WPM Ostródzkasp. z o.o.

Manner of representation

In the case of a one-person management board, the President of the Management Board is authorised to make declarations concerning the company’s rights and obligations on behalf of the company. In the case of a two-person management board, the company is represented: (I) in the case of incurring obligations or disposing of rights whose value does not exceed PLN 100,000.00 (one hundred thousand złoty) in a single transaction, or the equivalent of this amount in any foreign currency, and in the case of continuous obligations and several obligations incurred in relation to the same entity, provided that the value of these obligations during a period of 12 months does not exceed PLN 100,000.00 (one hundred thousand złoty), and additionally in every act of representation that does not constitute incurring an obligation or disposing of a right, by the President of the Management Board acting independently, or (II) in the case of incurring obligations or disposing of rights whose value exceeds PLN 100,000.00 (one hundred thousand złoty) in a single transaction, or the equivalent of this amount in any foreign currency, and in the case of continuous obligations and several obligations incurred in relation to the same entity, provided that the value of these obligations during a period of 12 months exceeds PLN 100,000.00 (one hundred thousand złoty), by the President of the Management Board acting jointly with a member of the management board.