Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth - Seite 2

The Company has provided a presentation on investor.rentacenter.com outlining the transaction.

Strategic Rationale and Benefits of the Transaction

• Accelerates Rent-A-Center’s position as a premier fintech platform across both traditional and virtual lease-to-own solutions.

• Further diversification of retail partner base, product verticals and enhanced ability to compete for high-value national retail accounts.

• Sophisticated underwriting and decision engine, with expanding digital payment solutions and communication along with a superior back-end infrastructure to support customer and LTO partner needs.

• The addition of key leadership and high-performing sales team with a proven track record and winning culture; the Company will retain core Acima management including its national sales structure.

• Expanded e-commerce platform and effective integration at point-of-sale to support retail partner digital transactions.

• Strong synergy potential with both Rent-A-Center and Preferred Lease segments.

“We’re thrilled to be part of a Rent-A-Center team that’s modernizing LTO to serve the estimated over 60 million unbanked and underbanked consumers in the United States,” said Mr. Allred. “We share Mitch and Jason’s vision to create the most dynamic LTO omni-channel shopping experience in the industry.”

Rent-A-Center has obtained $1.825 billion in debt financing commitments from J.P. Morgan Securities LLC, Credit Suisse and HSBC Securities (USA) Inc., in connection with the transaction, subject to the terms and conditions of the respective commitment letters.

J.P. Morgan Securities LLC is serving as lead financial advisor; Credit Suisse is serving as an additional financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Rent-A-Center. FT Partners is serving as sole strategic and financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Acima.

Webcast Information

Rent-A-Center, Inc. will host a conference call to discuss the Definitive Agreement to Acquire Acima, transaction details and other operational matters on the morning of Monday, December 21, 2020, at 8:30am ET. For a live webcast of the call, visit https://investor.rentacenter.com. Certain financial and other statistical information that will be discussed during the conference call will also be provided on the same website. Residents of the United States and Canada can listen to the call by dialing [phone]. International participants can access the call by dialing [phone].