KRUK Group: Leader in Debt Collection Market Expansion

KRUK Group Presentation 3Q 2016

Agenda Introduction Operating activities Market position Financial performance Strategy and summary Appendices 2

Brief overview of KRUK Group KRUK s core business is to manage debt for both institutional clients and for it s own account within three segments; unsecured consumer debt, mortgages and corporate debt in Europe Highly experienced investment and debt collection management teams based in Wroclaw, Poland Proven deal execution with 500 portfolios acquired in 7 markets since 2003 HQ in Wroc aw, Poland Currently invested in 6 countries Company HQ Invested market (Year of entry) Revenue by country 2015 Others 4% Poland 54% PLN 139m Romania 42% Recoveries (2015) EUR 188m Cash EBITDA1(2015) EUR 119m Portfolio face value EUR 8.0bn Full time employees 3,011 Acquired portfolios 499 2000 2014 2011 2011 2007 Consumer investments Portfolio 2015 Mortgage Corporate 2016 Debt collection outsourcing Consumer loans Credit information Source: Company report, data as of 31 December 2015 3

KRUK Group Leader of the attractive debt collection market Poland market leader with over 18 years of operating history Romania debt purchase market leader with 9 years of operating history Czech Republic and Slovakia successful market entry in 2011 Germany market entry in 2014, first portfolios purchased in 2015 Italy, Spain market entry in 2015, first portfolio purchased in Italy (2016 in Spain) Market leader in Central Europe with the ambition to be a key player in Europe The young European debt purchase market has been growing at a brisk pace for the past few years. The KRUK Group has purchased debt portfolios for over a decade now, and is among the most experienced market players. Banks are increasingly looking to sell their non-performing consumer loans, and the market is expanding into new mortgage and corporate debt sale segments. Young and attractive market KRUK enjoys a competitive advantage thanks to: its innovative amicable settlement approach supported by media campaigns combination of debt collection outsourcingwith debt purchase business long-standing experience in debt portfolio valuation, purchase and management Competitive advantage KRUK grows much faster than the market net profit CAGR of 48% in 2007 2015 ROE at 26% in 2015 KRUK's business generates stable cash flows cash EBITDA* of EUR 119m in 2015, 7% higher yoy. Strong performance The founding shareholder and President of the Management Board of KRUK S.A., together with a supporting team of managers, have been at the Group's helm for over a dozen years. The President and members of the Management Board of KRUK S.A. jointly hold 13% of its shares. Stable team of performance- driven staff *Cash EBITDA = EBITDA + recoveries from purchased debt portfolios revenue from collection of purchased debt All data converted to EUR using EUR/PLN=4.4 4

We help our clients pay their debts We help build credit history We treat debtors as our clients We offer debt settlements We offer participation in our loyalty scheme We develop relations through visits of our advisers We promote debt settlements in media 5

KRUK's market capitalisation goes beyond USD 1 billion 2011 2012 2013 2014 2015 CAGR 2015 / 2011 EPS (EUR) 2.7 30.9% 2.9x 0.9 1.1 1.3 2.0 EPS growth rate 72.2% 19.1% 20.2% 55.1% 32.3% - - ROE rolling* 27.9% 25.6% 23.5% 25.9% 26.0% - - Net profit (EURm) 32.4% 3.1x 15,1 18,5 22,2 34,5 46,4 KRUK shares on the WSE** 900000 55 Share price EUR 49.00 800000 Change 1Y/3M +18% / +4% 700000 45 PLN 58.00 / PLN 33.00 Max/Min 1Y 600000 Share price in EUR 35 500000 Market capitalisation EUR 0.9bn KRUK's position at the WSE according to market capitalisation: 29 400000 25 300000 Stock trading liquidity 200000 Average daily trading volume (y/y) 15 EUR 1.7m (+ 174%) 100000 Free float*** 77.9% 5 0 May/11 May/12 May/13 May/14 May/15 May/16 Nov/11 Jan/12 Mar/12 Nov/12 Jan/13 Mar/13 Nov/13 Jan/14 Mar/14 Nov/14 Jan/15 Mar/15 Nov/15 Jan/16 Mar/16 Jul/11 Sep/11 Jul/12 Sep/12 Jul/13 Sep/13 Jul/14 Sep/14 Jul/15 Sep/15 Jul/16 Sep/16 KRUK's rank at the WSE according to liquidity: 12 ROE for the last four quarters; equity at end of period. * Source: Stooq.com, as at October 28th 2016 or GPWInfostrefa, as at end of September 2016 *** Free float - shareholders with a holding of less than 10% 6

KRUK in 1-3Q 2016: EUR 42m in net profit and record-high recoveries of EUR 160m Cash from debt collection activities (EURm) Financial performance (EUR m) 46 5000% 200 7 42 Debt collection outsourcing 5 4500% 180 net profit ROE (%)** 7 4000% Recoveries from purchased debt portfolios Cash EBITDA* 160 35 3500% 140 9 119 3000% 120 111 7 22 98 2500% 100 188 18 9 160 78 2000% 80 15 162 66 1500% 60 10 122 48 8 103 1000% 40 78 29 45 20 500% 22% 2011 18% 2010 26% 2015 23% 2012 28% 2014 28% 2013 24% 0 0% 2010 2011 2012 2013 2014 2015 1-3Q 2016 1-3Q 2016 CAGR 2007 2015 3Q 2016 1-3Q 2016 2007 2015/2007 EURm 2007 2015 yoy Debt cases managed at year end, in millions (purchased debt portfolios and debt collection 1.1 5.6 236% Revenue 21% 33% 14.5 138.9 123.3 outsourcing) Nominal value of own debt cases managed at year end, EBIT 16% 47% 2.6 57.1 50.6 1.0 8.0 474% EURbn Cash EBITDA* 10% 41% 7.8 119.1 97.9 Accumulated recoveries from purchased debt portfolios (EURm) 36 950 - Net profit 16% 48% 2.0 46.4 42.2 751 3,011 262% Number of employees*** *Cash EBITDA = EBITDA + recoveries from purchased debt portfolios - revenue from collection of purchased debt ** Return on equity at the end of the period *** Including personnel under employment contracts and civil law contracts 7

The Management Board of KRUK S.A. and its management personnel the most experienced team on the market Stable team of performance-driven managers Management Board Members' average time with the Company: 12 years Many managers with more than 10 years of service at KRUK Piotr Krupa, Piotr Krupa, President of the Management Board Micha Zas pa, Micha Zas pa, Management Board Member, Finance and Risk Agnieszka Ku ton, Agnieszka Ku ton, Management Board Member, Purchased Portfolio Operations Urszula Okarma, Urszula Okarma, Management Board Member, Portfolio Purchases and Debt Collection Outsourcing Iwona S omska, Iwona S omska, Management Board Member, Human Resources, Marketing and Public Relations 13% of shares held by Management Board members With KRUK since 2004, initially as Marketing and PR Director; since 2009 also responsible for HR as Member of the Management Board. Founding shareholder and President of the Management Board since 1998 Member of the KRUK Supervisory Board since 2005. Joined the Management Board in 2010, responsible for finance, risk, portfolio valuations and investor relations. Joined KRUK in 2002, initially as debt trading and debt collection outsourcing specialist; in 2003- 2006 served as Debt Collection Outsourcing Director. Member of the Management Board since 2006. With KRUK since 2002, as Director of the Telephone Collection Department, and Director of the Financial Institutions Division. Member of the Management Board since 2006. Share option plan for 2015-2019 covers over 120 employees and the Board Members Strong staff development culture significant focus on personnel training and development 8

Experienced members of the KRUK Supervisory Board and stable shareholder structure Education: Guelph University (Canada), Ecole Sup rieure de Commerce de Rouen (France), Purdue University (USA). Experience:President of the Management Board of GETIN Holding S.A.,Vice-President of the Management Board of Lukas Bank S.A. Current positions: Supervisory Board Member at FM Bank S.A., Skarbiec Asset Management Holding S.A., ATM Grupa S.A. Stable shareholder structure Piotr St pniak Chairman of the Supervisory Board 10.8% 1.4% Education:Wroc aw University of Economics (Poland), Association of Chartered Certified Accountants (ACCA). Experience: Bank Zachodni S.A., Ernst & Young Audit, Management Board Member at GETIN Holding S.A. Current positions: Santander Consumer Bank. Katarzyna Beuch Member of the Supervisory Board 8.2% 11.3% Education: University of Cologne (Germany), chartered auditor. Experience:Dresdner Bank, co-founder of Artur Andersen Poland, former Head of Financial Markets Group at Ernst & Young. Tomasz Bieske Member of the Supervisory Board 61.9% 6.4% Arkadiusz Orlin Jastrz bski Member of the Supervisory Board Education: Warsaw School of Economics (Poland), investment adviser, CFA and SFA. Experience: West Merchant Bank London, Raiffeisen Polska, Innova Capital Europa rodkowa, Hexagon Capital Polska, Red Point Publishing. Current positions: Supervisory Board Member at Forte S.A., Koelner S.A., Atlanta Poland S.A., Polish Energy Partners S.A., Comp S.A., Integer.pl S.A. Piotr Krupa Other members of the Management Board Aviva Open-Ended Pension Funds Nationale Nederlanden Open-Ended Pension Funds Generali Open-Ended Pension Funds Other Education: d University of Technology (Poland), Warsaw School of Economics (Poland), PAM Center University of d , University of Maryland. Experience:Managerat IFFP. Current positions: President of the Management Board of Magellan S.A. and Magellan Slovakia s.r.o., Supervisory Board Member at MedFinance Magellan s.r.o. Krzysztof Kawalec Member of the Supervisory Board 13% of the shares are held by Piotr Krupa and KRUK Management Board Members. Open-End Pension Funds hold some 45% of the shares in KRUK S.A. Education: John F. Kennedy School of Government (USA), Harvard University (USA), Tufs University (USA). Experience: Management Board Member at Kulczyk Holding, Regional Director at Euronet Worldwide, partner at Horton International, adviser to the President of the Management Board of PGE Current positions: President of the Management Board and General Director at Rathdowney Resources Robert Ko ski Member of the Supervisory Board Investment fund management companies hold some 20% of the Company shares. Active foreign investors institutional investors from Europe and the USA. J zef Wancer Member of the Supervisory Board Education: Webster University (Austria), NY University (USA). Experience: Citibank, President of Raiffeisen Bank Polska, President of Bank BPH S.A. Current positions: President of BG Bank, Management Board Member of the American Chamber of Commerce in Poland, adviser to the Management Board of Deloitte Polska, Supervisory Board Member at Gothaer TU Around 70 Company employees are covered by the incentive scheme (2011-2014 option program). 9

KRUK Group milestones and business model KRUK Group's milestones innovation leader KRUK Group's business model 2000 Launch of the debt collection outsourcing business BUSINESS PARTNERS 2001 Introduction of the success only fee in CMS Debt portfolio market emerges decision to raise new equity telecom operators insurance companies cable TV operators other media banks 2003 KRUK the CMS market leader Enterprise Investors invests USD 21m (PEF IV) Purchase of first debt portfolio 2005 First securitisation process in Poland, Branch opened in Wa brzych Debt collection outsourcing Debt purchase Decision to replicate business model outside of Poland 2007 Entry into the Romanian market Innovative approach to debtors Debt collection process 2008 Amicable settlement solutions (voluntary debt settlement or litigation) introduced on a mass scale shared debt collection platform, tools and infrastructure (IT, telco, call centre) 2010 Legislative change operation of Rejestr D u nik w ERIF Advertising in media tool for mass communication Increased supply of non-performing debt Corporate and SME debt Consumer debt Retail mortgage debt 2011 IPO on the WSE, Entry into the Czech and Slovakia market 2014 Acquisition of the first large mortgage-back debt portfolio Entry into the German market We help our Clients (indebted people) pay their debts 2015 Acquisition of the first portfolios in Germany and Italy 2016 Successful closing of the P.R.E.S.C.O. portfolio purchase Acquisition of the first portfolios in Spain 10

Unique debt collection strategy LARGE-SCALE AMICABLE SETTLEMENT STRATEGY KRUK as a friendly institution, helping with debt settlement issues; encouragement to contact KRUK Instalment-based repayment is the Company's key operating strategy Extensive field adviser network Use of Rejestr D u nik w ERIF BIG (ERIF Debtor Register, a credit information bureau) to maintain payment discipline KRUK's advertising campaign (with an educational and image-building agenda), run in the press, on the Internet and TV, as well as the Idea Placement initiative targeted at indebted persons were both globally-unique solutions Guides for debtors published in the press Participation in loyalty programme OBJECTIVES: Fostering KRUK's image as a supportive, amicable, but also consistent debt collector COMPANY PERCEPTION: KRUK is a solution, not a problem Improved efficiency Improved cost efficiency Thanks to amicable settlements, the Company does not have to contact debtors as often. In 2015, the share of costs in recoveries was 27%. Amicable settlement improves effectiveness by 10-20% on the typical approach. Stable cash flows Higher awareness of KRUK brand KRUK has the highest brand awareness of the debt management companies in Poland (total recognition of 54% compared with the top competitor's15%) and Romania(31% and 9%, respectively).* Repayments under settlements are more stable and predictable than those made on the basis of verbal declarations. In 2015, the share of repaymentsunder settlementswas 63%. Source: PBS survey in Poland, December 2015 TNS survey in Romania, December 2015 11

Consistent approach to debtors tools ERIF Debtor Register and Raven Law Firm ERIF collects and provides information on debtors, as well as on consumers who are timely payers. There are only three such credit information bureaus in Poland. Poland s leading debt collection law firm, with 500 employees, supports the KRUK Group and its clients, and has developed a proven platform for cooperation with debt enforcement officers. Number of cases filed and amounts recovered Number of debt cases ('000) Recovered amount (PLNm) Number of cases debt purchase Database containing information about 5.1m debts. Ability to use the agency as a debt collection support tool since June 14th 2010: Debtor control = ERIF entry + amicable settlement process, Efficient pressure-exerting tool for time-barred debts, ERIF s improved effectiveness means higher effectiveness of the Group s debt collection processes, Building a positive credit history of people who have repaid their debt under settlement. Number of cases credit management 350 350 Recoveries (debt purchase and credit management) 300 300 250 250 200 200 150 150 100 100 50 50 ERIF effective tool 0 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 Several million debtors entered in the credit information bureau's databases over the next few years Growing scale and effectiveness of ERIF Opening to other client types (creditors) and cases whose data may be entered in the database Higher demand for credit information Promoting positive credit information as a mechanism boosting the financial credibility of Poles Launch of e-Court and electronic simplified procedures in 2010: Lower unit cost of court proceedings, Streamlined administration procedures and duration of proceedings cut by nearly one-third (48 days). Changes introduced in electronic simplified procedures in 2013 reduced the efficiency of Polish courts, which increases the role of KRUK's amicable approach. 12

Agenda Introduction Operating activities Market position Financial performance Strategy and summary Appendices 13

KRUK Groups competitive advantages Indebted individuals are treated as clients Higher recoveries, greater predictability of recoveries and enhanced cost efficiency Operating activities supported by media campaigns and ERIF Amicable settlement strategy for debt collection Both products are addressed to the same group of business partners sales synergy Common platform for both products operational synergy Mitigation of risk related to debt portfolio purchases thanks to statistical information obtained from the debt collection outsourcingbusiness 1.0m debts outsourced to KRUK for collection annually Synergy between debt collection outsourcing and debt purchase 499 debt portfolios purchased and over 2,000 debt portfolios valued since the launch of business The KRUK Group boastsunmatched know-how in debt valuation, purchase and management Experience in valuation and purchase of debts The purchased portfolios comprise 5.6m debtors and debt with the nominal value of PLN 35.0bn Because of the scale of KRUK s operations and its amicable settlement strategy, the media campaigns and field adviser mediation are effective collection tools The large scale of KRUK s operations enables cost optimisation and extensive use of statistical methods to support business decisions Economies of scale Leading positionon the Romanian debt collection market Profitable transactions in Czech Republic and Slovakia First portfolios purchased on German, Italian and Spanish market Successful expansion on foreign markets Nominal value of bonds outstanding as at the end of Q3 2016 was EUR 285m Kruk has EUR 144m credit limitsat banks Availability of debt financing 14

KRUK first-choice provider of debt collection outsourcing services for banks Non-performing debt portfolio KRUK manages an average of 1.0m cases annually as part of its debt collection services Auction for debt collection outsourcingservices selection of a debt collector KRUK has been providing debt collection outsourcing services since 1999 Debt collection outsourcing Numerous debt portfolios outsourced for collection are subsequently auctioned by banks debt collectors with experience in debt collection outsourcing have a competitive edge during debt auctions Acceptance of cases and initiation of collection process with use of KRUK's tools KRUK handles consumer, mortgage-backed and corporate debt at every stage during amicable settlement and litigation Three-month debt collection process Debt collection outsourcing operations help KRUK evaluate and manage purchased debt Uncollected debt cases returned to the client 15

KRUK superior experience in portfolio valuation Banks sell debt portfolios on a regular basis; the reasons include: improvement of liquidity, the regulator's requirements, tax legislation. Debt purchase and management process Debt portfolio auction Valuation based on over 10 years of experience in debt portfolio purchases 499 portfolios purchased since the launch of operations and over 2 thousand valuations. KRUK's valuation of the debt portfolio Purchase at a high discount, usually at a price equal to 5 25% of the portfolio nominal value. Winning the auction and purchase of the portfolio Low initial reach to debtors, at approximately 20% on average. ERIF entry and court collection Amicable settlement process Increased reach and recovery at 2.0 3.0x the purchase price. Number of cases purchased by KRUK (cumulatively, in thousands) KRUK has been purchasing debt continuously since December 2002 Until the end of 3Q 2016, KRUK purchased 499 portfolios with the nominal value of PLN 8.0bn. Over a dozen or so years, KRUK has assembled a unique database of 5.6m indebted customersin Poland and abroad KRUK normally purchases debt portfolios from the institutions to which it provides debt collection outsourcingservices 5,553 9681,3391,9742,3632,7003,0273,728 862 713 423 236 94 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 3Q 2016 Over the ten years of its operation in the debt purchase segment, KRUK has handled over 5.6m debt cases 16

Agenda Introduction Operating activities Market position Financial performance Strategy and summary Appendices 17

KRUK has maintained its lead on the regional debt purchase and debt management market Nominal value of debts accepted for collection in Poland and Romania (EURbn and market share) Expenditure on debt portfolios (EURm and market share**) 212 0,9 Q1-Q32016 Q1-Q32016 17% 111 0.9 29% 2015 2015 130 0.7 23% 2014 2014 22% 22% 83 0.7 2013 2013 22% 27% 70 0.8 2012 2012 19% 29% 129 1.0 2011 2011 38% 23% 44 0.8 2010 2010 33% 26% 10 0.7 2009 2009 12% 21% 24 0.3 2008 2008 19% KRUK strengthened its nearly 30% share in the highly competitive debt collection outsourcing markets in Poland and Romania. KRUK is the leader of the debt purchase markets in Poland and Romania. Group's share of debt purchase market in individual countries by nominal value in 2015* Romania Poland The Czech Republic and Slovakia 13% 20% 43% * Poland and Romania consumer, mortgage, corporate; The Czech Republic and Slovakia consumer, mortgage, corporate and non-bank. ** Market share in Poland, Romania, the Czech Republic and Slovakia (excluding investments on German and Italian markets) 18

Germany, Italy, Spain: much larger markets for non-performing debt than Poland BANK DEBTS IN GERMANY BANK DEBT IN SPAIN BANK DEBT IN ITALY EUR 2,371bn EUR 1,528bn EUR 1,278bn NON-PERFORMING DEBT NON-PERFORMING DEBT NON-PERFORMING DEBT EUR 73.5bn loss ratio: 3.1% EUR 149.8bn loss ratio: 9.8% EUR 195.5bn loss ratio: 15.3% After the 2011 crisis, lending activity in Italy declined. However, a steady market recovery has been observed recently. At the end of 2015, the level of debt at Italian banks was four times higher than in 2008, and banks show considerable interest in selling debt portfolios. In Germany, bank loans to the private sector amount to nearly EUR 1.0bn, of which consumer loans represent 20%. For years, the German banking market has been showing a low level of non-performing debt and moderate interest in selling debts. In Spain, lending activity shows a similar size and follows similar trends as in Italy. Spanish banks are highly interested in selling their non-performing debt portfolios. BANK DEBT IN POLAND EUR 217.2bn EUR 16.5bn loss ratio: 7.6% NON-PERFORMING DEBT Source: In-house analysis based on the Company's supply data and publicly available information 19

Agenda Introduction Operating activities Market position Financial performance Strategy and summary Appendices 20

KRUK 2009-Q3 2016 fast-growing and highly profitable business with strong cash flows EURm 2011 2012 2013 2014 2015 1-3Q 2016 yoy Debt portfolios purchased investments in debt portfolios -129 -70 -83 -130 -111 -213 220% recoveries 78 103 122 162 188 160 16% STATEMENT OF PROFIT AND LOSS Total revenue 62 78 92 111 139 123 21% Revenue from own debt portfolios 52 69 81 100 128 114 22% including revaluation 5 1 -3 2 12 12 61% Revenue from debt collection outsourcing 9 8 9 7 7 5 5% Revenue from other products and services 1 2 2 3 4 4 19% Gross profit 33 44 51 67 81 71 17% Gross margin 52% 57% 55% 60% 59% 58% - Own debt portfolios 29 41 46 63 77 68 19% Debt collection outsourcing 4 3 4 3 2 1 -9% Other products and services 0 0 0 1 2 1 -26% EBITDA 23 33 37 50 60 53 16% EBITDA margin 37% 42% 40% 45% 43% 43% - NET PROFIT 15 18 22 35 46 42 16% net profit margin 24% 24% 24% 31% 33% 34% - ROE 28% 26% 24% 26% 26% 24% - EPS (PLN) 4 4.8 5.8 8.9 11.8 10.6 - CASH EBITDA* 48 66 78 111 119 98 10% Source: KRUK S.A. **Cash EBITDA = EBITDA + recoveries from purchased debt portfolios revenue from collection of purchased debt. 21

KRUK the carrying amount of acquired debt portfolios increased tenfold over seven years EURm, as at the end of: 2010 2011 2012 2013 2014 2015 Q3 2016 Assets Cash and equivalents 4.7 8.2 9.7 8.0 16.0 3.3 28.4 Investments in debt portfolio purchases 59.8 163.3 198.5 239.5 310.6 368.3 539.1 Other assets 7.6 10.4 12.6 16.7 18.1 17.0 22.2 Total assets 72.2 181.9 220.8 264.3 344.7 417.3 589.7 Equity 29.6 54.2 72.2 94.5 133.0 178.3 218.3 including: Retained earnings 24.2 30.1 48.5 70.7 105.2 145.7 179.9 Liabilities 42.6 127.8 148.6 169.8 211.7 239.0 371.5 including: Borrowings and leases 5.7 26.8 38.4 25.7 79.4 55.8 68.5 Bonds 22.0 81.6 97.1 130.6 111.3 157.4 274.8 Total equity and liabilities 72.2 181.9 220.8 264.3 344.7 417.3 589.7 Interest-bearing debt 27.8 108.4 135.5 156.3 190.6 213.2 343.3 Net interest-bearing debt 23.0 100.2 125.8 148.2 174.6 181.2 314.8 Net interest-bearing debt to equity 0.8 1.8 1.7 1.6 1.3 1.0 1.4 Interest-bearing debt to 12-month cash EBITDA* 0.8 2.1 1.9 1.9 1.6 1.5 2.5 22

Agenda Introduction Operating activities Market position Financial performance Strategy and summary Appendices 23

KRUK's growth matrix KRUK has a strong potential for business growth across products and geographical regions. Current business lines Czech Republic Poland Romania Slovakia Italy Spain Germany Debt portfolio purchases Consumer Mortgage Corporate Debt collection outsourcing Consumer loans Credit information 24

The strategic objective for 20152019: Achieve the position of one of Europe's three leading debt management companies in terms of net profit. Improvement of portfolio valuations and operating analyses Growth in geographical regions and product range development (KRUK's growth matrix) Improvement of efficiency on acquired portfolio KRUK manages a debt portfolio with a total nominal value at the time of purchase of EUR 8.0bn. By the end of Q3 2016, the Group purchased 499 debt portfolios and performed over 2,000 debt portfolio valuations. Growth on existing markets Expansion on foreign markets consolidate its position on the unsecured consumer debt purchase markets increase purchase and collection of mortgage-backed debts increase purchase and collection of non-performing corporate debts develop the debt collection outsourcing business develop other product lines loans and credit information KRUK plans to gradually enter new markets, in particular: Spain Italy Portugal Becoming more effective in getting through to the debtors from portfolios acquired so far by: development of process management, development of a network of field advisers, enhancing marketing communication. Enhancing Group s experience by: improving statistical models for the valuation of debt portfolios improving credit scoring and forecasting models supporting operating processes on the basis of cases acquired in the past (5.6m) and debts outsourced for collection every year (1.0m on average). The Group sees the source of its business success in its organisational culture and competence in such fields as human resources management, mass operations statistical analysis, management of risk and finances, and marketing. These factors are not specific to the debt management market, hence the KRUK Group plans to undertake by 2019 new, complementary projects in the financial sector in Poland. New business 25

Agenda Introduction Operating activities Market position Financial performance Strategy and summary Appendices 26

The KRUK Group operates in seven countries and competes with big pan-European players Additional markets: Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Denmark, Greece, Hungary, Macedonia, Netherlands, Serbia, Slovenia, Switzerland (and also: Brazil, USA, China) Denmark, Estonia, Latvia, Lithuania, Netherlands, Belgium, Netherlands Denmark, Estonia, Netherlands, Austria, Hungary, Switzerland, Belgium, Ireland Austria, Denmark, Netherlands, Switzerland Czech Republic, Austria, Netherlands, Slovenia, Croatia, Estonia, Latvia, Serbia, Montenegro, Bulgaria Source: companies websites Listed companies: Intrum Justitia, Hoist Finance, PRA Group, Arrow Global, Encore, B2Holding 53

Investor Relations in 20152016 Selected IR plans for 2016 Most recent stock recommendations March 9th 10th Roadshow in Germany and Date Institution TP Recommendation Scandinavia (Frankfurt, Stockholm) Sep 2016 WOOD hold PLN 262.00 March 11th Carnegie Debt Purchase Seminar 2016 June 2016 DM mBanku accumulate PLN 211.44 (Stockholm) June 2016 DM BDM accumulate PLN 215.40 March 15th 17th PKO BP Polish Capital Market 2016 Recommendations received in 2015 and 2016 Conference (London) May 16th Poland Conference (Auerbach, IPOPEMA) 8 7 7 1 in New York 0 June 1st-2nd Wood Emerging Europe Financials Buy Accumulate Hold* Reduce Sell Conference in Warsaw For more details, visit: pl.kruk.eu/relacje-inwestorskie/raporty/raporty-analityczne June 3rd-5th Wall Street 20 Conference of the Polish Sell-side analysts covering Company stock Association of Retail Investors Institution Analyst Contact September 14th-16th Roadshow in the USA DM BDM DM BZ WBK Vestor DM Erste Group Ipopema DM mBanku DM PKO BP Trigon DM Wood & Co. DM BDM Maciej Bobrowski Dariusz G rski Micha Fidelus Mateusz Krupa ukasz Ja czak Micha Konarski Jaromir Szortyka Grzegorz Kujawski Jerzy Kosi ski Maciej Bobrowski bobrowski@bdm.pl dariusz.gorski@bzwbk.pl michal.fidelus@investors.pl mateusz.krupa@erstegroup.com lukasz.janczak@ipopema.pl michal.konarski@dibre.com.pl Jaromir.szortyka@pkobp.pl grzegorz.kujawski@trigon.pl jerzy.kosinski@wood.com bobrowski@bdm.pl September 20th Societe Generale Conference in Paris September 21st-22nd Roadshow in London October 13th-14th ERSTE Conference in Stegersbach November 30th-December 1st WOOD s Winter in Prague 28 * 'Hold' or 'neutral'

Disclaimer This presentation has not been prepared in connection with any public share or bond offering of KRUK S.A. The presentation is for information purposes only and as such should not be treated as an invitation, proposal or offer to purchase any financial instruments. Investing in KRUK S.A. shares and bonds involves risks inherent in such financial instruments. To the best of KRUK S.A.'s knowledge, the information contained in this presentation is consistent with the Company's financial statements available at http://en.kruk.eu/en/for-investors/reports/interim-reports/, which are the only source of binding financial and non-financial information on KRUK S.A. The information presented herein should not be construed as a representation or warranty concerning the Company's future performance and results of operations. Neither KRUK S.A. nor any of the parties acting on its behalf shall be liable for any losses resulting from improper use of this presentation or any information contained herein. 29

KRUK S.A. ul. Wo owska 8 51-116 Wroc aw, Poland www.kruksa.pl Investor Relations: ir@kruksa.pl For investors: www.kruksa.pl/dla-inwestora