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Advent Closes Investment in 80 Percent Stake in Walmart Brazil

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Walmart Inc. to Retain 20 Percent Stake

Walmart Inc. (NYSE:WMT) and Advent International announced the closing
of Advent's previously announced investment in an 80 percent equity
stake in Walmart Brazil. Walmart Inc. has retained a 20 percent stake in
the business.

Advent is a global private equity fund with a strong local presence and
extensive experience in retail investment both in Brazil and
internationally. Since the opening of its São Paulo office in 1997, the
fund has invested in 30 Brazilian companies from various sectors. Advent
has been active in the retail, consumer and leisure segments worldwide
for 28 years and has completed 75 investments in 22 countries.

About Walmart

Walmart Inc. (NYSE:WMT) helps people around the world save money and
live better - anytime and anywhere - in retail stores, online, and
through their mobile devices. Each week, nearly 270 million customers
and members visit our more than 11,700 stores under 65 banners in 28
countries and eCommerce websites. With fiscal year 2018 revenue of
$500.3 billion, Walmart employs approximately 2.3 million associates
worldwide. Walmart continues to be a leader in sustainability, corporate
philanthropy and employment opportunity. Additional information about
Walmart can be found by visiting http://corporate.walmart.com,
on Facebook at http://facebook.com/walmart and
on Twitter at http://twitter.com/walmart.

About Walmart Brazil

Having a presence in Brazil for the last 22 years, Walmart Brazil has
today 438 stores in 18 states, with 55,000 associates. In 2017, the
company's total sales were more than R$25 billion.

About Advent International

Founded in 1984, Advent International is one of the largest and most
experienced global private equity investors. The firm has invested in
over 330 private equity transactions in 41 countries and as of December
31, 2017, had $42 billion in assets under management. With offices on
four continents, Advent has established a globally integrated team of
over 190 investment professionals across North America, Europe, Latin
America and Asia. The firm focuses on investments in five core sectors,
including business and financial services; healthcare; industrial;
retail, consumer and leisure; and technology, media and telecom. After
more than 30 years dedicated to international investing, Advent remains
committed to partnering with management teams to deliver sustained
revenue and earnings growth for its portfolio companies. For more
information, visit www.adventinternational.com.

About Advent International in Brazil

Advent International has been present in Brazil for more than 20 years.
During this time, it has invested in 30 Brazilian companies, always with
a strategy focused on revenue growth and operational excellence.
Advent's Brazilian investments have included several retail companies
such as Dufry, the largest global travel retailer, Quero-Quero, Allied,
International Meal Company and Fortbras.

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