Current Report No. 58/2016: Execution of a surety agreement with PKO BP S.A.

The Management Board of KRUK S.A. (Issuer) reports that on June 20th 2016, in connection with a non-revolving working capital facility agreement (Credit Facility Agreement) executed by the Issuer’s subsidiary PROKURA Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamknięty of Wrocław, the Issuer signed a surety agreement (Surety Agreement) with Powszechna Kasa Oszczędności Bank Polski S.A. of Warsaw (Bank). In accordance with the Surety Agreement, the Issuer has guaranteed liabilities under the Credit Facility Agreement towards the Bank, whether existing at the time of the surety execution or arising in the future, including in particular interest and cost of court and enforcement proceedings incurred by the Bank, and thus became a joint and several debtor in respect of those liabilities. The surety has been issued for up to PLN 52,971,106.80. It will expire no later than on December 19th 2022.
The value of the Surety Agreement exceeds 10% of the Group’s revenue for the previous four financial quarters, which is the criterion for considering an agreement as material.

Detailed legal basis: Par. 5.1.7 of the Regulation of the Minister of Finance of February 19th 2009 on current and periodic information […]