Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 32

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 32
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and composition of the audit committee and compensation committee.

The term controlling shareholder, as used in the Companies Law
for purposes of all matters related to external directors and for certain other purposes, means a shareholder that has the ability to
direct the activities of the company, other than by virtue of being an office holder. For purposes of all matters related to external
directors, a shareholder is presumed to be a controlling shareholder if the shareholder holds 50% or more of the voting rights in the
company or has the right to appoint the majority of the directors of the company or its general manager (chief executive officer).

Directors’ Service Contracts

There are no arrangements or understandings between us, on the
one hand, and any of our directors, on the other hand, providing for benefits upon termination of their service as directors of our company.

Financial Statements Review and Audit Committee

Our financial statements review and audit committee, or audit committee,
consists of Mr. Dan Falk, Mr. Nir Nimrodi and Dr. Oded Shoseyov. Mr. Falk serves as the Chairperson of the audit committee.

Requirements as to Composition

Companies Law Requirements

Under the Companies Law, the board of directors of a public company
must appoint an audit committee. The audit committee must be comprised of at least three directors.

Following the promulgation of the regulations described above,
we may comply with the requirements of the Companies Law by appointing an audit committee whose composition complies with the Nasdaq Listing
Rules. Under the Nasdaq Listing Rules, we are required to maintain an audit committee consisting of at least three independent directors,
each of whom is financially literate and at least one of whom has accounting or related financial management expertise.

All members of our audit committee meet the requirements for independence
and financial literacy under the Nasdaq Listing Rules. Our board of directors has determined that each of Mr. Dan Falk and Mr. Nir Nimrodi
is furthermore an audit committee financial expert, as defined by the SEC rules, and has the requisite financial experience required under
the Nasdaq Listing Rules.

Each of the members of the audit committee is also “independent”
as required by, and as such term is defined in, Rule 10A-3(b)(1) under the Exchange Act, which is different from the general test for
independence of board and committee members under the Nasdaq Listing Rules.

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Audit Committee Role

Our board of directors (following the approval by our audit committee)
has adopted an audit committee