PROG Holdings, Inc.

Board Replenishes and Extends Current Share Repurchase Program

in Connection with ASR Program

SALT LAKE CITY, October 28, 2026- PROG Holdings, Inc. (NYSE: PRG), the fintech holding company for Progressive Leasing, Four Technologies, MoneyApp and Purchasing Power, announced today that the Company intends to enter into an accelerated share repurchase agreement to repurchase an aggregate of $100 million of its common stock. The transactions under that agreement are expected to be completed during the first quarter of 2027.

“Today’s announcement reflects our continued confidence in PROG’s long-term strategy and the momentum we see across our product ecosystem. Our diversified model is performing as designed, and our consistent cash flow generation gives us the flexibility to return meaningful capital to shareholders without compromising our investments in growth,” said PROG Holdings Chairman, President and CEO, Steve Michaels. “Our capital allocation priorities remain unchanged: reinvest in the business, pursue strategic M&A, and return excess capital to shareholders. Having strengthened our balance sheet and returned to our targeted net leverage range, we are well positioned to act on all three, beginning with our anticipated accelerated share repurchase.”

In connection with its intention to enter into the ASR program, the Company’s Board of Directors replenished its current share repurchase program, adding an additional $237 million and bringing the total amount available for future repurchases of the Company’s common stock to $500 million. The term of the Company’s share repurchase program was also extended through the earlier of October 26, 2029 and the date the Company has repurchased shares of its common stock for an aggregate purchase price of $500 million.

Repurchases of common stock under the share repurchase program may be made from time to time using a variety of methods, which may include open market purchases, tender offers, purchases effected through 10b5-1 trading plans, accelerated share repurchase programs, or other transactions. The number of shares of common stock, if any, that are purchased under the share repurchase program and the timing of any such purchases will be determined based on market conditions and other factors, and the program may be suspended or discontinued at any time by the Company’s Board of Directors.