Kruk S.A. — Board/Management Information 2021

Mar 25, 2021

Current Report No. 7/2021

Date: March 25th 2021

Subject: Reappointment of KRUK's Management Board for another term

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 on March25th 2021 the Company's Supervisory Board passed resolutions, effectivefrom March 25th 2021, reappointing the Company's Management Board for anew joint three-year term (the "Resolutions").

All members of the Management Board were reappointed for the new term:

1. Piotr Krupa, President of the Management Board

2. Adam Łodygowski, Member of the Management Board

3. Michał Zasępa, Member of the Management Board.

4. Piotr Kowalewski, Member of the Management Board

5. Urszula Okarma, Member of the Management Board

The biographical notes of the Management Board members appointed for thenew term are provided below.

Piotr Krupa

President of the Management Board of KRUK S.A. since 2003, co-founder ofthe Company.

He began his professional career in 1997 as a partner in the civil-lawpartnership Kuźnicki i Krupa. He remained with the partnership until2004. Since 2019, he has chaired the Board of the Wroclaw University ofEconomics and Business.

In 1996, he graduated from the Faculty of Law and Administration of theUniversity of Wrocław. In 1997-2000, he completed legal training incourt. He is a legal counsel.

Piotr Krupa was the winner of the ‘EY Entrepreneur of the Year 2017'competition in the main category and in the ‘Production and Services'category. The judging panel appreciated him for "the revolutionarychange of the business model that made the company a pioneer of newsolutions on an international scale". He is not engaged in any businessoutside the KRUK Group; he is not a partner in any partnership undercivil law or other type of partnership, or a member of a governing bodyof an incorporated company or a member of a governing body of any othercompeting legal entity. He is not entered in the Register of InsolventDebtors maintained pursuant to the Act on the National Court Register.

Adam Łodygowski

Member of the Management Board of KRUK S.A. since November 2020.

Dr Adam Łodygowski began his professional career in finance withUniCredit (London) in 2011 as a quantitative analyst responsible for thedevelopment of stochastic analytics and tools for valuation ofderivative products and assessment of counterparty risk (XVA). MrŁodygowski received promotions in 2012 and 2014, which allowed him todevelop his competencies in mathematical analysis and technology (IT)and in management. In 2016, he joined Credit Suisse in Wrocław, where hewas in charge of a team of quantitative analysts, statisticians anddevelopers providing analytical, tool and technological solutions forkey areas at the bank. In 2018, he was appointed to lead a 130-memberanalytical and technological group in Poland, supporting key businesslines and technological solutions in the area of quantitative analysis,risk management and derivatives valuation. From August to November 2020,he was Managing Director of the risk assessment area at the KRUK 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. He is notengaged in any business outside the KRUK Group; he is not a partner inany partnership under civil law or other type of partnership, or amember of a governing body of an incorporated company or a member of agoverning body of any other competing legal entity. Adam Łodygowski isnot entered in the Register of Insolvent Debtors maintained pursuant tothe Act on the National Court Register.

Michał Zasępa

Member of the Management Board of KRUK S.A. since 2010.

He began his professional career at A.T. Kearney Sp. z o.o. in 2000 andremained with the consultancy firm for two years. He went on to work forthe private-equity funds management industry: in 2003-2004 he was withDresdner Kleinwort Wasserstein Sp. z o.o., and in 2004-2010 withEnterprise Investors Sp. z o.o.

He graduated from the Warsaw School of Economics in 2000 with a Master'sdegree. In 1996-1997, he studied management at the University ofWisconsin, and in 1999 at the Stockholm School of Economics. He is notengaged in any business outside the KRUK Group; he is not a partner inany partnership under civil law or other type of partnership, or amember of a governing body of an incorporated company or a member of agoverning body of any other competing legal entity. He is not entered inthe Register of Insolvent Debtors maintained pursuant to the Act on theNational Court Register.

Piotr Kowalewski

Member of the Management Board of KRUK S.A. since May 2020.

He began his professional career in 2004 as a senior analyst at KRUKS.A. In 2006, he was promoted to become Head of the Company's firstoperational Analysis Department, which he managed until 2008. Next, hetook charge of the Purchased Debt Department, where he co-created andmanaged the implementation of the amicable settlement strategy. Since2015, as Debt Management Director, he has been responsible for thedevelopment of the KRUK Group's retail debt portfolio strategy and forthe oversight of its implementation, including management of bothamicable and court settlement processes, as well as for cooperation withOperations Directors in each of the countries where the Group ispresent. Piotr Kowalewski graduated in managerial econometrics from theWrocław Academy of Economics (currently the Wroclaw University ofEconomics and Business) in 2004, as well as in computer science andmanagement from the Wrocław University of Technology in 2006. He hasalso completed post-graduate courses in Psychology in Business at WSBUniversity. Piotr Kowalewski is not engaged in any activities competingwith the Company's business, nor is he a partner in any competingpartnership under civil law or other type of partnership, or a member ofa governing body of any other competing legal entity. Piotr Kowalewskiis not entered in the Register of Insolvent Debtors maintained pursuantto the Act on the National Court Register.

Urszula Okarma

Member of the Management Board of KRUK S.A. since 2006.

Her professional career began in 1998 as an accountant at an energycompany. In 1999-2001, she headed the prevention department at SKKKredyt S.A. She joined KRUK S.A. in 2002 as Head of the TelephoneCollection Department and Head of the Financial Institutions Division.

She graduated from the Faculty of National Economy of the WroclawUniversity of Economics and Business in 1998, with a Master's degree infinance and banking. She is not engaged in any business outside the KRUKGroup; she is not a partner in any partnership under civil law or othertype of partnership, or a member of a governing body of an incorporatedcompany or a member of a governing body of any other competing legalentity. She is not entered in the Register of Insolvent Debtorsmaintained pursuant to the Act on the National Court Register.

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