{"url_path":"/sec/jxg/10-k/2026/item-15","section_key":"item-15","section_title":"Item 15 CONTROLS AND PROCEDURES**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1546383/0001213900-26-057231-index.html","accession_number":"0001213900-26-057231","cik":"0001546383","ticker":"JXG","issuer_name":"JX Luxventure Group Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1546383/0001213900-26-057231-index.html","primary_entity_key":"0001546383","primary_entity_name":"JX Luxventure Group Inc."},"word_count":748,"has_tables":true,"body_markdown":"**ITEM 15. CONTROLS AND PROCEDURES**\n\n \n\n**A. Disclosure Controls and Procedures**\n\n \n\nOur management, with the participation of our\nCEO and CFO, has evaluated the effectiveness of the Company’s disclosure controls and procedures, as defined in Rule 13a-15(e) and\n15d-15(e) of the Exchange Act, as of December 31, 2025.\n\n \n\nThe term “disclosure controls and procedures”\nas defined in Rules 13a-15(e) and 15d-15(e) means controls and other procedures of the Company that are designed to ensure that information\nrequired to be disclosed by a company in reports, such as this report, that it files or submits under the Exchange Act is recorded, processed,\nsummarized and reported within the time periods specified in the SEC rules and forms. Disclosure controls and procedures include, without\nlimitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files\nor submits under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive\nand principal financial officers, as appropriate to allow timely decisions regarding required disclosure. Management recognizes that any\ncontrols and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives,\nand management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures.\n\n \n\nBased on that evaluation, our CEO and interim\nCFO concluded that our disclosure controls and procedures were not effective as of December 31, 2025, due to a material weakness in our\ninternal control over financial reporting. Specifically, we currently lack sufficient accounting personnel with the appropriate level\nof knowledge, experience and training in IFRS and SEC reporting requirements.\n\n \n\n**B. Management’s Annual Report on Internal\nControl Over Financial Reporting**\n\n \n\nOur management is responsible for establishing\nand maintaining adequate internal control over financial reporting. Our internal control over financial reporting is designed to provide\nreasonable assurances regarding the reliability of financial reporting and the preparation of our consolidated financial statements in\naccordance with IFRS. Our accounting policies and internal controls over financial reporting, established and maintained by management,\nare under the general oversight of the Board’s audit committee.\n\n \n\nOur internal control over financial reporting\nincludes those policies and procedures that:\n\n \n\n \n●\npertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;\n\n \n\n \n●\nprovide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with IFRS, and that receipts and expenditures are being made only in accordance with authorizations of our management and directors; and\n\n \n\n \n●\nprovide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets that could have a material effect on the financial statements.\n\n \n\n114\n\n \n\n \n\nBecause of its inherent limitations, internal\ncontrol over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future\nperiods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree or compliance\nwith the policies or procedures may deteriorate.\n\n \n\nManagement assessed our internal control over\nfinancial reporting as of December 31, 2025.The standard measures adopted by management in making its evaluation are the measures in the\nInternal-Control Integrated Framework published by the Committee of Sponsoring Organizations of the Treadway Commission.\n\n \n\nBased on management’s assessment using the\nCOSO criteria, our CEO and CFO concluded that our internal control over financial reporting as of December 31, 2025 was ineffective. We\nhave taken, and are taking, certain actions to remediate the material weakness related to our lack of IFRS and SEC reporting experience.\nWe engaged a consultant with IFRS knowledge and experience to supplement our current internal accounting personnel and assist us in the\npreparation of our financial statements to ensure that our financial statements are prepared in accordance with IFRS.\n\n \n\nThe Company continues to make efforts to implementing\nour existing and newly adopted procedures to improve our disclosure controls and internal controls over financing reporting.\n\n \n\n**C. Attestation Report of the Registered Public\nAccounting Firm**\n\n \n\nBecause the Company is a non-accelerated filer,\nthis annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial\nreporting.\n\n \n\n**D. Changes in Internal Controls over Financial\nReporting**\n\n \n\nOther than discussed above, there has been no\nchange to our internal control over financial reporting that occurred during the period covered by this annual report on Form 20-F that\nhas materially affected, or is reasonably likely to materially affect, our internal control over financial reporting."}