Chesa Muzza AG

The Company's purpose is the purchase, sale, administration, restructuring and rental of real estate. The Company may establish branches and subsidiaries in Switzerland and abroad, hold participations in other companies, represent third parties, as well as carry out any commercial activity and conclude any type of agreement that may be suitable to promote the Company's purpose, or that are directly or indirectly related to it. The Company may acquire, hold, administer, encumber, sell real estate in Switzerland and abroad. Transactions prohibited by the Federal Law on the Acquisition of Real Estate by Foreigners (LAFE) are excluded. In pursuing its corporate purpose, the Company may take into account the interests of the Shareholders. The Company may, in particular, grant loans or other direct or indirect financing, including those within the framework of cash pooling agreements (including zero balancing), to companies directly or indirectly controlled and to third parties, including its direct or indirect shareholders and companies directly or indirectly controlled by them; to guarantee the obligations contracted by them, the Company may provide guarantees or collateral of any kind, including pledges on the Company's assets or fiduciary assignments of the same. All this may also occur without consideration, on preferential terms, interest-free, by waiving the Company's profit-making purpose and/or assuming significant risks (cluster risks).