ASMGsp. z o.o.

Manner of representation

1. The right of a member of the management board to conduct the affairs of the company and represent it covers all judicial and extrajudicial acts. 2. Each member of the management board is entitled to make declarations on behalf of the company independently, subject to points 3 and 4. 3. The President of the Management Board is entitled to represent the company in disposal or obligation-creating legal acts concerning assets whose value exceeds PLN 150,000 (one hundred and fifty thousand zlotys) gross, or the equivalent of that amount in a foreign currency converted according to the last average exchange rate of the National Bank of Poland preceding the date of the legal act. In the case of continuing obligations, the sum of obligations over the entire obligation relationship, but no longer than for the first 12 months, is taken into account. The remaining members of the management board are entitled to do so jointly with another member of the management board or with a commercial proxy. 4. In matters related to the employment relationship of persons who are not members of the company’s management board, the company is represented by the President of the Management Board or a person authorised by the President to perform such acts.