August, 2016

This presentation may contain certain references concerning Wal-Mart de México S.A.B. de C.V.’s future performance that should be considered as good faith estimates made by the Company. These references are a reflection of Managements’ expectations about the Company and are based upon currently available data. Actual results are always subject to future events, risks and uncertainties, which could materially impact the Company’s actual performance.

Our strategy Grow earnings faster than sales leveraging expenses

Productivity loop

Double total sales in 10 years

~ CAGR +7 %

2014 Same StoreSales

NewStores

eCommerce 2024

~876

438

Operate for less Buy

for less

Sell for less

Grow sales

Mx$ Billion

Outpacing our total sales growth objective

10.1 8.3

9.8

12.9

Mexico CentralAmerica

Walmexconstantcurrency

Walmex

2015 (%)

8.3 7.3

8.2

11.0

Mexico CentralAmerica

Walmexconstantcurrency

Walmex

Jan - July 2016 (%)

Driven by same store sales Jan - July 2016 growth (%)

5.3 5.2

9.1

5.5

14.4

10.7

Mexico Central America

2015 2016 Two year stack

Mexico: SSS growth across all formats January - July 2016 (%)

9.1

Mexico Bodega Walmart Sam's Superama Suburbia

Increasingly outpacing ANTAD self-service

3.8 5.3

9.1

2015 2016 2 year stack

Antad self service ex Walmex

5.4

9.1

14.5

2015 2016 2 year stack

+160 bps

+380 bps

+ 540 bps

Walmex self-service & Sam’s

January - July SSS growth (%)

And also outpacing total ANTAD

5.9 6.6

12.5

2015 2016 2 year stack

Total Antad ex Walmex

5.4

9.1

14.5

2015 2016 2 year stack

+ 200 bps

Walmex self-service & Sam’s

January - July SSS growth (%)

Central America: SSS growth across all formats January – July 2016 (%)

5.5

Central America Bodega Supermarket Walmart

Central America: SSS growth across all countries

5.5

CentralAmerica

Costa Rica Guatemala El Salvador Honduras Nicaragua

Jan - Jul 2016 Growth (%)

Continue to drive same store sales growth

Clear value proposition by format

Drive sales growth, efficiencies and differentiation: • Price leadership • Wining in fresh • Driving private label • Pharmacy transformation

Accelerate new store openings through:

• Enhanced pipeline

• Streamlined processes

• Smaller, more efficient prototypes

Improve new strong performance

Disciplined new store growth

Become Mexico’s omnichannel leader

Be in businesses where we can win

Online grocery + GM Marketplace

1 Offer Mexico’s best omnichannel experience

Store + App at the center

2 Deliver profitable Orders

Mix, monetization, pick & pack, last-mile

3

An ambitious but feasible 3-year plan

2016 - 2017 2017 - 2018 2019

Foundations Operational excellence

Acceleration

We Operate for Less We Move for Less

We Buy for Less We Construct for Less

Reduce our cost base to reinvest in growth

Build strong foundations

Invest in logistic network and digital transformation

Strong cash generation

8.3

9.7 10.2

2Q14 2Q15 2Q16

12 months cash generation as a % of total revenues

Return excess cash to our shareholders

17.3

28.9 29.3

2014 2015 2016

(Mx$ billion)

4.5 5.5 3.7

32.2 24.3

Divestitures

Dividends

Yield

Our strategy Grow earnings faster than sales leveraging expenses

Productivity loop

Double total sales in 10 years

~ CAGR +7 %

2014 Same StoreSales

NewStores

eCommerce 2024

~876

438

Operate for less Buy

for less

Sell for less

Grow sales

Mx$ Billion