Company: FECOF
Filing Date: 2025-07-15
Form Type: 20-F
Source: 0001477932-25-005053
Chunk: 58

Company: FEC Resources Inc.
Filing Date: 2025-07-15
Form: 20-F
Item: Item 16A
Chunk 58
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ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT

The Audit Committee is responsible for reviewing our financial reporting procedures, internal controls, and the performance of our auditors. The Audit Committee is also responsible for reviewing all disclosure with respect to financial matters prior to filing or release and quarterly and annual Financial Statements prior to their approval by the full Board. Members of the Audit Committee in 2024 were Daniel Carlos, Claro Ramirez, and Paul Wallace. New members of our Audit Committee for 2025 will be appointed following our Annual and General Meeting of Shareholders.

Our Board has determined that it has at least one (1) financial expert serving on its Audit Committee. This individual is Paul Wallace. Mr. Wallace is a Chartered Professional Accountant and has significant experience in the review of financial statements and related information.

Mr. Wallace would be regarded as “independent” per Rule 5605(a)(2) of the Nasdaq Stock Market Rules, since he has not been employed by the Company as an Executive Officer during the past three (3) years.

ITEM 16 B: CODE OF ETHICS.