Arthouse Developmentsp. z o.o.

Manner of representation

1. Declarations of will and signing on behalf of the company may be made by: 1) in the case of a one-person management board – the President of the Management Board independently; 2) in the case of a multi-member management board: a) the President of the Management Board acting independently, or the Vice-President acting jointly with the President of the Management Board, or the Vice-President acting jointly with a commercial proxy; b) two members of the management board or one member of the management board jointly with a commercial proxy. 2. Irrespective of the number of appointed members of the management board, if a commercial proxy is established: a) an independent commercial proxy is entitled to independently perform all judicial and extrajudicial acts connected with the company’s activity, including granting further powers of attorney; b) a joint commercial proxy is entitled to perform all judicial and extrajudicial acts connected with the company’s activity, including granting further powers of attorney, jointly with a member of the management board or jointly with another commercial proxy.