EX-10.1





 Exhibit 10.1 

Execution Version 

Twitter, Inc. 
 3.875%
Senior Notes Due 2027 
 Purchase Agreement 

December 5, 2019 
 J.P. Morgan Securities LLC

 As representative of the several Purchasers 

named in Schedule I hereto, 
 c/o J.P. Morgan
Securities LLC 
 383 Madison Avenue 
 New York, New York 10179

 Ladies and Gentlemen: 
 Twitter, Inc., a
Delaware corporation (the “Company”), proposes, subject to the terms and conditions set forth in this agreement (this “Agreement”), to issue and sell to the Purchasers named in Schedule I hereto (the
“Purchasers”), for whom you are acting as representative (the “Representative”), an aggregate of $700,000,000 principal amount of its 3.875% Senior Notes due 2027 (the “Securities”). 

1. The Company represents and warrants to, and agrees with, each of the Purchasers that: 

(a) A preliminary offering memorandum, dated December 2, 2019 (the “Preliminary Offering Memorandum”),
and an offering memorandum, dated December 5, 2019 (the “Offering Memorandum”), have been prepared in connection with the offering of the Securities. The Preliminary Offering Memorandum, as amended and supplemented
immediately prior to the Applicable Time (as defined in Section 1(b)), is hereinafter referred to as the “Pricing Memorandum.” Any reference to the Preliminary Offering Memorandum, the Pricing Memorandum or the Offering
Memorandum shall be deemed to refer to and include all documents filed with the United States Securities and Exchange Commission (the “Commission”) pursuant to Section 13(a), 13(c) or 15(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), on or prior to the date of such memorandum and incorporated by reference therein and any reference to the Preliminary Offering Memorandum or the Offering Memorandum, as the case may be, as
amended or supplemented, as of any specified date, shall be deemed to include (i) any documents filed with the Commission pursuant to Section 13(a), 13(c) or 15(d) of the Exchange Act after the date of the Preliminary Offering Memorandum
or the Offering Memorandum, as the case may be, and prior to such specified date and (ii) any Additional Issuer Information (as defined in Section 5(f)) furnished by the Company prior to the completion of the distribution of the
Securities; and all documents filed under the Exchange Act and so deemed to be included in the Preliminary Offering Memorandum, the Pricing Memorandum or the Offering Memorandum, as the case may be, or any amendment or supplement thereto are
hereinafter called the “Exchange Act Reports” (provided that where only sections of such documents are specifically incorporated by reference, only such sections shall be considered to be part of the Exchange Act Reports).
The Exchange Act Reports, when they were or are filed with the Commission, conformed or will conform in all material respects to the applicable requirements of the Exchange Act and the applicable rules and regulations of the Commission thereunder;
and no such documents were filed with the Commission since the Commission’s close of business on the business day immediately prior to the date of this Agreement and prior to the execution of this Agreement, except as set forth on Schedule
II(a) hereof. The Preliminary Offering Memorandum and the Offering Memorandum and any amendments or supplements thereto did not and will not, as of their respective dates, contain an untrue statement of a material fact or omit to state a material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements or
omissions made in reliance upon and in conformity with information furnished in writing to the Company by a Purchaser through the Representative expressly for use therein; 












 (b) For the purposes of this Agreement, the “Applicable
Time” is 3:25 p.m. (Eastern time) on the date of this Agreement; the Pricing Memorandum as supplemented by the information set forth in Schedule III hereto, taken together (collectively, the “Pricing Disclosure
Package”) as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading; and each Company Supplemental Disclosure Document (as defined in Section 6(a)(i)) listed on Schedule II(b) hereto does not conflict with the information contained in the Pricing Memorandum or the Offering Memorandum and each
such Company Supplemental Disclosure Document, as supplemented by and taken together with the Pricing Disclosure Package as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to statements or omissions made in a
Company Supplemental Disclosure Document in reliance upon and in conformity with information furnished in writing to the Company by a Purchaser through the Representative expressly for use therein; 

(c) Neither the Company nor any of its subsidiaries has sustained since the date of the latest audited financial statements
included in the Pricing Memorandum any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree,
other than as set forth or contemplated in the Pricing Memorandum; and, since the respective dates as of which information is given in the Pricing Memorandum, there has not been any change in the capital stock (other than as a result of the exercise
of stock options, the vesting of restricted stock units or the granting of stock options or restricted stock units in the ordinary course of business pursuant to the Company’s stock plans that are described in the Pricing Memorandum or the
repurchase of shares of Stock which were issued pursuant to the early exercise of stock options by option holders or pursuant to agreements in connection with which the Company acquired businesses or assets from third parties and are subject to
repurchase by the Company) or long-term debt of the Company or any of its subsidiaries or any material adverse change, or any development involving a prospective material adverse change, in or affecting the general affairs, management, financial
position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole, other than, in each case, as set forth or contemplated in the Pricing Memorandum; 

(d) The Company and its subsidiaries do not own any real property. The Company and its subsidiaries have good and marketable
title to all personal property owned by them (other than with respect to Intellectual Property which is addressed exclusively in subsection (aa)), in each case free and clear of all liens, encumbrances and defects except such as are described in the
Pricing Memorandum or such as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and its subsidiaries; and any real property and buildings
held under lease by the Company and its subsidiaries are held by them, to the Company’s knowledge, under valid, subsisting and enforceable leases (subject to the effects of (A) bankruptcy, insolvency, fraudulent conveyance, fraudulent
transfer, reorganization, moratorium or other similar laws relating to or affecting rights or remedies of creditors generally; (B) the application of general principles of equity (including without limitation, concepts of materiality,
reasonableness, good faith and fair dealing, regardless of whether enforcement is considered in proceedings at law or in equity); and (C) applicable law and public policy with respect to rights to indemnity and contribution (collectively, the
“Enforceability Exceptions”)) with such exceptions as are not material and do not materially interfere with the use made and proposed to be made of such property and buildings by the Company and its subsidiaries; 

(e) The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the
State of Delaware, with power and authority (corporate and other) to own its properties and conduct its business as described in the Pricing Memorandum, and has been duly qualified as a foreign corporation for the transaction of business and is in
good standing under the laws of each other 

  
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jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, except where the failure to be so qualified or be in good standing would not
individually or in the aggregate have a material adverse effect on the financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole (a “Material Adverse Effect”); and
each “significant subsidiary” of the Company (each, a “Significant Subsidiary”), as defined in Rule 1-02(w) of
Regulation S-X under the Securities Act of 1933, as amended (the “Act”), has been duly incorporated and is validly existing as a corporation or other organization in good standing
under the laws of its jurisdiction of incorporation or organization, to the extent that the concept of “good standing” is applicable under the laws of such jurisdiction, except where the failure to be so qualified or to be in good standing
would not, individually or in the aggregate, have a Material Adverse Effect; 
 (f) The Company has the capitalization as set
forth in the Pricing Disclosure Package and the Offering Memorandum, and all of the issued shares of capital stock of the Company have been duly authorized and validly issued and
are non-assessable; and all of the issued shares of capital stock or other ownership interests of each Significant Subsidiary of the Company have been duly authorized and validly issued, are fully
paid and non-assessable and (except for directors’ qualifying shares) are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims except for
such liens, encumbrances, equities or claims that would not reasonably be expected to have a Material Adverse Effect; 
 (g)
The Securities have been duly authorized by the Company and, when executed, authenticated, issued and delivered in accordance with the indenture relating to the Securities to be dated as of December 9, 2019 (the “Indenture”)
between the Company and U.S. Bank National Association, as Trustee (the “Trustee”), under which they are to be issued, and delivered and paid for pursuant to this Agreement, will constitute valid and legally binding obligations of
the Company entitled to the benefits provided by the Indenture, subject to the Enforceability Exceptions; 
 (h) The
Indenture has been duly authorized by the Company and, when executed and delivered by the Company and the Trustee, such Indenture will constitute a valid and legally binding instrument, enforceable against the Company in accordance with its terms,
subject to the Enforceability Exceptions; and the Securities and the Indenture will conform in all material respects to the descriptions thereof in the Pricing Disclosure Package and the Offering Memorandum; 

(i) Prior to the date hereof, the Company, has not and to its knowledge none of its affiliates acting on its behalf, has taken
any action which is designed to or which has constituted or which would reasonably have been expected to cause or result in stabilization or manipulation of the price of the Securities; 

(j) The issue and sale of the Securities and the compliance by the Company with all of the provisions of the Securities, the
Indenture and this Agreement and the consummation of the transactions herein and therein contemplated will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, (A) any
indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or
assets of the Company or any of its subsidiaries is subject, (B) the Certificate of Incorporation, Bylaws or similar organizational documents of the Company or any of its Significant Subsidiaries, or (C) any statute or any order, rule or
regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties, except, in the case of (A) and (C), for such violations that would not individually or in the
aggregate have a Material Adverse Effect; and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the issue and sale of the Securities or the consummation
by the Company of the transactions contemplated by this Agreement or the Indenture, except for such consents, approvals, authorizations, orders, registrations or qualifications as may be required under state securities or Blue Sky laws in connection
with the purchase and distribution of the Securities by the Purchasers; 
 (k) Neither the Company nor any of its Significant
Subsidiaries is (A) in violation of its Certificate of Incorporation, Bylaws or similar organizational documents or (B) in default in the performance or observance of any material obligation, agreement, covenant or condition contained in
any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound, except in the case of (B) for such defaults as would not, individually
or in the aggregate have a Material Adverse Effect; 

  
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 (l) The statements set forth in the Pricing Memorandum and the Offering
Memorandum under the caption “Description of Notes”, insofar as they purport to constitute a summary of the terms of the Securities, and under the caption, “Certain U.S. Federal Income Tax Considerations,” insofar as they purport
to describe the provisions of the laws and documents referred to therein, fairly and accurately summarize the matters set forth therein in all material respects; 

(m) Other than as set forth in the Pricing Memorandum, there are no legal or governmental proceedings pending to which the
Company or any of its subsidiaries is a party or, to the Company’s knowledge, of which any property or assets of the Company or any of its subsidiaries is the subject which would reasonably be expected to, individually or in the aggregate, have
a Material Adverse Effect; and, to the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others; 

(n) When the Securities are issued and delivered pursuant to this Agreement, the Securities will not be of the same class
(within the meaning of Rule 144A under the Act (“Rule 144A”)) as securities which are listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in a U.S. automated inter-dealer quotation
system, and will be eligible for resale under Rule 144A; 
 (o) The Company is subject to Section 13 or 15(d) of the
Exchange Act; 
 (p) The Company is not, and after giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described in the Pricing Disclosure Package, will not be, required to register as an “investment company,” as such term is defined in the United States Investment Company Act of 1940, as amended (the
“Investment Company Act”); 
 (q) The Company has all requisite corporate power to execute, deliver and
perform its obligations under this Agreement. This Agreement has been duly authorized, executed and delivered by the Company; 

(r) Neither the Company nor any person acting on its behalf (other than the Purchasers, as to which no representation is made)
has offered or sold the Securities by means of any general solicitation or general advertising within the meaning of Rule 502(c) under the Act or, with respect to Securities sold outside the United States to
non-U.S. persons (as defined in Rule 902 under the Act), by means of any directed selling efforts within the meaning of Rule 902 under the Act and the Company, any affiliate of the Company and any person
acting on its or their behalf (other than the Purchasers, as to which no representation is made) has complied with the “offering restrictions” within the meaning of such Rule 902; 

(s) Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) has, directly or through any
agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require registration
of the Securities under the Securities Act; 
 (t) PricewaterhouseCoopers LLP, who have certified certain financial
statements of the Company and its subsidiaries, are an independent registered public accounting firm as required by the Act and the rules and regulations of the Commission thereunder; 

(u) The Company maintains a system of internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that is designed to comply with the requirements of the Exchange Act and has been designed by the Company’s principal executive officer and principal financial
officer, or under their supervision, to provide reasonable assurance regarding the reliability of 

  
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financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles as applied in the United States (“U.S.
GAAP”) and to provide reasonable assurance that interactive data in eXtensible Business Reporting Language included or incorporated by reference in each of the Pricing Memorandum, the Pricing Disclosure Package and the Offering Memorandum
is prepared in accordance with the Commission’s rules and guidelines applicable thereto. The Company’s internal control over financial reporting is effective and the Company is not aware of any material weaknesses in its internal control
over financial reporting; 
 (v) Since the date of the latest audited financial statements included or incorporated by
reference in the Pricing Memorandum, there has been no change in the Company’s internal control over financial reporting that has materially and adversely affected, or is reasonably likely to materially and adversely affect, the Company’s
internal control over financial reporting; 
 (w) The Company maintains disclosure controls and procedures (as such term is
defined in Rule 13a-15(e) under the Exchange Act) that are designed to comply with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that
material information relating to the Company and its subsidiaries is made known to the Company’s principal executive officer and principal financial officer by others within those entities; and such disclosure controls and procedures are
effective; 
 (x) The financial statements of the Company, together with the related schedules and notes, included in each of
the Pricing Disclosure Package and the Offering Memorandum present fairly in all material respects the financial position of the Company as of the dates indicated and the results of its operations and cash flows for the periods specified. Such
financial statements have been prepared in all material respects in conformity with U.S. GAAP applied on a consistent basis throughout the periods involved. The interactive data in eXtensible Business Reporting Language included or incorporated by
reference in each of the Pricing Disclosure Package and the Offering Memorandum fairly presents the information called for in all material respects and is prepared in all material respects in accordance with the Commission’s rules and
guidelines applicable thereto; 
 (y) The Company and its subsidiaries own, possess or can obtain on reasonable terms
sufficient rights to use all patents, patent rights, licenses, inventions, copyrights, know how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service
marks, trade names and other intellectual property (collectively, “Intellectual Property”) used in, held for use in or necessary for the conduct of the business now operated by them, except where the failure to own or possess any of
the foregoing would not reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its subsidiaries has received any written notice or claim alleging any infringement, misappropriation, violation of or conflict with any
such rights of others, except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by any party challenging the validity, scope, enforceability or ownership of any Intellectual Property owned by the Company or its
subsidiaries, and all Intellectual Property owned by the Company or its subsidiaries is owned solely by the Company or its subsidiaries, is valid and enforceable, and is owned free and clear of all liens, encumbrances, defects or other restrictions.
The Company and its subsidiaries have taken reasonable steps in accordance with normal industry practice to maintain the confidentiality of all material trade secrets and confidential information owned, used or held for use by the Company or any of
its subsidiaries that the Company in its reasonable business judgment wishes to maintain as trade secrets; 
 (z) The Company
and its subsidiaries have complied and are in compliance in all material respects with their respective privacy policies and other contractual or legal obligations regarding the collection, processing, use, transfer, storage, protection, disposal
and disclosure by the Company and its subsidiaries of personal and/or user data or information gathered or accessed in the course of their respective operations, and with respect to all such data or information, the Company and its subsidiaries have
taken the steps reasonably necessary to protect such information against loss and against unauthorized access, 

  
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use, modification, disclosure or other misuse, and, other than as set forth in the Pricing Memorandum, to the knowledge of the Company, there has been no privacy or data security breach, incident
or other unauthorized access to or other misuse of such data or information that would individually or in the aggregate reasonably be expected to have a Material Adverse Effect; 

(aa) Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of
1974, as amended (“ERISA”), for which the Company or any member of its “Controlled Group” (defined as any organization which is a member of a controlled group of corporations within the meaning of
Section 414 of the Internal Revenue Code of 1986, as amended (the “Code”)) would have any liability has been maintained in compliance with its terms and the requirements of any applicable statutes, orders, rules and
regulations, including but not limited to, ERISA and the Code, except for such noncompliance, as would not, individually or in the aggregate have a Material Adverse Effect; 

(bb) The Company and its Significant Subsidiaries possess all licenses, permits, certificates and other authorizations from,
and have made all declarations and filings with, all governmental authorities, required or necessary to own or lease, as the case may be, and to operate their respective properties and to carry on their respective businesses as now or proposed to be
conducted as set forth in the Pricing Memorandum (“Permits”), except where the failure to obtain such Permits would not individually or in the aggregate have a Material Adverse Effect; the Company and its Significant Subsidiaries have
fulfilled and performed all of their respective obligations with respect to such Permits and no event has occurred which allows, or after notice or lapse of time would allow, revocation or termination thereof or results in any other impairment of
the rights of the holder of any such Permit except, in each case, as would not individually or in the aggregate have a Material Adverse Effect; 

(cc) Except as described in or incorporated by reference into the Pricing Memorandum, there are no contracts, agreements or
understandings between the Company or any subsidiary and any person granting such person the right to require the Company or any subsidiary to file a registration statement under the Act with respect to any securities of the Company or any
subsidiary; 
 (dd) The Company and each of its subsidiaries have filed all U.S. federal, state, local and foreign tax
returns required to be filed through the date of this Agreement or have requested extensions thereof (except where the failure to file would not, individually or in the aggregate, have a Material Adverse Effect) and have paid all taxes required to
be paid thereon (except for cases in which the failure to file or pay would not, individually or in the aggregate, have a Material Adverse Effect, or, except as currently being contested in good faith and for which reserves required by U.S. GAAP
have been created in the financial statements of the Company), and no unpaid tax deficiency has been determined adversely to the Company or any of its subsidiaries which has had a Material Adverse Effect; neither the Company nor any of its
subsidiaries have notice or knowledge of any unpaid tax deficiency which is reasonably expected to be determined adversely to the Company or its subsidiaries and would reasonably be expected to have a Material Adverse Effect; 

(ee) The Company and its subsidiaries (i) are in compliance with any and all applicable foreign, federal, state and local
laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances, wastes or materials, pollutants or contaminants (“Environmental Laws”), (ii) have received all permits,
licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses and (iii) are in compliance with all terms and conditions of any such permit, license or approval, except where such non-compliance with Environmental Laws, failure to receive required permits, licenses or other approvals or failure to comply with the terms and conditions of such permits, licenses or approvals would
not individually or in the aggregate have a Material Adverse Effect; 
 (ff) There are no costs or liabilities associated
with Environmental Laws (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or any permit, license
or approval, any related constraints on operating activities and any potential liabilities to third parties) which would individually or in the aggregate have a Material Adverse Effect; 

  
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 (gg) The Company and its Significant Subsidiaries taken as a whole are
insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as the Company believes are prudent and customary in the businesses in which they are engaged; 

(hh) Neither the Company nor any of its subsidiaries, nor any director or executive officer thereof, nor, to the Company’s
knowledge, any affiliate of the Company or any of its subsidiaries or any employee, agent or representative of the Company or of any of its subsidiaries or affiliates, has taken any action in furtherance of an offer, payment, promise to pay, or
authorization or approval of the payment or giving of money, property, gifts or anything else of value, directly or indirectly, to any “government official” (including any officer or employee of a government or government-owned or
controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) to corruptly influence
official action or secure an improper advantage for the Company; and the Company and its subsidiaries have conducted their businesses in compliance in all material respects with applicable anti-corruption laws, including the Foreign Corrupt
Practices Act of 1977, as amended, and have instituted and maintain policies and procedures designed to promote and achieve compliance with such laws in all material respects; 

(ii) The operations of the Company and its subsidiaries are conducted in material compliance with all applicable financial
recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT
Act), and the applicable anti-money laundering statutes of jurisdictions where the Company and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered
or enforced by any governmental agency (collectively, the “Anti-Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company
or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened; and 

(jj) (A) Neither the Company nor any of its subsidiaries, nor any director or executive officer thereof, nor, to the
Company’s knowledge, any employee, agent, affiliate or representative of the Company or any of its subsidiaries, is an individual or entity (“Person”) that is, or is owned or controlled by a Person that is: 

(1) the subject of any sanctions administered or enforced by the Office of Foreign Assets Control (“OFAC”),
the United Nations Security Council, the European Union, any European Union member state, or Her Majesty’s Treasury (collectively, “Sanctions”), nor 

(2) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation,
Cuba, Crimea, Iran, North Korea and Syria); 
 (B) The Company will not, directly or indirectly, knowingly use the proceeds
of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: 

(1) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of
such funding or facilitation, is the subject of Sanctions; or 
 (2) in any other manner that will result in a violation of
Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise); and 

(C) For the past 5 years, the Company and its subsidiaries have not knowingly engaged in, are not now knowingly engaged in and
will not knowingly engage in any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions. 

  
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 2. Subject to the terms and conditions herein set forth, the Company agrees to issue and
sell to each of the Purchasers, and each of the Purchasers agrees, severally and not jointly, to purchase from the Company, at a purchase price of 99.10% of the principal amount of the Securities (the “Purchase Price”), plus accrued
interest, if any, from December 9, 2019 to the Time of Delivery (as defined in Section 4 hereof), the principal amount of Securities set forth opposite the name of such Purchaser in Schedule I hereto. 

3. Upon the authorization by you of the release of the Securities, the several Purchasers propose to offer the Securities for sale upon the
terms and conditions set forth in this Agreement and the Offering Memorandum and each Purchaser, acting severally and not jointly, hereby represents and warrants to, and agrees with the Company that: 

(a) it will sell the Securities only (i) to persons who it reasonably believes are “qualified institutional
buyers” (“QIBs”) within the meaning of Rule 144A under the Act in transactions meeting the requirements of Rule 144A or (ii) upon the terms and conditions set forth in Annex B to this Agreement; 

(b) It is a QIB within the meaning of Rule 144A under the Act or an Institutional Accredited Investor, within the meaning of
Rule 501(a) under the Act; and 
 (c) Neither it nor any of its affiliates or any other person acting on its or their behalf
will solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of
Section 4(a)(2) of the Act. 
 4. (a) The Securities to be purchased by each Purchaser hereunder will be represented by definitive
global Securities in book-entry form which will be deposited by or on behalf of the Company with The Depository Trust Company (“DTC”) or its designated custodian. The Company will deliver the Securities to the Representative, for
the account of each Purchaser, against payment by or on behalf of such Purchaser of the purchase price therefor by wire transfer of Federal (same day) funds, by causing DTC to credit the Securities to the account of J.P. Morgan Securities LLC at
DTC. The Company will cause the certificates representing the Securities to be made available to the Representative for checking at least twenty-four hours prior to the Time of Delivery (as defined below) at the office of Cahill Gordon &
Reindel LLP, 80 Pine Street, New York, New York 10005 (the “Closing Location”). The time and date of such delivery and payment shall be 9:30 a.m., New York City time, on December 9, 2019 or such other time and date as the
Representative and the Company may agree upon in writing; provided, however, that such delivery date must be at least two New York Business Days (as defined below) after such written notice is given and may not be earlier than the Time
of Delivery (as defined below) nor later than ten New York Business Days (as defined below) after the date of such notice. Such time and date for delivery of the Securities are herein called the “Time of Delivery.” 

(b) The documents to be delivered at the Time of Delivery by or on behalf of the parties hereto pursuant to Section 8 hereof, including
the cross-receipt for the Securities and any additional documents requested by the Purchasers pursuant to Section 8(j) hereof, will be delivered at such time and date at the Closing Location, and the Securities will be delivered at the office
of DTC (or its designated custodian), all at the Time of Delivery. A meeting will be held at the Closing Location at 5:00 p.m., New York City time, on the New York Business Day next preceding the Time of Delivery, at which meeting the final drafts
of the documents to be delivered pursuant to the preceding sentence will be available for review by the parties hereto. For the purposes of this Section 4, “New York Business Day” shall mean each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in New York are generally authorized or obligated by law or executive order to close. 

5. The Company agrees with each of the Purchasers: 

(a) To prepare the Offering Memorandum in a form approved by you; to make no amendment or any supplement to the Offering
Memorandum which shall be disapproved by you promptly after reasonable notice thereof; and to furnish you with copies thereof; 

  
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 (b) Promptly from time to time to take such action as you may reasonably
request to qualify the Securities for offering and sale under the securities laws of such jurisdictions as you may reasonably request and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions
for as long as may be necessary to complete the distribution of the Securities, provided that in connection therewith the Company shall not be required to qualify as a foreign corporation or to file a general consent to service of process in
any jurisdiction or subject itself to taxation in such jurisdiction in which it was not otherwise subject to taxation as a foreign corporation; 

(c) To furnish the Purchasers with written and electronic copies of the Offering Memorandum and any amendment or supplement
thereto in such quantities as you may from time to time reasonably request, and if, at any time prior to the expiration of nine months after the date of the Offering Memorandum, any event shall have occurred as a result of which the Offering
Memorandum as then amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when
such Offering Memorandum is delivered, not misleading, or, if for any other reason it shall be necessary during such same period to amend or supplement the Offering Memorandum, to notify you and upon your request to prepare and furnish without
charge to each Purchaser and to any dealer in securities (whose name and address the Purchasers shall furnish to the Company) as many written and electronic copies as you may from time to time reasonably request of an amended Offering Memorandum or
a supplement to the Offering Memorandum which will correct such statement or omission or effect such compliance; 
 (d)
During the period beginning from the date hereof and continuing until the date that is 60 days after the date of the Offering Memorandum, not to offer, issue, sell, contract to sell or otherwise transfer or dispose of any debt securities having a
tenor of more than one year;
 (e) Not to be or become, at any time prior to the expiration of two years after the Time of
Delivery, an open-end investment company, unit investment trust, closed-end investment company or face-amount certificate company that is or is required to be registered
under Section 8 of the Investment Company Act; 
 (f) At any time when the Company is not subject to Section 13 or
15(d) of the Exchange Act, for the benefit of holders from time to time of Securities, to furnish at its expense, upon request, to holders of Securities and prospective purchasers of Securities designated by such holders, information (the
“Additional Issuer Information”) satisfying the requirements of subsection (d)(4)(i) of Rule 144A under the Act; 

(g) To furnish to the holders of the Securities as soon as practicable after the end of each fiscal year an annual report
(including a balance sheet and statements of income, stockholders’ equity and cash flows of the Company and its consolidated subsidiaries certified by independent public accountants) and, as soon as practicable after the end of each of the
first three quarters of each fiscal year (beginning with the fiscal quarter ending after the date of the Offering Memorandum), to make available to its stockholders consolidated summary financial information of the Company and its subsidiaries for
such quarter in reasonable detail; provided that the Company may satisfy the requirements of this subsection (g) by electronically filing such reports or information through EDGAR as long as the Company files all reports required under
Section 13 or 15(d) of the Exchange Act; 
 (h) The Company will not, and will not permit any of its controlled
“affiliates” (as defined in Rule 144 under the Act) to, resell any of the Securities which constitute “restricted securities” under Rule 144 that have been reacquired by any of them (other than pursuant to a registration
statement that has been declared effective under the Act) for a period of one (1) year after the date of issuance of such Securities; 

(i) To use the net proceeds received by the Company from the sale of the Securities pursuant to this Agreement in the manner
specified in the Pricing Memorandum under the caption “Use of Proceeds”; and 

  
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 (j) Neither the Company nor any of its affiliates (as defined in Rule 501(b)
of Regulation D) will, directly or through any agent, sell, offer for sale, solicit offers to buy or otherwise negotiate in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in
a manner that would require registration of the Securities under the Securities Act. 
 6. (a) (i) The Company represents and agrees
that, without the prior consent of the Representative, it and its affiliates and any other person acting on its or their behalf (other than the Purchasers, as to which no statement is given) (x) have not made and will not make any offer
relating to the Securities that, if the offering of the Securities contemplated by this Agreement were conducted as a public offering pursuant to a registration statement filed under the Act with the Commission, would constitute an “issuer free
writing prospectus,” as defined in Rule 433 under the Act (any such offer including any electronic roadshows is hereinafter referred to as a “Company Supplemental Disclosure Document”), (y) have not solicited and will
not solicit offers for, and have not offered or sold and will not offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D and (z) will not engage in any
directed selling efforts within the meaning of Regulation S, and all such persons will comply with the offering restrictions requirement of Regulation S; 

(ii) each Purchaser, severally and not jointly, represents and agrees that, without the prior consent of the Company and the Representative,
other than one or more term sheets relating to the Securities containing customary information and conveyed to purchasers of securities, it has not made and will not make any offer relating to the Securities that, if the offering of the Securities
contemplated by this Agreement were conducted as a public offering pursuant to a registration statement filed under the Act with the Commission, would constitute a “free writing prospectus,” as defined in Rule 405 under the Act required to
be filed under the Act (any such offer (other than any such term sheets), is hereinafter referred to as a “Purchaser Supplemental Disclosure Document”); and 

(iii) any Company Supplemental Disclosure Document or Purchaser Supplemental Disclosure Document, the use of which has been consented to by the
Company and the Representative, is listed as applicable on Schedule II(b) or Schedule II(c) hereto, respectively. 
 7. The Company covenants
and agrees with the several Purchasers that the Company will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company’s counsel and accountants in connection with the issue of the Securities and all
other expenses in connection with the preparation, printing, reproduction and filing of the Preliminary Offering Memorandum and the Offering Memorandum and any amendments and supplements thereto and the mailing and delivering of copies thereof to
the Purchasers and dealers; (ii) the cost of printing or producing any Agreement among Purchasers, this Agreement, the Indenture, the Securities, closing documents (including any compilations thereof)and any other documents in connection with
the offering, purchase, sale and delivery of the Securities; (iii) all expenses in connection with the qualification of the Securities for offering and sale under state securities laws as provided in Section 5(b) hereof, including the
reasonably documented fees and disbursements of one counsel in each jurisdiction for the Purchasers in connection with such qualification and in connection with the Blue Sky and legal investment surveys (such fees not to exceed $10,000); (iv) any
fees charged by securities rating services for rating the Securities; (v) the cost of preparing the Securities; (vi) the fees and expenses of the Trustee and any agent of the Trustee and the fees and disbursements of counsel for the
Trustee in connection with the Indenture and the Securities; (vii) all costs and expenses incurred in connection with any “road show” presentation to potential purchasers of the Securities; (viii) any other costs and expenses
related to the transfer and delivery of the Securities to the Purchasers, including any transfer taxes or other taxes payable thereon; and (ix) all other costs and expenses incident to the performance of its obligations hereunder which are not
otherwise specifically provided for in this Section. It is understood, however, that, except as provided in this Section, and Sections 9 and 12 hereof, the Purchasers will pay all of their own costs and expenses, including the fees of their counsel,
transfer taxes on resale of any of the Securities by them, and any advertising expenses connected with any offers they may make. 

  
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 8. The obligations of the Purchasers hereunder shall be subject, in their discretion, to the
condition that all representations and warranties and other statements of the Company herein are, at and as of the Time of Delivery, true and correct, the condition that the Company shall have performed all of its obligations hereunder theretofore
to be performed, and the following additional conditions: 
 (a) Cahill Gordon & Reindel LLP, counsel for the
Purchasers, shall have furnished to you such written opinion or opinions, dated the Time of Delivery, with respect to such matters as you may reasonably request, in form and substance satisfactory to the Representative, and such counsel shall have
received such papers and information as they may reasonably request to enable them to pass upon such matters; 
 (b) Wilson
Sonsini Goodrich & Rosati, Professional Corporation, counsel for the Company, shall have furnished to you such written opinion or opinions, dated the Time of Delivery, in form and substance reasonably satisfactory to the Representative;

 (c) On the date of this Agreement and also at the Time of Delivery, PricewaterhouseCoopers LLP shall have furnished to you
a letter or letters, dated the respective dates of delivery thereof (the executed copy of the letter delivered on the date of this Agreement is attached as Annex A hereto) and the bring-down letter to be delivered at the Time of Delivery shall be in
form and substance reasonably satisfactory to the Representative; 
 (d) (i) The Company and its subsidiaries, taken as
a whole, shall not have sustained since the date of the latest audited financial statements included in the Pricing Memorandum any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by
insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Pricing Memorandum, and (ii) since the respective dates as of which information is given in the Pricing
Memorandum there shall not have been any change in the capital stock (other than as a result of the exercise of stock options, the vesting of restricted stock units or the granting of stock options or restricted stock units in the ordinary course of
business pursuant to the Company’s stock plans that are described in the Pricing Memorandum or the repurchase of any shares of Stock which were issued pursuant to the early exercise of stock options by option holders or pursuant to agreements
in connection with which the Company acquired businesses or assets from third parties and are subject to repurchase by the Company) or long-term debt of the Company or any of its subsidiaries or any change, or any development involving a prospective
change, in or affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole, otherwise than as set forth or contemplated in the Pricing
Memorandum, the effect of which, in any such case described in clause (i) or (ii), is in your judgment so material and adverse as to make it impracticable or inadvisable to proceed with the offering or the delivery of the Securities being
delivered at the Time of Delivery on the terms and in the manner contemplated in this Agreement and in each of the Pricing Disclosure Package and the Offering Memorandum; 

(e) On or after the Applicable Time and prior to the Time of Delivery (i) no downgrading shall have occurred in the rating
accorded the Company’s debt securities by any “nationally recognized statistical rating organization”, as that term is defined in Section 3(a)(62) of the Exchange Act, and (ii) no such organization shall have publicly
announced that it has under surveillance or review, with possible negative implications, its rating of any of the Company’s debt securities; 

(f) On or after the Applicable Time and prior to the Time of Delivery there shall not have occurred any of the following:
(i) a suspension or material limitation in trading in securities generally on the New York Stock Exchange or Nasdaq Stock Market; (ii) a suspension or material limitation in trading in the Company’s securities on the New York Stock
Exchange; (iii) a general moratorium on commercial banking activities declared by either Federal, New York State or California State authorities or a material disruption in commercial banking or securities settlement or clearance services in
the United States; (iv) the outbreak or escalation of hostilities involving the United States or the declaration by the United States of a national emergency or war or (v) the occurrence of any other calamity or crisis or any change in
financial, political or economic conditions in the United States or elsewhere, if the effect of any such event specified in clause (iv) or (v) in your judgment makes it impracticable or inadvisable to proceed with the offering, sale or the
delivery of the Securities being delivered at the Time of Delivery on the terms and in the manner contemplated in the Pricing Disclosure Package and the Offering Memorandum; 

  
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 (g) The chief financial officer of the Company shall have furnished to you a
certificate, dated as of the Time of Delivery, in form and substance reasonably satisfactory to you; 
 (h) The Purchasers
shall have received an executed copy of the Indenture; 
 (i) The Securities shall be eligible for clearance and settlement
through the facilities of DTC; and 
 (j) The Company shall have furnished or caused to be furnished to you at the Time of
Delivery certificates of officers of the Company reasonably satisfactory to you as to the accuracy of the representations and warranties of the Company herein at and as of the Time of Delivery, as to the performance by the Company of all of its
obligations hereunder to be performed at or prior to the Time of Delivery, as to the matters set forth in subsection (d) of this Section and as to such other matters as you may reasonably request. The officer(s) signing and furnishing such
certificate(s) may rely on his or her knowledge as to proceedings threatened. 
 9. (a) The Company will indemnify and hold harmless each
Purchaser against any losses, claims, damages or liabilities, joint or several, to which such Purchaser may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out
of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Preliminary Offering Memorandum, the Pricing Memorandum, the Pricing Disclosure Package, the Offering Memorandum, or any amendment or supplement
thereto, any Company Supplemental Disclosure Document or arise out of or are based upon the omission or alleged omission to state therein a material fact necessary to make the statements therein not misleading, and will reimburse each Purchaser for
any legal or other expenses reasonably incurred and documented by such Purchaser in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Company shall not be
liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any Preliminary Offering Memorandum, the
Pricing Memorandum, the Pricing Disclosure Package, the Offering Memorandum or any amendment or supplement thereto or any Company Supplemental Disclosure Document, in reliance upon and in conformity with written information furnished to the Company
by any Purchaser through the Representative expressly for use therein. 
 (b) Each Purchaser, severally and not jointly, will indemnify and
hold harmless the Company against any losses, claims, damages or liabilities to which the Company may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon an untrue statement or alleged untrue statement of a material fact contained in any Preliminary Offering Memorandum, the Pricing Memorandum, the Pricing Disclosure Package, the Offering Memorandum, or any amendment or supplement
thereto, or any Company Supplemental Disclosure Document or arise out of or are based upon the omission or alleged omission to state therein a material fact necessary to make the statements therein not misleading, in each case to the extent, but
only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in any Preliminary Offering Memorandum, the Pricing Memorandum, the Pricing Disclosure Package, the Offering Memorandum or any such
amendment or supplement or any Company Supplemental Disclosure Document, in reliance upon and in conformity with written information furnished to the Company by such Purchaser through the Representative expressly for use therein, it being understood
and agreed that the only such information consists of the fourth and fifth sentences of the eighteenth paragraph, and the twentieth paragraph under the caption “Plan of distribution” in the Preliminary Offering Memorandum and the Offering
Memorandum; and each Purchaser will reimburse the Company for any legal or other expenses reasonably incurred and documented by the Company in connection with investigating or defending any such action or claim as such expenses are incurred. 

(c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action,
such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in writing of the commencement thereof; provided that the omission so to notify the
indemnifying party shall not relieve it from any liability which it may have to any indemnified party under such subsection unless and to the extent it has been materially prejudiced 

  
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through the forfeiture by the indemnifying party of substantial rights and defenses; provided, further, that the omission to so notify the indemnifying party shall not relieve it from any
liability that it may have to an indemnified party otherwise than under paragraph (a) or (b) above. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof,
the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such
indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the
indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense
thereof other than reasonable costs of investigation. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless
(i) the indemnifying party and the indemnified party shall have mutually agreed to the contrary; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party;
(iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; or (iv) the named parties in any such
proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. No
indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which
indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the
indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act, by or on behalf of any indemnified party. 

(d) If the indemnification provided for in this Section 9 is unavailable to or insufficient to hold harmless an indemnified party under
subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party
as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Purchasers on the other from the
offering of the Securities. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the indemnified party failed to give the notice required under subsection (c) above, then each
indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company on the one hand and the
Purchasers on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits
received by the Company on the one hand and the Purchasers on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company bear to the total discounts and
commissions received by the Purchasers, in each case as set forth in the Offering Memorandum. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand or the Purchasers on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission. The Company and the Purchasers agree that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata allocation (even if the Purchasers were treated as one
entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims,
damages or liabilities (or actions in respect thereof) referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred and documented by such indemnified party in connection with investigating
or defending any such action or claim. Notwithstanding the provisions of this subsection (d), no Purchaser shall be required to contribute any amount in excess of the amount by which the total price at which the Securities purchased by it pursuant
to this Agreement and distributed to investors were offered to investors exceeds the amount of any damages which such Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.
The Purchasers’ obligations in this subsection (d) to contribute are several in proportion to their respective purchase obligations and not joint. 

  
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 (e) The obligations of the Company under this Section 9 shall be in addition to any
liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each officer and director of each Purchaser and each person, if any, who controls any Purchaser within the meaning of the Act and each
broker-dealer affiliate of each Purchaser; and the obligations of the Purchasers under this Section 9 shall be in addition to any liability which the respective Purchasers may otherwise have and shall extend, upon the same terms and conditions,
to each officer and director of the Company and to each person, if any, who controls the Company within the meaning of the Act. 
 10. (a) If
any Purchaser shall default in its obligation to purchase the Securities which it has agreed to purchase hereunder, the Representative may in its discretion arrange for you or another party or other parties to purchase such Securities on the terms
contained herein at the Time of Delivery. If within thirty-six hours after such default by any Purchaser the Representative does not arrange for the purchase of such Securities, then the Company
shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representative to purchase such Securities on such
terms. In the event that, within the respective prescribed periods, the Representative notifies the Company that you have so arranged for the purchase of such Securities, or the Company notifies the Representative that it has so arranged for the
purchase of such Securities, the Representative or the Company shall have the right to postpone the Time of Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Offering
Memorandum, or in any other documents or arrangements, and the Company agrees to prepare promptly any amendments or supplements to the Offering Memorandum which in the opinion of the Representative may thereby be made necessary. The term
“Purchaser” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Securities. 

(b) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Purchaser or Purchasers by the
Representative and the Company as provided in subsection (a) above, the aggregate principal amount of such Securities which remains unpurchased does not exceed one-eleventh of the aggregate principal
amount of all the Securities, then the Company shall have the right to require each non-defaulting Purchaser to purchase the principal amount of Securities which such Purchaser agreed to purchase
hereunder at the Time of Delivery and, in addition, to require each non-defaulting Purchaser to purchase its pro rata share (based on the principal amount of Securities which such Purchaser agreed to
purchase hereunder) of the Securities of such defaulting Purchaser or Purchasers for which such arrangements have not been made; but nothing herein shall relieve a defaulting Purchaser from liability for its default. 

(c) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Purchaser or Purchasers by the
Representative and the Company as provided in subsection (a) above, the aggregate principal amount of Securities which remains unpurchased exceeds one-eleventh of the aggregate principal amount
of all the Securities, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Purchasers to purchase Securities of a defaulting Purchaser or Purchasers,
then this Agreement shall thereupon terminate, without liability on the part of any non-defaulting Purchaser or the Company, except for the expenses to be borne by the Company and the Purchasers as
provided in Section 7 hereof and the indemnity and contribution agreements in Section 9 hereof; but nothing herein shall relieve a defaulting Purchaser from liability for its default. 

11. The respective indemnities, agreements, representations, warranties and other statements of the Company and the several Purchasers, as set
forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any
Purchaser or any officer, director, broker-dealer affiliate or controlling person of any Purchaser, or the Company, or any officer or director or controlling person of the Company, and shall survive delivery of and payment for the Securities. 

12. If this Agreement shall be terminated pursuant to Section 10 hereof, the Company shall not then be under any liability to any
Purchaser except as provided in Sections 7 and 9 hereof; but, if for any other reason (other than those set forth in clauses (i), (iii), (iv) or (v) of Section 8(f)), the Securities are not delivered by or on behalf of the Company as
provided herein, the Company will reimburse the Purchasers through the Representative for all documented out-of-pocket expenses approved in writing by the
Representative, including fees and disbursements of counsel, reasonably incurred and documented by the Purchasers in making preparations for the purchase, sale and delivery of the Securities, but the Company shall then be under no further liability
to any Purchaser except as provided in Sections 7 and 9 hereof. 

  
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 13. In all dealings hereunder, the Representative shall act on behalf of each of the
Purchasers, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Purchaser made or given by the Representative. 

All statements, requests, notices and agreements hereunder shall be in writing, and if to the Purchasers shall be delivered or sent by mail or
facsimile transmission to you as the representative at J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Rajesh Kapadia; and if to the Company shall be delivered or sent by mail or facsimile transmission to the
address of the Company set forth in the Offering Memorandum, Attention: General Counsel; provided, however, that any notice to a Purchaser pursuant to Section 9 hereof shall be delivered or sent by mail or facsimile transmission
to such Purchaser at its address set forth in its Purchasers’ questionnaire, which address will be supplied to the Company by you upon request. Any such statements, requests, notices or agreements shall take effect upon receipt thereof. 

In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)), the Purchasers are required to obtain, verify and record information that identifies their respective clients, including the Company, which information may include the name and address of their respective clients, as
well as other information that will allow the Purchasers to properly identify their respective clients. 
 14. This Agreement shall be
binding upon, and inure solely to the benefit of, the Purchasers, the Company and, to the extent provided in Sections 9 and 11 hereof, the officers and directors of the Company and each person who controls the Company and the officers, directors,
broker-dealer affiliates or any controlling person of any Purchaser, and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No
purchaser of any of the Securities from any Purchaser shall be deemed a successor or assign by reason merely of such purchase. 
 15. Time
shall be of the essence of this Agreement. 
 16. The Company acknowledges and agrees that (i) the purchase and sale of the Securities
pursuant to this Agreement is an arm’s-length commercial transaction between the Company, on the one hand, and the several Purchasers, on the other, (ii) in connection therewith and with
the process leading to such transaction each Purchaser is acting solely as a principal and not the agent or fiduciary of the Company, (iii) no Purchaser has assumed an advisory or fiduciary responsibility in favor of the Company with respect to
the offering contemplated hereby or the process leading thereto (irrespective of whether such Purchaser has advised or is currently advising the Company on other matters) or any other obligation to the Company except the obligations expressly set
forth in this Agreement and (iv) the Company has consulted its own legal and financial advisors to the extent it deemed appropriate. The Company agrees that it will not claim that the Purchasers, or any of them, has rendered advisory services
of any nature or respect, or owes a fiduciary or similar duty to the Company, in connection with such transaction or the process leading thereto. 

17. This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the Purchasers, or any
of them, with respect to the subject matter hereof. 
 18. THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK. The Company agrees that any suit or
proceeding arising in respect of this agreement or our engagement will be tried exclusively in the U.S. District Court for the Southern District of New York or, if that court does not have subject matter jurisdiction, in any state court located in
the City and County of New York and the Company agrees to submit to the jurisdiction of, and to venue in, such courts. 

  
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 19. The Company and each Purchaser hereby irrevocably waives, to the fullest extent
permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. 

20. This Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be
an original, but all such respective counterparts shall together constitute one and the same instrument. 
 21. Notwithstanding anything
herein to the contrary, the Company (and the Company’s employees, representatives, and other agents) are authorized to disclose to any and all persons, the tax treatment and tax structure of the potential transaction and all materials of any
kind (including tax opinions and other tax analyses) provided to the Company relating to that treatment and structure, without the Purchasers’ imposing any limitation of any kind. However, any information relating to the tax treatment and tax
structure shall remain confidential (and the foregoing sentence shall not apply) to the extent necessary to enable any person to comply with securities laws. For this purpose, “tax treatment” means U.S. federal and state income tax
treatment, and “tax structure” is limited to any facts that may be relevant to that treatment. 
 22. Recognition of the U.S.
Special Resolution Regimes. 
 (i) In the event that any Purchaser that is a Covered Entity becomes subject to a
proceeding under a U.S. Special Resolution Regime, the transfer from such Purchaser of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S.
Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States. 

(ii) In the event that any Purchaser that is a Covered Entity or a BHC Act Affiliate of such Purchaser becomes subject to a
proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Purchaser are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special
Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States. 
 As used in this
Section 22: 
 “BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and
shall be interpreted in accordance with, 12 U.S.C. § 1841(k). 
 “Covered Entity” means any of the
following: 
 (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 252.82(b); 
 (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 47.3(b); or 
 (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with,
12 C.F.R. § 382.2(b). 
 “Default Right” has the meaning assigned to that term in, and shall be
interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 
 “U.S. Special
Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated
thereunder. 

  
 -16- 













 If the foregoing is in accordance with your understanding, please sign and return to us
three counterparts hereof, and upon the acceptance hereof by the Representative, on behalf of each of the Purchasers, this letter and such acceptance hereof shall constitute a binding agreement among each of the Purchasers and the Company. It is
understood that your acceptance of this letter on behalf of each of the Purchasers is pursuant to the authority set forth in a form of Agreement among Purchasers, the form of which shall be submitted to the Company for examination upon request, but
without warranty on your part as to the authority of the signers thereof. 
 [Signature Page Follows] 

  
 -17- 













 
			
	Very truly yours,
	
	TWITTER, INC.
		
	By:	 	 /s/ Ned Segal

		 	Name: Ned Segal
		 	Title: Chief Financial Officer


 [Signature Page to Purchase Agreement] 













			
	Accepted as of the date hereof:
	
	J.P. Morgan Securities LLC
		
	By:	 	 /s/ Raj Kapadia

		 	Name: Raj Kapadia
		 	Title: M.D.

 For itself and on behalf of each of the Purchasers 

[Signature Page to Purchase Agreement] 












 SCHEDULE I 
  

					
	 Purchaser
	  	Principal Amount of
Securities to be
Purchased	 
	 J.P. Morgan Securities LLC
	  	$	 238,000,000.00	 
	 Goldman Sachs & Co. LLC
	  	 	189,000,000.00	 
	 Morgan Stanley & Co. LLC
	  	 	105,000,000.00	 
	 BofA Securities, Inc.
	  	 	70,000,000.00	 
	 Wells Fargo Securities, LLC
	  	 	70,000,000.00	 
	 Allen & Company LLC
	  	 	28,000,000.00	 
	 Total
	  	$	 700,000,000.00	 
		  	  
	  
	 


  
 Sch. I-1 













 SCHEDULE II 
  

	(a)	 Additional Documents Incorporated by Reference: 



None. 
  

	(b)	 Company Supplemental Disclosure Documents: 



Electronic Roadshow Presentation, dated December 2019 

Term Sheet setting forth the final terms of the Securities, substantially in the form attached hereto as Schedule III. 

 

	(c)	 Purchaser Supplemental Disclosure Documents: 



None. 

  
 Sch. II-1 













 SCHEDULE III 

[Term Sheet] 

  
 Sch. III-1 













 Pricing Term Sheet, dated December 5, 2019 

to Preliminary Offering Memorandum, dated December 2, 2019 

Strictly Confidential 
  





 
 Twitter, Inc. 

This pricing term sheet is qualified in its entirety by reference to the Preliminary Offering Memorandum, dated December 2, 2019 (the
“Preliminary Offering Memorandum”). The information in this pricing term sheet supplements the Preliminary Offering Memorandum and updates and supersedes the information in the Preliminary Offering Memorandum to the extent it is
inconsistent with the information in the Preliminary Offering Memorandum. Terms used and not defined herein have the meanings assigned in the Preliminary Offering Memorandum. 

The notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities
laws of any other jurisdiction. The notes may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the Securities Act) except in transactions exempt from, or not subject to, the registration requirements
of the Securities Act. Accordingly, the notes are being offered only to (1) “qualified institutional buyers” as defined in Rule 144A under the Securities Act and (2) outside the United States to
non-U.S. persons in compliance with Regulation S under the Securities Act. 
  

			
	Issuer:	  	Twitter, Inc. (the “Company”)
		
	Security Description:	  	3.875% Senior Notes due 2027 (the “notes”)
		
	Distribution:	  	144A and Regulation S without registration rights
		
	Principal Amount:	  	$700,000,000
		
	Gross Proceeds:	  	$700,000,000
		
	Maturity:	  	December 15, 2027
		
	Coupon:	  	3.875%
		
	Issue Price:	  	100.000% of face amount
		
	Yield to Maturity:	  	3.875%
		
	Spread to Benchmark Treasury:	  	+213 basis points
		
	Benchmark Treasury Price and Yield:	  	2.25% UST due November 15, 2027
		
	Interest Payment Dates:	  	December 15 and June 15, commencing June 15, 2020














			
		
	Optional Redemption:	  	 Make-whole call @ T+50 bps prior to September 15, 2027 (the date that is three months prior to the maturity date of the notes).

 
 On or after September 15, 2027 (the date that is three months prior to the maturity
date of the notes), at par, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

		
	Change of Control:	  	Putable at 101% of principal plus accrued and unpaid interest
		
	Trade Date:	  	December 5, 2019
		
	Settlement:	  	T+2; December 9, 2019.
		
	CUSIP / ISIN:	  	 90184L AG7 / US90184LAG77 (144A)
  

U8882P AA5 / USU8882PAA58 (Reg S)

		
	Denominations/Multiple:	  	$2,000 / $1,000
		
	Expected Ratings*:	  	S&P: BB+         Moody’s: Ba2
		
	Joint Book-Running Managers:	  	 J.P. Morgan Securities LLC
 Goldman
Sachs & Co. LLC
 Morgan Stanley & Co. LLC

BofA Securities, Inc.
 Wells Fargo Securities, LLC

		
	 Co-manager:
  

Changes to Preliminary Offering Memorandum:
	  	 Allen & Company LLC
  

The offering size is now $700 million. The net proceeds of the notes will be used for general corporate purposes, which may include capital expenditures,
investments, repayment of debt, working capital and potential acquisitions and strategic transactions. The information in the Preliminary Offering Memorandum (including, but not limited to, the as adjusted financial information in the
“Capitalization” section) is deemed to reflect the $700 million aggregate principal amount of the notes.


  
 This
material is confidential and is for your information only and is not intended to be used by anyone other than you. This information does not purport to be a complete description of these notes or the offering. Please refer to the Preliminary
Offering Memorandum for a complete description. 
 This communication is being distributed in the United States solely to Qualified Institutional
Buyers, as defined in Rule 144A under the Securities Act, and outside the United States solely to Non-U.S. persons as defined under Regulation S. 

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it
is unlawful to make such offer or solicitation in such jurisdiction. 
  

	*	 A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or
withdrawal at any time. 



  
 -2- 













 Any disclaimer or other notice that may appear below is not applicable to this communication and should be
disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system. 

  
 -3- 













 ANNEX A 

[Form of Pricing Comfort Letter 

of PricewaterhouseCoopers LLP.] 












 ANNEX B 

Restrictions on Offers and Sales Outside the United States 

In connection with offers and sales of Securities outside the United States: 

(a) Each Purchaser acknowledges that the Securities have not been registered under the Act and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the Act. 

(b) Each Purchaser, severally and not jointly, represents, warrants and agrees that: 

(i) Such Purchaser has offered and sold the Securities, and will offer and sell the Securities, (A) as part of their
distribution at any time and (B) otherwise until 40 days after the later of the commencement of the offering of the Securities and the Time of Delivery, only in accordance with Regulation S under the Act (“Regulation S”) or
Rule 144A or any other available exemption from registration under the Act. 
 (ii) None of such Purchaser or any of its
affiliates or any other person acting on its or their behalf has engaged or will engage in any directed selling efforts with respect to the Securities, and all such persons have complied and will comply with the offering restrictions requirement of
Regulation S. 
 (iii) At or prior to the confirmation of sale of any Securities sold in reliance on Regulation S, such
Purchaser will have sent to each distributor, dealer or other person receiving a selling concession, fee or other remuneration that purchases Securities from it during the distribution compliance period a confirmation or notice to substantially the
following effect: 
 The Securities covered hereby have not been registered under the U.S. Securities Act of 1933, as amended (the
“Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or (ii) otherwise until 40 days after the later of the
commencement of the offering of the Securities and the date of original issuance of the Securities, except in accordance with Regulation S or Rule 144A or any other available exemption from registration under the Act. Terms used above have the
meanings given to them by Regulation S. 
 (iv) Such Purchaser has not and will not enter into any contractual arrangement
with any distributor with respect to the distribution of the Securities, except with its affiliates or with the prior written consent of the Company. 

Terms used in paragraph (a) and this paragraph (b) and not otherwise defined in this Agreement have the meanings given to them by Regulation S. 

(c) Each Purchaser acknowledges that no action has been or will be taken by the Company that would permit a public offering of the Securities,
or possession or distribution of any of the Pricing Disclosure Package, the Offering Memorandum, any Company Supplemental Disclosure Documents or any other offering or publicity material relating to the Securities, in any country or jurisdiction
where action for that purpose is required. 
 (d) Each Purchaser has represented and agreed that: 

(i) it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation
or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) received by it in connection with the issue or sale of the Securities in circumstances in which Section 21(1) of the FSMA does not apply to us;
and 
 (ii) it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in
relation to any Securities in, from or otherwise involving the United Kingdom.