ARESCO SA

The acquisition, management, administration, and sale of real estate properties serving as permanent establishments exclusively for commercial use in Switzerland and all real estate properties abroad. It may also carry out all commercial, financial, industrial, or movable operations, directly or indirectly related to its purpose or likely to facilitate its realization. The company may create branches and subsidiaries in Switzerland and abroad, and participate in other companies (but for companies with real estate activities in Switzerland, exclusively if they are listed on a Swiss stock exchange or have a purpose preventing residential allocation in Switzerland). The company may also grant loans and/or guarantees, in any form, to its subsidiaries, its shareholders, or to third parties.