Background of the Study

Where in the World is Walmart?

From our humble beginnings as a small discount retailer in Rogers, Ark., Walmart has opened
thousands of stores in the United States and expanded internationally. Through this model of
expansion, we’ve taking a multi-local, tailored approach bringing the right businesses to the
communities that need them, and creating opportunities and bringing value to customers, suppliers
and associates around the globe.

Today, Walmart operates more than 10,500 stores and clubs under 46 banners in 24 countries and
eCommerce websites. As of the end of FY2022, we employed approximately 2.3 million associates
worldwide, with approximately 1.6 million associates in the U.S.

https://corporate.walmart.com/about/location-facts

Walmart conducts retail and/or e-commerce operations. One of the basic beliefs upon which Sam
Walton founded our company is “respect for the individual.” We believe in treating each other with
respect, whether it is a co-worker, supplier, customer or anyone doing business with us. This means
treating one another with fairness and courtesy in all of our interactions in the workplace and as
members of society. Furthermore, we are committed to maintaining a diverse workforce and an
inclusive work environment. Walmart does not discriminate in employment, employment-related
decisions or in business dealings on the basis of an individual’s race, color, ancestry, age, sex, sexual
orientation, religion, disability, ethnicity, national origin, veteran status, marital status, pregnancy or
any other status protected by law or local policy. (pwede sa company profile)

Our Standards for Suppliers express our company’s expectations of suppliers and their facilities
regarding the ethical treatment of workers, workplace safety, environmental responsibility, and
appropriate business practices. Suppliers meet these standards by operating their businesses in an
ethical and sustainable way. Our programs set expectations, establish accountability, and provide
resources and training for our associates, suppliers and facility management. We believe driving
accountability and continuous improvement throughout our supply chain has a positive impact on the
communities where we and our suppliers conduct business; for that reason, our continued presence
in challenging parts of the world is more likely to address human rights deprivations than would
withdrawing our business.

Because of our basic belief in respect for the individual, we seek to use our scale and capabilities to
help people and communities. In addition to creating opportunities for our associates to develop and
advance, we collaborate with suppliers, government, civil society and others to address pressing
issues such as poverty, hunger, climate change and natural disasters. Walmart also creates economic
opportunity for people and businesses in our supply chains by sourcing products from economically
underserved areas, implementing programs that advance women’s economic mobility, creating
advancement opportunities for people in retail and related sectors, promoting local manufacturing,
championing supplier diversity and helping suppliers and small businesses grow.

https://corporate.walmart.com/how-we-operate-around-the-world

Walmart International
Walmart helps people save money and live better. Walmart International delivers on this promise by
bringing value and convenience to millions of customers in 19 countries outside the U.S.

Our unique global perspective makes it possible to see connections that others cannot and to bring
innovations to market that make life easier for customers. In addition we’re building strategic
partnerships through equity investments to support our core businesses.

Our strategy is to build strong local businesses that are powered by Walmart—while at the same time
generating growth for the company and our partners, and making a positive impact on our
stakeholders.
Walmart International has more than 5,100 retail units and approximately 550,000 associates around
the world. Additionally, Walmart Global Sourcing works with manufacturers to sell their products
including apparel, homeware, jewelry, hardlines and more throughout the world. Upholding
Walmart’s reputation as the world’s most trusted retailer, Global Sourcing regularly audits suppliers’
practices and works with them through the Walmart Responsible Sourcing Program to help them
meet Walmart’s high standards.

Markets where we operate:

Africa- Massmart
Walmart acquired a majority stake in Massmart Holdings Ltd. in 2011. Massmart is an African retail
group that owns brands such as Game, Makro, Builders, Cambridge Foods and more. We have leading
market shares in the general merchandise, liquor, home improvement and wholesale food markets in
the retail and wholesale stores we operate. The Group’s key foundations of high volume, low cost,
responsible business and operational excellence enable our price leadership.

President & CEO: Mitch Slape

South Africa
Walmart acquired a majority stake in Massmart Holdings Ltd. in 2011. Massmart is an African retail
group that owns brands such as Game, Makro, Builders, Cambridge Foods and more. We have leading
market shares in the general merchandise, liquor, home improvement and wholesale food markets in
the retail and wholesale stores we operate. The Group’s key foundations of high volume, low cost,
responsible business and operational excellence enable our price leadership. South Africa also hosts
the Massmart Corporate Office.

https://corporate.walmart.com/about/south-africa
https://corporate.walmart.com/our-story/our-business/international/africa

Canada- We’re intentional at Walmart Canada about helping people save money and live better
through our commitments to creating opportunity, prioritizing environmental sustainability, and
lifting up the communities we serve.
Walmart Canada
Walmart Canada was established in 1994 and is headquartered in Mississauga, Ontario.

Walmart is honored to be one of Canada’s largest employers, operating Walmart Supercentres,

Walmart discount stores and distribution centers. And we continue to grow services including
contactless pay, online shopping, home delivery, and pickup at stores and other locations. Walmart
Canada helps move the economy forward by working with more than 2,200 Canadian suppliers.
Through this, we’re playing a role in creating jobs and opportunities for people of all backgrounds and
suppliers of all sizes, helping strengthen communities across the country.

President & CEO: JP Suarez

Canada
Walmart Canada was established in 1994 and is headquartered in Mississauga, Ontario.

Walmart is honored to be one of Canada’s largest employers, operating Walmart Supercentres,

Walmart discount stores and distribution centers. And we continue to grow services including
contactless pay, online shopping, home delivery, and pickup at stores and other locations. Walmart
Canada helps move the economy forward by working with more than 2,200 Canadian suppliers.
Through this, we’re playing a role in creating jobs and opportunities for people of all backgrounds and
suppliers of all sizes, helping strengthen communities across the country

https://corporate.walmart.com/about/canada
https://corporate.walmart.com/about#our-supply-chain
Central America- Walmart’s commitment across Central America remains rooted in the areas of
creating economic opportunity, increasing sustainability, and supporting the local community.

Our Business
Walmart entered the region in 2005 and became Walmart Centroamerica in 2006. In 2009, Walmart
Mexico (a publicly traded company) acquired Walmart's operations in Central America and in 2010,
Walmart Mexico became Walmart de Mexico y Centroamerica. The headquarters are in San Jose,
Costa Rica.

CEO: Flavio Cotini

https://corporate.walmart.com/our-story/our-business/international/central-america

Chile- Walmart Chile strives to improve quality of life for our associates, our customers and the
communities we serve. Walmart Chile is personally invested in the local issues that matter most to
our customers.

Our Business
Walmart Chile
Walmart Chile is a leader in Chile’s supermarket industry with its multi-format strategy that best
caters to the needs of customers, no matter where they are in the country, fulfilling the mission to
save people money, so they can live better.

We have defined an investment plan of $150 million over the next 5 years, aimed at developing new
capabilities to better meet the needs of the omnichannel customer.

President & CEO: Gonzalo Gebara

Chile
In 2009, Walmart acquired a majority in Distribución y Servicio D&S S.A., Chile's leading food retailer.
With headquarters in Santiago, Walmart Chile operates several supermarket formats including Lider,
Express de Lider, SuperBodega aCuenta and Central Mayorista. Additionally, customers can order
products online for delivery or pickup at lider.cl.

https://corporate.walmart.com/about/chile

China- Walmart has helped pioneer retail innovations in China for 25 years. As we usher in a new era
of omnichannel convenience, we remain committed to operating responsibly and helping create
better lives for our associates and customers in the communities where we operate.

Our Business
Walmart China
Walmart has been at the forefront of retail modernization in China since 1996, when we opened a
hypermarket and Sam’s Club in Shenzhen. We now serve communities nationwide as a leader in
omnichannel retail. We delight customers through nearly 400 stores and clubs as well as multiple e-
commerce platforms. Walmart China focuses on nurturing local talent and diversity. Chinese
associates make up 99.9% of the total workforce. All stores and clubs are managed by local talents.
Women make up more than half of the management at all levels.

Walmart is known in China for its innovation. Walmart China was one of the first to roll out a
smartphone app mini-program that customers can use in store for scan-and-go as well as for online
shopping and delivery tracking. Another innovation is the Walmart Daojia mini-program that enables
all hypermarkets nationwide to offer one-hour delivery and next-day city-wide delivery. Walmart
China also launched Cloud Depots to provide one-hour delivery service in areas beyond the reach of a
physical Sam’s Club. We also continue to develop cutting-edge retail in partnership with tech startups.

President & CEO: Xiaojing Christina Zhu

China
Walmart has been active in China’s fast-growing retail environment since 1996. We offer customers
an outstanding omnichannel experience that encompasses more than 400 Walmart and Sam’s Club
outlets nationwide and multiple e-commerce channels. We also provide a wealth of opportunities to
associates, suppliers and distribution partners and support local communities.

https://corporate.walmart.com/about/china

India- Walmart is committed to a future where retail in India is a mix of shopping experiences that
best serve Indian consumers, suppliers, producers, and retailers. We are building out a holistic
ecosystem that includes a wholesale cash-and-carry business, eCommerce platforms, a payments and
financial services platform, as well as logistics and supply chain capabilities – strong local businesses
that are powered by Walmart.

Our Business
Flipkart Group
The Flipkart Group is one of India's digital commerce leaders and includes group companies Flipkart,
Flipkart Wholesale and Myntra. Since launching in 2007, Flipkart has enabled millions of consumers,
sellers, merchants, and small businesses to be a part of India's eCommerce revolution. It has a
registered customer base of over 350 million and offers upwards of 150 million products across more
than 80 categories.

The company’s efforts to democratize eCommerce in India by driving access and affordability and
delighting customers have inspired many industry firsts, empowered generations of entrepreneurs
and MSMEs, and helped create lakhs of jobs across the ecosystem. The launch of the Flipkart
Wholesale digital marketplace in July 2020 is a testament to the company’s commitment to accelerate
the growth of kiranas and MSMEs in India. In April 2021, Flipkart acquired Cleartrip, a leading online
travel technology company.

Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns –
customer-centric innovations that have made online shopping more accessible and affordable for
millions of Indians. Together with Myntra, which holds a prominent position in the online fashion
market, the Flipkart Group will continue to steer the transformation of commerce in India through
technology.

Flipkart Group President and CEO: Kalyan Krishnamurthy

https://corporate.walmart.com/our-story/our-business/international/walmart-india

Mexico- Walmart Mexico is bringing together stores, products and services to meet and anticipate
customers’ needs in a rapidly changing local retail market—while leading Mexico’s digital revolution.
Through investments in infrastructure to support omnichannel growth, by implementing technology
like in-store digital kiosks that allow customers to access a vast assortment of products online and
growing the availability of on-demand grocery delivery, Walmart of Mexico is making life easier for
customers and helping them save money at the same time.

Our Business
Walmart de México
Walmart's first store outside the United States opened in Mexico in 1991 - a Sam's Club in Mexico
City. In 1997, Walmart acquired a majority position in Cifra, and in 2000 the name changed to
Walmart de México. Walmart Mexico is also a publicly traded company on the Mexican Stock Market
known as Walmex.

In 2021, Walmart Mexico turned 30 years old and currently operates Walmart hypermarkets, Bodega
Aurrera discount stores, Superama supermarkets, Walmart Express supermarkets, and Sam’s Clubs.
These formats are uniquely positioned to offer customers nationwide a local shopping experience that
meets their needs like low prices, large assortment and high quality of products, and close proximity
to customers’ homes. Our stores across Mexico and Central America offer a variety of ways for
customers to shop conveniently including home delivery and pickup services in many of its locations.

Walmart de México y Centroamérica President & CEO: Guilherme Loureiro

Mexico
Walmart Mexico is bringing together stores, products and services to meet and anticipate customers’
needs in a rapidly changing local retail market—while leading Mexico’s digital revolution. Through
investments in infrastructure to support omnichannel growth, by implementing technology like in-
store digital kiosks that allow customers to access a vast assortment of products online and growing
the availability of on-demand grocery delivery, Walmart of Mexico is making life easier for customers
and helping them save money at the same time.

https://corporate.walmart.com/about/mexico

Walmart U.S.
As one of the world's largest brick-and-mortar retailers, we are also one of the fastest growing and
most dynamic e-commerce organizations. With 90% of the U.S. population living within 10 miles of
our stores, we're primed to combine our physical locations with our e-commerce business to offer a
level of convenience never before seen. We're creating an experience that lets customers shop
anytime, anywhere — delivering exactly what they want, when they want it.

Our Supply Chain

Distribution Centers
Walmart's 210 distribution centers are hubs of activity for our business. Our distribution operation is
one of the largest in the world servicing stores, clubs and direct delivery to customers. Walmart's
transportation has a fleet of 9,000 tractors, 80,000 trailers and more than 11,000 drivers.

The distribution center network ships general merchandise and dry groceries along with other
specialty categories to our consumers daily.
There are six disaster distribution centers, strategically located across the country and stocked to
provide rapid response to struggling communities in the event of a natural disaster.
Each distribution center is more than 1 million square feet in size and employs 600+ personnel
unloading and shipping over 200 trailers daily.
Every distribution center supports 90 to 100 stores in a 150+ mile radius.

We are continuing to create solutions that gets products on shelves even faster, but also makes
warehouse work easier on our associates. Since 2017, we’ve worked with Symbotic to optimize our
systems and transform our supply chain. While this technology works to sort, store, retrieve and pack
freight onto pallets, it also provides an opportunity to train our associates on how to use this new
equipment, developing new skills and preparing them for jobs in the future. We’ve also rolled-out a
high-tech consolidation center in Colton, California, that will enable three times more volume to flow
through the center. We’re continuing to use technology to transform the way we work and lead our
business into the future.

Our Fleet
Walmart is able to move goods to and from distribution centers because we maintain a private fleet
of trucks and a skilled staff of truck drivers. We think our team of drivers is the best in the world.
They're part of one of the largest and safest fleets, and every year they drive 1.1 billion miles to make
millions of deliveries to our stores and clubs. Each driver averages around 100,000 miles annually-
that's like driving around the world 4 times!

Together with our truck drivers, we're constantly working to ensure that we're moving merchandise
in responsible, sustainable ways. Drivers follow the most efficient routes to their destinations and
work to minimize the number of "empty miles" they drive. This way, we use less fuel, we drive fewer
miles and we maximize the merchandise we deliver while minimizing our environmental impact.