Kruk S.A. — Capital/Financing Update 2018

Dec 10, 2018

Current Report No. 45/2018

Date of the report: December 10th 2018

Subject: Closing of the public offering of Series AG1 Bonds

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

Text of the report:

Further to Current Report No. 41/2018 of November 27th 2018 on theallocation of bonds under the Fifth Public Bond Issue Programme (the"Programme"), the Management Board of KRUK S.A. (the "Company")announces that the offering of Series AG1 unsecured ordinary bearercoupon bonds (the "Bonds"), carried out as part of the Programme coveredby the Base Prospectus approved by the Polish Financial SupervisionAuthority on April 16th 2018 (the "Prospectus"), has been closed. Theperiod of subscription for the 300,000 Bonds was November 15th 2018(inclusive) - November 26th 2018 (inclusive). The Bonds were allotted onNovember 27th 2018. The issue was not divided into tranches. In thesubscription period, 374 Investors effectively placed subscriptionorders for 328,460 Bonds. As a result, the Company allotted Investors300,000 Bonds, with the reduction rate of 8.66% and with a total valueof PLN 30,000,000, were allotted. The Bonds were acquired at the issueprice 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 PLN30,000,000. 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. 16.1 of the Regulation of the Minister ofFinance of March 29th 2018 on current and periodic information [...]