Kruk S.A. — Share Issue/Capital Change 2016

Apr 5, 2016

Current Report No. 24/2016

Date of the report: April 5th 2016

Subject: Registration of a change in the share capital of KRUK S.A.following exercise of rights to acquire shares under the incentive scheme

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

Text of the report:

Further to Current Report No. 12/2016 of February 23rd 2016, theManagement Board of KRUK S.A. (the "Company") announces that on April5th 2016 it was notified of registration by the District Court forWrocław-Fabryczna in Wrocław, 6th Commercial Division of the NationalCourt Register, on April 4th 2016, of a PLN 117,398 increase in theshare capital of KRUK S.A. through the issue of Series E shares.

The entry of the share capital increase in the National Court Registeris of declaratory nature. The share capital was increased uponregistration of the Series E shares in the investors' securitiesaccounts on the date of their registration with the Central SecuritiesDepository of Poland, as indicated in Current Report No. 12/2016.Pursuant to Resolution No. 1/2011 of the Company's Extraordinary GeneralMeeting dated March 30th 2011, the share capital was increased as partof the conditional share capital increase through the issue of 117,398Series E shares with a par value of PLN 1.00 per share. The issue ofSeries E shares was related to the exercise of rights attached to SeriesA, B, C and D subscription warrants by eligible persons. Series A, B, Cand D warrants were issued as part of the incentive scheme addressed tokey management staff of KRUK S.A. and the Group companies.

KRUK S.A.'s share capital currently comprises:

- 2,692,220 Series A bearer shares with a par value of PLN 1 per share,

- 11,366,600 Series AA bearer shares with a par value of PLN 1 per share,

- 1,250,000 Series B bearer shares with a par value of PLN 1 per share,

- 491,520 Series C bearer shares with a par value of PLN 1 per share,

- 1,100,000 Series D bearer shares with a par value of PLN 1 per shareand

- 615,406 Series E bearer shares with a par value of PLN 1 per share.

Currently, the share capital of KRUK S.A. amounts to PLN 17,515,746 andis divided into 17,515,746 shares, conferring 17,515,746 voting rightsat the Company's General Meeting.

Detailed legal basis: Par. 5.1.9 of the Regulation of the Minister ofFinance of February 19th 2009 on current and periodic information [...]