Current Report No. 33/2024: Execution of debt assignment agreement on Italian market

The Management Board of KRUK S.A. (the “Company”) announces that agreement have been concluded today (the “Agreement”) between the Company’s subsidiary Kruk Investimenti s.r.l. of Milan and UniCredit S.p.A. group of Milan. 
The Agreement provides for the purchase of debt portfolios comprising:
•    Portfolio of unsecured retail debt with an aggregate nominal value of EUR 35m  (PLN 152m translated at the average exchange rate quoted by the National Bank of Poland for April 22nd 2024) and
•    Forward flow portfolio of unsecured retail debt with an aggregate nominal value of up to EUR 460m (PLN 2bn translated at the average exchange rate quoted by the National Bank of Poland for April 22nd 2024) classified in 2024 and 2025. Such portfolio will be purchased in quarterly tranches starting from June 2024. Transfer of the cases of the first 4 batches, with cases classified in 2024, was already the subject of the agreement announced in Report No 87/2022, dated December 12th 2022.
The Agreement partially replaces the aforementioned agreement that was already announced in Report No 87/2022, confirming the volume originally expected on cases classified on 2024 and extending the validity of the agreement for cases classified in 2025.
The Agreement do not provide for any contractual penalties, and their other terms do not differ from standard market terms applied in agreement of such type.