The Walmart 401(k) Plan

1 The Walmart 4 01( k ) PlanWHERE CAN I FIND? Walmart 401(k) Plan eligibility3 Enrolling in the Plan3 Your Walmart 401(k) Plan accounts4 Making a rollover from a previous employer s plan or IRA4 Making contributions to Your 401(k) Account5 Walmart s contributions to your Company Match Account7 Investing your accounts8 More about owning Walmart stock9 Account balances and statements10 Receiving a payout while working for Walmart10If you die: your designated beneficiary12If you get divorced13If you leave Walmart13If you leave and are rehired by Walmart14 The income tax consequences of a payout15 Filing a Walmart 401(k) Plan claim16 Administrative information16 Special tax notice addendum18 The Walmart 401(k) Plan2 The Walmart 401(k) PlanTHE Walmart 401(K) PLAN RESOURCESFind What You NeedOnlineOther ResourcesEnroll in or change your 401(k)

2 Contribution and your catch-up contributionGo to the WIRE, or the Plan s website at the Customer Service Center at 888-968-4015 Request a rollover packet to make a rollover contribution Get a fee disclosure sheet Get information about your Plan accounts Get a copy of your quarterly statement Request a hardship withdrawal or a withdrawal after you reach age 59 Change your investment fund choices Request a payout when you leave Walmart Get information about your Plan investment options Request a withdrawal of your rollover contributions Request a loan from your Plan accountGo to the Customer Service Center at 888-968-4015 Designate a beneficiaryGo to the WIRE or you need to know about the Walmart 401(k) Plan You are eligible to make your own contributions to the Plan as soon as administratively feasible after your date of hire is entered into the payroll system.

3 You can contribute from 1% to 50% of each paycheck to the Plan. You will begin receiving matching contributions on the first day of the calendar month following your first anniversary of employment with Walmart if you are credited with at least 1,000 hours of service during your first year and you are contributing to Your 401(k) Account. (Matching contributions will not be made with respect to contributions you make before you become eligible for matching contributions.) The matching contribution will be a dollar-for-dollar match on each dollar you contribute to the Plan after you become eligible for matching contributions, up to 6% of your eligible annual pay. You will always be 100% vested in the money you contribute to Your 401(k) Account and the money Walmart contributes to your Company Match Account. You choose how to invest all contributions to your account, including your Company Match Account.

4 If you do not elect how your current contributions to the Plan will be invested, they will be automatically invested in the Plan s default investment alternative, currently the myRetirement Funds. You pay no federal income tax on contributions or any investment earnings until you receive a payout from the Plan. You can access and monitor your account any time at Beginning February 1, 2016, you can withdraw your rollover contributions at any time. You may also request a loan from your Plan account. Loans are subject to certain requirements outlined later in this is a summary of benefits offered under the Plan as of October 1, 2015. Should any questions ever arise about the nature and extent of your benefits, the formal language of the Plan document, not the informal wording of this summary, will Associate Benefits Book | Questions?

5 Log on to or the WIRE, or call Benefits Customer Service at 800-421-1362 The Walmart 401(k) Plan3 Walmart 401(k) Plan eligibilityASSOCIATES WHO ARE ELIGIBLE TO PARTICIPATE IN THE PLANAll associates of Wal- mart stores , Inc. or a participating subsidiary are eligible to participate in the Plan, except: Leased employees; nonresident aliens with no income from sources; independent contractors or consultants; Anyone not treated as an employee of Walmart or its participating subsidiaries; Associates covered by a collective bargaining agreement, to the extent that the agreement does not provide for participation in this Plan; and Associates represented by a collective bargaining representative after Walmart has negotiated in good faith to impasse with the representative on the question of purposes of this Summary Plan Description, all participating subsidiaries are referred to as Walmart .

6 WHEN PARTICIPATION FOR SALARY DEFERRAL PURPOSES BEGINSE ligible associates may begin making their own contributions to the Plan as soon as administratively feasible after their date of hire is entered into the payroll system. To begin making contributions to the Plan, you can enroll on , the WIRE, or through (see Enrolling in the Plan later in this summary).WHEN PARTICIPATION FOR MATCHING CONTRIBUTION PURPOSES BEGINS If you are an eligible associate, you will begin receiving matching contributions on the first day of the calendar month following your first anniversary of employment with Walmart if you are credited with at least 1,000 hours of service during the first year and are contributing to Your 401(k) Account. (Matching contributions will not be made with respect to contributions you make before you become eligible for matching contributions.)

7 For example, if your date of hire was December 15, 2014 and you are credited with 1,095 hours by December 15, 2015 (your first anniversary), then you will begin receiving matching contributions on January 1, 2016 with respect to any contributions you make to the Plan on or after that you are not credited with 1,000 hours of service during that first year, you will be eligible to receive matching contributions on any contributions you make to the Plan on or after the February 1 after the first Plan year (February 1 January 31) in which you are credited with at least 1,000 hours of service. For example, if your date of hire is December 15, 2014 and you are credited with only 595 hours by December 15, 2015 (your first anniversary), but you work 1,095 hours during the February 1, 2015 January 31, 2016 plan year, you will begin receiving matching contributions on February 1, 2016 with respect to any contributions you make to the Plan on or after that date.

8 HOW HOURS OF SERVICE ARE CREDITED UNDER THE PLANFor hourly associates, hours of service are credited as follows: All eligible hours, including overtime hours, worked by hourly associates for Walmart or any subsidiary are counted toward the 1,000-hour requirement. Paid vacation, sick time and personal time are also counted. Hours are credited for the Plan year worked. Before February 1, 2015, hours for a payroll period that overlaps years are prorated between the two years. On and after February 1, 2015, actual hours worked for each day are counted. For salaried associates and truck drivers, hours of service are credited as follows: Salaried associates and truck drivers are credited with 190 hours per month for each month in which they work at least one hour for Walmart or a subsidiary. In general, you must work at least six months of the Plan year to have 1,000 hours credited for the year.

9 (Vacation pay after you leave Walmart will not give you an additional 190 hours of credit.)If you became a Walmart associate as the result of Walmart s acquisition of your prior employer, special service crediting rules may apply to the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA), veterans who return to Walmart after a qualifying deployment may be eligible to have their qualified military service considered toward their hours of service under the Plan. If you think you may be affected by this rule, call Benefits Customer Service at 800-421-1362 for more in the PlanShortly after you become eligible for participation ( , shortly after your date of hire), you will receive an enrollment packet at your home address on file. This packet tells you how you can make contributions from your pay on a pretax basis into Your 401(k) Account and explains how you can direct 2016 Associate Benefits Book | Questions?

10 Log on to or the WIRE, or call Benefits Customer Service at 800-421-1362 The Walmart 401(k) Plan4the investment of your Plan funds from among a menu of investment options with varying investment objectives and associated risks. Because the Plan is intended to be an important source for your financial security at retirement, you should read all information pertaining to the Plan carefully, and consult with your family, tax and financial advisors before making any making elections regarding your contributions to the Plan, keep in mind that you will not be eligible to receive matching contributions on your contributions until you satisfy the eligibility requirements for matching contributions, as explained above. Once you satisfy the matching contribution eligibility requirements, Walmart will match all of your subsequent contributions dollar-for-dollar up to 6% of eligible annual pay.