Valmaurex SA

The company's purpose is, in Switzerland and/or abroad, the purchase, sale, holding, development, management and renovation of all movable and immovable property, as well as all related operations in the field of real estate; the purchase, sale, holding, administration and management of all participations in all companies active in the field of real estate, including - without limitation - companies active in the hotel industry; to file, acquire, hold and sell patents or all intellectual property rights and to acquire, hold and grant licenses; to grant to its direct and indirect subsidiaries and/or to third parties, including its direct and indirect shareholders as well as the direct and indirect subsidiaries of these shareholders, loans and/or other direct or indirect financing (including, but not limited to, in the context of cash pooling agreements); to provide guarantees of any kind, remunerated or not, and/or any other form of security, remunerated or not, to one or more shareholders, to one or more companies of the group to which the Company belongs and/or to one or more third parties in order to guarantee the commitments and/or obligations of one or more shareholders, one or more companies of the group to which the Company belongs and/or one or more third parties, provided that this is in the interest of the Company.