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Investor Presentaiton

Full-Year Fiscal 2021 Dollars in millions, except EPS GAAP measure MTM retirement plans accounting adjustments³ Operating Income Margin Income Net Diluted Earnings Taxes1 Income² Per Share11 $ 5,857 7.0% $ 1,443 $ 5,231 $ 19.45 (281) (895) (3.33) Loss on debt extinguishment 96 297 1.11 TNT Express integration expenses 210 0.3% 48 162 0.60 Business realignment costs5 116 0.1% 26 90 0.33 Non-GAAP measure $ 6,183 7.4% $ 1,332 $ 4,885 $ 18.17 Fiscal 2023 Adjusted Dividend Payout Ratio Forecast Dollars in millions Cash dividends expected to be paid in fiscal 2023 Fiscal 2022 net income (GAAP) Dividend payout ratio (GAAP) 1,175 3,826 31% Cash dividends expected to be paid in fiscal 2023 $ 1,175 Fiscal 2022 adjusted net income (non-GAAP) Adjusted dividend payout ratio (non-GAAP) 5,502 21% Notes: 1 - Income taxes are based on the company's approximate statutory tax rates applicable to each transaction. 2 - Effect of "total other (expense) income" on net income amount not shown. 3 - Reflects the year-end adjustment to the valuation of the company's defined benefit pension and other postretirement plans. For fiscal 2022, the MTM retirement plans accounting adjustments also include the second quarter TNT Express MTM retirement plans accounting adjustment related to a noncash loss associated with the termination of a TNT Express European pension plan and a curtailment charge related to the U.S. FedEx Freight pension plan. For fiscal 2021, the MTM retirement plans accounting adjustments also include the second quarter TNT Express MTM retirement plans accounting adjustment related to a noncash loss associated with amending a TNT Express European pension plan to harmonize retirement benefits. - 4 – Business realignment costs were recognized at FedEx Express. 5 - These charges were recognized at FedEx Corporation. 6 - These expenses were recognized at FedEx Corporation and FedEx Express.
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