Kruk S.A. — Capital/Financing Update 2023

Dec 11, 2023

Current Report No.85/2023

Date of the report: December 11th 2023

Subject: Allotment of bonds issued under the Tenth Bond Issue Programmeand information of Closing of the public offering of Series AO3EUR bonds

Legal basis: Article 17.1. of MAR - Inside information

Text of the report:

Further to Current Report No. 81/2023 of November 22nd 2023 on the issueof bonds under Tenth Bond Issue Programme (the "Programme"), theManagement Board of KRUK S.A. (the "Company") announces that on December11th 2023 it passed a resolution (the "Resolution") on the allocation ofSeries AO3EUR ordinary bearer coupon bonds (the "Bonds"), carried out aspart of the Programme covered by the Base Prospectus approved by thePolish Financial Supervision Authority on July 11th 2023 (the"Prospectus").

In the Resolution of the Company's Management Board, the Bond issue wasdeclared successful and 50,000 Bonds, each with a nominal value equal tothe issue price of EUR 100 and with a total value of EUR 5,000,000 wereallotted. The period of subscription for the 50,000 Bonds was November27th 2023 (inclusive) - December 8th 2023 (inclusive). The issue was notdivided into tranches.

During the subscription period 326 Investors effectively placed 352subscription orders for 173,302 Bonds. As a result of proportionalreduction of 71.15%, the Company allotted 50,000 Bonds in response tosubscription orders from 318 Investors. At the same time, the Companyannounces that the offering of Bonds has been closed.

The Bonds were acquired for cash at an issue price of EUR 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 EUR 5,000,000. The Bonds bearinterest at a variable rate equal to 3M EURIBOR_#174; plus a fixed margin of4.00 percentage points per annum.

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 [...].