LAR Cosmetics Groupsp. z o.o.

Manner of representation

The management board consists of one to three members, namely the President of the Management Board, the Vice-President of the Management Board and members of the management board, appointed by the shareholders’ meeting for a four-year term of office. The President of the Management Board–regardless of the number of members of the management board–is always entitled to represent the company independently. In addition, the following persons are authorised to make declarations of will and sign on behalf of the company: in the case of a one-person management board–the sole member of the management board independently; in the case of a multi-member management board–each member of the management board independently, provided that when entering into agreements and incurring obligations (including loans) whose value exceeds PLN 1,000,000.00 (one million zlotys), joint action by two members of the management board, or by a member of the management board jointly with a commercial proxy, is required.