Kruk S.A. — Share Issue/Capital Change 2021

May 26, 2021

Current Report No. 18/2021

Date of the report: May 26th 2021

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:

The Management Board of KRUK S.A. (the "Company") announces thatreceived a decision to register by the District Court forWrocław-Fabryczna in Wrocław, 6th Commercial Division of the NationalCourt Register, on May 20th 2021, of a PLN 39,234 increase in the sharecapital of KRUK S.A. through the issue of Series F shares. The entry ofthe share capital increase in the National Court Register is ofdeclaratory nature. Pursuant to Resolution No. 26/2014 of the AnnualGeneral Meeting of KRUK S.A. (Resolution) dated May 28th 2014, the sharecapital was increased as part of the conditional share capital increasethrough the issue of 39,234 Series F shares with a par value of PLN 1.00per share. The issue of Series F shares was related to the exercise ofrights attached to Series A, B, C and D subscription warrants byeligible persons. Series A, B, C and D warrants were issued as part ofthe incentive scheme addressed to key management staff of KRUK S.A. andthe 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 share

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

- 266,829 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 19.011.045 andis divided into 19.011.045 shares, conferring 19.011.045 voting rightsat the Company's General Meeting.

At the same time, in accordance with the above, Par. 4.1 of theCompany's Articles of Association was amended to give it the followingwording:

"Par. 4 Share Capital

1. The share capital of the Company amounts to 19.011.045 (in words:nineteen million, eleven thousand and forty-five) zlotys and is dividedinto 19.011.045 (in words: nineteen million, eleven thousand andforty-five) shares with the par value of 1 (one) zloty each, of which:

(a) 2 692 220 (in words: two million six hundred ninety two thousand twohundred twenty) ordinary bearer shares of A series,

(b) 11 366 600 (in words: eleven million three hundred sixty sixthousand six hundred) ordinary bearer shares of AA series,

(c) 1 250 000 (in words: one million two hundred fifty thousand)ordinary bearer shares of B series,

(d) 491 520 (in words: four hundred ninety one thousand five hundredtwenty) ordinary bearer shares of C series,

(e) 1 100 000 (in words: one million one hundred thousand) ordinarybearer shares of D series,

(f) 843 876 (in words: eight hundred forty three thousand eight hundredseventy six) ordinary bearer shares of E series,

(g) 266 829 (in words: two hundred and sixty six thousand eighty hundredand twenty nine) ordinary bearer shares of F series,

(h) 1 000 000 (in words: one million) ordinary bearer shares of Gseries."

The issuer shall attached consolidated text of the Statute of theCompany taking into account the above change.

Detailed legal basis: Par. 5.1 of the Regulation of the Minister ofFinance of April 20th 2018 on current and periodic information [...]