4.4 BORA Governance Council Operational Process

Since BORA GC will be run by diversified companies together, with each of them having different needs and backgrounds, every BORA GC Partner will have voting rights. These rights can be as a means to express an opinion on an agenda related to the operation and development of BORA Platform as a Partner of BORA GC.

Voting rights can be exercised by voting for the items proposed at the regular or ad hoc meeting. One vote per BORA GC Partner is granted for each of the agenda items.

BORA GC Partners who have an agenda that they would like to formally address to discuss at the regular/ad hoc meeting should propose to the committee head to make a committee representative proposal. The committee head goes through the process of collecting opinions on the relevant agenda in the committee and decides whether to make the representative proposal at the regular/ad hoc meeting. If the committee head decides to propose the representative proposal, the content and the basis of the proposal along with the committee members’ opinion should be organized and submitted in writing to the Chairpartner before the regular or ad hoc meeting is held.

The Chairpartner places the submitted representative proposal as the official agenda of the regular or ad hoc meeting, whichever arrives soonest. After that, the Chairpartner puts it through a vote.

In the case of agendas approved at regular or ad hoc meetings, the Chairpartner is responsible for implementing the issues included in the agenda. At this time, the implementation procedure for BORA Platform is carried out as follows according to the type of the agenda.

• Core update: This is a type of agenda that proposes to update the BORA Platform core code. Under the leadership of the Chairpartner with GC Partners, a detailed application plan related to the hard fork is established and reflected in the core according to the set hard fork schedule.

• Other general updates: This is a type of agenda where there are no elements to be implemented on-chain among the approved agenda items. This type only requires the process of announcing the agenda’s official approval by BORANETWORK, through the BORA official community channels.