Current Report No. 40/2017

Date: September 5th 2017

Subject: Correction of Q1 2017 report

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) hereby publishes acorrection of the extended consolidated quarterly report for Q1 2017issued by the Company on April 27th 2017. The correction is due to thechange of functional currency from PLN to EUR at the subsidiaryInvestCapital Malta Ltd. (InvestCapital) as of January 1st 2017. Thechange followed from an assessment of the currency of the primaryeconomic environment in which InvestCapital operates (functionalcurrency). In the assessment, the InvestCapital Management Boardfollowed its own judgement in order to establish a functional currencythat reflects the growing share of investment and financing denominatedin the euro. A detailed description of the changes is presented inAppendix 1 to this report.