Wal-Mart (WMT)

(State or Other Jurisdiction

of Incorporation)

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File Number)

(IRS Employer

Identification No.)

Financial measures presented on a constant currency basis (each, a “Constant Currency Measure”). Constant Currency Measures are calculated by translating the results of our Walmart International operating segment (“Walmart International”) for a fiscal period in the local currencies in which Walmart International operates into U.S. dollars using the currency exchange rates used to translate the similar results of Walmart International for the prior year comparable period into U.S. dollars to report those prior period results in our consolidated financial statements.

Our total U.S. comparable store sales and the comparable club sales of our Sam’s Club’s operating segment (“Sam’s Club”) for the thirteen-week and thirty-nine-week periods ended October 28, 2011 and October 29, 2010 calculated excluding the fuel sales of Sam’s Club for such periods.

The net sales and operating income of Sam’s Club for the three months ended October 31, 2011, excluding the fuel sales of Sam’s Club for that three month period, and the percentage increase in the net sales and operating income of Sam’s Club for the three months ended October 31, 2011, excluding the fuel sales of Sam’s Club for that three month period, over the net sales and operating income, respectively, of Sam’s Club for the three months ended October 31, 2010, excluding the fuel sales of Sam’s Club for that three month period.

We are required to translate Walmart International’s operating results as stated in local currencies into U.S. dollars to report our consolidated results of operations in accordance with generally accepted accounting principles as in effect in the United States. Period over period comparisons of our consolidated results of operations can be affected by the differences between currency exchange rates in the prior fiscal period to which the comparison is made and the currency exchange rates in the current fiscal period as reflected in our consolidated results of operations reported in U.S. dollars, making an investor’s assessment of the underlying performance of Walmart International and its effect on total company underlying performance for the current fiscal period more difficult. The presentation of the Constant Currency Measures permits investors to understand important aspects of Walmart International’s underlying performance in the current fiscal period without the effect of any period to period fluctuations in applicable currency exchange rates and how that performance would have affected our consolidated results of operations in the current fiscal period and in period over period comparisons had currency exchange rates remained constant since the comparable prior year period.

The presentation of our total U.S. comparable store sales, Sam’s Club’s comparable club sales, the net sales and operating income of Sam’s Club and the period over period percentage increase in the net sales and operating income of Sam’s Club, calculated, in each case, excluding the fuel sales of Sam’s Club, permits investors to understand the effect of such fuel sales, which are affected by the volatility of fuel prices, on our total U.S. comparable store sales, on Sam’s Club’s comparable club sales and on Sam’s Club’s net sales and operating income for the periods presented.