Walmart : ABN Holdings, LLC, Statement

During an announcement on April 6 unveiling plans for Walmart's new Walton Family Whole Health & Fitness, and the Child Care Center as part of its new home office, Steuart Walton and Tom Walton shared that their real estate holding company would purchase Walmart's existing home office buildings and nearby parcels of land.

The following statement provides additional information regarding the purchase of the existing home office property.

On April 5, Walmart entered into an agreement with ABN Holdings, LLC, for the sale of Walmart's existing Home Office properties and nearby parcels of land for approximately $60 million. Steuart L. Walton, a director of Walmart, and Thomas Walton, Steuart's brother, own all the equity interests in ABN Holdings, LLC.

Plans for the use of the properties has yet to be decided. Together with their real estate development company, Blue Crane, LLC, Steuart and Tom intend to create spaces that enhance the Northwest Arkansas community.

Under the terms of the property sale agreement, the closing for certain parcels of land, with the purchase price of $9 million, will occur in fiscal 2023. The closing for the remaining parcels of land, with an appraised purchase price at the time of the signing of the agreement of approximately $51 million, including Walmart's Home Office buildings, is expected to occur in fiscal 2025 or later when Walmart moves to its new Home Office facilities.

Walmart expects the sale of the initial properties closing in fiscal 2023 and the sale of the remainder of the properties closing in fiscal 2025 or later to result in a gain on sale to the company on a net basis at the time of each respective closing.