Walmart — Feb 19, 2026 release

• Operating income up $0.8 billion, or 10.8%; up 10.5% adjusted (cc) 1 , growing faster than sales • Adjusted EPS 1 of $0.74 excludes the impact, net of tax, from a net loss of $0.21 on equity and other investments Full Year Highlights • Revenue of $713.2 billion, up 4.7%, or 5.1% (cc) 1 • Operating income up $0.5 billion or 1.6%; up 5.4% adjusted (cc) 1 , growing faster than sales • Global advertising business 3 grew 46% to nearly $6.4 billion, including VIZIO • ROA at 8.2%; ROI at 15.1% 1 , negatively affected ~35 bps from discrete items 4 • Global inventory up 4.3%; up 2.6% (cc) 5 • Increased annual dividend to $0.99 per share 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Comp sales for the 13-week period ended January 30, 2026 compared to the 13-week period ended January 31, 2025 and excludes fuel. See Supplemental Financial Information for additional information. 3 Our global advertising business is recorded in either net sales or as a reduction to cost of sales, depending on the nature of the advertising arrangement. 4 Represents items which were adjusted from operating income in the current and prior year. 5 Inventory grew 4.3% on a reported basis and grew 2.6% in constant currency, excluding a ~$0.9 billion foreign currency impact. “cc” - constant currency Key Financial Metrics Dollars in billions, except per share data. Dollar and percentage changes may not recalculate due to rounding. Charts may not be to scale. Balance Sheet and Liquidity • Cash and cash equivalents of $10.7 billion • Total debt of $51.5 billion 2 • Operating cash flow of $41.6 billion, an increase of $5.1 billion • Free cash flow 1 of $14.9 billion, an increase of $2.3 billion • Repurchased 85.0 million shares YTD, or $8.1 billion 3 • Inventory of $58.9 billion, an increase of