Kruk S.A. — Capital/Financing Update 2024

Jul 11, 2024

Report Content Current Report No. 45/2024

Date of the report: July 11th 2024

Subject: Cost summary of the Tenth Public Bond Issue Programme

Legal basis: Art. 56.1.2 of the Public Offering Act - Current andperiodic information

Text of the report:

In connection with the expiration of the Tenth Public Bond IssueProgramme (the "Programme") on July 11th 2024, and further to CurrentReport No. 39/2023 of May 22nd 2023, the Management Board of KRUK S.A.(the "Issuer") discloses information on the costs incurred under theProgramme. The total costs of the Programme, under which four issues of750,000 AO1 Series bonds, 900,000 AO2 Series bonds, 50,000 AO3EUR Seriesbonds, 50,000 AO4EUR Series bonds, 100,000 AO5EUR Series bonds, 140,000AO6EUR Series bonds and 700,000 AO7EUR Series bonds were conducted,amounted to PLN 7,868,787. This amount includes: - costs related to thepreparation and approval of the issue prospectus, including consultancycosts - PLN 162,050, - costs of preparing and conducting a bond offer -PLN 7,530,049 - costs of promotion of bond offers - PLN 176,688. TheIssuer issued a total of 2,690,000 bonds under the Program, including2,350,000 bonds in PLN and 340,000 bonds in EUR. The average total costof conducting the offerings per bond offered was PLN 2.93. The IssuingParty did not bear the costs of sub-issuers' remuneration, because itdid not conclude sub-issue agreements in connection with the bondoffers. The Programme costs in the amount of PLN 7,654,549 wererecognized as prepaid expenses and are charged to the financial resultfrom the date of issue to the redemption date. The remaining costs ofthe Program in the amount of PLN 214,238 are charged to the Company'scurrent operating expenses.

Detailed legal basis: Par. 16.1 of the Regulation of the Minister ofFinance of March 29th 2018 on current and periodic information [...]