Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 116

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 116
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atory change represents the
change in the pension liability between December 31, 2023, and 2024 for each Named Executive Officer.

(5) The calculations of reported amounts
use the same actuarial assumptions and methods that are used for calculating accrued benefit obligations and annual expenses, as disclosed
in the Company’s 2024 and 2023 consolidated financial statements in Note 15, and as prescribed by IFRS. The methods and assumptions
used to determine estimated amounts will not be identical to the methods and assumptions used by other issuers so, as a result, the figures
may not be directly comparable across issuers. All amounts shown above are based on assumptions and represent contractual entitlements
that may change over time.

  Board practices  
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Our Articles provide that our Board shall be composed
of a minimum of five (5) and a maximum of fifteen (15) directors. Directors are elected annually by our shareholders, but the directors
may from time to time appoint one or more directors, provided that the total number of directors so appointed does not exceed one-third
of the number of directors elected at the last annual meeting of shareholders. Each elected director will remain in office until termination
of the next annual meeting of the shareholders or until his or her successor is duly elected or appointed, unless his or her post is
vacated earlier. We do not have service agreements with our independent directors.

See Item 6A. for information about the period of
service of each of our directors and senior corporate officers.

Standing Committees of the Board of Directors

Our Board has established an Audit Committee and
a NGCC.

  80  

Audit Committee

The Audit Committee assists the Board in fulfilling
its oversight responsibilities. The Audit Committee reviews the financial reporting process, the system of internal control, the audit
process, and our process for monitoring compliance with laws and regulations and with our Code of Ethical Conduct. In performing its
duties, the Audit Committee will maintain effective working relationships with the Board, management, and the external auditors. To effectively
perform his or her role, each committee member will obtain an understanding of the detailed responsibilities of committee membership
as well as our business, operations and risks.

The function of the Audit Committee is oversight
and while it has the responsibilities and powers set forth in its charter (incorporated by reference to Exhibit 11.3 to this Annual Report
on Form 20-F), it is neither the duty of the committee