X0306 4 2016-12-14 0000104169 WAL MART STORES INC WMT 0001219112 WALTON S ROBSON 702 S.W. 8TH STREET BENTONVILLE AR 72716-0215 1 1 Common Stock 2016-12-14 4 J 0 2830000 0 D 149417519 I By Trust Common Stock 2016-12-14 4 J 0 1000000 0 A 4342603.6382 D Common Stock 2016-12-16 5 G 0 E 1000000 0 D 3342603.6382 D Common Stock 1415891131 I By Limited Liability Company The transaction is a distribution of 2,830,000 shares of Common Stock, for no consideration, by the Walton Family Holdings Trust (the "Trust") to certain beneficiaries of the Trust (the "Distribution"). The reporting person is a trustee of the Trust, the entity that owns 149,417,519 shares of Common Stock following the Distribution. The reporting person disclaims beneficial ownership of the reported securities held by the Trust except to the extent of his pecuniary interest therein. The transaction is the receipt of 1,000,000 shares of Common Stock, for no consideration, in the Distribution. On December 16, 2016, the reporting person made a charitable gift of 1,000,000 shares of Common Stock. The reporting person is a member of Walton Enterprises, LLC, the entity that owns 1,415,891,131 shares of Common Stock. The reporting person disclaims beneficial ownership of the reported securities held by such LLC except to the extent of his pecuniary interest therein. /s/ Jennifer F. Rudolph, by power of attorney 2016-12-16