Kruk S.A. — Capital/Financing Update 2016

Sep 30, 2016

Current Report No. 90/2016

Date of the report: September 30th 2016

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

Legal basis: Art. 17.1 of MAR - Inside information

Text of the report:

Further to Current Report No. 87/2016 of September 19th 2016 on theThird Public Bond Issue Programme (the "Programme"), the ManagementBoard of KRUK S.A. (the "Company") announces that on September 30th 2016it passed a resolution (the "Resolution") declaring the success of theissue of Series AB4 unsecured ordinary bearer coupon bonds (the"Bonds"), carried out as part of the Third Programme covered by the BaseProspectus approved by the Polish Financial Supervision Authority onFebruary 4th 2016 (the "Prospectus").

In the Resolution of the Company's Management Board, the Bond issue wasdeclared successful and 350 000 Bonds, each with a nominal value equalto the issue price of PLN 100 and with a total value of PLN 35 000 000were allotted.

The period of subscription for the 350 000 Bonds was September 23rd 2016(inclusive) − September 29th 2016 (inclusive). The Bonds were allottedon September 30th 2016. The issue was not divided into tranches.

During the subscription period 687 Investors effectively placedsubscription orders for 906 526 Bonds. As a result of proportionalreduction of 61%, the Company allotted 350 000 Bonds in response tosubscription orders from 673 Investors.

A detailed summary of the issue will be presented in a separate currentreport.