Investor Presentaiton

39 FY25 execution targets drive strong total shareholder returns Stable, sustained revenue growth in attractive segments FY25 TARGETS $105B-$110B Revenue 4-6% CAGR Expand adjusted operating OVERALL¹ margins 10% GROUND1 11-12% EXPRESS¹ 8-9% FREIGHT¹ 20-22% Lower capital intensity and drive higher ROIC ROIC ~200 bps 11.5%+ CAPEX/Rev DIVIDEND PAYOUT¹ ≤6.5% 25%+ 1. Non-GAAP financial measure; see appendix for more information; 2. Assumes no change in P/E multiple in order to isolate impact of net income growth and dividend yield 40 40 Margin expansion is the biggest opportunity and our top priority FY25 ADJUSTED OP. MARGIN TARGET FedEx Ground 11 -12%* FedEx Express 8-9%* FedEx. FedEx Freight 20-22%* Consolidated 10%* *Non-GAAP financial measure; see appendix for more information $3B- $4.5B Adj. Op. Profit improvement¹ 14-19% Adj. EPS CAGR1 6/28/22 18-22% Total Shareholder Return delivered² Differentiated portfolio & service Enhanced revenue quality Improved productivity & asset utilization 20

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