Acquisition of Walmart by Amazon Acquisition Structure Assumptions Acquisition Premium Equity Issuance Discount (to Current Price) 20% 5% % Debt Financing % Equity Financing 50% 50% Acquirer and Target Assumptions Share Price (S/sh.) Fully Diluted Shares Outstanding (MM) Cash and Cash Equivalents Total Debt Amazon Acquirer $3,099.40 518 $37,466 $91,401 Walmart Target $140.50 2,863 $16,906 $70,242 Transaction Costs Information Equity Financing Fees Debt Financing Fees Other Transaction Costs Target Debt Early Redemption Premium 5.5% 1.5% $3,000 3.0% 10 Review Later Total expected equity financing for Amazon's purchase of Walmart, at the assumed 50-50% equity and debt financing deal mix provided, is as follows: $241,356 $201,130 $268,024 $443,485