Téleski du Lac de Joux S.A.

The company's purpose is to establish and operate mechanical lifts of all kinds for skiers. The company may: engage in any financial, commercial or industrial activity, whether movable or immovable, directly or indirectly related to its purpose; create branches or subsidiaries in Switzerland and abroad; participate in any enterprise having a direct or indirect connection with its purpose; grant loans or guarantees to shareholders or third parties if it serves its interests, act as guarantor for loans subscribed by shareholders or third parties, guarantee these loans by issuing or pledging mortgage securities or by subscribing to any other financial commitment.