VEL AG

The company's purpose is to acquire and manage participations in domestic and foreign companies as well as to finance undertakings connected with and close to the company, both domestically and abroad. The company may establish branches and subsidiaries, both domestically and abroad, and may participate in other companies, both domestically and abroad, as well as conduct all business that is directly or indirectly related to its purpose. The company may acquire, encumber, dispose of, and manage real property, both domestically and abroad. It may also provide financing for its own account or for the account of others, as well as provide guarantees and sureties for subsidiaries and third parties.