This Management’s Discussion and Analysis (“MD&A”) prepared as at May 27, 2022, reviews the financial condition and results of operations of Ignite International Brands, Ltd. (the “Company” or “Ignite”) for the period ended March 31, 2022 (“2022- Q1”), with comparatives for the period ending March 31, 2021 (“2021-Q1”) and 2020 (“2020-Q1”). March 31 also represent the year-to-date results for the Company as the Company’s fiscal year commences on January 1. Comparative figures are also provided for items on the Statement of Financial position for the period ended December 31, 2021, and 2020 (“2021-YE” and “2020-YE”). All other material events up to the date of this report has been included. The following discussion should be read in conjunction with the interim consolidated financial statements of the Company for the period ended March 31, 2022 (“Financial Statements”), along with the March 31, 2021 and 2020 interim consolidated financial statements (collectively, the “Comparative Financial Statements”). The Company’s Financial Statements and Comparative Financial Statements can be found under the Company’s profile on SEDAR at www.sedar.com.

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