Kruk S.A. — Share Issue/Capital Change 2020

Oct 6, 2020

Current Report No. 34/2020

Date of the report: October 6th 2020

Subject: Closing of the public offering of Series AK1

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

Text of the report:

Further to Current Report No. 29/2020 of September 3rd2020 on theSeventh Public Bond Issue Programme (the "Programme"), the ManagementBoard of KRUK S.A. (the "Company") announces that the offering of SeriesAK1 unsecured ordinary bearer coupon bonds (the "Bonds"), carried out aspart of the Programme covered by the base Prospectus approved by thePolish Financial Supervision Authority on August 24th 2020 (the"Prospectus") has been closed. The period of subscription for the250,000 Bonds was September 10th 2020 (inclusive) - September 23rd 2020(inclusive). The Bonds were allotted on September 25th 2020. The issuewas not divided into tranches. During the subscription period 898Investors effectively placed 1,083 subscription orders for 647,697Bonds. As a result of proportional reduction of 61.4%, the Companyallotted 250,000 Bonds in response to subscription orders from 890Investors. The Bonds were acquired at the issue price of PLN 100 perbond. No underwriter acquired the Bonds. The Company did not concludeany underwriting agreement in connection with the Bond offering. Theissue value, understood as the product of the number of the Bondscovered by the offering and the issue price, was PLN 25,000,000. Thecost of preparing and carrying out the bond offerings, as well aspromoting the offerings and preparing documentation, including the issueprospectus, taking into consideration the cost of advisory services,will only be known after all issues under the Programme have beencarried out. As no information is available on the total cost of theProgramme and the final number of bonds issued under the Programme, theCompany will announce the total and unit cost of the offerings in aseparate current report, which will be published once the final bondissue under the Programme has been completed. The costs incurred by theCompany in connection with the offering of Bonds under the Programme arecharged to the Company's operating expenses.

Detailed legal basis: Par. 16.1 of the Regulation of the Minister ofFinance of March 29th 2018 on current and periodic information [...]