FirstCash Holdings, Inc.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Note 1 -General

Basis of Presentation

The accompanying consolidated balance sheet as of December 31, 2025, which is derived from audited consolidated financial statements, and the unaudited consolidated financial statements, including the notes thereto, include the accounts of FirstCash Holdings, Inc. and its wholly-owned subsidiaries (together, the “Company”). The Company regularly makes acquisitions, and the results of operations for the acquisitions have been consolidated since the acquisition dates. All significant intercompany accounts and transactions have been eliminated.

These unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. These interim period financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 9, 2026. The consolidated financial statements as of September 30, 2026 and 2025, and for the three month and nine month periods ended September 30, 2026 and 2025, are unaudited, but in management’s opinion include all adjustments (consisting of only normal recurring adjustments) considered necessary to present fairly the financial position, results of operations and cash flows for such interim periods. Operating results for the periods ended September 30, 2026 are not necessarily indicative of the results that may be expected for the full year.

The Company has pawn operations in Mexico, Guatemala, Colombia and the U.K., where the functional currency is the Mexican peso, Guatemalan quetzal, Colombian peso and the British pound sterling, respectively. Accordingly, the assets and liabilities of these subsidiaries are translated into U.S. dollars at the exchange rate in effect at each balance sheet date, and the resulting adjustments are accumulated in other comprehensive income (loss) as a separate component of stockholders’ equity. Revenues and expenses are translated at the average exchange rates occurring during the respective period. The Company also has pawn operations in El Salvador, where the reporting and functional currency is the U.S. dollar.

On June 18, 2026, the Company completed its reincorporation from the State of Delaware to the State of Texas by conversion. The reincorporation was approved by the Company’s stockholders at the annual meeting of stockholders held on June 9, 2026. The reincorporation did not affect the accompanying consolidated financial statements.

Use of Estimates

The preparation of interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and related revenue and expenses, and the disclosure of gain and loss contingencies at the date of the financial statements. Such estimates and assumptions are subject to a number of risks and uncertainties, which may cause actual results to differ materially from the Company’s estimates.

Reclassification

For purposes of comparability, certain prior period amounts in the consolidated statements of cash flows have been reclassified in order to conform to the current period presentation.

The net presentation of pawn loans within cash flows from investing activities in the consolidated statements of cash flows for the nine months ended September 30, 2025 has been revised to reflect a gross presentation of pawn loans made, pawn loans repaid and recovery of pawn loan principal through sale of forfeited collateral. This reclassification of prior period amounts did not result in changes to previously reported net cash flow used in investing activities.

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Recent Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”). ASU 2024-03 requires additional disclosure of specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. In January 2025, the FASB issued ASU 2025-01, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date,” which clarifies the effective date of ASU 2024-03. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. ASU 2024-03 may be applied either prospectively or retrospectively for all prior periods presented. The Company is currently evaluating the impact of adopting this guidance on the Company's current financial position, results of operations and financial statement disclosures.

In September 2025, the FASB issued ASU 2025-06 “Intangibles—Goodwill and Other—Internal—Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software” (“ASU 2025-06”). ASU 2025-06 modernizes the capitalization criteria for internal-use software by eliminating references to project stages and clarifying the threshold applied to begin capitalizing costs. This guidance is effective for fiscal years beginning after December 15, 2027 and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating the impact of adopting this guidance on the Company's financial position, results of operations and financial statement disclosures.

In December 2025, the FASB issued ASU 2025-11 “Interim Reporting (Topic 270): Narrow—Scope Improvements” (“ASU 2025-11”). ASU 2025-11 clarifies the applicability of the interim reporting guidance, the types of interim reporting, and the form and content of interim financial statements in accordance with GAAP. Per the FASB, the amendment does not intend to change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements but rather provide clarity and improve navigability of the existing interim reporting requirements. ASU 2025-11 is effective for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. ASU 2025-11 may be applied either prospectively or retrospectively for all prior periods presented. The Company is currently evaluating the impact of adopting this guidance on the Company's financial position, results of operations and financial statement disclosures.

Note 2 -Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

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Note 3 -Acquisitions

Pending Ramsdens Acquisition

On June 23, 2026, the Company agreed on terms of the acquisition of Ramsdens, a leading pawn operator in the U.K. with over 175 store locations, whereby the Company will acquire the entire issued and to be issued share capital of Ramsdens by means of a court-sanctioned scheme of arrangement under Part 26 of the U.K. Companies Act 2006, as amended (“Ramsdens Acquisition”). On July 16, 2026, the Company agreed on revised terms of the acquisition to increase the cash price to be received by Ramsdens’ shareholders. Under the revised terms of the Ramsdens Acquisition, Ramsdens’ shareholders will be entitled to receive 675 pence per share in cash. The total equity value for the Ramsdens Acquisition is approximately £228.6 million ($303.7 million USD using GBP/USD exchange rate of 1.33).

During the third quarter of 2026, both the Ramsdens’ shareholders and the U.K. financial regulator (Financial Conduct Authority) approved the acquisition. The Ramsdens Acquisition is expected to be consummated by the end of 2026, pending receipt of the required U.K. anti-trust approval and satisfaction of the remaining customary closing conditions.

Pawn Acquisitions

Consistent with the Company’s strategy to continue its expansion of pawn stores in strategic markets, during the nine months ended September 30, 2026, the Company acquired 11 pawn stores in the U.S. infive separate transactions andone store in the U.K. in a separate transaction. The aggregate purchase price for these acquisitions totaled $16.5 million, net of cash acquired and subject to future post-closing adjustments. The aggregate purchase price was composed of $15.8 million in cash paid during the nine months ended September 30, 2026 and remaining short-term amounts payable to certain of the sellers of $0.7 million. During the nine months ended September 30, 2026, the Company also paid $5.3 million of purchase price amounts payable related to prior-year pawn acquisitions.

The purchase price of each of the 2026 acquisitions was allocated to assets acquired and liabilities assumed based upon the estimated fair values at the date of acquisition. The excess purchase price over the estimated fair value of the net assets acquired has been recorded as goodwill. The goodwill arising from these acquisitions consists largely of the synergies and economies of scale expected from combining the operations of the Company and the pawn stores acquired. The acquisitions were not material, individually or in the aggregate, to the Company’s consolidated financial statements.

H&T Acquisition

The Company completed the acquisition of H&T Group plc (“H&T”), the leading pawn operator in the U.K., on August 14, 2025, the date on which the balance sheet and operating results of H&T were included in the Company’s consolidated financial results (the “H&T Acquisition”). The purchase price allocation for the H&T Acquisition was finalized upon the conclusion of the measurement period on August 14, 2026. No material measurement period adjustments were recognized during the three month and nine month periods ended September 30, 2026.

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Note 4 -Operating Leases

Lessor

For information about the Company’s revenue-generating activities as a lessor, refer to the “Leased merchandise and revenue recognition” section of Note 2 to the consolidated financial statements included in the Company’s 2025 Annual Report on Form 10-K. All of the Company’s lease agreements are considered operating leases.

Lessee

The Company leases approximately 61% of its U.S. pawnshop locations, almost all of its Latin America and U.K. pawnshop locations and certain administrative offices under operating leases and determines if an arrangement is or contains a lease at inception. Many leases include both lease and non-lease components for which the Company accounts separately. Lease components include rent, taxes and insurance costs while non-lease components include common area or other maintenance costs. Operating leases are included in operating lease right of use assets, lease liability, current and lease liability, non-current in the consolidated balance sheets. The Company does not have any finance leases.

Leased facilities are generally leased for a term ofthree tofive years with one or more options to renew for an additional three tofive years, typically at the Company’s sole discretion. In addition, the majority of these leases can be terminated early upon an adverse change in law which negatively affects the store’s profitability. The Company regularly evaluates renewal and termination options to determine if the Company is reasonably certain to exercise the option, and excludes these options from the lease term included in the recognition of the operating lease right of use asset and lease liability until such certainty exists. The weighted-average remaining lease term for operating leases was 4.2 years as of both September 30, 2026 and 2025.

The operating lease right of use asset and lease liability are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The Company’s leases do not provide an implicit rate, and therefore, it uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company utilizes a portfolio approach for determining the incremental borrowing rate to apply to groups of leases with similar characteristics. The weighted-average discount rate used to measure the lease liability as of September 30, 2026 and 2025 was 7.9% and 8.5%, respectively.

The Company has certain operating leases in Mexico which are denominated in U.S. dollars. The liability related to these leases is considered a monetary liability and requires remeasurement each reporting period into the functional currency (Mexican pesos) using reporting date exchange rates. The remeasurement results in the recognition of foreign currency exchange gains or losses each reporting period, which can produce a certain level of earnings volatility. The Company recognized a foreign currency loss of $0.6 million and a gain of $0.6 million during the three months ended September 30, 2026 and 2025, respectively, related to the remeasurement of these U.S. dollar-denominated operating leases, which is included in (gain) loss on foreign exchange in the accompanying consolidated statements of income. During the nine months ended September 30, 2026 and 2025, the Company recognized a foreign currency gain of $1.0 million and $2.1 million, respectively, related to these U.S. dollar-denominated operating leases.

Lease expense is recognized on a straight-line basis over the lease term, with variable lease expense recognized in the period such payments are incurred. The following table details the components of lease expense included in operating expenses in the consolidated statements of income during the three and nine months ended September 30, 2026 and 2025 (in thousands):

(1)Variable lease costs consist primarily of taxes, insurance and common area or other maintenance costs paid based on actual costs incurred by the lessor and can therefore vary over the lease term.

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The following table details the maturity of lease liabilities for all operating leases as of September 30, 2026 (in thousands):

The following table details supplemental cash flow information related to operating leases for the nine months ended September 30, 2026 and 2025 (in thousands):

Note 5 -Fair Value of Financial Instruments

The fair value of financial instruments is determined by reference to various market data and other valuation techniques, as appropriate. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The three fair value levels are (from highest to lowest):

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

Recurring Fair Value Measurements

The Company did not have any financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2026, September 30, 2025 and December 31, 2025.

Fair Value Measurements on a Non-Recurring Basis

The Company measures non-financial assets and liabilities, such as property and equipment and intangible assets, at fair value on a non-recurring basis, or when events or circumstances indicate that the carrying amount of the assets may be impaired. There were no such events or conditions identified during the nine months ended September 30, 2026.

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Financial Assets and Liabilities Not Measured at Fair Value, But for Which Fair Value is Disclosed

The Company’s financial assets and liabilities as of September 30, 2026, September 30, 2025 and December 31, 2025 that are not measured at fair value in the consolidated balance sheets are as follows (in thousands):

(1)Finance receivables, gross as of September 30, 2026 were $250.6 million. See Note 6.

(1)Finance receivables, gross as of September 30, 2025 were $298.1 million. See Note 6.

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(1)Finance receivables, gross as of December 31, 2025 were $283.5 million. See Note 6.

As cash and cash equivalents have maturities of less than three months, the carrying value of cash and cash equivalents approximates fair value. Due to their short-term maturities, the carrying value of pawn loans and accounts receivable, net approximate fair value.

Finance receivables are measured at amortized cost, net of an allowance for loan losses on the consolidated balance sheets. In estimating fair value for finance receivables, the Company utilized a discounted cash flow methodology. The Company used various unobservable inputs reflecting its own assumptions, such as contractual future principal and interest cash flows, future charge-off rates and discount rates (which consider current interest rates and are adjusted for credit risk, among other factors).

The carrying value of the liability for off-balance sheet credit exposure approximates fair value as of September 30, 2026, September 30, 2025 and December 31, 2025 due to the short-term nature and estimation based on current expected lifetime losses.

The carrying value of the revolving unsecured credit facility approximates fair value as of September 30, 2026, September 30, 2025 and December 31, 2025. The fair value of the revolving unsecured credit facility is estimated based on market values for debt issuances with similar characteristics or rates currently available for debt with similar terms. In addition, the revolving unsecured credit facility has a variable interest rate based on the prevailing Secured Overnight Financing Rate (“SOFR”) for borrowings denominated in U.S. dollars and Sterling Overnight Index Average (“SONIA”) for borrowings denominated in British pounds sterling, and reprices with any changes in SOFR or SONIA.

As of September 30, 2026, the other long-term debt consists solely of fixed rate senior unsecured notes. As of September 30, 2025 and December 31, 2025, the other long-term debt consists primarily of fixed rate senior unsecured notes and secured term loans. The fair value of the senior unsecured notes is estimated based on quoted prices in markets that are not active. The fair value of the secured term loans is estimated based on market values for debt issuances with similar characteristics or rates currently available for debt with similar terms. The remainder of the other long-term debt consists of two variable interest rate credit facilities, the carrying value of which approximates fair value as of September 30, 2025 and December 31, 2025.

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Note 6 -Finance Receivables, Net

Finance receivables, net, which include retail installment sales agreements and bank-originated loans, consist of the following (in thousands):

The following table details the changes in the allowance for loan losses (in thousands):

(1)During the third quarter of 2025, the Company’s retail POS payment solutions business (American First Finance or “AFF”) began assisting certain customers in applying for a direct-to-consumer unsecured installment loan that is underwritten and fully retained by AFF’s bank partner (“OBS Loan”). OBS Loans are not reflected on the Company’s balance sheet as a finance receivable. The provision for loan losses presented on the consolidated statement of income for the three and nine months ended September 30, 2026 includes an additional $11.8 million and $26.8 million, respectively, of provision expense related to OBS Loans in which AFF is responsible for reimbursing the bank partner for certain charge-offs, which the Company is required to recognize a liability for at inception. The provision for loan losses presented on the consolidated statement of income for both the three and nine months ended September 30, 2025 includes an additional $4.8 million of provision expense related to OBS Loans in which AFF is responsible for reimbursing the bank partner for certain charge-offs, which the Company is required to recognize a liability for at inception. See the “OBS Loans” section in Note 9.

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The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of September 30, 2026 and 2025, by origination year (in thousands):

(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due.

The following table details the gross charge-offs of finance receivables for the nine months ended September 30, 2026 and 2025, by origination year (in thousands):

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Note 7 -Leased Merchandise, Net

Leased merchandise, net consists of the following (in thousands):

The following table details the changes in the allowance for lease losses (in thousands):

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Note 8 -Long-Term Debt

The following table details the Company’s long-term debt at the respective principal amounts, net of unamortized debt issuance costs on the senior unsecured notes (in thousands):

(1)Debt issuance costs related to the Company’s revolving unsecured credit facilities are included in other assets in the accompanying consolidated balance sheets.

(2)Assumed on August 14, 2025 in connection with the H&T Acquisition and repaid and terminated during the nine months ended September 30, 2026.

(3)As of September 30, 2026, September 30, 2025 and December 31, 2025, deferred debt issuance costs of $2.4 million, $3.6 million and $3.3 million, respectively, are included as a direct deduction from the carrying amount of the senior unsecured notes due 2028 in the accompanying consolidated balance sheets.

(4)As of September 30, 2026, September 30, 2025 and December 31, 2025, deferred debt issuance costs of $4.0 million, $5.1 million and $4.8 million, respectively, are included as a direct deduction from the carrying amount of the senior unsecured notes due 2030 in the accompanying consolidated balance sheets.

(5)As of September 30, 2026, September 30, 2025 and December 31, 2025, deferred debt issuance costs of $6.7 million, $7.7 million and $7.4 million, respectively, are included as a direct deduction from the carrying amount of the senior unsecured notes due 2032 in the accompanying consolidated balance sheets.

(6)As of September 30, 2026, deferred debt issuance costs of $8.8 million are included as a direct deduction from the carrying amount of the senior unsecured notes due 2034 in the accompanying consolidated balance sheets.

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Revolving Unsecured Credit Facility

During the period from January 1, 2026 through August 27, 2026, the Company maintained an unsecured line of credit with a group of U.S.-based commercial lenders (the “Credit Facility”) in the amount of $700.0 million, which was scheduled to mature on August 8, 2029. The Credit Facility bore interest at the Company’s option of either (1) the prevailing SOFR (with interest periods of one, three or six months at the Company’s option) plus a fixed spread of 2.5% or (2) the prevailing prime or base rate plus a fixed spread of 1.5%.

On August 27, 2026, the Credit Facility was amended (the “2026 Amendment”) to, among other things, increase the total lender commitment, extend the term of the Credit Facility and amend certain financial covenants. Under the 2026 Amendment, the total lender commitment was increased from $700.0 million to $1,055.0 million and the term of the Credit Facility was extended to August 27, 2031. The 2026 Amendment permits borrowings denominated in British pounds sterling of up to a $500.0 million U.S. dollar equivalent. In addition, the 2026 Amendment increased the maximum permitted consolidated net leverage ratio to 3.5 times consolidated EBITDA, reduced the unused commitment fee and provided additional flexibility under certain of the negative covenants.

Borrowings denominated in U.S. dollars bear interest at the Company’s option of either (i) the prevailing SOFR (with interest periods of one, three or six months at the Company’s option) plus a fixed spread of 2.5% or (ii) the prevailing prime or base rate plus a fixed spread of 1.5%. Borrowings denominated in British pounds sterling bear interest at the prevailing SONIA plus a fixed spread of 2.5%. Additionally, the Company is required to pay an annual commitment fee of 0.25% on the average daily unused portion of the Credit Facility commitment.

As of September 30, 2026, the Company had $169.0 million in outstanding borrowings and $3.5 million in outstanding letters of credit under the Credit Facility, leaving $882.5 million available for future borrowings, subject to certain financial covenants. All borrowings as of September 30, 2026 are U.S. dollar borrowings. The weighted-average interest rate on amounts outstanding under the Credit Facility at September 30, 2026 was 6.30%. Under the terms of the Credit Facility, the Company is required to maintain certain financial ratios and comply with certain financial covenants. The Credit Facility also contains customary restrictions on the Company’s ability to incur additional debt, grant liens, make investments, consummate acquisitions and similar negative covenants with customary carve-outs and baskets. The Company was in compliance with the covenants of the Credit Facility as of September 30, 2026. During the nine months ended September 30, 2026, the Company made net payments of $390.0 million pursuant to the Credit Facility.

Acquisition Bridge Credit Agreement

In connection with the anticipated Ramsdens Acquisition, the Company entered into a Bridge Term Loan Credit Agreement (“Bridge Facility”), dated as of June 23, 2026 and amended as of July 16, 2026, with Jefferies Finance LLC (as administrative agent and lender) providing the Company certain borrowings in an aggregate amount of up to £239.0 million. The Bridge Facility provides a backstop for the anticipated financing of the Ramsdens Acquisition and satisfies the “certain funds” requirements under the U.K. City Code on Takeovers and Mergers. The availability of borrowings under the Bridge Facility is subject to the satisfaction of certain customary conditions, including, but not limited to, the consummation of the Ramsdens Acquisition contemporaneously with the initial funding of the Bridge Facility. The Company expects to replace the Bridge Facility prior to the closing date of the Ramsdens Acquisition by borrowing on the Credit Facility to finance the Ramsdens Acquisition and to pay related fees and expenses.

Revolving Secured Credit Facility

In connection with the H&T Acquisition, the Company assumed a secured line of credit with a bank in the U.K. in an amount of £45.0 million which was scheduled to mature on December 22, 2027 (the “U.K. Credit Facility”). In May 2026, all outstanding amounts were repaid in full, and the U.K. Credit Facility was terminated.

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Revolving Unsecured Uncommitted Credit Facility

During the period from January 1, 2026 through July 29, 2026, the Company’s primary subsidiary in Mexico, First Cash S.A. de C.V., maintained an unsecured and uncommitted line of credit guaranteed by FirstCash, Inc. with a bank in Mexico (the “Mexico Credit Facility”) in the amount of $600.0 million Mexican pesos, which was scheduled to mature on August 24, 2027.

On July 29, 2026, the Mexico Credit Facility was amended to increase the lender commitment from $600.0 million Mexican pesos to $850.0 million Mexican pesos and to extend the term to August 24, 2031. The Mexico Credit Facility continues to bear interest at the Mexican Central Bank’s interbank equilibrium rate plus a fixed spread of 2.25%. Under the terms of the Mexico Credit Facility, the Company is required to maintain certain financial ratios and comply with certain financial covenants. The Company was in compliance with the covenants of the Mexico Credit Facility as of September 30, 2026. As of September 30, 2026, the Company had no amount outstanding under the Mexico Credit Facility and $47.7 million ($850.0 million Mexican pesos) available for future borrowings.

Secured Term Loans

In connection with the H&T Acquisition, the Company assumed three secured term loans with multiple lending institutions in the U.K. in an aggregate amount of £45.0 million, which were scheduled to mature between December 22, 2027 and February 21, 2031 (the “U.K. Term Loans”). In May 2026, all outstanding amounts were repaid in full, and the U.K. Term Loans were terminated. As a result of the early termination, the Company paid aggregate prepayment penalties of £3.1 million ($4.2 million), which are included in merger and acquisition expenses in the accompanying consolidated statements of income.

Senior Unsecured Notes Due 2028

On August 26, 2020, the Company issued $500.0 million of 4.625% senior unsecured notes due on September 1, 2028 (the “2028 Notes”), all of which are currently outstanding. Interest on the 2028 Notes is payable semi-annually in arrears on March 1 and September 1. The 2028 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2028 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 2.75 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2028 Notes as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of September 30, 2026, the Company’s consolidated total debt ratio was 2.6 to 1. While the 2028 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 2.75 to 1, restricted payments are allowable within certain permitted baskets, which currently provide the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 2.75 to 1.

Senior Unsecured Notes Due 2030

On December 13, 2021, the Company issued $550.0 million of 5.625% senior unsecured notes due on January 1, 2030 (the “2030 Notes”), all of which are currently outstanding. Interest on the 2030 Notes is payable semi-annually in arrears on January 1 and July 1. The 2030 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2030 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 3.0 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2030 Notes as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of September 30, 2026, the Company’s consolidated total debt ratio was 2.6 to 1. While the 2030 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 3.0 to 1, restricted payments are allowable within certain permitted baskets, which currently provide the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 3.0 to 1.

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Senior Unsecured Notes Due 2032

On February 21, 2024, the Company issued $500.0 million of 6.875% senior unsecured notes due on March 1, 2032 (the “2032 Notes”), all of which are currently outstanding. Interest on the 2032 Notes is payable semi-annually in arrears on March 1 and September 1. The 2032 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2032 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 3.0 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2032 Notes as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of September 30, 2026, the Company’s consolidated total debt ratio was 2.6 to 1. While the 2032 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 3.0 to 1, restricted payments are allowable within certain permitted baskets, which currently provide the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 3.0 to 1.

Senior Unsecured Notes Due 2034

On May 1, 2026, the Company issued $750.0 million of 6.125% senior unsecured notes due on May 1, 2034 (the “2034 Notes”), all of which are currently outstanding. Interest on the 2034 Notes is payable semi-annually in arrears on May 1 and November 1, commencing on November 1, 2026. The 2034 Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended. The Company used the net proceeds from the offering to repay a portion of the outstanding balance on the Credit Facility, to repay the U.K. Credit Facility in full and to repay the U.K. Term Loans in full, after payment of fees and expenses related to the offering. The Company capitalized $9.2 million in debt issuance costs, which consisted primarily of the initial purchaser’s discount and fees and legal and other professional expenses. The debt issuance costs are being amortized over the life of the 2034 Notes as a component of interest expense and are carried as a direct deduction from the carrying amount of the 2034 Notes in the accompanying consolidated balance sheets.

The 2034 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2034 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 3.0 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2034 Notes (the “2034 Notes Indenture”) as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of September 30, 2026, the Company’s consolidated total debt ratio was 2.6 to 1. While the 2034 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 3.0 to 1, restricted payments are allowable within certain permitted baskets, which currently provide the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 3.0 to 1.

The Company may redeem some or all of the 2034 Notes at any time on or after May 1, 2029, at the redemption prices set forth in the 2034 Notes Indenture, plus accrued and unpaid interest, if any. In addition, prior to May 1, 2029, the Company may redeem some or all of the 2034 Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, plus a “make-whole” premium set forth in the 2034 Notes Indenture. The Company may redeem up to 40% of the 2034 Notes on or prior to May 1, 2029 with the proceeds of certain equity offerings at the redemption prices set forth in the 2034 Notes Indenture. If the Company or any of its restricted subsidiaries sells certain assets or if the Company consummates certain change in control transactions, the Company will be required to make an offer to repurchase the 2034 Notes.

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Note 9 -Commitments and Contingencies

Litigation

The Company, in the ordinary course of business, is a party to various legal and regulatory proceedings and other general claims. Although no assurances can be given, in management’s opinion, such outstanding proceedings are not expected to have a material adverse effect on the Company’s financial position, results of operations, or cash flows.

OBS Loans

The Company is obligated to reimburse the Company’s bank partner for the outstanding principal amount plus accrued interest for all OBS Loans that are 90 days contractually past due. This obligation constitutes an off-balance sheet credit exposure for which the Company is required to recognize, upon inception of the obligation, a liability for the expected lifetime losses, which is included in accrued liabilities in the accompanying consolidated balance sheets. As of September 30, 2026 and 2025, the outstanding amount of OBS Loans originated and held by the Company’s bank partner, which would represent the maximum exposure to the Company, was $45.5 million and $9.7 million, respectively.

The following table details the changes in the liability for off-balance sheet credit exposure (in thousands):

Pending Ramsdens Acquisition

Under the terms of the pending Ramsdens Acquisition, Ramsdens’ shareholders will be entitled to receive 675 pence per share in cash. The total equity value for the Ramsdens Acquisition is approximately £228.6 million ($303.7 million USD using GBP/USD exchange rate of 1.33). The Company intends to borrow on its Credit Facility to finance the Ramsdens Acquisition and to pay related fees and expenses. The Company also entered into the Bridge Facility, which provides a backstop for the anticipated financing of the Ramsdens Acquisition and satisfies the “certain funds” requirements under the U.K. City Code on Takeovers and Mergers. During the third quarter of 2026, both the Ramsdens’ shareholders and the U.K. financial regulator (Financial Conduct Authority) approved the acquisition. The Ramsdens Acquisition is expected to be consummated by the end of 2026, pending receipt of the required U.K. anti-trust approval and satisfaction of the remaining customary closing conditions.

Gold Forward Sales Contracts

As of September 30, 2026, the Company had contractual commitments to deliver a total of 57,500 gold ounces between October 2026 and December 2027 at a weighted-average price of $4,147 per ounce. The ounces required to be delivered over this time period are less than the historical volume of scrap gold normally produced, and the Company expects to have the required gold ounces to meet the commitments as they come due.

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Note 10 -Segment Information

The Company organizes its operations into four reportable segments as follows:

•U.S. pawn

•Latin America pawn

•U.K. pawn

•Retail POS payment solutions (American First Finance or “AFF”)

Operating expenses of the three pawn segments include salary and benefit expenses of store-level employees, occupancy costs, bank and other treasury fees, security, insurance, utilities, supplies and other costs incurred by the pawn stores. Operating expenses of the AFF segment include salary and benefit expenses of operations-focused departments, payment processing charges, data analytics and decisioning costs, information technology costs, advertising costs and other operational costs incurred by AFF.

Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, (gain) loss on foreign exchange, merger and acquisition expenses, and other income, net, are presented on a consolidated basis and are not allocated between the segments. Intersegment transactions related to AFF’s LTO payment solution product offered in U.S. pawn stores are eliminated from consolidated totals.

The Company completed the acquisition of H&T, the leading pawn operator in the U.K., on August 14, 2025, the date the balance sheet and operating results of H&T, as reported in the U.K. pawn segment, were included in the Company’s consolidated financial results.

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The following tables present reportable segment information for the three and nine month periods ended September 30, 2026 and 2025, as well as certain segment assets (in thousands):

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