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RAYMOND JAMES 41ST ANNUAL INSTITUTIONAL INVESTORS CONFERENCE

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Statements herein, other than statements of historical fact, are forward-looking statements,which are based on our current beliefs, projections, assumptions and expectationsconcerning future operations and financial performance. Such statements involveuncertainties and risks, some of which are not currently known to us, and may besuperseded by future events that could cause actual results to differ materially from thoseexpressed or implied herein. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of today, and are qualified in their entirety by thesecautionary statements. Information regarding risk factors and other information that couldchange our projections or impact our actual results can be found in our most recent AnnualReport on Form 10-K and in subsequent public filings, and should be considered inevaluating the forward looking statements herein. Except as required by law, we assume noobligation to update or revise these statements to reflect changes in events, conditions orcircumstances on which any such forward-looking statements are based, in whole or in part.

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Financial Overview

Company Overview

AGENDA

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GLOBAL LEADER IN PURCHASE & COLLECTION OF NONPERFORMING LOANS

Diversified geographically and by product type

Experience through economic cycles

Thousands of employees worldwide

Own portfolios in 17 countries, 12 languages and 12 currencies

Invested $1,289 million in 2019

Estimated remaining collections of $6.8 billion

European banking license

as of December 31, 2019

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PRA GROUP GLOBAL AREAS OF FOCUS

Data and Analytics

People and Talent

Operational Excellence

Customer Experience and Compliance

Long-term Approach to Building Sustainable Value

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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 2019 RESULTS

Cash collections of $1.3 billion

Stable trends in supply and returns

Invested $701 million in Americas Core and Insolvency

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EUROPE 2019 RESULTS

Record cash collections of $519 million

Invested $589 million and purchased portfolios in all nine operating markets in 2019

Increasing supply

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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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Financial Overview

Company Overview

AGENDA

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FINANCIAL RESULTS

Full Year 2019

Cash Collections $1,841.3

Total Revenues $1,017.1

Net Income Attributable to PRA Group, Inc. $86.2

Operating Expenses $745.4

Diluted EPS $1.89

($ in millions, except per share results)

Net Allowance Charges $24.0

Full Year 2018

$1,625.2

$908.3

$65.6

$689.6

$1.44

$33.4

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LONG HISTORY OF SUBSTANTIAL CASH RECEIPTS

Global Financial Crisis*

* Timing defined by the Federal Reserve Bank of St. Louis - https://www.stlouisfed.org/financial-crisis/full-timeline

$0

$500

$1,000

$1,500

$2,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Americas Core Cash Collections Europe Core Cash Collections Insolvency Cash Collections Fee Income

($ in millions)

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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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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Americas Core Europe Core Global Insolvency Aktiv Kapital

DEPLOYING CAPITAL PURCHASING NPLS

$62 $61$150 $112

$264 $280 $289$367 $408

$539

$657

$933

$1,109

$964

$705

$1,118

$1,241

Capital Available for Portfolio Purchases at December 31, 2019 - $554 million($ in millions, excludes portfolios associated with business acquisitions)

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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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