DMS Woodsp. z o.o.

Manner of representation

The company’s management board may be a one-person management board or a multi-member management board. The number of members of the management board is determined by the meeting of partners. In the case of a multi-member management board, each member of the management board is authorised independently to make declarations of will concerning the company’s proprietary rights and obligations and to sign agreements and incur obligations on behalf of the company in matters of ordinary management. In matters exceeding ordinary management, joint action of two members of the management board or of a member of the management board and a commercial proxy is required. Matters of ordinary management are deemed to be those which do not involve disposing of the company’s assets or incurring obligations in excess of PLN 500,000 (five hundred thousand zloty) net, i.e. excluding VAT. The above method of representation does not preclude the appointment of a one-person (independent) or joint commercial proxy and does not restrict the rights of commercial proxies arising from the provisions on commercial proxy.