PROG Announces Acquisition of Purchasing Power

PROG Holdings, Inc.

Announces Acquisition of Purchasing Power December 2, 2025

PROG Holdings' Mission

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Accelerates our Mission by Expanding Financial Access Through a New, Scalable Customer Acquisition Channel

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(1) See Appendix for non-GAAP definitions. 4

Purchasing Power at a Glance

Purchasing Power is an e-commerce based platform whereby customers purchase goods and services and pay for those items in installments via direct payroll deduction or payroll allotment

• Moated B2B2C model where Purchasing Power is offered as a voluntary benefit to employees (customers) of the employer (client)

  • Go-to-market strategy powered by strong network of nationwide benefit brokers / partners and supplemented by growing direct sales force

• Provides access to over 7 million employees nationwide through its client relationships with over 360 established employers as well as public sector-related employers

• Sticky client relationships combined with consistent repeat buyer behavior provides predictability and visibility

• Increasing trend of employer offered voluntary benefits and focus on employee financial wellness to foster employee engagement and retention

2026E revenue

Established employer clients from diversified industries

of employees find Purchasing Power valuable(2)

of Purchasing Power's outstanding balance has payment terms of 12 months or less

Client revenue retention(1)

Relationships with distribution partners

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1. For a given year, represents the % of revenue from clients who joined the platform prior to the current year.

2. Based on Purchasing Power surveys.

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Purchasing Power Operating Model

Purchasing Power onboards a

client (employer)

Client (employer) offers Purchasing Power's service to its employees as a voluntary benefit

Employee registers with Purchasing Power and browses its site with over 70K unique SKUs

Employee makes a purchase

Payments are deducted

Employer (or TPA(1))

Purchasing Power places

an order with a vendor

Vendor ships the product

directly to the employee

from the employee's paycheck in installments

sends the payroll

deduction(2) amounts to Purchasing Power

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1. Third party administrator.

2. Some employee payments from public sector-related employers are made via payroll allotment.

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100+ Distribution Partners

Access to Customer Base at Scale

360+ Established Clients

Public Sector-Related Employers

~7mm+ Eligible

Employees Today

Brokers

Partners(1)

Internal Sales Force

A Limited Number of Purchasing Power Sales Resources…

…through its network of Benefit Brokers, Partners, and Direct Sales

…Can Reach

Hundreds of Clients…

…and Millions of Potential Customers…

Channel…

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(1) Includes technology platforms, HR tech providers, and affinity partners. 7

Compelling Value Proposition to Clients and Customers

360+ established employers, focusing on companies in industries with stable employee populations / low turnover and public sector-related employers

Client Base

Target employers with over 1K employees; average client has ~15K employees Diverse industry representation

Sticky, embedded relationships; 98% client revenue retention rate(1)

Eases financial stress and improves productivity

Increases employee loyalty / retention Improves employee morale and job satisfaction

Results in a free benefit at no cost to the employer

Customer Base

~7mm+ eligible employees

~54% female / ~46% male; ~48 average age(2)

~80% of customers have <650 Credit Score

Spending power known upfront Transparent, affordable payments

Vast selection of brand name products and services Convenient payment method

Median household income of ~$78K(2)Reduces financial stress

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(1) For a given year, represents the % of revenue from clients who joined the platform prior to the current year.

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(2) Metrics are based on 1Q25 Experian Data.

Breadth and Depth of Product Categories

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Acquisition Strengthens Current Ecosystem

Leading in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider

Direct to Consumer Buy Now, Pay Later (BNPL) payment platform

Grants customers short-term cash advances

Integrated Ecosystem

• Creates one of the most diversified payment solutions providers to the near and sub-prime market, intended to build a platform for sustained multi-year growth

• Provides access to a highly complementary employee-focused customer base with whom there is minimal overlap, enabling substantial expansion of current and new offerings

• Unique, voluntary employee benefit program provider allowing employees to purchase brand-name products through automatic payroll deductions

Innovative credit building financial management tool that aims to help improve customers' financial health

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