SAPA S.P.A.Branch (foreign co.)

Manner of representation

The managing body has the broadest powers to conduct the ordinary and extraordinary management of the company and is entitled to undertake all actions, including dispositions, that it considers appropriate for the implementation and achievement of the company’s purposes, except for matters expressly reserved by law or the articles of association to the competence of the shareholders’ meeting. The legal representation of the company and the right to sign on behalf of the company are vested in the President of the Management Board and, within the scope of the powers granted, in authorised members of the management board. The authorised members of the management board may grant employees of the company and third parties powers of attorney to represent the company legally, including in court proceedings, and, within the limits of their powers, powers of attorney to perform individual actions or categories of actions, including the right to grant further powers of attorney. In any event, the management board may appoint one or more general directors, attorneys-in-fact and/or general representatives to perform specified tasks/actions or categories of tasks/actions.