HOME DEPOT : ANNUAL MEETING OF SHAREHOLDERS PRESENTATION

2020 Annual Shareholder Meeting

Thursday May 21, 2020

THE HOME DEPOT

2020 Annual Shareholder Meeting

Our Board of Directors

2THE HOME DEPOT

Agenda

• Welcome to Shareholders
• Call to Order of Meeting
• Consideration of Company and Shareholder Proposals
• • The proposals will be considered in the order presented in the Proxy Statement
• Report of Preliminary Voting Results
• Adjournment of Meeting
• Report on the Business
• Question and Answer Session
• Closing Remarks

THE HOME DEPOT

2020 Annual Shareholder Meeting

Thursday May 21, 2020

THE HOME DEPOT

2020 Annual Shareholder Meeting

Forward-Looking Statements

Certain statements contained in this presentation constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the impact on our business, operations and financial results of the COVID-19 pandemic (which, among other things, may affect many of the items listed below); the demand for our products and services; net sales growth; comparable sales; effects of competition; implementation of store, interconnected retail, supply chain and technology initiatives; inventory and in-stock positions; state of the economy; state of the housing and home improvement markets; state of the credit markets, including mortgages, home equity loans and consumer credit; impact of tariffs; issues related to the payment methods we accept; demand for credit offerings; management of relationships with our associates, suppliers and vendors; international trade disputes, natural disasters, public health issues (including pandemics and related quarantines, shelter-in-place orders, and similar restrictions), and other business interruptions that could disrupt supply or delivery of, or demand for, the Company's products or services; continuation of share repurchase programs; net earnings performance; earnings per share; dividend targets; capital allocation and expenditures; liquidity; return on invested capital; expense leverage; stock-based compensation expense; commodity price inflation and deflation; the ability to issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries, claims and litigation; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of regulatory changes; store openings and closures; guidance for fiscal 2020 and beyond; financial outlook; and the integration of acquired companies into our organization and the ability to recognize the anticipated synergies and benefits of those acquisitions.

Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties - many of which are beyond our control, dependent on the actions of third parties, or are currently unknown to us - as well as potentially inaccurate assumptions that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include, but are not limited to, those described in Item 1A, "Risk Factors," and elsewhere in our Annual Report on Form 10-K for our fiscal year ended February 2, 2020 and in our subsequent Quarterly Reports on Form 10-Q. Forward- looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our periodic filings with the Securities and Exchange Commission.

5THE HOME DEPOT

Craig Menear

Chairman, CEO and President

2020 Annual Shareholder Meeting

THE HOME DEPOT

2020 Annual Shareholder Meeting

Committed to Culture & Values

Our culture and values have proven invaluable throughout our history and this pandemic is no exception. Our commitment to Take Care of our People, Do the Right Thingand Give Backhas guided our decisions during this challenging time.

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2020 Annual Shareholder Meeting

Our Objectives

Safety &		Provide
Wellbeing		Essential Products

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2020 Annual Shareholder Meeting

Store & Associate Safety

Limiting the

number of

customers

allowed into

stores at one time

Expanding delivery options on orders made at

homedepot.com

Closing stores early to allow more time for sanitizationand restocking

Promoting socialand physical distancingin stores by marking floors, adding signage and installed plexiglass at registers

9THE HOME DEPOT

2020 Annual Shareholder Meeting

Taking Care of Our People

Double Pay

for overtime hours worked

by hourly associates

Weekly

Bonuses

For hourly associates in

stores and distribution centers

Extended

Dependent care benefits

and waived related co-pays

Enhanced

paid time off for all full-time and

part-time hourly associates to be

used any time in 2020 and paid

out at year-end if not used

10THE HOME DEPOT

2020 Annual Shareholder Meeting

Taking Care of Our Communities

Voluntarily froze pricing

nationwide across product categories in high demand

Prioritized order

fulfillment for hospitals, healthcare providersand first responders

Donated millions ofdollars

in personal protective

equipment (PPE) and other

products to hospitals, healthcare providers and first responders

11THE HOME DEPOT

2020 Annual Shareholder Meeting

One Home Depot Investments

ASSOCIATES	STORES	PRODUCT
& INNOVATION

INTERCONNECTED &	PRO & SERVICES	SUPPLY CHAIN
DIGITAL EXPERIENCE	& DELIVERY

"The Home Depot's distinct competitive advantages and overarching benefits of

an interconnected, One Home Depotstrategy give us the ability to quickly

adaptto shifts in consumer needs, preferences and behaviors."

12THE HOME DEPOT

2020 Annual Shareholder Meeting

To our Associates…

THANK YOU!

13THE HOME DEPOT

Richard McPhail

Executive Vice President & Chief Financial Officer

2020 Annual Shareholder Meeting

THE HOME DEPOT

2020 Annual Shareholder Meeting

Investments to Extend Our Advantages

Multi-Year Investment Program

~$5.0BINVESTMENTSTORESIN OUR

INVESTMENT IN OUR

~$2.5BTECHNOLOGY

INVESTMENT IN OUR

~$1.2BSUPPLY CHAIN

15THE HOME DEPOT

2020 Annual Shareholder Meeting

Fiscal 2019 Financial Highlights

Sales ($B)	1.9%
	$110.2B
$108.2B
2018	2019

Net Earnings ($B) 0.9%

	$11.2B
$11.1B
2018	2019

Diluted EPS	5.3%
	$10.25
$9.73
2018	2019

Note: Fiscal 2018 includes 53 weeks while fiscal 2019 includes 52 weeks.

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2020 Annual Shareholder Meeting

Q1 2020 Financial Highlights

Total Sales: $28.3 Billion

Associate Support: ~$850 Million

EPS: $2.08 per diluted share

17THE HOME DEPOT

2020 Annual Shareholder Meeting

Strong Balance Sheet with Robust Liquidity Profile

Q1 Liquidity: ~$21 Billion

$8.7B

in Cash

$6.5B

in Credit Facilities

$6.0B

Commercial Paper

Program

In Response to COVID-19 Pandemic:

11	Temporarily Suspended Share Repurchases
21	Doubled Commercial Paper Program
31	Expanded Revolver Capacity to $6.5B
41	Executed $5.0B Debt Issuance

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2020 Annual Shareholder Meeting

Annual Dividend Paid

Announced 10% Increase in Dividend in February

1) Forecast - Based on current quarterly dividend annualized. Subject to approval by the Board of Directors.

19THE HOME DEPOT

Craig Menear

Chairman, CEO and President

2020 Annual Shareholder Meeting

THE HOME DEPOT

Question & Answer Session

THE HOME DEPOT

2020 Annual Shareholder Meeting

Thursday May 21, 2020

THE HOME DEPOT