Timing to coincide with completion of the FedEx Freight spin-off

Enterprise Vice President, Finance, Claude Russ to serve as Interim CFO while company conducts search

FedEx Corp. (NYSE:FDX) today announced that John Dietrich will step down as executive vice president and chief financial officer on June 1 upon successful completion of the spin-off of FedEx Freight into a new publicly traded company. He will remain with the company until July 31. Claude Russ, FedEx enterprise vice president, Finance will serve as interim CFO, effective June 1, as the company conducts a comprehensive internal and external search for a successor. Additionally, FedEx affirms the FY26 outlook shared on its last earnings call, along with the 2029 targets shared at its Investor Day in February.

"I want to thank John for his many contributions to the FedEx leadership team over the last several years as we successfully navigated a significant company transformation and delivered on the upcoming spin of our Freight business," said Raj Subramaniam, president and chief executive officer of FedEx Corporation. "As we begin the search for John's successor, I am confident that Claude's wealth of experience will ensure seamless continuity and commitment to advancing our strategy."

In Russ' current role, he leads the FedEx Global Financial Planning and Analysis team as well as the finance initiatives within the company's DRIVE transformation. With 24 years of experience at FedEx, he has served in a variety of leadership positions including COO of FedEx Dataworks, senior vice president of Revenue Management at FedEx Services, and CFO of FedEx Freight. The FedEx Finance team is further supported by a bench of highly experienced and capable leaders.

About FedEx Corp.

FedEx Corp. (NYSE:FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $92 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding FY26 outlook and FedEx's 2029 targets. Forward-looking statements include those preceded by, followed by or that include the words "will," "may," "could," "would," "should," "believes," "expects," "forecasts," "anticipates," "plans," "estimates," "targets," "projects," "intends" or similar expressions. Such forward-looking statements are based on management's current expectations and are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to the factors which can be found in FedEx's and its subsidiaries' press releases and FedEx's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended May 31, 2025, and subsequently filed Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. FedEx does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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Media Contact:

Caitlin Maier

901-434-8100

mediarelations@fedex.com

Investor Relations Contact:

Jeni Hollander

901-818-7200

ir@fedex.com

FedEx Chief Financial Officer John W. Dietrich to Step Down June 1