Pentwater Capital Management Significantly Increases Stake in Avis Budget Group to 22.2%

Pentwater Capital Management LP and Matthew Halbower have filed an amended Schedule 13G (Amendment No. 3) for Avis Budget Group, Inc. (CAR), reporting a significant increase in their position. As of March 31, 2026, the reporting persons beneficially own 7,824,100 shares of common stock, representing 22.2% of the company based on 35,324,685 shares outstanding. This is a substantial increase from their previously reported 12.3% stake (4,327,200 shares). The total ownership includes 775,800 shares issuable upon the exercise of call options. The reporting persons share voting and dispositive power over all reported shares. Pentwater Capital Management LP acts as the investment manager to various funds, including the Pentwater Merger Arbitrage Master Fund LTD, which holds more than 5% of the outstanding stock. The filing confirms that the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer. The principal business office for the reporting persons is located in Naples, Florida.