RAPAPA SA

The company's main purpose is: 'the operation of a public establishment in Verbier. Acquisition and holding of real estate assets in compliance with the rules of the Federal Law of 16 December 1983 on the acquisition of real estate by foreigners (LFAIE). It may carry out all operations related to this activity as well as all operations likely to promote the purpose and interest of the company. It may create branches in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire companies with similar purposes, merge with such companies and conclude all contracts intended to develop or achieve its purpose or related thereto directly or indirectly. It may grant or receive loans from/in favor of its shareholders, as well as to/from all companies of the same group.'