Kruk S.A. — Major Shareholding Notification 2019

May 10, 2019

Current Report No. 19/2019

Date of the report: May 10th 2019

Subject: Transactions in KRUK S.A. shares

Legal basis: Art. 70.1 of the Public Offering Act - acquisition ordisposal of major holdings of shares

Text of the report:

Acting pursuant to Art. 70.1 of the Act on Public Offering, ConditionsGoverning the Introduction of Financial Instruments to OrganisedTrading, and Public Companies of July 29th 2005, the Management Board ofKRUK S.A. (the "Company") announces that on May 10th 2019 it received anotification from Piotr Krupa, President of the Management Board of KRUKS.A., about the sale of Company shares, reading as follows:

"Acting pursuant to Art. 69.1.1 of the Act on Public Offering,Conditions Governing the Introduction of Financial Instruments toOrganised Trading, and Public Companies of July 29th 2005, I PiotrKrupa, hereby notify you that following the execution on 8 May 2019 atransaction to sell 15 000 shares in KRUK S.A. (ISIN PLKRK0000010) atthe Warsaw Stock Exchange I have less than 10% of the total votingrights in the Company.

The table below presents the number of shares and voting rights heldprior to and following the transaction.

I. Prior to the transaction: Number of shares held 1.901.666, % of sharecapital held 10.069, Number of voting rights held 1.901.666, % of totalvoting rights 10.069

II. After the transaction: Number of shares held 1 886 666, % of sharecapital held 9.989, Number of voting rights held 1 886 666, % of totalvoting rights 9.989

I notify you that I do not have any subsidiaries holding shares in KRUKS.A., no situation referred to in Art. 69.4.4 of the said Act arises,and I do not hold any financial instruments referred to in Art. 69b.1.1)and 2) of the said Act. Therefore, the total number of votes calculatedin accordance with Art. 69 par. 4 item 9 is 1 886 666, which constitutes%9.989 of the total voting rights. "