FP Newspapers Inc. — Proxy Solicitation & Information Statement 2023

Apr 20, 2023

2023 Management Information Circular Page | 2

FP NEWSPAPERS INC.

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

You are hereby invited to attend FP Newspapers Inc. ("FPI") 2023 annual meeting of the shareholders of FPI (the "Meeting").

How to attend

As COVID-19 continues to challenge Canadians and the economy, we have decided to hold the Meeting virtually again this year. You can participate in the virtual meeting by logging on to the webcast as detailed below.

Date and time

The Meeting will be held on Wednesday, May 31, 2023 at 11:00 a.m. (Central Standard Time) and can be accessed through the following Webcast, below. The Webcast will start automatically at the assigned time.

Join Zoom Meeting https://us06web.zoom.us/j/83238548821?pwd=WnpVcENpdUQyOVdOL0ZqNEtiYIZqZz09

Meeting ID: 832 3854 8821 Passcode: 804343

Who can vote

The record date for the Meeting is April 19, 2023. If you held FPI common shares as of the close of business on April 19, 2023, you will be entitled to one vote per common share held.

How to vote

You can vote in advance by proxy or voting instruction form, or vote in real-time at the virtual meeting by logging on to the webcast. Voting using the form of proxy you received is the easiest way to vote. How you cast your vote depends on how you hold your shares (see page 4 for details).

Meeting Agenda

The Meeting is being held to:

• Receive FPI's audited consolidated financial statements for the year ended December 30, 2022, and the auditor's report thereon;
• Appoint the auditors of the Company and to authorize the board of directors to fix the remuneration of the auditors;
• Approval of the 2022 annual general meeting minutes;
• Elect the board of directors;
• Elect the nominees to serve as directors of FPCN General Partner Inc.; and,
• Transact such other business as may properly come before the meeting or any adjournments thereof.

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DATED at Winnipeg, Manitoba, this 19th day of April 2023.

BY ORDER OF THE BOARD OF DIRECTORS

Dave Kreklewetz Chief Financial Officer

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