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Strong, Efficient Growth and Financial Overview

10 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

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