Kruk S.A. — Capital/Financing Update 2019

Mar 11, 2019

Current Report No. 7/2019

Date of the report: March 11th 2019

Subject: Cost summary of the Fifth Public Bond Issue Programme

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

Text of the report:

In connection with the closing of the Fifth Public Bond Issue Programme(the "Programme") on March 11th 2019, and further to Current Report No.54/2017 of December 7th 2017, the Management Board of KRUK S.A. (the"Issuer") discloses information on the costs incurred under the publicbond issue programme for retail investors. The total costs of theProgramme, under which two issues of 300,000 AG1 Series bonds and250,000 AG2 Series bonds were conducted, amounted to PLN 1,104,000. Thisamount includes: - costs related to the preparation of the issueprospectus, including consultancy costs - PLN 92.000, - costs ofpreparing and conducting a bond offer - PLN 910.000 - costs of promotionof bond offers - PLN 102.000. The average cost of conducting offers perbond offered, with a nominal value of PLN 100 amounted to PLN 2,01 TheIssuing Party did not bear the costs of sub-issuers' remuneration,because it did not conclude sub-issue agreements in connection with thebond offers. The Programme costs related to the preparation of theprospectus, final terms and conditions of issue and brokeragecommissions in the amount of PLN 880.000 have been recognized as prepaidexpenses. These costs are charged to the financial result from the issuedate to the redemption date. Other costs, including those related to thepromotion of bond offers, are charged to the current costs of theCompany's operations. Detailed legal basis: Par. 16.1 of the Regulationof the Minister of Finance of March 29th 2018 on current and periodicinformation [...]