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 .........................................................................................................