PRA GROUP INC

Adjusted EBITDA

The Company presents Adjusted EBITDA because the Company considers it an important supplemental measure of its operational and financial performance. Adjusted EBITDA is calculated as Net income/(loss) attributable to PRA Group, Inc. plus Income tax expense; less Foreign exchange gain; plus Interest expense, net; plus Other expense; plus Depreciation and amortization; plus Impairment of real estate; plus Goodwill impairment; plus Net income attributable to noncontrolling interests; less Gain on sale of equity method investment; and plus Recoveries collected and applied to Finance receivables, net less Changes in expected recoveries. Management believes Adjusted EBITDA helps provide enhanced period-to-period comparability of the Company's operational and financial performance as it excludes certain items whose fluctuations from period-to-period do not necessarily correspond to changes in the operations of the Company's business and is useful to investors as other companies in the industry report similar financial measures.

The following table provides a reconciliation of Net income/(loss) attributable to PRA Group, Inc. to Adjusted EBITDA for the last twelve months (LTM) ended September 30, 2026 and for the year ended December 31, 2025.