X0306 4 2022-03-17 0 0001327567 Palo Alto Networks Inc PANW 0001468233 Arora Nikesh C/O PALO ALTO NETWORKS INC. 3000 TANNERY WAY SANTA CLARA CA 95054 1 1 0 0 Chief Executive Officer Common Stock 2022-03-17 4 S 0 400 545.362 D 530144 D Common Stock 2022-03-17 4 S 0 500 547.044 D 529644 D Common Stock 2022-03-17 4 S 0 900 548.819 D 528744 D Common Stock 2022-03-17 4 S 0 3136 549.619 D 525608 D Common Stock 2022-03-17 4 S 0 2712 550.431 D 522896 D Common Stock 2022-03-17 4 S 0 2919 551.639 D 519977 D Common Stock 2022-03-17 4 S 0 5195 552.45 D 514782 D Common Stock 2022-03-17 4 S 0 1586 553.51 D 513196 D Common Stock 2022-03-17 4 S 0 1042 554.49 D 512154 D Common Stock 2022-03-17 4 S 0 2761 555.869 D 509393 D Common Stock 2022-03-17 4 S 0 3299 556.60 D 506094 D Common Stock 2022-03-17 4 S 0 800 557.738 D 505294 D Common Stock 2022-03-18 4 S 0 6028 575.353 D 499266 D Common Stock 2022-03-18 4 S 0 222 576.151 D 499044 D Common Stock 2022-03-18 4 F 0 2964 564.16 D 496080 D Common Stock 5335 I See footnote The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. This sale price represents the weighted average sale price of the shares sold ranging from $545.04 to $545.98 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $546.87 to $547.85 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $548.02 to $548.99 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $549.02 to $550.01 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $550.03 to $551.015 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $551.05 to $552.03 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $552.05 to $553.005 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $553.07 to $554.02 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $554.08 to $555.00 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $555.22 to $556.21 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $556.22 to $557.08 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $557.24 to $558.22 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $575.15 to $576.09 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. This sale price represents the weighted average sale price of the shares sold ranging from $576.09 to $576.19 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4. 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 restricted stock units. Shares are held by Bacchey Investments L.P., of which Bacchey Management LLC (the "LLC") is the General Partner. The Reporting Person is the manager of the LLC. The sole member of the LLC is the Aurora Trust, for which the Reporting Person serves as a trustee. /s/ Elizabeth Villalobos, Attorney-in-Fact for Nikesh Arora 2022-03-18