EQB Inc. — Proxy Solicitation & Information Statement 2020

Apr 8, 2020

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8th Floor, 100 University Avenue Toronto, Ontario M5J 2Y1 www.computershare.com

Security Class

Holder Account Number

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Form of Proxy - Annual Meeting of Shareholders to be held on May 15, 2020

This Form of Proxy is solicited by and on behalf of Management.

Notes to proxy

1. Every shareholder has the right to appoint some other person of their choice, who need not be a shareholder, to attend and act on their behalf at the meeting. If you wish to appoint a person other than the persons whose names are printed herein, please insert the name of your chosen proxyholder in the space provided (see reverse).

2. The form of proxy should be signed in the exact manner as the name appears above. If a corporation is the shareholder, the form of proxy should be signed by its duly authorized officer(s).

3. If this form of proxy is not dated, it will be deemed to bear the date on which it is mailed to the shareholder.

4. The shares represented by this proxy will be voted as directed by the shareholder. In the absence of such directions, shares represented by proxies received by management will be voted FOR items 1, and 2 on the reverse.

5. This proxy confers discretionary authority on the proxyholder in respect of amendments or variations to matters identified in the Notice of Meeting or other matters that may properly come before the meeting. Unless otherwise specified, the proxyholders designated by management in this proxy will vote FOR items 1, and 2 on the reverse.

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1. This proxy should be read in conjunction with the accompanying Notice of Annual Meeting of Shareholders and Management Information Circular.

Proxies submitted must be received by 10:00 a.m., Eastern Time, on Wednesday, May 13, 2020

VOTE USING THE TELEPHONE OR INTERNET 24 HOURS A DAY 7 DAYS A WEEK!

• To Receive Documents To Virtually Attend

• To Vote Using the Telephone To Vote Using the Internet Electronically the Meeti ~~n~~ g

• • Call the number listed BELOW from a touch • Go to the following web • You can enroll to receive future • You can attend the meeting virtually tone telephone. site: www.investorvote.com securityholder communications by visiting the URL provided on the

• 1-866-732-VOTE (8683) Toll Free • Scan the QR code Smartphone? electronically by visiting www.investorcentre.com and clicking at back of this proxy. to vote now. the bottom of the page.

• Call the number listed BELOW from a touch tone telephone.

If you vote by telephone or the Internet, DO NOT mail back this proxy.

Voting by mail may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual. Voting by mail or by Internet are the only methods by which a holder may appoint a person as proxyholder other than the Management nominees named on the reverse of this proxy. Instead of mailing this proxy, you may choose one of the two voting methods outlined above to vote this proxy.

To vote by telephone or the Internet, you will need to provide your CONTROL NUMBER listed below.

CONTROL NUMBER

01L1EA

Appointment of Proxyholder

The undersigned shareholder(s) of Equitable Group Inc. hereby appoint(s) David LeGresley, Chair of the Board, or failing him, Andrew Moor, President and Chief Executive Officer

OR

Print the name of the person you are appointing if this person is someone other than the Management Nominees listed herein.

Note: If completing the appointment box above and your appointee intends on attending online YOU MUST go to http://www.computershare.com/EQGQ and provide Computershare with the name and email address of the person you are appointing. Computershare will use this information ONLY to provide the appointee with a user name to gain entry to the online meeting.

as my/our proxyholder with full power of substitution and to vote in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and all other matters that may properly come before the Annual Meeting of Shareholders of Equitable Group Inc. to be held online at https://web.lumiagm.com/225652488, on May 15, 2020 at 10:00 a.m. (Eastern Time) and at any adjournment thereof.

VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT OVER THE BOXES.

1. Election of Directors

1. Election of Directors
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	For	Withhold		For	Withhold		For	Withhold
01. Eric Beutel			02. Michael Emory			03. Susan Ericksen
04. Kishore Kapoor			05. David LeGresley			06. Lynn McDonald
07. Andrew Moor			08. Rowan Saunders			09. Vincenza Sera
10. Michael Stramaglia
							For	Withhold

2. Appointment of Auditors

Appointment of KPMG LLP as Auditors of the Corporation for the ensuing year and authorizing the Directors to fix their remuneration.

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Authorized Signature(s) – This section must be completed for your instructions to be executed.

I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting instructions are indicated above, this Proxy will be voted as recommended by Management.

Signature(s) Date MM / DD / YY

Interim Financial Statements – Mark this box if you Annual Financial Statements – Mark this box if you would like to receive interim financial statements and would like to receive the Annual Financial Statements and Mark this box if you accompanying Management’s Discussion and Analysis accompanying Management’s Discussion and Analysis by mail. by mail. If you are not mailing back your proxy, you may register online to receive the above financial report(s) by mail at www.computershare.com/mailinglist.

Annual Financial Statements – would like to receive the Annual Financial Statements and Mark this box if you Information Circular – Mark this box if you would like to receive the Information Circular by mail for the next accompanying Management’s Discussion and Analysis securityholders’ meeting. by mail.

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