Notice of Proposed Sale · 144

Palo Alto Networks, Inc.

PANWNASDAQEQUITYCurrent

Notice of Proposed Sale

Filed Sep 24, 2026Accepted Sep 24, 2026, 7:30 PM EDTFiling CIK 1773301Accession 0001968582-26-001007

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Structured filing — 144

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Notice of proposed sale. The proposed amounts below do not establish that a sale occurred.

Proposed-sale notice

Issuer: Palo Alto Networks, Inc.
Issuer CIK: 0001327567
SEC file number: 001-35594
Phone: 408-753-4000
Person for whose account securities are to be sold: Aparna Bawa
Relationships to issuer: Affiliate
Street: 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Securities proposed for sale

Securities proposed for sale · 1 reported row
Security	Proposed units	Aggregate market value	Units outstanding	Approximate sale date	Exchange	Broker / market maker
Common	750	294,975	818,000,000	09/24/2026	Nasdaq	J.P. Morgan Securities LLC

Broker / market maker — proposed row 1, entry 1

Name: J.P. Morgan Securities LLC
Street: 270 Park Avenue
Street (continued): 10th Floor
City: New York
State / country code: NY
Postal code: 10017

Acquisition of securities to be sold

Acquisition of securities to be sold · 2 reported rows
Security	Acquired	Nature of acquisition	Acquired from	Amount acquired	Gift transaction	Payment date	Nature of payment
Common	09/01/2024	Transfer	Aparna Bawa who acquired the shares via RSU award from the issuer on 09/01/25	107	N	09/01/2024	N/A
Common	03/01/2025	Transfer	Aparna Bawa who acquired the shares via RSU award from the issuer on 09/01/24	643	N	03/01/2025	N/A

Sales reported in the preceding three months

Sales reported in the preceding three months · 7 reported rows
Seller	Security	Sale date	Amount sold	Gross proceeds
Bawa Family Trust	Common	09/15/2026	28	10,561.04
Bawa Family Trust	Common	09/15/2026	472	178,028.96
Bawa Family Trust	Common	09/14/2026	540	201,746.7
Bawa Family Trust	Common	09/14/2026	460	171,858.30
Bawa Family Trust	Common	06/22/2026	345	100,086.54
Bawa Family Trust	Common	06/29/2026	632	201,355.05
Bawa Family Trust	Common	07/01/2026	290	101,115.11

Seller — prior-sale row 1, entry 1

Name: Bawa Family Trust
Street: Care of Palo Alto Networks, Inc.
Street (continued): 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Seller — prior-sale row 2, entry 1

Name: Bawa Family Trust
Street: Care of Palo Alto Networks, Inc.
Street (continued): 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Seller — prior-sale row 3, entry 1

Name: Bawa Family Trust
Street: Care of Palo Alto Networks, Inc.
Street (continued): 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Seller — prior-sale row 4, entry 1

Name: Bawa Family Trust
Street: Care of Palo Alto Networks, Inc.
Street (continued): 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Seller — prior-sale row 5, entry 1

Name: Bawa Family Trust
Street: Care of Palo Alto Networks, Inc.
Street (continued): 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Seller — prior-sale row 6, entry 1

Name: Bawa Family Trust
Street: Care of Palo Alto Networks, Inc.
Street (continued): 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Seller — prior-sale row 7, entry 1

Name: Bawa Family Trust
Street: Care of Palo Alto Networks, Inc.
Street (continued): 3000 Tannery Way
City: Santa Clara
State / country code: CA
Postal code: 95054

Prior-sale reporting

Nothing to report for the preceding three months: N

Remarks

The shares represented on this filing are being sold by The Bawa Family Trust, Aparna Bawa as Trustee.

Notice signature

Notice date: 09/24/2026
Signed: /s/ J.P. Morgan Securities LLC as agent and attorney-in-fact for Aparna Bawa

Company context

Palo Alto Networks (NASDAQ: PANW), the global AI cybersecurity leader, protects our digital way of life with a comprehensive portfolio of cybersecurity solutions and platforms across Network, Cloud, Security Operations, AI and Identity. Trusted by 70,000+ customers and powered by Unit 42 threat intelligence, our AI-driven platforms eliminate complexity, empowering enterprises to modernize with confidence and securing the speed of innovation. Explore the future of security at www.paloaltonetworks.com.

Current securities

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