Silesia Moto Systemsp. z o.o.

Manner of representation

The company may be represented and declarations of will may be made on its behalf: A) in the case of a one-person management board, by the President of the Management Board independently; B) in the case of a multi-member management board, each member of the management board is authorised to act independently exclusively where the value of the obligating, disposing, obligating-disposing or securing transaction does not exceed PLN 50,000.00 (fifty thousand zloty) or its equivalent expressed in a foreign currency according to the average exchange rate announced by the National Bank of Poland on the day on which the transaction was performed; in all other cases (i.e. above that amount or its equivalent), joint action is required by 2 (two) members of the management board, or by 1 (one) member of the management board jointly with a commercial proxy, or by 2 (two) commercial proxies acting jointly; C) by a sole commercial proxy independently.