IBEX Ltd

We are asking shareholders to approve an amendment (the “Amendment”) to the Ibex Limited Amended and Restated 2020 Long-Term Incentive Plan. On October 14, 2026, the Compensation Committee of the Board of Directors, acting pursuant to authority delegated by the Board, approved and adopted the Amendment, subject to approval by shareholders at the Annual Meeting.

In this proposal, we refer to the Ibex Limited Amended and Restated 2020 Long-Term Incentive Plan currently in effect as the “Current LTIP,” and we refer to the Ibex Limited Amended and Restated 2020 Long-Term Incentive Plan, as amended by the Amendment, as the “Amended LTIP.”

The Amendment would authorize an additional 1,000,000 Common Shares, par value $0.000111650536 per share ("Common Shares"), for issuance under the Amended LTIP, resulting in a new aggregate share reserve of 3,637,326.13 Common Shares. Except for the increase in the number of shares authorized for issuance, the Amendment would not materially change the terms of the Current LTIP.

The Amended LTIP will continue to provide the Compensation Committee with the flexibility to structure equity-based compensation arrangements that support the Company's evolving business objectives, reward sustained performance and promote the creation of long-term shareholder value. The Amended LTIP authorizes a variety of equity-based awards intended to encourage stock ownership among eligible officers, employees, consultants, other service providers and non-employee directors.

As of October 9, 2026, 460,424 Common Shares remained available for issuance under the Current LTIP. We believe that increasing the available share reserve is necessary to maintain a competitive compensation program, support the Company's long-term growth strategy and ensure that the Company can continue to attract, motivate and retain the talent essential to its success.

A conformed copy of the Amended LTIP is attached to this Proxy Statement as Appendix B. The following description of the Amended LTIP is only a summary of its principal terms and provisions and is qualified by reference to the actual text as set forth in Appendix B.