Les Bas de Claire-Fontaine SA

The company's purpose is the acquisition, sale and administration of participations, management and financing of companies of any kind, in Switzerland and abroad, all to the exclusion of real estate participations and activities subject to authorization under the Federal Act on the Acquisition of Real Estate by Foreigners. The company may engage in any financial, commercial and industrial activity directly or indirectly related to its purpose; create branches or subsidiaries in Switzerland and abroad; participate in any enterprise having a direct or indirect relationship with its purpose; grant loans or guarantees to shareholders or third parties, if it serves its interests.