2015 Global Responsibility Report

Opportunity

Sustainability

Community 2 Leading in society: overview of priorities, initiatives and approach

2015 Global Responsibility Report 8 Giving Executive Summary 10 Progress on aspirations and public commitments

18 Delivering strong governance for Walmart shareholders

20 Corporate profile

See our full Global Responsibility Report online at: corporate.walmart.com/global-responsibility/ Lowering true cost for all Companies should use their strengths to address complex problems in their supply chains.

Walmart is well-known for Traditional costs include expenses like supplies, energy and packaging. But the net true cost considers issues such as waste-to-landfill, greenhouse gas emissions, economic offering customers the items mobility, worker safety and food safety. These are all examples of the effects production may have on the environment, in local communities, or on the people who grow and they want and need, at very make what we sell. low prices. That’s part of our We believe a business should strive for not just the lowest prices, but the lowest true cost for all. Low prices benefit customers, but low true costs benefit everyone. business model that’s here to To do this, we can’t sit on the sidelines until after a product is made. Walmart’s role is unique. We have a large presence in the world, and with that presence comes stay. But for years we’ve also great opportunity to change how business is done. In addition to tackling social been thinking in broader terms and environmental issues in our own operations, we need to actively engage in and reshape the systems in which we work. about what an item actually Food is a good example. To feed a growing planet in a sustainable way, we need to work with small and big farmers at scale. One of our initiatives is a Climate Smart costs society to produce and Agriculture Platform, which will help drive improvements in agricultural productivity deliver – from the bottom to and fertilizer and resource use over a 10-year period. Working with our suppliers and using The Sustainability Index, we are focused on increasing management, tracking the top of the supply chain – and reporting of greenhouse gas emissions and water use on farms. We’re also working to help farmers thrive through better training, yields and income. the “true” cost of a product. The world faces complicated issues across the supply chain, and there are few easy solutions. No company can solve them alone. But by embracing responsibility and collaboration with others, we can make a significant difference in the world that will serve us well in the long term.

In these pages and our full report, we’ll share what we’re doing in three main areas: • Creating economic opportunity for our associates, suppliers and people who work in retail and retail supply chains beyond Walmart • Enhancing the sustainability of our operations and product supply chains for people and the planet • Building strong communities where we operate

Doing this work happens to be very sound business. The most important asset a business has is the trust and respect of customers and other stakeholders. By tackling large issues and being transparent, a business can earn that trust, and be in a much better position than a company that focuses only on the short term. Customers love when a company does work for them, sourcing a wide variety of products that are produced sustainably. By doing the right thing, a business is setting itself up for a solid and successful future. And by focusing not just on price – but on “cost” as well – a business is tackling social and environmental sustainability at the root. That’s what you’ll see us lean into further this year and in the years ahead. Thanks for your interest in Walmart – and please continue to work with us, tell us what you think and help us do even better. Walmart 2015 Global Responsibility Report Global Responsibility Summary Executive 2015 Walmart

Doug McMillon President and Chief Executive Officer – Wal-Mart Stores, Inc.

1 Leading in society

“Save money. Live better.”

Sam Walton created Walmart to bring affordable household products to people in small towns. He put the customer first, building a strong company with dedicated associates and deeply rooted values of service, excellence, integrity and respect for the individual. More than 50 years later, customers in 27 countries around the world trust Walmart to bring them food, apparel, household goods and other general merchandise at everyday low prices through stores and e-commerce – anytime, anywhere. Along the way, Walmart has grown into the world’s largest retailer. We have stores in 10,000 communities, employing more than 2.2 million associates and thousands of suppliers who, in turn, employ millions of people. Because of our heritage, we seek to use our scale and capabilities to help others – not only customers and other Walmart stakeholders, but also society at large. We accomplish this by: Creating economic opportunity for our associates, suppliers and people who work in retail and retail supply chains beyond Walmart Enhancing the sustainability of our operations and product supply chains for people and the planet Building strong communities where we operate

2 Opportunity Sustainability Community Increase economic opportunity Deliver low true cost Strengthen local communities

Priorities Priorities Priorities • Associate opportunity • Leading in energy • Community development • Supplier/small business • Zero waste • Associate philanthropy development • Sustainable food and support • Women’s economic • Sustainable materials • Disaster response and empowerment and manufacturing preparedness • Retail sector workforce mobility Business impact Business impact • Cost of goods sold and • Sales, license to operate Business impact operating expenses • Associate engagement • Associate engagement • Supply security • Productivity Societal impact Societal impact • Social cohesion Societal impact • GHG, natural capital • Disaster mitigation • Frontline workforce mobility • Worker safety, livelihoods • Job creation Walmart 2015 Global Responsibility Report Global Responsibility Summary Executive 2015 Walmart

3 Our priorities and key initiatives

Opportunity Accelerate upward job mobility and economic development.

Associate opportunity, diversity and Women’s economic empowerment: inclusion: Accelerate the development From 2011 to 2016, source $20 billion from of Walmart associates, including providing women-owned businesses, helping to train In 2005, Lee Scott (who was CEO hundreds of thousands of people around nearly 1 million women on farms, in factories the world with their “first jobs,” competitive and in retail; and promote diversity and of Walmart at the time) set three compensation and benefits, and upward inclusion within our supplier network, which aspirational goals for Walmart job mobility. Most recently in the U.S., for is the largest in the world. that established the tone for our example, we announced an approximately $1 billion investment in higher wages, Veteran reintegration: In the U.S., accelerate corporate global responsibility. upskilling and scheduling enhancements. the reintegration of veterans into civilian These goals were to supply our As well, Walmart fosters a diverse and life and workforce. Since Memorial Day 2013, company with 100 percent inclusive workplace around the world. For Walmart has hired more than 77,000 veterans, example, as of FY2015, 32 percent of our nearly 16,000 as part of our Veterans Welcome renewable energy, to create corporate officers are women, and 22 per- Home Commitment. Also, through a $20 mil- zero waste and to sell products cent are people of color. lion philanthropic investment, Walmart and that sustain people and the the Walmart Foundation are working with Retail opportunity: Accelerate mobility private and public sector organizations to environment. Grounded in this of retail workers from entry- to middle- support veteran reintegration. foundation, we work hard every skills jobs, with more than $100 million day on initiatives to promote in grants funded by Walmart and the Supplier/small business development: Walmart Foundation over the next five Develop local suppliers and small businesses. sustainability, economic oppor- years. Priorities include clarifying retail We are doing this through supplier develop- tunity and strong communities and related-sector career paths, better ment programs, supplier diversity programs around the world. pre-employment training, more innovative and local manufacturing efforts such as our and relevant on-the-job and supplemental U.S. manufacturing initiative that will source training and credentials that employers $250 billion of products made, assembled will accept for advancement. or sourced in the U.S. over 10 years. The Sam’s Club Giving Program is strengthening the microlending sector to expand access to capital for small businesses.

4 Sustainable operations Minimize the environmental footprint and the cost of Walmart operations.

Energy: Reduce our energy consumption Waste: Generate zero waste by reducing, by 20 percent per square foot by 2020 reusing and recycling materials we use to compared with our 2010 baseline; work our run our facilities, including cardboard boxes, way toward being powered 100 percent by food waste, plastic film and cooking oil. renewable energy (we are at 26 percent); Today we are diverting 82.4 percent of our and double the fuel efficiency of our fleet waste materials in the U.S. and 68 percent (we’ve improved efficiency by 87.4 percent internationally from going to the landfill. since 2005).

Sustainable food Help the world feed a growing population by making food more affordable, accessible, healthier, safe and transparent.

Affordable: Keep food affordable for Healthier: Make it easier for people to buy customers, while promoting farmer livelihoods and prepare nutritious food. For example, in and preserving the world’s fish stocks, forests, the U.S. we’re working to eliminate trans fat water and air quality. To do this, we work and reduce sodium (by more than 16 percent with suppliers and others to optimize the so far) and sugar (by 10 percent) in the prod- use of inputs such as fertilizer and water, ucts we sell; introducing low-priced, healthier train farmers, and adopt sustainable sourcing product lines and affordable organics lines; policies for commodities such as beef, and providing information about nutrition seafood and palm oil. online and through special programs with nonprofits and non-governmental organi- Accessible: Bring affordable, quality food zations (NGOs). to more people through our stores and e-commerce and donate food to alleviate Safe and transparent: Promote transparency, hunger among the most vulnerable. In the human rights and animal welfare among U.S., for example, we opened 375 stores in suppliers and across food chains; lead the “food deserts” (communities that don’t have industry in implementing food safety standards a grocery store), have doubled the availability and practices around the world, from the of local produce and lowered the price of U.S. to China; put customers in charge of produce by $3.5 billion over the past two their food choices by helping provide clear, years. Walmart and the Walmart Foundation accurate information about food ingredi- have provided more than 1.1 billion charitable ents and production methods. meals since the beginning of FY2015. Walmart 2015 Global Responsibility Report Global Responsibility Summary Executive 2015 Walmart

5 Our priorities and key initiatives continued

Sustainable product design and manufacturing Foster social and environmental responsibility across the supply chain.

What goes into products: Work with How products get made: Work with What happens to products after suppliers to deliver products that are suppliers in factories and on farms to they are used: Promote recycling and better for people (e.g., eliminate promote worker safety and fair treatment, repurposing of products at the end of chemicals of concern) and for the improve energy efficiency and reduce their life to keep them out of landfills. planet (e.g., ask suppliers to increase pollution. For example, according to the For example, we run a cell phone “take- recycled content, reduce packaging Alliance for Bangladesh Worker Safety, back” program in the United States. and design for recyclability). The GE more than 275 factories were inspected Walmart and the Walmart Foundation residential LED light bulb and P&G’s and improvements are being made to also helped create and launch the concentrated laundry detergent are structural and fire safety. And we are Closed Loop Fund – a $100 million, two examples of products we helped working directly with manufacturers in low-interest loan fund that municipali- create that are more sustainable for China to lower energy consumption by ties can tap into to pay for building a the planet. 30 percent over the next several years. recycling infrastructure.

Strong communities Strengthen local community cohesion and resilience, while inspiring our associates to give back.

Community grants: Engage with Associate philanthropy: Encourage Disaster relief: Help prepare for and and provide grants to community our associates to contribute time and provide disaster relief in the aftermath organizations from our regional offices, money to the causes they care about of hurricanes, typhoons, tornadoes and stores and other facilities. In the U.K., most. In FY2015, our U.S. associates earthquakes through our emergency for example, Asda gave more than volunteered more than 1.5 million hours operations center and our collaborations 10,000 grants as part of the Chosen in their local communities. Walmart also with organizations like the Red Cross By You, Given By Us program in 2014. contributed $14 million to the causes in and United Nations. Over the last And in the U.S., Walmart and the “dollar-for-doer” grants. 10 years, Walmart and the Walmart Walmart Foundation awarded over Foundation have given more than $100 million in state and neighborhood $43 million in cash to various countries grants to law enforcement agencies, burdened by disaster. fire departments, schools, recreation centers and more.

In everything we do, we set bold aspirations for social and environmental outcomes. We seek to change the way the retail industry operates so that the improvements go beyond Walmart and are lasting.

6

For Walmart, leading on social and environmental issues is a “whole company” undertaking that we pursue in collaboration with customers, suppliers, nonprofit organizations and governments around Our approach the world. For us, it’s more than just a matter of philanthropy. It’s woven into our day-to-day business activities.

Lead through the business: Prioritize actions that draw on Walmart capabilities: At Walmart, we integrate the social and environmental Globally and in each market, we choose to focus on agenda into our day-to-day business activities, including issues where we have a relative advantage in making a our leadership practices, our organization roles and difference because of our particular capabilities. This structure, and our incentives, tools and processes. For includes our 2.2 million associates in 10,000 communities; example, our operators and real estate teams are hard our supplier relationships and buying power in food, at work every day on our energy and waste goals. Our apparel and other categories; our physical assets merchants and sourcing teams work with our suppliers on such as stores, trucks and distribution centers; and our sustainable product goals. Our supplier development our capabilities in logistics, marketing, operations teams help create opportunities for suppliers. and merchandising.

Seek business as well as societal benefits: Collaborate with others: Wal-Mart Stores, Inc., will be most successful at – and Walmart and the Walmart Foundation search for able to sustain – social and environmental initiatives organizations around the world that have capability that create business value. For example, we’ve commit- to accomplish one of our societal goals, and we work ted to reduce sodium by 25 percent, added sugars by with them to provide the funding, resources or 10 percent and to remove all industrially produced trans expertise they need to deepen and scale their impact. fats in our private brands, including Great Value and This model allows us to accomplish more in a shorter national food brands in the U.S. by the end of 2015, amount of time and take advantage of the expertise of compared with our 2008 baseline. We’ve also opened those organizations dedicated to a particular cause. An 375 stores in areas serving designated food deserts in example is our collaboration with CARE, Swasti, World the U.S. since 2012. Efforts like these not only elevate our Vision and Business for Social Responsibility on the business, but also increase access to healthier, affordable development of a Women in Factories training program food in the communities we serve. that will reach more than 60,000 women working in 150 factories in Bangladesh, India, El Salvador, Honduras Use philanthropy to complement business initiatives: and China. The collaboration has included the devel- Walmart extends our impact on social and environmental opment of an open-source curriculum by CARE that has issues through our philanthropy. During FY2015, we been adapted to meet the needs of each country, as contributed approximately $1.4 billion worldwide well as best-practice sharing to help factory management through cash and in-kind giving – drawing on business and human resource teams lead training. Providing funding assets such as food, logistics know-how and emergency and facilitating a community of practice has resulted in operations expertise to further enhance our impact. For a stronger initiative. It’s creating a more inclusive example, Walmart and the Walmart Foundation contrib- mindset and positive environment for the women uted more than $70 million in cash to programs that working on factory floors and, in turn, contributing to enhance nutrition and alleviate hunger. We carry out more productive operations for factory owners. such work through the Walmart Foundation, which leads our global and U.S. philanthropic efforts; market-specific foundations such as the Asda Foundation; and market-by-market giving programs. Walmart 2015 Global Responsibility Report Global Responsibility Summary Executive 2015 Walmart Every healthy, high-performing company has an obligation to use its strengths to help society. In the long term, a company’s business interests and the interests of society converge. Governments, companies, communities and individuals – we are all interdependent and stronger together.

7 Giving

Walmart uses philanthropy to extend the positive social and environmental impact of our business initiatives. The Walmart Foundation, a registered 501(c)3 based in the U.S., provides cash grants that complement Walmart’s corporate cash and in-kind giving (as well as associate volunteerism) in the arenas of opportunity, sustainability and community around the world. Together Walmart and the Walmart Foundation use their strengths to address large societal issues in a systemic way. Below we describe the priority programs of the Walmart Foundation and Walmart corporate giving around the world: • Helping create economic opportunity for individuals and fostering economic growth • Enhancing the sustainability of global supply chains in food, apparel and general merchandise • Strengthening the resilience and cohesion of local communities and inspiring associates to give back

Opportunity

Increase economic mobility and foster economic growth by awarding grants and sharing expertise.

Retail opportunity: Accelerate economic mobility of workers in the retail and related industry sectors through more relevant training, clearer career paths and supportive services (including a philan- thropic commitment of $100 million in the U.S. over five years).

Women’s Economic Empowerment: Train nearly 1 million women on farms, in factories and in retail around the world. By the end of 2014, funding was in place to train more than 800,000 women.

U.S. veterans: Accelerate the reintegration of veterans into civilian life, helping governments, employers and nonprofits coordinate services through a $20 million philanthropic investment by Walmart and the Walmart Foundation over the next five years.

Small businesses: Educate small business borrowers and increase access to affordable capital by scaling up high-performing, mission- driven lenders in the U.S.

Local manufacturing: Inspire a manufacturing comeback. As part of Walmart and the Walmart Foundation $10 million U.S. Manufacturing Innovation Fund, we awarded $4 million in grants to seven leading research and development institutions to solve manufacturing challenges related to small motor assembly, plastic injection molding and advanced textiles.

8 More than FY2015 More than $320 million global cash giving $1.47 More than U.S. – $285 million International – $34 million $1.14 billion More than billion global in-kind giving total global giving 1.5 million U.S. – $1.1 billion associate volunteer hours International – $36 million 76,505 unique associates

Sustainability Community

Enhance the sustainability of global supply chains Strengthen local communities and inspire in food, apparel and general merchandise. associates to give back.

Hunger relief: Strengthen the hunger relief system, including Associate support: The Walmart Foundation also provides a support for food banks and increasing access to meal programs. In limited number of scholarships for associates and their dependents. FY2014, Walmart and the Walmart Foundation delivered (one year Since FY2012, the Walmart Foundation has given $22.4 million to early) on a previous commitment to donate $2 billion in the U.S., organizations that award scholarships to our associates and their including food donations and $250 million in grants. In FY2015, dependents. Walmart (along with others, such as the Walmart Foun- Walmart and the Walmart Foundation committed to donate dation, Asda Foundation) also supports programs that make grants another 4 billion meals over the next five years. to associates struggling with crises, such as natural disasters or a death in the family. Nutrition: Teach people how to shop for and cook more nutritious food on a budget. In FY2015, the Walmart Foundation contributed Community grants and volunteerism: Support our local $10 million to nutrition education in the U.S. communities and our associates’ efforts to make a difference in their communities. In FY2015, Walmart, the Walmart Foundation Sustainable product design and manufacturing: Lower the and local giving teams such as the Asda Foundation and Foundacion environmental and social cost of producing products for our de Mexico provided more than $100 million in grants to organizations customers. For example, the Walmart Foundation helped create through community and regional grants programs. We also and launch the Closed Loop Fund, which will provide $100 million in encourage associate giving and volunteerism through matching low-interest loans to municipalities and companies to build out donations programs in many Walmart markets. recycling infrastructure. Disaster response and preparedness: Help provide our associates and communities with resources they need during and after a disaster; strengthen community preparedness and ability to recover from a disaster. Over the past 10 years, Walmart and the Walmart Walmart 2015 Global Responsibility Report Global Responsibility Summary Executive 2015 Walmart Foundation have provided more than $43 million in cash to various countries burdened by disasters.

9 10 Opportunity and public commitments public and aspirations on Progress jobs in the U.S. the in jobs Street create Main and microlending scale help loans, unlock support, technical and training education, with owners small-business Reach Business Small Mayors. of Conference U.S. the with collaboration in executed is being fund The footprint. facturing manu- America’s growing thatsupport jobs and ideas processes, create new who to those award Fund Innovation $10 Manufacturing U.S. million a of creation the announced Foundation 2014, January In Walmart the and Walmart 2013). in (began jobs U.S. of creation the encourage and manufacturing growto U.S. 10 effort an in years over U.S. the in grown or sourced assembled, made, $250 products in billion additional an Buy manufacturing Local Sam’s and Club. Walmart serving key suppliers on account major teamsof minorities and women of inclusion encourage and suppliers diverse from sourcing Increase diversity Supplier Supplier small and business development

On track public commitment public area track focus ●Completed On Aspirational   of their Walmart and Sam’s and Walmart their of Club teams. ethnicity and gender the have suppliers reported 65 professional-service $3.1and At 2014, of end the spending. billion in second-tier than more $10.4 amount This includes businesses. owned spending billion in direct In FY2015 U.S., in the we spent approximately $13.5 diversity- billion with small-business owners. small-business and micro- has more thancontributed training to 20,000 effort This jobs. create and thrive can they so responsibly needs their to meet products of type access and by increasingbusiness owners capital availability the thanmore $18Main million to helplocal inStreet to grants nonprofits Since 2010, Sam’s Club Sam’s the and Program have Club Giving provided second request for proposal in 2015. to issue a We expect textiles. advanced and molding injection plastic related challenges to small motor assembly,to manufacturing solve to U.S. researchin sevenleading the institutions development and $4million Foundation awarded in Walmart grants the and Walmart U.S. in the assembly or towels, manufacturing to furniture patio toys, are suppliers expanding We’re to target on reach commitment our by 2023. From light bulbs to over U.S. jobs 10source $250 supporting years. billion in products 2015 toJanuary journey Walmart’s of anniversary second the marked At risk ❍At

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13 Walmart 2015 Global Responsibility Report Executive Summary 14 Sustainability special projects and continuous improvement. improvement. continuous and projects special through emissions GHG and efficiency water yields, food in improvements Foster chains. supply food in GHG and usage water yields, regarding key metrics 10 into years next over the visibility increasing Gain chain food Sustainable Index is available. the where categories in goods produce they if ucts prod- their of sustainability the share and evaluate to Index Sustainability the use who suppliers from only Sam’s units and Club U.S. U.S. Walmart in sell 2017, of end the By we goods 70 the of buy percent Index Sustainability products sustainable More U.S. farmland by 2020. farmland U.S. 14 for plans of acres million optimization fertilizer to develop suppliers Encourage progress. to measure tool primary the as Index the use and objectives performance her to hisor goals sustainability merchant’s each Tie U.S. by the end of 2015 of end by the U.S. baseline). (2009 the in sold produce sourced locally of sales Double markets by the end of 2016. of end by the markets emerging in women, be will half which of workers, farm and farmers to 1million training Provide the end of 2015. of end the global private brands to be sourced sustainably by Walmart’s in oil palm 100 the of percent Require and Sam’sand Club U.S. Canada U.K., U.S., the in Project Improvement Aquaculture or Improvement Project Fishery in a involved or certification, toward working actively or Consortium, Sustainability by The developed Programs Sustainability Credible of Principles the accordancewith in a program (BAP),Aquaculture Practices managing or Best or (MSC) Stewardship Council by Marine certified third–party to be seafood wild and farmed frozen, 100 fresh, of percent Require On track public commitment public area track focus ●Completed On Aspirational         water efficiency and food yields. food and water efficiency continuous improvement, including but not limited to GHG emissions, thatand report ouruse track to suppliers quantitativemetrics of set field contains Index Now,arobust Sustainability the transparent reporting. and Crops others) and metrics agriculture on Specialty for Index Center, Innovation Fieldto U.S. Market, Dairy Consortium, Stewardship 2014, Sustainability (The organizations several with we collaborated launching thisat United the Nations goal ClimateAfter Summit in fall Index. the covered U.S. storesinthat and categories by in Walmart were sold In 2014, evaluated represented 65 percent goods products the the of production. to sustainable more drive Index are using Sustainability the side, Walmart we’re the On there. 1,300 almost Nearly suppliers Walmart GHG by 2020. by GHG potential the with to Canada, and reduce 11 of tons million metric (MMT) 23 million on U.S. landin acres the of providers service and cooperatives 17 with partnerships In total, joint agricultural suppliers, we’ve established them. from buy they products the and suppliers their of performance to improve sustainability tools need the they 70Nearly U.S. stores have Walmart for percent Index the buyers the of the end of 2015. of end the million to $749.6$404 million. We to remain by track reach on goal our 2014, of end the By sourced produce from locally of we increasedsales an estimated 79,967an estimated women. being that 151,000 Asia will and train in Africa four projects funded farmers, 475,537including 2014, During women. Foundation Walmart the this of date,As in place was to funding reach atotal 837,449 of farmers, contributed to 564,321 training which297,655 of farmers, were women. FY2015, of end the By Foundation had Walmart the and Walmart (50 percent) GreenPalm and certificates (35percent). (15 sourcedsegregated oil was throughof amix percent), mass balance FY2015,palmoil. In RSPO-certified percent54 oil, palm supporting our of We’re sourcing 100 of goal our to percent track meet on palm sustainable place to certification. achieve sustainable plans in with Improvement is supply our involved in Fishery Projects, by BAP. chain supply is certified farmed Additionally, percent15 of thispercent percent offering, and by MSC69 Of 95 our of is certified sourced inPolicy. accordancesustainably Seafood Walmart’s with is seafood wild Canada’s and Walmart frozen, and fresh farmed percent U.S, than 90 More Walmart Sam’s of and Club U.S., Asda At risk ❍At

Sustainability deforestation by the end of 2015. of end by the deforestation Amazon of thatis free beef sustainable only Source 2008 baseline. 2008 2015 of end by the (FY2016), our with compared well as fats trans remove produced industrially all by 10by sugars as 25 percent percent, added and sodium Reduce U.S. the in brands food national and Value Great brand our including brands, private our of quality nutritional the Improve in beef supply chain. supply beef in Practices Management Best environmental NCBA to deliver with partner and Program Assurance Quality Beef endorse U.S., the In nutritious choices. nutritious more identify quickly customers U.S. to help seal You for aGreat afront-of-pack Develop label, standards for customers. for standards quality and practices best environmental by 202315 supply to ensure U.S. the of percent for pilot atransparency to develop ranchers and yards feed packers, with align U.S., the In next five years 2020). five years (through next over the U.S. the in people to 4million education nutrition by providing choices food healthier about families educate to help Invest programs in desert areas in the U.S. by 2016 U.S. the in areas 2012). in desert (beginning food designated 275–300 serving stores Open Sam’s centers. Clubs distribution and stores, Walmart our from donations food and Foundation Walmart the from grants 2015 from U.S. the in them to 2020 via need who to those meals 4billion Provide hunger relief efforts. relief hunger supporting in customers and associates Engage

 ❍     ●  program. through Volunteerism Pays Always volunteerism corporate –our raising than organizations, reliefmore $1.4 and hunger causes million In FY2015, U.S. our associates volunteered than more 159,000 to hours to reach 2015. of end thisby the goal that contribute doesn’t We’resource to beef deforestation. only track on purchase to orders in its will usethis program monitoring Brazil Walmart In 2015, beef. sourcingBrazilian promotes and of ranching responsible Monitoring and Risk Management System, which monitors tracks, and In 2014, inBeef our participating began suppliers beef Brazil’s Walmart expect, and that and takes time. expect, our customers characteristics the sacrificing without healthier foods We’re qualities. tofor solutions finding other important and committed the desired advances without compromising taste, convenience, texture processesor challenging tosubstitutes to make it’s find food Sometimes hydrogenated oils. partially FY2014, inU.S. our stores contained fewer than 6percent products of At of end the we continueand sugar for reduction. goal toour exceed FY2014, of end the By by than more 16 sodium we reduced percent, the U.S. beef value chain. value U.S. beef the for framework on the sustainability shaping focused transparent effort USRSB beef. sustainable for multistakeholder,policies is an independent, procurement guiding in the and towardbeef U.S. defining sustainable (USRSB). Beef Sustainable for is akey step Roundtable partnership This In 2014, to launchU.S. the key stakeholders several with worked Walmart to USDA the icon for approval. year,itemsThis submitted have been lean thanmeat more 60 poultry and Great the For You carry now brands Value private icon. Marketside and items, produce, fresh including than Great 30More percent qualifying of 15 percent goal. that alarger-scale willtoward us as help we develop work program our directly, insights we valuable gathered feedlot the and ranch the with working chain. acrossBy supply the practices assessing sustainability to while ranch fork from to supply atraceable build designed Colorado, In 2014, sourcing pilotand in Montana beef we completed asustainable into 929,659 in FY2015. reached people a for of total $51 efforts, education million since 2011.Thattranslated In FY2015, Foundation contributed $10 Walmart the million to nutrition dollar rather than aamount. reached people of number aspecific target to education nutrition for commitment to support increase charitable 2014,In October existing its Foundation broadened Walmart the across the U.S. We exceeded our goal ayear schedule. of goal ahead our across U.S. We the exceeded FY2015, of end the By we’d 375 deserts food opened stores serving $61 million in funding to fighting organizations in the hunger U.S. Foundation contributed than more Walmart the and FY2015,Walmart In meal programs. federal and philanthropic in charitable investments 1.1 billion meals U.S. in through the storesclubs our and through and Since FY2015, Foundation have Walmart the and donated Walmart rogress on aspirations and publiccommitments P

15 Walmart 2015 Global Responsibility Report Executive Summary 16 Sustainability Walmart’s Factory Efficiency Program by Program 2017. Efficiency Factory Walmart’s in participate will China in sourced business our 70 of percent thatrepresent factories and Suppliers manufacturing Sustainable Index. Sustainability into the Scorecard Packaging the of successes and learnings the Incorporate Sustainable design product items. key on better-for-you premiums inate price elim- or Reduce vegetables. and fruits fresh on year $1 approximately per billion customers Save U.S. More sustainable products January 2018.January beginning packaging product on chemicals ority 2015 January beginning online ingredients pri and product all by disclosing transparency Increase content. recycled of supply the increase Sustainably packaging. plastic of recyclability the Increase and products. packaging content plastic in recycled Increase by the end of 2015. of end by the chain supply global Walmart’s from emissions GHG of tons(MMT) metric Eliminate 20 million the Index. by covered are goods those if U.S. the in sold goods 70 of for and percent supply food in improvements sustainability to track Index Sustainability Use the –Sustainable food chain continued On track public commitment public area track focus ●Completed On Aspirational -      measure progress across key metrics. KPIs so thatcan we consistentlypackaging specific includes Index the that packaging, alot rely of on For categories Index. Sustainability the into practices sustainability We’ve key packaging-related incorporated tons diverted and money saved. money and tons diverted thisbe made willyear. investments Fund first the and tracking be willWe Loop launchClosed the Foundation helped Walmart the and Walmart finding and prioritizing improvement opportunities. help need who usethissuppliers can and with tool Index Sustainability We’re progress through KPIs in the tracking opportunities. optimization packaging to guidelines prioritize recyclability We packaging published increasing for by it 2020. asked forecasts and for current their postconsumer about resin level by type packaging In 2014, approximately 100 we surveyed using suppliers plastic improvement initiatives. of energy-efficiency identification that the tool guides aWeb-based (RedE), Engine Deployment in China have to on Resource the signed Efficiency Since this we announced initiative in August 2014, factories than more 200 to percent. 4.5 FY2015, of As version. reduced annual average differential the further was better-for-you item, average, on cost 5.7 percent traditional than more the over year. data,in 2011, U.S. pricing Walmart on Based aWalmart-selected to $3.5 billion since 2012, continues freshness our and to improve year In FY2015, $1.09 customers we saved us produce, fresh billion on taking fully disclose ingredients online and track progress Index. through the track and online ingredients disclose fully U.S. in to the national our brands of now suppliers the encouraging Samsclub.com. and at We’re suppliers Walmart.com our private-brand all from products in-scope for all ingredients disclosed and We cataloged of 2014.of emissions GHG chain of supply end our by tons the from metric (MMT) that cumulatively than more 17.4 reduced projects on worked million Environmental the Fund, with Defense we’ve partnership our Through Index. Sustainability by the tracked were Index U.S. stores thatWalmart Sustainability are the for eligible In 2014,improvement opportunities. in sales percent food the of 64 to on suppliers agree with to useit fertilizer. partner or buyers Our water, such as pesticides, hot-spot categories, labor issues food in various us to Itenables identify food. of across world’sassortment the largest toWe measure Index continuous usethe advance and improvement At risk ❍At

Community care most about. most care they causes for to volunteer associates Encourage ability to recover from disaster. to from recover ability the and preparedness community Strengthen or certificate. degree apostsecondary to earn dependents their and associates for scholarships Provide to provide life-saving and life-sustaining items. leveraging retail presence, logistics and operations by disasters following communities local Support preparedness and response Disaster acrisis. experiencing to associates programsSupport that provide financial support Associate support organizations. to tocharitable donate associates to encourage donations matching Provide philanthropy Associate support and philanthropy Associate organizations. charitable local to support associates Walmart Empower developmentCommunity Walmart Foundation matchedWalmart than more $8.4 million. in FY2015,program $12 nearly associates raised the and million. Walmart dollar,for $1 from ranging million to $8 this charity. millionThrough per Foundation matches Walmart contributions dollar those The Program. Giving Associate the of as part throughorganizations payrolldeduction U.S. associates enables toWalmart give to any 11 of nonprofit participating state. each associates Walmart in of recommendations committees on of based many and State throughprograms othercauses the Program, Giving to addressing organizations hunger, veterans development, workforce $47 $37 Foundation awarded Walmart the million. In addition, million totaling organizations, to than more grants community than 46,000 In 2014, more Rico made U.S. Puerto in and the facilities Walmart resiliency, resiliency, and disaster for response infrastructure technological to:lion strengthen FY2015, Foundation invested than Walmart more $1.5 the and Walmart mil invested than more $7.2 In world. around the resiliency million in community 10 past Foundation the have Walmart Over the and years, Walmart disasters. by than more $43provided million in cash to countries burdened various 10 past Foundation the have Walmart Over the and years, Walmart . that award to scholarships U.S. our associates dependents. their and Since FY2012, Foundation has given $22.4 Walmart the million to organizations job. losing their aspouse or death family in the to income due circumstances household by such of loss as a impacted associates 3,849 clothing shelter;and or food, needed who disasters In FY2015 342 by U.S.,natural in the ACNT alone associates helped impacted $14 million in “dollar-for-doer” in FY2015. grants generated They volunteerat their organizations. of eligible hours behalf U.S. associates aVolunteerism for may apply Pays Always (VAP) grant on wellness,relief,health and hunger more. and development workforce to environmental areas in organizations the sustainability, education, of In FY2015, U.S. our associates volunteered than more 1.5 million hours ters convene and in disaster relief to practices. leaders share best build capacity to facilitate skills-based volunteerism to facilitateskills-based disas during capacity build

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17 Walmart 2015 Global Responsibility Report Executive Summary Delivering strong governance for Walmart shareholders Walmart was established on a strong foundation of integrity and ethics and these values are reflected in our commitment to strong governance practices. Our board regularly reviews our governance practices in light of investor feedback and trends in best practices, and makes changes as appropriate.

Our governance profile is shareholder friendly

• Individual board members elected annually • Shareholder ability to act by written consent • Shareholder ability to call a special meeting • Majority voting in uncontested elections of directors • Separate chairman of the board and CEO, with a lead independent director in place Shareholder outreach • Majority of the Board composed of independent directors and engagement • Rigorous succession planning process for directors and executive officers • Board and Board committees conduct annual self-evaluations to determine whether they are We welcome the views of our functioning effectively and to identify areas in which their effectiveness can be enhanced shareholders because these • No poison pill relationships are an integral part of • Increased stock ownership requirements our corporate governance practices. We conduct shareholder outreach throughout the year to help management and the Board Board leadership structure understand issues of importance to Board diversity by tenure our shareholders and we address • Non-executive Chairman 6 them appropriately. Management • Lead independent director 5 regularly reports to the CNGC about • Non-executive Vice chairman input from institutional investors. 3 Median: 6.4 years • CEO Average: 7.3 years When appropriate, we also respond to • Chairs of three committees (Audit, CNGC & SPFC) are independent 1 individual shareholders who provide feedback about our business. Through Years 0-4 4-8 8-12 12+ engagement, we have reached resolutions on issues that are in the Highly qualified and diverse board • Director skill sets position Board for effective oversight & strategic counselBoard to diversitymanagement by age best interests of our shareholders, Board diversity by tenure • Customized onboarding process for new directors 6 and we remain committed to these 6 ongoing initiatives. • Ongoing engagement with the business for all board members 5 4 3 Median: 65 years 3 Median: 6.4 years 2 Average: 58 years Committed to thoughtful Board refreshment, ensuringAverage: 7.3 yearsan effective mix of deep company knowledge and 1fresh perspectives. Ages <50 50-59 60-69 70-75 Years 0-4 4-8 8-12 12+ We welcome feedback from all shareholders, who can contact our Board diversity by tenure Board diversity by age Board diversity by gender* Global Investor Relations team by: 6 6 • calling 1-479-273-6463 5 4 4 - Female • emailing [email protected] 3 Median: 6.4 years 3 Median: 65 years • using Walmart’s Global Investor Average: 7.3 years 2 Average: 58 years 11 - Male 1 Relations App, available for free in

iTunes and Google Play Years 0-4 4-8 8-12 12+ Ages <50 50-59 60-69 70-75 • visiting http://stock.walmart.com *FemaleBoard diversity representation by age significantly higher than many Fortune 500 companies. Board diversity by gender* 6

4 3 Median: 65 years 4 - Female 2 Average: 58 years 18 11 - Male

Ages <50 50-59 60-69 70-75

Board diversity by gender*

4 - Female

11 - Male Delivering strong governance for Walmart shareholders

Key committee Qualifications and Experience memberships* Strategy Governance

Board of Directors Senior leadership Retail business Global or international and e-commerce Technology Marketing, brand management or public relations reporting or financial accounting Finance, Regulatory or legal Age Director since occupation Principal Independent Audit and Governance Nominating Compensation, Planning and Finance Strategic and eCommerce Technology boards Other public company Former Administrator, U.S. Small Aida M. Alvarez 65 2006 ✔ n Business Administration 0 James E. Robison Professor of James I. Cash, Jr. ✧ 67 2006 Business Administration Emeritus, ✔ n n 2 Harvard Business School Retired CEO and Group Managing Roger C. Corbett 72 2006 ✔ n Director, Woolworths Limited 2 Pamela J. Craig 58 2013 Retired CFO, Accenture plc ✔ n 2

Michael T. Duke 65 2008 Retired President and CEO, Walmart n n 0

Timothy P. Flynn 58 2012 Retired Chairman and CEO, KPMG ✔ ● 2 Former Chairman and CEO, Thomas W. Horton 53 2014 ✔ n American Airlines 1 Marissa A. Mayer 39 2012 President and CEO, Yahoo! Inc. ✔ n n 1

C. Douglas McMillon 48 2013 President and CEO, Walmart 0 General Partner, ❖ 45 2008 n ● Gregory B. Penner Madrone Capital Partners 1 Retired Dean of Business, Steven S Reinemund 67 2010 Wake Forest University, and retired ✔ ● 3 Chairman and CEO, PepsiCo., Inc. Kevin Y. Systrom 31 2014 CEO and Co-Founder, Instagram ✔ n n 0 Chairman and CEO, Jim C. Walton 66 2005 Arvest Bank Group, Inc. 0 S. Robson Walton✱ 70 1978 Chairman, Walmart 0

Retired Chairman and CEO, Report Global Responsibility Summary Executive 2015 Walmart Linda S. Wolf 67 2005 ✔ ● n Leo Burnett Worldwide, Inc. 1

TOTAL 12 6 14 5 4 7 5 ✱ Board chair ✧ Lead independent director ● Committee chair Douglas N. Daft(1) ❖ Board vice chair ✔ Independent n Committee member

(1) Mr. Daft, an independent director, will retire from the Board effective June 5, 2015. * Committee assignments are reviewed periodically and are subject to change. 19 Corporate profile

“Save money. Live better.” Sam Walton created Walmart to bring affordable household products to people in small towns. He put the customer first, and he created a strong company with dedicated associates and deeply held values of service, excellence, respect for the individual and integrity.

Fifty years later, hundreds of millions of customers in 27 countries around the world trust Walmart to bring them food, apparel, household goods and other general merchandise at an everyday low price – not just through stores, but through e-commerce as well, anywhere, anytime, anyplace. Because of our heritage and our values, we aim to use our strengths to help others. We want to lower the true cost of living for people and for the planet.

2.2 million Walmart U.S. associates globally Today, there are more than 4,500 total stores in 50 states and Puerto Rico offering a convenient shopping experience across the U.S. Walmart offers low prices on the broadest assortment of grocery and general merchandise through a variety of formats, ranging from Supercenters and Neighborhood Markets to smaller $482 formats. We also offer the con- venience of online shopping billion at walmart.com. fiscal 2015 net sales

20 more than eCommerce Serving customers websites 11,000 260 retail units 11 million countries times per week

Walmart International

In 1991, Walmart became an Global eCommerce international company when we opened a Sam’s Club near Mexico In addition to being the world’s City. Just two years later, Walmart largest retailer, Walmart is International was created. We Sam’s Club also one of the world's largest, operate retail units with many fastest-growing and most dynamic different formats and leverage The first Sam’s Club opened in e-commerce organizations, operat- our global resources to meet Midwest City, Okla., in 1983, and ing websites in Argentina, Brazil, local needs. Today, Walmart has grown to include more than Canada, Chile, China, Japan, Mexico, International is the fastest-growing 600 locations nationwide. Our South Africa, the U.K. and the U.S. part of our overall business, with warehouse membership format Based in California’s Silicon Valley more than 6,100 retail units and leverages insights to deliver value − with operations in Bangalore, more than 800,000 associates in and quality on a broad selection India, and São Paulo, Brazil − 26 countries outside the U.S. and of name-brand merchandise and Walmart Global eCommerce leads Puerto Rico. large-volume items. On average, all online and mobile innovation our clubs are approximately for Walmart. With some of the best 133,000 square feet and employ and brightest technologists, about 175 associates. We also offer including @WalmartLabs, we’re the convenience of online shopping creating a seamless experience that at samsclub.com. lets customers shop anytime and 72 banners anywhere using online, mobile, 27 countries social media and stores. Executive Report Summary Responsibility Global 2015 Walmart

For specific business financials, visit our Annual Report. Our sustainable, next-generation report

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