On December 30, 2016, PRA Group, Inc., and Michael J. Petit, President, Insolvency Investment Services of the Company, mutually agreed that Mr. Petit’s employment with the Company will cease effective February 6, 2017. Andrew Berardi, Managing Director of UK Insolvency Investment Services for the Company and a pioneer in the bankruptcy purchase market with over 20 years of experience, will assume Mr. Petit’s responsibilities.