Ocean One Holding Ltd. (Stock Code: 9876) revised and adopted new Terms of Reference for its Audit Committee on 30 October 2025, effective 3 November 2025. The Committee was originally established on 21 September 2017. According to the revised details, its primary purpose is to oversee financial reporting integrity, monitor internal control and risk management procedures, assess the external auditor’s qualifications and independence, and facilitate effective communication among directors, internal auditors, and external auditors.

The updated Terms of Reference require the Committee to be composed solely of non-executive directors, with a majority, including the chairman, being independent non-executive directors. At least one member must have professional qualifications in accounting or related financial expertise. A former partner of the Company’s current auditing firm is barred from serving on the Committee for two years after leaving the firm or relinquishing any financial interest therein.

The announcement specifies that the Committee will meet at least four times a year, with additional meetings convened as needed. At least two sessions will be held with the external auditor to review audit processes and address any related concerns. The Committee is authorized to investigate matters within its scope, request pertinent information from employees, and seek external professional advice if necessary. The responsibilities detailed in the Terms of Reference include examining the Company’s financial statements, reviewing internal and external audit findings, and ensuring the Company’s risk management systems function effectively. The Board will allocate sufficient resources to support the Committee’s work, and meeting results will be reported directly to the Board for timely review and action.