Kruk S.A. — Capital/Financing Update 2021

Nov 26, 2021

Current Report No. 53/2021

Date of the report: November 25th 2021

Subject: Resolution of Management Board on issue of bonds under EighthBond Issue Programme

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

Text of the report:

Further to Current Report No. 12/2021 of April 27th 2021 on the launchof the Eighth Bond Issue Programme (the "Programme"), the ManagementBoard of KRUK S.A. (the "Issuer" or the "Company") announces that onNovember 25th 2021 it passed a resolution on the issue and determinationof the final terms and conditions of the issue of Series AM1 bonds (the"Bonds"). The Bonds will be offered under the Programme, which iscovered by the Base Prospectus approved by the Polish FinancialSupervision Authority on September 3rd 2021, available from theCompany's website: www.kruksa.pl

The Bonds will be offered to the public, and the public offering willcomprise up to 500 000 unsecured Bonds. The Bonds will have book-entryform and the Company will seek to introduce them to trading on theregulated Catalyst market operated by the Warsaw Stock Exchange.

The Company announces that the Bonds will be offered at the issue priceequal to their nominal value of PLN 100 per Bond, and that their totalnominal value will not exceed PLN 50m. The Bonds bear interest at avariable rate equal to 3M WIBOR (the rate charged for three-monthborrowings denominated in PLN on the Polish interbank market) plus afixed margin of 3,40 percentage points per annum.

The Company will redeem the Bonds on the maturity date set out in thefinal terms and conditions of their issue, with the proviso that theIssuer will have a call option to redeem early all or some of thesubscribed Bonds. At the same time, the Company announces that detailedterms and conditions of the offering of the Bonds will be included inthe final terms and condition of their issue, to be published on theIssuer's website www.kruksa.pl .