Walmart Announces 2016 Annual Shareholders’ Meeting Voting Results

FAYETTEVILLE, Ark.–(BUSINESS WIRE)–Wal-Mart Stores, Inc. (NYSE: WMT) today announced shareholder voting
results for its Annual Shareholders’ Meeting. Approximately 92.90
percent of all outstanding shares were present or represented by proxy
at the meeting.

The company reported that shareholders approved the election of each of
Walmart’s 12 director nominees. Each director nominee received
affirmative votes from approximately 94.51 percent or more of the shares
voted, excluding abstentions and broker non-votes, as follows (all
percentages are rounded to the nearest 1/100 of 1 percent):

Shareholders voted to approve, on an advisory basis, the compensation of
Walmart’s named executive officers described in Walmart’s 2016 proxy
statement, with approximately 84.80 percent of the shares present in
person or represented by proxy voting in favor of this proposal. The
Board of Directors had recommended a vote for this proposal.

Shareholders also voted to approve the 2016 associate stock purchase
plan, with approximately 99.35 percent of the shares present in person
or represented by proxy voting in favor of this proposal. The Board of
Directors previously had approved the associate stock purchase plan,
subject to shareholder approval.

Shareholders also ratified Ernst & Young LLP as Walmart’s independent
accountants, with affirmative votes from approximately 99.49 percent of
the shares that were present in person or represented by proxy at the
meeting and entitled to vote.

The three shareholder proposals, each of which the Board of Directors
had recommended a vote against, failed to receive affirmative votes from
a majority of the total shares that were represented at the meeting and
entitled to vote and, accordingly, they did not pass. A report on the
approximate percentages of the shares present or represented by proxy at
the meeting that were voted in favor of each shareholder proposal
follows:

• Proposal 5 – Request to adopt an independent chairman policy:
  approximately 14.81 percent of the shares that were present or
  represented by proxy at the meeting and entitled to vote.
• Proposal 6 – Request for annual report regarding incentive
  compensation plans: approximately 9.45 percent of the shares that were
  present or represented by proxy at the meeting and entitled to vote.
• Proposal 7 – Request for report regarding criteria for operating in
  high-risk regions: approximately 0.69 percent of the shares that were
  present or represented by proxy at the meeting and entitled to vote.

The official voting results for each of these proposals will be
disclosed in a report to be filed next week with the Securities and
Exchange Commission.

About Walmart

Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save
money and live better – anytime and anywhere – in retail stores, online,
and through their mobile devices. Each week, nearly 260 million
customers and members visit our 11,527 stores under 63 banners in 28
countries and e-commerce websites in 11 countries. With fiscal year 2016
revenue of $482 billion, Walmart employs more than 2.3 million
associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting http://corporate.walmart.com
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
Online merchandise sales are available at http://www.walmart.com
and http://www.samsclub.com.

Contacts

Wal-Mart Stores, Inc.
Media Relations:
Randy
Hargrove, 800-331-0085
or
Investor Relations:
Steve
Schmitt, 479-258-7172