Przedsiębiorstwo Budowlane Projektsp. z o.o.

Manner of representation

1. Each member of the management board is authorised independently to make declarations of will on behalf of the company resulting in the disposal of a right or the incurring of an obligation with a net value of up to PLN 1,000,000.00 (one million Polish zlotys net), whereas declarations of will on behalf of the company resulting in the disposal of a right or the incurring of an obligation with a net value exceeding PLN 1,000,000.00 (one million Polish zlotys net) may be made by two members of the management board jointly or by a member of the management board together with a commercial proxy or, alternatively, with an attorney-in-fact appointed by the partners’ meeting. 2. Each member of the management board is authorised independently to make declarations of will on behalf of the company and to represent the company in non-property matters. 3. If the management board is one-person, one member of the management board or a commercial proxy is authorised to make declarations of will on behalf of the company, subject to the above conditions.