Lowe's Companies (LOW) 8-K Lowe’s Reports Third Quarter 2023 Sales and Earnings Results

Financial Highlights Comparable Sales Summary Product Category Performance Comp above company average in 7 of 14 product categories “ Lowe’s delivered strong operating performance and improved customer service despite a greater- than-expected pullback in DIY. At the same time, our investments in Pro continue to resonate, resulting in positive Pro comps again this quarter.” – Marvin R. Ellison, Chairman & CEO Q3 2023 RESULTS -6.3% -8.3% -7.3% +4.0% +3.4% +1.4% AUG SEPT OCT 2023 2022 U.S. Monthly Comp Performance Comp Sales by Ticket Size Enhanced brand assortment with a new strategic partnership with The Toro Company TOOLS BUILDING MATERIALS -7.4% COMP SALES HARDWARE Note: Comparable sales are calculated based on comparison to weeks 28-40 in fiscal 2022. 1. Adjusted Operating Margin and Adjusted Diluted EPS are non-GAAP financial measures. Refer to ir.lowes.com for a reconciliation of non-GAAP measures. LAWN & GARDEN MILLWORK PAINT ROUGH PLUMBING We returned $2.2 BILLION to our shareholders through dividends and share repurchases 33.7% GROSS MARGIN +36 basis points $3.06 DILUTED EPS +1,124% vs. LY -6% vs LY Adjusted Diluted EPS1 7 of 15 Regions Delivered Comp Growth Above Company Average Launched omnichannel selling within our stores, making our endless aisle on Lowes.com available in-store Positive Pro comp sales as investments in Pro brands, inventory depth, and multiple other Pro initiatives continue to resonate 13.2% OPERATING MARGIN +924 basis points vs. LY +46 basis points vs. LY Adjusted Operating Margin1 Q3 Total Home Strategy Updates COMP TRANSACTIONS COMP $101.49 AVERAGE TICKET ONLINE SALES DECLINE - 6.9% - 0.5% - 4.0% -5.7% -7.6% -9.8%>$500 $100-$500 <$100 Exhibit 99.2

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

Q3 2023 Reconciliation of Non-GAAP Measures Management of Lowe's Companies, Inc. (the Company) uses certain non-GAAP financial measures to provide additional insight for analysts and investors in evaluating the Company's financial and operating performance. These non-GAAP financial measures should not be considered alternatives to, or more meaningful indicators of, the Company's financial measures as prepared in accordance with GAAP. The Company's methods of determining these non-GAAP financial measures may differ from the methods used by other companies and may not be comparable. The Company has provided the following non-GAAP financial measures to assist the user in comparing its operating performance to the three months ended October 28, 2022: adjusted operating income, adjusted operating margin, and adjusted diluted earnings per share. These measures exclude the impacts of a certain item, further described below, not contemplated in Lowe's Business Outlook. Fiscal 2022 Impacts During fiscal 2022, the Company recognized financial impacts from the following, not contemplated in the Company's Business Outlook for fiscal 2022: • In the third quarter of fiscal 2022, the Company recognized a pre-tax $2.1 billion long-lived asset impairment of the Canadian retail business (Canadian retail business transaction). The following provides a reconciliation of the Company's non-GAAP financial measures to the most directly comparable GAAP financial measures: Three Months Ended Adjusted Operating Income (in millions, except percentage data) October 28, 2022 Operating Income, As Reported $ 924 Canadian retail business transaction 2,061 Adjusted Operating Income $ 2,985 Operating Margin, % of Sales, As Reported 3.95 % Adjusted Operating Margin, % of Sales 12.71 % Three Months Ended October 28, 2022 Adjusted Diluted Earnings Per Share Pre-Tax Earnings Tax 1 Net Earnings Diluted Earnings Per Share, As Reported $ 0.25 Canadian retail business transaction 3.32 (0.30) 3.02 Adjusted Diluted Earnings Per Share $ 3.27 1 Represents the corresponding tax benefit or expense specifically related to the item excluded from adjusted diluted earnings per share.