themselves for alerts - text messages; via downloaded iSIGN SAM apps for Android and Apple mobile phones; emails; etc. It also allows for integration into existing security systems as well as for advising first responders of issues.

SAM can also be used to deliver 'normal' messaging to its registrants, a feature that is of great interest to end-users who are looking to communicate with its employees to alert them of work-related matters thus increasing work- place efficiencies.

iSIGN's SAM technology has been generally reviewed by various US and Canadian insurance brokers and companies who have acknowledged in writing that the use of SAM would result in insurance cost rebates/premium reductions. This is important in that it helps potential end users in the calculation of a Return on Investment ("ROI") on their investment.

iSIGN has added wireless connectivity as an option for its Smart Antennas by entering into an agreement with Mtrex Network Solutions Inc. ("MTREX"), a leading provider of secure, global wireless connectivity solutions. Adding the modem to our Smart Antenna allows for the use of our hardware in areas where there is no fixed data network or in cases of clients' preference for wireless connectivity, which is important to achieve planned installations of our hardware into vehicles of all types - buses, subways, trucks and emergency vehicles for example. While the MTREX modem can be used as a separate device, iSIGN's intent is to integrate MTREX' modems into the Smart Antenna.

While Commercial messaging requires the use of iSIGN's hardware, SAM is a cloud-based software system that does not require hardware to deliver security alerts and other communications. Alerts and messages are delivered to those individuals who have registered to receive these communications. SAM can be integrated with Smart Antennas to deliver security messaging to those individuals who haven't registered for safety messaging but are in proximity to our hardware units.

On July 31, 2019, iSIGN was announced as one of four companies to be selected by the City of Richmond Hill as one of their Innovator of the Year award recipients for 2019. This is an annual award to Richmond Hill located companies recognizes those firms that are transforming industries and are presented to those companies who are judged to be disruptive innovators that bring state-of-the-art technologies and processes to the world. iSIGN is proud to be recognized for its transformative technologies.

On November 7, 2019, iSIGN announced that they had become an approved vendor to the government of Ontario. This acceptance is the first step in being considered for involvement in any Ontario government project requiring the Company's specialized technology and hardware for messaging, including safety and security.

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ISIGN MEDIA SOLUTIONS INC.

Management's Discussion & Analysis

For the Nine Months Ended January 31, 2021

Background - continued

iSIGN's goal is to become the leading interactive proximity security and mobile messaging solution worldwide. Visit iSIGN's website at www.isignmedia.com to view various videos on the Company and its technology.

Outlook

For economic reasons, the Company utilizes resellers as their sales force to promote the Company's technology for both commercial proximity messaging and for security and safety messaging to mobile devices. iSIGN and its resellers are confident that the Company's proven ability to deliver messaging to mobile devices will result in contracts with end-clients for both security and commercial purposes.

iSIGN's technology was introduced to Hi-Tek Media ("Hi-Tek"), a Nevada based marketing/advertising company, in the late summer of 2018. Since that time, Hi-Tek has purchased, tested and installed iSIGN's Smart Antennas and PODS, in both brick-and-mortar locations and on emergency vehicles operating in Las Vegas and surrounding areas.

Hi-Tek's stated immediate intention is to provide the mobile Smart Antenna solution along with typical stationary installations in hotels, casinos and other municipal structures for both commercial and security alert messaging throughout Las Vegas. Our reseller and its partners recognize that these installations fit within the city's plans to become a digital smart and safe city.

In mid-March of 2019 once they satisfied themselves that messaging could be delivered and received from a mobile installation, Hi-Tek announced their intention to launch a mobile and fixed location digital network they branded under the of name Omni Veil Digital Platform ("Omni Veil Network"), powered purely by iSIGN technology and hardware. A reseller agreement was subsequently signed effective April 1, 2019 and a purchase order for 1,000 Smart Antenna and for 1,000 SAM licenses was issued.

The precursor of the launch of the Omni Veil Network, was the branding of iSIGN's app-enabler under the name of Omni Veil and its acceptance into both Google and Apple app stores. The Omni Veil app became available in the Google store May 1, 2019 and in Apple's App Store on July 12, 2019 for download. With this step completed, Hi-Tek has expanded its promotion of the Omni Veil Network with its various nationwide and regional advertisers including, but not limited to, insurance companies and beverage firms. Additionally, Hi-Tek is promoting its network to various companies and organizations to grow and expand their network locations and revenues.

Hi-Tek launched its Omni Veil Network in Nevada, with its next stage expansion to include Texas, Illinois, Florida and Massachusetts with later expansion into additional states. Their target markets include major nationally known brands, professional sports teams, medical offices, hotels and casinos, government agencies, tourist areas and major retailers.

During October 2019, Hi-Tek incorporated Omni Veil Inc. (www.theomniveil.com) as a separate entity to handle the running of the Omni Veil Network. In late October 2019 iSIGN shipped the first 100 Smart Antennas, POD units and modems to Hi-Tek, with installations into emergency vehicles and brick and mortar locations commencing in November.

The onset of the COVID-19 pandemic and resulting restrictions that were enacted throughout North America in the later part of March 2020 has impacted Hi-Tek's ability to meet and present our technologies to potential advertisers and end users and undertake required proof of concept programs, directly impacting on their ability to draw down shipment of units from their 1,000 Smart Antenna purchase order.

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