Current Report No. 34/2017: Transactions in KRUK S.A. shares

Acting in accordance with Art. 70.1 of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies of July 29th 2005, the Management Board of KRUK S.A. (the "Company") announces that on June 23rd 2017 it received from Powszechne Towarzystwo Emerytalne S.A., with registered office at ul. Postępu 15B, 02-676 Warsaw, Poland, the following notification of sale of Company shares:

"With reference to the disclosure obligation under Art. 69 in connection with Art. 87.1.3.b of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies of July 29th 2005, (Dz. U. of 2016, item 1639) (the "Act"), Generali Powszechne Towarzystwo Emerytalne S.A., acting as the manager of Generali Otwarty Fundusz Emerytalny and Generali Dobrowolny Fundusz Emerytalny (jointly the "Funds"), with their registered offices at ul. Postępu 15B in Warsaw, Poland, hereby gives notice of the Funds having reduced their joint holding of voting rights in KRUK S.A. (the "Company") below the threshold of 5% of the total number of voting rights in the Company.

1. The Funds' holding was reduced as a result of sale of Company shares effected on June 20th 2017.
2. Before the change, the Funds held 939,238 (nine hundred thirty-nine thousand two hundred thirty-eight) shares, representing 5.01% of the share capital of the Company and carrying 939,238 (nine hundred thirty-nine thousand two hundred thirty-eight) votes at the General Meeting, i.e. 5.01% of the total number of voting rights.
3. After the change the Funds held 925,238 (nine hundred twenty-five thousand two hundred thirty-eight) KRUK S.A. shares, representing 4.94% of the share capital of the Company and carrying 925,238 votes at the General Meeting, i.e. 4.94% of the total number of voting rights.
4. There are no subsidiaries of the Funds which would hold Company shares, and there are no persons referred to in Art. 87.1.3.c of the Act.
5. The number of voting rights from Company shares, calculated in accordance with Art 69b.2 of the Act, which the Funds would have the right or obligation to acquire as holders of the financial instruments referred to in Art. 69b.1.1 of the Act, and the financial instruments referred to in Art. 69b.1.2 of the Act, which are not exercisable exclusively by way of cash settlement, is zero.
6. The number of voting rights from Company shares, calculated in accordance with Art. 69b.3 of the Act, which are directly or indirectly related to the financial instruments referred to in Art. 69b.1.2 of the Act, is zero.
7. The total number of voting rights calculated in accordance with Art. 69.4.9 is 939,238 (nine hundred thirty-nine thousand two hundred thirty-eight), which constitutes 5.01% of the total number of voting rights."