Kruk S.A. — Major Shareholding Notification 2023

Jul 25, 2023

Current Report No. 60/2023

Date: July 25th 2023

Subject: Transactions in KRUK S.A. shares

Legal basis: Art. 70.1 of the Public Offering Act

Text of the report:

Acting in accordance with Art. 70.1 of the Act on Public Offering,Conditions Governing the Introduction of Financial Instruments toOrganised Trading, and Public Companies of July 29th 2005, theManagement Board of KRUK S.A. (the "Company") announces that today itreceived information from Generali Powszechne Towarzystwo EmerytalneS.A. dated July 25th 2023. (Information), that on July 21st 2023 theliquidation of NNLife Otwarty Fundusz Emerytalny (NNLife OFE) wascompleted. On the date when the liquidation of NNLife OFE was completed,its assets were transferred to Generali Otwarty Fundusz Emerytalny("Generali OFE"), leading to Generali OFE's share in the share capitaland total voting rights in Kruk S.A. (the "Company") exceeding the 5%threshold. The Information received states as follows:

"Acting in accordance with Art. 69 of the Act on Public Offering,Conditions Governing the Introduction of Financial Instruments toOrganised Trading, and Public Companies of July 29th 2005 (Dz.U. of2022, item 2554) (the "Act"), Generali Powszechne Towarzystwo EmerytalneS.A. (the "Management Company"), with its registered office at ul.Senatorska 18, Warsaw, Poland, would like to inform you that theliquidation of the open-end pension fund NNLife Otwarty FunduszEmerytalny ("NNLife OFE") was completed on July 21st 2023. On the datewhen the liquidation of NNLife OFE was completed, its assets weretransferred to Generali Otwarty Fundusz Emerytalny ("Generali OFE"),leading to Generali OFE's share in the share capital and total votingrights in Kruk S.A. (the "Company") exceeding the 5% threshold.

Before liquidation of NNLife OFE

Generali OFE and NNLife OFE held a total of 1,624,510 (one million sixhundred and twenty-four thousand five hundred and ten) shares, or 8.41%of the Company's share capital, and 1,624,510 (one million six hundredand twenty-four thousand five hundred and ten) voting rights, or 8.41%of total voting rights, in the Company; of which Generali OFE held797,135 (seven hundred and ninety-seven thousand one hundred andthirty-five) shares, or 4.13% of the Company's share capital, and797,135 (seven hundred and ninety-seven thousand one hundred andthirty-five) voting rights, or 4.13% of total voting rights in theCompany;

After liquidation of NNLife OFE

Generali OFE holds a total of 1,624,510 (one million six hundred andtwenty-four thousand five hundred and ten) shares, or 8.41% of theCompany's share capital, and 1,624,510 (one million six hundred andtwenty-four thousand five hundred and ten) voting rights, or 8.41% oftotal voting rights, in the Company; There are no subsidiaries ofGenerali OFE holding any shares in the Company, and no individualsmentioned in Art. 87.1.3.c. of the Act. As calculated in accordance withArt. 69b.2. of the Act, there are no voting rights attached to sharesthat Generali OFE would have the entitlement or obligation to acquire asa holder of financial instruments mentioned in Art. 69b.1.1 of the Actor financial instruments mentioned in Art. 69b.1.2 of the Act which arenot exercised solely through cash settlement. As calculated inaccordance with Art. 69b.3. of the Act, there are no voting rightsattached to shares which are directly or indirectly related to financialinstruments referred to in Art. 69b.1.2. of the Act. As calculated inaccordance with Art. 69.4.9., the total number of voting rights held byGenerali OFE is 1,624,510 (one million six hundred and twenty-fourthousand five hundred and ten), representing 8.41% of total votingrights."