PCF Group Supervisory Board and Audit Committee Activity Report 2022

The 2022 fiscal year for PCF Group S.A. was defined by a strategic focus on strengthening corporate governance and formalizing internal oversight mechanisms. Throughout the period, the Supervisory Board and Audit Committee maintained rigorous oversight of financial reporting, auditor independence, and profit distribution. Despite personnel changes within the Board, the company successfully maintained a balance of independent members and high attendance rates across its twenty-six resolutions and multiple committee meetings. These activities ensured that the Management Board remained in full compliance with information disclosure obligations and the Best Practices of GPW-listed companies.

A primary finding of the year’s assessment was the need to evolve the company’s internal control environment. While existing systems were deemed effective, the absence of formalized compliance and risk management reports led to the establishment of a dedicated internal audit function effective January 1, 2023. This new unit, led by an appointed internal auditor, marks a transition toward more structured risk management, though recommendations remain in place to eventually separate this role from other executive integration duties to ensure maximum independence.

The scope of these activities covers the entirety of the PCF Group’s operations during the 2022 calendar year. Financial and operational reviews confirmed that the Group did not engage in any sponsoring or charitable activities, nor did it incur expenses related to the support of culture, sports, or social organizations during this timeframe. Ultimately, the governance structures in place provided a stable foundation for the company’s financial integrity as it moved toward a more formalized internal audit framework for the subsequent year.