SELS AG

The company's purpose is to manage family wealth. The company may conduct financing transactions for group companies, in particular by granting loans to shareholders or group companies or by providing collateral of any kind to third parties for obligations of other group companies, even if such loans or collateral are in the sole interest of direct or indirect shareholders or other group companies and are granted without consideration. The company may establish branches and subsidiaries in Switzerland and abroad and participate in companies in Switzerland and abroad. The company may also conduct all commercial, financial or other business that is suitable to promote the purpose of the company. The company may acquire, hold, encumber and sell real estate.