PROPOSAL1:ELECTIONOFDIRECTORS PROPOSAL1: Electionof Directors Baseduponareviewoftheirskills,qualifications,expertiseandcharacteristics,theBoardhasnominatedallourcurrent directorsfor election at the Annual Meeting, to serve until our 2024 Annual Meeting of Stockholdersand until their successorsareelectedandqualified.EachdirectornomineeisindependentexceptMr.Schulman,ourPresidentandCEO. Eachofourcurrentdirectorshasbeenpreviouslyelectedbyourstockholders.Weexpectthateachdirectornomineewill beabletoserveifelected.IfanydirectornomineeisunableorunwillingtoserveatthetimeoftheAnnualMeeting,the current Boardmayidentifyasubstitutenomineetofillthevacancy,reducethesizeoftheBoardorleaveavacancytofillat alater date. Directorsmustbeelectedbyamajorityofthevotescastinuncontestedelections,whichhasbeenourvotingstandard sincewebecameanindependentpubliccompanyinJuly2015.Thismeansthatthenumberofvotescast“FOR”adirector nomineemustexceedthenumberofvotescast“AGAINST”thatnominee.(Formoreinformation,see“FrequentlyAsked Questions–VotingInformation”onpage109ofthisproxystatement.)Eachdirectorhassubmittedanadvance,contingent, irrevocableresignationthat the Boardmayacceptif stockholdersdonotre-electthatdirector.Afterthecertificationof any suchstockholdervote,theGovernanceCommitteeoracommitteecomposedsolelyofindependentdirectorsthatdoes notincludethedirectorwhowasnotre-electedwilldeterminewhethertoacceptthedirectorsresignation.Wewillpublicly discloseanysuchdecisionandtherationalebehindit. DirectorNominees TheGovernanceCommitteeisresponsibleforrecommendingtotheBoardthequalificationsforBoardmembershipand for identifying, assessing and recommendingqualifieddirectorcandidatesfor the Boardsconsideration.The Boards membershipqualificationsandnominationproceduresaresetforthintheGovernanceGuidelinesfortheBoardofDirectors (“GovernanceGuidelines”).Nomineesmaybesuggestedbydirectors,management,stockholdersorbyathird-partyfirm. TheGovernanceCommitteeandtheBoardhaveevaluatedeachofthedirectornomineesandconcludedthatitisinthe bestinterestsof the Companyanditsstockholdersforeachoftheseindividualstocontinuetoserveasadirector.The Boardbelievesthateachdirectornomineehasastrongtrackrecordofbeingaresponsiblestewardofstockholders interests and brings extraordinarilyvaluable insight, perspectiveand expertiseto the Board. ToensurethattheBoardcontinuestoevolveandberefreshedinamannerthatservesthechangingbusinessandstrategic needsoftheCompany,theGovernanceCommitteeannuallyreviewswiththeBoardtheapplicableskills,qualifications, expertiseandcharacteristicsof BoardnomineesinthecontextofthecurrentBoardcompositionandCompany circumstances.TheGovernanceCommitteeevaluateswhethereachdirectordemonstratesseveralkeyattributesand providessignificantandmeaningfulcontributionstotheBoard.Thesefactorsinclude: • Highly relevant professionalexperiencein payments,financialservices,financialtechnology(“FinTech”),technology, innovation,global business,businessdevelopment,strategy,legal,regulatory,government,cybersecurity,information security, finance, accounting, consumer,sales, marketing,brand management,talent(humancapital)management and/orESGmatters; • Relevantseniorleadership/CEOexperience; • Experienceandexpertisethatcomplementtheskillsetsoftheotherdirectornominees; • HighdegreeofcharacterandintegrityandabilitytocontributetostrongBoarddynamics; • Highly engagedandabletocommitthetimeandresourcesneededtoprovideactiveoversightofPayPalandits management; • Soundbusinessjudgment;and • Commitmenttoenhancingstockholdervalue. In addressingtheoverallcompositionoftheBoard,theGovernanceCommitteeconsidershoweachdirectorcontributesto theBoardsdiversityin termsof gender,sexualorientation,race,ethnicity,nationality,cultural backgroundand age, in additionto the skills, qualifications and expertise that they bring to the Board. 12 •2023ProxyStatement