Current Report No. 63/2013: Establishment of Public Bond Issue Programme

Report Date: September 25th 2013

Subject: Establishment of Public Bond Issue Programme

Legal basis: Art. 56.1.1 of the Act on Public Offering – inside information

Text of the report:

The Management Board of KRUK S.A. (the “Company”) reports that on September 25th 2013 the Management Board adopted a resolution to establish a Bond Issue Programme with a total par value of up to PLN 150m, under which the Company may issue public bonds ("Bonds"). The Bonds will be uncertificated and will exist in book-entry form.

For the Bond Issue Programme, the Company has prepared a base issue prospectus ("Issue Prospectus"), which was filed today with the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego), together with the motion for its approval. Each series of Bonds under the Bond Issue Programme will be issued within 12 months of the date of their approval by the Polish Financial Supervision Authority. The detailed terms and conditions of the issue of each series will be included in the Issue Prospectus, as well as the final terms and conditions of each emission of Bonds.

Proceeds from the Bond Issue Programme will be used to finance the operating or investment activities of the KRUK Group's companies, or for refinancing of the Company’s debt through acquisitions.

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