Kruk S.A. — Share Issue/Capital Change 2018

Feb 1, 2018

Current Report No. 3/2018

Date of the report: February 1st 2018

Subject: Registration of a change in the share capital of KRUK S.A.

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

Text of the report:

Further to Current Report No. 56/2017 of December 12th 2017, theManagement Board of KRUK S.A. (the "Company") announces that on February1st 2018 it was notified of registration by the District Court forWrocław-Fabryczna in Wrocław, 6th Commercial Division of the NationalCourt Register, on January 19th 2018, of a PLN 63,684 increase in theshare capital of KRUK S.A. through the issue of Series F shares. Theentry of the share capital increase in the National Court Register is ofdeclaratory nature. The share capital was increased upon registration ofthe Series F shares in the investors' securities accounts on the date oftheir registration with the Central Securities Depository of Poland, asindicated in Current Report No. 56/2017. Pursuant to Resolution No.26/2014 of the Annual General Meeting of KRUK S.A. dated May 28th 2014,the share capital was increased as part of the conditional share capitalincrease through the issue of 63,684 Series F shares with a par value ofPLN 1.00 per share. The issue of Series F shares was related to theexercise of rights attached to Series E and F subscription warrants byeligible persons. Series E and F warrants were issued as part of theincentive scheme addressed to key management staff of KRUK S.A. and theGroup 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 share

- 843,876 Series E bearer shares with a par value of PLN 1 per share

- 63,684 Series F bearer shares with a par value of PLN 1 per share and

- 1,000,000 Series G bearer shares with a par value of PLN 1 per share.

Currently, the share capital of KRUK S.A. amounts to PLN 18,807,900 andis divided into 18,807,900 shares, conferring 18,807,900 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 [...]