Company: KAVL
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001731122-25-001359
Chunk: 20

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 20
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 in the U.S., and reviewed significant accounting and disclosure issues with the Committee. These reviews included discussions
with the independent auditors of matters required to be discussed pursuant to Public Company Accounting Oversight Board (“PCAOB”)
Auditing Standard No. 1301 (Communication with Audit Committees), including the quality (not merely the acceptability) of the Company’s
accounting principles, the reasonableness of significant judgments, the clarity of disclosures in the financial statements and disclosures
related to critical accounting practices. The Committee has also discussed with RBSM matters relating to their respective independence,
including a review of audit and non-audit fees and the written disclosures and letter received from RBSM required by applicable requirements
of the Public Company Accounting Oversight Board (“PCAOB”) regarding their respective communications with the Committee concerning
independence. The Committee also considered whether non-audit services provided by the independent auditors are compatible with the independent
auditors’ independence. The Committee also received regular updates, and written summaries as required by the PCAOB rules (for tax
and other services), on the amount of fees and scope of audit, audit-related, tax and other services provided.

In addition, the Committee reviewed key initiatives
and programs aimed at strengthening the effectiveness of the Company’s internal and disclosure control structure. As part of this
process, the Committee continued to monitor the scope and adequacy of the Company’s internal auditing program, reviewing staffing
levels and steps taken to implement recommended improvements in internal procedures and controls. The Committee also reviews and discusses
legal and compliance matters with management, and, as necessary or advisable, the Company’s independent auditors.

Audit Committee Recommendation: Based on the
Committee’s discussions with management and the independent auditors and the Committee’s review of the representations of
management and the report of the independent auditors to the Board and stockholders, and subject to the limitations on the Committee’s
role and responsibilities referred to above and in the Audit Committee Charter, the Committee recommended to the Board that it include
the audited consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31,
2024 for filing with the SEC.

This report has been furnished by the members of the Audit Committee:

David Worner, Chairman

Ashesh Modi

Ketankumar Patel

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BOARD DIVERSITY MATRIX</div>

Stockholder Nominations

For nominations or other business to be properly brought
before an annual meeting by