Kruk S.A. — Capital/Financing Update 2016

Dec 5, 2016

Current Report No. 115/2016

Date of the report: December 5th 2016

Subject: Allotment of bonds issued under the Fourth Public Bond IssueProgramme

Legal basis: Art. 17.1 of MAR - Inside information

Text of the report:

Further to Current Report No. 111/2016 of November 28th 2016 on theFourth Public Bond Issue Programme (the "Programme"), the ManagementBoard of KRUK S.A. (the "Company") announces that on December 5th 2016it passed a resolution (the "Resolution") declaring the success of theissue of Series AF1 unsecured ordinary bearer coupon bonds (the"Bonds"), carried out as part of the Fourth Programme covered by theBase Prospectus approved by the Polish Financial Supervision Authorityon November 24th 2016 (the "Prospectus"). In the Resolution of theCompany's Management Board, the Bond issue was declared successful and400,000 Bonds, each with a nominal value equal to the issue price of PLN100 and with a total value of PLN 40,000,000, were allotted. The periodof subscription for the 400,000 Bonds was December 1st 2016 (inclusive)- December 2nd 2016 (inclusive). The Bonds were allotted on December 5th2016. The issue was not divided into tranches. During the subscriptionperiod 939 Investors effectively placed subscription orders for1,254,381 Bonds. As a result of proportional reduction of 68.11%, theCompany allotted 400,000 Bonds in response to subscription orders from933 Investors. A detailed summary of the issue will be presented in aseparate current report.