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IBI Group Inc. Annual Information Form

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IBI Group Inc. Annual Information Form March 26, 2021 IBI Group Inc. Annual Information Form ibigroup.com 1. FORWARD LOOKING STATEMENTS ............................................................................................................... 3 2. CORPORATE STRUCTURE ............................................................................................................................... 4 2.1. The Corporation .............................................................................................................................. 4 2.2. IBI Group ......................................................................................................................................... 4 2.3. Structure of the Corporation .......................................................................................................... 5 3. GENERAL DEVELOPMENT OF THE CORPORATION'S BUSINESS ..................................................................... 7 3.1. New Strategic Plan and Release of Software Products ................................................................... 7 3.2. Changes in Corporate Directors and Officers .................................................................................. 8 3.3. Peters Energy Acquisition ............................................................................................................... 8 3.4. Cole Engineering Acquisition .......................................................................................................... 8 3.5. Aspyr Engineering Acquisition ........................................................................................................ 8 3.6. SWTCH............................................................................................................................................. 9 3.7. GreenOwl Mobile Acquisition ......................................................................................................... 9 3.8. Amending Agreements to Credit Agreement ................................................................................. 9 3.9. Redemption of 7.0% Debentures .................................................................................................... 9 3.10. Convertible Debenture Offering ................................................................................................... 10 3.11. 6.5% Debentures Offering ............................................................................................................. 10 3.12. Redemption of 5.5% Debentures .................................................................................................. 10 4. INDUSTRY OVERVIEW .................................................................................................................................. 11 4.1. Intelligence: Systems Practice ....................................................................................................... 11 4.2. Buildings: Facilities Practice .......................................................................................................... 12 4.3. Infrastructure: Placemaking, Land Engineering and Transportation Practices ............................. 14 4.4. Industry Trends ............................................................................................................................. 15 5. DESCRIPTION OF THE BUSINESS .................................................................................................................. 16 5.1. Overview ....................................................................................................................................... 16 5.2. Corporate Responsibility and Commitment to ESG Principles ...................................................... 17 5.3. Competitive Strengths .................................................................................................................. 17 5.4. Business Strategy and Operating Model ....................................................................................... 22 5.5. Capital Expenditures ..................................................................................................................... 25 5.6. Competition .................................................................................................................................. 25 5.7. Regulation ..................................................................................................................................... 25 5.8. Intellectual Property ..................................................................................................................... 25 5.9. Information Security ..................................................................................................................... 27 5.10. Legal Matters and Insurance ......................................................................................................... 29 5.11. Offices ........................................................................................................................................... 29 - i - 6. DESCRIPTION OF IBI GROUP ........................................................................................................................ 29 6.1. General .......................................................................................................................................... 29 6.2. Partnership Interests ..................................................................................................................... 29 6.3. Entitlements to Income ................................................................................................................. 30 6.4. Distributions .................................................................................................................................. 30 6.5. Allocation of Net Income and Losses ............................................................................................ 31 6.6. Entitlements to Capital ................................................................................................................. 31 6.7. Transfer of Partnership Units ........................................................................................................ 31 7. DESCRIPTION OF THE CAPITAL STRUCTURE OF THE CORPORATION .......................................................... 32 7.1. Shares ............................................................................................................................................ 32 7.2. Non-Participating Voting Shares, Series 1 and 2 ........................................................................... 32 7.3. Issued and Outstanding Shares and Non-Participating Voting Shares, Series 1 and 2 ................. 33 7.4. Dividends....................................................................................................................................... 33 7.5. Information and Reports ............................................................................................................... 34 7.6. Book-Entry Only System ................................................................................................................ 34 7.7. Debentures ................................................................................................................................... 35 8. MANAGEMENT PARTNERSHIP'S INTEREST .................................................................................................. 35 9. EXCHANGE RIGHTS ...................................................................................................................................... 36 10. RISK FACTORS .............................................................................................................................................. 37 10.1. Risks Related to the Industry and IBI's Business ........................................................................... 37 10.2. Risks Related to the Structure of IBI ............................................................................................. 43 11. MARKET FOR SECURITIES ............................................................................................................................ 46 12. DIRECTORS AND EXECUTIVE OFFICERS ....................................................................................................... 48 12.1. Cease Trade Orders, Bankruptcies, Penalties or Sanctions ........................................................... 52 12.2. Governance ................................................................................................................................... 53 12.3. Insurance Coverage for the Corporation and Related Entities and Indemnification .................... 55 13. ADMINISTRATION AGREEMENT .................................................................................................................. 55 14. CREDIT FACILITIES ........................................................................................................................................ 56 15. INTERESTS OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS .............................................. 58 16. INTERESTS OF EXPERTS ............................................................................................................................... 58 17. TRANSFER AGENT AND REGISTRAR ............................................................................................................. 58 18. MATERIAL CONTRACTS...............................................................................................................................
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