Lowe's Companies (LOW) 8-K Lowe’s Reports Fourth Quarter 2021 Sales and Earnings Results

Associates & Communities Financial Highlights U.S. Comparable Sales Summary Product Category Performance 2-Year Comp over 18% in all product categories ABOVE COMPANY AVERAGE (vs. Q4 2020)WE RETURNED $4.5 BILLION to our shareholders through dividends and share repurchases “We delivered another year of outstanding performance in 2021, with comparable sales up 6.9%, and drove over 170 basis points of operating margin improvement. I would like to thank our front-line associates for their tremendous efforts this year.” – Marvin R. Ellison, Chairman & CEO All 15 Regions Delivered 2-year Comp Growth over 21% Q4 2021 RESULTS +7.5% +7.1% -0.7% +23.9% +27.4% +34.3% NOV DEC JAN 2021 2020 +8.1% +7.4% -1.3% +23.8% +28.0% +35.7% NOV DEC JAN 2021 2020 -6.8% 0.9% 15.6% <$50 $50–$500 >$500 U.S. Monthly Comp Performance Monthly Comp Performance Comp Sales by Ticket Size Total Home Strategy Updates • Launched MVPs Pro Rewards and Partnership Program • Expanded Market Delivery Model to Carolina region (3rdmarket) • Expanded Coastal Holding Facility network to better manage imported product flow • Upgraded Store Inventory Management System to improve inventory visibility Awarded a discretionary year-end bonus of $265 million to front-line associates in recognition of their efforts in 2021 COMP TRANSACTIONS COMP $95.66 AVERAGE TICKET LOWES.COM SALES GROWTH -4.4% +9.5% +11.5% $21.3B IN SALES +5.1% +5.1% 2-YR Comp +9.8% 32.93% GROSS MARGIN +115 basis points 8.67% OPERATING MARGIN +117 basis points $1.78 DILUTED EPS +35% vs. LY ELECTRICAL LUMBER ROUGH PLUMBINGFLOORING SEASONAL & OUTDOOR LIVING BUILDING MATERIALS LAWN AND GARDEN MILLWORK U.S. COMP SALES Exhibit 99.2

1 Adjusted Diluted EPS is a non-GAAP financial measure. Refer to ir.lowes.com for a reconciliation of non-GAAP measures. Financial Highlights U.S. Comparable Sales Summary All Product Categories Drove Two-year Comps above 19% ABOVE COMPANY AVERAGE (vs. FY 2020) ELECTRICAL APPLIANCES ROUGH PLUMBING FLOORING SEASONAL & OUTDOOR LIVINGLUMBER MILLWORK WE RETURNED $15.1 BILLION to our shareholders through dividends and share repurchases $96.3B IN SALES +7.4% +6.5% U.S. COMP SALES 33.30% GROSS MARGIN +29 basis points 12.56% OPERATING MARGIN +179 basis points $12.04 +55% vs. LY DILUTED EPS +36% vs. LY ADJUSTED DILUTED EPS1 FY 2021 RESULTS KITCHENS & BATHDECOR Product Category Performance COMP TRANSACTIONS COMP $94.19 AVERAGE TICKET LOWES.COM SALES GROWTH -4.0% +10.5% +18.4% #1 Specialty Retailer for the second consecutive year– which is a first for Lowe’s In 2021, we celebrated our centennial with a $10 million investment in community impact projects for 100 Hometowns across the country Total Home Strategy Updates All 15 Regions Delivered Positive Comps with 2-year Comps over 22% Migrated Lowes 4 Pros to the cloud with enhanced features, faster updates, improved site stability, and more personalized offers for the Pro Expanded our Private Brand offering to deliver customer value, create differentiation, and improve margin Enhanced our Online capabilities with visualization and configuration tools including: • Lowe’s Kitchen Design Tool® • Measure Your Space™ Expanded our supply chain network: • Launched Market Delivery Model • Opened new Coastal Holding Facilities and e-commerce fulfillment centers #1 $6.7B FROM 2020 UP PRO GROWTH OF +24% 2-YR Comp +10.2%

Total Home Strategy Providing a full complement of products and services for Pros and Consumers alike, enabling a Total Home solution for every need in the home Market Share Acceleration Drive Pro penetration Accelerate online business Expand installation services Drive localization Elevate assortment

2021 Reconciliation of Non-GAAP Measure Management of Lowe's Companies, Inc. (the Company) uses certain non-GAAP financial measures and considers them to be important supplemental measures of the Company's performance. The Company has presented the non-GAAP financial measure of adjusted diluted earnings per share for comparing its operating performance to the fiscal year ended January 29, 2021. This measure excludes the impact of discrete items, further described below, not contemplated in Lowe's Business Outlook for fiscal 2020. This non-GAAP financial measure should not be considered an alternative to, or more meaningful indicator of, the Company's diluted earnings per share as prepared in accordance with GAAP. The Company's method of determining this non-GAAP financial measure may differ from the methods used by other companies and may not be comparable. Fiscal 2020 Impacts During fiscal 2020, the Company recognized financial impacts from the following discrete items, not contemplated in the Company's Business Outlook for the fiscal year: • Beginning in the third quarter of fiscal 2019, the Company began a strategic review of its Canadian operations, and in the fourth quarter of fiscal 2019, the Company announced additional actions to improve future performance and profitability of its Canadian operations. As a result of this review and related actions, the Company recognized pre-tax operating costs of $45 million related to inventory write-downs and other closing costs in fiscal 2020 (Canada restructuring), and; • In the third quarter of fiscal 2020, the Company recognized a $1.1 billion loss on extinguishment of debt in connection with the cash tender offers on an aggregate principal amount of $3.0 billion in outstanding notes (Loss on extinguishment of debt). The following provides a reconciliation of the Company's non-GAAP financial measure to the most directly comparable GAAP financial measure: Year Ended January 29, 2021 Adjusted Diluted Earnings Per Share Pre-Tax Earnings Tax 1 Net Earnings Diluted Earnings Per Share, As Reported $ 7.75 Canada restructuring 0.06 — 0.06 Loss on extinguishment of debt 1.41 (0.36) 1.05 Adjusted Diluted Earnings Per Share $ 8.86 1 Represents the corresponding tax benefit or expense related to the item excluded from adjusted diluted earnings per share.