Current Report No. 38/2025

Date: June 13th 2025

Subject: Resolution of Management Board on issue of bonds under EleventhBond Issue Programme

Legal basis: Article 17.1 of MAR - Inside information

Text of the report:

Further to Current Report No. 32/2024 of April 19th 2024 on the launchof the Eleventh Bond Issue Programme (the "Programme"), the ManagementBoard of KRUK S.A. (the "Issuer" or the "Company") announces that onJune 13th 2025 it passed a resolution on the issue and determination ofthe final terms and conditions of the issue of Series AP4 bonds (the"Bonds"). The Bonds will be offered under the Programme, which iscovered by the Base Prospectus approved by the Polish FinancialSupervision Authority on September 18th 2024, available from theCompany's website: www.kruksa.pl. The Bonds will be offered to thepublic, and the public offering will comprise up to 800,000 unsecuredBonds, provided that if the Company decides to increase the number ofBonds to be offered under the terms and conditions set forth in thefinal terms and conditions of the Bonds and the Base Prospectus, up toan additional 200,000 Bonds may be offered in the offering. The Bondswill have book-entry form and the Company will seek to introduce them totrading on the regulated Catalyst market operated by the Warsaw StockExchange.

The Company announces that the Bonds will be offered at the issue priceequal to their nominal value of PLN 100 per Bond. The total nominalvalue of the Bonds will be no more than PLN 80m, with the provision thatif the Company decides to increase their number, it will be no more thanPLN 100m. The Bonds bear interest at a variable rate equal to 3M WIBORplus a fixed margin of 2.70 percentage points per annum. The Companywill redeem the Bonds on the maturity date set out in the final termsand conditions of their issue, with the proviso that the Issuer willhave a call option to redeem early all or some of the subscribed Bonds.At the same time, the Company announces that detailed terms andconditions of the offering of the Bonds will be included in the finalterms and condition of their issue, to be published on the Issuer'swebsite www.kruksa.pl.