NORFOLK, Va., August 4, 2025 - 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").

•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%.

						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."

The following table presents cash collections by quarter and by source on an as reported and constant currency-adjusted basis:

•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.

•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%.

•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.

•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.

PRA 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.

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.

Statements 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.

(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.

(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.

(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.

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 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.

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):

Najim Mostamand, CFA

Vice President, Investor Relations

757-431-7913

IR@PRAGroup.com

Giovanna Genard

Vice President, Global Communications and External Affairs | Marketing Leader

(757) 282-3343

mediainquiries@pragroup.com

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.