Aaron : Q1 2022 Company Overview

Company Overview April 25, 2022

Special Note Regarding Forward-Looking Information & Use of Non-GAAP Information

Statements in this presentation regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as "remain," "believe," "outlook," "expect," "assume," "assumed," and similar terminology. These risks and uncertainties include factors such as (i) any ongoing impact of the COVID-19 pandemic due to new variants or efficacy and rate of vaccinations, as well as related measures taken by governmental or regulatory authorities to combat the pandemic, including the impact of federal vaccine mandates on our workforce and whether additional government stimulus payments or supplemental unemployment benefits will be approved, and the nature, amount and timing of any such payments or benefits, (ii) the possibility that the operational, strategic and shareholder value creation opportunities expected from the separation and spin-off of the Aaron's Business into what is now The Aaron's Company, Inc. may not be achieved in a timely manner, or at all; (iii) the failure of that separation to qualify for the expected tax treatment; (iv) the risk that the Company may fail to realize the benefits expected from the acquisition of BrandsMart, including projected synergies; (v) risks related to the disruption of management time from ongoing business operations due to the acquisition; (vi) failure to promptly and effectively integrate the BrandsMart acquisition; (vii) the effect of the acquisition on our operating results and businesses and on the ability of Aaron's and BrandsMart to retain and hire key personnel or maintain relationships with suppliers; (viii) changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; (ix) legal and regulatory proceedings and investigations, including those related to consumer protection laws and regulations, customer privacy, third party and employee fraud and information security; (x) the risks associated with our strategy and strategic priorities not being successful, including our e-commerce and real estate repositioning and optimization initiatives or being more costly than anticipated; (xi) risks associated with the challenges faced by our business, including the commoditization of consumer electronics and our high fixed-cost operating model; (xii) increased competition from traditional and virtual lease-to-own competitors, as well as from traditional and online retailers and other competitors; (xiii) financial challenges faced by our franchisees; (xiv) increases in lease merchandise write-offs, and the potential limited duration and impact of government stimulus and other government payments made by Federal and State governments to counteract the economic impact of the pandemic; (xv) the availability and prices of supply chain resources, including products and transportation; and (xvi) the other risks and uncertainties discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Statements in this presentation that are "forward-looking" include without limitation statements about: (i) the execution of our key strategic priorities; (ii) the growth and other benefits we expect from executing those priorities; (iii) our 2022 financial performance outlook; (iv) the Company's goals, plans, expectations, and projections regarding the expected benefits of the BrandsMart acquisition; and (v) the impact on our 2022 financial performance of additional rounds of government stimulus payments. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this presentation.

This presentation contains certain financial information in a format not in accordance with generally accepted accounting principles in the United States ("GAAP"). Please see the appendix to this presentation for a definition of certain key performance indicators, such as same store revenues, and non-GAAP financial measures, such as EBITDA, adjusted EBITDA, adjusted EBITDA margin, non-GAAP net earnings, non-GAAP net earnings per share and free cash flow, shown in this presentation. Management believes that presentation of these non-GAAP and other financial measures are useful because it gives investors supplemental information to evaluate and compare the underlying operating performance from period to period. Non-GAAP financial measures, however, should not be used as a substitute for, or be considered superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation of each non-GAAP financial measure to the nearest comparable GAAP financial measure is included in the appendix to this presentation.

1

Aaron's Mission Guides Our Strategic Priorities

Mission:

Enhance people's lives by providing easy access to high-quality products through affordable lease and retailpurchase options

Aaron's Core Business Strategic Priorities

Aaron's Core Business Overview

Aaron's offers a compelling customer value proposition through an attractive recurring-revenue business model

Furniture (43%)

Omni-Channel Rent-to-Own Model

65+ Year Track Record (Founded in 1955)

1.9 Million Unique Customers Annually

$1.8 Billion Revenue

$110 Million Net Income

$234 Million Adj. EBITDA (2)

$136 Million Cash Flow from Ops (2)

$51 Million Free Cash Flow (2)

Woodhaven Furniture Manufacturing (40% of Volume) (3)

1,074

Company Stores

47

States + Canada

15

Fulfillment Centers

Source: Company Filings

236

Franchise Stores

706

Markets

24/7

Aarons.com

1 All figures reflect 12/31/2021 year-end results

3 Upholstered furniture and bedding only

5 For the year ended 12/31/21, other product categories comprise 3% of Total revenues

Home Appliances (31%)

Consumer Electronics (6) (16%)Computers (7%)

2 Reconciliations of Adjusted EBITDA and Free Cash Flow are included in the Appendix

4 As of 12/31/2021

6 Consumer Electronics includes televisions, gaming and audio

Aaron's Core Business Key Investment Highlights

Large, resilient customer base representing ~30% of the U.S.

population

Compelling customer value proposition driven by competitive pricing, high approval rates, and best-in-class customer service

Digitally enabled, omni-channel strategy that provides an integrated online and in-store experienceExpect to grow earnings, expand margins, and generate strong free cash flow by optimizing store footprint and executing a digital-first strategy