Kruk S.A. — Capital/Financing Update 2023

May 25, 2023

Current Report No. 42/2023

Date: May 25th 2023

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

Legal basis: Article 17.1 of MAR - Inside information

Text of the report:

Further to Current Report No. 43/2022 of May 13th 2022 on the launch ofthe Ninth Bond Issue Programme (the "Programme"), the Management Boardof KRUK S.A. (the "Issuer" or the "Company") announces that on May 25th2023 it passed a resolution on the issue and determination of the finalterms and conditions of the issue of Series AN4 bonds (the "Bonds"). TheBonds will be offered under the Programme, which is covered by the BaseProspectus approved by the Polish Financial Supervision Authority onAugust 23rd 2022, available from the Company's website: www.kruksa.plThe 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. TheCompany 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 4,0 percentage points per annum. The Company will redeemthe Bonds on the maturity date set out in the final terms and conditionsof their issue, with the proviso that the Issuer will have a call optionto redeem early all or some of the subscribed Bonds. At the same time,the Company announces that detailed terms and conditions of the offeringof the Bonds will be included in the final terms and condition of theirissue, to be published on the Issuer's website www.kruksa.pl .