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PRA Group Reports Second Quarter 2025 Results

1. PRAA reported Q2 2025 net income of $42 million, up 96.9%. 2. Total cash collections of $536.3 million, increased 13.2% year-over-year. 3. Record estimated remaining collections (ERC) rose 21.9% to $8.3 billion. 4. Portfolio purchases decreased by 8.7% to $346.5 million compared to Q2 2024. 5. Adjusted EBITDA grew 16.4% to $1.2 billion over the past 12 months.

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Why Bullish?

The strong growth in net income and cash collections indicates robust operational performance, similar to historical positive trends following solid earnings reports.

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The article highlights significant financial metrics indicating strong company performance and growth potential, making it highly relevant to investors.

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Immediate investor response is likely due to the positive earnings report, akin to past quarterly results impacting stock value within weeks.

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Strong Portfolio Purchases at Attractive Returns Driving Record ERC; Double-Digit Cash Collections Growth with 60%+ Cash Efficiency Ratio Net Income Attributable to PRA Group, Inc. of $42 Million Includes Approximately $30 million After-tax Gain from Previously Announced Sale of RCB Equity Interest in Brazil; $10 Million of Shares Repurchased 16% Adjusted EBITDA Growth Outpaces 13% Cash Collections Growth Strong European Performance with Continued Focus on Transforming U.S. Business , /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA) (the "Company"), a global leader in acquiring and collecting nonperforming loans, today reported its financial results for the second quarter of 2025 ("Q2 2025"). Q2 2025 Highlights (vs. Q2 2024) Total portfolio purchases of $346.5 million, down 8.7%, reflecting the lower target for full year 2025 of $1.2 billion compared to 2024 total portfolio purchases of $1.4 billion. Record estimated remaining collections (ERC)1 of $8.3 billion, up 21.9%. Total cash collections of $536.3 million, up 13.2%. Cash efficiency ratio2 of 62.4%, up 355 basis points. Net income attributable to PRA Group, Inc. of $42.4 million, up 96.9%, resulting in diluted earnings per share of $1.08. This includes a $29.7 million, or $0.75 per share, after-tax gain from the previously announced sale4 of the Company's equity interest in RCB, the servicing company for its nonperforming loan investments in Brazil. Adjusted EBITDA3 for the 12 months ended June 30, 2025 of $1.2 billion, up 16.4%. 1. Refers to the sum of all future projected cash collections on the Company's nonperforming loan portfolios. 2. Calculated by dividing cash receipts less operating expenses by cash receipts. Cash receipts refers to cash collections on the Company's nonperforming loan portfolios, fees and revenue recognized from the Company's class action claims recovery services. 3. A reconciliation of net income, the most directly comparable financial measure calculated and reported in accordance with GAAP, to Adjusted EBITDA can be found at the end of this press release. 4. This transaction does not impact the Company's ownership of any portfolios in Brazil, nor its existing operations or future portfolio investment opportunities in this market.  Three Months Ended June 30, Six Months Ended June 30, ($ in thousands, except per share amounts) 2025 2024 2025 2024 Net income attributable to PRA Group, Inc. $              42,374 $             21,516 $              46,033 $             24,991 Diluted earnings per share $                  1.08 $                 0.54 $                  1.16 $                 0.63 "The second quarter represented another positive step in our journey of creating sustained shareholder value," said Martin Sjolund, president and chief executive officer. "We had another period of robust portfolio investments at attractive purchase price multiples, record ERC, and improved portfolio income as we continue to focus on high-return opportunities. Improvement in our cash efficiency ratio reflects the work we have been doing to increase cash collections and manage expenses, leading to Adjusted EBITDA growth that outpaced cash collections growth."  "More importantly, we have hit the ground running since I've stepped into the CEO role. Building on PRA's global scale and strong foundation, we are working with urgency to drive a meaningful improvement in our financial and operational results over the long term. Leveraging my experience strengthening and growing our European business with a proven multi-year track record of performance, we are accelerating the transformation of our U.S. business across our three strategic pillars: optimizing investments, operational execution, and managing expenses. I have confidence in our ability to develop PRA into the leading player in our industry, and look forward to building on our momentum." Cash Collections and RevenuesThe following table presents cash collections by quarter and by source on an as reported and constant currency-adjusted basis: Cash Collection Source 2025 2024 ($ in thousands) Q2 Q1 Q4 Q3 Q2 Americas and Australia Core $       301,698 $       288,160 $       257,711 $       266,977 $       263,828 Americas Insolvency 24,329 23,700 24,067 26,065 26,971 Europe Core 185,652 164,371 162,564 158,242 156,739 Europe Insolvency 24,609 21,205 23,724 25,826 26,344 Total cash collections $       536,288 $       497,436 $       468,066 $       477,110 $       473,882 Cash Collection Source - Constant Currency-Adjusted 2025 2024 ($ in thousands) Q2 Q2 Americas and Australia Core $       301,698 $       260,348 Americas Insolvency 24,329 26,935 Europe Core 185,652 166,348 Europe Insolvency 24,609 27,897 Total cash collections $       536,288 $       481,528 Total cash collections in Q2 2025 increased 13.2% to $536.3 million, compared to $473.9 million in the second quarter of 2024 ("Q2 2024"). Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2025 2024 2025 2024 Portfolio income $          250,934 $           209,290 $          491,892 $         411,346 Recoveries collected in excess of forecast $            40,302 $             54,260 $            56,802 $           90,098 Changes in expected future recoveries (7,010) 19,060 4,412 34,896 Changes in expected recoveries $            33,292 $             73,320 $            61,214 $         124,994 Total portfolio revenue $          284,226 $           282,610 $          553,106 $         536,340 Portfolio income in Q2 2025 increased 19.9% to $250.9 million, compared to $209.3 million in Q2 2024. Total portfolio revenue in Q2 2025 increased 0.6% to $284.2 million, compared to $282.6 million in Q2 2024. Expenses Operating expenses in Q2 2025 increased 3.9% to $202.6 million, compared to $195.0 million in Q2 2024. The increase was primarily due to increased investment in call center offshoring to provide greater operating flexibility as that channel continues to scale, as well as continued investments in our U.S. legal collections channel to drive future cash collections growth. Interest expense, net in Q2 2025 increased 12.6% to $62.4 million, compared to $55.4 million in Q2 2024, primarily reflecting higher debt balances to support portfolio investments. The effective tax rate for the six months ended June 30, 2025 was 26.5%. Portfolio Purchases Portfolio Purchase Source 2025 2024 ($ in thousands) Q2 Q1 Q4 Q3 Q2 Americas & Australia Core $       177,097 $         165,503 $         194,063 $         263,613 $         198,761 Americas Insolvency 22,186 12,953 9,460 10,162 26,627 Europe Core 142,465 108,390 220,875 71,507 127,991 Europe Insolvency 4,757 4,856 8,272 4,696 25,990 Total portfolio acquisitions $       346,505 $         291,702 $         432,670 $         349,978 $         379,369 The Company purchased $346.5 million in portfolios of nonperforming loans in Q2 2025, an 8.7% decrease compared to $379.4 million in Q2 2024. At the end of Q2 2025, the Company had in place estimated forward flow commitments1 of $311.2 million over the next 12 months, comprised of $210.6 million in the Americas and Australia and $100.5 million in Europe. 1. Contractual agreements with sellers of nonperforming loans that allow for the purchase of nonperforming loan portfolios at pre-established prices. These amounts represent our estimated forward flow purchases over the next 12 months under the agreements in place based on projections and other factors, including sellers' estimates of future forward flow sales, and are dependent on actual delivery by the sellers and, in some cases, the impact of foreign exchange rate fluctuations. Accordingly, amounts purchased under these agreements may vary significantly. Credit Availability Total availability under the Company's credit facilities as of June 30, 2025 was $840.7 million, comprised of $521.6 million based on current ERC and subject to debt covenants, and $319.1 million of additional availability subject to borrowing base and debt covenants, including advance rates. Conference Call InformationPRA Group, Inc. will hold a conference call today at 5:00 p.m. ET to discuss its financial and operational results. To listen to a webcast of the call and view the accompanying slides, visit https://ir.pragroup.com/events-and-presentations. To listen by phone, call 646-357-8785 in the U.S. or 1-800-836-8184 outside the U.S. and ask for the PRA Group conference call. To listen to a replay of the call, either visit the same website until August 4, 2026, or call 646-517-4150 in the U.S. or 1-888-660-6345 outside the U.S. and use access code 58095# until August 11, 2025. About PRA Group, Inc.As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe, and Australia. With thousands of employees worldwide, PRA Group, Inc. companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com. About Forward Looking StatementsStatements made herein that are not historical in nature, including PRA Group, Inc.'s or its management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based upon management's current beliefs, estimates, assumptions and expectations of PRA Group, Inc.'s future operations and financial and economic performance, taking into account currently available information. These statements are not statements of historical fact or guarantees of future performance, and there can be no assurance that anticipated events will transpire or that the Company's expectations will prove to be correct. Forward-looking statements involve risks and uncertainties, some of which are not currently known to PRA Group, Inc. Actual events or results may differ materially from those expressed or implied in any such forward-looking statements as a result of various factors, including the risk factors and other risks that are described from time to time in PRA Group, Inc.'s filings with the Securities and Exchange Commission, including PRA Group, Inc.'s annual reports on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K, which are available through PRA Group, Inc.'s website and contain a detailed discussion of PRA Group, Inc.'s business, including risks and uncertainties that may affect future results. Due to such uncertainties and risks, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of today. Information in this press release may be superseded by more recent information or statements, which may be disclosed in later press releases, subsequent filings with the Securities and Exchange Commission or otherwise. Except as required by law, PRA Group, Inc. assumes no obligation to publicly update or revise its forward-looking statements contained herein to reflect any change in PRA Group, Inc.'s expectations with regard thereto or to reflect any change in events, conditions or circumstances on which any such forward-looking statements are based, in whole or in part. PRA Group, Inc. Unaudited Consolidated Income Statements (Amounts in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues Portfolio income $          250,934 $         209,290 $         491,892 $           411,346 Changes in expected recoveries 33,292 73,320 61,214 124,994 Total portfolio revenue 284,226 282,610 553,106 536,340 Other revenue 3,462 1,619 4,201 3,475 Total revenues 287,688 284,229 557,307 539,815 Operating expenses Compensation and benefits 75,724 74,241 149,047 147,838 Legal collection costs 37,583 35,274 70,977 61,965 Legal collection fees 15,625 13,762 30,855 25,874 Agency fees 22,688 21,008 44,056 40,731 Professional and outside services 21,071 18,124 42,174 43,174 Communication 9,417 11,577 19,894 24,155 Rent and occupancy 3,504 4,136 6,984 8,280 Depreciation, amortization and impairment 2,503 2,637 6,272 5,357 Other operating expenses 14,462 14,248 27,360 26,823 Total operating expenses 202,577 195,007 397,619 384,197     Income from operations 85,111 89,222 159,688 155,618 Other income/(expense) Interest expense, net (62,361) (55,353) (123,331) (107,631) Gain on sale of equity method investment 38,403 — 38,403 — Foreign exchange (loss)/gain, net 50 (99) (1) 128 Other (75) 46 (255) (160) Income before income taxes 61,128 33,816 74,504 47,955 Income tax expense 15,415 8,702 19,727 11,088 Net income 45,713 25,114 54,777 36,867 Net income attributable to noncontrolling interests 3,339 3,598 8,744 11,876 Net income attributable to PRA Group, Inc. $            42,374 $           21,516 $            46,033 $              24,991 Net income per common share attributable to PRA Group, Inc. Basic $                1.08 $               0.55 $                1.17 $                  0.64 Diluted $                1.08 $               0.54 $                1.16 $                  0.63 Weighted average number of shares outstanding Basic 39,323 39,364 39,436 39,319 Diluted 39,385 39,546 39,536 39,497 PRA Group, Inc. Consolidated Balance Sheets (Amounts in thousands) (unaudited) June 30,2025 December 31,2024 ASSETS Cash and cash equivalents $                131,592 $                105,938 Investments 66,500 66,304 Finance receivables, net 4,562,576 4,140,742 Income taxes receivable 24,136 19,559 Deferred tax assets, net 92,226 75,134 Right-of-use assets 26,268 32,173 Property and equipment, net 26,391 29,498 Goodwill 439,449 396,357 Other assets 65,629 65,450 Total assets $             5,434,767 $             4,931,155 LIABILITIES AND EQUITY Liabilities Accrued expenses and accounts payable $                124,103 $                141,211 Income taxes payable 37,549 28,584 Deferred tax liabilities, net 22,460 16,813 Lease liabilities 29,453 36,437 Interest-bearing deposits 168,656 163,406 Borrowings 3,614,208 3,326,621 Other liabilities 41,727 24,476 Total liabilities 4,038,156 3,737,548 Equity Preferred stock, $0.01 par value, 2,000 shares authorized, no shares issued andoutstanding — — Common stock, $0.01 par value, 100,000 shares authorized, 39,074 shares issuedand outstanding as of June 30, 2025; 100,000 shares authorized, 39,510 sharesissued and outstanding as of December 31, 2024 391 395 Additional paid-in capital 14,086 17,882 Retained earnings 1,606,182 1,560,149 Accumulated other comprehensive loss (283,734) (443,394) Total stockholders' equity - PRA Group, Inc. 1,336,925 1,135,032 Noncontrolling interests 59,686 58,575 Total equity 1,396,611 1,193,607 Total liabilities and equity $             5,434,767 $             4,931,155 Select Expenses (Income) Amounts in thousands, pre-tax Three Months Ended June 30,2025 March 31,2025 December 31,2024 September 30,2024 June 30,2024 March 31,2024 December 31,2023 September 30,2023 Noncash interest expense - amortization of debtpremium and issuance costs $       1,962 $       1,901 $         2,241 $           3,795 $        2,331 $        2,200 $         2,177 $          2,220 Change in fair value ofderivatives (1,748) (2,570) (4,686) (5,706) (5,628) (5,930) (6,734) (6,545) Amortization of intangibles 52 49 58 60 58 60 69 69 Impairment of real estate — 831 — — — — 202 5,037 Stock-based compensation expense 4,465 3,788 3,337 3,251 3,555 3,327 2,952 1,629 Purchase Price Multiples as of June 30, 2025 Amounts in thousands Purchase Period Purchase Price (1)(2) Total Estimated Collections (3) Estimated Remaining Collections (4) Current Purchase Price Multiple Original PurchasePrice Multiple (5) Americas and Australia Core 1996-2014 $                  2,336,839 $              6,681,453 $                  78,176 286 % 228 % 2015 443,114 927,720 39,069 209 % 205 % 2016 455,767 1,100,505 50,637 241 % 201 % 2017 532,851 1,228,005 77,204 230 % 193 % 2018 653,975 1,547,865 112,494 237 % 202 % 2019 581,476 1,320,124 100,069 227 % 206 % 2020 435,668 961,557 108,427 221 % 213 % 2021 435,846 736,580 207,580 169 % 191 % 2022 406,082 720,041 264,772 177 % 179 % 2023 622,583 1,214,966 676,089 195 % 197 % 2024 823,662 1,734,516 1,394,320 211 % 211 % 2025 343,542 733,858 702,763 214 % 214 % Subtotal 8,071,405 18,907,190 3,811,600 Americas Insolvency 1996-2014 1,414,476 2,723,019 2 193 % 155 % 2015 63,170 88,194 6 140 % 125 % 2016 91,442 118,534 75 130 % 123 % 2017 275,257 359,352 521 131 % 125 % 2018 97,879 136,921 203 140 % 127 % 2019 123,077 167,454 682 136 % 128 % 2020 62,130 90,738 5,352 146 % 136 % 2021 55,187 74,574 12,891 135 % 136 % 2022 33,442 47,809 18,764 143 % 139 % 2023 91,282 119,901 69,577 131 % 135 % 2024 68,391 99,619 76,563 146 % 149 % 2025 35,189 55,793 55,042 159 % 159 % Subtotal 2,410,922 4,081,908 239,678 Total Americas and Australia 10,482,327 22,989,098 4,051,278 Europe Core 1996-2014 814,553 2,694,589 400,652 331 % 205 % 2015 411,340 766,350 127,274 186 % 160 % 2016 333,090 588,053 149,219 177 % 167 % 2017 252,174 364,311 89,269 144 % 144 % 2018 341,775 562,173 169,822 164 % 148 % 2019 518,610 872,535 307,692 168 % 152 % 2020 324,119 596,976 237,210 184 % 172 % 2021 412,411 723,959 372,728 176 % 170 % 2022 359,447 589,618 415,912 164 % 162 % 2023 410,593 695,957 527,680 170 % 169 % 2024 451,786 816,563 794,892 181 % 180 % 2025 264,668 481,332 469,955 182 % 182 % Subtotal 4,894,566 9,752,416 4,062,305 Europe Insolvency 2014 10,876 19,178 — 176 % 129 % 2015 18,973 29,587 — 156 % 139 % 2016 39,338 58,295 528 148 % 130 % 2017 39,235 52,549 396 134 % 128 % 2018 44,908 53,277 1,134 119 % 123 % 2019 77,218 114,367 7,026 148 % 130 % 2020 105,440 161,278 13,288 153 % 129 % 2021 53,230 77,420 16,550 145 % 134 % 2022 44,604 64,543 29,617 145 % 137 % 2023 46,558 66,232 44,836 142 % 138 % 2024 43,459 64,128 52,365 148 % 147 % 2025 10,186 15,399 14,987 151 % 151 % Subtotal 534,025 776,253 180,727 Total Europe 5,428,591 10,528,669 4,243,032 Total PRA Group $                15,910,918 $            33,517,767 $              8,294,310 (1) Includes the acquisition date finance receivables portfolios that were acquired through our business acquisitions. (2) Non-U.S. amounts are presented at the exchange rate at the end of the period in which the portfolio was purchased. In addition, any purchase price adjustments that occur throughout the life of the portfolio are presented at the period-end exchange rate for the respective period of purchase. (3) Non-U.S. amounts are presented at the period-end exchange rate for the respective period of purchase. (4) Non-U.S. amounts are presented at the June 30, 2025 exchange rate. (5) The original purchase price multiple represents the purchase price multiple at the end of the period of acquisition. Portfolio Financial Information (1) Amounts in thousands June 30, 2025 (year-to-date) As of June 30, 2025 Purchase Period Cash Collections (2) PortfolioIncome (2) Change inExpected Recoveries (2) Total PortfolioRevenue (2) Net Finance Receivables (3) Americas and Australia Core 1996-2014 $               23,044 $               10,330 $               10,120 $               20,450 $                                26,393 2015 7,178 4,293 (718) 3,575 16,724 2016 9,619 5,698 955 6,653 18,634 2017 15,270 7,890 3,210 11,100 32,512 2018 26,944 11,767 3,909 15,676 58,310 2019 26,477 11,886 (2,579) 9,307 52,962 2020 29,633 12,447 (2,096) 10,351 58,619 2021 34,910 18,512 (3,173) 15,339 107,468 2022 49,942 21,982 (59) 21,923 157,702 2023 124,806 62,995 (24,093) 38,902 369,079 2024 211,045 128,793 8,423 137,216 732,714 2025 30,990 23,444 4,794 28,238 340,417 Subtotal 589,858 320,037 (1,307) 318,730 1,971,534 Americas Insolvency 1996-2014 501 13 494 507 — 2015 60 4 52 56 4 2016 162 11 84 95 67 2017 596 57 309 366 463 2018 624 23 280 303 189 2019 1,701 63 378 441 644 2020 5,937 533 (504) 29 5,083 2021 6,362 915 193 1,108 11,809 2022 5,559 1,154 339 1,493 16,338 2023 14,789 4,316 487 4,803 57,511 2024 10,990 5,672 (1,370) 4,302 56,047 2025 748 1,019 512 1,531 35,689 Subtotal 48,029 13,780 1,254 15,034 183,844 Total Americas and Australia 637,887 333,817 (53) 333,764 2,155,378 Europe Core 1996-2014 48,559 29,327 12,846 42,173 90,532 2015 14,747 6,024 5,641 11,665 62,911 2016 13,241 5,837 2,311 8,148 84,225 2017 7,861 2,879 (1,468) 1,411 59,384 2018 17,709 6,247 1,880 8,127 109,923 2019 31,282 9,921 10,728 20,649 207,280 2020 23,120 8,660 7,602 16,262 144,188 2021 30,880 12,868 5,256 18,124 225,257 2022 35,193 13,631 975 14,606 261,956 2023 47,512 19,141 3,134 22,275 315,245 2024 68,963 29,804 1,798 31,602 442,315 2025 10,956 4,527 2,271 6,798 259,519 Subtotal 350,023 148,866 52,974 201,840 2,262,735 Europe Insolvency 2014 82 — 82 82 — 2015 87 — 87 87 — 2016 289 42 233 275 136 2017 626 24 398 422 261 2018 976 52 288 340 972 2019 3,678 362 339 701 6,034 2020 9,302 728 1,440 2,168 12,348 2021 7,341 898 2,087 2,985 14,880 2022 7,844 1,505 1,514 3,019 25,059 2023 7,721 2,191 1,075 3,266 36,493 2024 7,472 3,113 660 3,773 38,113 2025 396 294 90 384 10,167 Subtotal 45,814 9,209 8,293 17,502 144,463 Total Europe 395,837 158,075 61,267 219,342 2,407,198 Total PRA Group $          1,033,724 $             491,892 $               61,214 $             553,106 $                            4,562,576 (1) Includes the nonperforming loan portfolios that were acquired through our business acquisitions. (2) Non-U.S. amounts are presented using the average exchange rates during the current reporting period.  (3) Non-U.S. amounts are presented at the June 30, 2025 exchange rate. Cash Collections by Year, By Year of Purchase (1) as of June 30, 2025 Amounts in millions Cash Collections Purchase Period Purchase Price (2)(3) 1996-2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Total Americas and Australia Core 1996-2014 $       2,336.8 $  4,371.9 $ 727.8 $ 470.0 $ 311.2 $ 222.5 $ 155.0 $   96.6 $   68.8 $   51.0 $   40.2 $   49.4 $   23.0 $ 6,587.4 2015 443.1 — 117.0 228.4 185.9 126.6 83.6 57.2 34.9 19.5 14.1 17.3 7.2 891.7 2016 455.8 — — 138.7 256.5 194.6 140.6 105.9 74.2 38.4 24.9 24.0 9.6 1007.4 2017 532.9 — — — 107.3 278.7 256.5 192.5 130.0 76.3 43.8 39.2 15.3 1139.6 2018 654.0 — — — — 122.7 361.9 337.7 239.9 146.1 92.9 75.9 26.9 1404.0 2019 581.5 — — — — — 143.8 349.0 289.8 177.7 110.3 77.7 26.5 1174.8 2020 435.7 — — — — — — 132.9 284.3 192.0 125.8 87.0 29.6 851.6 2021 435.8 — — — — — — — 85.0 177.3 136.8 98.4 34.9 532.4 2022 406.1 — — — — — — — — 67.7 195.4 144.7 49.9 457.7 2023 622.5 — — — — — — — — — 108.5 285.9 124.8 519.2 2024 823.7 — — — — — — — — — — 145.9 211.0 356.9 2025 343.5 — — — — — — — — — — — 31.0 31.0 Subtotal 8,071.4 4,371.9 844.8 837.1 860.9 945.1 1,141.4 1,271.8 1,206.9 946.0 892.7 1,045.4 589.7 14,953.7 Americas Insolvency 1996-2014 1,414.5 1,949.8 340.8 213.0 122.9 59.1 22.6 5.8 3.3 2.3 1.5 1.3 0.5 2,722.9 2015 63.2 — 3.4 17.9 20.1 19.8 16.7 7.9 1.3 0.6 0.3 0.2 0.1 88.3 2016 91.4 — — 18.9 30.4 25.0 19.9 14.4 7.4 1.8 0.9 0.6 0.2 119.5 2017 275.3 — — — 49.1 97.3 80.9 58.8 44.0 20.8 4.9 2.5 0.6 358.9 2018 97.9 — — — — 6.7 27.4 30.5 31.6 24.6 12.7 2.5 0.6 136.6 2019 123.1 — — — — — 13.4 31.4 39.1 37.8 28.7 14.6 1.7 166.7 2020 62.1 — — — — — — 6.5 16.1 20.4 19.5 17.0 5.9 85.4 2021 55.2 — — — — — — — 4.6 17.9 17.5 15.3 6.4 61.7 2022 33.4 — — — — — — — — 3.2 9.2 11.1 5.6 29.1 2023 91.2 — — — — — — — — — 9.0 25.1 14.8 48.9 2024 68.4 — — — — — — — — — — 12.1 11.0 23.1 2025 35.2 — — — — — — — — — — — 0.7 0.7 Subtotal 2,410.9 1,949.8 344.2 249.8 222.5 207.9 180.9 155.3 147.4 129.4 104.2 102.3 48.1 3,841.8 Total Americas and Australia 10,482.3 6,321.7 1,189.0 1,086.9 1,083.4 1,153.0 1,322.3 1,427.1 1,354.3 1,075.4 996.9 1,147.7 637.8 18,795.5 Europe Core 1996-2014 814.5 195.1 297.5 249.9 224.1 209.6 175.3 151.7 151.0 123.6 108.6 101.7 48.6 2,036.7 2015 411.3 — 45.8 100.3 86.2 80.9 66.1 54.3 51.4 40.7 33.8 30.4 14.7 604.6 2016 333.1 — — 40.4 78.9 72.6 58.0 48.3 46.7 36.9 29.7 27.4 13.2 452.1 2017 252.2 — — — 17.9 56.0 44.1 36.1 34.8 25.2 20.2 17.9 7.9 260.1 2018 341.8 — — — — 24.3 88.7 71.3 69.1 50.7 41.6 37.1 17.7 400.5 2019 518.6 — — — — — 48.0 125.7 121.4 89.8 75.1 68.2 31.3 559.5 2020 324.1 — — — — — — 32.3 91.7 69.0 56.1 50.1 23.1 322.3 2021 412.4 — — — — — — — 48.5 89.9 73.0 66.6 30.9 308.9 2022 359.4 — — — — — — — — 33.9 83.8 74.7 35.2 227.6 2023 410.6 — — — — — — — — — 50.2 103.1 47.5 200.8 2024 451.9 — — — — — — — — — — 46.3 69.0 115.3 2025 264.7 — — — — — — — — — — — 11.0 11.0 Subtotal 4,894.6 195.1 343.3 390.6 407.1 443.4 480.2 519.7 614.6 559.7 572.1 623.5 350.1 5,499.4 Europe Insolvency 2014 10.9 — 4.3 3.9 3.2 2.6 1.5 0.8 0.3 0.2 0.2 0.2 0.1 17.3 2015 19.0 — 3.0 4.4 5.0 4.8 3.9 2.9 1.6 0.6 0.4 0.2 0.1 26.9 2016 39.3 — — 6.2 12.7 12.9 10.7 7.9 6.0 2.7 1.3 0.8 0.3 61.5 2017 39.2 — — — 1.2 7.9 9.2 9.8 9.4 6.5 3.8 1.5 0.6 49.9 2018 44.9 — — — — 0.6 8.4 10.3 11.7 9.8 7.2 3.5 1.0 52.5 2019 77.2 — — — — — 5.0 21.1 23.9 21.0 17.5 12.9 3.7 105.1 2020 105.4 — — — — — — 6.0 34.6 34.1 29.7 25.5 9.3 139.2 2021 53.2 — — — — — — — 5.5 14.4 14.7 15.4 7.3 57.3 2022 44.6 — — — — — — — — 4.5 12.4 15.2 7.8 39.9 2023 46.7 — — — — — — — — — 4.2 12.7 7.7 24.6 2024 43.4 — — — — — — — — — — 9.5 7.5 17.0 2025 10.2 — — — — — — — — — — — 0.4 0.4 Subtotal 534.0 — 7.3 14.5 22.1 28.8 38.7 58.8 93.0 93.8 91.4 97.4 45.8 591.6 Total Europe 5,428.6 195.1 350.6 405.1 429.2 472.2 518.9 578.5 707.6 653.5 663.5 720.9 395.9 6,091.0 Total PRA Group $     15,910.9 $  6,516.8 $  1,539.6 $  1,492.0 $  1,512.6 $  1,625.2 $  1,841.2 $  2,005.6 $  2,061.9 $  1,728.9 $  1,660.4 $  1,868.6 $  1,033.7 $  24,886.5 (1) Non-U.S. amounts are presented at the average exchange rates during the cash collections period. (2) Includes the acquisition date finance receivables portfolios acquired through our business acquisitions. (3) Non-U.S. amounts are presented at the exchange rate at the end of the period in which the portfolio was purchased. In addition, any purchase price adjustments that occur throughout the life of the pool are presented at the period-end exchange rate for the respective period of purchase. Use of Non-GAAP Financial MeasuresThe Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management uses certain non-GAAP financial measures, including Adjusted EBITDA, internally to evaluate the Company's performance and to set performance goals. Adjusted EBITDA is calculated as net income attributable to PRA Group, Inc. plus income tax expense; plus interest expense, net; plus other expense; plus depreciation and amortization; plus impairment of real estate; plus net income attributable to noncontrolling interests; less gain on sale of equity method investment; and plus recoveries collected and applied to Finance receivables, net less Changes in expected recoveries. Adjusted EBITDA is a supplemental measure of performance that is not required by, or presented in accordance with, GAAP. The Company presents Adjusted EBITDA because the Company considers it an important supplemental measure of its operational and financial performance. Management believes Adjusted EBITDA helps provide enhanced period-to-period comparability of the Company's operational and financial performance as it excludes certain items whose fluctuations from period-to-period do not necessarily correspond to changes in the operations of the Company's business, and is useful to investors as other companies in the industry report similar financial measures. Adjusted EBITDA should not be considered as an alternative to net income determined in accordance with GAAP. Set forth below is a reconciliation of net income, the most directly comparable financial measure calculated and reported in accordance with GAAP, to Adjusted EBITDA for the last twelve months (LTM) ended June 30, 2025 and for the year ended December 31, 2024. The calculation of Adjusted EBITDA below may not be comparable to the calculation of similarly titled measures reported by other companies. LTM For the Year Ended Adjusted EBITDA Reconciliation ($ in thousands) June 30, 2025 December 31, 2024 Net income attributable to PRA Group, Inc. $                            91,643 $                            70,601 Adjustments: Income tax expense 29,671 21,032 Foreign exchange loss 138 9 Interest expense, net 244,967 229,267 Other expense 946 851 Depreciation and amortization 10,876 10,792 Impairment of real estate 831 — Net income attributable to noncontrolling interests 14,840 17,972 Gain on sale of equity method investment (38,403) — Recoveries collected and applied to Finance receivables, net lessChanges in expected recoveries 884,583 787,028 Adjusted EBITDA $                      1,240,092 $                      1,137,552 In addition, the Company uses return on average tangible equity ("ROATE"), which is a supplemental measure of performance that is not required by, or presented in accordance with, GAAP, to monitor and evaluate operating performance relative to the Company's equity. Management believes ROATE is a useful financial measure for investors in evaluating the effective use of equity, and is an important component of its long-term stockholder return. Average tangible equity is defined as average Total stockholders' equity - PRA Group, Inc. less average goodwill and average other intangible assets. ROATE is calculated by dividing annualized Net income attributable to PRA Group, Inc. by average tangible equity. ROATE may include certain items that are not indicative of the operating results of the Company's portfolio. Accordingly, the Company also uses Adjusted ROATE, which is defined as ROATE excluding the impact of gains/losses from the sale of equity method investments, to monitor and evaluate operating performance relative to the Company's equity. Management believes that Adjusted ROATE is a useful financial measure for investors because it excludes the impact of gains/losses that are not indicative of the operating results of the Company's portfolio. The following table provides a reconciliation of Total stockholders' equity - PRA Group, Inc. as reported in accordance with GAAP to average tangible equity. The table also provides a reconciliation of net income attributable to PRA Group, Inc. to adjusted net income attributable to PRA Group, Inc. and provides the Company's ROATE and Adjusted ROATE for the periods indicated (in thousands, except for ratio data): Average Tangible Equity Reconciliation (1) Balance as of Period End Second Quarter Year-to-Date June 30, 2025 June 30, 2024 2025 2024 2025 2024 Total stockholders' equity - PRA Group, Inc. $       1,336,925 $       1,145,463 $  1,278,016 $  1,137,395 $  1,230,355 $  1,147,300 Less: Goodwill 439,449 415,646 430,082 413,746 418,840 419,685 Less: Other intangible assets 1,541 1,597 1,515 1,632 1,494 1,668 Average tangible equity $     846,419 $     722,017 $     810,021 $     725,947 ROATE (2) Second Quarter Year-to-Date 2025 2024 2025 2024 Net income attributable to PRA Group, Inc. $       42,374 $       21,516 $       46,033 $       24,991 Return on average tangibleequity 20.0 % 11.9 % 11.4 % 6.9 % Adjusted ROATE (3) Second Quarter Year-to-Date 2025 2024 2025 2024 Net income attributable to PRA Group, Inc. $42,374 $21,516 $46,033 $24,991 Less: Gain on sale of equitymethod investment, net of tax $      (29,686) $              — $      (29,686) $               — Adjusted net incomeattributable to PRA Group, Inc. $12,688 $21,516 $16,347 $24,991 Adjusted ROATE 6.0 % 11.9 % 4.0 % 6.9 % 1. Amounts represent the average balances for the respective periods. Equity balances are not adjusted for gain on sale of equity method investment, which would have a de minimus effect on Adjusted ROATE. 2. Based on annualized Net income attributable to PRA Group, Inc. 3. Based on annualized Adjusted net income attributable to PRA Group, Inc. Investor Contact:Najim Mostamand, CFAVice President, Investor Relations757-431-7913[email protected] News Media Contact:Giovanna GenardVice President, Global Communications and External Affairs | Marketing Leader(757) 282-3343[email protected] SOURCE PRA Group, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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