Material Agreement, Financial Obligation (Form 8-K)

On March 11, 2026 (the "Closing Date"), our Avis Budget Rental Car Funding (AESOP) LLC subsidiary ("ABRCF") issued $668.20 million of asset-backed securities with a maturity of three years and five years, respectively, comprised of $280.39 million aggregate principal amount of Series 2026-1 4.28%, Class A notes, $34.57 million aggregate principal amount of Series 2026-1 4.57%, Class B notes, $23.05 million aggregate principal amount of Series 2026-1 4.96%, Class C notes and $46.09 million aggregate principal amount of Series 2026-1 6.53%, Class D notes, as well as $207.40 million aggregate principal amount of Series 2026-2 4.60%, Class A notes, $25.55 million aggregate principal amount of Series 2026-2 5.00%, Class B notes, $17.05 million aggregate principal amount of Series 2026-2 5.44%, Class C notes and $34.1 million aggregate principal amount of Series 2026-2 7.04%, Class D notes. ABRCF also issued $20.62 million aggregate principal amount of Series 2026-1 8.000%, Class R notes and $15.25 million aggregate principal amount of Series 2026-2 8.522%, Class R notes, each of which are subordinated to the Class A notes, the Class B notes, the Class C notes and the Class D notes of the respective Series, and which were issued to comply with applicable U.S. risk retention rules. The Class R notes are held by our AESOP Leasing L.P. subsidiary. The notes were issued under the Series 2026-1 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2026-1 Agent (the "Series 2026-1 Supplement"), to the Second Amended and Restated Base Indenture, dated as of June 3, 2004 (as amended, the "Base Indenture") and the Series 2026-2 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2026-2 Agent (the "Series 2026-2 Supplement"), to the Base Indenture, respectively.

The notes are secured under the Base Indenture by vehicles in our domestic fleet and other related assets. The foregoing summary of the notes is qualified in its entirety by reference to the full text of the Series 2026-1 Supplement, a copy of which is attached hereto as Exhibit 10.1, and the Series 2026-2 Supplement, a copy of which is attached hereto as Exhibit 10.2, each of which is incorporated by reference herein.

Certain purchasers of the notes, the trustee and their respective affiliates have performed, and may in the future perform, various commercial banking, investment banking and other financial advisory services for us and our subsidiaries for which they have received, and will receive, customary fees and expenses.

The information described above under Item 1.01 of this report is incorporated into this Item 2.03 by reference.