Kruk S.A. — Capital/Financing Update 2024

Nov 4, 2024

Report Content Current Report No. 60/2024

Date: November 4th 2024

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

Legal basis: Article 17.1 of MAR - Inside information

Text of the report:

Further to Current Report No. 32/2024 of April 19th 2024 on the launchof the Eleventh Bond Issue Programme (the "Programme"), the ManagementBoard of KRUK S.A. (the "Issuer" or the "Company") announces that onNovember 4th 2024 it passed a resolution on the issue and determinationof the final terms and conditions of the issue of Series AP2 bonds (the"Bonds"). The Bonds will be offered under the Programme, which iscovered by the Base Prospectus approved by the Polish FinancialSupervision Authority on September 18th 2024, available from theCompany's website: www.kruksa.pl. The Bonds will be offered to thepublic, and the public offering will comprise up to 1,000,000 unsecuredBonds, provided that if the Company decides to increase the number ofBonds to be offered under the terms and conditions set forth in thefinal terms and conditions of the Bonds and the Base Prospectus, up toan additional 250,000 Bonds may be offered in the offering. The Bondswill have book-entry form and the Company will seek to introduce them totrading on the regulated Catalyst market operated by the Warsaw StockExchange.

The Company announces that the Bonds will be offered at the issue priceequal to their nominal value of PLN 100 per Bond. The total nominalvalue of the Bonds will be no more than PLN 100m, with the provisionthat if the Company decides to increase their number, it will be no morethan PLN 125m. The Bonds bear interest at a variable rate equal to 3MWIBOR plus a fixed margin of 3.00 percentage points per annum. TheCompany will redeem the Bonds on the maturity date set out in the finalterms and conditions of their issue, with the proviso that the Issuerwill have a call option to redeem early all or some of the subscribedBonds. At the same time, the Company announces that detailed terms andconditions of the offering of the Bonds will be included in the finalterms and condition of their issue, to be published on the Issuer'swebsite www.kruksa.pl.