X0306 4 2017-09-01 0 0001327567 Palo Alto Networks Inc PANW 0001309507 MCLAUGHLIN MARK D C/O PALO ALTO NETWORKS INC. 3000 TANNERY WAY SANTA CLARA CA 95054 1 1 0 0 Chief Executive Officer Common Stock 2017-09-01 4 F 0 26090 146.67 D 282774 D Common Stock 125000 I See footnote Common Stock 75000 I See footnote This transaction is not a sale of shares by the Reporting Person. Instead, this represents shares that have been withheld by the Issuer to satisfy its income tax and withholding and remittance obligations in connection with the vesting and net settlement of previously reported restricted stock units (RSUs). Reflects the Reporting Person's contributions of shares to The Mark D. McLaughlin 2017 Annuity Trust ("McLaughlin GRAT I") and The Mark D. McLaughlin 2017 Annuity Trust II ("McLaughlin GRAT II"). Shares are held by the McLaughlin GRAT I, for which the Reporting Person serves as a trustee. Shares are held by the McLaughlin GRAT II, for which the Reporting Person serves as a trustee. /s/ Jeff True, Attorney-in-Fact for Mark D. McLaughlin 2017-09-06