2020 Annual Contact us Report Walgreens Boots Alliance, Inc. 108 Wilmot Road Deerfield, IL 60015 USA +1 (847) 315-3700 Walgreens Boots Alliance Walgreens Boots Alliance #WeAreWBA Board of Directors For Our Stockholders Support Office business ethics, our code of ethics for June, September and December. Walgreens Boots Alliance, Inc. the CEO and financial executives, corporate Checks are customarily mailed 108 Wilmot Road governance guidelines, financial press on or around the 12th of each Deerfield, Illinois 60015 releases, proxy statements, SEC filings of these months. +1 (847) 315-3700 and the Annual Report to Stockholders. These and other reports may also be obtained without charge upon request to: Transfer Agent and Registrar Stock Market Listing Investor Relations For assistance on matters such The Nasdaq Stock Market LLC Walgreens Boots Alliance, Inc. as lost shares or name changes Symbol: WBA 108 Wilmot Road, Mail Stop #1849 on shares, please contact: Deerfield, Illinois 60015 James A. Skinner Stefano Pessina EQ Shareowner Services Annual Meeting of Stockholders +1 (847) 315-2922 Executive Chairman, Executive Vice Chairman 1110 Centre Pointe Curve, Suite 101 The Annual Meeting of Stockholders will [email protected] Walgreens Boots Alliance, Inc. and Chief Executive Officer, Mendota Heights, MN 55120-4100 be held virtually on Thursday, January 28, Walgreens Boots Alliance, Inc. Walgreens Boots Alliance, Inc. has www.shareowneronline.com 2021, 8:00 a.m. Central time. Information provided the certifications of the Chief regarding how to attend will be included Executive Officer and Chief Financial in the proxy materials for the virtual Annual Officer pursuant to Section 302 of the Direct Stock Purchase Plan Meeting. All stockholders of record as of Sarbanes-Oxley Act as Exhibit 31 to its EQ Shareowner Services sponsors and the close of business on November 30, Annual Report on Form 10-K. administers a direct stock purchase plan 2020 will be sent a formal notice of the called Shareowner Services Plus Plan. meeting and proxy materials. Electronic Delivery It is a convenient method of acquiring additional Walgreens Boots Alliance stock To receive proxy statements, through the reinvestment of dividends, Investor Information annual reports and related materials optional cash payments, or both. As of August 31, 2020, Walgreens Boots electronically, refer to the proxy For a plan prospectus and enrollment Alliance, Inc. had approximately 50,600 statement sent to stockholders with this form, please call EQ Shareowner stockholders of record. annual report. After January 28, 2021, Services at +1 (888) 368-7346 and José (Joe) E. Almeida Janice M. Babiak David J. Brailer, MD contact our Investor Relations team Investor information is available at allow 1-2 weeks for delivery, or go to at +1 (847) 315-2922 or go to investor. Chairman of the Board Former Managing Partner, Chairman, investor.walgreensbootsalliance.com. The www.shareowneronline.com to enroll walgreensbootsalliance.com/contact-us and Chief Executive Officer, Ernst & Young LLP Health Evolution Partners following documents are available on the online, or download the enrollment form to request electronic delivery. Baxter International Inc. investor site: a copy of our Annual Report and prospectus. General inquiries to EQ on Form 10-K, including the related financial Shareowner Services regarding your statements and the financial statement Dividend Payment Dates Walgreens Boots Alliance, Inc. stock schedules, charters of all committees of the Walgreens Boots Alliance, Inc. should also be directed to board of directors, our code of conduct and typically pays dividends in March, +1 (888) 368-7346. Comparison of Five-Year $250 Walgreens Boots Alliance, Inc S&P 500 S&P 500 Health Care S&P 500 Food and Staples Retailing Cumulative Total Return $200 William C. Foote Ginger L. Graham Valerie Jarrett The following graph compares the five-year cumulative total return of Walgreens Boots Lead Independent Director, Former President and Former Senior Advisor to $150 Alliance, Inc. common stock with the S&P 500 Walgreens Boots Alliance, Inc. Chief Executive Officer, President Barack Obama Index, S&P 500 Health Care Index and S&P Amylin Pharmaceuticals $100 Former Chairman and Chief 500 Food & Staples Retailing Index. The graph Executive Officer, USG Corporation assumes a $100.00 investment made August 31, $50 2015, and the reinvestment of all dividends. The historical performance of our common stock is not $0 necessarily indicative of future stock performance. 8/15 8/16 8/17 8/18 8/19 8/20 Value of Investment as of August 31 2015 2016 2017 2018 2019 2020 Walgreens Boots Alliance, Inc $ 100.00 $ 94.97 $ 97.67 $ 84.14 $ 64.65 $ 49.93 S&P 500 Index $ 100.00 $ 112.55 $ 130.82 $ 156.55 $ 161.12 $ 196.47 S&P 500 Health Care Index $ 100.00 $ 104.97 $ 119.43 $ 138.68 $ 137.88 $ 168.96 S&P 500 Food & Staples Retailing Index $ 100.00 $ 109.55 $ 115.26 $ 142.78 $ 161.79 $ 189.32 John A. Lederer Dominic Murphy Nancy M. Schlichting Senior Advisor, Co-Head of UK Investments, Former Chief Executive Officer, This performance graph and accompanying disclosure is not soliciting material, is not deemed filed with the SEC, and is not incorporated by reference in any of the company’s Sycamore Partners CVC Capital Partners Henry Ford Health System filings under the Securities Act or the Exchange Act, irrespective of the timing of and any general incorporation language in such filing. As of October 29, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Í ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2020 ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number 001-36759 WALGREENS BOOTS ALLIANCE, INC. (Exact name of registrant as specified in its charter) Delaware 47-1758322 (State of incorporation) (I.R.S. Employer Identification No.) 108 Wilmot Road, Deerfield, Illinois 60015 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (847) 315-3700 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value WBA The Nasdaq Stock Market LLC 2.875% Walgreens Boots Alliance, Inc. notes due 2020 WBA20 The Nasdaq Stock Market LLC 3.600% Walgreens Boots Alliance, Inc. notes due 2025 WBA25 The Nasdaq Stock Market LLC 2.125% Walgreens Boots Alliance, Inc. notes due 2026 WBA26 The Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes Í No ‘ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ‘ No Í Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes Í No ‘ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes Í No ‘ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer Í Accelerated filer ‘ Non-accelerated filer ‘ Smaller reporting company ‘ Emerging growth company ‘ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ‘ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report. Í Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ‘ No Í As of February 29, 2020, the aggregate market value of Walgreens Boots Alliance, Inc. common stock held by non-affiliates (based on the closing transaction price on Friday, February 28, 2020) was approximately $33.5 billion. As of September 30, 2020, there were 865,915,666 shares of Walgreens Boots Alliance, Inc. common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive proxy statement for our Annual Meeting of Stockholders planned to be held on January 28, 2021 are incorporated by reference into Part III of this Form 10-K as indicated herein. Walgreens Boots Alliance, Inc. Annual Report on Form 10-K Table of Contents Part I Page Item 1. Business 1 Item 1A. Risk factors 11 Item 1B. Unresolved staff comments 37 Item 2. Properties 37 Item 3. Legal proceedings 38 Item 4. Mine safety disclosures 39 Information about our executive officers 39 Part II Item 5.