Management Information Circular

2021 Management Information Circular For the Annual General Meeting of Shareholders to be held on June 11, 2021 Table of Contents NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS 4 INTRODUCTION 7 PARTICULARS OF MATTERS TO BE ACTED UPON 9 Election of Directors ________________________________________________________________________ 9 Majority Voting Policy ........................................................................................................................... 10 Advance Notice Policy.......................................................................................................................... 10 Director Profiles ................................................................................................................................... 11 Cease Trade Orders, Bankruptcies, Penalties or Sanctions ................................................................. 15 Interlocking Directorships/Committee Appointments ............................................................................. 17 Meeting Attendance ............................................................................................................................. 17 Appointment of Auditors ___________________________________________________________________ 18 Other Matters_____________________________________________________________________________ 18 GENERAL PROXY INFORMATION 19 Appointment of Proxyholder ________________________________________________________________ 19 Voting by Proxy___________________________________________________________________________ 19 Completion and Return of Proxy _____________________________________________________________ 19 Non-Registered Holders ____________________________________________________________________ 20 Revocability of Proxy ______________________________________________________________________ 21 Voting at the Virtual Meeting ________________________________________________________________ 22 Appointment of a Third Party as Proxy ________________________________________________________ 23 Notice and Access ________________________________________________________________________ 23 Voting Securities and Principal Holders Thereof ________________________________________________ 24 EXECUTIVE COMPENSATION 25 Named Executive Officers __________________________________________________________________ 25 Compensation Discussion and Analysis ______________________________________________________ 25 Compensation Program Overview ........................................................................................................ 25 Role of the Compensation Committee .................................................................................................. 28 Executive Compensation Elements ...................................................................................................... 30 Executive Compensation Details_____________________________________________________________ 41 Summary Compensation Table ............................................................................................................ 41 Incentive Plan Awards .......................................................................................................................... 42 Pension Plan Benefits .......................................................................................................................... 45 Termination of Employment, Change in Responsibilities and Employment Contracts ........................... 45 1 Director Compensation ____________________________________________________________________ 48 Incentive Plan Awards .......................................................................................................................... 51 SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS 53 Stock Option Plan _________________________________________________________________________ 54 Overview .............................................................................................................................................. 54 Purpose and Stock Option Plan Limits ................................................................................................. 54 Restricted Share Plan ______________________________________________________________________ 58 Overview .............................................................................................................................................. 58 Purpose and Restricted Share Plan Limits ........................................................................................... 58 OTHER INFORMATION 62 Indebtedness of Directors, Executive Officers and Others ________________________________________ 62 Interest of Informed Persons in Material Transactions ___________________________________________ 62 Interest of Certain Persons or Companies in Matters to be Acted Upon _____________________________ 62 Management Contracts ____________________________________________________________________ 62 CORPORATE GOVERNANCE 63 Corporate Governance Overview ____________________________________________________________ 63 Board of Directors ________________________________________________________________________ 64 Role of the Board ................................................................................................................................. 64 Independence of the Board .................................................................................................................. 65 Position Descriptions ............................................................................................................................ 66 Participation of Directors in Other Reporting Issuers ............................................................................ 67 Separation of Chairman and CEO Roles and Related Position Descriptions ........................................ 67 Orientation and Continuing Education .................................................................................................. 68 Expectations of Management ............................................................................................................... 68 Nomination of Directors ........................................................................................................................ 68 Compensation of Directors and Officers ............................................................................................... 70 Assessments ........................................................................................................................................ 71 Succession Planning for President and Chief Executive Officer............................................................ 73 Ethical Business Conduct __________________________________________________________________ 73 Social and Environmental Commitment _______________________________________________________ 74 Risk Management _________________________________________________________________________ 75 Directors’ and Officers’ Indemnification _______________________________________________________ 75 Key Policy Descriptions ____________________________________________________________________ 76 Whistleblower Policy ............................................................................................................................ 76 Stock Ownership Guidelines Policy ...................................................................................................... 76 Clawback Policy ................................................................................................................................... 78 Anti-Hedging Policy .............................................................................................................................. 78 Communications and Corporate Disclosure Policy ............................................................................... 78 Policy on Stock Trading and Use of Material Information ...................................................................... 79 Bribery and Fraud Prevention Program ................................................................................................ 79 2 Health and Safety Policy ...................................................................................................................... 79 Workplace Bullying and Harassment Policy Statement ......................................................................... 79 Diversity Policy and Representation of Women on the Board ............................................................... 80 Retirement and Tenure Policies ........................................................................................................... 81 COMMITTEE INFORMATION 82 Audit Committee __________________________________________________________________________ 82 The Audit Committee's Role and Charter ............................................................................................. 82 Composition of the Audit Committee .................................................................................................... 82 Relevant Education and Experience ..................................................................................................... 83 Audit Committee Oversight .................................................................................................................. 83 Reliance on Certain Exemptions .........................................................................................................

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