CORPORATEGOVERNANCE CorporateGovernanceDocuments CorporateGovernanceDocuments CodeofBusinessConductandEthics Ourcredibilityandreputationdependuponthegoodjudgment,ethicalstandardsandpersonalintegrityofeachdirector, PRO executiveofficerandemployee.PayPalsCodeofBusinessConductandEthics(“CodeofConduct”)requiresthatour directors, executive officers and all other employees disclose actual or potential conflicts of interest and recuse XY S themselvesfromrelateddecisions.Directors,executiveofficersandotheremployeesareexpectedtoavoidanyactivity T A that is or has the appearanceof being a conflict of interest with the Company. This includes refraining from engaging in TEMENT activities that compete with, or are adverse to, the Company, or that interfere with the proper performanceof an individuals duties or responsibilitiesto the Company. In addition, our Code of Conduct prohibits the use of confidentialcompany information, companyassetsorpositionattheCompanyforpersonalgain. WeregularlyreviewourCodeofConductandrelatedpoliciestoensurethattheyprovideclearguidance.Additionally,to foster a strong culture of complianceand ethics, we conductlocal outreachand awarenesssessions,as well as annual risk andcompliancetrainingforallemployeesandcontractors,whichcoversareassuchasourCodeofConduct,anti-money laundering,informationprotectionawareness,dataprivacy,safetyandsecurityandsexualharassmentprevention.In addition, upon joining PayPal and annually thereafter,our employeesmust certify that they understandand will comply with ourCodeofConduct.In2022,PayPalachieved100%completionforitsannualriskandcompliancetrainingfortheseventh consecutiveyear. ConcernsaboutaccountingorauditingmattersorpossibleviolationsofourCodeofConductshouldbereportedunder theproceduresoutlinedinourCodeofConduct.WealsoprovideaglobalIntegrityHelpline,whichisavailable24hoursa day, sevendaysaweekinmultiplelanguages.ReportstotheIntegrityHelplineareconfidentialandcanbemade anonymously. GovernanceGuidelinesoftheBoardofDirectors TheBoardhasadoptedGovernanceGuidelinestoserveasaframeworktoaidtheBoardineffectivelyconductingits business.TheGovernanceGuidelinescovermanyofthepoliciesandpracticesdiscussedinthisproxystatement, includingBoardmembercriteria,Boardcomposition,leadership,developmentandsuccession,expectationsformeeting attendanceandtherolesoftheBoardsstandingcommittees.TheGovernanceCommitteereviewstheGovernance GuidelineseachyearandrecommendschangestotheBoardforconsiderationandapprovalasnecessaryorappropriate in responsetochangingregulatoryrequirements,evolvingbestpracticesandotherconsiderations. WheretoFindOurGovernanceDocuments OurGovernanceGuidelines,chartersofourprincipalBoardcommittees,ourCodeofConductandotherkeycorporate governancedocumentsandmaterialsareavailableonthegovernancesectionofourInvestorRelationswebsiteat https://investor.pypl.com/governance/governance-overview/. RelatedPersonTransactions TheBoardhasadoptedawrittenpolicygoverningthereviewandapprovalofrelatedpersontransactions.Thepolicy, whichisadministeredbytheARCCommittee,appliestoanytransactionorseriesoftransactionsinwhich(1)theCompany or its consolidatedsubsidiaryis a participant,(2) the amount involved is or is reasonably expectedto be more than $120,000and(3)arelatedpersonunderthepolicyhasadirectorindirectmaterialinterest.Thepolicydefinesa“related person”toincludedirectors,directornominees,executiveofficers,beneficialownersofmorethan5%ofPayPals outstandingcommonstockoranimmediatefamilymemberofanyofthesepersons. Underthepolicy,transactionsrequiringreviewarereferredtotheARCCommitteeforpre-approval,ratificationorother action. ManagementwillprovidetheARCCommitteewithadescriptionofanyrelated-persontransactionproposedtobe approvedorratified,includingthetermsofthetransaction,thebusinesspurposeofthetransactionandthebenefitsto PayPalandtotherelevantrelatedperson.Indeterminingwhethertoapproveorratifyarelated-persontransaction,theARC Committeewillconsiderthefollowingfactors: • whetherthetermsofthetransactionarefairtotheCompany,andatleastasfavorabletotheCompanyastheywouldbe if the transaction did not involve a related person; • whethertherearedemonstrablebusinessreasonsfortheCompanytoenterintothetransaction; •2023ProxyStatement 33