Corporate Governance

1. Independent as defined in the NYSE Listed Company Rules.

2. Metrics presented correspond with information reported in Walmart’s Annual Proxy Statements for the stated years; director metrics are based on nominees for election at the Annual Shareholders’ Meeting for each year.

3. The three committees that are considered governance committees are the Audit Committee, Nominating and Governance Committee (NGC), and the Compensation and Management Development Committee (CMDC). The Strategic Planning and Finance Committee, although not considered a governance-related committees, is also chaired by an Independent Director.

4. All members of the Audit Committee, NGC, and CMDC are independent.

5. Walmart’s shared-value approach- integrating ESG priorities into the company’s strategic objectives- means that when we seek directors with the skills and experiences identified in the Proxy Statement, those directors likewise have the backgrounds, skills, and experience appropriate for oversight of the company’s ESG strategies.