#12022 Financial Fact Book Walmart Inc. (NYSE: WMT) Fact Book - Fiscal 2022 April 21, 2022#22 Quick facts Company description - Walmart Inc. (NYSE: WMT) helps people around the world save money and live better anytime and anywhere - in retail stores, online and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and clubs under 46 banners in 24 countries and eCommerce websites. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart. Corporate Home Office Walmart Inc. 702 SW 8th Street Bentonville, AR 72716 Tel: 479-273-4000 Fax: 479-277-1830 http://corporate.walmart.com/ Walmart U.S. Home Office Walmart U.S. 702 SW 8th Street Bentonville, AR 72716 Sam's Club Home Office Sam's Club 2101 S.E. Simple Savings Dr. Bentonville, AR 72716 Investor Relations Contact Dan Binder, CFA SVP, Global Treasurer, Tax, Claims Administration, & Investor Relations [email protected] Media Relations Contact Randy Hargrove Sr. Director, Global Communications 800-331-0085 The amounts shown in this Fact Book are based on the most recent publically disclosed documents for fiscal year 2022. Walmart International Home Office Walmart International Support Center 702 SW 8th Street Bentonville, AR 72716 Walmart eCommerce Home Office Walmart eCommerce 850 Cherry Avenue San Bruno, CA 94066 Walmart#3Our strategy of a mutually-reinforcing flywheel positions WMT well for the next generation of retail... 3 REINVEST IN CUSTOMER VALUE PROPOSITION • Assortment Price Experience WIN PRIMARY DESTINATION • In Store Pickup Delivery Walmart+ InHome . MONETIZE CAPABILITIES • Advertising . • Data Fulfillment Last mile BE SUSTAINABLY LOWER COST Productivity Digital Automation Regenerative • • Serve customers more broadly, deepen our relationship and sustain a healthy mix EXPAND GENERAL MERCHANDISE BUILD HEALTH & WELLNESS • 1P Owned • 3P Marketplace • High quality Preventative Accessible Affordable • GROW FINANCIAL SERVICES Trusted Digital Accessible Affordable Walmart#4...while ensuring WMT's culture and prudent financial management remain constant Culture and values Financial framework Service to Respect for Strive for the customer the individual Act with excellence integrity Strategic objectives 1. Make every day easier for busy families 2. Sharpen culture and become more digital 3. Operate with discipline 4. Trust as a competitive advantage Strong, efficient growth Consistent operating discipline Strategic capital allocation Framework for sustainable earnings growth and strong returns Delivering shared value Customers Associates Communities Shareholders 4 Suppliers Planet Walmart#55 Consolidated financial overview As of and for the Fiscal Years Ended January 31, (Amounts in Millions) FY22¹ FY21 FY20 FY19 FY18 Operating results Total revenues Percentage change from previous fiscal year Net sales $572,754 2.4% $567,762 $559,151 6.7% $555,233 $523,964 $514,405 $500,343 1.9% $519,926 2.8% $510,329 3.0% $495,761 Percentage change from previous fiscal year 2.3% 6.8% 1.9% 2.9% 3.0% Gross profit rate 24.4% 24.3% 24.1% 24.5% 24.7% Operating, selling, general and administrative expenses, as a percentage of net sales 20.8% 20.9% 20.9% 21.0% 21.5% Operating income $25,942 $22,548 $20,568 $21,957 $20,437 Consolidated net income attributable to Walmart $13,673 $13,510 $14,881 $6,670 $9,862 Net income per common share: Diluted income per common share from continuing operations attributable to Walmart² $4.87 $4.75 $5.19 $2.26 $3.28 Dividends declared per common share $2.20 $2.16 $2.12 $2.08 $2.04 1In fiscal 2022 we completed the divestiture of our operations in the U.K. and Japan. See our Q4 FY22 earnings presentation for divestiture impacts 2The company's adjusted EPS for FY22 - FY18 was $6.46, $5.48, $4.93, $4.91 and $4.42, respectively Walmart#6Strong, efficient growth: 4-5-4 comparable sales 1,2 Walmart U.S. & Sam's Club comp sales continue to grow while lapping strong FY21 compares... Walmart U.S. Sam's Club 12.0% 13.3% 11.1% 10.8% 10.0% 9.3% 3.4% 3.2% 2.8% 1.9% 1.2% 0.6% 0.8% 0.3% 6.4% 8.6% 13.9% 10.4% 9.2% 7.7% 7.2% 6.0% 5.6% 5.2% 1Q20 2Q20 3Q20 4Q20³ 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Excludes fuel 2 Sam's Club comp excluding fuel was negatively affected by reduced tobacco sales by 340 bps in 1Q22, 290 bps in 2Q22, 160 bps in 3Q22 and 40 bps in 4Q22 3Calculated on a 4-5-5 basis as the retail sales calendar included 14 weeks CO Walmart#77 Strong, efficient growth: 4-5-4 comparable sales¹ ....and maintained high levels on a two-year stack 7.3% 6.2% 6.6% 6.1% 5.5% 4.1% 3.8% 4.1% Walmart U.S. Sam's Club 14.5% 13.4% 12.3% 12.1% 11.7% 11.6% 10.5% 9.6% 25.0% 21.0% 19.2% 16.0% 15.6% 14.5% 14.2% 21.2% 1Q20 2Q20 3Q20 4Q20² 1Q21 2Q21 3Q21 4Q21 1Q22³ 2Q223 3Q22³ 4Q223 1 Excludes fuel 2 Calculated on a 4-5-5 basis as the retail sales calendar included 14 weeks 3 Sam's club comp excluding fuel on a two-year stack was negatively affected by reduced tobacco sales by 750 bps in Q1, 680 bps in Q2, 580 bps in Q3 and 450 bps in Q4 Walmart#88 Financial overview: 4-5-4 comparable sales FY22 FY21 FY20 Comp store sales Q1 Q2 Q3 Q4 I Q1 Q2 Q3 Q4 I Q1 Q2 Q3 Q42 Walmart U.S.1 6.0% 5.2% 9.2% 5.6% 10.0% 9.3% 6.4% 8.6% 3.4% 2.8% 3.2% 1.9% Transactions -3.2% 6.1% 5.7% 3.1% -5.6% -14.0% -14.2% -10.9% 1.1% 0.6% 1.3% 1.0% Average ticket 9.5% -0.8% 3.3% 2.4% 16.5% 27.0% 24.0% 21.9% 2.3% 2.2% 1.9% 0.9% eCommerce 3.6% 0.2% < 0.1% -0.8% 3.9% 6.0% 5.7% 6.2% 1.8% 1.8% 2.1% 2.5% Sam's Club¹ 7.2% 7.7% 13.9% 10.4% 12.0% 13.3% 11.1% 10.8% 0.3% 1.2% 0.6% 0.8% Transactions 2.2% 5.1% 11.1% 7.0% 11.9% 8.7% 6.8% 8.4% 4.7% 5.0% 5.7% 4.3% I Average ticket 4.9% 2.5% 2.6% 3.2% 0.1% 4.3% 4.0% 2.2% -4.4% -3.8% -5.1% -3.5% eCommerce 3.1% 1.8% 1.7% 1.0% 1.7% 1.9% 2.3% 2.8% 1.5% 1.9% 1.9% 2.1% FY22 Comps FY22 Transactions FY22 Average Ticket WMT International³ Q1 Q2 Q3 Q4 I Q1 Q2 Q3 Q4 I Q1 Q2 Q3 Q4 Walmex -0.8% 5.4% 7.2% 8.3% -17.0% 7.6% 8.2% 6.7% 19.5% -2.1% -0.9% 1.5% China 1.3% 2.9% 16.5% 19.8% 5.8% 0.1% -1.0% 3.4% -4.3% 2.7% 17.7% 15.8% Canada 3.4% -3.6% 6.0% 4.6% 0.2% 5.2% 7.4% 7.7% 3.2% -8.4% -1.3% -2.9% 1Excludes fuel 2Calculated on a 4-5-5 basis as the retail sales calendar included 14 weeks. ³International comparable sales are presented on a nominal, calendar basis and in constant currency Walmart#9Segment overview Net sales by segment - FY22 13% 18% Walmart U.S. merchandise category, % of segment net sales Sam's Club merchandise category, % of segment net sales 1% 11% 1% 11% 1% 5% 5% 4% 11% 6% 6% 5% 11% 11% 12% 32% 32% 32% 12% 15% 18% 66% 64% 60% 69% 56% 56% 56% FY20 FY21 FY22 FY20 Walmart U.S. Sam's Club International ■Grocery¹ Health and wellness General merchandise Other categories 0 FY21 ■Technology, office and entertainment ■Health and wellness Home and apparel ¹Walmart U.S. grocery consists of a full line of grocery items, including meat, produce, natural & organics, deli & bakery, dairy, frozen foods, alcoholic and nonalcoholic beverages, floral and dry grocery, as well as consumables such as health and beauty aids, baby products, household chemicals, paper goods and pet supplies ■Fuel, tobacco and other categories ■Grocery and consumables FY22 Walmart#1010 Consistent operating discipline Improving inventory levels at Walmart U.S. Walmart U.S. y/y % change in net sales, & y/y % change in inventory 28.3% Committed to leveraging expenses In FY22, focused on operating efficiency: • Leveraged expenses across the company EDLC culture reinforced SG&A affected by strategic investments in: • Associates (wages, benefits, training, COVID leave) • Technology . eCommerce Customers (experience) 20.0% 15.8% 10.5% 9.5% 7.9% 11.5% 6.2% 9.3% 7.1% 5.5% 5.0% 5.3% 5.7% 21.5% Walmart consolidated SG&A % of total net sales -6.1% -4.6% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Walmart U.S. y/y change in inventory Walmart U.S. y/y change in net sales 21.0% 20.9% 20.9% 20.8% FY18 FY19 FY20 FY21 FY22 Walmart#1111 Strategic capital allocation Allocation of capital expenditures by type ($ in billions) Allocation of capital expenditures by segment ($ in billions) $10.7 FY20 $10.3 FY21 $13.1 $10.7 $10.3 $13.1 FY22 FY20 FY21 FY22 ■Walmart U.S. ■Sam's Club ■Walmart International Corporate & Support ■U.S. Supply chain, omni-channel, technology and other ■U.S. Remodels ■U.S. New stores and clubs, including expansions and relocations Walmart International . Allocating more capital to supply chain, omni-channel, technology and remodels • Allocating less capital to new store and club opening • Bringing together stores and eCommerce in a more digitally-connected way that makes shopping easier Walmart#1212 Strategic capital allocation $25.3 Operating cash flow (in billions of dollars) $36.1 $11.8 Total cash return to shareholders1 ($ in billions) $15.9 $9.8 $24.2 $8.7 $5.7 $2.6 $6.0 $6.1 $6.2 FY20 FY21 FY22 FY20 FY21 FY22 ■Dividends ■Share Repurchases 1 Dollars may not sum due to rounding. Walmart#1313 Cash returns for shareholders Stock price High FY23 FY22 FY21 N/A $151.45 $152.79 FY20 $121.28 FY19 FY18 FY17 FY16 FY15 FY14 FY13 FY12 $105.56 $109.98 $75.19 $88.00 $90.97 $81.37 $77.60 $62.00 Low Dividend Declared Yield 1 Price to earnings 2 N/A $127.53 $104.05 $93.86 $82.40 $66.04 $62.35 $56.30 $72.27 $68.13 $57.18 $48.31 $2.24 $2.20 $2.16 $2.12 $2.08 $2.04 $2.00 $1.96 $1.92 $1.88 $1.59 $1.46 N/A 1.57% 1.54% 1.90% 2.17% 1.91% 3.00% 2.95% 2.26% 2.52% 2.27% 2.38% N/A 28.7x 29.6x 22.1x 42.4x 32.5x 15.2x 14.5× 17.0x 15.4x 14.0x 13.5× 3 Return on equity N/A 15.2% 16.0% 18.5% 9.0% 13.0% 17.4% 17.8% 20.1% 20.3% 21.7% 20.8% Total Shareholder return N/A 1.1% 24.8% 21.9% -8.0% 63.8% 3.5% -19.8% 16.6% 9.4% 16.8% 12.5% WMT annual dividend WMT Total return to shareholders 70% $2.00 60% 50% $1.50 40% $1.00 $1.59 $1.88 $1.92 $1.96 $2.00 $2.04 $2.08 $2.12 $2.16 $2.20 $2.24 30% 20% 10% 0% $0.50 -10% 10-year CAGR: 3.5% -20% $0.00 -30% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 1 Calculated by dividing the declared dividend by the close price at the end of the fiscal year 2As of close of the last trading day in each fiscal year ³ Return on equity is defined as net income attributable to Walmart divided by average total equity 1.1% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Walmart