BUENOS AIRES, ARGENTINA, and BENTONVILLE, ARKANSAS, November 6 — Walmart Inc. (“Walmart”) has agreed to sell its business in Argentina to Grupo de Narváez, a Latin American group. The new ownership, which has retail operations in Argentina, Ecuador, and Uruguay brings strong local expertise that will position the business to thrive. The deal marks an exciting new chapter in the business’s 25-year history. Walmart will continue to support the business through transition services and sourcing agreements under the new ownership, however, it will not retain an equity stake. Walmart Argentina has demonstrated both incredible resilience and exciting innovation throughout the COVID-19 pandemic, significantly expanding its omnichannel capabilities to serve a broader base of Argentinians. Under Fernando Minaudo, Grupo de Narváez CEO, the new owners will continue to drive long-term growth for the business in Argentina’s dynamic retail environment. The company will remain one of Argentina’s largest employers and will continue to work closely with suppliers to provide the best value for customers, maintaining its commitment to supporting domestic suppliers and small businesses. Dolores Fernandez Lobbe will continue to support the business through a transition period, after which she will move into a new role within Walmart. Walmart Argentina started operating in 1995, with the launch of its first shop in Avellaneda. Since that time, the business has grown to more than 90 stores and 9,000 associates under the Chango Más, Mi Chango Más, Walmart Supercenter and Punto Mayorista banners. The Chango Más, Mi Chango Más, and Punto Mayorista banners will continue to serve customers in Argentina, following the transaction. New ownership will bring strong local expertise to drive long-term growth.