Dawne Podhalesp. z o.o.

Manner of representation

In the case of a one-person management board, the sole member of the management board is authorised to represent the company independently. In the case of a multi-member management board, the rules for representing the company are determined as follows: 1. To submit a declaration of will in non-property matters and, in property matters, to submit a declaration of will up to a value of PLN 12,000.00 (twelve thousand zlotys), or, in the case of concluding multiple agreements with the same entity or periodic performances, in respect of all agreements with a given entity or an agreement with a given entity or an agreement providing for periodic performances, jointly up to a value of 60,000.00 (sixty thousand zlotys) per year, it is sufficient for the declaration of will to be submitted by the President of the Management Board, the Vice-President or a member of the management board independently; 2. In other cases, in property matters where the value of the declaration or declarations of will exceeds the threshold indicated in point 1 above, a declaration must be submitted by the President of the Management Board or the Vice-President of the Management Board together with a member of the management board or with a commercial proxy, or a declaration of will must be submitted by a member of the management board independently.