Lowell Farms Inc. 10-K Cybersecurity GRC - 2024-03-28

Page last updated on July 16, 2024

Lowell Farms Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-28 09:29:14 EDT.

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10-K filed on 2024-03-28

Lowell Farms Inc. filed a 10-K at 2024-03-28 09:29:14 EDT
Accession Number: 0001654954-24-003785

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Item 1C. Cybersecurity.

ITEM 1C. Cybersecurity Risk management and strategy We depend on our information technology to conduct our business operations. This technology is predominantly operated on third-party platforms and services. Our business servers are owned and managed by an experienced third-party provider that addresses issues promptly in the event of a cybersecurity threat or incident. We have tailored our business applications and hosting services to reduce the impact of cybersecurity incidents. We utilize the Google Cloud Suite for email, office documents, and communication. Our ERP and Financial System operate on RDP and SQL server, which are backed up nightly through a SQL backup. All our servers are backed up to tape and transferred off-site every night. Our third-party provider has the necessary tools to restore and clone servers in a timely manner. Our strategy to mitigate cybersecurity risks includes monitoring and detection efforts, and the deployment of the anti-malware application ESET on all workstations and servers. The management of our Anti-Virus and Anti-Malware is performed by an experienced third party provider. Regarding third parties that manage or utilize our information technology or data, we conduct continuous monitoring of all third-party providers to ensure they adhere to our cybersecurity standards. To date, we have not experienced cybersecurity threats or incidents that have significantly impacted our business. Governance Our Board of Directors delegates the responsibility for cybersecurity oversight to the Audit Committee and our VP of Integration and IT Operations, who also manages our general technology risk. Our VP of Integration and IT Operations collaborates closely with our information technology partners to pinpoint new risks and evaluate our risk management framework. This team includes employees familiar with our products and systems who also possess experience in managing cybersecurity risks. The VP of Integration and IT Operations regularly updates the Audit Committee on cybersecurity-related risks. Our incident response plan involves informing the Management Team and then the Board of Directors about any substantial threats or incidents that occur.

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