BEL-FA S.A., Lussemburgo, Succursale di Castel San Pietro

To acquire by contribution, subscription, option, purchase or in any other manner, real estate and personal property of any kind and to realize them through sale, assignment, exchange or otherwise. It may acquire and enhance patents and rights related to such patents or intended to complete them. It may grant loans, guarantees or other forms of financing and may also provide assistance in the form of loans, guarantees or otherwise to its branches, direct or indirect, even if not substantial, to all companies that are directly or indirectly shareholders of the branch or to other companies belonging to the same group as the branch, it being understood that the branch may not enter into transactions that commit it to any activity that would be considered a regulated activity in the financial sector. It may carry out all real estate, personal property, commercial, industrial and financial operations necessary and useful for the realization of the company's purpose.