BOULVARDSTONE SA

exploitation, purchase, sale, investment, rental, management of built or unbuilt properties, appraisal and all real estate transactions in Switzerland (in Switzerland only for commercial properties and excluding operations prohibited by the LFAIE); operation of a franchise system; operation, sale and rental of business assets, ownership of hotels and restaurants, real estate trade and all operations related to the hotel industry (in Switzerland only for commercial properties and excluding operations prohibited by the LFAIE); import and export, wholesale, semi-wholesale and retail sale of products, including food, wine, olive oil and spirits; sale and purchase (import-export) of tobacco, cigarettes, shisha, beverages, small catering and trade of all manufactured products; creation and management of medium and large-scale events. The company may carry out in Switzerland and abroad, either on its own account or on behalf of third parties, all commercial, financial or real estate operations (in Switzerland only for commercial properties and excluding operations prohibited by the LFAIE) directly or indirectly related to its purpose, take participations in all commercial, industrial or financial companies (in Switzerland only for commercial properties and excluding operations prohibited by the LFAIE), create branches in Switzerland and abroad. The company is authorized to take financing, restructuring and intercession measures for the benefit of shareholders, group companies or third parties, as well as to grant loans or guarantees to shareholders, group companies or third parties when it serves its interests.