Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 123

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 123
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 any other corporate entity
whose accounts are consolidated in our financial statements.

Directors

The minimum number of directors we must have is five
(5) and the maximum number is fifteen (15). In accordance with the CBCA, at least 25% of our directors must be residents of Canada. In
order to serve as a director, a person must be a natural person at least 18 years of age, of sound mind, not bankrupt, and must not be
prohibited by any court from holding the office of director. None of the Articles, the bylaws and the CBCA impose any mandatory retirement
requirements for directors.

The directors are elected by a majority of the votes
cast at the annual meeting at which an election of directors is required, to hold office until the election of their successors, except
in the case of resignations or if their offices become vacant by death or otherwise. Subject to the provisions of our bylaws, all directors
may, if still qualified to serve as directors, stand for re-election. The Board is not replaced at staggered intervals but is elected
annually.

There is no provision in our bylaws or Articles that
requires that a director must be a shareholder.

The directors are entitled to remuneration as shall
from time to time be determined by the Board or by a committee to which the Board may delegate the power to do so. Under the mandate
of the NGCC, such committee, comprised of at least a majority of independent directors, is tasked with making recommendations to the
Board concerning director remuneration. The directors are allowed to vote on and approve their own remuneration in the absence of an
independent quorum of directors.

The CBCA provides that a director who is a party
to, or who is a director or officer of, or has a material interest in, any person who is a party to a material contract or transaction
or proposed material contract or transaction with us must disclose to us the nature and extent of his or her interest at the time and
in the manner provided by the CBCA, or request that same be entered in the minutes of the meetings of the Board, even if such contract,
in connection with our normal business activity, does not require the approval of either the directors or the shareholders. At the request
of the president or any director, the director placed in a situation of conflict of interest must leave the meeting while the Board discusses
the matter. The CBCA prohibits such a director from voting on any