TABLE OF CONTENTS PROXY INFORMATION - Q&A ............................................................................................. 1 MANAGEMENT INFORMATION CIRCULAR ........................................................................ 5 BUSINESS OF THE MEETING ............................................................................................. 6 Item 1 - Financial Statements .................................................................................... 6 Item 2 - Election of Directors ...................................................................................... 6 Item 3 - Appointment of Auditors ............................................................................... 7 Item 4 - “Say-on-Pay” Advi sory Resolution ................................................................. 8 BOARD AND GOVERNANCE HIGHLIGHTS ......................................................................... 9 DIRECTOR INFORMATION.................................................................................................. 10 Nominee Information .................................................................................................. 10 Director Compensation ............................................................................................... 18 Discussion of Director Compensation Table .............................................................. 19 Incentive Plan Awards for Directors ........................................................................... 23 STATEMENT OF GOVERNANCE PRACTICES ...................................................................... 27 Board of Directors ....................................................................................................... 27 Board Committees ...................................................................................................... 31 Nomination of Directors, Board Renewal and Diversity ............................................ 36 Skills Matrix ................................................................................................................. 37 Compensation Process ............................................................................................... 40 Board Assessment ...................................................................................................... 40 Succession Planning ................................................................................................... 40 Ethical Business Conduct ........................................................................................... 41 Environmental and Social Responsibility ................................................................... 45 STATEMENT OF EXECUTIVE COMPENSATION .................................................................. 46 COMPENSATION PROGRAM HIGHLIGHTS AND BEST PRACTICES................................... 48 COMPENSATION DISCUSSION & ANALYSIS ..................................................................... 49 Compensation Governance ........................................................................................ 49 Compensation Philosophy and Objectives ................................................................. 51 Benchmarking ............................................................................................................. 52 Risk Management ....................................................................................................... 52 Elements of Compensation ........................................................................................ 52 Elements of Incentive Compensation ........................................................................ 55 Corporate Goals and Performance Measures .......................................................... 56 2021 Objective Performance Metrics ....................................................................... 57 2021 Corporate Performance and Incent ive Compensation Awards ...................... 63 Named Executive Officers: Accomplish ments and Incentive Awards ....................... 66 Other ......................................................................................................................... ... 69 Anticipated Changes to Compensation Policies and Practices ................................ 69 Performance Graph ..................................................................................................... 70 Summary Compensation Table .................................................................................. 71 Discussion of Summary Compensation Table ........................................................... 73 Incentive Plan Awards ................................................................................................. 76