The acquisition and management of all participations in companies or enterprises in Switzerland or abroad, excluding participations in companies or enterprises having a real estate purpose within the meaning of the Federal Act on the Acquisition of Real Estate by Foreigners (LFAIE). The Company may grant its direct or indirect subsidiaries as well as third parties, including its direct or indirect shareholders and their direct or indirect subsidiaries, direct or indirect financing, issue any kind of security, including by way of pledges on the Company's assets or fiduciary transfers or assignments of the Company's assets, issue guarantees, provide surety or otherwise guarantee or secure their own obligations as well as those of other companies (including direct or indirect shareholders of the Company or companies in which these shareholders have a direct or indirect participation), with or without remuneration. Furthermore, it may operate or associate with the aforementioned companies in cash pooling/net liquidity centralization arrangements, including periodic balance adjustments. The Company may also do all of this without consideration, on preferential terms, without interest, excluding the Company's ability to make a profit, and incurring a concentration of risks.
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