Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 117

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 117
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 to plan or to conduct audits or to determine that our financial statements are
complete, accurate and in accordance with generally accepted accounting principles, nor to maintain internal controls and procedures.

The current members of the Audit Committee are Mr.
Pierre Labbé (Chair), Ms. Genevieve Foster, and Mr. Ulrich Kosciessa. In accordance with Nasdaq rules applicable to foreign private
issuers, all members of the Audit Committee satisfy the independence standards under Rule 10A-3 of the Securities Exchange Act of 1934,
as amended. Our Board has determined that Mr. Labbé is the financial expert (as defined in paragraph (b) of Item 16A to Form 20-F).

NGCC

The compensation of executive officers of the Corporation
and its subsidiaries is recommended to the Board by the NGCC. The NGCC is responsible for, among other matters, (i) assisting the Board
in developing our approach to corporate governance issues, (ii) proposing new Board nominees, (iii) overseeing the assessment of the
effectiveness of the Board and its committees, their respective chairs and individual directors and (iv) making recommendations to the
Board with respect to board member nominees and directors’ compensation, as well as serving in a leadership role for our corporate
governance practices. It is also responsible for taking all reasonable actions to ensure that appropriate human resources policies, procedures
and systems, e. g., recruitment and retention policies, competency and performance metrics and measurements, training and development
programs, and market-based, competitive compensation and benefits structures, are in place so that we can attract, motivate and retain
the quality of personnel required to achieve our business objectives. The NGCC also assists the Board in discharging its responsibilities
relating to the recruitment, retention, development, assessment, compensation and succession planning for our executive and senior management
members.

Thus, the NGCC recommends the appointment of senior
officers, including the terms and conditions of their appointment and termination, and reviews the evaluation of the performance of our
senior officers, including recommending their compensation and overseeing risk identification and management in relation to executive
compensation policies and practices. The Board, which includes the members of the NGCC, reviews the Chief Executive Officer’s corporate
strategy, goals and performance objectives and evaluates and measures his or her performance and compensation against the achievement
of such goals and objectives.

The NGCC recognizes that the industry, regulatory
and competitive environment in which we operate requires a balanced level of risk-taking