The Westaim Corporation — Proxy Solicitation & Information Statement 2026

Apr 27, 2026

THE WESTAIM CORPORATION

NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that the annual and special meeting of shareholders (the “Meeting”) of The Westaim Corporation (the “Corporation”) will be held at 200 Park Avenue, Skyline Conference Room, 8th Floor, New York, New York 10166 on Tuesday, May 19, 2026 at 9:30 a.m. (Eastern time) to:

(a) receive and consider the financial statements of the Corporation for the financial year ended December 31, 2025 together with the auditors’ report thereon;
(b) elect as directors for the forthcoming year the nominees proposed by management of the Corporation;
(c) re-appoint Deloitte & Touche LLP as auditors of the Corporation and to authorize the audit committee of the board of directors of the Corporation (the “Board”) to fix the auditors’ remuneration and terms of engagement;
(d) consider and, if deemed appropriate, pass a resolution confirming and approving the amended and restated long-term equity incentive 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.

This Notice of Meeting is accompanied by a management information circular and a form of proxy (a “Proxy Instrument”).

The record date for the determination of shareholders of the Corporation entitled to receive notice of and to vote at the Meeting or any adjournment(s) or postponement(s) thereof is April 9, 2026 (the “Record Date”). Shareholders of 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 320 Bay Street, 14th Floor, Toronto, Ontario M5H 4A6. 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 9:30 a.m. (Eastern time) on May 14, 2026 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 New York, New York this 9th day of April, 2026.

BY ORDER OF THE BOARD

(signed) “J. Cameron MacDonald”
J. Cameron MacDonald
Director and Chief Executive Officer