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

Feb 23, 2016

Current Report No. 12/2016

Date of the report: February 23th 2016

Subject: CSDP Operations Department announcement of the registration ofSeries E shares

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

Text of the report:

In reference to Current Report No. 10/2016 dated February 12th 2016concerning Resolution No. 90/16 to conditionally register Series Eshares in KRUK S.A. (Company or Issuer), adopted by the Management Boardof the Central Securities Depository of Poland (Krajowy Depozyt PapierówWartościowych S.A., CSDP), the Company's Management Board announces thaton February 23th 2016, it was notified of an announcement of theOperations Department of the Central Securities Depository of Poland,stating that pursuant to the above resolution, on February 25th 2016 atotal of 117,398 shares in the Company would be registered with theCentral Securities Depository of Poland, under ISIN code: PLKRK0000010.The Company further announces that on the date of registration with theCentral Securities Depository of Poland of the above KRUK S.A. sharesissued as part of a conditional share capital increase, the shares willbe registered in the investors' securities accounts, and consequently(in accordance with Art. 452.1 in conjunction with Art. 451.3 of theCommercial Companies Code), an increase in the Company's share capitalwithin the limits of the conditional share capital, through the issue of117,398 Series E ordinary bearer shares with a par value of PLN 1 pershare pursuant to Resolution No. 1/2011 of the Extraordinary GeneralMeeting of March 30th 2011, was effected. Following registration of theIssuer's shares in the investors' securities accounts, the Issuer'sshare capital will be PLN 17,515,746 and will be divided into 17,515,746shares conferring the right to 17,515,746 votes at the Company's GeneralMeeting.

Following registration of the Issuer's shares in the investors'securities accounts, the structure of the Issuer's share capital will beas follows:

- 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.

Detailed legal basis: Par. 5.1.9 and Par. 34.1.1 of the Regulation ofthe Minister of Finance of February 19th 2009 on current and periodicinformation [...]