Kruk S.A. — Board/Management Information 2020

Nov 5, 2020

EN

Current Report No. 39/2020

Date of the report: November 5th 2020

Subject: Appointment of Management Board member

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 onNovember 5th 2020 the Company's Supervisory Board passed a resolution toappoint Adam Łodygowski as a member of the Company's Management Boardfor a joint term of office, with effect from November 6th 2020.Accordingly, acting pursuant to Art. 7.2 of the Articles of Associationof KRUK S.A., the Company's Supervisory Board has passed a resolutiontoday to set the number of Management Board members at five, with effectfrom November 6th 2020.

Information on the new Management Board member:

Adam Łodygowski

Dr Adam Łodygowski began his professional career in finance withUniCredit (London) in 2011 as a quantitative analyst responsible for thedevelopment of tools and stochastic analytics for valuation ofderivatives and assessment of counterparty risk (XVA). Followingpromotions in 2012 and 2014, Mr Łodygowski continued to develop hiscompetencies in mathematical analysis and technology (IT) as well asgaining experience in management. In 2016, he joined the Wrocław branchof Credit Suisse, where he was in charge of a team of quantitativeanalysts, statisticians and developers providing analytical, tool andtechnological solutions for key areas at the bank. In 2018, he waspromoted to lead a 130-member analytical and technological group inPoland, supporting key business lines and technological solutions in thearea of quantitative analysis and derivatives valuation. Since August2020, he has been Managing Director of the risk assessment area at theKRUK Group.

In 2005, he graduated from the Poznań University of Technology and fromthe University of Hanover (Germany) in the field of numerical methods inconstruction, with a Master's degree in Engineering. In 2006-2010, hestudied and worked as an academic researcher at Louisiana StateUniversity (USA), specialising in numerical methods in mechanics andfinancial mathematics, and was awarded the title of Doctor of Scienceand a Master's degree in financial mathematics, respectively.

The Company also announces that, according to his representation, AdamŁodygowski does not conduct any activities competing with the Company'sbusiness, nor is he a partner in any competing partnership under civillaw or another type of partnership, or a member of the governing body ofany other competing legal entity. Adam Łodygowski is not entered in theRegister of Insolvent Debtors maintained pursuant to the Act on theNational Court Register.

Legal basis: Par. 5.5 of the Regulation of the Minister of Finance ofMarch 29th 2018 on current and periodic information [...]