Notes: June 26, 2015 -- eBay Inc. (NASDAQ: EBAY) today announced that its board of directors has approved the completion of the previously announced separation of eBay and PayPal into independent publicly traded companies. The separation will occur through a pro rata distribution of all of the stock of eBay’s subsidiary PayPal Holdings, Inc. to eBay stockholders. In the distribution, eBay Inc. stockholders will receive one share of PayPal common stock for each share of eBay Inc. common stock held as of the close of business on July 8, 2015, the record date for the distribution. Subject to the satisfaction of the conditions to the distribution, the distribution of PayPal common stock is expected to occur on July 17, 2015. PayPal anticipates that when-issued trading will begin on or about July 6, 2015, and will continue up to and through the distribution date. Shares of PayPal in the when-issued market will trade under the symbol PYPL.wi. Regular-way trading in PayPal’s common stock is expected to begin on July 20, 2015. PayPal will be an independent, publicly traded company and will be listed on the NASDAQ Stock Market under the ticker PYPL. eBay will continue to trade on the NASDAQ Stock Market under the ticker EBAY.