Adjusted EPS Financial Overview

Guidance The following guidance reflects the Company's expectations for the second quarter and fiscal year 2024 and is provided on a non-GAAP basis as the Company cannot predict certain elements that are included in reported GAAP results, such as the changes in fair value of the Company's equity and other investments. Growth rates reflect an adjusted basis for prior year results. Additionally, the Company's guidance assumes a generally stable consumer and continued pressure from its mix of products and formats globally. The Company's fiscal year guidance is based on the following previously disclosed FY23 figures: Net sales: $605.9 billion, adjusted operating income': $24.6 billion, adjusted EPS' $6.29. Metric Consolidated net sales (cc) Q2 Increase approximately 4.0% Consolidated operating income (cc) Adjusted EPS Decline approximately 2.0% $1.63 to $1.68 Metric Consolidated net sales (cc) Consolidated operating income (cc) Interest, net Effective tax rate Non-controlling interest Adjusted EPS Capital expenditures FY24 Increase approximately 3.5% Increase approximately 4.0%-4.5%, including an expected 100bps impact from LIFO Increase approximately $600M v. LY Approximately 26.5% Approximately $0.20 headwind to EPS v. LY $6.10 to $6.20, including an expected $0.14 impact from LIFO Flat to up slightly v. LY, unchanged from prior guidance 2 For relevant reconciliations, see Q4 FY23 earnings release furnished on Form 8-K on February 21, 2023. Our expectations are for Walmart U.S. and International to grow slightly faster than our prior view and for Sam's Club growth to be consistent with our February guidance CC Constant currency

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