The Westaim Corporation — Proxy Solicitation & Information Statement 2022

Apr 25, 2022

THE WESTAIM CORPORATION

NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that Meeting Corporation M5H 1J9 on Wednesday, May 18, 2022 at 9:00 a.m. (Eastern Time) to:

• (a) receive and consider the financial statements of the Corporation for the financial year ended December

• (b) elect as directors for the forthcoming year the nominees proposed by management of the Corporation;

• (c) re-appoint Deloitte LLP, Chartered Professional Accountants, as auditors of the Corporation and to Board

• (d) consider and, if deemed appropriate, pass a resolution confirming and approving the amended and restated 10% rolling incentive stock option plan of the Corporation, as required by the TSX Venture Exchange on an annual basis; and

• (e) transact such other business as may properly come before the Meeting or any adjournment(s) or postponement(s) thereof.

Proxy

Instrument

The record date for the determination of shareholders of the Corporation entitled to receive notice of and to vote at Record Date the Corporation whose names have been entered in the register of shareholders of the Corporation at the close of business on the Record Date will be entitled to receive notice of and to vote at the Meeting or any adjournment(s) or postponement(s) thereof.

A shareholder of the Corporation may attend the Meeting in person or may be represented by proxy. Registered shareholders of the Corporation who are unable to attend the Meeting or any adjournment(s) or postponement(s) thereof in person are requested to date, sign and return the accompanying Proxy Instrument for use at the Meeting or any adjournment(s) or postponement(s) thereof.

To be effective, the enclosed Proxy Instrument must be returned to Computershare Investor Services Inc. by: (i) mail using the enclosed return envelope; or (ii) hand delivery to Computershare at 8th Floor, 100 University Avenue, Toronto, Ontario, M5J 2Y1. Alternatively, you may vote by telephone at 1-866-732-VOTE (8683) (toll-free within North America) or 1-312-588-4290 (outside North America), by Internet using the 15 digit control number located at the bottom of the Proxy Instrument at www.investorvote.com or by facsimile to 1-866-249-7775/416-263-9524. All instructions are listed on the enclosed Proxy Instrument. Your proxy or voting instructions must be received in each case no later than 9:00 a.m. (Eastern time) on May 16, 2022 or, if the Meeting is adjourned, at least 48 hours (excluding Saturdays, Sundays and statutory holidays in the Province of Ontario) before the beginning of any adjournment or postponement to the Meeting.

- If you are a non registered beneficial shareholder, a voting information form (also known as a VIF), instead of a form of proxy, may be enclosed. You must follow the instructions provided by your intermediary in order to vote your common shares.

DATED at Toronto, Ontario this 13[th] day of April, 2022.

BY ORDER OF THE BOARD

(signed) J. Cameron MacDonald

J. Cameron MacDonald Director, President and Chief Executive Officer

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