Current Report No. 87/2022: Execution of debt assignment agreements on Italian market

The Management Board of KRUK S.A. (the “Company”) announces that agreements have been concluded today (the “Agreements”) between the Company’s subsidiary Kruk Investimenti s.r.l. of Milan (the “Buyer”, the “Party”) and entities of the UniCredit S.p.A. group of Milan (the “Sellers”, the “Parties”).

The Agreements provide for the purchase of debt portfolios comprising:

• unsecured loans with an aggregate nominal value of approximately EUR 75m (PLN 351,84m translated at the average exchange rate quoted by the National Bank of Poland for December 12th 2022) and:
• unsecured consumer loans with an aggregate nominal value of up to EUR 460 m (PLN 2,16bn translated at the average exchange rate quoted by the National Bank of Poland for December 12th 2022) classified in 2023 and 2024. Such portfolio will be purchased in quarterly tranches starting from May 2023.

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.