L & F Sarine SA

The company's purpose is: acquisition, holding and disposal of all real estate in Switzerland, mainly in Sarine and abroad (in Switzerland excluding operations subject to the LFAIE); brokerage, management, administration and rental operations, in particular in the field of real estate; acquisition, administration, management, holding and sale of participations of any kind in commercial, financial, industrial or other companies in Switzerland (excluding operations prohibited by the LFAIE) and abroad. 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 excluding operations prohibited by the LFAIE), directly or indirectly related to its purpose, take participations in all commercial, industrial or financial companies (in Switzerland excluding operations prohibited by the LFAIE), establish 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.