WALMART INC.

‌2025‌ ‌Annual Meeting‌
Vote by ‌June 4, 2025‌

Proxy Statement and 10-K Documents

https://stock.walmart.com/financial-information/annual-reports

How to Attend the Virtual Shareholders' Meeting Virtual Shareholders’ Meeting at:

www.virtualshareholdermeeting.com/WMT2025

Like prior years, our 2025 Annual Shareholders’ Meeting will be held in a virtual meeting format only with no physical location. Shareholders who held Shares as of the record date may attend the meeting online by logging in at: www.virtualshareholdermeeting.com/WMT2025 on the date and time provided in this notice.

You will not be able to attend the meeting in person. The live audio webcast for the meeting will begin promptly at 8:30 a.m., Central Time on Thursday, June 5, 2025. Please see pages 127-135 for additional information about how to access, vote, and submit questions during the meeting.

Items of Business

1 To elect as directors the 12 nominees identified in this proxy statement. (PAGE 8)

2 To ratify the appointment of Ernst & Young LLP as the company’s independent accountants for the fiscal year ending January 31, 2026. (PAGE 49)

3 To vote on a non-binding, advisory resolution to approve the compensation of Walmart’s Named Executive Officers. (PAGE 54)

4 To approve the Walmart Inc. Stock Incentive Plan of 2025 to provide for additional Shares for future equity grants to Walmart associates and Non-Management Directors.

5-11 To vote on the seven shareholder proposals described in the accompanying proxy statement, if properly presented at the meeting.