Kruk S.A. — Major Shareholding Notification 2020

Dec 1, 2020

Current Report No. 47/2020

Date of the report: December 1st 2020

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 December 1st 2020 itreceived a notification from Powszechne Towarzystwo Emerytalne AllianzPolska S.A., ul. Rodziny Hiszpańskich 1, 02-685 Warsaw, of theacquisition of Company shares, reading as follows:

"Pursuant to Art. 69.1.2 and Art. 69.2 of the Act on Public Offering,Conditions Governing the Introduction of Financial Instruments toOrganised Trading, and Public Companies, Powszechne TowarzystwoEmerytalne Allianz Polska S.A., the management company which managesopen-end pension fund Allianz Polska Otwarty Fundusz Emerytalny ("OFE")and voluntary pension fund Allianz Polska Dobrowolny Fundusz Emerytalny("DFE") announces that following a transaction in KRUK S.A. sharesexecuted on November 27th 2020 the percentage of the share capital andtotal voting rights held in KRUK S.A., registered in OFE's and DFE'saccounts, increased above 5%.

Prior to the transaction, 849,116 shares, representing 4.48 % of KRUKS.A.'s share capital and conferring the right to 849,116 voting rightsrepresenting 4.48 % of total voting rights at KRUK S.A.'s GeneralMeeting, were registered in OFE's and DFE's accounts.

Following the transaction, the number of KRUK S.A. shares registered inOFE's and DFE's accounts increased to 1,009,299 shares, representing5.32% of KRUK S.A.'s share capital and conferring the right to 1,009,299voting rights, representing 5.32% of total voting rights at KRUK S.A.'sGeneral Meeting."