ZLTsp. z o.o.

Manner of representation

For making declarations and signing on behalf of the company in matters within the scope of ordinary management, the President or Vice-President of the Management Board is authorized. Matters within the scope of ordinary management are deemed to be matters that result in the company undertaking obligations up to a value of PLN 20,000.00 (twenty thousand zloty), except that there is no limitation on the amount of obligations in respect of acquiring goods from ZLT A.S. KRNOV. For making declarations of will and signing on behalf of the company in matters outside the scope of ordinary management, the President of the Management Board is authorized to act independently, whereas in the case of the other members of the management board, joint representation by two persons is required, except that undertaking obligations connected with bringing goods into the Polish customs territory for the purpose of their sale, with a value exceeding twice the value of the company's share capital, does not require the consent of the shareholders' meeting.