The Home Depot Announces Fourth Quarter and Fiscal 2021 Results;Increases Quarterly Dividend by 15 Percent;Provides Fiscal 2022 GuidanceATLANTA, February 22, 2022 -- The Home Depot , the world's largest home improvementretailer, today reported fourth quarter and fiscal 2021 results.Fourth Quarter 2021Sales for the fourth quarter of fiscal 2021 were 35.7 billion, an increase of 3.5 billion, or10.7 percent from the fourth quarter of fiscal 2020. Comparable sales for the fourth quarter offiscal 2021 increased 8.1 percent, and comparable sales in the U.S. increased 7.6 percent.Net earnings for the fourth quarter of fiscal 2021 were 3.4 billion, or 3.21 per diluted share,compared with net earnings of 2.9 billion, or 2.65 per diluted share, in the same period offiscal 2020. For the fourth quarter of fiscal 2021, diluted earnings per share increased 21.1percent from the same period in the prior year.Fiscal 2021Sales for fiscal 2021 were 151.2 billion, an increase of 19.0 billion, or 14.4 percent, fromfiscal 2020. Comparable sales for fiscal 2021 increased 11.4 percent, and comparable salesin the U.S. increased 10.7 percent.Net earnings for fiscal 2021 were 16.4 billion, or 15.53 per diluted share, compared withnet earnings of 12.9 billion, or 11.94 per diluted share in fiscal 2020. For fiscal year 2021,diluted earnings per share increased 30.1 percent versus last year.“Fiscal 2021 was another record year for The Home Depot. We achieved a milestone of over 150 billion in sales,” said Craig Menear, chairman and CEO. “Our ability to grow thebusiness by over 40 billion in the last two years is a testament to investments we havemade in the business, our ability to execute with agility, and our associates’ relentless focuson our customers. I would like to thank all of our associates, as well as our supplier partners,for their hard work and dedication to serving our customers, communities and each other.”Dividend DeclarationThe Company today announced that its board of directors approved a 15 percent increase inits quarterly dividend to 1.90 per share, which equates to an annual dividend of 7.60 pershare.

The dividend is payable on March 24, 2022, to shareholders of record on the close ofbusiness on March 10, 2022. This is the 140th consecutive quarter the Company has paid acash dividend.Fiscal 2022 GuidanceThe Company's fiscal 2022 guidance assumes the run-rate of dollar demand it has observedover the last two quarters continues through fiscal 2022. This dollar run-rate is adjusted forthe Company's historical seasonality to calculate its sales outlook for 2022.Fiscal 2022 Guidance: Sales growth and comparable sales growth to be slightly positiveOperating margin approximately flat with fiscal 2021Net interest expense of approximately 1.5 billionTax rate of approximately 24.6 percentDiluted earnings-per-share-growth to be low single digitsThe Home Depot will conduct a conference call today at 9 a.m. ET to discuss informationincluded in this news release and related matters, including a brief update on strategicinitiatives. The Company expects the conference call to end no later than 10:30 a.m. ET.Following the call, supplemental slides related to the conference call can be found erly-earnings/2021. The conference call willbe available in its entirety through a webcast and replay at the end of the fourth quarter, the Company operated a total of 2,317 retail stores in all 50states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadianprovinces and Mexico, including 14 stores in the U.S. from a small acquisition completedduring the second quarter of fiscal 2021. The Company employs approximately 500,000associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD)and is included in the Dow Jones industrial average and Standard & Poor's 500 index.###Certain statements contained herein constitute “forward-looking statements” as defined in the Private SecuritiesLitigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the impact of theCOVID-19 pandemic and the related recovery on our business, operations and financial results (which, amongother things, may affect many of the items listed below); the demand for our products and services; net salesgrowth; comparable sales; the effects of competition; our brand and reputation; implementation of store,interconnected retail, supply chain and technology initiatives; inventory and in-stock positions; the state of theeconomy; the state of the housing and home improvement markets; the state of the credit markets, includingmortgages, home equity loans and consumer credit; impact of tariffs; issues related to the payment methods weaccept; demand for credit offerings; management of relationships with our associates, potential associates,suppliers and service providers; international trade disputes, natural disasters, climate change, public healthissues (including pandemics and quarantines, related shut-downs and other governmental orders, and similarrestrictions, as well as subsequent re-openings), cybersecurity events, and other business interruptions that coulddisrupt supply or delivery of, or demand for, the Company’s products or services; our ability to meet environmental,social and governance (ESG) goals; continuation or suspension of share repurchases; net earnings performance;earnings per share; dividend targets; capital allocation and expenditures; liquidity; return on invested capital;expense leverage; stock-based compensation expense; commodity or other price inflation and deflation; our abilityto issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries,

claims and litigation, including compliance with related settlements; the effect of accounting charges; the effect ofadopting certain accounting standards; the impact of regulatory changes, including changes to tax laws andregulations; store openings and closures; guidance for fiscal 2022 and beyond; financial outlook; and the impactof acquired companies, including HD Supply Holdings, Inc., on our organization and the ability to recognize theanticipated benefits of those acquisitions. Forward-looking statements are based on currently availableinformation and our current assumptions, expectations and projections about future events. You should not relyon our forward-looking statements. These statements are not guarantees of future performance and are subjectto future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of thirdparties, or are currently unknown to us – as well as potentially inaccurate assumptions that could cause actualresults to differ materially from our expectations and projections. These risks and uncertainties include, but arenot limited to, those described in Part I, Item 1A, “Risk Factors,” and elsewhere in our Annual Report on Form 10K for our fiscal year ended January 31, 2021 and in our subsequent Quarterly Reports on Form 10-Q. There alsomay be other factors that we cannot anticipate or that are not described herein, generally because we do notcurrently perceive them to be material. Such factors could cause results to differ materially from our expectations.Forward-looking statements speak only as of the date they are made, and we do not undertake to update thesestatements other than as required by law. You are advised, however, to review any further disclosures we makeon related subjects in our filings with the Securities and Exchange Commission and in our other public statements.For more information, contact:Financial CommunityIsabel JanciVice President of Investor Relations and Treasurer770-384-2666isabel [email protected] MediaSara GormanSenior Director of Corporate Communications770-384-2852sara [email protected]

THE HOME DEPOT, INC.CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS(Unaudited)Three Months Endedin millions, except per share dataNet salesCost of salesGross profitOperating expenses:Selling, general and administrativeDepreciation and amortizationJanuary 30,2022January 31,2021 35,71923,85711,862 ,083Total operating expensesOperating incomeInterest and other (income) expense:Interest and investment incomeInterest expense(18)341323Interest and other, netEarnings before provision for income taxesProvision for income taxes(10)3373274,5023,756Fiscal Year EndedJanuary 30,2022January 31,202110.7 % 151,15711.3100,32550,8329.5 132,11087,25744,853% 1,300% Change14.4 %—0.221,73716,978 8992,8575,30417.3 % 16,4334,112 12,86627.7 %19.927.928.029.0Net earnings 1,1503,352Basic weighted average common sharesBasic earnings per share 1,0383.23 1,0742.66(3.4)%21.4 1,05415.59 1,07411.98(1.9)%30.1Diluted weighted average common sharesDiluted earnings per share 1,0433.21 1,0782.65(3.2)%21.1 1,05815.53 1,07811.94(1.9)%30.1Three Months EndedSelected Sales Data (1)Customer transactions (in millions)Average ticketSales per retail square footJanuary 30,2022January 31,2021402.5 85.11 571.79416.8 75.69 528.01Fiscal Year EndedJanuary 30,2022January 31,2021(3.4)%1,759.712.4 83.048.3 604.741,756.3 74.32 543.74% Change—————(1) Selected Sales Data does not include results for the legacy Interline Brands business or HD Supply Holdings, Inc.% Change0.2 %11.711.2

THE HOME DEPOT, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)January 30,2022in millionsJanuary 31,2021AssetsCurrent assets:Cash and cash equivalents Receivables, netMerchandise inventories2,343 7,8953,4262,99222,06816,627Other current assets1,218963Total current assets29,05528,47725,19924,705Net property and equipmentOperating lease right-of-use assets5,9685,962Goodwill7,4497,126Other assets4,2054,311Total assets 71,876 70,581 1,035 —Liabilities and Stockholders' EquityCurrent liabilities:Short-term debtAccounts payable13,46211,606Accrued salaries and related expenses2,4262,463Current installments of long-term debt2,4471,416830828Current operating lease liabilitiesOther current liabilities8,4936,853Total current term debt, excluding current installmentsLong-term operating lease liabilitiesOther long-term liabilitiesTotal liabilitiesTotal stockholders’ (deficit) equityTotal liabilities and stockholders’ equity 2,9222,93873,57267,282(1,696)3,29971,876 70,581

THE HOME DEPOT, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)Fiscal Year EndedJanuary 30,2022in millionsCash Flows from Operating Activities:Net earnings 16,433January 31,2021 12,866Reconciliation of net earnings to net cash provided by operating activities:Depreciation and amortizationStock-based compensation expenseChanges in working capital2,8622,519399310(3,043)Changes in deferred income taxes3,592(276)Other operating activitiesNet cash provided by operating 1)(7,780)Cash Flows from Investing Activities:Capital expendituresPayments for businesses acquired, netOther investing activities1873(2,969)Net cash used in investing activities(10,170)Cash Flows from Financing Activities:Proceeds from (repayments of) short-term debt, net1,035Proceeds from long-term debt, net of discounts and premiums2,9797,933Repayments of long-term debt(1,532)(2,872)Repurchases of common stock(14,809)(791)Proceeds from sales of common stock337Cash dividends326(6,985)Other financing activitiesNet cash used in financing activitiesChange in cash and cash equivalentsEffect of exchange rate changes on cash and cash equivalentsCash and cash equivalents at beginning of yearCash and cash equivalents at end of 4)5,686767,895 2,3432,133 7,895

Net earnings for fiscal 2021 were 16.4 billion, or 15.53 per diluted share, compared with net earnings of 12.9 billion, or 11.94 per diluted share in fiscal 2020. For fiscal year 2021, diluted earnings per share increased 30.1 percent versus last year. “Fiscal 2021 was another record year for The Hom