a. Choose one of the attached deals IPA participated on and calculate the current price of each tranche. For example, Walmart has 5 tranches in this deal, so you'd do 5 calculations following the methodology you learned above. i. You can calculate the current yield to maturity based on the format of the UST rate aligned with each tenor i.e. (use bloomberg to find) + the stated spread to benchmark treasury in the attached term sheets. Term sheets outline the details of a bond offering ii. Describe your rationale and label the dates when you pull your UST yields (US Bonds Section below based on tenor - i.e. due 2033 is a 10 YR security) UST 4.625% due March 15, 2026 (2026 Notes) UST 3.625% due March 31, 2028 (2028 Notes) UST 3.625% due March 31, 2030 (2030 Notes) UST 3.500% due February 15, 2033 (2033 Notes) UST 4.000% due November 15, 2052 (2053 Notes) +30 basis points ( 2026 Notes) +47 basis points ( 2028 Notes) +60 basis points ( 2030 Notes) +70 basis points (2033 Notes) +90 basis points (2053 Notes) 102153/4;3.716% (2026 Notes) 100221/4;3.471% (2028 Notes) 10106;3.432% (2030 Notes) 10026+;3.400% (2033 Notes) 10629+;3.617% (2053 Notes) 4.016% (2026 Notes) 3.941% (2028 Notes) 4.032% (2030 Notes) 4.100% (2033 Notes) 4.517% (2053 Notes) Interest will accrue from April 18, 2023. Interest on the 2026 Notes will be payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2023. Interest on the 2028 Notes will be payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2023. Interest on the 2030 Notes will be payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2023. Interest on the 2033 Notes will be payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2023. Interest on the 2053 Notes will be payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2023. 2 FINAL TERM SHEET Dated April 12, 2023 WALMART INC. $5750,000,0004.000% Notes Due 2026 $50,000,0003.900% Notes Due 2028 $500,000,0004.000% Notes Due 2030 $1,500,000,0004.100% Notes Due 2033 $1,500,000,0004.500% Notes Due 2053 Name of Issuer: Title of Securities: Aggregate Principal Amount: Issue Price (Price to Public): Maturity Date: Coupon (Interest Rate): Walmart Inc. ("Walmart" or the "Company") 4.000\% Notes Due 2026 ("2026 Notes") 3.900% Notes Due 2028 ("2028 Notes") 4.000% Notes Due 2030 ("2030 Notes") 4.100\% Notes Due 2033 ("2033 Notes") 4.500% Notes Due 2053 ("2053 Notes" and, collectively with the 2026 Notes, 2028 Notes, 2030 Notes and 2033 Notes, the "Notes") $750,000,000 (2026 Notes) $750,000,000 (2028 Notes) $500,000,000 (2030 Notes) $1,500,000,000 (2033 Notes) $1,500,000,000 (2053 Notes) 99.956% of aggregate principal amount (2026 Notes) 99.816% of aggregate principal amount (2028 Notes) 99.807% of aggregate principal amount (2030 Notes) 100.000% of aggregate principal amount (2033 Notes) 99.723% of aggregate principal amount (2053 Notes) April 15, 2026 (2026 Notes) April 15, 2028 (2028 Notes) April 15, 2030 (2030 Notes) April 15, 2033 (2033 Notes) April 15, 2053 (2053 Notes) 4.000% (2026 Notes) 3.900% (2028 Notes) 4.000% (2030 Notes) 4.100% (2033 Notes) 4.500% (2053 Notes)