Kruk S.A. — Capital/Financing Update 2021

Mar 2, 2021

Current Report No. 5/2021

Date of the report: March 2nd 2021

Subject: Closing of the public offering of Series AK2

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

Text of the report:

Further to Current Report No. 3/2021 of January 27th 2021 on the SeventhPublic Bond Issue Programme (the "Programme"), the Management Board ofKRUK S.A. (the "Company") announces that the offering of Series AK2unsecured 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 the200,000 Bonds was February 3rd 2021 (inclusive) - February 16th 2021(inclusive). The Bonds were allotted on February 18th 2021. The issuewas not divided into tranches. During the subscription period 1,015Investors effectively placed 1,244 subscription orders for 1,127,869Bonds. As a result of proportional reduction of 82.27%, the Companyallotted 200,000 Bonds in response to subscription orders from 991Investors. The Bonds were acquired at the issue price of PLN 100 perbond. No underwriter acquired the Bonds. The Company did not concludeany underwriting agreement in connection with the Bond offering. Theissue value, understood as the product of the number of the Bondscovered by the offering and the issue price, was PLN 20,000,000. Thecost 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 theCompany in connection with the offering of Bonds under the Programme arecharged to the Company's operating expenses.

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