Wal Mart de Mexico B de C : 2020 Annual Report to the MSE

Ticker: WALMEX

Date: 2020-12-31

[411000-AR] Datos generales - Reporte Anual

Annual report:	Anexo N
Limited public offering:	No
Type of instrument:	Acciones
Foreing issuer:	No
Mentioning whether or not have collateral:	This element does not apply to WALMEX.

Detail the partial or total dependence:	No

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Ticker: WALMEX

Date: 2020-12-31

WAL-MART DE MÉXICO, S.A.B. DE C.V.

BLVD. MANUEL ÁVILA CAMACHO # 647, COLONIA PERIODISTA

ALCALDÍA MIGUEL HIDALGO, C.P. 11220 CIUDAD DE MÉXICO

TEL. [phone]

walmartmexico.com

walmex.mx

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Ticker: WALMEX

Date: 2020-12-31

Serie [Eje]	serie
Specification of the characteristics of outstanding securities [Abstract]
Clase	Common
Serie	From the same series
Tipo	No-par value
Número de acciones	17,461,402,631
Bolsas donde están registrados	Bolsa Mexicana de Valores, OTCQX Market Tier
Clave de pizarra de mercado origen	WALMEX
Tipo de operación
Observaciones

Ticker:

WALMEX

The mention that the values of the issuer are registered:

Los títulos se encuentran inscritos en el Registro Nacional de Valores

Article 86 legend of the LMV:

La inscripción en el Registro Nacional de Valores no implica certificación sobre la bondad de los valores, solvencia de la emisora o sobre la exactitud o veracidad de la información contenida en este Reporte anual, ni convalida los actos que, en su caso, hubieren sido realizados en contravención de las leyes.

Annual report CUE legend:

Reporte anual que se presenta de acuerdo con las disposiciones de carácter general aplicables a las emisoras de valores y a otros participantes del mercado

Period representing:

2020-01-01 to 2020-12-31

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Ticker:	WALMEX	Date: 2020-12-31
Índice
[411000-AR]Datos generales - Reporte Anual............................................................................................................	1
[412000-N]Portada reporte anual..................................................................................................................................	2
[413000-N]Información general .....................................................................................................................................	6
Glossary of terms and definitions:..............................................................................................................................	6
Executive Summary: ....................................................................................................................................................	8
Risk factor's: ................................................................................................................................................................	62
Other values: ...............................................................................................................................................................	70
Significant changes to the rights of securities registered: ....................................................................................	70
Use of proceeds, if any.:............................................................................................................................................	70
Public documents: ......................................................................................................................................................	71
[417000-N]La emisora...................................................................................................................................................	72
History and development of the issuer: ...................................................................................................................	72
Business Overview:....................................................................................................................................................	73
Main activity:................................................................................................................................................................	74
Distribution channels:.................................................................................................................................................	76
Patents, licenses, trademarks and other contracts: ..............................................................................................	77
Main customers:..........................................................................................................................................................	78
Applicable law and tax situation: ..............................................................................................................................	79
Human Resources:.....................................................................................................................................................	80
Environmental performance:.....................................................................................................................................	93
Market Information: ..................................................................................................................................................	118
Corporate structure: .................................................................................................................................................	120
Description of key assets: .......................................................................................................................................	121
Judicial, administrative or arbitration proceedings:..............................................................................................	122
Capital shares: ..........................................................................................................................................................	122
Dividends: ..................................................................................................................................................................	123
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Ticker:	WALMEX	Date:	2020-12-31
[424000-N]Información financiera .............................................................................................................................	125
Financial information by business line:..................................................................................................................	127
Relevant credit report:..............................................................................................................................................	129
Comments and management analysis on operating results and issuer financial statement:........................	129
Operation results: .....................................................................................................................................................	130
Financial position, liquidity and capital resources:...............................................................................................	143
Internal control: .........................................................................................................................................................	146
Estimates, critical accounting provisions or reserves:.........................................................................................	147
[427000-N]Administración ..........................................................................................................................................	148
External auditors of the administration: .................................................................................................................	148
Transactions with related parties: ..........................................................................................................................	148
Administrators and shareholders: ..........................................................................................................................	150
Association and other agreements: .......................................................................................................................	165
[429000-N]Mercado de capitales...............................................................................................................................	180
Shareholding structure:............................................................................................................................................	180
Behavior of the share:..............................................................................................................................................	180
[432000-N]Anexos .......................................................................................................................................................	185

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