Hotel 4b Development AG

The purpose of the company is to develop the "Hotel 4b" project in Andermatt, Canton of Uri, Switzerland (the "Project"), consisting of the planning, design and construction of a hotel and approximately 184 apartments, the operation of the hotel and the sale of the apartments, as well as the infrastructure facilities and buildings required for their construction, operation and maintenance. The company may conduct all business that directly or indirectly promotes the purpose of the company. It may operate domestically and abroad, establish branches and found subsidiaries or participate in other companies.