Company: KAVL
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001731122-25-001359
Chunk: 18

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 18
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 Board. As noted in the director biographies, our directors have experience, qualifications
and skills across a wide range of public and private companies, possessing a broad spectrum of experience both individually and collectively.

There are no arrangements or understanding between
any of the directors or the director nominee or officers of our Company or any other person pursuant to which any officer or director
or director nominee was or is to be selected as an officer or director or director nominee.

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AUDIT COMMITTEE REPORT</div>

The Audit Committee:The members of the Audit
Committee (for purposes of this report, the “Committee”) are Messrs. David Worner, who serves as Chairman, Ashesh Modi and
Ketankumar Patel. The Board has determined that all of the members of the Committee are independent within the meaning of applicable SEC
regulations and the listing standards of the Nasdaq and that David Worner, the Chair of the Committee, is qualified as an audit committee
financial expert within the meaning of SEC regulations. The Board has also determined that Mr. Worner has accounting and related financial
management expertise within the meaning of the listing standards of the Nasdaq and that each member of the Committee is financially literate
within the meaning of the Nasdaq listing standards.

Audit Committee Charter: The Audit Committee
operates under a written charter adopted by the Board. The charter is reviewed by management at least annually, and any recommended changes
are presented to the Committee for review and approval.

Audit Committee Responsibilities:The Committee
assists the Board in fulfilling its responsibilities for general oversight of the integrity of the Company’s financial statements,
the adequacy of the Company’s system of internal controls and procedures and disclosure controls and procedures, the Company’s
risk management, the Company’s compliance with legal and regulatory requirements, the independent auditors’ qualifications
and independence and the performance of the Company’s internal audit function and independent auditors. The Committee has the authority
to obtain advice and assistance from outside legal, accounting or other advisors as the Committee deems necessary to carry out its duties
and receive appropriate funding, as determined by the Committee, from the Company for such advice and assistance.

The Committee has sole authority over the selection
of the Company’s independent auditors and manages the Company’s relationship with its independent auditors (who report directly
to the Committee). Each year, the Committee evaluates the performance, qualifications and independence of the independent auditors. The
Committee is also involved in the selection of the lead