Kruk S.A. — Capital/Financing Update 2024

Feb 12, 2024

Current Report No. 12/2024

Date of the report: February 12th 2024

Subject: Allotment of bonds issued under the Tenth Bond Issue Programmeand information of Closing of the public offering of Series AO6EUR bonds

Legal basis: Article 17.1. of MAR - Inside information

Text of the report:

Further to Current Report No. 10/2024 of February 1st 2024 on the issueof bonds under Tenth Bond Issue Programme (the "Programme"), theManagement Board of KRUK S.A. (the "Company") announces that on February12th 2024 it passed a resolution (the "Resolution") on the allocation ofSeries AO6EUR 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 140,000 Bonds, each with a nominal value equalto the issue price of EUR 100 and with a total value of EUR 14,000,000were allotted. The period of subscription for the 140,000 Bonds wasFebruary 5th 2024 (inclusive) - February 9th 2024 (inclusive). The issuewas not divided into tranches.

During the subscription period 449 Investors effectively placed 474subscription orders for 199,214 Bonds. As a result of proportionalreduction of 29.72%, the Company allotted 140,000 Bonds in response tosubscription orders from 446 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 14,000,000. 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 [...].