NIPASAND AG

Management and operation of tourist accommodations, as well as the acquisition and administration of real estate of all kinds in this context. The company may establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire and exploit licenses, concessions and rights, acquire or merge with similar or related companies, and also provide financing for its own account or for third-party accounts, as well as provide guarantees and sureties for subsidiaries and third parties, and carry out all commercial, financial and other activities that are directly or indirectly related to the purpose of the company.