40th Annual Raymond James Conference

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 Such statements involve uncertainties and risks, some ofwhich are not currently known to us, and may be superseded by future events that could causeactual results to differ materially from those expressed or implied herein.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 are qualifiedin their entirety by these cautionary statements. Information regarding risk factors and otherinformation that could change our projections or impact our actual results can be found in our mostrecent Annual Report 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.

Financial Results

Company Overview

AGENDA

GLOBAL LEADER IN PURCHASE & COLLECTION OF NONPERFORMING LOANS

Diversified geographically and by product type

Experience through economic cycles

Nearly 5,400 employees worldwide

Own portfolios in 16 countries, 13 languages and 11 currencies

Headquarters

Invested $1.12 billion in 2018

Estimated remaining collections of $6.14 billion

European banking license

as of December 31, 2018

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LONG HISTORY OF GENERATING SUBSTANTIAL CASH RECEIPTS

Global Financial Crisis*

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

(USD in millions)

$0

$500

$1,000

$1,500

$2,000

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

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

FULL YEAR 2018 HIGHLIGHTS – RECENT INVESTMENTS DELIVERED RECORD CASH COLLECTIONS OF $1.63 BILLION

Record portfolio investment in Americas Core of $657.1 million

Portfolio investment and new call centers drove record cash collection in U.S. call centers

Digital cash collections have doubled since 2017

Legal cash collections increased 24% in Q4 2018 compared to Q4 2017

Operational improvements in Europe

PAST INVESTMENTS CONTINUE DELIVERING VALUE

NCM purchase in 2012 perpetuated expansion into new asset class in 2017 and 2018

Purchase of Aktiv Kapital provided pan-European footprint and diversification

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THE AMERICAS

Collector Tenure

United States, $3,484

Other Americas,

$199

Americas ERC Breakdown

$ in millions, as of December 31, 2018

Areas of Focus

Legal Channel

Government Relations

Digital Engagement

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EUROPE

Cash collections in 2018 were a record

Focused on specific deliverables in local markets

Invested over 26% more in Europe Core portfolios during full year 2018 than in full

year 2017

Environment is still competitive

Expand market share in the countries we already operate in

UK, $1,217

Central Europe,

$589

Northern Europe,

$468

Southern Europe,

$187

Europe ERC Breakdown

$ in millions, as of December 31, 2018

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Financial Results

Company Overview

AGENDA

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FINANCIAL RESULTS - GAAP

Q4 2018 Full Year 2018

Cash Collections $402.7 $1,625.2

Total Revenues $236.7 $908.3

Net Income Attributable to PRA Group, Inc. $14.9 $65.6

Operating Expenses $183.1 $689.6

Diluted EPS $0.33 $1.44

($ in millions, except per share results)

Net Allowance Charges $21.4 $33.4

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Americas Core, $233.9

Europe Core, $113.2

Global Insolvency,

$55.6

CASH COLLECTIONS($ in millions)

Americas Core, $945.2

Europe Core, $443.4

Global Insolvency,

$236.6

Fourth Quarter Full Year 2018

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OPERATING EXPENSES AND CASH EFFICIENCY RATIO($ in millions)

$183.1 million Primarily driven by increases in

legal collection expenses and compensation and employee services

Cash efficiency ratio of 58% for the full year

* Cash efficiency ratio = (cash receipts – operating expenses)/cash receipts

298

383 433

592

762

971

1,214

1,444

1,6041,569

1,538

1,640

0%

10%

20%

30%

40%

50%

60%

70%

200

400

600

800

1,000

1,200

1,400

1,600

1,800

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

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

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ESTIMATED REMAINING COLLECTIONS AND AVAILABLE CAPITAL

Estimated Remaining Collections

$826 Million Available for Portfolio Purchases

($ in millions)

United States - $3,483.8

United Kingdom - $1,216.5

Central Europe - $589.0

Southern Europe - $187.0

Northern Europe - $468.3

Other Americas - $198.7

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