Company: JUPGF
Filing Date: 2025-11-12
Form Type: F-1/A
Source: 0001493152-25-021911
Chunk: 135

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-11-12
Form: F-1/A
Chunk 135
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Role of our Board of Directors in Risk Oversight

One
of the key functions of our Board of Directors is informed oversight of our risk management process. As described above, we have formed
supporting committees, including the Audit Committee, the Compensation Committee, and the Nominations and Corporate Governance Committee,
each of which supports the Board of Directors by addressing risks specific to its respective areas of oversight. In particular, our Audit
Committee has the responsibility to consider and discuss our major financial risk exposures and the steps our management takes to monitor
and control these exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken.
The Audit Committee also monitors compliance with legal and regulatory requirements, in addition to oversight of the performance of our
internal audit function. Our Compensation Committee assesses and monitors whether any of our compensation policies and programs has the
potential to encourage excessive risk-taking. Our Nominations and Corporate Governance Committee provides oversight with respect to corporate
governance and ethical conduct and monitors the effectiveness of our corporate governance guidelines, including whether such guidelines
are successful in preventing illegal or improper liability-creating conduct.

Committees of our Board of Directors

Our
Board of Directors has established three standing committees- the Audit Committee, the Compensation Committee, and the Nominations and
Corporate Governance Committee.

Audit Committee

Nasdaq
rules require that our Audit Committee be composed of at least three members all of whom are “independent directors” who
are “financially literate” as defined under the Nasdaq listing standards. While we established an Audit Committee, we
intend to utilize the phase-in provisions of Rule 5615(b) for the composition of the Audit Committee requirement so that the Company
has three Audit Committee members who are considered independent under the rules of the Nasdaq Stock Market.

The
Nasdaq listing standards define “financially literate” as being able to read and understand fundamental financial statements,
including a company’s balance sheet, income statement and cash flow statement. In addition, we are required to certify to Nasdaq
that the committee has, and will continue to have, at least one member who has past employment experience in finance or accounting, requisite
professional certification in accounting, or other comparable experience or background that results in the individual’s financial
sophistication. As of the date hereof, our Audit Committee was composed of the following two directors, all of whom have been
affirmatively determined by our Board of Directors to meet the definition of