Audit Committee

Genovate established the Audit Committee in June 2017. The Audit Committee is responsible for the following duties and shall submit its recommendations to the Board of Directors for discussion:

1. Formulating or amending internal control systems in accordance with Article 14-1 of the Securities and Exchange Act.

2. Assessing the effectiveness of internal control systems.

3. Establishing or amending procedures for significant financial transactions involving acquisition or disposal of assets, derivative transactions, loans of funds to others, endorsement for others, or provision of guarantees in accordance with Article 36-1 of the Securities and Exchange Act.

4. Matters involving conflicts of interest of directors themselves.

5. Significant asset or derivative transactions.

6. Significant loans of funds, endorsements, or guarantees.

7. Offering, issuance, or private placement of equity securities.

8. Appointment, dismissal, or compensation of chartered public accountants (CPA).

9. Appointment or removal of heads of finance, accounting, or internal audit.

10. Quarterly and annual financial reports.

11. Other significant matters as required by other companies or competent authorities.

Please refer to Genovate Annual Report for the relevant year for the number of meetings convened and each member’s attendance rate.

Remuneration Committee

The Board of Directors has established the Remuneration Committee in accordance with the Securities and Exchange Act of the Republic of China. As per the regulations, the Remuneration Committee must include at least one independent director as defined by the Securities and Exchange Act. The Remuneration Committee currently consists of three members, all of whom are independent directors.

In accordance with the organizational regulations approved by the Board of Directors, the Remuneration Committee is responsible for establishing and reviewing policies, systems, standards, and structures related to the evaluation of the performance and compensation of directors and executives. The committee also evaluates the remuneration of directors and executives.

The Remuneration Committee convenes regular meetings at least twice a year.

Please refer to Genovate Annual Report for the relevant year for the number of meetings convened and each member’s attendance rate.