Kruk S.A. — Capital/Financing Update 2021

Dec 27, 2021

Current Report No. 62/2021

Date of the report: December 27th 2021

Subject: Closing of the public offering of Series AM1

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

Further to Current Report No. 58/2021 of December 16th 2021 on allotmentof bonds issued under the Eighth Bond Issue Programme (the "Programme"),the Management Board of KRUK S.A. (the "Company") announces that theoffering of Series AM1 unsecured ordinary bearer bonds (the "Bonds"),carried out as part of the Programme covered by the base Prospectusapproved by the Polish Financial Supervision Authority on September 3rd2021 (the "Prospectus") has been closed.

The period of subscription for the 500,000 Bonds was December 1st 2021(inclusive) - December 14th 2021 (inclusive). The Bonds were allotted onDecember 16th 2021. The issue was not divided into tranches.

During the subscription period 1.357 Investors effectively placed 1.557subscription orders for 2.385.017 Bonds. As a result of proportionalreduction of 79,04%, the Company allotted 500.000 Bonds in response tosubscription orders from 1.321 Investors. The Bonds were acquired forcash at an issue price of PLN 100 per bond. No underwriter acquired theBonds. The Company did not conclude any underwriting agreement inconnection with the Bond offering. The issue value, understood as theproduct of the number of the Bonds covered by the offering and the issueprice, was PLN 50.000.000.

The cost of preparing and carrying out the bond offerings, as well aspromoting the offerings and preparing documentation, including the issueprospectus, taking into consideration the cost of advisory services,will only be known after all issues under the Programme have beencarried out. As no information is available on the total cost of theProgramme and the final number of bonds issued under the Programme, theCompany will announce the total and unit cost of the offerings in aseparate current report, which will be published once the final bondissue under the Programme has been completed.

The costs incurred by the Company in connection with the offering ofBonds under the Programme are charged to the Company's operatingexpenses.

Detailed legal basis: Par. 16.1 of the Regulation of the Minister ofFinance of March 29th 2018 on current and periodic information [...]