Kruk S.A. — M&A Activity 2016

Nov 7, 2016

Current Report No. 106/2016

Date of the report: November 7th 2016

Subject: Agreement for acquisition of shares in Credit BaseInternational S.r.l.

Legal basis: Art. 17(1) of MAR - Inside information

Text of the report:

The Management Board of KRUK S.A. (the "Company" or "Buyer") announcesthat on November 7th 2016 the Company concluded an agreement with theshareholders of Credit Base International S.r.l. of La Spezia, Italy("CBI") for acquisition of 100% of the shares in CBI (the "Shares"),(the "Agreement"). Acceptance of the offer to acquire the Shares wasannounced in the Company's Current Report No. 101/2016 of October 28th2016.

The subject matter of the Agreement is the acquisition of 100% of theshares in CBI, free and clear of any encumbrances, restrictions orthird-party rights. CBI's business involves the management of purchaseddebt portfolios and credit management services in Italy. CBI's 2015consolidated revenue amounted to EUR 2.2m (PLN 9.5m at the PLN/EURmid-rate quoted by the NBP for November 7th 2016).

Under the Agreement, the Company will also acquire 100% of the sharecapital of Elleffe Capital S.r.l. of La Spezia, Italy ("EC") (CBI'ssubsidiary), whose business activity includes investment in debt ordebt-backed assets.

The Agreement is subject to a condition precedent that the Sharescovered by the Agreement will be transferred to the Buyer upon paymentof the Price. The Price has been paid today.