VAIL RESORTS INC

Director and Officer Rule 10b5-1 Trading Arrangements

During the three months ended July 31, 2025, the following directors or executive officers adopted, modified or terminated contracts, instructions or written plans for the purchase or sale of our common stock that were intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or “non-Rule 10b5-1 trading arrangements”:

(1)On June 9, 2025, William Rock, the Company’s President, Mountain Division, terminated his pre-existing trading plan (adopted March 13, 2025), which provided for the sale of up to 2,112 shares underlying share appreciation rights

(awarded on September 25, 2015 and expiring on September 25, 2025), with an initial expiration date of September 25, 2025.

Whistler Credit Agreement

On September 24, 2025, we entered into the First Amending Agreement to the Whistler Credit Agreement (the “Amendment”). The Amendment (i) extended the maturity date to September 24, 2030; (ii) reduced the total commitment from C$300.0 million to C$250.0 million; (iii) amended the financial reporting covenants to provide that Whistler Blackcomb Holdings, Inc. deliver unaudited, rather than audited, consolidated yearly financial statements; (iv) with regard to available interest rates for borrowings under the facility, replaced existing Canadian Dollar Offered Rate (“CDOR”) provisions with Canadian Overnight Repo Rate Average ("CORRA") provisions to address the discontinuation of CDOR which occurred in June 2024; and (v) incorporated contractual recognition of EU bail-in clauses, and (vi) required interest payments be payable monthly, rather than quarterly, on Prime Rate and Base Rate Advances. No other significant terms of the agreement were amended.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached as Exhibit 10.20 hereto and is incorporated by reference herein.