Hiberus Polandsp. z o.o.

Manner of representation

1. If the management board: A) consists of one person – the company shall be represented by the sole member of the management board acting independently; B) consists of two or more persons – subject to point 2 below, in all non-property matters and property matters with a value of PLN 500,000 or less, the company shall be represented by any two members of the management board. In all other property matters, the company shall be represented by one member of the management board from the investor group and one member of the management board from the group of existing partners acting jointly. Once the group of existing partners holds 20% or less of the shares in the company's share capital, the company shall be represented in non-property matters and property matters by any two members of the management board acting jointly. 2. The value of the transaction referred to in point 1 above shall be calculated: (i) with respect to one-off transactions – as the value of that transaction; (ii) with respect to transactions providing for periodic performance for a definite period – as the value of that transaction (performances) for the entire performance period; (iii) with respect to transactions providing for periodic performance for an indefinite period – as the value of that transaction (performances) for a period of one year or, if the notice period for such transaction is longer than one year, for the notice period; and in each case subject to the proviso that all amounts expressed in currencies other than the Polish złoty shall, for the purposes of calculating the above materiality threshold, be converted according to the relevant average exchange rates of the National Bank of Poland published on the day preceding the performance of the transaction in question.