Company: WKSP
Filing Date: 2025-10-20
Form Type: PRE 14A
Source: 0001493152-25-018681
Chunk: 21

Company: Worksport Ltd
Filing Date: 2025-10-20
Form: PRE 14A
Chunk 21
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” with the SEC and is not to be incorporated by reference into any other of the Company’s filings under the Securities Act or the Exchange Act, except to the extent we specifically incorporate this report by reference therein.

The Audit Committee is comprised of three non-management directors, each of whom is independent as that term is defined in the rules of Nasdaq and satisfies the audit committee independence standard under Rule 10A-3(b)(1) of the Exchange Act.

The Audit Committee operates under a written Audit Committee charter that was approved by the Audit Committee and the Board. The Audit Committee held [*] meetings during 2025.

The Audit Committee has reviewed and discussed with the management of Lumsden & McCormick, LLP the independent registered public accounting firm for the Company, the audited financial statements of the Company for the year ended December 31, 2024. The Audit Committee has discussed with Lumsden & McCormick, LLP, the matters required to be discussed by Auditing Standard No. 1301, “Communications with Audit Committees” issued by the Public Company Accounting Oversight Board, as in effect on the date of this Proxy Statement.

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Lumsden & McCormick, LLP provided to the Audit Committee the written disclosures and the letter required by the applicable requirements of the Public Company Accounting Oversight Board regarding the independent accountant’s communication with the Audit Committee concerning independence, and the Audit Committee discussed with Lumsden & McCormick, LLP the latter’s independence, including whether its provision of non-audit services compromised such independence.

Based on the reviews and discussions described above, the Audit Committee recommended to the Board that the audited consolidated financial statements be included in our Annual Report on Form 10-K for the year ended December 31, 2024, for filing with the SEC.

Submitted by the Members of the Audit Committee,

Craig Loverock (Chairperson)

William Caragol

Ned L. Siegel

<div align='center'>EXECUTIVE COMPENSATION</div>

The following summary compensation table sets forth all compensation awarded to, earned by, or paid to the named executive officer during the years ended December 31, 2024 and 2023 in all capacities for the account of our principal executive officer.

<div align='center'>Summary Compensation Table</div>

| Name and Position                                
 Steven Rossi, Chief Executive Officer, President |     | Fiscal Year  
 Ended        
 December 31, | 2024 |     | Salary 
 ($)    | 348,246 | (1)(2