GENELUX Corp

Risk management and strategy

We have implemented and maintain various information security processes designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third-party hosted services, communications systems, hardware and software, and our critical data, including intellectual property, confidential information that is proprietary, strategic or competitive in nature, and clinical trial data (Information Systems and Data).

We engage an external information technology company to operate information technology systems for us. This vendor works with us, including our general counsel, to help identify, assess and manage our cybersecurity threats and risks. This group works to identify and assess risks from cybersecurity threats by monitoring and evaluating our threat environment using various methods, including, for example: manual and automated tools, subscribing to reports and services that identify cybersecurity threats, analyzing reports of threats and actors, evaluating threats reported to us, conducting vulnerability assessments, evaluating our and our industry’s risk profile, and conducting third-party threat assessments.

Depending on the environment, we implement and maintain various technical, physical, and organizational measures, processes, standards and policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data, including, for example: an incident response plan, a vulnerability management policy, disaster recovery and business continuity plans, risk assessments, implementation of security standards or certifications, encryption of certain data, network security controls and data segregation (for certain systems), physical security, asset management, tracking and disposal, systems monitoring, employee training, and cybersecurity insurance.

Our assessment and management of material risks from cybersecurity threats areintegrated into our overall risk management processes. Cybersecurity risk is addressed as a component of the our enterprise risk management program and senior management prioritizes our risk management processes and reports to the Audit Committee of the Board of Directors, which evaluates our overall enterprise risk.

We usethird-party service providers to assist us from time to time to identify, assess, and manage material risks from cybersecurity threats, including, for example managed cybersecurity service providers and professional services firms (including legal counsel).

We also use third-party service providers to perform a variety of other functions throughout our business, such as application providers, hosting companies, contract research organizations, contract manufacturing organizations, and distributors. We have a vendor management program to manage cybersecurity risks associated with our use of these providers. The program may include, depending on the provider, a security questionnaire, security audit, a risk assessment for certain vendors, and imposition of information security contractual obligations on certain vendors.

For a description of the risks from cybersecurity threats that maymaterially affect the Company and how they may do so, see our risk factors under Part 1. Item 1A. Risk Factors in this Annual Report on Form 10-K, including “If our information technology systems or those third parties with whom we work or our data are or were compromised, we could experience adverse consequences resulting from such compromise, including but not limited to regulatory investigations or actions; litigation; fines and penalties; disruptions of our business operations; reputational harm; loss of revenue or profits; loss of customers or sales; and other adverse consequences.”

Governance

Our Board of Directors addresses our risk management as part of its general oversight function. The Audit Committee is responsible for overseeing our cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats.

Our cybersecurity risk assessment and management processes areimplemented and maintained by our Cybersecurity Risk Management Team, which includes our General Counsel and an external information technology vendor.

Our Chief Executive Officer is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. Our Cybersecurity Risk Management Team is responsible for developing budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports.

Our cybersecurity incident response and vulnerability management processes are designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including our General Counsel, and CEO. Our General Counsel and CEO work with the Company’s Incident Response Team to help the Company triage, contain, mitigate and remediate cybersecurity incidents of which they are notified. In addition, the Company’s incident response and vulnerability management processes include reporting to the Audit Committee for certain cybersecurity incidents.

The Board of Directors and Audit Committee receive regular reports from the Company’s Cybersecurity Risk Management Team concerning the Company’s significant cybersecurity threats and risk and the processes the Company has implemented to address them. The Board of Directors and Audit Committee also receive various reports, summaries and presentations related to cybersecurity threats, risk and mitigation.