Current Report No. 24/2025

Date: March 27th 2025

Subject: Reappointment of KRUK's Management Board for another term

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 that on March27th 2025 the Company's Supervisory Board passed resolutions, effectivefrom March 27th 2025, reappointing the Company's Management Board for anew joint three-year term.

All members of the Management Board were reappointed for the new term:

1. Piotr Krupa, President of the Management Board

2. Piotr Kowalewski, Member of the Management Board

3. Adam Łodygowski, Member of the Management Board

4. Urszula Okarma, Member of the Management Board

5. Michał Zasępa, Member of the Management Board.

The biographical notes of the Management Board members appointed for thenew term are provided below.

Piotr Krupa

President of the Management Board of KRUK S.A. since 2003, co-founder ofthe Company.

He began his professional career in 1997 as a partner in the civil-lawpartnership Kuźnicki i Krupa. He remained with the partnership until2004. In 1996, he graduated from the Faculty of Law and Administrationof the University of Wrocław. In 1997-2000, he completed legal trainingin court. He is a legal counsel. He served on the supervisory board ofthe Association of Financial Enterprises (2006-2012). Since 2019, he hasserved as Chairman of the University Council of the Wroclaw Universityof Economics. Member of the Program Council of the Polish branch of theUnited Nations Global Compact Network Poland, working for the creationand implementation of the strategy, mission and goals of the UnitedNations Global Compact Network Poland and supporting the implementationof Agenda 2030. Until September 2024, one of the representatives of theBoard of Issuers appointed by the Warsaw Stock Exchange. In 2024, hejoined 30% Club Poland, supporting the objectives of the campaign, whichaims to increase the representation of women at the highest levels ofmanagement in Polish listed companies. He actively participates inconferences and events on the debt management industry andsocio-economic changes. Piotr Krupa is chairman of the board ofdirectors of the Krupa Family Foundation, which is not engaged in anyactivities competitive with KRUK SA. He is not a partner in anypartnership under civil law or other type of partnership, or a member ofa governing body of an incorporated company or a member of a governingbody of any other competing legal entity. He is not entered in theRegister of Insolvent Debtors maintained pursuant to the Act on theNational Court Register.

Piotr Kowalewski

Member of the Management Board of KRUK S.A. since May 2020.

He began his professional career in 2004 as a senior analyst at KRUKS.A. He became Head of the Company's first operational AnalysisDepartment, which he managed until 2008. Next, he took charge of thePurchased Debt Department, where he co-created and managed theimplementation of the amicable settlement strategy. Since 2015, as DebtManagement Director, he has been responsible for the development of theKRUK Group's retail debt portfolio strategy and for the oversight of itsimplementation, including management of both amicable and courtsettlement processes, as well as for cooperation with OperationsDirectors in each of the countries where the Group is present. PiotrKowalewski graduated in managerial econometrics from the Wrocław Academyof Economics (currently the Wroclaw University of Economics andBusiness) in 2004, as well as in computer science and management fromthe Wrocław University of Technology in 2006. He has also completedpost-graduate courses in Psychology in Business at WSB University. PiotrKowalewski is not engaged in any activities competing with the Company'sbusiness, nor is he a partner in any competing partnership under civillaw or other type of partnership, or a member of a governing body of anyother competing legal entity. Piotr Kowalewski is not entered in theRegister of Insolvent Debtors maintained pursuant to the Act on theNational Court Register.

Adam Łodygowski

Member of the Management Board of KRUK S.A. since November 2020.

Dr Adam Łodygowski began his professional career in finance withUniCredit (London) in 2011 as a quantitative analyst responsible for thedevelopment of stochastic analytics and tools for valuation ofderivative products and assessment of counterparty risk (XVA). MrŁodygowski received promotions in 2012 and 2014, which allowed him todevelop his competencies in mathematical analysis and technology (IT)and in management. In 2016, he joined Credit Suisse in Wrocław, where hewas in charge of a team of quantitative analysts, statisticians anddevelopers providing analytical, tool and technological solutions forkey areas at the bank. In 2018, he was appointed to lead a 130-memberanalytical and technological group in Poland, supporting key businesslines and technological solutions in the area of quantitative analysis,risk management and derivatives valuation. From August to November 2020,he was Managing Director of the risk assessment area at the KRUK Group.In 2005, he graduated from the Poznań University of Technology and fromthe University of Hanover (Germany) in the field of numerical methods inconstruction, with a Master's degree in Engineering. In 2006-2010, hestudied and worked as an academic researcher at Louisiana StateUniversity (USA), specialising in numerical methods in mechanics andfinancial mathematics, and was awarded the title of Doctor of Scienceand a Master's degree in financial mathematics, respectively. AdamŁodygowski is chairman of the board of the Foundation Our Club KW 04,which does not conduct competitive activities with the Company. He isnot a partner in any partnership under civil law or other type ofpartnership, or a member of a governing body of an incorporated companyor a member of a governing body of any other competing legal entity.Adam Łodygowski is not entered in the Register of Insolvent Debtorsmaintained pursuant to the Act on the National Court Register.

Urszula Okarma

Member of the Management Board of KRUK S.A. since 2006.

Her professional career began in 1998 as an accountant at an energycompany. In 1999-2001, she headed the prevention department at SKKKredyt S.A. She joined KRUK S.A. in 2002 as Head of the TelephoneCollection Department and Head of the Financial Institutions Division.She graduated from the Faculty of National Economy of the WroclawUniversity of Economics and Business in 1998, with a Master's degree infinance and banking. She is not engaged in any business outside the KRUKGroup; she is not a partner in any partnership under civil law or othertype of partnership, or a member of a governing body of an incorporatedcompany or a member of a governing body of any other competing legalentity. She is not entered in the Register of Insolvent Debtorsmaintained pursuant to the Act on the National Court Register.

Michał Zasępa

Member of the Management Board of KRUK S.A. since 2010.

He began his professional career at A.T. Kearney Sp. z o.o. in 2000 andremained with the consultancy firm for two years. He went on to work forthe private-equity funds management industry: in 2003-2004 he was withDresdner Kleinwort Wasserstein Sp. z o.o., and in 2004-2010 withEnterprise Investors Sp. z o.o. He graduated from the Warsaw School ofEconomics in 2000 with a Master's degree. In 1996-1997, he studiedmanagement at the University of Wisconsin, and in 1999 at the StockholmSchool of Economics. He is not engaged in any business outside the KRUKGroup; he is not a partner in any partnership under civil law or othertype of partnership, or a member of a governing body of an incorporatedcompany or a member of a governing body of any other competing legalentity. He is not entered in the Register of Insolvent Debtorsmaintained pursuant to the Act on the National Court Register.

Legal basis: Par. 5.5 of the Regulation of the Minister of Finance ofMarch 29th 2018 on current and periodic information [...]