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Investor PresentationFebruary 24-25, 2020

CONFIDENTIAL DO NOT DISTRIBUTE

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Certain statements in this presentation constitute “forward looking-statements” under the Private Securities Litigation ReformAct of 1995. Statements other than those of historical fact, as well as those identified by the words “anticipate,” “estimate,””intend,” “plan,” “expect,” “believe,” “may,” “will,” and “should” or any variation of the foregoing and similar expressions areforward-looking statements. Such forward-looking statements are about matters that are inherently subject to risks anduncertainties. Factors that could cause actual results or performance to differ from the expectations expressed or implied in suchforward-looking statements include the following: recently enacted, proposed or future legislation and the manner in which it isimplemented; the nature and scope of regulatory authority, particularly discretionary authority, that may be exercised byregulators having jurisdiction over the Company’s business or consumer financial transactions generically, including, but notlimited to, the Consumer Financial Protection Bureau (the “CFPB”), having jurisdiction over the Company’s business or consumerfinancial transactions generically; the unpredictable nature of regulatory proceedings and litigation; and any determinations,findings, claims or actions made or taken by the CFPB, other regulators or third parties that assert or establish that theCompany’s lending practices or other aspects of its business violate applicable laws or regulations; the impact of changes inaccounting rules and regulations, or their interpretation or application, which could materially and adversely affect theCompany’s reported financial statements or necessitate material delays or changes in the issuance of the Company’s auditedfinancial statements; the Company's assessment of its internal control over financial reporting, and the timing and effectivenessof the Company's efforts to remediate any reported material weakness in its internal control over financial reporting; changes ininterest rates; risks related to expansion and foreign operations; risks inherent in making loans, including repayment risks andvalue of collateral; the timing and amount of revenues that may be recognized by the Company; changes in current revenue andexpense trends (including trends affecting delinquencies and charge-offs); and changes in the Company’s markets and generalchanges in the economy (particularly in the markets served by the Company). These and other factors are discussed in greaterdetail in Part I, Item 1A, “Risk Factors” in the Company’s most recent annual report on Form 10-K for the fiscal year ended March31, 2019 filed with the Securities and Exchange Commission (“SEC”) and the Company’s other reports filed with, or furnished to,the SEC from time to time. World Acceptance Corporation does not undertake any obligation to update any forward-lookingstatements it makes.

Cautionary Note About Forward-Looking Statements

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Table of Contents

Company Overview and Key Investment Highlights

Financial Summary

Business and Portfolio Overview

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Company Overview and Key Investment Highlights

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Overview

CONFIDENTIAL DO NOT DISTRIBUTE

▪ 50+ year old small-loan consumer finance company

▪ Provides loans to individuals with limited access to credit

▪ Well positioned to capitalize on favorable supply/demand imbalance within the non-prime lending space

▪ Originated over $27 billion dollars worth of loans since 1994

▪ Focused on relationship-lending business model

▪ Current portfolio size ~ $1 billion in net loans

▪ Weighted average on net proceeds:

▪ APR – 56.8%

▪ Term – 16 months

▪ Loan amount - $1,194

Total: 1,193

Branch Count

FY2019 Data is through 3/31/2019

217

360 441

620

910

1,138 1,186 1,177 1,193

0

200

400

600

800

1,000

1,200

1,400

'94 '98 '02 '06 '10 '14 '16 '18 19

9

29

77 35

77

37

298

69

4727 65

107

78

95

124

19

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Net Charge-Offs

($ in millions)

_________________Note: Fiscal year-end is 3/31. (1) Return on Average Assets is calculated as net income over the Average Total Assets for the respective period. Average Total Assets are defined as a 5-quarter average, ending at the respective period end(2) 20+ Year Average represents average from 3/31/2000 to 3/31/2019(3) FY2018 adjusted to remove $15.4 million of tax expense related to the one-time discrete revaluation of the deferred tax asset and the foreign transition tax recorded due to the passage of the Tax Cut and Jobs Act (TCJA)

20+ Year Average NCOs2: 14.4%

Net Income & Return on Average Assets1 & 3

$6 $9 $11 $8 $8 $7 $14 $16 $19 $23 $29 $34 $39

$48 $54 $57

$74

$89 $98 $101 $99 $103

$83

$68 $64 $74

8.2%

10.8%11.9%

8.2%7.2%

8.4%

9.7%8.8%

9.9%10.4%

11.7% 11.8% 11.9%12.6%

11.8%11.1%

13.2%

14.4% 14.2%13.4%

12.4% 12.7%

10.5%

9.0%8.3%

8.8%

0.0%

4.0%

8.0%

12.0%

16.0%

$0

$40

$80

$120

$160

$200

'94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19

Includes operating with strong and stable margins in various economic environments

Consistent Profitability

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Strong Balance Sheet and Cash Flow

Strong cash flows have allowed operations at low leverage levels

Leverage Profile (Debt/Equity)

Cash Flows From Operations

_________________Note: Fiscal year-end is 3/31(1) 20 - Year CAGR represents CAGR from 3/31/2000 to 3/31/2019(2) 20+ Year Average Leverage represents average from 3/31/2000 to 3/31/2019

($ in millions)

20+ Year Average Leverage2: .8x

1.5x 1.4x 1.3x 1.2x 1.1x0.8x 0.9x 0.6x

0.4x

0.5x 0.8x 0.9x 0.7x

0.4x 0.4x

0.7x1.1x

1.7x 1.6x

1.0x0.6x 0.5x 0.5x

0.0x

0.5x

1.0x

1.5x

2.0x

2.5x

3.0x

3.5x

4.0x

4.5x

'97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19

$21 $19 $21 $32 $39 $48 $55 $70 $88 $98 $110

$136 $154

$184 $200

$219 $232 $246 $242 $206 $219 $218

$245

$0

$50

$100

$150

$200

$250

$300

'97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19

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Traditional Loan Product Provider to Underserved Clients

PaydayPawnTraditional Installment

Credit Card

_________________Source: Company filings, CFPB, Center for Responsible Lending Report (Feb 2013), Wall Street Research(1) Center for Responsible Lending, “The State of Lending in America & its Impact on U.S. Households." Data represents 30-Day Balloon Payment Car-Title Loans(2) CFPB, “Payday Loans and Deposit Advance Products”

Auto Title Loans

Past Due Resolution

Auto debit bank account

Sale of loan collateral

Branch outreachCentralized calling

Sale to a 3rd partyRepo automobile

Loan Amortization

BalloonBalloon

Fully amortizing

Fixed, equal monthly payments

Revolving

Low minimum payment

Balloon

Credit Reporting

No reportingNo reportingReport to bureausReport to bureaus No reporting

Renewals Borrower’s optionAverage 0 – 3 renewals/year

Revolving

Underwriting Approach

Bank account and employment

Solely collateral value

Ability to payAbility to pay and

credit historySolely collateral

value

8 renewals/year1 9 renewals/year2

Simple and attractive product to an underserved customer base, focusing on the customer's stability, ability and willingness to pay

Average Term

2 - 3 weeks22 – 4 monthsLarge: 3-5 years

Small: 12-24 monthsRevolving 30 days1

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Business and Portfolio Overview

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World Acceptance Branch Overview

Branch Managers have full branch P&L responsibility promoting an ownership attitude

Representative BranchTypical Branch

PortfolioBranch EmployeesCharacteristics

▪ 1,500 square feet

▪ $1,470 per month lease

▪ Rural America –typically downtown or small strip center

▪ $950,000 gross loans receivables

▪ 735 accounts

▪ $456,000 avg. revenue during fiscal 2019

▪ 2.8 employees per branch

▪ Manager, Account Specialists

_________________Note: Data as of 3/31/2019

• Each Branch is operated by a state level company subsidiary.• Branches and personnel are licensed and insured as required by state

law.

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Historical Branch Growth

Branch Count Over Time

Conservative and disciplined manner of entering states and opening branches

1962 1974 1980 1991 1993 1996

July 1962: South Carolina

2000 2003 2010 2013

December 1974: Texas and Georgia

October 1980: Oklahoma

May 1991: Louisiana

April 1993: Tennessee

1996: Illinois, Missouri and New

Mexico

March 2000: Kentucky

January 2003: Alabama

December 2010: Wisconsin

September 2012: Indiana

2012 2014

October 2018: Utah

September 2013: Mississippi

_________________Note: Total branch count over time is as of 3/31/2019

2018

October 2014: Idaho

State Date of Entry 1995 2000 2005 2010 2015 2018 2019

South Carolina July '62 59 63 65 95 99 97 95

Georgia December '74 38 48 76 101 113 123 124

Texas December '74 93 135 164 229 300 291 298

Oklahoma October '80 33 43 51 82 83 71 69

Louisiana May '91 15 21 20 38 49 47 47

Tennessee April '93 6 35 55 95 107 105 107

Illinois September '9630

33 64 82 82 77

Missouri August '96 18 36 62 78 76 77

New Mexico December '96 13 20 39 44 38 37

Kentucky March '00 4 36 61 79 78 78

Alabama January '03 21 44 68 65 65

Wisconsin December '10 28 27 29

Indiana September '12 22 32 35

Mississippi September '13 12 25 27

Idaho October '14 8 20 19

Utah October '18 9

Total 244 410 577 910 1,172 1,177 1,193

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Loan Characteristics

World Acceptance operates predominately in the small-loan installment space

Small Installment –66%

Large Installment –34%

Size Average Term (1)

▪ Average: $3,645▪ Range: $2,500 to $20,000

▪ 23 months

▪ Average: $900▪ Range: $200 to $2,499 ▪ 12 months

Average APR (1)

▪ 68.6%

▪ 33.9%

_________________(1) Weighted average based on initial net proceeds

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Portfolio Overview

Portfolio By Geography1

Diversified Portfolio by Geography and Beacon Score

▪ No state has greater than a 21% loan concentration

▪ Larger loans (>$2,500) have been growing as a percentage of the portfolio

▪ Currently comprise approximately one-third of World Acceptance’s loan portfolio

_________________(1) Based on gross loans receivable as of 3/31/2019(2) Represents U.S. portfolio, data as of 3/31/2019(3) Other states include Louisiana, New Mexico, Wisconsin, Indiana, Mississippi, Idaho and Utah

20.7%

12.9%

11.6%

9.0%

8.3%

7.0%

6.9%

7.1%

5.0%

11.5%Texas

Missouri

Oklahoma

Illinois

KentuckyTennessee

Georgia

Alabama

South Carolina

Other

Portfolio By Beacon Score2

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

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Portfolio Overview Continued

Portfolio By APR1

Deep knowledge of its borrower base has enabled World Acceptance to lend effectively across the non-prime segment

▪ Approximately 27% of the loans in the U.S. portfolio have APRs of 36% or less

▪ Approximately 92% of U.S. loans have an APR of less than 100%

▪ Portfolio spreads across a broad spectrum of borrowers

(1) Data as of 3/31/2019

27.0%23.9%

13.6%

4.7% 4.8%3.7%

13.8%

8.4%

0.1%0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

0%-36%

37%-50%

51%-60%

61%-70%

71%-80%

81%-90%

91%-99%

100%-149%

150%-200%

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Rigorous Loan Underwriting Process

• Time-tested underwriting principles produce consistently strong performance

• Mitigate net charge-off volatility through various economic cycles

• Stability, ability and willingness to pay

• Underwriting policies with objective credit evaluation criteria, including a custom in-house credit grade calculated for each new borrower

• Relationship-based branch lending enhances servicing effectiveness

• Establishes initial contact with the borrower, building an ongoing

customer relationship

• Individual loan approval authority based on experience and position

• Generally decentralized loan approval and collections

• Comprehensive analytical and management oversight

Detailed underwriting coupled with analytics and an understanding of the local demographic profile has yielded strong performance

Take Application

Budget Review

Verify Job, Residence and Credit References

Loan Decision

Execute Documents

Disburse Funds

Review Credit and Custom Credit Based Borrower Grade

1

2

3

4

5

6

7

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Robust Collections Process

▪ Internal data system generates customizable notices on delinquent accounts

▪ Friendly text message payment reminders sent once per week to every opt-in customer with payment due the following week

▪ Accounts 30+ days past due considered an advanced collection situation

▪ Accounts charged off after 180 days

▪ Extensions allowed in special situations

▪ All charge-offs reviewed and approved by district managers

▪ Branch managers earn up to 10% of Monthly Rating Sheet Profit if certain delinquency, profitability and growth goals are met

▪ Other branch staff also earn a percentage of Monthly Rating Sheet Profit based on the performance of the branch

Collection Process

Branch Incentive Program

Early Stage Mid Stage Late Stage

▪ Automatic reminder letters

▪ Branch follow-up calls

▪ Text messages

▪ Payment incentives

▪ Escalated letter campaign

▪ Phone additional contacts

▪ Begin migration to centralized collection process

▪ Internal Recovery Unit (IRU) Charge-off decisioning

▪ Third party collections

World Acceptance follows a robust collection process making numerous attempts to work with the customer prior to charging-off a loan

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Portfolio Composition and Credit Performance

Gross Loan Balance by Customer Tenure at Origination Portfolio Mix by Customer Tenure at Origination

Period Ended Less than 2 Years More Than 2 years Total

12/31/15 $331,976,598 $792,223,760 $1,124,200,358

12/31/16 $303,303,989 $761,820,791 $1,065,124,780

12/31/17 $337,780,636 $789,638,745 $1,127,419,381

12/31/18 $428,032,549 $830,875,356 $1,258,907,905

12/31/19 $487,842,960 $884,925,620 $1,372,768,580

YOY Change in Gross Loan Balance by Customer Tenure at Origination ($'s) Indexed 3rd Quarter Charge-off Rates by Tenure Since Fiscal 2016

Period Ended Less than 2 Years More Than 2 years Total

12/31/15 ($27,383,334) ($11,650,372) ($39,033,706)

12/31/16 ($28,672,609) ($30,402,969) ($59,075,578)

12/31/17 $34,476,647 $27,817,954 $62,294,601

12/31/18 $90,251,913 $41,236,611 $131,488,524

12/31/19 $59,810,411 $54,050,264 $113,860,675

YOY Change in Gross Loan Balance by Customer Tenure at Origination (%'s)

Period Ended Less than 2 Years More Than 2 years Total

12/31/15 (7.6%) (1.5%) (3.4%)

12/31/16 (8.6%) (3.8%) (5.3%)

12/31/17 11.4% 3.7% 5.8%

12/31/18 26.7% 5.2% 11.7%

12/31/19 14.0% 6.5% 9.0%

Rapid portfolio growth in recent years has shifted the weighting of less tenured customers

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Portfolio Composition and Credit Performance (contd.)

Portfolio Mix by Customer Tenure at Origination

Period Ended Less Than 2 Years More Than 2 Years

12/31/15 29.5% 70.5%

12/31/16 28.5% 71.5%

12/31/17 30.0% 70.0%

12/31/18 34.0% 66.0%

12/31/19 35.5% 64.5%

Indexed 3rd Quarter Charge-off Rates by Tenure Since Fiscal 2016

3 Months Ended Less Than 2 Years More Than 2 Years Total

12/31/15 1.47 0.61 0.86

12/31/16 1.69 0.74 1.00

12/31/17 1.54 0.65 0.91

12/31/18 1.65 0.68 0.99

12/31/19 1.70 0.64 1.02

Key Notes

▪ When comparing the 3rd quarters of FY ‘17 and ‘20, the charge-off rate of the lower-tenure population increased by 0.7% while the higher-tenure population’s rate decreased 12.5%.

▪ Even with essentially the same charge-off rate in the lower-tenure population and reduction in the higher-tenure population, the increase in portfolio weight of the lower-tenure group has led to an overall increase in the charge-off rate of 2.2% over this period.

▪ The Company continues to expect the return on these pools of customers to exceed its cost of capital and be in line with long-term performance expectations.

Effects of portfolio growth and customer tenure continue to impact overall charge-off rates

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Credit Performance

Net Charge-Offs

Loan Delinquency – 61+ Days

Rigorous underwriting standards have led to stable performance across economic cycles

14.7%14.6% 14.8%13.4%

14.7%16.7%

15.4%14.1% 13.8% 13.7% 14.6%

12.8%15.0%

16.2%14.9%

16.1%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Net Charge-offs

2.3% 2.5% 2.1% 2.2% 2.6% 2.7% 2.3% 2.4% 2.4% 2.6% 2.9%

4.2% 4.4%5.0% 5.4% 5.8%

3.8%4.1%

3.4% 3.6% 4.0% 4.2% 3.8% 3.8% 3.8% 4.2%4.9%

6.2% 6.5%7.0%

7.5% 7.8%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Recency Contractual

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Risk Management

High Levels of Management Involvement

Culture of Compliance

Management Controls

▪ Regulatory matters

▪ Setting policy and procedures

▪ Risk oversight and management

▪ Information technology

▪ Annual risk and fraud assessments

▪ Addressing state audit reports

Information System Controls

and Security Infrastructure

Internal Audit Department

▪ Quarterly supervision of each branch

▪ Compliance monitoring

▪ Surprise cash counts

▪ Data Analytics

▪ Monthly underwriting and loan

documentation reviews

▪ Detailed operational performance

monitoring

3 L

ines o

f D

efe

nse M

odel

▪ Unified loan management platform provides

strong IT control structure

▪ Proprietary platform fully customizable

▪ Detailed branch statistics and monitoring

▪ 12 full-time auditors

▪ 9-18 month frequencies

▪ Loan documentation audits

▪ Detailed risk and fraud assessment process

▪ Risk-based audit approach focused on

high-risk areas and fraud prevention and

detection

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Risk Management

World Acceptance has built a culture of compliance that anticipates and adapts to a constantly changing regulatory environment

▪ Implement controls to address weaknesses noted during risk assessments, branch audits, external

compliance audits, state regulatory audits and customer complaints

▪ Aligning the compliance program with changing business and regulatory conditionsControl

▪ Continuously monitor trends in branch audits, state regulatory audits and customer complaints for

quick identification of systemic issues

▪ Participate and consult on key business initiativesMonitor

▪ Maintain a compliance program to identify deficiencies within our business processes

▪ Perform compliance and fair lending risk assessments

▪ Review all regulatory environment changes and translating those to changes in policies and procedures

Identify

▪ Monthly detailed reporting throughout the business

▪ Quarterly reporting to the Board, Board Committees and senior management

▪ Escalation of high-risk systemic issuesReport

▪ Develop branch-level compliance training for key risk areas and systemic issues

▪ Ensure all employees and directors receive annual compliance trainingTrain

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Financial Summary

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Gross Loans Receivables Loan Origination Volume

Revenue Earnings Per Share (1)

Historical Financial Performance

($ in millions)

($ in millions)($ in millions)

_________________Note: Fiscal year-end is 3/31. Data is through 3/31/2019.(1) FY2018 adjusted to remove $15.4 million of tax expense related to the one-time discrete revaluation of the deferred tax asset and the foreign transition tax recorded due to the passage of the Tax Cut and Jobs Act (TCJA)

$2,702 $2,840 $2,788 $2,564 $2,473

$2,361 $2,487

$2,720

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2012 2013 2014 2015 2016 2017 2018 2019

$912 $982 $1,015 $1,016

$965 $943 $1,004

$1,128

$0

$200

$400

$600

$800

$1,000

$1,200

2012 2013 2014 2015 2016 2017 2018 2019

$505

$543

$567 $577

$515

$491 $503

$545

$440

$460

$480

$500

$520

$540

$560

$580

$600

2012 2013 2014 2015 2016 2017 2018 2019

$6.39

$7.62 $8.44

$11.05

$9.59

$7.72 $7.20

$8.03

$-

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

2012 2013 2014 2015 2016 2017 2018 2019

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Return on assets and equity

14.2%13.4%

12.4%12.7%

10.5%9.0% 8.3% 8.8%

23.6%

26.6%

30.0%

36.1%

25.3%

17.1%

13.9% 13.6%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

2012 2013 2014 2015 2016 2017 2018 2019

Return on Average Assets Return on Average Equity

25