Kruk S.A. — AGM Information 2016

May 9, 2016

Current Report No. 40/2016

Date: May 9th 2016

Subject: Amendment and adoption of the consolidated text of the Articlesof Association by the Annual General Meeting on May 9th 2016

Legal basis: Art. 56.1.2 of the Public Offering Act - Current andperiodic information

Text of the report:

The Management Board of KRUK S.A. (the "Company") announces that furtherto Resolution No. 35/2016 passed by the Annual General Meeting on May9th 2016, Art. 14.2.21, Art. 18 and Art. 8 of the Company's Articles ofAssociation were amended as follows:

1. In Art. 14.2 of the Articles of Association, item 21), reading:

"21) granting consent to the purchase or disposal of property, perpetualusufruct rights or interests in property by the Company, excludingproperty purchased or sold as part of a debt collection process;"

shall be amended to read as follows:

"21) granting consent to the purchase or disposal of property, perpetualusufruct rights

or interests in property by the Company if the VAT-exclusive purchaseprice or the VAT-exclusive selling price is PLN 5,000,000 (five millionzłoty) or more;"

2. The provisions of Art. 18 of the Articles of Association will becomeArt. 18.1 of the Articles of Association and Art. 18.2 will be added,reading as follows:

"2. No resolution of the General Meeting shall be required for theacquisition or disposal of any property, interests in property orperpetual usufruct rights."

3. Art. 8.1a will be added after Art. 8.1, reading:

"1a. Decisions concerning the purchase or disposal of property,perpetual usufruct rights or interests in property by the Company, ifthe VAT-exclusive purchase price or the VAT-exclusive selling price isno more than PLN 5,000,000 (five million złoty), shall be made by theManagement Board;"

The above amendments to the Articles of Association will becomeeffective upon their registration with the Business Register of theNational Court Register.

The Company publishes, in the form of an appendix to this report, theconsolidated text of the amended Articles of Association adopted by theAnnual General Meeting by Resolution No. 36/2016.Detailed legalbasis: Par. 38.1.2 of the Regulation of the Minister of Finance ofFebruary 19th 2009 on current and periodic information [...]