FormexS.A.

Manner of representation

In the case of a one-person management board, for making declarations of will and signing documents, the President of the Management Board represents the company independently when incurring a one-off liability up to PLN 300,000 (three hundred thousand złoty). If the company incurs a one-off liability exceeding PLN 300,000 (three hundred thousand złoty), joint action by the President of the Management Board with an attorney-in-fact or a commercial proxy, by two commercial proxies, or by a commercial proxy and an attorney-in-fact is required. If the total sum of liabilities incurred on account of guarantees and sureties granted, loans and borrowings incurred, bills of exchange issued, and pledges and mortgages established exceeds PLN 2,000,000 (two million złoty), the management board is obliged to notify the supervisory board.