ORMOREG AG

The purpose of the company is the acquisition, holding and disposal of residential and commercial properties in Switzerland, the management and brokerage of plots of land and the planning and execution of new and renovation projects. The company may establish branches abroad, take over representations and enter into all transactions and conclude contracts that may be suitable to promote the purpose of the company directly or indirectly. It may grant loans or other financing to its direct or indirect parent companies as well as their or its direct or indirect subsidiaries and provide security of any kind for liabilities of such other companies, including the granting of pledges or the fiduciary transfer of the company's assets or guarantees of any kind, whether against payment or not.