Kruk S.A. — Capital/Financing Update 2022

Nov 28, 2022

Current Report No. 80/2022

Date of the report: November 28th 2022

Subject: Allotment of bonds issued under the Ninth Bond Issue Programmeand information of Closing of the public offering of Series AN1 bonds

Legal basis: Article 17_1_ of MAR - Inside information

Text of the report:

Further to Current Report No. 76/2022 of November 9th 2022 on the NinthBond Issue Programme (the "Programme"), the Management Board of KRUKS.A. (the "Company") announces that on November 28th 2022 it passed aresolution (the "Resolution") on the allocation of Series AN1 ordinarybearer coupon bonds (the "Bonds"), carried out as part of the Programmecovered by the Base Prospectus approved by the Polish FinancialSupervision Authority on August 23rd 2022 (the "Prospectus").

In the Resolution of the Company's Management Board, the Bond issue wasdeclared successful and 250.000 Bonds, each with a nominal value equalto the issue price of PLN 100 and with a total value of PLN 25.000.000were allotted. The period of subscription for the 250.000 Bonds wasNovember 14th 2022 (inclusive) - November 25th 2022 (inclusive). Theissue was not divided into tranches.

During the subscription period 753 Investors effectively placed 866subscription orders for 461.623 Bonds. As a result of proportionalreduction of 45,84%, the Company allotted 250.000 Bonds in response tosubscription orders from 745 Investors.

At the same time, the Company announces that the offering of Bonds hasbeen closed.

The Bonds were acquired for cash at an issue price of PLN 100 per bond.No underwriter acquired the Bonds. The Company did not conclude anyunderwriting agreement in connection with the Bond offering. The issuevalue, understood as the product of the number of the Bonds covered bythe offering and the issue price, was PLN 25.000.000.

The cost of preparing and carrying out the bond offerings, as well aspromoting the offerings and preparing documentation, including theProspectus, 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 [...].