UPBOUND GROUP Business Summary

Upbound Group, Inc. (UPBD) operates a diversified omni-channel platform providing lease-to-own (LTO) and inclusive financial solutions tailored to underserved, non-prime consumers. The company generates revenue primarily through recurring lease payments (subscription-based) and transaction fees across four core business segments: Rent-A-Center (traditional brick-and-mortar LTO), Acima (fintech-driven virtual LTO and merchant solutions), Mexico, and Franchising. Following its 2023 rebranding and the acquisition of the financial wellness app Brigit, Upbound has transitioned into a technology-centric financial services firm. In the competitive landscape, Upbound maintains a leading market position alongside primary rivals PROG Holdings, Inc. (parent of Progressive Leasing), The Aaron's Company, Inc., and Katapult Holdings. It distinguishes itself through a dual-brand strategy that combines a massive physical retail footprint with high-growth, data-driven digital underwriting capabilities. Originally founded in 1960 by Thomas Devlin and W. Frank Barton as Rent-A-Center, the modern enterprise is led by Chief Executive Officer Fahmi Karam, who assumed the role in June 2025 after serving as the company’s CFO. The executive team was further strengthened in November 2025 with the appointment of Hal Khouri as Executive Vice President and CFO, bringing over 30 years of experience from firms like goeasy Ltd. Other key leaders include Rebecca Wooters (Chief Growth Officer) and Tyler Montrone (EVP, Acima). The company is overseen by Chairman Jeffrey Brown and maintains a high level of institutional backing, with major stakeholders including BlackRock, Inc., The Vanguard Group, and FMR LLC (Fidelity). Notable board members include former executives from Synchrony Financial and Xerox, reflecting a strategic focus on consumer finance and operational scale.