PROPOSAL6:STOCKHOLDERPROPOSAL–REPRODUCTIVERIGHTSANDDATAPRIVACY (3) Metrics on government requests for customer data received by the Company, including categories of requests and consumerdataproduced. PayPalsStatementinOpposition PRO PAYPALSBOARDRECOMMENDSTHATSTOCKHOLDERSVOTEAGAINST XY S THISPROPOSALFORTHEFOLLOWINGREASONS: T A Asaregulatedfinancialinstitution,westrivetobalanceourglobalcomplianceobligationswithourcommitmentto TEMENT protectingcustomerdataandcombattingglobalfinancialcrimes. Ourgoalistodeliverseamlessandtrustedpaymentexperiencesforourcustomerswhileatthesametimefulfillingour responsibilityto help ensure that paymentsmadeon our platformcomplywithapplicablelaw.Wecaredeeplyaboutthe confidentiality of our consumers and work to protect their privacy even while working closely with federal, state and local lawenforcementtopreventmisuseofourplatformandtoinvestigateseriouscriminalactivitiestoinclude,butnotlimited to, terrorist financing, child exploitation, human trafficking, narcotics trafficking and elder exploitation. In all cases, law enforcementcanonlyobtaincustomerinformationpursuanttoproperlegalserviceandthevalidityofeachrequestis thoroughlyevaluatedpriortothesharingofanyinformation. Thesuccessfulexecutionofourregulatoryandcompliancecommitmentsisparamounttodeliveringinclusivepayment solutions for our customersworldwide.Wetakethesecommitmentsseriouslyandhaveinvestedsignificantlyindeveloping ourenterprise-wideriskmanagementandcomplianceprogramsandcapabilities.Ourdetailedpoliciesregardingcustomer accounts,includingwhatinformationmaybecommunicatedtoanimpactedcustomer,aredesignedtobalance compliancewiththesecomplexregulationsandotherconsiderationsnecessarytomeetourobligationsunderapplicable lawsandmaintainthetrustofourcustomers. ThesafetyandprivacyofPayPalcustomersandtheirinformationisatopprioritythatthecompanytakesvery seriously,actinginaccordancewithallapplicablelaws. At PayPal, data privacy and protectionare central to the trusted relationship we have with our customers.We embody a privacy-first culture and proactive approach to data protection that prioritizes responsible use of data and customer empowermentthroughtransparency,education,privacy-by-designandproductinnovations. Wedevelopandmaintainrobustenterprise-widestandardsestablishedtodriveconsistencyinthemanagementand executionofprocessingpersonalinformationtosafeguardourcustomersandplatform.PayPalhasestablishedappropriate controlsthat reinforce our strategiesrelated to the collection, use, minimization and sharing of data, and does not engage in the sale of customer data. PayPalsPrivacyStatement,availableat https://www.paypal.com/us/legalhub/privacy-full, outlineshow we may use customerdataandunderwhatcircumstanceswemaydisclosedatatothirdparties,includingtoassistinprocessing payments,helpingtoprotectagainstfraudandmanagingrisk.Wetakestepstoensuretheongoingconfidentialityof personalinformation,includingsecuritymeasuresandcontractswiththirdpartiesthatlimittheuseofdatainaccordance with our policies and user preferences.We uphold a strong focus on data minimizationthat limits the collectionand access to data that is relevant and necessaryto delivering safe, secure and affordable products and services.This strategy,as well ascompliancewithfederalhealth-relatedprivacylaws,reducesthepotentialforPayPaltoholdthetypeofpersonal informationof interest to the Proponent.Any potential data that might be tangentiallyrelated to this topic constitutes a very limited portion of PayPal transactionsand customerinformationand is generallyhigh-leveland non-specific. Additionally, PayPal continues to empowerits customerswith meaningfulprivacyeducationon thechoicesandcontrols theyhaveregardingtheirpersonalandtransactionaldatathroughthePrivacyHubandself-serviceportal,availableat https://www.paypal.com/myaccount/privacy/privacyhub.Ourautomatedself-serviceportalenablesourcustomersinover 50countriesacrossEurope,Australia,AsiaandtheU.S.toexercisetheirindividualrighttoaccess,correct,modify,manage anddeletetheirpersonalinformationandmarketingchoices,asapplicable,pursuanttolegalretentionrequirements. *** OurBoardhasthoughtfullyconsideredthisproposalandgiventhecomprehensiveanddiligentprocessesandsystemsthatwe already employtoprotectcustomerconfidentialityandcomplywithapplicablelawsandregulations,aswellasthereasonsstated above,theBoardbelievestheadoptionofthisproposalisunnecessaryandisnotinthebestinterestsofPayPalandits stockholders. THEBOARDRECOMMENDSAVOTEAGAINSTSTOCKHOLDERPROPOSAL6. •2023ProxyStatement 101