Cl149sp. z o.o.

Manner of representation

Members of Management Board Group A are authorised to represent the company and submit declarations of will on behalf of the company independently in all matters, unless they result in the disposal of a right or the incurring of a liability with a value exceeding the PLN equivalent of EUR 100,000.00 according to the average exchange rate of the National Bank of Poland from the day preceding the day of submission of the declaration of will. Disposal of a right or incurring a liability with a value exceeding the PLN equivalent of EUR 100,000.00 according to the average exchange rate of the National Bank of Poland from the day preceding the day of submission of the declaration of will requires the consistent submission of a declaration of will by two members of Management Board Group A acting jointly. A member of Management Board Group B is authorised to represent the company and submit declarations of will on its behalf acting jointly with a member of Management Board Group A, and, in the case of declarations of will resulting in the disposal of a right or the incurring of a liability exceeding the amount constituting the PLN equivalent of EUR 100,000.00 according to the average exchange rate of the National Bank of Poland from the day preceding the day of submission of the declaration, jointly with two members of Management Board Group A. When incurring liabilities of a continuous nature for a definite period, the value of the liability incurred is calculated taking into account the value of all performances for the entire duration of the liability. When incurring liabilities of a continuous nature for an indefinite period, the value of the liability incurred is calculated taking into account the value of all performances that would be due for a period of one year.