On May 18, 2022, Curo Intermediate Holdings Corp. (Seller), a wholly owned subsidiary of CURO Group Holdings Corp. (the “ Company”), entered into an Equity and Asset Purchase Agreement with Sparrow Purchaser, LLC (Purchaser) and CCF Intermediate Holdings LLC (Parent Guarantor) pursuant to which Purchaser agreed to purchase from Seller all of the issued and outstanding equity interests of certain subsidiaries related to the Company's Speedy Cash, Rapid Cash and Avio Credit businesses (collectively, the “ Business”), along with specified assets related to the Business, for a purchase price of $310 million cash, subject to customary working capital and certain other adjustments.

In connection with the transactions contemplated by the purchase agreement, William Baker notified the Company of his intention to resign as the Company's President and Chief Operating Officer. The date of Mr. Baker's resignation and departure from the Company will be fixed later this year and is expected to align with the closing of such transactions. It is further expected that Mr. Baker will accept a position with Purchaser upon closing of such transactions.