PRA GROUP INC

13. Subsequent Events:

North American Credit Agreement

On October 28, 2024, the Company entered into the Second Amended and Restated Credit Agreement (the "Second A&R North American Credit Agreement") that modified the North American Credit Agreement to, among other things, extend the maturity date from July 30, 2026 to October 28, 2029 and increase the aggregate revolving and Term Loan commitments by $40.1 million from $1.508 billion to $1.548 billion. The U.S. domestic revolving credit facility was reduced from $1.0 billion to $950.0 million and the Canadian revolving credit facility increased from $75.0 million to $125.0 million, resulting in no change to the aggregate revolving commitments. The Term Loan was increased by $40.1 million from $432.5 million to $472.6 million. Modifications to the financial covenants include the following:

•Positive income from operations was replaced by a new consolidated fixed charge coverage ratio: (i) consolidated EBITDA to (ii) scheduled principal payment on consolidated funded indebtedness, plus consolidated interest charges (last four fiscal quarters) to be not less than 2.0 to 1.0.

•Consolidated senior secured indebtedness was reduced by qualified cash when calculating the consolidated senior secured leverage ratio and the ratio was increased from 2.25 to 1.0 to 2.5 to 1.0.

•Consolidated funded indebtedness was reduced by qualified cash when calculating the consolidated total leverage ratio.

UK Credit Agreement

On October 30, 2024, the Company entered into a Deed of Amendment and Restatement (the “A&R UK Credit Agreement”) that modified the UK Credit Agreement to, among other things, extend the maturity date from July 30, 2026 to October 30, 2029, decrease the revolving credit facility from $800.0 million to $725.0 million and make certain modifications to the financial covenants to more closely conform to the Second A&R North American Credit Agreement.

European Credit Agreement

On October 28, 2024, the Company entered into an amendment to the European Credit Agreement (the "Letter Amendment") to modify the financial covenants to more closely conform to the Second A&R North American Agreement and the A&R UK Credit Agreement. Modifications to the financial covenants include the following:

•Replacing the positive net income covenant with a consolidated fixed charge coverage ratio (such ratio to be not less than 2.0 to 1.0 as of the end of any fiscal quarter).

•Increasing the consolidated senior secured leverage ratio from a maximum of 2.25 to 1.0 to a maximum of 2.5 to 1.0.