Kruk S.A. — Capital/Financing Update 2024

Feb 7, 2024

Current Report No. 11/2024

Date: February 7th 2024

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

Legal basis: Article 17.1 of MAR - Inside information

Text of the report:

Further to Current Report No. 39/2023 of May 22nd 2023 on the launch ofthe Tenth Bond Issue Programme (the "Programme"), the Management Boardof KRUK S.A. (the "Issuer" or the "Company") announces that on February7th 2024 it passed a resolution on the issue and determination of thefinal terms and conditions of the issue of Series AO7 bonds (the"Bonds"). The Bonds will be offered under the Programme, which iscovered by the Base Prospectus approved by the Polish FinancialSupervision Authority on July 11th 2023, available from the Company'swebsite: www.kruksa.pl The Bonds will be offered to the public, and thepublic offering will comprise up to 700,000 unsecured Bonds. 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 theissue price equal to their nominal value of PLN 100 per Bond, and thattheir total nominal value will not exceed PLN 70m. The Bonds bearinterest at a variable rate equal to 3M WIBOR (the rate charged forthree-month borrowings denominated in PLN on the Polish interbankmarket) plus a fixed margin of 4,0 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 .