Badger Immobilien AG

The purpose of the company is to manage the assets of the sole shareholder. The company may establish branches and subsidiaries in Germany and abroad and may participate in other companies in Germany and abroad as well as conduct all business that is directly or indirectly related to its purpose. The company may acquire, encumber, dispose of, and manage real property in Germany and abroad. The company may grant loans or other financing to its affiliated companies and shareholders and may enter into all types of security transactions, in particular in the form of guarantees, pledges, assignments for security purposes, security transfers of title, assignments for security purposes, and hold harmless agreements for affiliated companies and third parties, even if such financing or security transactions are in their sole interest and are uncompensated.