Focus Estate Sosnowiecsp. z o.o.

Manner of representation

Members of the management board from Group A are authorised to represent the company and submit declarations of will on its behalf in all matters, unless they result in the disposal of a right or the incurring of an obligation with a value exceeding the PLN equivalent of EUR 100,000 according to the average exchange rate of the National Bank of Poland from the day preceding the day on which the declaration of will is submitted. For the disposal of a right or the incurring of an obligation whose value exceeds the PLN equivalent of EUR 100,000 according to the average exchange rate of the National Bank of Poland from the day preceding the day on which the declaration of will is submitted, two members of the management board from Group A acting jointly must submit the declaration of will. A member of the management board from Group B is authorised to represent the company and submit declarations of will on its behalf, acting jointly with a member of the management board from Group A, and in the case of declarations of will resulting in the disposal of a right or the incurring of an obligation with a value exceeding the PLN equivalent of EUR 100,000 according to the average exchange rate of the National Bank of Poland from the day preceding the day on which the declaration is submitted, together with two members of the management board from Group A. In the case of incurring a continuing obligation for a definite period, the value of the obligation incurred is calculated taking into account the value of all performances throughout the entire duration of the obligation. In the case of incurring a continuing obligation for an indefinite period, the value of the obligation incurred is calculated taking into account the value of all performances that would be due for a period of one year. If the company's management board consists of only one member, the sole member of the management board may independently take all actions reserved for the management board, irrespective of the provisions of the company's articles of association governing the adoption of management board resolutions, and represents the company independently.