III Immobilier SA

The execution of architectural work as well as, in strict compliance with the rules regarding the acquisition of real estate by foreigners: the purchase, sale and management of real estate in Switzerland and abroad; any commercial and service activity in the field of real estate, in particular the study, planning and implementation of any real estate project; the execution, both on its own account and on behalf of third parties, of all mandates for promotion, management and administration in the field of real estate. The company may also: carry out all commercial, financial or securities transactions; take participations in other companies; in general, carry out all operations having a direct or indirect connection with the company's purpose in Switzerland and abroad.