Item 2.02 Results of Operations and Financial Condition.

On May 2, 2022, Avis Budget Group, Inc. (The "Company") reported its first quarter 2022 results. The first quarter 2022 results are discussed in detail in the press release attached hereto as Exhibit 99.1, which is incorporated herein by reference.

The information in this item, including Exhibit 99.1, is being furnished, not filed. Accordingly, the information in this item will not be incorporated by reference into any registration statement filed by the Company, under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.




Item 8.01 Other Events.

Share Repurchase Program

On May 2, 2022, the Company's board of directors approved a $2.0 billion increase to the Company's existing share repurchase authorization. After giving effect to this increase, as of May 2, 2022, the Company had approximately $2.3 billion of available share repurchase authorization remaining.

Under the Company's stock repurchase program, the Company repurchases shares from time to time in open market transactions, and may also repurchase shares in accelerated share repurchases, tender offers, privately negotiated transactions or by other means. Repurchases may also be made under a plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The timing and amount of repurchase transactions will be determined by the Company's management based on its evaluation of market conditions, the Company's share price, legal requirements, restricted payment capacity under its debt instruments and other factors. The stock repurchase program may be suspended, modified or discontinued at any time without prior notice.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.

Exhibit No.         Description
99.1                  Press Release dated May 2, 2022.
104                 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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