Walmart Releases 2020 Annual Report and Proxy Statement

April 23, 2020

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An associate wears a mask while selecting online grocery orders

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BENTONVILLE, Ark., April 23, 2020 — Walmart Inc. (NYSE: WMT) today issued its 2020 Annual Report and filed its Proxy Statement in preparation for the company’s upcoming virtual Annual Shareholders’ Meeting on Wednesday, June 3, 2020. Shareholders will be able to attend the meeting online. There will be no physical location for the meeting and the Company is not hosting its usual Associate Celebration event to ensure everyone’s safety given the current state of the COVID-19 pandemic.

Annual Report Highlights
The 2020 Annual Report illustrates the extraordinary efforts across the company in light of the current COVID-19 pandemic and highlights Walmart’s financial strength and positioning for ongoing success.

In his annual letter to shareholders, associates and customers, Walmart President and Chief Executive Officer Doug McMillon recognized the work of associates.

“Our associates are dedicated, resilient, creative and hard-working, and I'm honored to serve them. As I've visited our stores, clubs and distribution centers, I've heard them articulate and seen them demonstrate a 'we've got this' attitude.

“Times like these can be challenging financially, so we've supported them with a special cash bonus for all U.S. hourly associates, and we accelerated payment of the first-quarter cash bonus. The physical, financial and emotional wellbeing of our associates are priorities for us."

McMillon went on to highlight support for the local communities and customers Walmart serves and actions the company has taken to benefit stakeholders.

“Every day I hear directly from customers the deep appreciation they feel for the work our local heroes are doing to keep their communities going. People trust and know Walmart as a source of affordable products that help people live better, as well as being a major employer. We also understand the important role we play in the fabric of communities. To help meet the critical needs resulting from the pandemic, Walmart and the Walmart Foundation have committed $25 million to support organizations on the frontlines responding to the outbreak.

“The work we’ve been doing over the last several years has positioned us to serve customers even more effectively through an omni-channel approach… We’re in a strong financial position with substantial cash flows and a diversified asset base. We have the resources to grow the business and to make key investments in areas such as technology and eCommerce, even during times of uncertainty.”

2020 Annual Shareholders’ Meeting, Proxy Statement and Proposal Voting
As previously announced, in light of the COVID-19 outbreak and for the safety of all of our shareholders, associates, and other members of the community, our 2020 Annual Shareholders’ Meeting will be held in a virtual meeting format only with no physical location. The meeting will be held on Wednesday, June 3, 2020 at 10:30 a.m. CDT.

Shareholders who held shares as of the close of business on the record date of April 9, 2020 will be able to vote their shares before the meeting online at www.proxyvote.com, by calling 1-800-690-6903, by mailing a completed proxy card or by mobile device by scanning the QR code on the proxy card or notice of internet availability. Shareholders may also vote online during the virtual meeting at www.virtualshareholdermeeting.com/WMT2020.

This year’s Proxy materials seek shareholders’ votes on 11 director nominees, three company proposals and four shareholder proposals. The public will also be able to listen to the Annual Shareholders’ Meeting, without the option to vote, through a link on the company’s website. The 2020 Proxy Statement can be read online.

About Walmart
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, over 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. With fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2 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 corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.