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Q4 2019CONFERENCE CALL PRESENTATION

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Statements herein, other than statements of historical fact, are forward-looking statements, whichare based on our current beliefs, projections, assumptions and expectations concerning futureoperations and financial performance. Such statements involve uncertainties and risks, some ofwhich are not currently known to us, and may be superseded by future events that could causeactual results to differ materially from those expressed or implied herein. You are cautioned not toplace undue reliance on forward-looking statements, which speak only as of today, and arequalified in their entirety by these cautionary statements. Information regarding risk factors andother information that could change our projections or impact our actual results can be found inour most recent Annual Report on Form 10-K and in subsequent public filings, and should beconsidered in evaluating the forward looking statements herein. Except as required by law, weassume no obligation to update or revise these statements to reflect changes in events, conditionsor circumstances on which any such forward-looking statements are based, in whole or in part.

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Record portfolio purchases* of $1.2 billion

Record global cash collections of $1.8 billion

Record revenue surpassing $1.0 billion for the first time

Record estimated remaining collections of $6.8 billion

LONG-TERM FOCUS AND DISCIPLINE DELIVERS A RECORD YEAR

*Portfolio purchases exclude finance receivables portfolios that were acquired through business acquisitions

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AMERICAS Q4 2019 RESULTS

Cash collections of $317 million

Stable trends in supply and returns

Invested $141 million in Americas Core and Insolvency

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EUROPE Q4 2019 RESULTS

Record cash collections in Europe

Invested $262 million and purchased portfolios in all nine operating markets in 2019

Increasing supply

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FINANCIAL RESULTS

Q4 2019 Q4 2018

Cash Collections $456.6 $402.7

Total Revenues $269.1 $236.7

Net Income Attributable to PRA Group, Inc. $27.3 $14.9

Operating Expenses $185.8 $183.1

Diluted EPS $0.60 $0.33

($ in millions, except per share results)

Net Allowance Charges $12.6 $21.4

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Americas Core, $276.6

Europe Core, $126.6

Global Insolvency,

$53.3

CASH COLLECTIONS($ in millions)

Americas Core, $1,141.5

Europe Core, $480.1

Global Insolvency,

$219.7

Fourth Quarter 2019 Full Year 2019

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Q4 2019 CASH EFFICIENCY RATIO OF 59.7%, 59.9% FULL YEAR($ in millions, Cash efficiency ratio = (cash receipts – operating expenses)/cash receipts)

$298 $383

$433

$592

$762

$971

$1,214

$1,444

$1,604 $1,569 $1,538 $1,640

$1,857

0%

10%

20%

30%

40%

50%

60%

70%

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Cash Receipts Cash Efficiency Ratio Insolvency as a % of Cash Collections

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ESTIMATED REMAINING COLLECTIONS AND AVAILABLE CAPITAL

Estimated Remaining Collections

($ in millions)

United States - $3,438

United Kingdom - $1,529

Central Europe - $726

Southern Europe - $218

Northern Europe - $458

Other Americas - $386

$554 Million Available for Portfolio Acquisitions

as of December 31, 2019

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THE IMPACT OF CECL ON THE FINANCIAL STATEMENTS

Remaining the Same Changing

Upon completion of initial booking, net finance receivables will still reflect purchase price

Use purchase price and total estimated collections to solve for effective interest rate

Revenue will still be calculated by net finance receivables multiplied by effective interest rate

Revenue will now be titled Portfolio Income Effective interest rate will not change regardless of

performance Changes in ERC will be recognized in the current

quarter through an income statement line titled “Changes in Estimated Recoveries”

Cash collections above or below what was expected in the current quarter will also be recognized in “Changes in Estimated Recoveries”

Present value of the change in ERC will be recorded as an increase or decrease to net finance receivables

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PRA GROUP IS IN A STRONG COMPETITIVE POSITION

Industry trends are promising

Efficient operations

Significant capital and cash generation to invest in portfolios

Favorable capital positions

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Q4 2019Q&A

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Q1 2020 ESTIMATED REVENUE MODEL - $ IN THOUSANDS