Kruk S.A. — Capital/Financing Update 2016

Jul 13, 2016

Current Report No. 76/2016

Date of the report: July 13th 2016

Subject: Closing of the public offering of Series AB3 Bonds

Legal basis: Art. 56.1.2 of the Public Offering Act - Current andperiodic information

Text of the report:

Further to Current Report No. 70/2016 of June 29th 2016 on theallocation of bonds under the Third Public Bond Issue Programme (the"Programme"), the Management Board of KRUK S.A. (the "Company")announces that the offering of Series AB3 unsecured ordinary bearercoupon bonds (the "Bonds"), carried out as part of the Programme coveredby the Base Prospectus approved by the Polish Financial SupervisionAuthority on February 4th 2016 (the "Prospectus"), has been closed. Theperiod of subscription for the 650,000 Bonds was June 22nd 2016(inclusive) − June 28th 2016 (inclusive). The Bonds were allotted onJune 29th 2016. The issue was not divided into tranches. In thesubscription period, 796 Investors placed subscription orders for1,447,825 Bonds. As a result, the Company allotted Investors 650,000Bonds, with the reduction rate of 55%. The Bonds were acquired at theissue price of PLN 100 per bond. No underwriter acquired the Bonds. TheCompany did not conclude any underwriting agreement in connection withthe Bond offering. The issue value, understood as the product of thenumber of the Bonds covered by the offering and the issue price, was PLN65,000,000. The cost of preparing and carrying out the bond offerings,as well as promoting the offerings and preparing documentation,including the issue prospectus, taking into consideration the cost ofadvisory services, will only be known after all issues under theProgramme have been carried out. As no information is available on thetotal cost of the Programme and the final number of bonds issued underthe Programme, the Company will announce the total and unit cost of theofferings in a separate current report, which will be published once thefinal bond issue under the Programme has been completed. The costsincurred by the Company in connection with the offering of Bonds underthe Programme are charged to the Company's operating expenses.

Detailed legal basis: Par. 33.1 of the Regulation of the Minister ofFinance of February 19th 2009 on current and periodic information [...]