Must Capital Inc. — Proxy Solicitation & Information Statement 2023

Jan 4, 2023

MUST CAPITAL INC.

(the “Corporation”)

FORM OF PROXY (“PROXY”)

Annual and Special Meeting January 26, 2023 at 12:00 p.m. EST 121 King Street West, Suite 2150, Toronto, ON M5H 3T9 (the “Meeting”)

RECORD DATE: December 16, 2022 CONTROL NUMBER: SEQUENCE #: FILING DEADLINE FOR PROXY: January 24, 2023 at 12:00 p.m. EST

VOTING METHOD

INTERNET	Go towww.voteproxyonline.comand enter the 12
	digit control numberabove
FACSIMILE	416-595-9593
MAIL	TSX Trust Company
	301 - 100 Adelaide Street West
	Toronto, Ontario,M5H 4H1

The undersigned hereby appoints Michele (Mike) Marrandino , whom failing Jason Meretsky (the “Management Nominees”), or instead of any of them, the following Appointee

Please print appointee name

as proxyholder on behalf of the undersigned with the power of substitution to attend, act and vote for and on behalf of the undersigned in respect of all matters that may properly come before the Meeting and at any adjournment(s) or postponement(s) thereof, to the same extent and with the same power as if the undersigned were personally present at the said Meeting or such adjournment(s) or postponement(s) thereof in accordance with voting instructions, if any, provided below.

- SEE VOTING GUIDELINES ON REVERSE -

RESOLUTIONS – MANAGEMENT VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT ABOVE THE BOXES

1. Election of Directors	FOR	FOR	FOR	FOR	FOR	FOR	WITHHOLD	WITHHOLD	WITHHOLD	WITHHOLD	WITHHOLD	WITHHOLD		4. Equity Incentive Plan Resolution	FOR	FOR	FOR	FOR	FOR	FOR	AGAINST	AGAINST	AGAINST	AGAINST	AGAINST	AGAINST
a) Michele(Mike)Marrandino														BE IT RESOLVED THAT the Equity Incentive Plan attached as Exhibit "B" to the Circular be approved, adopted and confirmed
b) Vikas Ranjan
c) BradleyScharfe														. 5. Name Change Resolution	FOR						AGAINST
d) Michael Feola														BE IT RESOLVED AS A SPECIAL RESOLUTION THAT
2. Appointment of Auditor	FOR						WITHHOLD							upon the Closing, the Corporation is hereby authorized to file articles of amendment to amend the name of the Corporation to “Clarity IOT Services & Technology Corp.” or to such other name as may be determined by the Board.	FOR AGAINST
Appointment ofDale Matheson Carr-Hilton Labonte LLPas
Auditor of the Corporation for the ensuing year and authorizing the Directors to fix their remuneration. 3. Resolution to Approve New Slate	FOR WITHHOLD
														6. Office Change Resolution
BE IT RESOLVED THAT effective upon and subject to the Closing the following persons be elected as directors to hold office until the next annual meeting of Shareholders or until a														BE IT RESOLVED AS A SPECIAL RESOLUTION THAT upon the Closing, the municipality of the registered office of the Corporation is hereby changed from the City of Toronto to the City of Ottawa.
successor is duly elected, unless his office is earlier vacated in accordance with the articles of the Corporation:
a) Michele(Mike)Marrandino
b) Michael Feola
c) Daniel Hilton
d) Rolf Christensen
e) Kristina Finch

2. Appointment of Auditor			FOR	FOR			WITHHOLD	WITHHOLD	WITHHOLD	WITHHOLD	WITHHOLD	WITHHOLD
Appointment ofDale Matheson Carr-Hilton Labonte LLPas Auditor of the Corporation for the ensuing year and authorizing the Directors to fix their remuneration. 3. Resolution to Approve New Slate BE IT RESOLVED THAT effective upon and subject to the Closing the following persons be elected as directors to hold office until the next annual meeting of Shareholders or until a successor is duly elected, unless his office is earlier vacated in			FOR				WITHHOLD
accordance with the articles of the Corporation:
a) Michele(Mike)Marrandino
b) Michael Feola
c) Daniel Hilton
d) Rolf Christensen
e) Kristina Finch

This proxy revokes and supersedes all earlier dated proxies and MUST BE SIGNED

PLEASE PRINT NAME

Signature of registered owner(s) Date (MM/DD/YYYY)

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Proxy Voting – Guidelines and Conditions

1. THIS PROXY IS SOLICITED BY MANAGEMENT OF THE CORPORATION.

2. THIS PROXY SHOULD BE READ IN CONJUNCTION WITH THE MEETING MATERIALS PRIOR TO VOTING.

3. If you appoint the Management Nominees to vote your securities, they will vote in accordance with your instructions or, if no instructions are given, in accordance with the Management Voting Recommendations highlighted for each Resolution on the reverse. If you appoint someone else to vote your securities, they will also vote in accordance with your instructions or, if no instructions are given, as they in their discretion choose.

4. This proxy confers discretionary authority on the person named to vote in his or her discretion with respect to amendments or variations to the matters identified in the Notice of the Meeting accompanying the proxy or such other matters which may properly come before the Meeting or any adjournment or postponement thereof.

5. Each security holder has the right to appoint a person other than the Management Nominees specified herein to represent them at the Meeting or any adjournment or postponement thereof. Such right may be exercised by inserting in the space labeled “ Please print appointee name ”, the name of the person to be appointed, who need not be a security holder of the Corporation.

6. To be valid, this proxy must be signed. Please date the proxy. If the proxy is not dated, it is deemed to bear the date of its mailing to the security holders of the Corporation.

Request for Financial Statements

In accordance with securities regulations, security holders may elect to receive Annual Financial Statements, Interim Financial Statements and MD&As.

Instead of receiving the financial statements by mail, you may choose to view these documents on SEDAR at www.sedar.com.

I am currently a security holder of the Corporation and as such request the following:

 [Annual Financial Statements with MD&A ]

 [Interim Financial Statements with MD&A ]

If you are casting your vote online and wish to receive financial statements, please complete the online request for financial statements following your voting instructions.

If the cut-off time has passed, please fax this side to 416-595-9593

 Check this box if you wish to receive the selected financial statements electronically and print your email address below

E-mail (optional)

By providing my email address, I hereby acknowledge and consent to all provisions outlined in the following: https://www.tsxtrust.com/consent-to-electronicdelivery?lang=en

MUST CAPITAL INC. 2023

1. To be valid, this proxy must be filed using one of the Voting Methods and must be received by TSX Trust Company before the Filing Deadline for Proxies , noted on the reverse or in the case of any adjournment or postponement of the Meeting not less than 48 hours (Saturdays, Sundays and holidays excepted) before the time of the adjourned or postponed meeting. Late proxies may be accepted or rejected by the Chairman of the Meeting in his discretion, and the Chairman is under no obligation to accept or reject any particular late proxy.

2. If the security holder is a corporation, the proxy must be executed by an officer or attorney thereof duly authorized, and the security holder may be required to provide documentation evidencing the signatory’s power to sign the proxy.

3. Guidelines for proper execution of the proxy are available at www.stac.ca. Please refer to the Proxy Protocol.

Investor inSite

TSX Trust Company offers at no cost to security holders, the convenience of secure 24-hour access to all data relating to their account including summary of holdings, transaction history, and links to valuable security holder forms and Frequently Asked Questions.

To register, please visit

https://www.tsxtrust.com/t/investor-hub/forms/investor-insiteregistration

Click on, “ Register ” and complete the registration form. Call us toll free at 1-866-600-5869 with any questions.

www.tsxtrust.com

VANCOUVER CALGARY TORONTO MONTRÉAL

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