Kruk S.A. — Capital/Financing Update 2025

Feb 5, 2025

Report Content Current Report No. 14/2025

Date of the report: February 5th 2025

Subject: Allotment of bonds issued under the Eleventh Bond IssueProgramme and information of Closing of the public offering of SeriesAP3 bonds

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

Text of the report:

Further to Current Report No. 7/2025 of January 17th 2025 on the issueof bonds under Eleventh Bond Issue Programme (the "Programme"), theManagement Board of KRUK S.A. (the "Company") announces that on February5th 2025 it passed a resolution (the "Resolution") on the allocation ofSeries AP3 ordinary bearer coupon bonds (the "Bonds"), carried out aspart of the Programme covered by the Base Prospectus approved by thePolish Financial Supervision Authority on September 18th 2024 (the"Prospectus").

In the Resolution of the Company's Management Board, the Bond issue wasdeclared successful and 1,000,000 Bonds, each with a nominal value equalto the issue price of PLN 100 and with a total value of PLN 100,000,000were allotted. The period of subscription for the Bonds was January 21st2025 (inclusive) - February 4th 2025 (inclusive). The issue was notdivided into tranches.

During the subscription period 2,169 Investors effectively placed 2,705subscription orders for 4,131,365 Bonds. As a result of proportionalreduction of 75.80%, the Company allotted 1,000,000 Bonds in response tosubscription orders from 2,110 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 100,000,000.00. The Bonds bearinterest at a variable rate equal to 3M WIBOR plus a fixed margin of2.80 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 [...].