Holding 1S.A.

Manner of representation

1. If the company has a multi-member management board, each member of the management board acting independently is authorised to make declarations of will on behalf of the company, conclude agreements and incur obligations, represent the company before courts and all administrative authorities, public authorities and other entities. 2. If the company is a partner in a partnership, each member of the management board acting independently is authorised to make declarations of will on behalf of the represented company, conclude agreements and incur obligations, and act on behalf of the represented company before courts and all administrative authorities, public authorities and other entities, subject to section 3. 3. To act on behalf of the represented partnership at meetings of partners, meetings of shareholders or general meetings of shareholders adopting resolutions on: amendments to partnership agreements and articles of association; appointment and dismissal of members of the bodies of companies; transformations, mergers and divisions of companies; matters concerning the liability of members of the bodies of companies; disposal of, encumbrance of, or establishment of a right in rem over, the company’s enterprise; matters within the competence of an ordinary meeting of partners or ordinary general meeting, including approval of the financial statements, adoption of a resolution on the distribution of profit and granting discharge–the company is represented by two members of the management board acting jointly, or by the sole member of the management board in the case of a one-person management board. 4. The reservation referred to in section 3 concerning representation of the company at meetings of partners, meetings of shareholders or general meetings of shareholders also applies where the company is a direct partner in a partnership.