Kruk S.A. — Capital/Financing Update 2023

Feb 20, 2023

Current Report No. 15/2023

Date of the report: February 20th 2023

Subject: Allotment of bonds issued under the Ninth Bond Issue Programmeand information of Closing of the public offering of Series AN3 bonds

Legal basis: Article 17(1) of MAR - Inside information

Text of the report:

Further to Current Report No. 12/2023 of February 1st 2023 on the issueof bonds under Ninth Bond Issue Programme (the "Programme"), theManagement Board of KRUK S.A. (the "Company") announces that on February20th 2023 it passed a resolution (the "Resolution") on the allocation ofSeries AN3 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 23rd 2022 (the"Prospectus").

In the Resolution of the Company's Management Board, the Bond issue wasdeclared successful and 500.000 Bonds, each with a nominal value equalto the issue price of PLN 100 and with a total value of PLN 50.000.000were allotted. The period of subscription for the 500.000 Bonds wasFebruary 6th 2023 (inclusive) - February 17th 2023 (inclusive). Theissue was not divided into tranches.

During the subscription period 1 055 Investors effectively placed 1 295subscription orders for 1 047 881 Bonds. As a result of proportionalreduction of 52,28%, the Company allotted 500.000 Bonds in response tosubscription orders from 1 032 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 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 50.000.000.

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 [...].