PROXYSTATEMENTSUMMARY Our2022KeyHighlights OurStockPricePerformance PayPalhasatrackrecordofcreatingstockholdervalue,anddespitemarketvolatilityoverthepastyear,theCompanyhas returnedapproximately86%sincebecominganindependentpubliccompany.Ourone-year*andthree-year**total stockholderreturnwere-62%and-34%,respectively. PRO TotalStockholderReturn(“TSR”)asanIndependentPublicCompany*** XY S T A Revenue TEMENT in $ Billions $ 700 30 $27.5 600 25 500 20 400 15 300 +171% +108%10 200 +86% 100 5 0 0 2015 2016 2017 2018 2019 2020 2021 2022 PayPal Holdings, Inc. S&P 500 Index Peers Revenue * MeasuredfromDecember31,2021toDecember31,2022 ** MeasuredfromDecember31,2019toDecember31,2022 *** Assumes$100wasinvestedin2015. ^ MarketcapweightedpeerindexconsistsofADBE,GOOG,AMZN,AXP,AAPL,SQ,DFS,FIS,FISV,GPN,INTU,JPM,MA,META,NFLX,ORCL,CRM,NOW,V. Tolearnmoreabouthowour2022performancerelatestoourexecutivecompensationprogram,seetheCompensation DiscussionandAnalysisbeginningonpage50ofthisproxystatement. DrivingProgressonourMission,VisionandValues Overthepastyear,weremainedfocusedonfurtheringourmissiontobuildamorefinanciallyinclusiveandinterconnected world. Our teamsworkedquicklytogethertoenable$600millioninpeer-to-peerpaymentsandmoneytransferstosupport Ukrainian citizens and refugees. PayPal and its partners also helped to raise over $600 million through our platform for organizationstowardsUkrainianreliefefforts.We also providedhelpful productsto small businesses,entrepreneursand consumerstoimprovetheirfinancialflexibilityandresiliencyto weathertheuncertaineconomy.Throughourmerchant lendingservices,weprovidedaccesstomorethan$4billionincapital,expandedourZettleTerminaltomerchantsinthe U.S., launched PayPal RewardsandHoneyextensionforconsumerstosavemoneyoneverydaypurchasesandenabled secure,passwordlesslogintoPayPalaccountsacrossplatformsanddeviceswithpasskeys. Wehavealsocontinuedtopursueinitiativestostrengthenthefinancialsecurityofourworkforceandsupportaflexible workplace.Thisincludedfinancialwellnessawardstohourlyandentry-levelemployeesandarevisedvestingscheduleof ourrestrictedstockunit grantsto give employeesearlierandmorefrequentaccesstotheirshares.Welaunchedour LeadershipPrinciples,whichpromotebehaviorstosupportournextchapterofgrowthanddrivedeeperunderstandingof ourcorevaluesofInclusion,Innovation,WellnessandCollaboration.Wecontinuetohavesuccesswithourhybridworking model,whichpreservestheflexibilitythatis importantto our employeeswhilealsoprovidingopportunitiesforin-person collaborationandprofessionaldevelopment. •2023ProxyStatement 5