Current Report No. 52/2021: Execution of debt assignment agreements on Italian market

The Management Board of KRUK S.A. (the “Company”) announces that today agreements (the “Agreements”) were concluded between the Company’s subsidiary – Kruk Investimenti s.r.l. of Milan, Italy, and Deutsche Bank Spa of Milan, Italy. The Agreements provide for the purchase an unsecured retail debt portfolios with an aggregate nominal value of up to EUR 317,6m (PLN 1,48bn translated at the average exchange rate quoted by the National Bank of Poland for November 25th 2021). The Agreements stipulate that debt portfolios with a nominal value of up to EUR 260m (PLN 1,21bn translated at the average exchange rate quoted by the National Bank of Poland for November 25th 2021) will be purchased in eight quarterly tranches within 24 months.

The Agreements do not provide for any contractual penalties, and their other terms do not differ from standard market terms applied in agreements of such type.