The Phoenix Suns and PayPal (NASDAQ: PYPL) announced today that they have extended their partnership through the 2026 NBA season. PayPal will continue as the Suns' jersey sponsor and, as part of the enhanced multi-year deal, the organizations will now increase their focus on supporting small businesses throughout the Valley and elevating the fan experience by offering innovative payment solutions at the arena and online.

Phoenix Suns Governor Mat Ishbia said, "We are incredibly excited about this new partnership with PayPal. From day one I've said the Suns are focused on winning, fan experience, and community impact. This deal delivers on all three. Together with Dan Schulman and the PayPal team we are going to make a real investment in the community and proudly wear their name as we continue building a world-class organization on and off the floor."

"In 2018, PayPal and the Phoenix Suns came together to form a partnership with the common goal of enhancing the fan experience on and off the court," said Dan Schulman, President and CEO, PayPal. "Together we have put PayPal at the center of the customer experience when buying merchandise, tickets and more in the arena, online or via the Phoenix Suns app. Under the new leadership of Mat Ishbia and the management team he has put in place, we see a deep commitment to our shared values. The Suns organization has built a world-class team. PayPal is thrilled to be part of the Suns' journey, as they contend for an NBA championship this year and in the years to come."

PayPal will continue to be the Official Payments Partner of the Phoenix Suns and be integrated across all payment channels operated by the Suns, including single game tickets, season tickets, merchandise, and concerts. PayPal and Venmo branding will be prominently displayed throughout Footprint Center and during telecasts and on social platforms. The PayPal patch will continue to be displayed on home and away Phoenix Suns jerseys.

As one of the largest sponsorship deals in the NBA, the new agreement between PayPal and the Phoenix Suns centers around their increased commitment to driving community and small business impact including:

• A Jersey Giveback program where a portion of proceeds from all jersey sales will be donated to local non-profits.
• An expanded Support Our City program which originally launched in 2022 to amplify local Native American-owned small businesses as part of the Suns' season-long ORIGINATIV initiative.
• A Financial Literacy program to expand economic opportunities for underserved communities in the Valley.

"Our organizations share a commitment to the people of the Valley, and we are pleased to have a partner whose mission, vision and values align so closely with what we believe in as an organization. We prioritize our fans, our customers, and our people in everything we do, with the goal of creating better experiences for everyone that we interact with at a game or purchasing environment," added Josh Bartelstein, CEO, Phoenix Suns.

Under the new ownership group led by Mat Ishbia, the Phoenix Suns and the recent addition of Kevin Durant, accompanied by elite players that include Devin Booker, Chris Paul and Deandre Ayton, are a world-class organization with championship aspirations. The Phoenix Suns continue to make deep playoff runs, and consistently rank in the top 10 of NBA jersey sales*.

‍* According to the NBA released on January 20, 2023