<SEC-DOCUMENT>0001213900-22-078597.txt : 20221209
<SEC-HEADER>0001213900-22-078597.hdr.sgml : 20221209
<ACCEPTANCE-DATETIME>20221209093057
ACCESSION NUMBER:		0001213900-22-078597
CONFORMED SUBMISSION TYPE:	PRE 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221209
FILED AS OF DATE:		20221209
DATE AS OF CHANGE:		20221209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mawson Infrastructure Group Inc.
		CENTRAL INDEX KEY:			0001218683
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				880445167
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PRE 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40849
		FILM NUMBER:		221453810

	BUSINESS ADDRESS:	
		STREET 1:		LEVEL 5, 97 PACIFIC HIGHWAY
		CITY:			NORTH SYDNEY NSW
		STATE:			C3
		ZIP:			2060
		BUSINESS PHONE:		61 02 8624 6130

	MAIL ADDRESS:	
		STREET 1:		LEVEL 5, 97 PACIFIC HIGHWAY
		CITY:			NORTH SYDNEY NSW
		STATE:			C3
		ZIP:			2060

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Wize Pharma, Inc.
		DATE OF NAME CHANGE:	20171120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OphthaliX, Inc.
		DATE OF NAME CHANGE:	20120207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DENALI CONCRETE MANAGEMENT INC
		DATE OF NAME CHANGE:	20030213
</SEC-HEADER>
<DOCUMENT>
<TYPE>PRE 14A
<SEQUENCE>1
<FILENAME>ea169913-pre14a_mawson.htm
<DESCRIPTION>PRELIMINARY PROXY STATEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Amendment No. &nbsp;&nbsp;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by the Registrant &#9746;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by a party other than the Registrant &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Check the appropriate box:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9746;</TD><TD STYLE="text-align: justify">Preliminary Proxy Statement</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Definitive Proxy Statement</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Definitive Additional Materials</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Soliciting Material under &sect; 240.14a-12</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>MAWSON INFRASTRUCTURE
GROUP INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Registrant as Specified In Its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Payment of Filing Fee (Check all boxes that apply): </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9746;</TD><TD STYLE="text-align: justify">No fee required</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Fee paid previously with preliminary materials.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Fee computed on table in exhibit required by Item 25(b) per
Exchange Act Rules 14a- 6(i)(1) and 0-11</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MAWSON INFRASTRUCTURE GROUP INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[month/day], 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Stockholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Board of Directors (the
&ldquo;Board&rdquo;) of Mawson Infrastructure Group Inc. (&ldquo;Mawson&rdquo; or the &ldquo;Company&rdquo;) has approved an amendment
to the Certificate of Incorporation of the Company to (i) execute a reverse stock split of all of the outstanding shares of our common
stock, par value $0.001 per share (&ldquo;Common Stock&rdquo;), at a ratio of 1-6 (&ldquo;Reverse Stock Split&rdquo;); and (ii) decrease
the Company&rsquo;s authorized Common Stock from 120,000,000 shares to 90,000,000 shares (the &ldquo;Capitalization Reduction&rdquo;).
The Board&rsquo;s action to amend the Certificate of Incorporation to give effect to the Reverse Stock Split and Capitalization Reduction
is subject to the approval of our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Board has taken the view
that the Reverse Stock Split is necessary to enable the Company to comply with the listing requirements of the Nasdaq Capital Market.
In addition, following the Reverse Stock Split, the Company will have approximately 17,000,000 shares of Common Stock outstanding and
the Board has taken the view that the Company does not require such a high amount of authorized, but unissued Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Board urges you to read
the accompanying written consent solicitation carefully, as it contains a detailed explanation of, and reasons for, the Reverse Stock
Split and Capitalization Reduction. The Board believes that each of the proposed Reverse Stock Split and Capitalization Reduction is in
the best interests of the Company and its stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Please complete, date and
sign the enclosed written consent solicitation and return it promptly in the enclosed envelope on or before February 3, 2023, to ensure
that your vote is counted with respect to the proposed amendment to the Company&rsquo;s Certificate of Incorporation for the Reverse Stock
Split and Capitalization Reduction. You can also vote online at investorvote.com/MIGI by completing an electronic written consent solicitation.
You will be asked to provide the company number and control number from the enclosed written consent solicitation. Your vote must be received
by 5.00pm Eastern Time on February 3, 2023, to be counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James Manning</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -1.75in; text-indent: -0.75in; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MAWSON INFRASTRUCTURE GROUP INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Level 5, 97 Pacific Highway</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>North Sydney C3 NSW 2060 Australia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT SOLICITATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><U></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INTRODUCTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">This Consent Solicitation
Statement is being furnished in connection with the solicitation of written consents of the stockholders of Mawson Infrastructure Group
Inc. (&ldquo;Mawson&rdquo; or the &ldquo;Company&rdquo;) to amend the Company&rsquo;s Certificate of Incorporation to (i) execute a reverse
stock split of all of the outstanding shares of our common stock, par value $0.001 per share (&ldquo;Common Stock&rdquo;), at a ratio
of 1-6 (&ldquo;Reverse Stock Split&rdquo;) and (ii) decrease the Company&rsquo;s authorized Common Stock from 120,000,000 shares to 90,000,000
(the &ldquo;Capitalization Reduction&rdquo;). The Board considers the Reverse Stock Split necessary to enable the Company to comply with
the listing requirements of the Nasdaq Capital Market. In addition, following the Reverse Stock Split, the Company will have approximately
17,000,000 shares of Common Stock outstanding and the Board has taken the view that the Company does not require such a high amount of
authorized but unissued Common Stock. If the Board, in its sole discretion, determines not to implement the Reverse Stock Split, then
we will not reduce our authorized shares and we will continue to be authorized to issue up to 120,000,000 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Company intends to mail
this Consent Solicitation Statement and an accompanying written consent card on or about December 23, 2022, to the holders of record of
its Common Stock as of the close of business on December 22, 2022. This date is referred to as the &ldquo;record date.&rdquo; Written
consents of stockholders representing a majority of the voting power of our Common Stock on the record date are required to approve each
of the Reverse Stock Split and Capitalization Reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Board of Directors has
elected to obtain stockholder approval for the amendment to the Company&rsquo;s Certificate of Incorporation and Reverse Stock Split and
Capitalization Reduction by written consent, rather than by calling a special meeting of stockholders, pursuant to Section 228 of the
Delaware General Corporation Law and Section 1.1 of our Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Receipt of Consents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">You must return your written
consent to us by 5:00 p.m., Eastern Time, on February 3, 2023 (unless extended by the Company) (the &ldquo;Approval Date&rdquo;) for it
to be counted in the vote on the Reverse Stock Split and Capitalization Reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Stockholders who wish to vote
&ldquo;<B>YES</B>&rdquo; for each of the Reverse Stock Split and Capitalization Reduction should complete, sign and date the accompanying
written consent card and return it to the Company in the enclosed postage prepaid envelope as soon as possible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">A written consent card returned
by a stockholder will be counted &ldquo;consent to,&rdquo; &ldquo;does not consent to&rdquo; or &ldquo;abstain&rdquo; with respect to
the Reverse Stock Split and Capitalization Reduction, as indicated on the consent card, with respect to all shares shown on the books
of the Company as of the record date as being owned by such stockholder. Any stockholder who signs and returns the written consent card
but does not indicate a choice thereon will be deemed to have consented to the approval of each of the Reverse Stock Split and Capitalization
Reduction. Stockholder approval will be effective upon receipt by the Company of affirmative written consents representing a majority
of the Company&rsquo;s outstanding shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Who May Vote</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Only stockholders of record
as of the record date of December 22, 2022 (the &ldquo;Record Date&rdquo;), may vote. You are entitled to one vote for each share of the
Company&rsquo;s Common Stock you hold on the record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">You may vote on all shares
owned by you as of the Record Date, including (1) shares held directly in your name as the stockholder of record, and (2) shares held
for you as the beneficial owner in street name through a broker, bank, trustee, or other nominee. On the Record Date we had ____________
shares of Common Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each holder of Common Stock is entitled to one
vote for each share of Common Stock held as of the Record Date. Accordingly, there are ____________ votes outstanding voting as of the
Record Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>If you hold your stock
in &ldquo;street name&rdquo; and you fail to instruct your broker or nominee as to how to vote your shares, your broker or nominee MAY
NOT, pursuant to applicable stock exchange rules, vote your stock with respect to each of the Reverse Stock Split and Capitalization Reduction.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Company must receive written
consents representing a majority of the outstanding shares of our Common Stock for approval of the Reverse Stock Split and Capitalization
Reduction. Accordingly, abstentions from voting will have the effect of a vote &ldquo;against&rdquo; each of the Reverse Stock Split and
Capitalization Reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Revocation of Consent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">You may withdraw or change
your written consent before the earlier of (a) the solicitation period expiring February 3, 2023, and (b) the Reverse Stock Split becoming
effective upon the Company&rsquo;s filing of the Certificate of Amendment to its Certificate of Incorporation after receiving affirmative
written consents representing a majority of the Company&rsquo;s outstanding shares. You will need to send a letter to the Company&rsquo;s
corporate secretary stating that you are revoking your previous vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Absence of Appraisal Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Stockholders who abstain from
consenting with respect to each of the Reverse Stock Split and Capitalization Reduction, or who withhold consent to the amendment, do
not have the right to an appraisal of their shares of Common Stock or any similar dissenters&rsquo; rights under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Expenses of this Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">This solicitation is being
made by the Company&rsquo;s Board, and the Company will bear the costs of such solicitation, including preparation, printing and mailing
costs. Written consents will be solicited principally through the mail, but our directors, officers and employees may solicit written
consents personally or by telephone. Arrangements will be made with brokerage firms and other custodians, nominees and fiduciaries to
forward these consent solicitation materials to stockholders whose stock in the Company is held of record by such entities, and we will
reimburse such brokerage firms, custodians, nominees and fiduciaries for reasonable out-of-pocket expenses incurred by them in connection
therewith. In addition, we may pay for and utilize the services of individuals or companies we do not regularly employ in connection with
this consent solicitation if management determines it advisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>The Board of Directors
recommends that the stockholders give their written consent in favor of each of the Reverse Stock Split and Capitalization Reduction.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.3in">The following table shows information with respect
to the beneficial ownership of our Common Stock as of December 22, 2022, for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
person, or group of affiliated persons, known to us to own beneficially 5% or more of our outstanding Common Stock; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
of our directors and executive officers.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Percentage ownership is based
on ____________ shares of Common Stock outstanding as of December 22, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Except as indicated by footnote
and subject to community property laws where applicable, to our knowledge, the persons named in the table below have sole voting and investment
power with respect to all shares of Common Stock shown as beneficially owned by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Beneficial ownership is determined
in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities. Shares of our Common
Stock subject to options, warrants, notes or other conversion privileges currently exercisable or convertible, or exercisable within 60
days of the date of this table, are deemed outstanding for computing the percentage of the person holding such option, warrant, note,
or other convertible instrument but are not deemed outstanding for computing the percentage of any other person. Where more than one person
has a beneficial ownership interest in the same shares, the sharing of beneficial ownership of these shares is designated in the footnotes
to this table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; font-weight: bold">Shares of</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Beneficially Owned</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Number</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Percent</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Principal Stockholder:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; width: 77%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manning Capital Holdings Pty Ltd<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">4,797,135</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-align: left">Inbocalupo Pty Ltd</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,888,800</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Directors and Executive Officers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greg Martin<SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55,868</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James Manning<SUP>(3)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,894,988</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael Hughes<SUP>(4)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">417,568</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liam Wilson<SUP>(5)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">445,268</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-align: left">All officers and directors as a group (4 persons)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,813,692</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> &nbsp;</FONT></TD><TD STYLE="text-align: left">%</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
beneficial ownership of less than 1% of the outstanding shares of Common Stock.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
shares are beneficially owned by Manning Capital Holdings Pty Ltd.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
shares are beneficially owned by Mr. Martin, a member of the Board of Directors.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
shares are beneficially owned (directly and indirectly) by Mr. Manning, a member of the Board of Directors and Chief Executive Officer
of Mawson. Includes shares held by Manning Capital Holdings Pty Ltd, to which Mr. Manning has shared voting and investment power and
shares held by Defender Equities Pty Ltd, Robbins Estate Pty Ltd, and Woodville Super Pty Ltd.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
number is a combination of (i) 23,025 shares owned by Michael Hughes Family Trust; (ii) 357,935 shares owned by spouse, Jane Madgwick;
(iii) 1,608 shares owned directly by Michael Hughes; and (iv) 35,000 shares purchased by Roscommon Capital Pty Ltd (Michael Hughes' family
company).</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
shares are beneficially owned by Mr. Wilson, the Chief Operating Officer of Mawson.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>APPROVAL OF AMENDMENT OF OUR CERTIFICATE OF
INCORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO EFFECT A REVERSE STOCK SPLIT OF OUR COMMON
STOCK </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AT A RATIO OF 1-FOR-6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Our Board has unanimously
adopted a resolution to recommend to our stockholders for their approval, an amendment to Article III of our Certificate of Incorporation
authorizing a reverse stock split of all of the outstanding shares of our Common Stock at a ratio of 1-for-6 (a &ldquo;<B>Reverse Stock
Split</B>&rdquo;) and granting the Board the discretion to file a certificate of amendment to our Certificate of <B>I</B>ncorporation
with the Secretary of State of the State of Delaware. The form of the proposed amendment is attached to this proxy statement as Annex
A (the &ldquo;<B>Reverse Stock Split Amendment</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">If stockholders approve the
Reverse Stock Split, the Company intends to file an amendment to our Certificate of Incorporation with the Delaware Secretary of State,
which would be substantially in the form of the Reserve Stock Split Amendment attached to this Proxy Statement as Annex A. The Company
would also obtain a new CUSIP number for the Common Stock at the time of the Reverse Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Purpose</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The purpose of the proposed
Reverse Stock Split is to decrease the total number of shares of our Common Stock outstanding and increase the market price and liquidity
of our Common Stock. The Board believes that a decrease in the number of shares outstanding is in the best interests of the Company and
is likely to improve the trading price of our Common Stock, which would ensure the Company is in compliance with the $1.00 minimum bid
price continued listing requirement of The Nasdaq Capital Market. However, following the Reverse Stock Split there can be no assurance
that the market price of our Common Stock will rise in proportion to the reduction in the number of outstanding shares resulting from
the Reverse Stock Split or that the market price of the post-split Common Stock can be maintained at the minimum bid price required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">We have not proposed the Reverse
Stock Split in response to any effort of which we are aware to accumulate our Common Stock or obtain control of the Company, nor is it
a plan by management to recommend a series of similar actions to our Board or our stockholders. The Board does not intend for any of these
transactions to be the first step in a series of plans or proposals of a &ldquo;going private transaction&rdquo; within the meaning of
Rule 13e-3 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">We do not believe that our
officers or directors have interests in the Proposal that are different from or greater than those of any other of our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">If the Board ultimately determines
to effect the Reverse Stock Split, no action on the part of the stockholders is required. The Board may determine to delay the Reverse
Stock Split or determine not to effect the Reverse Stock Split at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effects of the Reverse Stock Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">After the effective date of
the proposed Reverse Stock Split, each stockholder will own a reduced number of shares of Common Stock. As of December 22, 2022, approximately
____________ shares of Common Stock were issued and outstanding. Following the Reverse Stock Split, we would have approximately ____________
shares of Common Stock issued and outstanding (without giving effect to fractional shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">If implemented, the
number of shares of our Common Stock owned by each of our stockholders will be reduced by the same proportion as the reduction in
the total number of shares of our Common Stock outstanding. The Reverse Stock Split will affect all common stockholders uniformly
and will not affect any stockholders&rsquo; percentage interest in the Company (except that some stockholders will receive one whole
share for a fractional share interest). Neither the authorized but unissued shares of Common Stock nor the par value for our Common
Stock will adjust as a result of the Reverse Stock Split (but the authorized but unissued shares of Common Stock may be adjusted by
the Capitalization Reduction). None of the rights currently accruing to holders of our Common Stock will be affected by the Reverse
Stock Split. The Reverse Stock Split will also not affect the ability of the Board to designate preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Stockholders should also recognize
that once the Reverse Stock Split has taken effect, they will own a fewer number of shares than they currently own (a number equal to
the number of shares owned immediately prior to the Reverse Stock Split divided by 6). While we expect that the Reverse Stock Split will
result in an increase in the per share price of our Common Stock, the Reverse Stock Split may not increase the per share price of our
Common Stock in proportion to the reduction in the number of shares of our Common Stock outstanding. It also may not result in a permanent
increase in the per share price, which depends on many factors, including our performance, prospects and other factors that may be unrelated
to the number of shares outstanding. The history of similar reverse stock splits for companies in similar circumstances is varied. We
cannot predict the effect of the Reverse Stock Split upon the market price over an extended period and, in some cases, the market value
of a company&rsquo;s common stock following a reverse stock split declines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Once the Reverse Stock Split
is effected and should the per-share price of our Common Stock decline, the percentage decline as an absolute number and as a percentage
of our overall market capitalization may be greater than would occur in the absence of the Reverse Stock Split. Furthermore, the liquidity
of our Common Stock could be adversely affected by the reduced number of shares that would be outstanding after the Reverse Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Further, an effect of the
existence of authorized but un-issued capital stock may be to enable the Board to render more difficult or to discourage an attempt to
obtain control of the Company by means of a merger, tender offer, proxy contest, or otherwise, and thereby to protect the continuity of
the Company&rsquo;s management. If, in the due exercise of its fiduciary obligations, for example, the Board were to determine that a
takeover proposal was not in the Company&rsquo;s best interests, such shares could be issued by the Board without stockholder approval
in one or more private placements or other transactions that might prevent, or render more difficult or costly, completion of the takeover
transaction by diluting the voting or other rights of the proposed acquirer or insurgent stockholder or stockholder group, by creating
a substantial voting block in institutional or other hands that might undertake to support the position of the incumbent board of directors,
by effecting an acquisition that might complicate or preclude the takeover, or otherwise. The Company does not have any current plans,
proposals, or arrangements to propose any amendments to its amended and restated certificate of incorporation or its bylaws that would
have a material anti-takeover effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Moreover, as a result of the
Reverse Stock Split, some stockholders may own less than 100 shares of the Common Stock. A purchase or sale of less than 100 shares, known
as an &ldquo;odd lot&rdquo; transaction, may result in incrementally higher trading costs through certain brokers, particularly &ldquo;full
service&rdquo; brokers. Therefore, those stockholders who own less than 100 shares following the Reverse Stock Split may be required to
pay higher transaction costs if they sell their shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">No fractional shares of post-Reverse
Stock Split Common Stock will be issued to any stockholder. In lieu of any such fractional share interest, each holder of pre-Reverse
Stock Split Common Stock who would otherwise be entitled to receive a fractional share of post-Reverse Stock Split Common Stock will in
lieu thereof receive one full share upon surrender of certificates formerly representing pre-Reverse Stock Split Common Stock held by
such holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effects of the Reverse Stock Split on Outstanding Convertible Notes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">If the Reverse Stock Split
is effected, any outstanding convertible notes entitling their holders to convert such debt into shares of Common Stock will have their
conversion price increased in direct proportion to the 1-6 Reverse Stock Split ratio. This increase in conversion price will reduce the
number of shares of Common Stock each noteholder will receive upon conversion. As of December 22, 2022, the principal outstanding on the
sole remaining convertible note was $500,000. If converted at the current conversion price of $0.85, the Company would be required to
issue 588,235 shares of Common Stock. Based on the 1-for-6 Reverse Stock Split, the conversion price for the convertible notes would increase
to $5.10 and the convertible note would be convertible into 98,039 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effects of the Reverse Stock Split on Outstanding Options and Warrants
to Purchase Common Stock, and Restricted Stock Units (&ldquo;RSUs&rdquo;) which can be exercised for or settled with Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">If the Reverse Stock Split
is effected, any outstanding options or warrants entitling their holders to purchase shares of our Common Stock, or RSUs which can settled
for shares of our Common Stock, will be proportionately changed by our Board in the same ratio as the reduction in the number of shares
of outstanding Common Stock, except that any fractional shares resulting from such reduction will be rounded down to the nearest whole
share, in the case of options and warrants to comply with the requirements of Code Section 409A, and in the case of RSUs as pursuant to
the 2021 Plan. Correspondingly, the per share exercise price of such options or warrants will be increased in direct proportion to the
Reverse Stock Split ratio, so that the aggregate dollar amount payable for the purchase of the shares subject to such securities will
remain unchanged. The RSUs do not have an exercise price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effects of the Reverse Stock Split on Our 2018 Stock Incentive Plan
and 2021 Equity Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Effective on February 22,
2018, the Company&rsquo;s Board of Directors and stockholders approved and adopted the Company&rsquo;s 2018 Stock Incentive Plan (the
&ldquo;2018 Plan&rdquo;). With respect to the number of shares reserved for issuance under our Plan, our Board will proportionately reduce
such reserve in accordance with the terms of the Plan. As of December 5, 2022, there were 4,741,534 shares of Common Stock reserved for
issuance under the 2018 Plan, of which 3,184,813 remained available for future awards, and following the Reverse Stock Split, if any,
such reserve will be reduced in direct proportion to the 1-6 Reverse Stock Split ratio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Effective August 17, 2021,
the Company&rsquo;s Board of Directors approved and adopted the Company&rsquo;s 2021 Equity Incentive Plan (the &ldquo;2021 Plan&rdquo;).
With respect to the number of shares reserved for issuance under the 2021 Plan, the Board will proportionately reduce such reserve in
accordance with the terms of the 2021 Plan. As of August 17, 2021 there were 7,000,000 shares of Common Stock reserved for issuance under
the 2021 Plan, and as of December 22, 2022 6,750,52 remain available for future awards. Following the Reverse Stock Split, if any, such
reserve will be reduced in director proportional to the 1-6 Reverse Stock Split ratio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Appraisal Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">No stockholder will have appraisal or dissenter&rsquo;s rights with
respect to the Reverse Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Increase of Shares of Common Stock Available for Future Issuance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">As a result of the Reverse
Stock Split, there will be a reduction in the number of shares of our Common Stock issued and outstanding, resulting in an increase in
the number of authorized shares that will be unissued and available for future issuance after the Reverse Stock Split. The Board will
have the authority, subject to applicable securities laws and, to the extent applicable, securities exchange listing requirements, to
issue all authorized and unissued shares without further stockholder approval, upon such terms and conditions as the Board deems appropriate.
The Company does not presently have any definitive agreement(s) to issue any shares of Common Stock available as a result of the Reverse
Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Holders of our Common Stock have no pre-emptive or other subscription
rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Certain Federal Income Tax Consequences of the Reverse Stock Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The following is a discussion
of certain material U.S. federal income tax consequences of the Reverse Stock Split to U.S. holders (as defined below). This discussion
is included for general information purposes only and does not purport to address all aspects of U.S. federal income tax law that may
be relevant to U.S. holders in light of their particular circumstances. This discussion is based on the Internal Revenue Code of 1986,
as amended (the &ldquo;Code&rdquo;), and current Department of the U.S. Treasury regulations, administrative rulings and court decisions,
all of which are subject to change, possibly on a retroactive basis, and any such change could affect the continuing validity of this
discussion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>STOCKHOLDERS ARE URGED
TO CONSULT THEIR TAX ADVISORS AS TO THE PARTICULAR FEDERAL, STATE, LOCAL, OR FOREIGN TAX CONSEQUENCES TO THEM OF THE REVERSE STOCK SPLIT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">This discussion does not
address tax consequences to stockholders that are subject to special tax rules, such as banks, insurance companies, regulated investment
companies, personal holding companies, U.S. holders whose functional currency is not the U.S. dollar, partnerships (or other flow-through
entities for U.S. federal income purposes and their partners or members), persons who acquired their shares in connection with employment
or other performance of services, broker-dealers, foreign entities, non-resident alien individuals and tax-exempt entities. This summary
also assumes that the shares of Common Stock are held as a &ldquo;capital asset,&rdquo; as defined in Section 1221 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">As used herein, the term
&ldquo;U.S. holder&rdquo; means a holder that is, for U.S. federal income tax purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">an
                                            individual citizen or resident of the United States;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                            corporation or other entity taxed as a corporation created or organized in or under the laws
                                            of the United States or any political subdivision thereof;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">an
                                            estate the income of which is subject to U.S. federal income tax regardless of its source;
                                            or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                            trust (A) if a U.S. court is able to exercise primary supervision over the administration
                                            of the trust and one or more &ldquo;U.S. persons&rdquo; (as defined in the Code) have the
                                            authority to control all substantial decisions of the trust or (B) that has a valid election
                                            in effect to be treated as a U.S. person.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Pursuant to the Reverse Stock
Split, each holder of our Common Stock outstanding immediately prior to the effectiveness of the Reverse Stock Split will become the
holder of fewer shares of our Common Stock after consummation of the Reverse Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Other than with respect to
any stockholder that receives a full share for a fractional share, a stockholder generally will not recognize a gain or loss by reason
of such stockholder&rsquo;s receipt of post-Reverse Stock Split shares pursuant to the Reverse Stock Split solely in exchange for pre-Reverse
Stock Split shares held by such stockholder immediately prior to the Reverse Stock Split. A stockholder&rsquo;s aggregate tax basis in
the post-Reverse Stock Split shares received pursuant to the Reverse Stock Split (including any fractional shares) will equal the stockholder&rsquo;s
aggregate basis in pre-Reverse Stock Split shares exchanged therefore and will be allocated among the post-Reverse Stock Split shares
received in the Reverse Stock Split on a pro-rata basis. Stockholders who have used the specific identification method to identify their
basis in the pre-Reverse Stock Split shares held immediately prior to the Reverse Stock Split should consult their own tax advisers to
determine their basis in the post-Reverse Stock Split shares received in exchange therefor in the Reverse Stock Split. A stockholder&rsquo;s
holding period in the post-Reverse Stock Split shares received pursuant to the Reverse Stock Split will include the stockholder&rsquo;s
holding period in the pre-Reverse Stock Split shares surrendered in exchange therefore, provided the pre-Reverse Stock Split shares surrendered
are held as capital assets at the time of the Reverse Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">A stockholder that receives
a full share for a fractional share may be treated as though it received a distribution from the Company to the extent that the value
of the full share exceeds the value of the fractional share the stockholder otherwise would have received. Such distribution would be
a dividend to the extent of the Company&rsquo;s current or accumulated earnings and profits. Any amount in excess of earnings and profits
would reduce the stockholder&rsquo;s basis in his or her shares by the amount of such excess. The portion of the full share in excess
of the fractional share would have a basis equal to the amount recognized as a dividend and the holding period for such share would begin
on the date of the deemed distribution. Stockholders should consult their own tax advisors to determine the consequences to them of receiving
a full share in exchange for a fractional share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">No gain or loss will be recognized by us as a result of the Reverse
Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Accounting Matters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The proposed amendment to
the Company&rsquo;s certificate of incorporation to effect the Reverse Stock Split will not affect the par value of our Common Stock
per share. As a result, on the effective date of the Reverse Stock Split, if any, the stated capital on our balance sheet will be reduced
proportionately based on the Reverse Stock Split ratio, from its present amount, and the additional paid-in capital account will be credited
with the amount by which the stated capital is reduced. Reported per share net income or loss will be higher because there will be fewer
shares of Common Stock outstanding. In future financial statements, net income or loss per share and other per share amounts for periods
ending before the Reverse Stock Split would be recast to give retroactive effect to the Reverse Stock Split. As described above under
&ldquo;Effects of the Reverse Stock Split on Outstanding Options and Warrants to Purchase Common Stock and on the Convertible Notes,&rdquo;
the per share exercise price of outstanding options and warrants would increase proportionately, and the number of shares of our Common
Stock issuable upon the exercise of outstanding options and warrants would decrease proportionately, in each case based on the Reverse
Stock Split ratio determined by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exchange Act Matters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Our Common Stock is currently
registered under the Exchange Act, and we are subject to the periodic reporting and other requirements of the Exchange Act. The Reverse
Stock Split, if implemented, will not affect the registration of our Common Stock under the Exchange Act or our reporting or other requirements
thereunder. Our Common Stock is currently listed on The Nasdaq Capital Market under the symbol &ldquo;MIGI&rdquo;. The CUSIP number for
our Common Stock will change in connection with the Reverse Stock Split and will be reflected on new certificates issued by the Company
and in electronic entry systems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effective Date</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The proposed Reverse Stock
Split, if approved by our stockholders, would become effective when the Certificate of Amendment to our Certificate of Incorporation
is filed with the Delaware Secretary of State, which would be substantially in the form of the Reverse Stock Split Amendment attached
to this Proxy Statement as Annex A. On the effective date of the Reverse Stock Split, shares of Common Stock issued and outstanding immediately
prior thereto will be combined and converted, automatically and without any action on the part of the stockholders, into new shares of
Common Stock in accordance with the 1-6 Reverse Stock Split ratio. As soon as practical after the effective date, the stockholders will
be notified that the Reverse Stock Split has been effected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effect on Registered and Beneficial Stockholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Following the Reverse Stock
Split, the Company intends to treat stockholders holding shares of our Common Stock in &ldquo;street name&rdquo; (that is, held through
a bank, broker or other nominee) in the same manner as stockholders of record whose shares of Common Stock are registered in their names.
Banks, brokers or other nominees will be instructed to effect the Reverse Stock Split for their beneficial holders holding shares of
our Common Stock in &ldquo;street name&rdquo;; however, these banks, brokers or other nominees may apply their own specific procedures
for processing the Reverse Stock Split. If you hold your shares of our Common Stock with a bank, broker or other nominee, and have any
questions in this regard, we encourage you to contact your nominee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effect on &ldquo;Book-Entry&rdquo; Stockholders of Record</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Company&rsquo;s stockholders
of record may hold some or all of their shares electronically in book-entry form. These stockholders will not have stock certificates
evidencing their ownership of our Common Stock. They are, however, provided with a statement reflecting the number of shares of Common
Stock registered in their accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">If you hold registered pre-Reverse
Stock Split shares in a book-entry form, you do not need to take any action to receive your post-Reverse Stock Split shares in registered
book-entry form, if applicable. A transaction statement will automatically be sent to your address of record as soon as practicable after
the effective time of the Reverse Stock Split indicating the number of post-Reverse Stock Split shares you hold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exchange of Stock Certificates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Some stockholders of record
hold their shares of our Common Stock in certificate form or a combination of certificate and book-entry form. If any of your shares
of our Common Stock are held in certificate form, our transfer agent will act as exchange agent for purposes of implementing the exchange
of stock certificates. As soon as practicable after the effective time, a letter of transmittal will be sent to our stockholders of record
as of the effective time for purposes of surrendering to the transfer agent certificates representing pre-Reverse Stock Split shares
in exchange for certificates representing post- Reverse Stock Split shares in accordance with the procedures set forth in the letter
of transmittal. No new certificates will be issued to a stockholder until such stockholder has surrendered such stockholder&rsquo;s outstanding certificate(s),
together with the properly completed and executed letter of transmittal, to the exchange agent. From and after the effective time of
the Reverse Stock Split, any certificates formerly representing pre-Reverse Stock Split shares which are submitted for transfer, whether
pursuant to a sale, other disposition or otherwise, will be exchanged for certificates representing post-Reverse Stock Split shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>STOCKHOLDERS SHOULD NOT
DESTROY ANY STOCK CERTIFICATE(S) AND SHOULD NOT SUBMIT ANY STOCK CERTIFICATE(S) UNTIL REQUESTED TO DO SO.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Required Vote</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The approval of the amendment
to our Certificate of Incorporation to effect the Reverse Stock Split requires the affirmative &ldquo;FOR&rdquo; vote of a majority of
the shares of Common Stock. Unless marked to the contrary, proxies received will be voted &ldquo;FOR&rdquo; the proposal to amend our
Certificate of Incorporation to effect the Reverse Stock Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Recommendation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>Our Board of Directors
recommends a vote FOR the proposal to approve the amendment to our Certificate of Incorporation to effect the Reverse Stock Split.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>APPROVAL OF AMENDMENT
OF OUR CERTIFICATE OF INCORPORATION TO EFFECT A REDUCTION IN OUR AUTHORIZED COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The proposed amendment to
our Certificate of Incorporation includes a reduction in our number of authorized shares of Common Stock. Currently, we may issue up
to 120,000,000 shares of Common Stock, and we propose to reduce that number to 90,000,000 at the same time that we effect the Reverse
Stock Split. If the Board, in its sole discretion, determines not to implement the Reverse Stock Split, then we will not reduce our authorized
shares and we will continue to be authorized to issue up to 120,000,000 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The reduction in authorized
shares will not be directly proportional to the Reverse Stock Split. If the number of authorized shares were to be reduced by the same
1 for 6 ratio as the reverse stock split, we would be left with 20,000,000 authorized shares. Instead, the Board has determined to reduce
the number of authorized shares from 120,000,000 to 90,000,000. The Board believes that 20,000,000 authorized shares would not provide
adequate flexibility to the Company to engage in future capital raising transactions, acquisitions or other transactions which might
require the issuance of Common Stock. If we were only authorized to issue 20,000,000 shares, based on the number of shares currently
outstanding and the number of shares reserved for issuance pursuant to stock options, warrants, preferred stock and convertible notes,
we would only be able to issue approximately an additional ____________ shares of Common Stock in future transactions. If we are authorized
to issue 90,000,000 shares of Common Stock, then we will be able to issue approximately an additional ____________ shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Reasons for the Reduction in Authorized Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The Company pays franchise
tax in Delaware based upon the number of shares of Common Stock and Preferred Stock that the Company is authorized to issue applying
either the par value or an assumed par value (based upon the total assets divided by the number of shares that are outstanding). By reducing
the authorized shares to 90,000,000, the franchise tax is expected to decrease. Additionally, the reduction in the number of authorized
shares would decrease the potential dilution to our stockholders following the reverse stock split. Of the 120,000,000 shares of Common
Stock we are currently authorized to issue, approximately ____________ shares are now outstanding. After we implement the reverse stock
split, we will have approximately ____________ shares outstanding. If we do not reduce the number of authorized shares, we could potentially
issue up to approximately ____________ shares of Common Stock, which could substantially dilute the ownership of the Company by our existing
stockholders. If we reduce the number of shares we are authorized to issue after we implement the reverse stock split to ____________,
then we could issue approximately ____________ shares (taking into account shares currently outstanding and the number of shares reserved
for issuance pursuant to stock options, warrants, preferred stock and convertible notes). Although the issuance of these shares would
still be dilutive to our current stockholders, the potential dilution would be substantially less than that which would be possible if
our authorized shares remain at 120,000,000. The Board also believes that 120,000,000 authorized shares of Common Stock would be disproportionately
large in relation to the Company&rsquo;s outstanding Common Stock after the Reverse Stock Split. This could make it more difficult for
the Company to obtain equity financing in the future because the Company would have the ability to dilute equity investments significantly
at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Required Vote</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The approval of the amendment
to our Certificate of Incorporation to effect the Capitalization Reduction requires the affirmative &ldquo;<B>FOR</B>&rdquo; vote of
a majority of the shares of Common Stock. Unless marked to the contrary, proxies received will be voted &ldquo;<B>FOR</B>&rdquo; the
proposal to amend our Certificate of Incorporation to effect the Capitalization Reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Recommendation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>Our Board of Directors
recommends a vote &ldquo;FOR&rdquo; the proposal to approve the amendment to our Certificate of Incorporation to effect the Capitalization
Reduction.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORWARD LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">This Consent Solicitation
Statement contains &ldquo;forward-looking statements&rdquo; within the meaning of the Private Securities Litigation Reform Act of 1995.
Such statements may be made directly in this Consent Solicitation Statement, and they may also be made a part of this Consent Solicitation
Statement by reference to other information filed with the Securities and Exchange Commission, which is known as &ldquo;incorporation
by reference.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Words such as &ldquo;anticipate,&rdquo;
&ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan&rdquo; and words of and terms of similar substance used in connection with any
discussion of future operating or financial performance, or any potential transaction, identify forward looking statements. All forward-looking
statements are management&rsquo;s present estimates of future events and are subject to a number of factors and uncertainties. Such statements
involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance
or achievements to differ materially from those anticipated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Our stockholders are cautioned
not to place undue reliance on the forward-looking statements, which speak only as of the date of this Consent Solicitation Statement
or as of the date of any document incorporated by reference in this Consent Solicitation Statement, as applicable. We are under no obligation
to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">We file annual, quarterly
and current reports, proxy statements and other documents with the Securities and Exchange Commission under the Securities Exchange Act
of 1934. The public may read and copy any materials that we file with the SEC at the SEC&rsquo;s Public Reference Room at 450 Fifth Street,
N.W., Washington, D.C. 20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.
Also, the SEC maintains a website that contains reports, proxy and information statements, and other information regarding issuers, including
us, that file electronically with the SEC. The public can obtain any documents that we file with the SEC at <I>http://www.sec.gov</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">In addition, our Company
website is <I>www.mawsoninc.com</I>. The website contains information about us and our operations. Copies of each of our filings with
the SEC on Form 10-K, Form 10-Q and Form 8-K, and all amendments to those reports, can be viewed and downloaded free of charge as soon
as reasonably practicable after the reports and amendments are electronically filed with or furnished to the SEC. To view the reports,
access the Company&rsquo;s website, <I>www.mawsoninc.com</I>, and click on &ldquo;Investors &mdash; SEC filings&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DATED: </B>____________, 2022</FONT></TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MAWSON INFRASTRUCTURE GROUP INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>James Manning</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Chief Executive Officer</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNEX A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF AMENDMENT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF INCORPORATION OF</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>MAWSON INFRASTRUCTURE GROUP INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Mawson Infrastructure Group
Inc. (the &ldquo;Corporation&rdquo;), a corporation organized and existing under and by virtue of the General Corporation Law of the
State of Delaware (the &ldquo;DGCL&rdquo;), DOES HEREBY CERTIFY AS FOLLOWS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">This Certificate of Amendment (the &ldquo;Certificate
                                            of Amendment&rdquo;) amends the provisions of the Corporation&rsquo;s Certificate of Incorporation
                                            filed with the Secretary of State on February 10, 2012, as amended February 28, 2012, July
                                            18, 2013, November 15, 2017, March 1, 2018, March 17, 2021, June 9, 2021 and August 11, 2021
                                            (collectively, the &ldquo;Certificate of Incorporation&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Section 3.1(i) of Article III of the Certificate of Incorporation
                                            is hereby amended and restated in its entirety such that, as amended, said section shall
                                            read in its entirety as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&ldquo;(i)</TD><TD STYLE="text-align: justify">The total number of shares of stock which the Corporation
shall have authority to issue is 90,000,000 shares of common stock, par value $.001 per share, and 1,000,000 shares of preferred stock,
par value $.001 per share.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify">Upon the filing and effectiveness (the &ldquo;<B>Effective
Time</B>&rdquo;) pursuant to the Delaware General Corporation Law of this Certificate of Amendment <FONT STYLE="font-size: 10pt">, each
six (6) shares of Common Stock issued and outstanding immediately prior to the Effective Time shall be and hereby are automatically reclassified
and changed (without any further act) into one (1) fully paid and nonassessable share of Common Stock, provided that in the event a stockholder
would otherwise be entitled to a fraction of a share, such stockholder shall receive one whole share of Common Stock in lieu of such
fractional share and no fractional shares shall be issued.&rdquo;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">This&nbsp;Certificate of Amendment&nbsp;was duly adopted in accordance
                                            with the provisions of Sections 228 and 242 of the General Corporation Law of the State of
                                            Delaware.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD>All other provisions of the&nbsp;Certificate&nbsp;of&nbsp;Incorporation&nbsp;shall
                                            remain in full force and effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">IN WITNESS WHEREOF, the Corporation
has caused this Certificate of Amendment to be signed this</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_____ day of __________, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MAWSON INFRASTRUCTURE GROUP INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT>:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James Manning, Chief Executive Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WRITTEN CONSENT OF STOCKHOLDERS OF MAWSON INFRASTRUCTURE
GROUP<BR>
 INC. APPROVING AMENDMENT TO THE COMPANY&rsquo;S CERTIFICATE OF<BR>
 INCORPORATION TO EFFECTUATE THE 1-FOR-6 REVERSE STOCK SPLIT AND<BR>

REDUCE THE AUTHORIZED COMMON STOCK TO 90,000,000 SHARES</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">The undersigned stockholder(s) of Mawson Infrastructure Group Inc.
(the &ldquo;Company&rdquo;) hereby:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Proposal 1:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744; </FONT><FONT STYLE="font-size: 10pt"><B>FOR</B></FONT></TD>
    <TD STYLE="width: 20%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT>
    <FONT STYLE="font-size: 10pt"><B>AGAINST</B></FONT></TD>
    <TD STYLE="width: 60%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT>
    <FONT STYLE="font-size: 10pt"><B>ABSTAIN</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">A proposal to amend ARTICLE III of the Company&rsquo;s
Certificate of Incorporation to effect the 1-6 reverse stock split of the outstanding common stock, par value $0.001 per share (&ldquo;Common
Stock&rdquo;) of the Company (the &ldquo;Reverse Stock Split&rdquo;) as described in the accompanying Consent Solicitation Statement
of the Company dated ____________ , 2022.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Proposal 2:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744; </FONT><FONT STYLE="font-size: 10pt"><B>FOR</B></FONT></TD>
    <TD STYLE="width: 20%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT>
    <FONT STYLE="font-size: 10pt"><B>AGAINST</B></FONT></TD>
    <TD STYLE="width: 60%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT>
    <FONT STYLE="font-size: 10pt"><B>ABSTAIN</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">A proposal to amend ARTICLE III of the Company&rsquo;s Certificate
of Incorporation to reduce the authorized Common Stock to 90,000,000 shares (&ldquo;Capitalization Reduction&rdquo;) shares as described
in the accompanying Consent Solicitation Statement of the Company dated ____________, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">By signing this written consent,
a stockholder of the Company shall be deemed to have voted all shares of the Company&rsquo;s common stock which he or she is entitled
to vote in accordance with the specifications made above, with respect to each of the Reverse Stock Split and Capitalization Reduction
described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">If a stockholder signs and
returns this written consent, but does not indicate thereon the manner in which he or she wishes his or her shares to be voted with respect
to the proposal described above, then such stockholder will be deemed to have given his or her affirmative written consent in favor of
approval of each of the Reverse Stock Split and Capitalization Reduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>THIS WRITTEN CONSENT IS
SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY. THIS WRITTEN CONSENT MAY BE REVOKED BY FILING A WRITTEN INSTRUMENT REVOKING
THE CONSENT WITH THE COMPANY&rsquo;S SECRETARY AT ANY TIME PRIOR TO THE EARLIER OF (A) THE SOLICITATION PERIOD EXPIRING FEBRUARY 3, 2023,
AND (B) THE REVERSE STOCK SPLIT BECOMING EFFECTIVE UPON THE COMPANY&rsquo;S FILING OF THE CERTIFICATE OF AMENDMENT TO ITS CERTIFICATE
OF INCORPORATION AFTER RECEIVING AFFIRMATIVE WRITTEN CONSENTS REPRESENTING A MAJORITY OF THE COMPANY&rsquo;S OUTSTANDING SHARES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B>THE COMPANY&rsquo;S BOARD
OF DIRECTORS RECOMMENDS THAT YOU GIVE YOUR AFFIRMATIVE WRITTEN CONSENT IN FAVOR OF APPROVAL OF EACH OF THE REVERSE STOCK SPLIT AND CAPITALIZATION
REDUCTION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: left"><FONT STYLE="font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 37%; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">(Please Print Name)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">(Signature of Stockholder)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">(Please Print Name)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">(Signature of Stockholder)</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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