# EDGAR Filing Document

**Accession Number:** 0001185348
**File Stem:** 0001193125-23-058298
**Filing Date:** 2023-3
**Character Count:** 24752
**Document Hash:** 85e88d2743e6ba0367868438b872ec5b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-058298.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001193125-23-058298

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**EFFECTIVENESS DATE**: 20230302

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRA GROUP INC
- **CENTRAL INDEX KEY:** 0001185348
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-CONSUMER CREDIT REPORTING, COLLECTION AGENCIES [7320]
- **IRS NUMBER:** 753078675
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270237
- **FILM NUMBER:** 23700048

**BUSINESS ADDRESS:**
- **STREET 1:** 120 CORPORATE BLVD STE 100
- **CITY:** NORFOLK
- **STATE:** VA
- **ZIP:** 23502
- **BUSINESS PHONE:** 7575199300X3023

**MAIL ADDRESS:**
- **STREET 1:** 120 CORPORATE BLVD STE 100
- **CITY:** NORFOLK
- **STATE:** VA
- **ZIP:** 23502

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PORTFOLIO RECOVERY ASSOCIATES INC
- **DATE OF NAME CHANGE:** 20020903

**As filed with the Securities and Exchange Commission on March 2, 2023** 

**Registration No. 333-** 

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

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## PRA Group, Inc.
**(Exact name of registrant as specified in its charter)** 

------

---

| | |
|:---|:---|
| **Delaware** | **75-3078675** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |
| **120 Corporate Boulevard, Norfolk, Virginia** | **23502** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

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**2022 Omnibus Incentive Plan** 

**(Full title of the plan)** 

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**LaTisha Owens Tarrant** 

**Chief Human Resources Officer** 

**120 Corporate Boulevard,** 

**Norfolk, Virginia 23502** 

**(Name and address of agent for service)** 

**(888) 772-7326** 

**(Telephone number, including area code, of agent for service)** 

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***Copies to:***

**W. Lake Taylor, Jr.** 

**McGuireWoods LLP** 

**Gateway Plaza** 

**800 East Canal Street** 

**Richmond, VA 23219-3916** 

**(804) 775-1000** 

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. ☐

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**Part I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

**Item 1. Plan Information.** 

Not required to be filed with the Securities and Exchange Commission (the "Commission").

**Item 2. Registrant Information and Employee Plan Annual Information.** 

Not required to be filed with the Commission.

**Part II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The following documents filed by PRA Group, Inc. (the "Company") with the Commission (File No. 000-50058) are incorporated by reference in, and made a part of, this registration statement (other than documents or information included in such documents deemed to have been furnished and not filed in accordance with Commission rules):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1185348/000118534823000007/praa-20221231.htm) for the year ended December 31, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Company's Current Reports on Form 8-K filed with the
Commission on [January 23, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001185348/000119312523012713/d420412d8k.htm) , [January 24, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001185348/000119312523013749/d420414d8k.htm) and [February 6, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001185348/000119312523025557/d447977d8k.htm) ; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the description of the Company's common stock contained in [Exhibit 4.3](http://www.sec.gov/Archives/edgar/data/1185348/000118534821000006/newpraa-ex43_20201231x10k.htm) of the Company's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001185348/000118534821000006/praa-20201231.htm) for the year
ended December 31, 2020 (including any amendment or report filed for the purpose of updating such description).

All documents filed by the Company under Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), after the date of this registration statement and before the filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in, and to be a part of, this registration statement from the date of filing of such documents (other than documents or information included in such documents deemed to have been furnished and not filed in accordance with Commission rules). Any statement contained in a document incorporated by reference in this registration statement shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained in this registration statement or in any other subsequently filed document that is incorporated by reference in this registration statement modifies or supersedes such earlier statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

------

**Item 6. Indemnification of Directors and Officers.** 

As authorized by Section 102(b)(7) of the Delaware General Corporation Law ("DGCL"), the Company's Fifth Amended and Restated Certificate of Incorporation ("Certificate of Incorporation") provides that a director will not be liable to the Company or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the Company or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for liability for payments of dividends or stock purchased or redemptions in violation of the DGCL or (iv) for any transaction from which the director derived an improper personal benefit.

Section 145 of the DGCL provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason of such person being or having been a director, officer, employee or agent of the corporation. The DGCL provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Expenses, including attorneys' fees, incurred by any such person in defending any such action, suit or proceeding shall be paid or reimbursed by the corporation in advance of the final disposition of such action, suit or proceeding upon receipt by the corporation of an undertaking of such person to repay such expenses if it shall ultimately be determined that such person is not entitled to be indemnified by the corporation. The Company's Certificate of Incorporation provides for the indemnification of its directors, officers, employees and agents to the fullest extent permitted by the DGCL.

The Company's directors and officers are insured against certain liabilities for actions taken in such capacities, including liabilities under the Securities Act. The Company maintains directors' and officers' liability insurance policies insuring its directors and officers for certain covered losses as defined in the policies.

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

**Item 8. Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit**<br> **No.** | **Description** |
| &nbsp;&nbsp;&nbsp;&nbsp;5.1\* | [Opinion of McGuireWoods LLP.](d464922dex51.htm) |
| 10.1 | [2022 Omnibus Incentive Plan (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement filed on April 28, 2022 (File No. 000-50058)).](http://www.sec.gov/Archives/edgar/data/1185348/000119312522127908/d245536ddef14a.htm#toc245536_67) |
| 23.1\* | [Consent of Ernst & Young LLP.](d464922dex231.htm) |
| 23.2\* | [Consent of KPMG LLP.](d464922dex232.htm) |
| 23.3\* | [Consent of McGuireWoods LLP (included in Exhibit 5.1).](d464922dex51.htm) |
| 24.1\* | [Power of Attorney (included in signature pages).](#sig) |
| 107\* | [Filing Fee Table.](d464922dexfilingfees.htm) |

---

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\* Filed herewith.

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**Item 9. Undertakings.** 

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this
registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement
(or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the
registration statement or any material change in such information in the registration statement; provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by
those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to provisions described in Item 6 above, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Norfolk, Commonwealth of Virginia, on March 2, 2023.

---

| | |
|:---|:---|
|  | **PRA Group, Inc.** |
| By: | /s/ Kevin P. Stevenson |
|  | Kevin P. Stevenson |
|  | President and Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated on March 2, 2023. Each person whose signature appears below hereby authorizes LaTisha Owens Tarrant to execute in the name of each such person, and to file, any amendment, including any post-effective amendment, to this registration statement making such changes in this registration statement as the registrant deems appropriate, and appoints such individual as attorney-in-fact, with full power of substitution and resubstitution, to sign on his or her behalf and in each capacity stated below and file all amendments and post-effective amendments to this registration statement.

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| | |
|:---|:---|
| **Signature** | **Title** |
| /s/ Kevin P. Stevenson<br> (Kevin P. Stevenson) | President, Chief Executive Officer and Director<br>(Principal Executive Officer) |
| /s/ Peter M. Graham<br> (Peter M. Graham) | Executive Vice President and Chief Financial Officer<br>(Principal Financial Officer and Principal Accounting Officer) |
| /s/ Steven D. Fredrickson | Chairman of the Board of Directors |
| (Steven D. Fredrickson) |  |
| /s/ Brett L. Paschke<br> (Brett L. Paschke) | Director |
| /s/ Vikram A. Atal | Director |
| (Vikram A. Atal) |  |
| /s/ Danielle M. Brown | Director |
| (Danielle M. Brown) |  |

---

------

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| | |
|:---|:---|
| /s/ Marjorie M. Connelly | Director |
| (Marjorie M. Connelly) |  |
| /s/ John H. Fain | Director |
| (John H. Fain) |  |
| /s/ James A. Nussle | Director |
| (James A. Nussle) |  |
| /s/ Scott M. Tabakin<br> (Scott M. Tabakin) | Director |
| /s/ Lance L. Weaver<br> (Lance L. Weaver) | Director |
| /s/ Peggy P. Turner<br> (Peggy P. Turner) | Director |

---

## Exhibit 5.1

**Exhibit 5.1** 

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| | |
|:---|:---|
| ![LOGO](g464922g0228065509946.jpg) | **McGuireWoods LLP**<br> Gateway Plaza<br> 800 East Canal Street<br> Richmond, VA 23219-3916<br> Phone: 804.775.1000<br> Fax: 804.775.1061<br> www.mcguirewoods.com |

---

March 2, 2023

PRA Group, Inc.

120 Corporate Boulevard

Norfolk, Virginia, 23502

**PRA Group, Inc.** 

**Registration Statement on Form S-8** 

We have acted as counsel to PRA Group, Inc., a Delaware corporation (the "Company"), in connection with the preparation and filing by the Company of a Registration Statement on Form S-8 (the "Registration Statement") with the Securities and Exchange Commission (the "Commission") on or about the date hereof pursuant to the Securities Act of 1933, as amended (the "Securities Act"). The Registration Statement relates to the registration of 3,764,323 shares of the Company's common stock, par value $0.01 per share (the "Shares"), issuable under the Company's 2022 Omnibus Incentive Plan (the "Plan").

This opinion letter is being furnished in accordance with the requirements of Item 8(a) of Form S-8 and Item 601(b)(5)(i) of Regulation S-K.

In connection with this opinion letter, we have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents and records of the Company, certificates of public officials and officers of the Company and such other documents, certificates and records as we have deemed necessary to render the opinions set forth herein, including, among other things, (i) the Company's Fifth Amended and Restated Certificate of Incorporation, as amended through the date hereof, (ii) the Company's Amended and Restated By-Laws, as amended through the date hereof, (iii) the Plan, (iv) the Registration Statement, (v) resolutions of the Company's Board of Directors approving the Plan and authorizing the registration and issuance of the Shares and (vi) a certificate issued by the Secretary of State of the State of Delaware on the date hereof to the effect that the Company is existing under the laws of the State of Delaware and in good standing (the "Good Standing Certificate").

For purposes of the opinions expressed below, we have assumed (i) the legal capacity of all natural persons, (ii) the genuineness of all signatures, (iii) the authenticity of all documents submitted to us as originals, (iv) the conformity to authentic original documents of all documents submitted to us as certified, electronic or photostatic copies and (v) the due authorization, execution and delivery of all documents by all parties and the validity, binding effect and enforceability thereof on such parties (other than the authorization, execution and delivery of certain documents by the Company).

Atlanta \| Austin \| Baltimore \| Charlotte \| Charlottesville \| Chicago \| Dallas \| Houston \| Jacksonville \| London \| Los Angeles - Century City

Los Angeles - Downtown \| New York \| Norfolk \| Pittsburgh \| Raleigh \| Richmond \| San Francisco \| Tysons \| Washington, D.C.

------

PRA Group, Inc.

March 2, 2023

As to factual matters, we have relied upon, and assumed the accuracy of, representations included in the documents submitted to us, upon certificates of officers of the Company and upon certificates of public officials, without independent investigation of their accuracy.

Based upon the foregoing and such other information and documents as we have considered necessary for the purposes hereof, and subject to the assumptions, qualifications and limitations stated herein, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company is a corporation validly existing and in good standing under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Shares have been duly authorized and, when and to the extent issued in accordance with the terms of the Plan and any award agreement entered into under the Plan, the Shares will be validly issued, fully paid and nonassessable.

The opinions expressed above are limited to the General Corporation Law of the State of Delaware in effect on the date hereof. We do not express any opinion as to the laws of any other jurisdiction.

The opinion set forth in paragraph 1 above as to the valid existence and good standing of the Company is based solely upon our review of the Good Standing Certificate.

We hereby consent to the filing of this opinion letter with the Commission as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.

This opinion letter is rendered as of the date hereof, and we disclaim any obligation to advise you of facts, circumstances, events or developments that hereafter may be brought to our attention and that may alter, affect or modify the opinion expressed herein. This opinion letter is expressly limited to the matters set forth above, and we render no opinion, whether by implication or otherwise, as to any matters beyond the matters expressly set forth herein.

Very truly yours,

/s/ McGuireWoods LLP

## Exhibit 23.1

**Exhibit 23.1** 

**Consent of Independent Registered Public Accounting Firm** 

We consent to the incorporation by reference in this Registration Statement on Form S-8 pertaining to the 2022 Omnibus Incentive Plan of PRA Group, Inc. of our reports dated February 27, 2023, with respect to the consolidated financial statements of PRA Group, Inc. and the effectiveness of internal control over financial reporting of PRA Group, Inc., included in its Annual Report (Form 10-K) for the year ended December 31, 2022, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

Richmond, Virginia

March 2, 2023

## Exhibit 23.2

**Exhibit 23.2** 

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| | |
|:---|:---|
| ![LOGO](g464922g40w52.jpg) |  |
| ![LOGO](g464922g40w52.jpg) | <br> KPMG LLP<br> Suite 1900<br> 440 Monticello Avenue<br> Norfolk, VA 23510 |

---

**Consent of Independent Registered Public Accounting Firm** 

We consent to the use of our report dated February 28, 2022, with respect to the consolidated financial statements of PRA Group, Inc. and subsidiaries, incorporated herein by reference.

/s/ KPMG LLP

Norfolk, Virginia

March 2, 2023

## Ex-Filing

**Exhibit 107** 

**CALCULATION OF FILING FEE TABLE** 

**Form S-8** 

(Form Type)

**PRA Group, Inc.** 

(Exact Name of Registrant as Specified in its Charter)

**Table 1 - Newly Registered Securities** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Security Type | Security<br>Class<br> Title | Fee<br>Calculation<br>Rule | Maximum<br> Aggregate<br> Offering<br> Price | Fee<br> Rate | Amount of<br> Registration<br> Fee |
| &nbsp;&nbsp;&nbsp;Equity | Common Stock, par value $0.01 per share, to be issued under the PRA Group, Inc. 2022 Omnibus Incentive Plan | Rules 457(c) and 457(h)3764323<sup>(2)</sup>$40.26<sup>(3)</sup> | $151551664<sup>(3)</sup> | 0.00011020 | $16701 |
| &nbsp;&nbsp;&nbsp;Total Offering Amounts | &nbsp;&nbsp;&nbsp;Total Offering Amounts | &nbsp;&nbsp;&nbsp;Total Offering Amounts | $151551664 |  | $16701 |
| &nbsp;&nbsp;&nbsp;Total Fee Offsets<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;Total Fee Offsets<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;Total Fee Offsets<sup>(4)</sup> |  |  | $0 |
| &nbsp;&nbsp;&nbsp;Net Fee Due | &nbsp;&nbsp;&nbsp;Net Fee Due | &nbsp;&nbsp;&nbsp;Net Fee Due |  |  | $16701 |

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(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this
Registration Statement on Form S-8 also covers such indeterminable number of additional shares of PRA Group, Inc. (the "Registrant") common stock, par value $0.01 per share ("Common
Stock"), as may become issuable under the 2022 Omnibus Incentive Plan (the "2022 Plan") to prevent dilution in the event of a reorganization, reclassification, stock split, dividend or distribution, or any similar transaction.

(2) Registers shares of Common Stock to be issued pursuant to future awards under the 2022 Plan.

(3) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and Rule 457(h)
under the Securities Act, based upon the average of the high and low prices of the Registrant's Common Stock as reported on the Nasdaq on February 24, 2023.

(4) The Registrant does not have any fee offsets.