Kruk S.A. — Capital/Financing Update 2016

Jun 2, 2016

Current Report No. 50/2016

Date of the report: June 2nd 2016

Subject: Closing of the public offering of Series AB2 Bonds

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

Text of the report:

Further to Current Report No. 44/2016 of May 19th 2016 on the allocationof bonds under the Third Public Bond Issue Programme (the "Programme"),the Management Board of KRUK S.A. (the "Company") announces that theoffering of Series AB2 unsecured ordinary bearer coupon bonds (the"Bonds"), carried out as part of the Programme covered by the BaseProspectus approved by the Polish Financial Supervision Authority onFebruary 4th 2016 (the "Prospectus"), has been closed. The period ofsubscription for the 1, 350,000 Bonds was May 12th 2016 (inclusive) −May 18th 2016 (inclusive). The Bonds were allotted on May 19th 2016. Theissue was not divided into tranches. In the subscription period, 1067Investors placed subscription orders for 2,313,722 Bonds. As a result,the Company allotted Investors 1,350,000 Bonds, with the reduction rateof 42%. The Bonds were acquired at the issue price of PLN 100 per bond.No underwriter acquired the Bonds. The Company did not conclude anyunderwriting agreement in connection with the Bond offering. The issuevalue, understood as the product of the number of the Bonds covered bythe offering and the issue price, was PLN 135,000,000. The cost ofpreparing and carrying out the bond offerings, as well as promoting theofferings and preparing documentation, including the issue prospectus,taking into consideration the cost of advisory services, will only beknown after all issues under the Programme have been carried out. As noinformation is available on the total cost of the Programme and thefinal number of bonds issued under the Programme, the Company willannounce the total and unit cost of the offerings in a separate currentreport, which will be published once the final bond issue under theProgramme has been completed. The costs incurred by the Company inconnection with the offering of Bonds under the Programme are charged tothe 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 [...]