S.A.M. VALNA MANAGEMENT, Monaco, succursale de Nyon

the acquisition, subscription, administration and management of all movable and immovable assets, securities and rights, as well as any business and patrimonial structure concerning the company (with the exception of operations prohibited by the LFAIE); excluding the management and administration of entities and/or movable and immovable assets that are not held or controlled by the same ultimate beneficial owner as the present company, as well as any qualified participation in any economic entity; and generally any activity of any kind related to the above-mentioned object.