In Switzerland and abroad, the acquisition, holding, administration and management of shares in any company or enterprise in Switzerland or abroad, directly or indirectly (it being specified that the company may hold in Switzerland a share in a real estate company if (i) the shares of the latter are listed on a stock exchange in Switzerland or if (ii) the real estate company has the purpose of acquiring properties with exclusively commercial use). The company may create subsidiaries and branches as well as hold shares in any enterprises. The company may acquire, hold, encumber and alienate real properties (excluding operations involving residential real properties in Switzerland) and intellectual property rights. The company may carry out for its own account or for the account of third parties all commercial, financial, industrial, movable and immovable operations which are directly or indirectly related to its corporate purpose. The company may grant loans and other direct or indirect financings to group companies and to third parties, including to its shareholders (direct and indirect) as well as to the companies of the groups of the latter, including within the framework of centralized cash management agreements (cash pooling), and provide securities of all types for their commitments, including by way of pledges or fiduciary transfers of assets of the company or guarantees of all types, for a consideration or free of charge and/or become jointly and severally liable, guarantee or act as a surety.