CORPORATEGOVERNANCE RelatedPersonTransactions • whetherthetransactionwouldimpairtheindependenceofanoutsidedirectorundertheCompanysdirector independencestandards;and • whetherthetransactionwouldpresentanimproperconflictofinterestforanydirectororexecutiveofficer,takinginto accountthesizeofthetransaction,theoverallfinancialpositionof therelatedperson,thedirectorindirectnatureof the related personsinterestin the transaction,the ongoing nature of any proposedrelationshipand any other factorsthe ARCCommitteedeemsrelevant. TheCompanyalsohaspracticesthataddresspotentialconflictsincircumstanceswhereanon-employeedirectorisa control personof an investmentfund that desiresto makean investmentin or acquirea companythatmaycompetewith oneoftheCompanysbusinesses.Underthosecircumstances,thedirectorisrequiredtonotifytheCompanysCEO, GeneralCounselandCorporateSecretaryoftheproposedtransaction,whothenassessthenatureanddegreetowhich theinvesteecompanyiscompetitivewithoneoftheCompanysbusinesses,aswellasthepotentialoverlapsbetweenthe Companyandtheinvesteecompany.Ifitisdeterminedthatthecompetitivesituationandpotentialoverlapsbetween PayPalandtheinvesteecompanyareacceptable,theCompanymayapprovethetransaction,conditioneduponthe director agreeingto certain limitations. Such limitations may include refraining from joining the board of directors of, serving asanadvisortoorbeingdirectlyinvolvedinthebusinessoftheinvesteecompany;notconveyinganyconfidentialor proprietaryinformationregardingtheinvesteecompanytotheCompanyorregardingtheCompanyslineofbusinesswith whichtheinvesteecompetestotheinvesteecompany;abstainingfrombeingtheprimarydecision-makerforthe investmentfundwithrespecttotheinvesteecompany;recusingthemselvesfromportionsofinvesteecompanymeetings that cover confidential competitiveinformationreasonablypertinentto the Companyslinesof businesswithwhichthe investeecompanycompetes;andagreeingtoanyadditionallimitationstheCEOorGeneralCounseldeemsreasonably necessaryorappropriateascircumstanceschange.Alltransactionsbyinvestmentfundsinwhichanon-employeedirector is a control person also remain subject in all respects to the Boards written policy for the review of related person transactions,discussedabove. TheARCCommitteecharterrequiresittoreviewandapproveallrelatedpersontransactionsthatarerequiredtobe disclosedunderItem404(a)ofRegulationS-K.Therewerenotransactionsrequiredtobereportedinthisproxystatement sincethebeginningoffiscalyear2022,whereourwrittenrelated-persontransactionpolicydidnotrequirereview,approval or ratification or where this policy was not followed. 34 •2023ProxyStatement