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Form of Proxy

PALO ALTO NETWORKS, INC.

Notes

No. Proposition For Against Abstain
1

Election of Class II Director: John M. Donovan

2

Election of Class II Director: James J. Goetz

3

Election of Class II Director: Helle Thorning-Schmidt

4

To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending July 31, 2026.

5

To approve, on an advisory basis, the compensation of our named executive officers.

6

To approve an amendment to the Palo Alto Networks, Inc. 2021 Equity Incentive Plan.

7

To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding a policy addressing the impact of share repurchases on financial performance metrics.

8

To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding electing each of our directors annually.