Hi,
You don't have to have FAB-2. The IO modules works with FAB-1 too. FAB-2 just give you more Gbps.
See Q&A below:
Q. Are the Nexus 7000 Fabric-2 modules compatible with existing Cisco Nexus 7000 Series I/O modules?
A. The Nexus 7000 Fabric-2 modules are compatible with all Cisco Nexus 7000 Series I/O modules. I/O modules that can operate at 230 Gbps per slot with Fabric-1 modules will continue to run at the same speed on the chassis with Fabric-2 modules. I/O modules that can operate at 550 Gbps per slot will operate at that speed in chassis with Fabric-2 modules.
HTH