Current Report No. 31/2025

Date: May 22nd 2025

Subject: Bond issue under First Bond Issue Programme without Prospectus

Legal basis: Article 17(1) of MAR - Inside information

Text of the report:

Further to Current Report No. 19/2020 announcing the First Bond IssueProgramme without a Prospectus ("Programme") and to Current Report No.94/2023 to increase the maximum total nominal value of bonds that can beoutstanding under the Programme, the Management Board of KRUK S.A. (the"Company") announces that on May 22nd 2025 it passed a resolution toissue series AL5 bonds (the "Bonds") and define their terms andconditions.

The Bonds will be offered at an issue price equal to their nominal valueof PLN 1,000 per Bond, with the aggregate nominal value of the Bonds notto exceed PLN 400m. Up to 400,000 unsecured Bonds will be offered aspart of the Bond issue. The issue will be conducted by August 31st 2025.

The Bonds will be have a book-entry form and the Company will seek tointroduce them to trading in the alternative trading system on theCatalyst market, operated by the Warsaw Stock Exchange.