Aaron's Investor Presentation — February 2020

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SAFE HARBOR STATEMENT & USE OF NON -GAAP INFORMATION

2Safe Harbor Statement:

Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this presentation regarding Aaron's, Inc.'s 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 "may, " "expect," "forecast," "guidance," "intend,"

"believe," "could," "project," "estimate," "anticipate," "should" and similar terminology. These risks and uncertainties include factors such as changes in federal and state laws

and regulations and related legal and regulatory investigations and proceedings; the effects on our business and reputation r esulting from our announcement on February 20,

2020 of Progressive Leasing’s (“Progressive”) agreement in principle with the staff of the FTC to resolve the matters related tothe civil investigative demand the FTC issued to

Progressive in July 2018, including the risk of losing existing retail partners or being unable to establish new partnerships with additional retailers, and of any follow -on regulatory

proceedings and/or civil litigation arising therefrom; other types of legal and regulatory proceedings and investigations, inclu ding those related to customer privacy, third party

and employee fraud ; our Progressive business potentially being subject to new or different laws and regulations, or courts orregulators misinterpreting and misapplying existing

laws and regulations to its business and/or to our Aaron’s Business; Progressive’s reliance on third -party retailers and the concentration of Progressive’s revenues with certain of

those retailers; the challenges faced by our Aaron’s Business, including the commoditization of the certain product categorie s; increased competition, and a high fixed- cost

operating model; the results of our strategic plan and business improvement initiatives for our Aaron’s Business not being successful; unfavorable media coverage and public

perception from activist groups, media or government agencies or elected officials disparaging our rent -to-own business and transactions; risks related to cybersecurity -related

intrusions or “hacking” into our systems and the loss, theft or unauthorized disclosure of information related thereto; our a ccess to data sources used in our decisioning models

and the effectiveness of those models; the ability of our franchisees to satisfy their obligations to us and their debt oblig ations, and operational and other failures by, and dispute