Kamico Investsp. j.

Manner of representation

1. Subject to paragraph 2, each partner is entitled to represent the company independently. 2. The joint action of both partners is required for making declarations of will resulting in the incurring of an obligation or the disposal of a right with a value exceeding PLN 80,000, as well as–regardless of the value–for granting sureties and guarantees and establishing security interests over the company’s assets. 3. For the purposes of paragraph 2, the aggregate value of the company’s performances arising from the entire legal act is taken into account, and in the case of contracts for an indefinite period or providing for periodic performances–the value of the performances for 12 months. Acts economically or legally connected are treated jointly.