IMPORTANT NOTICES

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding our goals, plans and projections with respect to our operations, financial position and business strategy. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "maintain," "should," "anticipate," "believe," or "confident," or the negative thereof or variations thereon or similar terminology. Such forward-looking statements are based on particular assumptions that our management has made in light of its experience and its perception of expected future developments and other factors that it believes are appropriate under the circumstances, and are subject to various risks and uncertainties.

Factors that could cause or contribute to material and adverse differences between actual and anticipated results include, but are not limited to, (1) the impact on our business of the COVID-19 pandemic and related federal, state, and local government restrictions, including adverse changes in such restrictions or the potential re-imposition of such restrictions limiting our ability to operate or that of our retail partners or franchisees, and the continuing economic uncertainty and volatility that has resulted from such matters, (2) risks relating to our acquisition of Acima in February 2021, including the possibility that the anticipated benefits of the acquisition will not be fully realized or take longer to realize than expected, changes in the Company's future cash requirements as a result of the acquisition and the Company's ability to successfully integrate Acima's operations, and (3) the other risks detailed from time to time in the reports filed by us with the SEC, including our most recently filed Annual Report on Form 10-K, as may be updated by reports on Form 10-Q or Form 8-K filed thereafter. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this communication. Except as required by law, we are not obligated to, and do not undertake to, publicly release any revisions to these forward-looking statements to reflect any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Use of Non-GAAP Financial Measures

This communication contains certain financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including (1) Non-GAAP diluted earnings per share (net earnings, as adjusted for special items (as defined below), net of taxes, divided by the number of shares of our common stock on a fully diluted basis), (2) Adjusted EBITDA (net earnings before interest, taxes, depreciation and amortization, as adjusted for special items) on a consolidated and segment basis and (3) Free Cash Flow (net cash provided by operating activities less capital expenditures). This communication also contains Adjusted EBITDA information with respect to Acima Holdings, LLC (adjusted earnings before interest, taxes, depreciation and amortization, including all general and administrative expenses and stock based compensation, and excluding items not deemed by management to reflect core business activities). "Special items" refers to certain gains and charges we view as extraordinary, unusual or non-recurring in nature and which we believe do not reflect our core business activities. For the periods presented herein, these special items are described in the quantitative reconciliation tables included in the appendix of this communication. Because of the inherent uncertainty related to the special items, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measures or reconciliation to any forecasted GAAP measure without unreasonable effort.

These non-GAAP measures are additional tools intended to assist our management in comparing our performance on a more consistent basis for purposes of business decision-making by removing the impact of certain items management believes do not directly reflect our core operations. These measures are intended to assist management in evaluating operating performance and liquidity, comparing performance and liquidity across periods, planning and forecasting future business operations, helping determine levels of operating and capital investments and identifying and assessing additional trends potentially impacting our company that may not be shown solely by comparisons of GAAP measures. Consolidated Adjusted EBITDA and Free Cash Flow have also been used as part our incentive compensation program for our executive officers and others.

We believe these non-GAAP financial measures also provide supplemental information that is useful to investors, analysts and other external users of our consolidated financial statements in understanding our financial results and evaluating our performance and liquidity from period to period. However, non-GAAP financial measures have inherent limitations and are not substitutes for or superior to, and they should be read together with, our consolidated financial statements prepared in accordance with GAAP. Further, because non-GAAP financial measures are not standardized, it may not be possible to compare such measures to the non-GAAP financial measures presented by other companies, even if they have the same or similar names.

Note that all sources in this presentation are from Company reports and Company estimates unless otherwise noted.

2

2020 FULL YEAR REVIEW

Preferred Lease Invoice VolumeYear-over-Year Growth

30%

25%

20%

25.0%

15%

  • Acquired Acima for $1.65bn1 in February 2021, materially accelerating Rent-A-Center's expectations for growth, with accretion to commence this FY 2021

  • 2020 Consolidated revenues of $2,814 million, up 5.4% versus 2019

    10%

    5%

    0%Q1 '20

    Q2 '20

    Q3 '20

    Q4 '20

  • 2020 Adjusted EBITDA1 of $331 million increased 30% over 2019 and Non-GAAP Diluted EPS2 of $3.53 increased 58% over 2019

    20% 15% 10% 5% 0%

    Rent-A-Center Business 2-Year Same Store Sales

    14.9%Q1 '20

    Q2 '20

    • 1 Based on our stock price in December 2020 prior to signing the transaction.

      Q3 '20

    • 2 Non-GAAP financial measure. Refer to explanations and reconciliations elsewhere in this presentation.

  • Preferred Lease annual invoice volume rose over 20%, which drove 8.1% revenue growth in 2020 and should benefit further revenue growth as the team executes on growing pipeline

  • Twelve consecutive quarters of positive same store sales in the Rent-A-Center Business (+14.9% on a 2-year basis), with a significant year over year increase in profitability

    Q4 '20

  • E-commerce +53% in fourth quarter to 22% of Rent-A-Center sales to end the year

Note: Same store sale methodology - Same store sales generally represents revenue earned in stores that were operated by us for 13 months or more and are reported on a constant currency basis as a percentage of total revenue earned in stores of thesegment during the indicated period. The Company excludes from the same store sales base any store that receives a certain level of customer accounts from closed stores or acquisitions. The receiving store will be eligible for inclusion in the same store sales base in the 30th full month following account transfer. Due to the COVID-19 pandemic and related temporary store closures, all 32 stores in Puerto Rico were excluded starting in March 2020 and will remain excluded for 18 months.

3

LONG TERM STRATEGIC AND FINANCIAL GOALS FOR RENT-A-CENTER

CONSOLIDATED BUSINESS

ACHIEVE CONSOLIDATED REVENUE AT $6 BILLION BY 2023 (A 50% INCREASE, PRO FORMA FOR THE ACIMA ACQUISITION), DRIVEN BY APPROXIMATELY 25% ANNUAL GROWTH AT ACIMA

2 3 4

INCREASE CONSOLIDATED ADJ. EBITDA MARGINS TO MID-TEENS BY 2023

ACHIEVE PRO FORMA INCREASE OF APPROXIMATELY 60% IN CONSOLIDATED ADJUSTED EBITDA BY 2023

REDUCE NET LEVERAGE TO <2.0X WITHIN 18 MONTHS WHILE MAINTAINING ROBUST LIQUIDITY

ACQUISITION EXPECTED TO BE APPROXIMATELY

30%

ACCRETIVE IN 2021 AND SIGNIFICANTLY HIGHER IN YEAR TWO

4

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Rent-A-Center Inc. published this content on 25 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2021 21:59:03 UTC.