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Manner of representation

1. In property matters resulting in the incurring of financial liabilities, disposal of property, or encumbrance of the foundation’s property, in particular in matters concerning loans, borrowings, leasing, and guarantees, the consent of at least two members of the management board is required. 2. In the case of a one-person management board, the sole member of the management board is authorized to submit declarations of will in the matters referred to in paragraph 1. 3. In other matters related to the day-to-day operations of the foundation, including the conclusion of operational contracts, each member of the management board is authorized to represent the foundation independently.