Kruk S.A. — Capital/Financing Update 2020

Jul 21, 2020

Current Report No. 19/2020

Date of the report: July 21st 2020

Subject: First Bond Issue Programme without a Prospectus

Legal basis: Art. 17(1) of MAR - Inside information

Text of the report:

The Management Board of KRUK S.A. (the "Company") announces that on July21st 2020 it passed a resolution to establish the First Bond IssueProgramme without a Prospectus (the "Programme") with a total nominalvalue of up to PLN 700m, under which the Company may issue unsecuredbearer bonds in PLN or EUR ("Bonds"). Bonds issued under the Programmewill be offered without the obligation to draw up a prospectus or a baseprospectus, as referred to in Regulation (EU) 2017/1129 of the EuropeanParliament and of the Council of June 14th 2017, and without theintermediation of an investment firm. The issue of each series of Bondsunder the Programme will require a separate resolution of the ManagementBoard concerning the issue of Bonds of the relevant series, specifyingthe following details: the currency, the total nominal value and thevalue per Bond, the interest rate, and the date and terms of redemption.The detailed terms and conditions of each series of Bonds will bedefined in the relevant "Terms and Conditions". The Issuer has notspecified the end date of the Programme.