Kruk S.A. — Capital/Financing Update 2021

Jul 15, 2021

Current Report No. 34/2021

Date of the report: July 15th 2021

Subject: Closing of the public offering of Series AK4

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

Text of the report:

Further to Current Report No. 33/2021 of July 9th 2021 on the SeventhPublic Bond Issue Programme (the "Programme"), the Management Board ofKRUK S.A. (the "Company") announces that the offering of Series AK4unsecured ordinary bearer coupon bonds (the "Bonds"), carried out aspart of the Programme covered by the base Prospectus approved by thePolish Financial Supervision Authority on August 24th 2020 (the"Prospectus") has been closed. The period of subscription for the650,000 Bonds was June 24th 2021 (inclusive) - July 7th 2021(inclusive). The Bonds were allotted on July 9th 2021. The issue was notdivided into tranches. During the subscription period 829 Investorseffectively placed 961 subscription orders for 1,583, 401 Bonds. As aresult of proportional reduction of 58.95%, the Company allotted 650,000Bonds in response to subscription orders from 823 Investors. The Bondswere acquired at the issue price of PLN 100 per bond. No underwriteracquired the Bonds. The Company did not conclude any underwritingagreement in connection with the Bond offering. The issue value,understood as the product of the number of the Bonds covered by theoffering and the issue price, was PLN 65,000,000. The cost of preparingand carrying out the bond offerings, as well as promoting the offeringsand preparing documentation, including the issue prospectus, taking intoconsideration the cost of advisory services, will only be known afterall issues under the Programme have been carried out. As no informationis available on the total cost of the Programme and the final number ofbonds issued under the Programme, the Company will announce the totaland unit cost of the offerings in a separate current report, which willbe published once the final bond issue under the Programme has beencompleted. The costs incurred by the Company in connection with theoffering of Bonds under the Programme are charged to the Company'soperating expenses.

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