The first question you need to ask is: What does "a/b" mean?
The answer is: "a/b is a representative of a class of pairs of numbers $(a,b) \in Z \times Z $ such that two pairs $(a,b)$ and $(c,d)$ are equivalent if $ad=cb$."
This equivalence fails -is not transitive- if we include the pair $0/0$, because any pair should be equivalent to it, even two arbitrary pairs which are not equivalent between them. So we need to exclude the "indeterminate" pair, correcting the above definition to say instead $(a,b) \in Z \times Z - \{ (0,0) \}$.
All the elements of the form $0/a$ are equivalent. And similarly all the elements of the form $a/0$ are equivalent. Call them the classes $0/1$ and $1/0$
We can define multiplication operating in each $Z$ set, i.e. $(a,b).(c,d) \equiv (ac,bd) $. With this definition, the identity is the class represented by $(1,1)$.
We find that our multiplication is not defined for a product of elements in the classes $0/1$ and $1/0$. The product is precisely the excluded pair $(0,0)$. So if we want multiplication to be always well defined in our set of all the fractions, we need to exclude one of the two classes. Traditionally we exclude the class $1/0$, the class that the original post calls the "Impossible class".
Arriving here, we see that really the motivations to exclude the "undefined element" and the "impossible class" are very different: the former, being able to match any other fraction, completely destroys the transitivity of the equivalence relation, while the later simply is a nuisance to close the multiplication.
Both classes had the potential to do the role of a multiplicative zero: $$1/0 . (a,b) = (a,0) \propto 1/0 $$ $$0/1 . (a,b) = (0,b) \propto 0/1 $$ But now that we have declared the first one "impossible" it is clear that we now must kept the second one to be used as the traditional zero.
The last steps should be to define a sum operation such that $(a,b) + 0/1 = (a,b)$ and a mapping of the integer numbers into the fractions, $Z \longrightarrow Z \times Z - \{ (0,0) \}$, preserving the operations of sum and multiplication already defined in the integers, and mapping the zero and identity of the integers to the corresponding classes in the fractions. But as far as the OP questions goes, we do not need even to finish the construction :-)
EDIT it could be interesting to try to argue that, in the same way that with the usual definition of sum we have $(a,b) + 0/1 = (a,b)$, we should have that $(a,b)+ 1/0 = 1/0$. So we would be in accord with the usual meaning of "infinity" that we assign to this class. In fact it is so if we define
$$ (a,b) + (c,d) \equiv (ad+bc,bd)$$