Kruk S.A. — Board/Management Information 2022

Apr 14, 2022

Current Report No. 33/2022

Date of the report: April 14th 2022

Subject: Appointment of Supervisory Board members

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 onApril 14th 2022 the Company's Annual General Meeting appointed,effective the same date, the following persons to serve on the Company'sSupervisory Board: Katarzyna Beuch, Ewa Radkowska-Świętoń, IzabelaFelczak-Poturnicka, Piotr Szczepiórkowski and Beata Stelmach.

Below are presented the biographical notes of the new Supervisory Boardmembers.

Katarzyna Beuch

Katarzyna Beuch is a manager with experience in auditing, finance andreporting of listed companies, management control, and accounting. Shehas served as CFO of Benefit Systems S.A. since 2020. Previously she wasDirector of Controlling and Economic Analysis at KGHM S.A. (2016-2018),and she headed the Accounting Department of Santander Consumer Bank S.A.(2014-2016). From 2006 to 2012 she worked for Getin Holding S.A.,gaining a breadth of experience in corporate integration andrestructuring as well as in mergers, acquisitions and demergers duringthe Getin Holding Group's rapid expansion and eventually being promotedto CFO (in 2009). She began her professional career with the Assets andLiabilities Management Department of Bank Zachodni (currently SantanderBank Polska Bank Polska), and then she worked at Ernst _amp; Young Audyt foralmost ten years. Ms Beuch is a graduate of the Management and ComputerScience Faculty of the Wrocław University of Economics and Business(graduated in 1993), and in 1995 she completed a post-graduate programmein financial risk, assets and liabilities management run by USAID andthe University of South Carolina at the Warsaw Institute of Banking. Shehas held ACCA qualifications since 2000 (FCCA since 2005). Ms Beuch hasauthored publications on the application of International FinancialReporting Standards. She sits on the supervisory boards of theWSE-listed companies ATM Grupa S.A., WP Holding S.A. and Kruk S.A. Shehas served as Chair of the Audit Committee of KRUK S.A. since April 2013.

Ewa Radkowska-Świętoń

Ewa Radkowska-Świętoń is an independent member of the Supervisory Boardand Audit Committee at Kruk S.A. and an independent member of theSupervisory Board and Chair of the Audit Committee at Ipopema SecuritiesS.A. She is also a member of the Capital Market Benchmarks SupervisoryCommittee at GPW Benchmark S.A. and a member of the Risk Committee atKDPW_CCP S.A. She serves as President of the Association of IndependentSupervisory Board Members and an expert at the Institute for SustainableDevelopment and Environment at Lazarski University. Previously, she wasPresident of the Management Board of Skarbiec Towarzystwo FunduszyInwestycyjnych S.A. and Vice President and then President of theManagement Board of Skarbiec Holding S.A., a WSE-listed company. In2008-2017, she served as a member of the Management Board and then asVice President of Nationale Nederlanden Powszechne TowarzystwoEmerytalne S.A., where she was responsible for investments and corporategovernance of the largest Polish open-end pension fund with more thatPLN 70bn worth of assets under management. She worked as a fund managerat Aviva Investors Polska S.A. and ING TFI S.A. (currently NN InvestmentPartners) and as an equity analyst at the Equity Transactions Centre ofBank Handlowy S.A. She is a graduate of the Warsaw School of Economics.She is certified as CFA (Chartered Financial Analyst) and FRM (FinancialRisk Manager).

Izabela Felczak-Poturnicka

Izabela Felczak-Poturnicka received her Master's degree in Economicswith honours from the Faculty of International Trade and GlobalEconomics of the Lazarski University of Commerce and Law in Warsaw in2004. She completed doctoral studies in Management and Finance and apostgraduate programme in company valuation methods at the Warsaw Schoolof Economics. Since 2005 she has been a member of the Information andResearch Centre of the Public Finance and Tax Law of Central and EasternEuropean Countries at the Faculty of Law of the University of Białystok.She is a licensed internal auditor of ISO 9001 quality managementsystems. She worked with the OECD on the OECD-Southeast Asia CorporateGovernance Initiative and other projects. She authored and co-authoredacademic papers in economics. Her fields of expertise are corporategovernance and capital markets. She has 17 years' experience incorporate governance, with a primary focus on state-owned companies,capital market transactions and other fields. Currently she is ManagingDirector of Corporate Affairs at the PZU Group. Prior to that, sheserved as Head of the Ownership Supervision Department of the Ministryof State Assets. From 2018 to 2019 she was Deputy Director at theChancellery of the Polish Prime Minister. From January 2017 she servedas counsel to the minister responsible for coordinating the work of theOwnership Policy Team at the Ministry of Energy. From 2005 to 2016 sheworked at the Ministry of State Treasury. Her key assignments includedthe exercise of ownership supervision of strategic companies andexecution of capital market transactions, including the IPOs of WSES.A., JSW S.A., ENERGA S.A. and PHN S.A. on the Warsaw Stock Exchange.She has 15 years' experience working on corporate supervisory boards.She is Chair of the Supervisory Board of Polski Holding NieruchomościS.A. and a member of the Supervisory Board of PZU Zdrowie S.A. She hasserved on the supervisory boards of PKN ORLEN S.A., Enea S.A. (as Chairof the Supervisory Board), Jastrzębska Spółka Węglowa S.A., ZEW NiedzicaS.A., MERAZET S.A., Z.Ch. ZACHEM S.A. and MERITUM BANK ICB S.A.

Piotr Szczepiórkowski

Piotr Szczepiórkowski is an expert in pension systems, asset managementand capital markets. A graduate of the Faculty of Chemical and ProcessEngineering of the Warsaw University of Technology, he worked for theMinistry of Finance and Bank Gospodarstwa Krajowego. During hisprofessional career he completed a training programme and successfullypassed all the 14 exams to obtain the ACCA qualification and theExecutive Management Development courses organised by CEDEP(Fontainebleau), Columbia University and Wharton School of Business. Heholds an investment adviser licence and is a member of the PolishAssociation of Actuaries and CFA Society Poland (CFA Charterholder). Formany years, he worked for the Commercial Union Polska Group (now AvivaPolska), first in the Finance Department of Towarzystwo Ubezpieczeń naŻycie as an accountant, Deputy Finance Director, Deputy InvestmentDirector, and then at Commercial Union PTE as Chief Investment Officerand Vice President of the Management Board. Since 2001, he has beenPresident of the Management Board of PTE. In 2008-2016, he was VicePresident of the Management Board of Aviva Towarzystwo Ubezpieczeń naŻycie. At present, Mr. Szczepiórkowski sits on the supervisory boards ofthe following WSE-listed companies: FM Forte S.A., Decora S.A., ZEWKogeneracja S.A., Octava S.A., Ipopema TFI S.A. (where he also chairsthe Audit Committee) and Polski Gaz Towarzystwo Ubezpieczeń Wzajemnychna Życie (as Deputy Chairman). On the Supervisory Board of KRUK S.A.appointed for the term starting in 2019, he was a member of the AuditCommittee and the Remuneration and Nomination Committee.

Beata Stelmach

Beata Stelmach is a graduate of the Faculty of Finance and Statistics ofWarsaw School of Economics (formerly SGPiS), she holds an MBA fromINSEAD, as well as MBA from Calgary University. For many yearsassociated with the capital and financial markets - since the economictransformation had started she worked at the Securities and ExchangeCommission. Then as a consultant at the World Bank she participated inprograms for the development of the capital markets in other countries.For many years she served as the President of SEG (Association of ListedCompanies in Poland), being a big promoter of corporate governance. Shealso performed managerial functions in financial organizations includingIntrum Justitia TFI SA, MCI Capital TFI SA. She had (or has) beenserving as a supervisory board member of banks (BPH SA, HSBC Bank PolskaSA, Millennium SA). She also has gained managerial experience in otherindustries: in the years 2001 - 2005 she was a board member of ProkomSoftware SA; in 2013 she took the position of CEO and General Director(Poland and the Baltics) at General Electric. In the period 2018 - 2020she was SVP of Leonardo Helicopters and the President of PZL Świdnik SA.From 2011 to 2013, she served as Undersecretary of State at the MoFA,being responsible for global economic policy and promotion of Poland.Ms. Beata was awarded the Knight's Cross of the Order of PoloniaRestituta for the outstanding contribution to the foreign service andwork achievements undertaken for the benefit of the country anddiplomatic activity. She has been involved in a number of socialinitiatives, including economic education of the youngest. For years,she has been engaged in various initiatives to support and help womendevelop their professional careers.

Following the decision of the Annual General Meeting to appoint theabove persons as Supervisory Board members and the submission ofrepresentations on the appointment of supervisory staff by theauthorised shareholder, referred to in Current Report No. 29/2022 ofApril 11th 2022, the composition of the Supervisory Board of KRUK S.A.of the new term of office is as follows:

1. Piotr Stępniak

2. Krzysztof Kawalec

3. Katarzyna Beuch

4. Ewa Radkowska-Świętoń

5. Izabela Felczak-Poturnicka

6. Piotr Szczepiórkowski

7. Beata Stelmach

The Company further announces that the appointed persons are not engagedin any business activities competing with the Company's business, norare they partners in any partnership under civil law or other type ofpartnership competing with the Company's business, or members of thegoverning body of any company or other legal entity competing with theCompany's business, and are not entered in the Register of InsolventDebtors maintained pursuant to the Act on the National Court Register ofAugust 20th 1997.

Detailed legal basis: Par. 5.5 of the Regulation of the Minister ofFinance of March 29th 2018 on current and periodic information to bepublished by issuers of securities [...].