X0609 4 2026-03-20 0 0000723612 AVIS BUDGET GROUP, INC. CAR 0001425851 Pentwater Capital Management LP false 1001 10TH AVENUE SOUTH SUITE 216 NAPLES FL 34102 0 0 1 0 0002121021 Halbower Matthew false 1001 10TH AVENUE SOUTH SUITE 216 NAPLES FL 34102 0 0 1 0 0 Common Stock, par value $0.01 per share ("Common Stock") 2026-03-20 4 X 0 1236300 110 A 6673600 I See footnote Common Stock 2026-03-20 4 X 0 376600 120 A 7050200 I See footnote Common Stock 2026-03-20 4 X 0 53800 125 A 7104000 I See footnote Common Stock 2026-03-20 4 X 0 4300 130 A 7108300 I See footnote Common Stock 2026-03-20 4 X 0 60000 110 D 7048300 I See footnote Put Option (obligation to buy) 110 2026-03-20 4 X 0 12363 0 D 2026-03-20 Common Stock 1236300 0 I See footnote Put Option (obligation to buy) 120 2026-03-20 4 X 0 3766 0 D 2026-03-20 Common Stock 376600 0 I See footnote Put Option (obligation to buy) 125 2026-03-20 4 X 0 538 0 D 2026-03-20 Common Stock 53800 0 I See footnote Put Option (obligation to buy) 130 2026-03-20 4 X 0 43 0 D 2026-03-20 Common Stock 4300 0 I See footnote Put Option (right to sell) 110 2026-03-20 4 X 0 600 0 D 2026-03-20 Common Stock 60000 0 I See footnote Call Option (obligation to sell) 150 2026-03-20 4 E 0 600 0 D 2026-03-20 Common Stock 60000 0 I See footnote Call Option (obligation to sell) 150 2026-03-20 4 E 0 11138 0 D 2026-03-20 Common Stock 1113800 0 I See footnote Call Option (obligation to sell) 240 2026-03-20 4 E 0 1000 0 D 2026-03-20 Common Stock 100000 0 I See footnote Call Option (obligation to sell) 260 2026-03-20 4 E 0 12303 0 D 2026-03-20 Common Stock 1230300 0 I See footnote Call Option (obligation to sell) 270 2026-03-20 4 E 0 6150 0 D 2026-03-20 Common Stock 615000 0 I See footnote Call Option (obligation to sell) 280 2026-03-20 4 E 0 8350 0 D 2026-03-20 Common Stock 835000 0 I See footnote Call Option (obligation to sell) 290 2026-03-20 4 E 0 3700 0 D 2026-03-20 Common Stock 370000 0 I See footnote Call Option (obligation to sell) 310 2026-03-20 4 E 0 100 0 D 2026-03-20 Common Stock 10000 0 I See footnote This Form 4 is filed by Pentwater Capital Management LP ("PCM") and Matthew Halbower ("Mr. Halbower") (collectively, the "Reporting Persons") with respect to securities held by certain funds (the "Pentwater Funds") to which PCM serves as investment adviser. Mr. Halbower is the sole shareholder of MCH PWCM Holdings Inc., the general partner of PCM. Each of the foregoing disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Exercisable at any time. /s/ Pentwater Capital Management LP, By: /s/ MCH PWCM Holdings Inc., General Partner, By: Matthew Halbower, Chief Executive Officer 2026-03-24 /s/ Matthew Halbower 2026-03-24