Exhibit 10.1

Execution Version

AMENDMENT NO. 13 TO THE CREDIT AGREEMENT

AMENDMENT NO. 13 to the Credit Agreement (as defined below), dated as of October 21, 2025 (this “Amendment”), among Cushman & Wakefield U.S. Borrower, LLC, a Delaware limited liability company (the “Borrower”), DTZ UK Guarantor Limited, a private limited company incorporated under the laws of England and Wales (“Holdings”), JPMorgan Chase Bank, N.A. (“JPMorgan Chase”), as administrative agent (in such capacity, the “Administrative Agent”), the Revolving Lenders party hereto, the Legacy Issuing Bank (as defined in the Amended Credit Agreement (as defined below)), and, solely for the purposes of Section 2.06 hereof, the Subsidiary Guarantors party hereto.

RECITALS

A. The “Credit Agreement” shall mean that certain Credit Agreement, originally dated as of August 21, 2018 (as amended on December 20, 2019, January 30, 2020, April 28, 2022, January 31, 2023, June 21, 2023, August 24, 2023, April 9, 2024, June 18, 2024, October 10, 2024, January 22, 2025, July 21, 2025 and October 1, 2025 and as further amended or otherwise modified prior to the Amendment No. 13 Effective Date (as defined below); and, after giving effect to the amendments pursuant to this Amendment, the “Amended Credit Agreement”) among, inter alios, the Borrower, Holdings, the Administrative Agent, the Collateral Agent and the Lenders party thereto.

B. Pursuant to Section 2.06(1) of the Credit Agreement, the Borrower hereby gives notice that it will reduce the Revolving Commitments by $100,000,000 (the “Amendment No. 13 RCF Reduction”) upon the consummation of the Transactions (as defined below) on the Amendment No. 13 Effective Date, such that the Revolving Commitments shall be reduced from $1,100,000,000 prior to the Amendment No. 13 Effective Date to $1,000,000,000 upon the occurrence of the Amendment No. 13 Effective Date. The Required Facility Lenders under the Revolving Facility hereby agree that, solely for the purposes of the Amendment No. 13 RCF Reduction, this recital B and the distribution thereof to the Revolving Lenders constitutes sufficient notice of the Amendment No. 13 RCF Reduction for the purposes of such Section 2.06(1).

C. Section 2.16(2) of the Credit Agreement permits the Borrower to request that all or a portion of the Revolving Commitments of any Class be converted or exchanged to extend the scheduled Maturity Date(s) of any payment of principal with respect to all or a portion of any amount of such Revolving Commitments, and that conversion or exchange take the form of the amendments to the Revolving Facility set forth on Exhibit A hereto. The Borrower, the Administrative Agent and the Revolving Lenders party hereto (which constitute the Required Facility Lenders under the Revolving Facility after giving effect to the replacement of the Non-Consenting Lenders pursuant to Section 3.07 of the Credit Agreement and Section 2.07 hereto) agree that the distribution of the draft of this Amendment shall constitute, for the purposes of the extension of the Maturity Date applicable to the Revolving Facility contemplated hereby only, the Revolving Extension Request relating to the extension of the scheduled Maturity Date for the Revolving Commitments contemplated by the immediately preceding sentence. The Borrower hereby requests that each of the Revolving Lenders, each of the Issuing Banks and the Swing Line Lender consent to such extension of maturity and agree to the amendments to the Revolving Facility (after giving effect to the Amendment No. 13 RCF Reduction) set forth on Exhibit A hereto (the transactions described in this paragraph, collectively, the “Transactions”);

D. Pursuant to Section 3.07 of the Credit Agreement, the Borrower has requested that each Assigning Lender (as defined below) assign all its interests, rights and obligations under the Credit Agreement with respect to the Revolving Facility, including its Revolving Commitment, Revolving Loans, L/C Obligations and L/C Commitment under the Credit Agreement (such interests, rights and obligations of each Assigning Lender, the “Assigned Commitment” of such Assigning Lender) to the Assignee Lenders, and the Assignee Lenders have agreed to assume such Assigned Commitments; the “Assignee Lenders” mean Bank of America, N.A., Capital One, National Association, MUFG Bank, Ltd., National Westminster Bank Plc, Standard Chartered Bank and Wheaton Bank and Trust Company, N.A..

E. For the purposes of this Amendment, the Existing Revolving Class shall be the Revolving Commitments in existence immediately prior to the Amendment No. 13 Effective Date (but as reduced by the Amendment No. 13 RCF Reduction) and the Extended Revolving Commitments (as reduced by the Amendment No. 13 RCF Reduction) shall be the Revolving Commitments as defined in the Amended Credit Agreement, and such Extended Revolving Commitments shall be deemed to be the “Closing Date Revolving Facility” under the Amended Credit Agreement. This Amendment shall constitute the Extension Amendment relating to the extension of maturity referred to in clause B above.

E. JPMorgan Chase, Bank of America, N.A., Barclays Bank PLC, Fifth Third Bank, National Association, HSBC Securities (USA) Inc., Wells Fargo Securities, LLC, Capital One, N.A., Morgan Stanley Senior Funding, Inc., MUFG Bank, Ltd. and U.S. Bank National Association, are the lead arrangers and bookrunners for this Amendment (in such capacity, the “Amendment No. 13 Lead Arrangers”) and National Westminster Bank Plc, Associated Bank, National Association, Standard Charted Bank and Wheaton Bank and Trust Company, N.A. are the co-managers for this Amendment.

ARTICLE I.

Amendment

SECTION 1.01. Amendment of Credit Agreement. Subject to the terms and conditions set forth herein, the Credit Agreement shall be amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in Exhibit A hereto. Exhibit S and Exhibit T of the Credit Agreement are each hereby amended and restated in their entirety as set forth in Exhibit B and Exhibit C attached hereto, respectively. With respect to the Revolving Commitments and L/C Commitments, Schedule 2.01 of the Credit Agreement is hereby amended and restated in its entirety as set forth in Exhibit D attached hereto.

SECTION 1.02. Defined Terms. Terms which are not defined in this Amendment shall have the meanings assigned to such terms in the Credit Agreement.

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SECTION 1.03. Type of Amendment. The Borrower and the Administrative Agent hereby agree that this amendment is an Extension Amendment and, in the opinion of the Administrative Agent and the Borrower, necessary and/or appropriate to effectuate the provisions of Section 2.16 of the Credit Agreement.

SECTION 1.04. Amendment Effectiveness. This Amendment shall become effective as of the first date (the “Amendment No. 13 Effective Date”) on which the following conditions have been satisfied or waived in accordance with the terms thereof:

(a) The Administrative Agent shall have received each of the following:

(i) (A) from (1) the Borrower, (2) Holdings, (3) the Administrative Agent, (4) each Extending Revolving Lender, (5) each Issuing Bank, (6) the Swing Line Lender, (7) the Assignee Lenders and (8) with respect to Section 2.06 only, the Subsidiary Guarantors, counterparts of this Amendment signed on behalf of such parties and (B) the English law governed security reaffirmation deed, dated as of the Amendment No. 13 Effective Date, entered into between Holdings, DTZ Worldwide Limited and the Collateral Agent;

(ii) a certificate of good standing from the secretary of state of the state of organization of each Loan Party (to the extent such concept exists in such jurisdiction), a customary certificate of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party certifying true and complete copies of the Organizational Documents referenced therein (or certifying that there have been no changes to such Organizational Documents or the relevant information in the incumbency certificates since the Amendment No. 12 Effective Date) and evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Amendment (or certifying that there have been no changes to such identity, authority and capacity of such Responsible Officers);

(iii) an opinion from each of (A) Simpson Thacher & Bartlett LLP, New York and Delaware counsel to the Loan Parties, (B) Blank Rome LLP, California counsel to the applicable Loan Parties, (C) Seyfarth Shaw LLP, Massachusetts counsel to the applicable Loan Parties, (D) Spencer Fane LLP, Missouri counsel to the applicable Loan Parties, and (E) Allen Overy Shearman Sterling LLP, England and Wales counsel to the Administrative Agent;

(iv) a certificate signed by a Responsible Officer of the Borrower certifying as to the satisfaction of the condition set forth in clause (c) below; and

(v) a solvency certificate from a Director of Holdings certifying as to the solvency of Holdings and its Subsidiaries on a consolidated basis after giving effect to the transactions contemplated by this Amendment, including the change of the Maturity Date with respect to the Extended Revolving Commitments, substantially in the form attached to the Credit Agreement as Exhibit I.

(b) all fees and expenses (in the case of expenses, to the extent invoiced at least three (3) Business Days prior to the Amendment No. 13 Effective Date (except as otherwise reasonably agreed by the Borrower)) required to be paid on the Amendment No. 13 Effective Date in connection with this Amendment, pursuant any letter agreements between the Borrower and the Amendment No. 13 Lead Arrangers shall have been paid.

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(c) The representations and warranties in Section 2.01 below shall be true and correct as of the Amendment No. 13 Effective Date.

(d) All accrued and unpaid interest and fees relating to the Revolving Facility under Section 2.03(9), Section 2.08 and Section 2.09(1) of the Credit Agreement shall have been paid.

For purposes of determining compliance with the conditions specified in this Section 1.04, by its execution of this Amendment, each Lender party hereto and Issuing Bank party hereto shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to such Lender party hereto or Issuing Bank party hereto.

The Amendment No. 13 Effective Date is October 21, 2025.

ARTICLE II.

Miscellaneous

SECTION 2.01. Representations and Warranties.

The Borrower represents and warrants to the Lenders party hereto, the Issuing Banks party hereto, the Swing Line Lender and the Administrative Agent that, as of the Amendment No. 13 Effective Date, (i) the representations and warranties of each Loan Party contained in Article V of the Credit Agreement or any other Loan Document (including this Amendment as a Loan Document for such purpose) are true and correct in all material respects on and as of the Amendment No. 13 Effective Date; provided that to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided further that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates and (ii) no Default or Event of Default exists, or would result from this Amendment.

SECTION 2.02. Counterparts. This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Amendment and/or any document to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include Electronic Signatures (as defined below), deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signature and Records Act, or any other similar state laws based on the Uniform Electronic Transaction Act. “Electronic Signatures” means any electronic symbol or process attached to, or associated with, any contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.

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SECTION 2.03. Suspension of Rights Cessation Notice. This Amendment serves as notice from the Borrower to the Administrative Agent that the Suspension of Rights Agreement, dated as of June 7, 2024, by and between the Borrower and the Administrative Agent and the Suspension of Rights (as defined therein) shall cease to have effect on the Amendment No. 13 Effective Date.

SECTION 2.04. Governing Law and Waiver of Right to Trial by Jury. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The jurisdiction and waiver of right to trial by jury provisions in Sections 10.16 and 10.17 of the Credit Agreement are incorporated herein by reference mutatis mutandis.

SECTION 2.05. Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

SECTION 2.06. Effect of Amendment and Reaffirmation. Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Each Guarantor hereby expressly reaffirms, as of the date hereof, its guarantee of the Obligations (including without limitation the Obligations in respect of the Extended Revolving Commitments) under the Guaranty and each Loan Party hereby expressly reaffirms, as of the date hereof, its prior grant of Liens on the Collateral to secure the Obligations (including without limitation the Obligations in respect of the Extended Revolving Commitments) pursuant to the Collateral Documents, which Liens shall continue in full force and effect for the benefit of the Collateral Agent and the other Secured Parties and shall extend to, and shall continue to secure the Loans made and other obligations of the Loan Parties under, the Amended Credit Agreement and the other Loan Documents. Neither the modification of the Credit Agreement effected pursuant to this Amendment, nor the execution, delivery, performance or effectiveness of this Amendment impairs the validity, effectiveness or priority of the Liens granted pursuant to any Loan Document, and all such Liens shall continue unimpaired with the same priority to secure repayment of all Obligations, whether heretofore or hereafter incurred. On and after the Amendment No. 13 Effective Date, each reference in the Amended Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the “Credit Agreement”, shall be a reference to the Amended Credit Agreement. From and after the Amendment No. 13 Effective Date, this Amendment shall be deemed a Loan Document for all purposes under the Amended Credit Agreement and the other Loan Documents.

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SECTION 2.07. Deemed Assignment and Replacement of Non-Consenting Lenders. Each Revolving Lender that is not consenting to the amendments to the Revolving Facility effectuated pursuant to this Amendment shall constitute a Non-Consenting Lender for purposes of Section 3.07 of the Credit Agreement and for purposes of this Amendment (such Revolving Lender in such capacity as a Non-Consenting Lender shall be referred to herein as an “Assigning Lender”), and the proviso in Section 3.07(a)(iii) shall apply as no Assigning Lender will execute an Assignment and Assumption relating to an Assigned Commitment. The Borrower hereby exercises its right pursuant to Section 3.07 of the Credit Agreement to require that the Assigning Lenders assign and delegate, without recourse, the aggregate amount of all of the Assigning Lenders’ Assigned Commitments to the Assignee Lenders, each which assignment shall occur immediately and automatically, without action by or consent of any Assigning Lender, upon satisfaction of the condition set forth in Section 1.04(d) above and the occurrence of the Amendment No. 13 Effective Date, and each Assignee Lender agrees to accept such assignment. After giving effect to the assignments of the Assigned Commitments referred to in the immediately preceding sentence, the Revolving Commitments and L/C Commitments of each Revolving Lender and Issuing Bank as of the Amendment No. 13 Effective Date are set forth opposite such Assignee’s name under the heading “Revolving Commitment” and “L/C Commitment”, as applicable, on the amended and restated Schedule 2.01 of the Credit Agreement as set forth in Exhibit D attached hereto, and the Assigning Lenders, for the avoidance of doubt, shall have no Revolving Commitments or L/C Commitments (subject to the rights and obligations of the Legacy Issuing Bank set forth in the Amended Credit Agreement). The parties hereto acknowledge and agree that each Assignee shall constitute a “Revolving Lender”, an “Issuing Bank” and a “Lender” for all purposes of the Credit Agreement and the other Loan Documents. The Borrower, the Administrative Agent, the Issuing Banks and the Swing Line Lender party hereto hereby grant the consents required by Sections 10.07(b)(iii)(A), (B), (C) and (D), respectively, of the Credit Agreement with respect to the assignment of the Assigned Commitments contemplated by this paragraph. The Administrative Agent hereby agrees to waive any assignment fee required pursuant to Section 10.07(b)(iv) of the Credit Agreement in connection with any Assigned Commitments, and each of the parties hereto agree to the manner of the assignment of the Assigned Commitments pursuant to this Section 2.07. The risk participations in all Letters of Credit outstanding immediately prior to the Amendment No. 13 Effective Date shall be reallocated among the Revolving Lenders as of the Amendment No. 13 Effective Date such that such risk participations shall be allocated on a ratable basis among the Revolving Lenders in accordance with their Revolving Commitments as set forth on Exhibit D.

SECTION 2.08. Removal of Co-Sustainability Structuring Agent. Each Revolving Lender (after giving effect to the replacement of any Non-Consenting Lenders pursuant to Section 3.07 of the Credit Agreement and Section 2.07 of this Amendment) hereby agrees that as of the Amendment No. 13 Effective Date, Crédit Agricole Corporate and Investment Bank shall be removed as Co-Sustainability Structuring Agent and Sustainability Structuring Agent under the Credit Agreement and no longer act as Co-Sustainability Structuring Agent and Sustainability Structuring Agent under the Credit Agreement.

SECTION 2.09. No Novation. This Amendment and the Amended Credit Agreement shall not constitute a novation of the Credit Agreement or any of the other Loan Documents.

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SECTION 2.10. Amendment, Modification and Waiver. This Amendment may not be amended nor may any provision hereof be waived except pursuant to a writing signed by each of the parties hereto.

SECTION 2.11. Severability. The severability provisions in Sections 10.15 of the Credit Agreement are incorporated herein by reference mutatis mutandis.

SECTION 2.12. Entire Agreement. This Amendment, the Credit Agreement and the other Loan Documents constitute the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the subject matter hereof.

[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their respective duly authorized officers as of the date first above written.


DTZ UK GUARANTOR LIMITED, as Holdings

By:		/s/ Neil Johnston
		Name: Neil Johnston
		Title: Director

CUSHMAN & WAKEFIELD U.S. BORROWER, LLC, as the Borrower

By:		/s/ Neil Johnston
		Name: Neil Johnston
		Title: Chief Financial Officer

Cushman & Wakefield plc 8-K