Walton Enterprises, LLC Statement

March 6, 2020

Consistent with the Walton family’s effort to maintain an appropriate balance of family and non-family ownership of Walmart by offsetting possible increases in its ownership percentage over time and helping fund charitable contributions, Walton Enterprises, LLC has transferred approximately 14 percent of Walmart’s outstanding shares to the Walton Family Holdings Trust, an entity previously established in April of 2015 for this purpose.

No change in the total ownership of Walmart by the Walton Family occurred at the time of the transfer. There is no set timetable for the sale of shares from the trust. The 2015 announcement establishing the Walton Family Holdings Trust can be found here.