Investor Presentaiton

DRIVE is enabling improved profitability Highly confident in our goal to deliver $1.8B in cost reduction benefits from DRIVE DRIVE supporting operating income growth DRIVE impact I Q2 FY24 against declining revenues (Absolute $ change) Q1 FY24 - Q4 FY23 Q3 FY23 Q2 FY23 Q4 FY20 Q2 FY20 Q1 FY20 Q2 FY10 Q1FY10 Q4 FY09 Q3 FY09 Op income YoY $ ---------- Revenue YoY $ Q2 cost savings: ~$200M in Surface Network ~$115M in Air Network & International >$100M in G&A Redesigning unmatched air network Focusing on speed and density to support realization of DRIVE benefits Key elements of Tricolor network design Purple Deliver high-priority, high-margin volumes through FedEx-owned fleet Orange Build off-cycle FedEx flights into network to build density, decongest hubs, and connect our global surface networks White Continue to leverage our global partner network as an adaptative capacity layer 7 8

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