Pra Group, Inc. · NASDAQ:PRAA
Pra — 2026 Raymond James Conference
20 slides from Pra's conference presentation, Mar 3, 2026
Slide 1: 2026 Raymond James Conference Presentation
2026 Raymond James Conference Presentation Nasdaq: PRAA
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation, other than statements of historical fact, are forward-looking statements, which are based on our current beliefs, projections, assumptions and expectations concerning future operations and financial performance. Such statements involve unce
Slide 3: We Are a Global Leader in Acquiring and Collecting Nonperforming Loans (NPLs)
We Are a Global Leader in Acquiring and Collecting Nonperforming Loans (NPLs) Key Highlights Key Stats 1. 30 years in business, led by highly experienced 1 management team 2. Significant global scale and diversification across 18 $1.2B $2.1B 2 countries 2025 Portfolio 2025 Cash Purchases Collections
Slide 4: We Have Come a Long Way in the Last Three Years
We Have Come a Long Way in the Last Three Years 2025 Was Another Year of Significant Improvement, with Key Metrics Trending Positively $ in millions 3rd Highest Annual Purchases Level in Company History Double-Digit Collections Growth w/ 60%+ Adjusted Cash Efficiency Portfolio Purchases Cash Collect
Slide 5: The Global NPL Market Offers Attractive Returns to Those Who Can Successfully Navigate It
The Global NPL Market Offers Attractive Returns to Those Who Can Successfully Navigate It $ in millions Globally Diversified Market • Looking at the past 20 years of our data through Portfolio Purchases various cycles: $1,408 • During a strong economy: $1,289 $1,209 $1,154 o NPL supply tends to decl
Slide 6: Our Three-Year Strategy is Designed to Position Us to Succeed in the Global NPL Market
Our Three-Year Strategy is Designed to Position Us to Succeed in the Global NPL Market Market Dynamics Strategic Posture • Highly efficient operations enabled by technology Cyclical • Flexible cost model • Patient long-term payment options • Diversified funding Capital Intensive • Staggered maturiti
Slide 7: PRA 3.0: Building a High-Performing, Technology-Enabled Global Allocator of Capital
PRA 3.0: Building a High-Performing, Technology-Enabled Global Allocator of Capital 1 Capital & Invest with Discipline – allocate capital to highest-return Investing opportunities 2 Operations, Tech Modernize the Engine – become leaner, more flexible, tech- & Data driven 3 Establish a Winning Cultur
Slide 8: Allocate Capital to the Highest-Return Opportunities
Allocate Capital to the Highest-Return Opportunities $ in billions Disciplined Global NPL Investor Portfolio Purchases • Disciplined & patient approach on capital deployment, prioritizing long-term returns over “growth for growth’s Highest sake” $1.4 • Focus on value: cost to collect, cash flow timi
Slide 9: Strong Diversified Funding and Prudent Capital Allocation Approach
Strong Diversified Funding and Prudent Capital Allocation Approach Multiple Levers to Drive Staggered Maturities (None in 2026) Shareholder Value Creation Debt Maturity Profile1 $ in millions 1 Prioritize disciplined portfolio purchases with $1,831 attractive returns $577 $550 $398 $352 $0 Nov $0 20
Slide 10: A Flexible, Lean, and Data-Driven Operating Model
A Flexible, Lean, and Data-Driven Operating Model Building flexible legal capabilities Optimizing balance between onshore • Internal: Building out capabilities. and offshore teams Automation, lower cost and more control • Onshore: Experience, complex • External: Access to channel and jurisdiction ca
Slide 11: Modernizing Our Technology Platform to Create Simplification, Flexibility and Efficiency
Modernizing Our Technology Platform to Create Simplification, Flexibility and Efficiency Europe Has a Strong Tech U.S Modernization is Future State Platform in Place Making Progress ✓ Already one European cloud • Transitioning from physical data • One global cloud platform by IT Infrastructure platf
Slide 12: AI Has the Potential to Transform PRA with Our Data, Scale, Technology, and Talent
AI Has the Potential to Transform PRA with Our Data, Scale, Technology, and Talent Proprietary data and We are testing a range We see significant large-scale processes of opportunities value in the future • Rich proprietary data sets • Leveraging global footprint to test AI • Generate additional cus
Slide 13: Continuing to Reduce Costs and Shifting to a More Variable Cost Structure
Continuing to Reduce Costs and Shifting to a More Variable Cost Structure Cost Control is a Mindset, Not a One-Off Project • Actions taken in 2025: • Eliminated 115+ corporate & overhead roles and reduced U.S. call center headcount by 548 agents (42%), while increasing U.S. Core cash by 20% vs. 2024
Slide 14: A High-Performance Culture with Incentives That Align Interests with Shareholders
A High-Performance Culture with Incentives That Align Interests with Shareholders Talent hubs in High- Clear metrics Incentives locations with performance on objectives aligned with strong talent culture with and key results shareholder pools entrepreneurial (OKRs) interests mindset 13 Nasdaq: PRAA
Slide 15: Bringing Together The Three Vectors of PRA 3.0 to Drive Improved Financial Results
Bringing Together The Three Vectors of PRA 3.0 to Drive Improved Financial Results Disciplined Growing Declining Higher Returns Investments Adjusted EBITDA1 Net Leverage2 $ in billions $ in billions $ in millions $1.4 $1.3 2.78x 2.83x 2.73x $1.0 $1.1 $1.2 $1.2 $71 $73 23 24 25 23 24 25 23 24 25 23 2
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management uses certain non-GAAP financial measures, including the non-GAAP financial measures referred to below, internally to evaluate the Company
Slide 17: Reconciliation of Net Income/(Loss) to Adjusted EBITDA and Calculation of Net Leverage
Reconciliation of Net Income/(Loss) to Adjusted EBITDA and Calculation of Net Leverage $ in millions Non-GAAP Financial Measures Set forth below is a reconciliation of net income/(loss) attributable to PRA Group, Inc. to Adjusted EBITDA for the last twelve months (LTM) as of March 31, 2023 through t
Slide 18: Reconciliation of Total Operating Expenses to Adjusted Operating Expenses and Adjusted Cash Efficiency Ratio
Reconciliation of Total Operating Expenses to Adjusted Operating Expenses and Calculation of Adjusted Cash Efficiency Ratio Non-GAAP Financial Measures The following table provides a reconciliation of Total operating expenses to Adjusted operating expenses and presents the Company's Adjusted cash ef
Slide 19: Reconciliation of Stockholders' Equity to Average Tangible Equity and Adjusted Net Income
Reconciliation of Total Stockholders’ Equity – PRA Group, Inc. to Average Tangible Equity and Reconciliation of Net Income/(Loss) Attributable to PRA Group, Inc. to Adjusted Net Income/(Loss) Attributable to PRA Non-GAAP Financial Measures The following table provides a reconciliation of Total stock
Slide 20: Najim Mostamand, CFA
Najim Mostamand, CFA VP, Investor Relations (757) 431-7913 IR@pragroup.com IR.PRAGROUP.COM