GB Mont-Blanc SA

Exercise and administration of all commercial activities. The company may also provide all services for the account of third parties, whether technical, administrative, legal or financial. Its purpose is all operations directly or indirectly related to the acquisition of participation in any form in any company, as well as the administration, management, control and development of these participations. It may notably use its funds for the creation, management, development and liquidation of a portfolio consisting of all securities and patents of any origin, participate in the creation, development and control of the company, acquire by way of contribution, subscription, firm commitment or option to purchase and in any other manner, all securities and patents, realize them by way of sale, assignment, exchange or otherwise, have these businesses and patents developed, grant to the companies in which it is interested all assistance, loans, advances or guarantees. The company may exercise its activity both in Switzerland and abroad, for its own account or for the account of third parties. It may acquire, manufacture, rent or sublet, operate and sell all real estate, patents, establishments, machines, equipment that it deems necessary or useful for the realization of its social purpose and exercise all related activities of a nature to promote the social purpose. It may create branches in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire companies with an identical or similar purpose or take an interest by way of contribution, merger, subscription, financial intervention or by any other means, in all companies, associations or enterprises having in whole or in part a similar or related purpose or likely to promote directly or indirectly its extension and development. It may lend to all companies and act as guarantor in their favor, even hypothecarily.