Energotechnika Jeziornasp. z o.o.

Manner of representation

1. The joint action of two members of the management board is required to make declarations of will on behalf of the company, subject to sections 2–6 below. 2. The President of the Management Board is authorised to independently represent the company in matters where the total value of the company's principal performance arising from the agreement, determined as the sum of the net remuneration due to the other party on the date of conclusion of the agreement, does not exceed PLN 1,000,000.00 (one million zloty). 3. Regardless of the limit specified in section 2 of this paragraph, the President of the Management Board is authorised to independently represent the company in matters related to: 1) concluding agreements for the sale of electricity and heat, 2) participation in the capacity market, 3) obtaining cogeneration bonuses, 4) trading in certificates of origin, guarantees of origin and CO2 emission allowances, 5) concluding connection, operator and distribution agreements, provided that the total value of the company's principal performance arising from the agreement, determined in accordance with section 2 of this paragraph, does not exceed PLN 3,000,000.00 (three million zloty).