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CXI Management Information Circular February 4 2021

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CXI Management Information Circular February 4 2021 CURRENCY EXCHANGE INTERNATIONAL, CORP. NOTICE OF MEETING AND MANAGEMENT INFORMATION CIRCULAR WITH RESPECT TO THE ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON MARCH 17, 2021 Dated February 4, 2021 Table of Contents NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS .................................. 1 MANAGEMENT INFORMATION CIRCULAR .................................................................................................... 2 GENERAL INFORMATION RESPECTING THE MEETING ............................................................................ 2 INTEREST OF CERTAIN PERSONS OR COMPANIES IN MATTERS TO BE ACTED UPON ................... 6 VOTING SECURITIES AND PRINCIPAL HOLDERS OF VOTING SECURITIES ........................................ 6 BUSINESS OF THE MEETING ................................................................................................................................ 7 EXECUTIVE COMPENSATION............................................................................................................................ 11 Compensation Discussion and Analysis ..................................................................................................... 13 Compensation Principles and Objectives .................................................................................................. 14 Compensation Governance ......................................................................................................................... 14 Compensation Program Design.................................................................................................................. 15 Annual Compensation Review Process........................................................................................................ 18 Analysis of 2020 Compensation Decisions ................................................................................................. 20 Performance Graph .................................................................................................................................... 23 Summary Compensation Table .................................................................................................................. 24 Incentive Plan Awards ................................................................................................................................ 26 Pension Plan Benefits .................................................................................................................................. 27 Termination and Change of Control Benefits ........................................................................................... 27 Director Compensation ............................................................................................................................... 28 Directors’ Share Ownership Guidelines .................................................................................................... 29 Director Compensation Table .................................................................................................................... 30 Option Based Plan Awards ......................................................................................................................... 30 SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS ................... 32 STATEMENT OF CORPORATE GOVERNANCE PRACTICES ...................................................................... 35 AUDIT COMMITTEE INFORMATION ............................................................................................................... 39 INDEBTEDNESS OF DIRECTORS AND EXECUTIVE OFFICERS ................................................................ 39 INTEREST OF INFORMED PERSONS IN MATERIAL TRANSACTIONS ................................................... 40 ADDITIONAL INFORMATION ............................................................................................................................. 40 APPROVAL ............................................................................................................................................................... 40 SCHEDULE “A” ....................................................................................................................................................... 41 SCHEDULE “B”........................................................................................................................................................ 44 1 CURRENCY EXCHANGE INTERNATIONAL, CORP. NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS Notice is hereby given that an annual general and special meeting (the “Meeting”) of the shareholders (“Shareholders”) of Currency Exchange International, Corp. (the “Corporation”) will be held in a virtual-only format by way of a live webcast using the Resolve Collaboration Services platform, hosted by Accutel Inc., by logging into the URL at https://www.meetview.com/cxi20210317nv/ on March 17, 2021 at 12:00 p.m. (Eastern Standard Time) via a live video, for the following purposes: 1. to receive and consider the financial statements of the Corporation for the year ended October 31, 2020 and the report of the auditors thereon; 2. to appoint Grant Thornton LLP as the auditors of the Corporation for the ensuing year and to authorize the directors of the Corporation to fix their remuneration; 3. to elect the directors of the Corporation for the ensuing year; 4. to consider, and if deemed advisable, to pass, with or without variation, an ordinary resolution to approve all unallocated options under the Corporation’s incentive stock option plan; and 5. to transact such other business as may properly come before the Meeting or any adjournments or postponements thereof. Shareholders may attend the Meeting, on the virtual-only basis by either going to the following web-address: https://www.meetview.com/cxi20210317nv/ and follow the instructions on the landing page as directed for registered shareholders, appointed proxies or guest participants by teleconference by dialing 416-764-8646 (Local-Toronto) or (+1) 888-396-8049 (Toll-free North America) The nature of the business to be transacted at the Meeting is described in further detail in the management information circular of the Corporation dated February 4, 2021 (the “Circular”) under the section entitled “Business of the Meeting”. The record date for the determination of Shareholders entitled to receive notice of, and to vote at, the Meeting or any adjournments or postponements thereof is February 4, 2021 (the “Record Date”). Shareholders whose names have been entered in the register of shareholders at the close of business on the Record Date will be entitled to receive notice of, and to vote, at the Meeting or any adjournments or postponements thereof. As at the Record Date, 6,414,936 Common Shares were issued and outstanding and eligible to be voted at the Meeting. Notice-and-Access The Corporation is utilizing the notice-and-access mechanism (the “Notice-and-Access Provisions”) under National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer and National Instrument 51-102 – Continuous Disclosure Obligations, for distribution of Meeting materials to registered and beneficial Shareholders. The Notice-and-Access Provisions allow reporting issuers to post electronic versions of proxy-related materials (such as proxy circulars and annual financial statements) on-line, via the System for Electronic Document Analysis and Retrieval (“SEDAR”) and one other website, rather than mailing paper copies of such materials to Shareholders. Website Where Meeting Materials are Posted Electronic copies of the Circular and other proxy-related materials may be found on the Corporation’s SEDAR profile at www.sedar.com or at http://www.envisionreports.com/CUKQ2021. Electronic copies of financial statements of the Corporation for the year ended October 31, 2020 (“Financial Statements”) and management’s discussion and analysis of the Corporation’s results of operations and financial condition for 2020 (“MD&A”) may be found on the Corporation’s SEDAR profile at www.sedar.com or www.ceifx.com/page/financial-statements. The Corporation will not use procedures known as “stratification” in relation to the use of Notice-and-Access Provisions. Stratification occurs when a reporting issuer using the Notice-and-Access Provisions provides a paper copy of the Circular to some 1 Shareholders with this notice package. In relation to the Meeting, all Shareholders will receive the required documentation under the Notice-and-Access Provisions, which will not include a paper copy of the Circular. Obtaining Paper Copies of Materials The Corporation anticipates that using notice-and-access for delivery to all Shareholders will directly benefit the Corporation through a substantial reduction in both postage and material costs, and also promote environmental responsibility by decreasing the large volume of paper documents generated by printing proxy-related materials. Shareholders with questions about notice-and-access can contact the Corporation’s transfer agent, Computershare Trust Company of Canada (“Computershare”) toll-free at 1.866.962.0498. Shareholders may also obtain paper copies of the Circular, Financial Statements and MD&A free of charge by contacting Computershare at the same toll- free number prior to the Meeting. Any post-Meeting requests for materials may be directed to the Corporate Secretary of the Corporation at 1.888.998.3948.
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