Wipa Dwasp. z o.o.

Manner of representation

Where the management board is a multi-member body, each member of the management board is authorised independently, subject to the provisions below, to make declarations concerning pecuniary and non-pecuniary rights and obligations and to sign on behalf of the company. The President of the Management Board or another member of the management board may independently perform acts resulting in the disposal of a right or the incurring of an obligation to perform with a value not exceeding the equivalent of EUR 10,000. For acts resulting in the disposal of a right or the incurring of an obligation to perform with a value exceeding the equivalent of EUR 10,000 in Polish zloty but not exceeding the equivalent of EUR 20,000 in Polish zloty, joint action by two members of the management board or by a member of the management board jointly with a commercial proxy is required. Disposal of a right or incurring an obligation in an amount exceeding the equivalent of EUR 20,000 in Polish zloty requires a resolution of the partners’ meeting.