Current Report No. 19/2020: First Bond Issue Programme without a Prospectus

The Management Board of KRUK S.A. (the “Company”) announces that on July 21st 2020 it passed a resolution to establish the First Bond Issue Programme without a Prospectus (the “Programme”) with a total nominal value of up to PLN 700m, under which the Company may issue unsecured bearer bonds in PLN or EUR (“Bonds”). Bonds issued under the Programme will be offered without the obligation to draw up a prospectus or a base prospectus, as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14th 2017, and without the intermediation of an investment firm. The issue of each series of Bonds under the Programme will require a separate resolution of the Management Board concerning the issue of Bonds of the relevant series, specifying the following details: the currency, the total nominal value and the value per Bond, the interest rate, and the date and terms of redemption. The detailed terms and conditions of each series of Bonds will be defined in the relevant “Terms and Conditions”. The Issuer has not specified the end date of the Programme.

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