WMT · Walmart Inc. · Debt

$650,000,000 aggregate principal amount of the Company’s 4.000% Notes Due 2029 (the “2029 Notes”)

Issuer evidence: Walmart Inc., a Delaware corporation (the “Company”)

Supporting evidence: The Floating Rate Notes will constitute part of the Company’s newly created series of Floating Rate Notes Due 2029 (the “Floating Rate Series”), the 2029 Notes will constitute part of the Company’s newly created series of 4.000% Notes Due 2029 (the “2029 Series”), the 2031 Notes will constitute part of the Company’s newly created series of 4.150% Notes Due 2031 (the “2031 Series”), the 2033 Notes will constitute part of the Company’s newly created series of 4.450% Notes Due 2033 (the “2033 Series”) and the 2036 Notes will constitute part of the Company’s newly created series of 4.750% Notes Due 2036 (the “2036 Series” and, collectively with the Floating Rate Series, the 2029 Series, the 2031 Series and the 2033 Series, the “New Series”). The Notes of each New Series will be senior, unsecured debt securities of the Company and will rank equally with each other and with all of the other senior, unsecured debt obligations of the Company.

Supporting evidence: $650,000,000 aggregate principal amount of the Company’s 4.000% Notes Due 2029 (the “2029 Notes”)

$1,000,000,000 aggregate principal amount of the Company’s 4.150% Notes Due 2031 (the “2031 Notes”)

Issuer evidence: Walmart Inc., a Delaware corporation (the “Company”)

Supporting evidence: The Floating Rate Notes will constitute part of the Company’s newly created series of Floating Rate Notes Due 2029 (the “Floating Rate Series”), the 2029 Notes will constitute part of the Company’s newly created series of 4.000% Notes Due 2029 (the “2029 Series”), the 2031 Notes will constitute part of the Company’s newly created series of 4.150% Notes Due 2031 (the “2031 Series”), the 2033 Notes will constitute part of the Company’s newly created series of 4.450% Notes Due 2033 (the “2033 Series”) and the 2036 Notes will constitute part of the Company’s newly created series of 4.750% Notes Due 2036 (the “2036 Series” and, collectively with the Floating Rate Series, the 2029 Series, the 2031 Series and the 2033 Series, the “New Series”). The Notes of each New Series will be senior, unsecured debt securities of the Company and will rank equally with each other and with all of the other senior, unsecured debt obligations of the Company.

Supporting evidence: $1,000,000,000 aggregate principal amount of the Company’s 4.150% Notes Due 2031 (the “2031 Notes”)

1. *Indenture; Notes*. This Note is one of a duly authorized Series of Securities of the Company designated as the “4.150% Notes Due 2031” (the “Notes”), initially issued in an aggregate principal amount of $1,000,000,000 on April 30, 2026. Such Series of Securities has been established pursuant to, and is one of an indefinite number of Series of debt securities of the Company, issued or issuable under and pursuant to, the Indenture, dated as of July 19, 2005, by and between the Company, as Issuer, and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”), as supplemented and amended by the First Supplemental Indenture, dated as of December 1, 2006, the Second Supplemental Indenture, dated as of December 19, 2014, and the Third Supplemental Indenture, dated as of June 26, 2018, in each case, by and between the Company, as Issuer, and the Trustee (as so amended and supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes and of the terms upon which this Note is, and is to be, authenticated and delivered. The terms, conditions and provisions of the Notes are those stated in the Indenture, those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended, and those set forth in this Note. To the extent that the terms, conditions and other provisions of this Note modify, supplement or are inconsistent with those of the Indenture, then the terms, conditions and other provisions of this Note shall govern.

Issuer evidence: WALMART INC., a corporation duly organized and existing under the laws of the State of Delaware, and any successor corporation pursuant to the Indenture (herein referred to as the “Company”), for value received, hereby promises to pay to [ ] or registered assigns, the principal sum of [ ] DOLLARS ($[ ]), [IF A GLOBAL NOTE, INSERT: except as otherwise noted on the attached Schedule of Increases or Decreases in Global Note,] on April 30, 2031, and to pay interest, computed on the basis of a 360-day year consisting of twelve 30-day months, semi-annually in arrears on April 30 and October 30 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”), commencing on October 30, 2026, on said principal sum in like currency, at the rate per annum specified in the title of this Note from April 30, 2026 or from the most recent October 30 or April 30 to which interest has been paid or duly provided for. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will be paid to the person in whose name this Note is registered (the “Holder”) at the close of business on the preceding April 15, in the case of an Interest Payment Date of April 30, and on the preceding October 15, in the case of an Interest Payment Date of October 30 (each, a “Record Date”). The term “Business Day” means any day which is not a day on which banking institutions in The City of New York or the relevant place of payment are authorized or required by law, regulation or executive order to close.

Supporting evidence: **4.150% NOTES DUE 2031**

Supporting evidence: 1. *Indenture; Notes*. This Note is one of a duly authorized Series of Securities of the Company designated as the “4.150% Notes Due 2031” (the “Notes”), initially issued in an aggregate principal amount of $1,000,000,000 on April 30, 2026. Such Series of Securities has been established pursuant to, and is one of an indefinite number of Series of debt securities of the Company, issued or issuable under and pursuant to, the Indenture, dated as of July 19, 2005, by and between the Company, as Issuer, and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”), as supplemented and amended by the First Supplemental Indenture, dated as of December 1, 2006, the Second Supplemental Indenture, dated as of December 19, 2014, and the Third Supplemental Indenture, dated as of June 26, 2018, in each case, by and between the Company, as Issuer, and the Trustee (as so amended and supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes and of the terms upon which this Note is, and is to be, authenticated and delivered. The terms, conditions and provisions of the Notes are those stated in the Indenture, those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended, and those set forth in this Note. To the extent that the terms, conditions and other provisions of this Note modify, supplement or are inconsistent with those of the Indenture, then the terms, conditions and other provisions of this Note shall govern.

Supporting evidence: 1. *Indenture; Notes*. This Note is one of a duly authorized Series of Securities of the Company designated as the “4.150% Notes Due 2031” (the “Notes”), initially issued in an aggregate principal amount of $1,000,000,000 on April 30, 2026. Such Series of Securities has been established pursuant to, and is one of an indefinite number of Series of debt securities of the Company, issued or issuable under and pursuant to, the Indenture, dated as of July 19, 2005, by and between the Company, as Issuer, and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”), as supplemented and amended by the First Supplemental Indenture, dated as of December 1, 2006, the Second Supplemental Indenture, dated as of December 19, 2014, and the Third Supplemental Indenture, dated as of June 26, 2018, in each case, by and between the Company, as Issuer, and the Trustee (as so amended and supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes and of the terms upon which this Note is, and is to be, authenticated and delivered. The terms, conditions and provisions of the Notes are those stated in the Indenture, those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended, and those set forth in this Note. To the extent that the terms, conditions and other provisions of this Note modify, supplement or are inconsistent with those of the Indenture, then the terms, conditions and other provisions of this Note shall govern.

$1,250,000,000 aggregate principal amount of the Company’s 4.450% Notes Due 2033 (the “2033 Notes”)

Issuer evidence: Walmart Inc., a Delaware corporation (the “Company”)

Supporting evidence: The Floating Rate Notes will constitute part of the Company’s newly created series of Floating Rate Notes Due 2029 (the “Floating Rate Series”), the 2029 Notes will constitute part of the Company’s newly created series of 4.000% Notes Due 2029 (the “2029 Series”), the 2031 Notes will constitute part of the Company’s newly created series of 4.150% Notes Due 2031 (the “2031 Series”), the 2033 Notes will constitute part of the Company’s newly created series of 4.450% Notes Due 2033 (the “2033 Series”) and the 2036 Notes will constitute part of the Company’s newly created series of 4.750% Notes Due 2036 (the “2036 Series” and, collectively with the Floating Rate Series, the 2029 Series, the 2031 Series and the 2033 Series, the “New Series”). The Notes of each New Series will be senior, unsecured debt securities of the Company and will rank equally with each other and with all of the other senior, unsecured debt obligations of the Company.

Supporting evidence: $1,250,000,000 aggregate principal amount of the Company’s 4.450% Notes Due 2033 (the “2033 Notes”)

$1,000,000,000 aggregate principal amount of the Company’s 4.750% Notes Due 2036 (the “2036 Notes”

Issuer evidence: Walmart Inc., a Delaware corporation (the “Company”)

Supporting evidence: The Floating Rate Notes will constitute part of the Company’s newly created series of Floating Rate Notes Due 2029 (the “Floating Rate Series”), the 2029 Notes will constitute part of the Company’s newly created series of 4.000% Notes Due 2029 (the “2029 Series”), the 2031 Notes will constitute part of the Company’s newly created series of 4.150% Notes Due 2031 (the “2031 Series”), the 2033 Notes will constitute part of the Company’s newly created series of 4.450% Notes Due 2033 (the “2033 Series”) and the 2036 Notes will constitute part of the Company’s newly created series of 4.750% Notes Due 2036 (the “2036 Series” and, collectively with the Floating Rate Series, the 2029 Series, the 2031 Series and the 2033 Series, the “New Series”). The Notes of each New Series will be senior, unsecured debt securities of the Company and will rank equally with each other and with all of the other senior, unsecured debt obligations of the Company.

Supporting evidence: $1,000,000,000 aggregate principal amount of the Company’s 4.750% Notes Due 2036 (the “2036 Notes”

$350,000,000 aggregate principal amount of the Company’s Floating Rate Notes Due 2029 (the “Floating Rate Notes”)

Issuer evidence: Walmart Inc., a Delaware corporation (the “Company”)

Supporting evidence: The Floating Rate Notes will constitute part of the Company’s newly created series of Floating Rate Notes Due 2029 (the “Floating Rate Series”), the 2029 Notes will constitute part of the Company’s newly created series of 4.000% Notes Due 2029 (the “2029 Series”), the 2031 Notes will constitute part of the Company’s newly created series of 4.150% Notes Due 2031 (the “2031 Series”), the 2033 Notes will constitute part of the Company’s newly created series of 4.450% Notes Due 2033 (the “2033 Series”) and the 2036 Notes will constitute part of the Company’s newly created series of 4.750% Notes Due 2036 (the “2036 Series” and, collectively with the Floating Rate Series, the 2029 Series, the 2031 Series and the 2033 Series, the “New Series”). The Notes of each New Series will be senior, unsecured debt securities of the Company and will rank equally with each other and with all of the other senior, unsecured debt obligations of the Company.

Supporting evidence: $350,000,000 aggregate principal amount of the Company’s Floating Rate Notes Due 2029 (the “Floating Rate Notes”)