Avis Budget amends cooperation agreement with SRS, raises voting cap to 45%

AVIS BUDGET GROUP, INC.

SRS voting cap increased from 35% to 45%; excess voting rights to be voted proportionally with other stockholders.
Board size fixed at 5-6 directors while SRS holds ≥10% of voting securities; SRS limited to 2 directors.
SRS currently holds ~49.5% voting rights, triggering proportional voting on excess above 45% immediately.
New restrictions on SRS selling shares to 10%+ holder unless that holder agrees to 5-year 'interested stockholder' treatment under DGCL.
Amendment requires special committee approval for any extraordinary transaction with SRS and ensures equal per-share consideration.

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