Investor Presentaiton

Q2 FY23 reconciliation for FedEx Express segment Dollars in millions GAAP measure Operating Income Operating Margin $341 3.1% Business optimization costs 11 0.1% Non-GAAP measure $352 3.2% FY24 earnings per share forecast Dollars in millions, except EPS Earnings per diluted share before MTM retirement plans accounting adjustments (non- GAAP)6 Business optimization costs Income tax effect² Net of tax effect Earnings per diluted share with adjustments (non-GAAP)6 2,6 See "Footnotes for Non-GAAP Reconciliation Slides" below for details Adjustments Diluted Earnings Per Share 550 (130) $15.35 to $16.85 $420 1.65 $17.00 to $18.50 27 28

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