Exhibit 99.4

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

The unaudited pro forma condensed combined balance sheet combines the historical consolidated balance sheets of the Company and AFF (together, after the consummation of the Acquisition, the “Combined Company”), giving effect to the Acquisition as if it had been consummated on September 30, 2021. The unaudited pro forma condensed combined statements of income for the nine months ended September 30, 2020 and 2021 and for the year ended December 31, 2020 combine the historical consolidated statements of income of the Company and AFF, giving effect to the Acquisition as if it had been consummated on January 1, 2020, the beginning of the earliest period presented. The unaudited pro forma condensed combined statement of income for the twelve months ended September 30, 2021 is calculated by (i) adding (x) the unaudited pro forma condensed combined statement of income for the nine months ended September 30, 2021 to (y) the unaudited pro forma condensed combined statement of income for the year ended December 31, 2020 and (ii) subtracting the unaudited pro forma condensed combined statement of income for the nine months ended September 30, 2020.

These unaudited pro forma condensed combined financial statements are based upon available information and certain assumptions that Company management believes are reasonable under the circumstances. These unaudited pro forma condensed combined financial statements have been developed from and should be read in conjunction with (i) the unaudited interim consolidated financial statements of the Company contained in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 filed with the SEC, (ii) the unaudited interim consolidated financial statements of AFF for the quarter ended September 30, 2021 included as Exhibit 99.3 to this Current Report, (iii) the audited consolidated financial statements of the Company contained in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC and (iv) the audited consolidated financial statements of AFF for the fiscal year ended December 31, 2020 included as Exhibit 99.2 to this Current Report. The unaudited pro forma combined financial statements are provided for illustrative purposes only and do not purport to represent what the actual consolidated results of operations or the consolidated financial position of the Combined Company would have been had the Acquisition occurred on the dates assumed, nor are they necessarily indicative of future consolidated results of operations or consolidated financial position.

The historical consolidated financial statements of AFF have been adjusted by Company management to reflect certain reclassifications to conform with current financial statement presentation. Pro forma adjustments are included only to the extent they are (i) directly attributable to the Acquisition, (ii) factually supportable and (iii) with respect to the unaudited pro forma condensed combined statements of income, expected to have a continuing impact on the combined results. The unaudited pro forma condensed combined financial statements do not reflect the costs of any integration activities or benefits that may result from realization of future cost savings from operating efficiencies or revenue synergies expected to result from the Acquisition. The pro forma adjustments may differ materially from this preliminary determination as the Company completes the analysis of the fair value of assets acquired and liabilities assumed at the date of the Acquisition.

Unaudited Pro Forma Combined Balance Sheet

At September 30, 2021

(in thousands)

		Historical
		First Cash				American First Finance as presented (1)				Transaction Accounting Adjustments (2)								Other Transaction Accounting Adjustments (3)								Pro Forma Combined
Assets
Cash and cash equivalents		$	49,907			$	36,026			$	(533,037	)			3	(a)		$	497,104				4	(a)		$	50,000
Fees and service charges receivable			43,492				6,048				—								—								49,540
Pawn loans			348,993				—				—								—								348,993
Finance receivables, net			—				154,449				82,903				3	(b)			(45,894	)			4	(b)			191,458
Inventories			254,260				—				—								—								254,260
Leased merchandise, net			—				136,835				(3,199	)			3	(c)			—								133,636
Income taxes receivable			4,791				—				—								—								4,791
Prepaid expenses and other current assets			10,002				10,250				(4,775	)			3	(d)			—								15,477
Total current assets			711,445				343,608				(458,108	)							451,210								1,048,155
Property and equipment, net			411,042				11,728				(4,450	)			3	(e)			—								418,320
Operating lease right of use asset			300,040				—				607				3	(f)			—								300,647
Goodwill			1,014,052				—				411,042				3	(g)			—								1,425,094
Intangible assets, net			83,019				—				415,000				3	(h)			—								498,019
Other assets			8,413				—				—								—								8,413
Deferred tax assets			5,472				—				—								—								5,472
Total assets		$	2,533,483			$	355,336			$	364,091							$	451,210							$	3,704,120
Liabilities and Stockholders’ Equity
Accounts payable and accrued liabilities		$	87,629				24,794			$	(245	)			3	(i)		$	—							$	112,178
Customer deposits and prepayments			46,702				6,097				—								—								52,799
Income taxes payable			522				—				—								—								522
Lease liability, current			89,502				—				541				3	(f)			—								90,043
Total current liabilities			224,355				30,891				296								—								255,542
Revolving unsecured credit facilities			246,000				—				—								(20,796	)			4	(a)			225,204
Senior unsecured notes			493,499				—				—								517,900				4	(a)			1,011,399
Senior secured credit facility			—				213,200				(213,200	)			3	(j)			—								—
Deferred tax liabilities			78,191				—				39,330				3	(k)			—								117,521
Lease liability, non-current			197,618				—				66				3	(f)			—								197,684
Other liabilities			—				—				175,000				3	(l)			—								175,000
Total liabilities			1,239,663				244,091				(1,492	)							497,104								1,982,350
Commitments and contingencies
Stockholders’ equity:
Common stock			493				—				80				3	(m)			—								573
Additional paid-in capital			1,222,432				—				508,764				3	(m)			—								1,731,196
Retained earnings			849,438				—				(35,000	)			3	(n)			(45,894	)			4	(b)			768,544
Accumulated other comprehensive income (loss)			(125,761	)			—				—								—								(125,761	)
Common stock held in treasury, at cost			(652,782	)			—				—								—								(652,782	)
Equity			—				111,245				(111,245	)			3	(o)			—								—
Total stockholders’ equity			1,293,820				111,245				362,599								(45,894	)							1,721,770
Total liabilities and stockholders’ equity		$	2,533,483			$	355,336			$	364,091							$	451,210							$	3,704,120

The accompanying notes are an integral part of the unaudited pro forma combined financial statements.

(1) See Note 2 to the unaudited pro forma combined financial statements.

(2) See Note 3 to the unaudited pro forma combined financial statements.

(3) See Note 4 to the unaudited pro forma combined financial statements.

2

Unaudited Pro Forma Combined Statement of Operations

For the Year Ended December 31, 2020

(in thousands, except per share data)

		Historical
		First Cash				American First Finance as presented (1)				Transaction Accounting Adjustments (2)								Other Transaction Accounting Adjustments (3)								Pro Forma Combined
Revenue:
Retail merchandise sales		$	1,075,518			$	—			$	—							$	—							$	1,075,518
Pawn loan fees			457,517				—				—								—								457,517
Leased merchandise income			—				201,406				—								—								201,406
Interest and fees			2,016				146,576				(30,578	)			3	(p)			—								118,014
Wholesale scrap jewelry revenue			96,233				—				—								—								96,233
Total revenue			1,631,284				347,982				(30,578	)							—								1,948,688
Cost of revenue:
Cost of retail merchandise sold			641,087				—				—								—								641,087
Depreciation of leased merchandise			—				122,163				—								—								122,163
Provision for lease losses			—				21,187				(198	)			3	(q)			—								20,989
Provision for loan losses			(488	)			53,610				(352	)			3	(r)			—								52,770
Cost of wholesale scrap jewelry sold			79,546				—				—								—								79,546
Total cost of revenue			720,145				196,960				(550	)							—								916,555
Net revenue			911,139				151,022				(30,028	)							—								1,032,133
Expenses and other income:
Operating expenses			562,158				72,844				2,667				3	(s)			—								637,669
Administrative expenses			110,931				12,262				—								—								123,193
Depreciation and amortization			42,105				2,335				63,731				3	(t)			—								108,171
Interest expense			29,344				9,800				—								14,901				4	(c)			54,045
Interest income			(1,540	)			(411	)			—								—								(1,951	)
Merger and acquisition expenses			1,316				—				—								—								1,316
Loss on foreign exchange			884				—				—								—								884
Loss on extinguishment of debt			11,737				—				—								—								11,737
Write-offs and impairments of certain lease intangibles and other assets			10,505				—				—								—								10,505
Investment income			—				(4,406	)			4,406				3	(x)			—								—
Total expenses and other income			767,440				92,424				70,804								14,901								945,569
Income before income taxes			143,699				58,598				(100,832	)							(14,901	)							86,564
Provision for income taxes			37,120				—				(9,712	)			3	(w)			(3,427	)			4	(d)			23,981
Net income		$	106,579			$	58,598			$	(91,120	)						$	(11,474	)						$	62,583
Net income per share:
Basic		$	2.57																							$	1.26				3	(y)
Diluted		$	2.56																							$	1.26				3	(y)
Weighted average common shares outstanding:
Basic			41,502																								49,548				3	(y)
Diluted			41,600																								49,646				3	(y)

The accompanying notes are an integral part of the unaudited pro forma combined financial statements.

(1) See Note 2 to the unaudited pro forma combined financial statements.

(2) See Note 3 to the unaudited pro forma combined financial statements.

(3) See Note 4 to the unaudited pro forma combined financial statements.

3

Unaudited Pro Forma Combined Statement of Operations

For the Nine Months Ended September 30, 2021

(in thousands, except per share data)

		Historical
		First Cash				American First Finance as presented (1)				Transaction Accounting Adjustments (2)								Other Transaction Accounting Adjustments (3)								Pro Forma Combined
Revenue:
Retail merchandise sales		$	806,335			$	—			$	—							$	—							$	806,335
Pawn loan fees			346,796				—				—								—								346,796
Leased merchandise income			—				264,678				—								—								264,678
Interest and fees			—				162,444				(7,644	)			3	(p)			—								154,800
Wholesale scrap jewelry revenue			44,060				—				—								—								44,060
Total revenue			1,197,191				427,122				(7,644	)							—								1,616,669
Cost of revenue:
Cost of retail merchandise sold			468,634				—				—								—								468,634
Depreciation of leased merchandise			—				151,675				—								—								151,675
Provision for lease losses			—				56,957				1,105				3	(q)			—								58,062
Provision for loan losses			—				47,467				2,546				3	(r)			—								50,013
Cost of wholesale scrap jewelry sold			37,657				—				—								—								37,657
Total cost of revenue			506,291				256,099				3,651								—								766,041
Net revenue			690,900				171,023				(11,295	)							—								850,628
Expenses and other income:
Operating expenses		$	415,071				84,508				3,222				3	(s)			—								502,801
Administrative expenses			88,605				13,126				—								—								101,731
Depreciation and amortization			32,731				2,858				65,344				3	(t)			—								100,933
Interest expense			22,389				10,794				—								7,732				4	(c)			40,915
Interest income			(420	)			(2	)			—								—								(422	)
Merger and acquisition expenses			1,264				70				(70	)			3	(u)			—								1,264
Loss on foreign exchange			248				—				—								—								248
Write-off of certain Cash America merger related lease intangibles			1,640				—				—								—								1,640
PPP loan forgiveness			—				(4,716	)			4,716				3	(v)			—								—
Total expenses and other income			561,528				106,638				73,212								7,732								749,110
Income before income taxes			129,372				64,385				(84,507	)							(7,732	)							101,518
Provision for income taxes			33,834				—				(4,629	)			3	(w)			(1,778	)			4	(d)			27,427
Net income		$	95,538			$	64,385			$	(79,878	)						$	(5,954	)						$	74,091
Net income per share:
Basic		$	2.34																							$	1.52				3	(y)
Diluted		$	2.34																							$	1.52				3	(y)
Weighted average common shares outstanding:
Basic			40,745																								48,791				3	(y)
Diluted			40,789																								48,835				3	(y)

The accompanying notes are an integral part of the unaudited pro forma combined financial statements.

(1) See Note 2 to the unaudited pro forma combined financial statements.

(2) See Note 3 to the unaudited pro forma combined financial statements.

(3) See Note 4 to the unaudited pro forma combined financial statements.

4

Unaudited Pro Forma Combined Statement of Operations

For the Nine Months Ended September 30, 2020

(in thousands, except per share data)

		Historical
		First Cash				American First Finance as presented (1)				Transaction Accounting Adjustments (2)								Other Transaction Accounting Adjustments (3)								Pro Forma Combined
Revenue:
Retail merchandise sales		$	819,011			$	—			$	—							$	—							$	819,011
Pawn loan fees			343,675				—				—								—								343,675
Leased merchandise income			—				151,042				—								—								151,042
Interest and fees			2,003				100,400				(22,933	)			3	(p)			—								79,470
Wholesale scrap jewelry revenue			74,437				—				—								—								74,437
Total revenue			1,239,126				251,442				(22,933	)							—								1,467,635
Cost of revenue:
Cost of retail merchandise sold			493,436				—				—								—								493,436
Depreciation of leased merchandise			—				93,004				—								—								93,004
Provision for lease losses			—				13,832				(874	)			3	(q)			—								12,958
Provision for loan losses			(480	)			35,924				82				3	(r)			—								35,526
Cost of wholesale scrap jewelry sold			61,022				—				—								—								61,022
Total cost of revenue			553,978				142,760				(792	)							—								695,946
Net revenue			685,148				108,682				(22,141	)							—								771,689
Expenses and other income:
Operating expenses			426,612				51,826				1,980				3	(s)			—								480,418
Administrative expenses			85,642				9,185				—								—								94,827
Depreciation and amortization			31,424				1,641				47,879				3	(t)			—								80,944
Interest expense			21,953				7,007				—								11,519				4	(c)			40,479
Interest income			(1,209	)			(399	)			—								—								(1,608	)
Merger and acquisition expenses			209				—				—								—								209
Loss on foreign exchange			1,639				—				—								—								1,639
Loss on extinguishment of debt			11,737				—				—								—								11,737
Write-offs and impairments of certain lease intangibles and other assets			6,549				—				—								—								6,549
Investment income			—				(4,406	)			4,406				3	(x)			—								—
Total expenses and other income			584,556				64,854				54,265								11,519								715,194
Income before income taxes			100,592				43,828				(76,406	)							(11,519	)							56,495
Provision for income taxes			26,739				—				(7,493	)			3	(w)			(2,649	)			4	(d)			16,597
Net income		$	73,853			$	43,828			$	(68,913	)						$	(8,870	)						$	39,898
Net income per share:
Basic		$	1.78																							$	0.80				3	(y)
Diluted		$	1.77																							$	0.80				3	(y)
Weighted average common shares outstanding:
Basic			41,597																								49,643				3	(y)
Diluted			41,691																								49,737				3	(y)

The accompanying notes are an integral part of the unaudited pro forma combined financial statements.

(1) See Note 2 to the unaudited pro forma combined financial statements.

(2) See Note 3 to the unaudited pro forma combined financial statements.

(3) See Note 4 to the unaudited pro forma combined financial statements.

5

Unaudited Pro Forma Combined Statement of Operations

For the Trailing Twelve Months Ended September 30, 2021

(in thousands, except per share data)

		Historical																								Pro Forma Combined
		First Cash				American First Finance as presented (1)				Transaction Accounting Adjustments (2)								Other Transaction Accounting Adjustments (3)
Revenue:
Retail merchandise sales		$	1,062,842			$	—			$	—							$	—							$	1,062,842
Pawn loan fees			460,638				—				—								—								460,638
Leased merchandise income			—				315,042				—								—								315,042
Interest and fees			13				208,620				(15,289	)			3	(p)			—								193,344
Wholesale scrap jewelry revenue			65,856				—				—								—								65,856
Total revenue			1,589,349				523,662				(15,289	)							—								2,097,722
Cost of revenue:
Cost of retail merchandise sold			616,285				—				—								—								616,285
Depreciation of leased merchandise			—				180,834				—								—								180,834
Provision for lease losses			—				64,312				1,781				3	(q)			—								66,093
Provision for loan losses			(8	)			65,153				2,112				3	(r)			—								67,257
Cost of wholesale scrap jewelry sold			56,181				—				—								—								56,181
Total cost of revenue			672,458				310,299				3,893								—								986,650
Net revenue			916,891				213,363				(19,182	)							—								1,111,072
Expenses and other income:
Operating expenses			550,617				105,526				3,909				3	(s)			—								660,052
Administrative expenses			113,894				16,203				—								—								130,097
Depreciation and amortization			43,412				3,552				81,196				3	(t)			—								128,160
Interest expense			29,780				13,587				—								11,114				4	(c)			54,481
Interest income			(751	)			(14	)			—								—								(765	)
Merger and acquisition expenses			2,371				70				(70	)			3	(u)			—								2,371
Gain on foreign exchange			(507	)			—				—								—								(507	)
Write-offs and impairments of certain lease intangibles and other assets			5,596				—				—								—								5,596
PPP loan forgiveness			—				(4,716	)			4,716				3	(v)			—								—
Total expenses and other income			744,412				134,208				89,751								11,114								979,485
Income before income taxes			172,479				79,155				(108,933	)							(11,114	)							131,587
Provision for income taxes			44,215				—				(6,848	)			3	(w)			(2,556	)			4	(d)			34,811
Net income		$	128,264			$	79,155			$	(102,085	)						$	(8,558	)						$	96,776
Net income per share:
Basic		$	3.14																							$	1.98				3	(y)
Diluted		$	3.13																							$	1.98				3	(y)
Weighted average common shares outstanding:
Basic			40,864																								48,910				3	(y)
Diluted			40,921																								48,967				3	(y)

The accompanying notes are an integral part of the unaudited pro forma combined financial statements.

(1) See Note 2 to the unaudited pro forma combined financial statements.

(2) See Note 3 to the unaudited pro forma combined financial statements.

(3) See Note 4 to the unaudited pro forma combined financial statements.

6

Notes to Unaudited Pro Forma Condensed Combined Financial Information

Note 1 - Basis of Presentation

On October 27, 2021, the Company, New Parent, Atlantis Merger Sub, Inc., a wholly owned subsidiary of New Parent (“Merger Sub”), AFF, and the seller parties thereto, including Douglas Rippel, AFF’s founder and executive chairman, entered into an Agreement and Plan of Merger (the “Acquisition Agreement”). Pursuant to the Acquisition Agreement, the Company will acquire AFF by effecting (a) a holding company merger in accordance with Section 251(g) of the Delaware General Corporation Law whereby the Company will merge with and into Merger Sub, with the Company surviving such merger as a direct wholly owned subsidiary of New Parent and (b) immediately following the New Parent Merger, New Parent will acquire all of the equity interests of AFF from the seller parties in exchange for a base purchase price consisting of approximately 8.05 million shares of New Parent common stock and $406 million in cash, subject to certain adjustments including a net debt adjustment, and the right to receive up to an additional $400 million of consideration, consisting of a fixed working capital payment of $25 million payable at the end of 2022, earnout payments of up to $300 million if AFF achieves certain adjusted EBITDA targets following the closing of the Acquisition and a contingent payment of up to $75 million payable based on the Company’s stock performance through February 28, 2023.

The unaudited pro forma condensed combined financial statements were prepared using the acquisition method of accounting for business combinations pursuant to the provisions of Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”), with the Company considered the acquirer of AFF for accounting purposes. Accordingly, consideration given by the Company to complete the acquisition was allocated to the assets and liabilities of AFF based upon their estimated fair values as of the date of the acquisition. As of the date of this Current Report, the Company has not completed the valuation analysis of identifiable assets acquired and liabilities assumed. Accordingly, the adjustments are preliminary and are subject to further adjustments as additional information becomes available and as additional analyses are performed. The preliminary pro forma adjustments have been made solely for the purpose of providing the unaudited pro forma condensed combined financial statements. Increases or decreases in the fair value of relevant balance sheet amounts will result in adjustments to the balance sheet and/or statements of income until the allocation of acquisition consideration is finalized. There can be no assurance that such finalization will not result in material changes.

The unaudited pro forma condensed combined financial statements present the pro forma combined financial position and results of operations of the Combined Company based upon the historical financial statements of the Company and AFF, after giving effect to the acquisition and the adjustments described in these notes. The unaudited pro forma condensed combined financial statements are presented for illustrative purposes only and are not intended to reflect the financial position and results of operations which would have actually resulted had the acquisition been completed on the dates indicated. Further, the unaudited pro forma condensed combined financial statements do not reflect the costs of any integration activities or benefits that may result from realization of future cost savings due to operating efficiencies or revenue synergies expected to result from the acquisition.

The unaudited pro forma combined balance sheet gives effect to the acquisition as if it had been consummated on September 30, 2021 and includes estimated pro forma adjustments (to the extent they can be currently estimated) for the preliminary valuations of assets acquired and liabilities assumed. These adjustments are subject to further revision as additional information becomes available and additional analyses are performed. The unaudited pro forma combined statements of income give effect to the acquisition as if it had been consummated on January 1, 2020, the beginning of the earliest period presented.

The unaudited pro forma combined balance sheet has been adjusted to reflect the preliminary allocation of the estimated acquisition consideration to identifiable net assets acquired and the excess to goodwill. The allocation of the estimated acquisition consideration in these unaudited pro forma combined financial statements is based upon estimated aggregate acquisition consideration of approximately $1.1 billion which is calculated as follows (in thousands except share and per share amounts):

Shares of FirstCash, Inc. common stock to be issued			8,046,252
Price per share (1)		$	63.24
Estimated equity consideration of FirstCash, Inc. shares issued		$	508,844
Cash consideration paid to AFF Shareholders at closing (2)			276,337
Cash consideration paid to extinguish AFF pre-existing debt (3)			221,700
Cash or stock consideration payable to AFF Shareholders at the end of 2022			25,000
Estimated fair value of contingent consideration (4)			150,000
Less cash acquired			(36,026	)
Preliminary aggregate purchase consideration		$	1,145,855

7

(1) Based on the closing stock price on December 2, 2021.

(2) Calculated in accordance with the Acquisition Agreement as the base purchase price, plus cash on hand, less indebtedness, plus AFF closing costs up to $37.5 million, less the stock consideration, plus the tax gross up payment of $10 million.

(3) Includes an $8.5 million early termination penalty.

(4) Represents the estimated fair value of the earnout liability which may differ materially from this preliminary determination as the Company completes the analysis of the fair value of assets acquired and liabilities assumed. As of the date of this Current Report, the Company does not have sufficient information to make a reasonable preliminary estimate of the contingent payment of up to $75.0 million payable based on the Company’s stock price performance through February 28, 2023; therefore, no estimated liability for such contingent payment has been included at this time.

The table below represents a preliminary allocation of the total consideration to AFF’s tangible and intangible assets and liabilities based on the Company’s preliminary estimate of their respective fair values, net of cash acquired (in thousands):

Fees and service charges receivable		$	6,048
Finance receivables			237,352
Leased merchandise			133,636
Prepaid expenses and other current assets			5,475
Property and equipment			7,278
Operating lease right of use asset			607
Goodwill			411,042
Intangible assets			415,000
Accounts payable and accrued liabilities			(24,549	)
Customer deposits and prepayments			(6,097	)
Lease liability, current			(541	)
Deferred tax liabilities			(39,330	)
Lease liability, non-current			(66	)
		$	1,145,855

Note 2 - Reclassifications

The unaudited combined pro forma financial statements have been adjusted to reflect certain reclassifications of AFF’s financial statements to conform to the Company’s financial statement presentation.

Financial information presented in the “AFF as presented” column in the unaudited combined pro forma balance sheet as of September 30, 2021 has been reclassified to conform to the presentation of the Company as indicated in the table below (in thousands):

Presentation in American First Finance’s historical consolidated balance sheet		Presentation in unaudited pro forma combined consolidated balance sheet		As of September 30, 2021
Restricted cash and cash equivalents		Cash and cash equivalents			18,685
		Prepaid and other assets			507
Finance receivables, net		Finance receivables, net			154,449
		Fees and service charges receivable			1,800
		Prepaid and other assets			1,188
Leased merchandise, net		Leased merchandise, net			136,835
		Fees and service charges receivable			4,248
Accounts payable and accrued liabilities		Accounts payable and accrued liabilities			24,794
		Customer deposits and prepayments			143
Deferred lease liability		Customer deposits and prepayments			5,954

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Financial information presented in the “AFF as presented” column in the unaudited combined pro forma statement of income for the nine months ended September 30, 2020 and 2021 and the year ended December 31, 2020 have been reclassified to conform to the presentation of the Company as indicated in the table below (in thousands):

Presentation in American First Finance’s historical consolidated statements of income		Presentation in unaudited pro forma combined consolidated statements of income		Year ended December 31, 2020				Nine months ended September 30, 2021				Nine months ended September 30, 2020
Interest and fee income		Interest and fees			146,576				162,444				100,400
		Provision for lease losses			(35	)			—				—
		Provision for loan losses			(53	)			—				—
Other income		Leased merchandise income			2,179				6,345				1,206
		Interest income			411				2				399
		Merger and acquisition expenses			—				(70	)			—
Personnel expense		Operating expenses			26,719				26,064				19,990
		Administrative expenses			6,807				6,279				5,066
Servicing expense		Operating expenses			14,429				15,741				10,626
		Administrative expenses			64				58				27
Referral programs expense		Operating expenses			14,802				25,399				11,244
Occupancy and equipment expense		Administrative expenses			1,138				1,216				840
		Depreciation and amortization			2,335				2,868				1,641
Other operating expense		Provision for lease losses			356				546				274
		Operating expenses			16,894				17,304				9,966
		Administrative expenses			4,253				5,573				3,252
		Depreciation and amortization			—				(10	)			—

Note 3 - Transaction Accounting Pro Forma Adjustments (in thousands)

3(a) Represents (i) the estimated cash consideration of $276,337 paid to the seller as part of the acquisition and $221,700 paid to extinguish AFF’s pre-existing debt, which includes an early termination payment of $8,500 and (ii) the estimated transaction-related costs associated with the acquisition to be paid by the Company of approximately $35,000, which includes fees paid to financial, legal and accounting advisors, among others. See Note 1 for a calculation of the estimated aggregate purchase consideration.

3(b) Represents the adjustment in book value of AFF’s finance receivables, net of reserves, to a preliminary estimate of fair value including (i) a premium of $38,222 to reflect the estimated fair market value of finance receivables over the principal value, (ii) the elimination of $5,182 in net unearned origination fees, early payoff discount reserves and unamortized dealer discounts and premiums, net and (iii) the elimination of AFF’s historical loan loss reserve of $39,499. The fair value of the finance receivables may differ materially from this preliminary determination as the Company completes its analysis of the fair value.

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3(c) Represents the estimated fair value adjustment to leased merchandise. The fair value of the leased merchandise may differ materially from this preliminary determination as the Company completes the analysis of the fair value of assets acquired and liabilities assumed.

3(d) Represents the write-off of deferred debt issuance costs related to AFF’s senior secured credit facility, which will be repaid upon closing of the acquisition.

3(e) Represents the elimination of AFF’s capitalized software. The estimated fair value of AFF’s internally developed software is included in the developed technology intangible asset noted in 3(h).

3(f) Represents the adoption of ASC Topic 842 “Leases” to conform with the Company’s accounting for leases.

3(g) Goodwill is calculated as the difference between the fair value of the preliminary aggregate purchase consideration and the values assigned to the identifiable tangible and intangible assets acquired and liabilities assumed. The amount of goodwill presented in the table in Note 1 reflects the estimated goodwill as a result of the acquisition as of September 30, 2021. The actual amount of goodwill will depend upon the final determination of the fair value of the assets acquired and liabilities assumed and may differ materially from this preliminary determination. Approximately $378 million of the goodwill created in the acquisition is expected to be deductible for tax purposes excluding any potential earnout payments. The excess of the preliminary aggregate purchase consideration over the estimated fair value of the identifiable net assets acquired is calculated as follows:

Preliminary aggregate purchase consideration		$	1,145,855
Less: estimated fair value of net assets acquired			(734,813	)
Estimated goodwill arising from the acquisition		$	411,042

3(h) Intangible assets acquired as well as the estimated useful lives consist of the following:

Description		Estimated Value				Estimated remaining useful life (in years)
Merchant relationships		$	300,000				10
Developed technology			100,000				5
Trade name			10,000				2
Relationships with existing lessees			5,000				1
Total intangible assets		$	415,000

The fair value of the intangible assets and the estimated remaining useful lives may differ materially from this preliminary determination as the Company completes the analysis of the fair value of assets acquired and liabilities assumed. The merchant relationships are amortized using an accelerated amortization method that reflects the future cash flows expected from existing merchant relationships. Annual estimated amortization expense of the merchant relationships over each of the next five years is approximately $35,000, $59,000, $50,000, $39,000 and $31,000, respectively.

3(i) Represents the elimination of AFF’s accrued straight-line rent liability as AFF had not yet adopted ASC Topic 842 “Leases” as they were a private company.

3(j) Represents the repayment of AFF’s pre-existing senior secured credit facility that will be settled in conjunction with the close of the acquisition using the proceeds from the issuance of $525,000 in expected new debt financing.

3(k) Represents estimates of net deferred income tax liabilities resulting from pro forma fair value adjustments for the assets acquired and liabilities assumed based on the estimated statutory rate that would apply to these adjustments. This estimate of deferred taxes was determined based on the excess book basis over the tax basis of the fair value pro forma adjustments attributable to the net assets acquired. The incremental deferred tax assets and liabilities were calculated based on the statutory rates where fair value adjustments were estimated. This estimate of deferred income taxes is preliminary and is subject to change based upon management’s final determination of the fair value of assets acquired and liabilities assumed by jurisdiction.

3(l) Represents (i) the estimated fair value of $150,000 related to the potential earnout payments due if AFF achieves certain adjusted EBITDA targets following the closing of the Acquisition and (ii) a fixed working capital payment of $25,000 payable at the end of 2022. The fair value of the earnout liability may differ materially from this preliminary determination as the Company completes the analysis of the fair value of assets acquired and liabilities assumed. As of the date of this offering memorandum, the Company does not have sufficient information to make a reasonable preliminary estimate of the contingent payment of up to $75,000 payable based on the Company’s stock price performance through February 28, 2023; therefore, no estimated liability for such contingent payment has been included at this time.

3(m) Represents the issuance of New Parent stock to AFF shareholders in conjunction with the acquisition.

3(n) Represents the estimated remaining transaction-related costs associated with the acquisition, which includes fees paid for financial advisors, legal services and professional accounting services, among others.

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3(o) Represents the elimination of AFF’s historical equity balances as of September 30, 2021.

3(p) Represents the amortization of the premium resulting from the fair market value adjustment to finance receivables discussed in 3(b).

3(q) Represents the estimated increase/decrease in provision for leased merchandise to conform with the Company’s provisioning policy.

3(r) Represents the increase/decrease in provision for loan losses as a result of the adoption of a lifetime losses provisioning model in accordance with CECL. Being a private company, AFF was not required to adopt CECL until January 1, 2023.

3(s) Represents the Company’s estimate of the costs to maintain AFF’s internally developed software.

3(t) Represents (i) the reversal of depreciation expense related to AFF’s internally developed software and (ii) the estimated amortization resulting from the identified intangible assets noted in 3(h). The estimated intangible asset fair values, estimated useful lives and estimated amortization expense may differ materially from this preliminary determination as the Company completes the analysis of the fair value at the date of the acquisition.

3(u) Represents the elimination of historical acquisition-related transaction costs incurred in connection with the acquisition, principally legal and financial advisory fees, due to the non-recurring nature of these expenses.

3(v) Represents the elimination of a gain related to the forgiveness of a Paycheck Protection Program loan obtained by AFF due to the non-recurring nature of this gain.

3(w) Represents (i) the change in tax structure of AFF to a taxable entity and (ii) the tax effects of the pro forma transaction accounting adjustments described in the notes to the unaudited pro forma combined statements of income using the estimated statutory rate that would apply to these adjustments.

3(x) Represents the elimination of a gain related to the sale of certain equity securities by AFF due to the non-recurring nature of this gain.

3(y) The pro forma combined basic and diluted earnings per share for the year ended December 31, 2020, the nine months ended September 30, 2021 and 2020 and the trailing twelve months ended September 30, 2021 are calculated as follows (in thousands, except per share data):

		Year ended December 31, 2020				Nine months ended September 30, 2021				Nine months ended September 30, 2020				Trailing twelve months ended September 30, 2021
Weighted-average shares used in computing net earnings per share - basic			41,502				40,745				41,597				40,864
Shares of FirstCash, Inc. common stock estimated to be issued			8,046				8,046				8,046				8,046
Pro forma weighted-average shares used in computing net earnings per share - basic			49,548				48,791				49,643				48,910
Dilutive effect of securities			98				44				94				57
Pro forma weighted-average shares used in computing net earnings per share - dilutive			49,646				48,835				49,737				48,967
EPS - Basic		$	1.26			$	1.52			$	0.80			$	1.98
EPS - Diluted		$	1.26			$	1.52			$	0.80			$	1.98

Note 4 - Other Transaction Accounting Pro Forma Adjustments (in thousands)

4(a) In conjunction with the acquisition of AFF, the Company expects to incur $525,000 in new debt financing in the form of senior unsecured notes due in 2030, which will be used to pay the $276,337 of cash consideration of the acquisition, settle and extinguish AFF’s pre-existing senior secured credit facility of $221,700, which includes an early termination payment of $8,500,

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pay estimated remaining transaction-related costs associated with the acquisition of $35,000, which includes fees paid for financial advisors, legal services and professional accounting services, among others, and, along with the utilization of $35,933 of cash on hand, to paydown $20,796 of the Company’s revolving unsecured credit facility. The Company expects to incur approximately $7,100 of deferred financing fees related to the issuance of the new debt financing.

4(b) In accordance with CECL, for acquired financial assets that are not purchased with credit deterioration (non-PCD financial assets), the acquirer shall record the purchased financial assets at the acquisition-date fair value and a separate valuation allowance is not recognized under business combination accounting. Rather, an allowance shall be recorded with a corresponding charge to credit loss expense as of the reporting date. For assets accounted for as purchased financial assets with credit deterioration (PCD financial assets), an acquirer shall recognize an allowance with a corresponding increase to the amortized cost basis of the financial asset as of the acquisition date. The Company has not yet completed its determination of whether the purchased financial assets have experienced more-than-insignificant deterioration in credit quality but estimates the PCD finance receivables to be immaterial. The Company has estimated the necessary CECL loan loss reserve as of the reporting date to be $45,894, all of which the Company attributed to non-PCD finance receivables. As the establishment of the loan loss reserve for non-PCD finance receivables is not accounted for under business combination accounting (i.e., the allowance is recorded as a charge to credit loss expense as of the reporting date), the Company has reflected the establishment of the CECL loan loss reserve and corresponding charge to credit loss expense as another transaction accounting adjustment. The Company did not reflect the charge to credit loss expense in the pro forma combined statements of operations. While the credit loss expense under CECL is expected to be higher on a prospective basis, the CECL adoption adjustment was recorded to retained earnings.

4(c) Represents the net increase in interest expense resulting from estimated interest on the new senior unsecured notes expected to be incurred to finance the acquisition of AFF and the estimated amortization of related debt issuance costs, partially offset by the elimination of historical AFF interest expense and a decrease in interest expense as a result of the partial paydown of the Company revolving unsecured credit facility. The revolving unsecured credit facility utilizes a variable rate of LIBOR plus 250 bps and a 1/8th percent change in the assumed variable interest rate would not materially change annual pro forma interest expense.

4(d) Represents the tax effects of the pro forma other transaction accounting adjustments described in the notes to the unaudited pro forma combined statements of income using the estimated statutory rate that would apply to these adjustments.

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