Current Report No. 125/2016

Date: December 22nd 2016

Subject: Subsidiary wins tender for a debt portfolio on the Italianmarket

Legal basis: Art. 17.1 of MAR - Inside information

Text of the report:

The Management Board of KRUK S.A. (the "Company") announces that onDecember 22nd 2016 it was notified by its subsidiary, ItaCapital S.r.l.of Milan, Italy, that it had won the tender to purchase an unsecuredretail debt portfolio from Banca IFIS S.P.A of Venezia on the Italianmarket. The portfolio's face value is approximately EUR 750m (or PLN3,3bn at the mid-rate quoted by the National Bank of Poland for December22nd 2016). The relevant agreement related to the tender will beannounced by the Company promptly after its execution in a separatereport.