[May 14, 2015]

eBay Inc. Names Boards of Directors for eBay and PayPal Following Separation

eBay (News - Alert) Inc. (NASDAQ:EBAY), which is in the process of separating eBay and PayPal to create two independent publicly traded companies, today announced the directors who will serve on the boards of each standalone company following the separation. Each director was re-elected to the eBay Inc. Board at the 2015 Annual Meeting of Stockholders in May 2015.

As previously announced, the new eBay Board will be chaired by current eBay Inc. director Thomas Tierney. Following the separation, the eBay Board of Directors will consist of the following additional directors:

• Fred Anderson- Has served as a director of eBay since July 2003. Anderson has been a Managing Director of Elevation Partners, a private equity firm focused on the media and entertainment industry, since July 2004.
• Edward Barnholt- Has served as a director of eBay since April 2005. Barnholt served as President and Chief Executive Officer of Agilent (News - Alert) Technologies, Inc., a measurement company, from May 1999 until his retirement in March 2005.
• Anthony Bates- Has served as a director of eBay since March 2015. Bates has served as President of GoPro (News - Alert), Inc. since June 2014.
• Bonnie Hammer- Has served as a director of eBay since January 2015. Hammer has been Chairman of NBCUniversal Cable Entertainment, a division of NBCUniversal, since November 2010.
• Kathleen Mitic- Has served as a director of eBay since September 2011. Mitic is the Founder and CEO of Sitch Inc. (formerly Three Koi Labs Inc.), a mobile start-up company formed in August 2012.
• Pierre Omidyar- Founded eBay as a sole proprietorship in September 1995. He has been a director and Chairman of the Board since eBay's incorporation in May 1996. Omidyar is the Founding Partner and Chairman of Omidyar Network, a philanthropic investment firm committed to creating opportunity for individuals to improve their lives, and Co-Founder, Chief Executive Officer, and Publisher of Civil Beat, an online news service formed in 2010.
• Bob Swan- Current eBay Inc. Senior Vice President, Finance and Chief Financial Officer, Swan has served in that role since March 2006.
• Perry Traquina- Has served as a director of eBay since January 2015. Traquina served as Chairman, Chief Executive Officer, and Managing Partner of Wellington Management Company LLP, a global investment management firm, for a decade until his retirement from the firm in 2014.
• Devin Wenig- Serves as President and CEO-designee of eBay. He joined eBay in September 2011 after more than 18 years at Thomson Reuters.

Fred Anderson will serve as Chairman of the Audit Committee, Kathleen Mitic will be Chairwoman of the Corporate Governance and Nominating Committee, and Edward Barnholt will be Chairman of the Compensatio Committee at eBay.

Current eBay Inc. President and CEO John Donahoe will serve as Chairman of PayPal's (News - Alert) Board following the separation. Additional members of the PayPal Board will include:

• Jonathan Christodoro- Has served as a director of eBay since March 2015. Christodoro has served as Managing Director of Icahn Capital LP since July 2012.
• Scott Cook- Has served as a director of eBay since June 1998. Cook is the founder of Intuit (News - Alert) Inc., a maker of business and financial management technology solutions, including QuickBooks, Quicken, and TurboTax.
• David Dorman- Has served as a director of eBay since June 2014. Dorman has been the Non-Executive Chairman of the Board of CVS Caremark Corporation, a pharmacy healthcare provider, since May 2011. He is also a Founding Partner of Centerview Capital, a private investment firm, since July 2013.
• Gail McGovern- Has served as a director of eBay since March 2015. McGovern has served as President and CEO of the American Red Cross since June 2008.
• David Moffett- Has served as a director of eBay since July 2007. Moffett served as Chief Executive Officer of Federal Home Loan Mortgage Corp. (Freddie Mac), a government controlled and sponsored mortgage company, from September 2008 until his retirement in March 2009.
• Pierre Omidyar- Founded eBay as a sole proprietorship in September 1995. He has been a director and Chairman of the Board since eBay's incorporation in May 1996. Omidyar is the Founding Partner and Chairman of Omidyar Network, a philanthropic investment firm committed to creating opportunity for individuals to improve their lives, and Co-Founder, Chief Executive Officer, and Publisher of Civil Beat, an online news service formed in 2010.
• Dan Schulman- Serves as President and CEO-designee of PayPal since joining in September 2014. Schulman previously served as Group President of Enterprise Growth at American Express.
• Frank Yeary- Has served as a director of eBay since January 2015. Yeary has served as Executive Chairman of CamberView Partners, LLC since July 2012.

David Moffett will serve as Lead Independent Director and Chairman of the Audit Committee, Gail McGovern will be Chairwoman of the Corporate Governance and Nominating Committee, and David Dorman will be Chairman of the Compensation Committee at PayPal.

"eBay Inc. has long benefitted from the strong stewardship of world-class directors. As we position eBay and PayPal to compete in their respective commerce and payments markets as standalone companies, we have created two outstanding boards to support Devin and Dan and their respective management teams. We are confident that we have the right combination of skills and expertise on each board to ensure that eBay and PayPal drive lasting value for the shareholders, customers and employees of both companies," said John Donahoe.

Biographical information on eBay and PayPal's board members is available on eBay Inc.'s website.

Information on PayPal's board is included in its amended Form 10, which was filed earlier today with the Securities and Exchange Commission and is available on http://investor.ebayinc.com/annuals.cfm. PayPal's filing also contains additional details on PayPal's proposed corporate governance and management structure and notes that the company intends to list its common stock on The NASDAQ Stock Market under the ticker symbol PYPL. Following the separation, eBay will continue to trade on The NASDAQ Stock Market under its current ticker symbol EBAY.

The separation remains on-track to be completed in the third quarter of 2015.

About eBay Inc.

eBay Inc. (NASDAQ: EBAY) is a global commerce and payments leader, providing a robust platform where merchants of all sizes can compete and win. Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of buyers and sellers and enabled $255 billion of commerce volume in 2014. We do so through eBay, one of the world's largest online marketplaces, which allows users to buy and sell in nearly every country on earth; through PayPal, which enables individuals and businesses to securely, easily and quickly send and receive digital payments; and through eBay Enterprise, which enables omnichannel commerce, multichannel retailing and digital marketing for global enterprises in the U.S. and internationally. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

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