1. The Company shall select one or more auditor(s) nominated by the Board and approved by the General Assembly in accordance with terms and conditions required by Companies’ Law. 

2. The General Assembly has the authority to appoint or dismiss auditor. As an exception from Article (245.2) of the Companies Law, auditor shall be appointed for one renewable year, provided that auditor’s term shall not exceed six consecutive years and provided that the auditing partner shall be replaced at least after three years. Auditor shall commence the duties after the end of the meeting during which auditor is approved, until the end of next annual General Assembly. Such matter shall not be delegated to the Board. The General Assembly shall determine the auditor’s fees and such matter shall not be delegated to the Board.

3.The auditor shall submit to the Authority and the Board a report stating all the data required by articles (247) and (248) of the Companies’ Law. The auditor(s) is liable for the accuracy of the data in its report.