# EDGAR Filing Document

**Accession Number:** 0001327567
**File Stem:** 0001193125-25-192870
**Filing Date:** 2025-8
**Character Count:** 27495
**Document Hash:** f7890617fe0e6b212b03f6bc36652d41
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-192870.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001193125-25-192870

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Palo Alto Networks Inc
- **CENTRAL INDEX KEY:** 0001327567
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 202530195
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-289954
- **FILM NUMBER:** 251281891

**BUSINESS ADDRESS:**
- **STREET 1:** 3000 TANNERY WAY
- **CITY:** SANTA CLARA
- **STATE:** CA
- **ZIP:** 95054
- **BUSINESS PHONE:** 408-753-4000

**MAIL ADDRESS:**
- **STREET 1:** 3000 TANNERY WAY
- **CITY:** SANTA CLARA
- **STATE:** CA
- **ZIP:** 95054

**As filed with the Securities and Exchange Commission on August 29, 2025** 

**Registration No. 333-** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM S-8** 

**REGISTRATION STATEMENT** 

***Under***

***The Securities Act of 1933***

## Palo Alto Networks, Inc.
**(Exact name of Registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **Delaware** | **20-2530195** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**3000 Tannery Way** 

**Santa Clara, California 95054** 

**(Address of principal executive offices, including zip code)** 

**2012 Employee Stock Purchase Plan** 

**(Full title of the plan)** 

**Nikesh Arora** 

**Chief Executive Officer** 

**Palo Alto Networks, Inc.** 

**3000 Tannery Way** 

**Santa Clara, California 95054** 

**(408) 753-4000** 

**(Name, address and telephone number, including area code, of agent for service)** 

***Copies to:***

---

| | |
|:---|:---|
| **Jose F. Macias**<br> **Wilson Sonsini Goodrich & Rosati**<br> **Professional Corporation**<br> **650 Page Mill Road**<br> **Palo Alto, California 94304**<br> **(650) 493-9300** | **Bruce Byrd**<br> **Executive Vice President, General Counsel**<br> **Palo Alto Networks, Inc.**<br> **3000 Tannery Way**<br> **Santa Clara, California 95054**<br> **(408) 753-4000** |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement on Form S-8 (this "**Registration Statement**") in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the "**Securities Act**"), and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plan covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

Palo Alto Networks, Inc. (the "**Registrant**") hereby incorporates by reference into this Registration Statement the following documents previously filed with the Securities and Exchange Commission (the "**Commission**") (excluding any portions of such documents that have been "furnished" but not "filed" for purposes of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**")):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The Registrant's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1327567/000132756725000027/panw-20250731.htm) for the fiscal year ended July 31, 2025 filed with the Commission on August 29, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) The Registrant's Current Reports on [Form 8-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001327567/000132756725000024/panw-20250813.htm) filed with the Commission on August 18, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) The description of the Registrant's Common Stock contained in the Registrant's Registration
Statement on [Form 8-A](http://www.sec.gov/Archives/edgar/data/0001327567/000119312521305477/d222644d8a12b.htm) (File No. 001-35594) filed with the
Commission on October 22, 2021, pursuant to Section 12(b) of the Exchange Act, including any amendment or report filed for the purpose of updating such description.

All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents; *provided*, *however*, that documents or information deemed to have been furnished and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

------

**Item 6. Indemnification of Directors and Officers.** 

Section 145 of the General Corporation Law of the State of Delaware authorizes a corporation's board of directors to grant, and authorizes a court to award, indemnity to officers, directors and other corporate agents under certain circumstances.

As permitted by Section 102(b)(7) of the General Corporation Law of the State of Delaware, the Registrant's certificate of incorporation includes provisions that may eliminate the personal liability of its directors and officers for monetary damages resulting from breaches of their fiduciary duties as directors and officers to the fullest extent permitted by applicable law. In addition, the certificate of incorporation provides that the Registrant is required to indemnify, to the fullest extent permitted by applicable law, any director or officer of the Registrant who is or was a party or is threatened to be made a party to any proceeding (other than a proceeding by or in the right of the Registrant that has not been approved by the Registrant's board of directors) by reason of the fact that he or she is or was serving in such capacity or is or was serving at the request of the Registrant as a director, officer, employee or agent of another entity, against expenses, judgments and other amounts paid in settlement actually and reasonably incurred by such person.

In addition, as permitted by Section 145 of the General Corporation Law of the State of Delaware, the amended and restated certificate of incorporation and bylaws of the Registrant provide that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Registrant is required to indemnify, to the fullest extent permitted by applicable law, any director or
officer of the Registrant who was or is a party or is threatened to be made a party to any proceeding (other than a proceeding by or in the right of the Registrant) by reason of the fact that he or she is or was serving in such capacity or is or was
serving at the request of the Registrant as a director, officer, employee or agent of another entity, against expenses, judgments and other amounts paid in settlement actually and reasonably incurred by such person if such person acted in good faith
and in a manner such person reasonably believed to be in or not opposed to the best interests of the Registrant, and, with respect to any criminal action or proceeding, had no reasonable cause to believe such person's conduct was unlawful;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Registrant is required to indemnify, to the fullest extent permitted by applicable law, any person who was or
is a party or is threatened to be made a party to any threatened, pending or completed proceeding by or in the right of the Registrant to procure a judgment in its favor by reason of the fact that such person is or was serving in such capacity or is
or was serving at the request of the Registrant as a director, officer, employee or agent of another entity, against expenses actually and reasonably incurred by such person in connection with the defense or settlement of such proceeding if such
person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Registrant, unless the court in which such proceeding is brought determines that such person is liable to the Registrant
and does not determine that, despite such liability, such person is fairly and reasonably entitled to indemnification for such expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Registrant is required to advance expenses, as incurred, to its directors and officers in connection with
defending a proceeding, provided that such director or officer must undertake to repay such advances if it is ultimately determined that such person is not entitled to indemnification; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The rights conferred in the certificate of incorporation and bylaws are not exclusive, and the Registrant is
authorized to enter into indemnification agreements with its directors and officers and to obtain insurance to indemnify such persons.

In addition, the Registrant's policy is to enter into separate indemnification agreements with each of its directors and officers that require the Registrant to indemnify its directors and officers, to the maximum extent permitted by applicable law, and also provide for certain procedural protections.

The indemnification obligations described above may be sufficiently broad to permit the indemnification of the Registrant's directors and officers for liabilities (including reimbursement for expenses incurred) arising under the Securities Act.

------

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

**Item 8. Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Exhibit**<br> **Description** |
| 4.1 | [Restated Certificate of Incorporation of Palo Alto Networks, Inc., as amended (incorporated by reference to Exhibit 3.1 to the Registrant's Annual Report on Form 10-K for the fiscal year ended July 31, 2025, as filed with the Commission on August 29, 2025).](http://www.sec.gov/Archives/edgar/data/1327567/000132756725000027/panwex31restatedcertificat.htm) |
| 4.3 | [Amended and Restated Bylaws of Palo Alto Networks, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed with the Commission on August 18, 2025).](http://www.sec.gov/Archives/edgar/data/1327567/000132756725000024/ex31amendedandrestatedbyla.htm) |
| 4.4 | [Specimen common stock certificate of the Registrant (incorporated by reference to Exhibit 4.1 to the Registrant's Registration Statement on Form S-1 (Registration No. 333-180620), as declared effective by the Commission on July 19, 2012).](http://www.sec.gov/Archives/edgar/data/1327567/000119312512296699/d318373dex41.htm) |
| 5.1 | [Opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation.](d64852dex51.htm) |
| 23.1 | [Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm.](d64852dex231.htm) |
| 23.2 | [Consent of Wilson Sonsini Goodrich & Rosati, Professional Corporation (contained in Exhibit 5.1 hereto).](d64852dex51.htm) |
| 24.1 | [Power of Attorney (contained on signature page hereto).](#sig) |
| 99.1 | [2012 Employee Stock Purchase Plan, as amended and restated, and related form agreements (incorporated by reference to Exhibit 10.5 to the Registrant's Annual Report on Form 10-K for the fiscal year ended July 31, 2025, as filed with the Commission on August 29, 2025).](http://www.sec.gov/Archives/edgar/data/1327567/000132756725000027/panwex1052012employeestock.htm) |
| 107 | [Calculation of Filing Fee Table.](d64852dexfilingfees.htm) |

---

**Item 9. Undertakings.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Filing Fee Tables" or "Calculation of Registration Fee" table, as applicable, in the effective registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement.

*Provided, however*, that paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Santa Clara, State of California, on August 29, 2025.

---

| | |
|:---|:---|
| **PALO ALTO NETWORKS, INC.** | **PALO ALTO NETWORKS, INC.** |
| By: | /s/ NIKESH ARORA |
|  | Nikesh Arora |
|  | *Chairman and Chief Executive Officer* |

---

------

**POWER OF ATTORNEY** 

KNOW ALL THESE PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Nikesh Arora, Dipak Golechha, and Bruce Byrd, and each of them, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this registration statement, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their, his or her substitutes, may lawfully do or cause to be done by virtue thereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ NIKESH ARORA | Chairman, Chief Executive Officer and Director (Principal Executive Officer) | August 29, 2025 |
| Nikesh Arora | Chairman, Chief Executive Officer and Director (Principal Executive Officer) | August 29, 2025 |
| /s/ DIPAK GOLECHHA | Chief Financial Officer (Principal Financial Officer) | August 29, 2025 |
| Dipak Golechha | Chief Financial Officer (Principal Financial Officer) | August 29, 2025 |
| /s/ JOSH PAUL | Chief Accounting Officer (Principal Accounting Officer) | August 29, 2025 |
| Josh Paul | Chief Accounting Officer (Principal Accounting Officer) | August 29, 2025 |
| /s/ LEE KLARICH | Chief Product and Technology Officer and Director | August 29, 2025 |
| Lee Klarich | Chief Product and Technology Officer and Director | August 29, 2025 |
| /s/ APARNA BAWA | Director | August 29, 2025 |
| Aparna Bawa | Director | August 29, 2025 |
| /s/ JOHN M. DONOVAN | Director | August 29, 2025 |
| John M. Donovan | Director | August 29, 2025 |
| /s/ CARL ESCHENBACH | Director | August 29, 2025 |
| Carl Eschenbach | Director | August 29, 2025 |
| /s/ JAMES J. GOETZ | Director | August 29, 2025 |
| James J. Goetz | Director | August 29, 2025 |
| /s/ RALPH HAMERS | Director | August 29, 2025 |
| Ralph Hamers | Director | August 29, 2025 |
| /s/ RT HON SIR JOHN KEY | Director | August 29, 2025 |
| Rt Hon Sir John Key | Director | August 29, 2025 |
| /s/ MARY PAT MCCARTHY | Director | August 29, 2025 |
| Mary Pat McCarthy | Director | August 29, 2025 |
| /s/ HELLE THORNING-SCHMIDT | Director | August 29, 2025 |
| Helle Thorning-Schmidt | Director | August 29, 2025 |
| /s/ LORRAINE TWOHILL | Director | August 29, 2025 |
| Lorraine Twohill | Director | August 29, 2025 |

---

## Exhibit 5.1

**Exhibit 5.1** 

---

| | |
|:---|:---|
| ![LOGO](g64852dsp012.jpg)  | Wilson Sonsini Goodrich & Rosati<br>Professional Corporation<br>650 Page Mill Road<br>Palo Alto, California 94304-1050<br>O: 650.493.9300<br>F: 650.493.6811 |

---

August 29, 2025

Palo Alto Networks, Inc.

3000 Tannery Way

Santa Clara, California 95054

---

| | |
|:---|:---|
| **Re:** | **Registration Statement on Form S-8**  |

---

Ladies and Gentlemen:

We have examined the Registration Statement on Form S-8 (the "**Registration Statement**") to be filed by Palo Alto Networks, Inc., a Delaware corporation (the "**Company**"), with the Securities and Exchange Commission on or about the date hereof, in connection with the registration under the Securities Act of 1933, as amended, of an aggregate of 6,679,357 shares of the Company's common stock, par value $0.0001 per share, reserved for issuance pursuant to the Company's 2012 Employee Stock Purchase Plan (which plan is referred to herein as the "**Plan**" and which shares of common stock are collectively referred to herein as the "**Shares**").

On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when issued and sold in the manner referred to in the Plan and pursuant to the agreements that accompany the Plan, will be legally and validly issued, fully paid and nonassessable.

We consent to the use of this opinion as an exhibit to the Registration Statement, and further consent to the use of our name wherever appearing in the Registration Statement and any amendments thereto.

---

| |
|:---|
| Very truly yours, |
| /s/ Wilson Sonsini Goodrich & Rosati, P.C. |
| WILSON SONSINI GOODRICH & ROSATI |
| Professional Corporation |

---

AUSTIN BOSTON BOULDER BRUSSELS HONG KONG LONDON LOS ANGELES NEW YORK PALO ALTO

SALT LAKE CITY SAN DIEGO SAN FRANCISCO SEATTLE SHANGHAI WASHINGTON, DC WILMINGTON, DE

## Exhibit 23.1

**Exhibit 23.1** 

**Consent of Independent Registered Public Accounting Firm** 

We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2012 Employee Stock Purchase Plan of Palo Alto Networks, Inc. of our reports dated August 29, 2025, with respect to the consolidated financial statements of Palo Alto Networks, Inc. and the effectiveness of internal control over financial reporting of Palo Alto Networks, Inc. included in its Annual Report (Form 10-K) for the year ended July 31, 2025, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

San Mateo, California

August 29, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

#### Exhibit 107

#### CALCULATION OF FILING FEE TABLE
Form S-8

(Form Type)

Palo Alto Networks, Inc.

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered Securities

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Security<br> Type** | **Security<br> Class Title** | **Maximum<br> Aggregate<br> Offering<br> Price** | **Fee Rate** | **Amount of<br> Registration<br> Fee** |
| &nbsp;&nbsp;&nbsp;Equity  | Common Stock, $0.0001 par value per share – reserved for issuance pursuant to the Registrant's 2012 Employee Stock Purchase Plan, as amended and restated Other<sup>(3)</sup>6679357<sup>(2)</sup>$156.40<sup>(3)</sup> | $1044651434.80 | 0.0001531 | $159936.14 |
| &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | $1044651434.80 |  | $159936.14 |
| &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** |  |  | $159936.14 |

---

(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of the Registrant's common stock that become issuable under the Registrant's 2012 Employee Stock Purchase Plan, as amended and restated (the "Plan") by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration that increases the number of the Registrant's outstanding shares of common stock.

(2) Represents an automatic annual increase on August 1, 2025 to the number of shares of common stock reserved for issuance under the Plan, which increase is provided for in the Plan.

(3) Estimated in accordance with Rules 457(c) and 457(h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of $156.40 per share, which is 85% of the average of the high and low prices of the Registrant's common stock as reported on The NASDAQ Global Select Market on August 25, 2025. Pursuant to the Plan, the purchase price of the shares of common stock reserved for issuance thereunder will be 85% of the fair market value of a share of the Registrant's common stock on the Enrollment Date (as defined in the Plan) or on the Exercise Date (as defined in the Plan), whichever is lower.