VibeuuP.S.A.

Manner of representation

1. In the case of a one-person management board, the sole member of the management board is authorised to make declarations on behalf of the company. 2. In the case of appointing a two-person management board: (a) each member of the management board is entitled to incur liabilities and make declarations on behalf of the company up to a value of less than PLN 20,000 (twenty thousand złoty); (b) in the case of incurring liabilities or making declarations on behalf of the company with a value of at least PLN 20,000, joint action of at least two members of the management board is required. 3. In the case of appointing a management board consisting of three persons: (a) joint action of at least two members of the management board is required to incur liabilities and make declarations on behalf of the company up to a value of less than PLN 50,000 (fifty thousand złoty); (b) in the case of incurring liabilities or making declarations on behalf of the company with a value of at least PLN 50,000 (fifty thousand złoty), joint action of three members of the management board is required. 4. In the case of appointing a management board consisting of four or more persons: (a) joint action of at least two members of the management board is required to incur liabilities and make declarations on behalf of the company up to a value of less than PLN 50,000 (fifty thousand złoty); (b) in the case of incurring liabilities or making declarations on behalf of the company with a value of at least PLN 50,000 (fifty thousand złoty), but less than PLN 200,000 (two hundred thousand złoty), joint action of at least three members of the management board is required; (c) in the case of incurring liabilities or making declarations on behalf of the company with a value of at least PLN 200,000, joint action of at least four members of the management board is required.