Palais Elstein Immobilien Stiftung

The purpose of the foundation is a) to make grants (distributions) to, and generally to promote the economic interests of, the beneficiaries designated in accordance with the foundation charter and the supplementary foundation charter, in the broadest sense, with regard to covering the costs of living, furnishings and support, as well as education and training; in particular, but not exclusively, by granting monetary or in-kind contributions, allowing the use of assets or real estate, or by granting other benefits, in particular, but not exclusively, by granting loans, assuming guarantees and liabilities, etc.;

b) to invest and manage the foundation's assets, as well as generally to acquire, hold, manage, and dispose of domestic or foreign company and asset participations and real estate in Liechtenstein or abroad. (2) For the avoidance of doubt, it is hereby clarified that assets subsequently endowed within the scope of the foundation's purpose may also be earmarked for a specific purpose or dedicated to the benefit of one or more designated members of the beneficiary group (as a separate accounting unit). (3) The foundation is authorized to conduct all business and take all measures necessary or useful for pursuing and achieving its purpose, in particular, but not exclusively, to conclude legal transactions of any kind in Liechtenstein and abroad, to acquire and dispose of participations in companies or other equity securities or financial instruments, to invest the liquid assets of the foundation, and to incur debts and liabilities that are necessary or useful for the preservation and management of the foundation's assets. The foundation is also specifically authorized, in accordance with Section 22 of the foundation charter, to establish foundations or similar asset-holding structures in Liechtenstein or abroad and to transfer parts or all of the foundation's assets to these entities. (4) As a secondary purpose, the foundation may make charitable donations that benefit the public in humanitarian fields, even if this activity only benefits a specific group of people.