Palo Alto Networks Extends Leases for Key Properties

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announced the extension of leases for three properties located at Tannery Way, Santa Clara, California. The extensions, which are part of lease amendments, will extend the term of the leases by twelve years, starting from August 1, 2028, and ending on July 31, 2040. The base rent will be abated for the first twelve months of the extended term and will then be payable at $3.825 per rentable square foot per month, with 2% annual increases. The Company also has the option to further extend the leases for two additional periods of six years each. The amendments require the landlords to provide tenant improvement allowances for certain construction improvements. These lease extensions create a direct financial obligation for the Company.

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About Palo Alto Networks, Inc.

Palo Alto Networks, Inc. is a leading cybersecurity company that provides advanced security solutions to protect digital enterprises. The company's primary function is to safeguard organizations across various sectors with its innovative, integrated security platforms to combat increasingly sophisticated cyber threats. The offerings of Palo Alto Networks encompass network security, cloud security, endpoint protection, and threat intelligence services, delivering a comprehensive shield against vulnerabilities for businesses globally. With its headquarters in Santa Clara, California, the company plays a pivotal role in the cybersecurity market by helping firms ensure safe and secure digital environments. Palo Alto Networks serves a diverse clientele, including healthcare, finance, government, and technology industries, all reliant on robust security measures to protect sensitive data and maintain operational integrity. Through its forward-looking approach and commitment to innovation, Palo Alto Networks continues to expand its impact, leading the charge in the evolution of digital security infrastructure.