Kruk S.A. — Capital/Financing Update 2016

Jun 27, 2016

Current Report No. 67/2016

Date: June 27th 2016

Subject: Fulfilment of condition precedent under the debt assignmentagreement with Banca Monte dei Paschi di Siena S.p.A.

Legal basis: Art. 56.1.1 of the Public Offering Act - Information update

Text of the report:

In reference to Current Report No. 64/2016 of June 23rd 2016 concerningexecution of a debt assignment agreement (the "Agreement") between theCompany's subsidiary ItaCapital s.r.l. of Milan, Italy, and Banca Montedei Paschi di Siena S.p.A. of Siena, Italy (the "Bank"), the ManagementBoard of KRUK S.A. announces that on June 27th 2016 the conditionprecedent, i.e. payment of the Price under the Agreement referred to inthat current report, was fulfilled. Upon fulfilment of the conditionprecedent, the debt portfolio was transferred to the ItaCapital.

Under the Agreement, ItaCapital acquired from the Bank unsecuredconsumer debts with a total nominal value of approximately EUR 352m (PLN1.5bn, as translated at the mid rate quoted by the National Bank ofPoland for June 23rd 2016) for a price of approximately EUR 50.6m (PLN221.6m, as translated at the mid rate quoted by the NBP for June 23rd2016).

Legal basis: Par. 5.1.4 of the Regulation of the Minister of Finance ofFebruary 19th 2009 on current and periodic information [...]