Walmart shareholders approve officer liability limitation, elect directors, reject shareholder proposals

On June 4, 2026, Walmart Inc. (the "Company") held its Annual Shareholders' Meeting (the "Meeting"). At the Meeting, the Company's shareholders approved an amendment (the "Charter Amendment") to the Company's Restated Certificate of Incorporation, as amended from time to time (the "Certificate of Incorporation"), to limit the liability of certain officers of the Company to the fullest extent permitted under Delaware law.

Election of Directors The Company's shareholders elected for one-year terms all eleven persons nominated for election as directors as set forth in the Proxy Statement. The following table sets forth the vote of the shareholders at the Meeting with respect to the election of directors: Nominee For Against Abstain Broker Non-Votes Cesar Conde 6,475,579,143 50,164,479 4,831,814 633,971,647 Sarah J. Friar 6,514,321,598 11,700,270 4,553,568 633,971,647 John R. Furner 6,485,530,053 40,316,465 4,728,918 633,971,647 Carla A. Harris 6,352,545,569 173,494,253 4,535,614 633,971,647 Thomas W. Horton 6,413,736,523 111,888,677 4,950,236 633,971,647 Marissa A. Mayer 6,466,604,047 59,398,938 4,572,451 633,971,647 Shishir Mehrotra 6,492,644,977 32,899,188 5,031,271 633,971,647 Robert E. Moritz, Jr. 6,465,496,802 60,064,343 5,014,291 633,971,647 Gregory B. Penner 6,348,541,000 177,035,049 4,999,387 633,971,647 Randall L. Stephenson 6,274,541,334 247,546,757 8,487,345 633,971,647 Steuart L. Walton 6,484,

The Company's shareholders voted upon and rejected a shareholder proposal requesting cumulative voting for board elections. The votes on this proposal were as follows: For Against Abstain Broker Non-Votes 122,306,285 6,390,550,159 17,718,992 633,971,647

The Company's shareholders then voted upon and rejected a shareholder proposal requesting a report on immigration policy and enforcement. The votes on this proposal were as follows: For Against Abstain Broker Non-Votes 278,449,353 6,174,725,696 77,400,387 633,971,647

Approval of an Amendment to the Certificate of Incorporation. The Company's shareholders voted upon and approved the Charter Amendment . The votes on this proposal were as follows: For Against Abstain Broker Non-Votes 6,153,086,052 370,166,105 7,323,279 633,971,647

Advisory Vote to Approve Named Executive Officer Compensation. The Company's shareholders voted upon and approved, by nonbinding, advisory vote, the compensation of the Company's named executive officers, as described in the Proxy Statement. The votes on this proposal were as follows: For Against Abstain Broker Non-Votes 6,263,129,484 256,160,712 11,285,240 633,971,647

Company Proposals Ratification of Independent Accountants. The Company's shareholders voted upon and approved the ratification of the appointment of Ernst & Young LLP to serve as the Company's independent registered public accounting firm for the fiscal year ending January 31, 2027. The votes on this proposal were as follows: For Against Abstain 6,985,709,983 172,769,575 6,067,525 There were no broker non-votes with respect to this proposal.

Finally, the Company's shareholders then voted upon and rejected a shareholder proposal requesting a report on the workforce impact of AI and automation. The votes on this proposal were as follows: For Against Abstain Broker Non-Votes 323,453,709 6,138,362,361 68,759,366 633,971,647

Next, the Company's shareholders voted upon and rejected a shareholder proposal requesting a report on workplace health and safety governance. The votes on this proposal were as follows: For Against Abstain Broker Non-Votes 433,230,655 6,013,774,452 83,570,329 633,971,647