Execution of debt assignment agreement on Italian market

Further to Current Report of December 14th 2023 on Seller’s decision to conclude debt assignment agreement, the Management Board of KRUK S.A. (the “Company”) announces that today agreement (the “Agreement”) was concluded between the Company’s subsidiary – Kruk Investimenti s.r.l. of Milan, Italy, and Deutsche Bank Spa of Milan, Italy (the "Seller"). The Agreement provides for the purchase of forward flow unsecured retail debt portfolio with an aggregate nominal value of up to EUR 280m (PLN 1,213m translated at the average exchange rate quoted by the National Bank of Poland for December 19th 2023).

The Agreement stipulates that debt portfolio will be purchased in eight quarterly tranches within 2 years starting from April 2024.

The Agreement does not provide for any contractual penalties, and it’s other terms do not differ from standard market terms applied in agreements of such type.