Where can I find more information about the Securitization Transaction mentioned in the Benjamin Franklin Plumbing FDD?

According to the 2025 Benjamin Franklin Plumbing FDD, further details regarding the Securitization Transaction can be found in the footnotes and supplements to the financial statements, which are included as Exhibit I. The Securitization Transaction is referenced in Item 1 of the FDD, which discusses the restructuring of Villa BidCo, Inc. (now AB Inc.) and its affiliates as part of a secured financing transaction that closed on May 14, 2021.

Item 1 explains that as part of the Securitization Transaction, all existing U.S. Franchise Agreements and related agreements for Benjamin Franklin Plumbing businesses were transferred to Benjamin Franklin Franchising SPE LLC, making it the franchisor of all existing agreements. Additionally, ownership and control of all U.S. trademarks and certain intellectual property related to the operation of Benjamin Franklin Plumbing businesses were also transferred. AB Inc. provides support and services to Benjamin Franklin Plumbing franchisees under a management agreement with the company.

Item 21 includes the audited consolidated financial statements of AB Assetco LLC, the parent company, as of December 31, 2024 and 2023, and for the three years ending December 31, 2024. It also includes a Guarantee of Performance by AB Assetco. The financial statements of AB Inc. and subsidiaries are included for disclosure purposes. Item 21 states that certain subsidiaries of AB Inc., including Benjamin Franklin Plumbing, have guaranteed the indebtedness incurred in connection with the Securitization Transaction, and more information can be found in the footnotes and supplements to the financial statements in Exhibit I.