PASHA_BANK_ANNUAL REPORT 2022

56 PASHA Bank 2022 Annual Report The Credit Committee, Audit Committee, Corporate Governance Committee, Human Resources Committee, Nomination and Remuneration Committee, Strategy and Budget Committee, and Risk Management Committee were established under the Board of Directors while fulfilling its duties and responsibilities, to take decisions in their own areas of responsibility in accordance with the powers granted by the Board of Directors, and to carry out the supervision and audit of the Bank’s policies, processes, and practices on behalf of the Board of Directors. The duties and members of the committees are determined by the Board and announced to the public on the PASHA Bank corporate website as well as in its Annual Report. Information on the committees set up under the Board of Directors is provided below. The Committees of the Board have carried out activities effectively and in full conformity with laws, and documented and kept the records of all activities they conducted in the fiscal period. Audit Committee The Audit Committee was established to supervise on behalf of the Board of Directors the effectiveness and adequacy of the internal systems of the Bank; the operation of these systems, and the accounting and reporting systems within the framework of the Law and related regulations, and the reliability and integrity of the information produced; to establish the audit and control process that will guarantee ICAAP’s adequacy and accuracy; to make the necessary preliminary evaluations in the selection by the Board of Directors of independent auditing firms and rating, appraisal and support service organizations; to monitor regularly the activities of the institutions selected and contracted by the Board; to ensure the maintenance and coordination of the internal audit activities in a consolidated manner of the subsidiaries subject to consolidation pursuant to related legislation; and to fulfil the duties specified within the Banking and Capital Markets regulations. Listed below is the current composition of the Audit Committee: Name-Surname Committee Position Furkan Evranos Chairperson Kamala Nuriyeva Member The Audit Committee convenes as required by business needs, and at least quarterly. Board of Directors’ Evaluation of Committee Effectiveness The structure, duties, powers and responsibilities of the Audit Committee have been determined in accordance with the provisions of the Regulation on Internal Systems and the Internal Capital Adequacy Assessment Process of Banks which was published in the Official Gazette No. 29057 dated 11 July 2014 and other Information on the Activities of the Board of Directors and the Committees Meetings Attended / Meetings Held Board Members Independence Status Board of Directors Audit Committee Risk Management Committee Strategy and Budget Committee Corporate Governance Committee HR Committee Nomination and Remuneration Committee Jalal Gasimov 8/11 3/3 Farid Mammadov 10/11 07/11 4/6 4/4 3/3 Shahin Mammadov 11/11 6/6 2/2 3/4 Javid Guliyev 8/11 Kamala Nuriyeva 10/11 14/14 10/11 Ebru Oğan Knottnerus + 11/11 11/11 Nuri Tuncalı + 11/11 Furkan Evranos + 11/11 14/14 2/2 H. Cenk Eynehan 11/11 6/6 4/4 3/3 Average Attendance Rate 92% 100% 85% 89% 100% 92% 100%