4. Representation of the Company

The Company is validly represented, with regard to third parties and before the courts whether as plaintiff or defendant, by two Directors acting jointly for all acts, including those involving a ministerial or public officer. These Directors will not need to be covered in any instance, in respect of third parties, by a prior decision of the Board of Directors. The Chairman of the Executive Committee represents the Company in the daily management of the business.

In addition, the Board may appoint special representatives for tasks decided by it.