Pomorska Energetyka Odnawialnasp. z o.o.

Manner of representation

In the case of a multi-member management board, each member of the management board is authorized to submit declarations of will, including declarations of will concerning the assumption of obligations up to an amount not exceeding PLN 10,000.00, on behalf of the company independently, with the exception of acts concerning: a) contracts for the sale, lease, tenancy, leasing or lending for use of movable and immovable property; b) loans and borrowings; c) the purchase or sale of wind farm projects, irrespective of their stage of advancement; d) the granting of sureties, guarantees, deposits and other security; e) employing employees; f) concluding contracts of mandate. Each member of the management board is independently authorized to conclude preliminary tenancy agreements or tenancy agreements for immovable property concerning wind farm projects. In the case of a multi-member management board, the following are authorized to submit declarations of will, including declarations of will concerning the assumption of obligations in an amount exceeding PLN 10,000.00, and to perform the acts listed in point 2(a) to (f): the President of the Management Board together with a member of the management board, or a commercial proxy together with a member of the management board.