FedEx Announces Extension of Expiration Date of Exchange Offers

MEMPHIS, Tenn.--(BUSINESS WIRE)--  FedEx Corp. (NYSE: FDX) (“FedEx”) announced today the extension of the expiration date for certain of its offers to exchange (each, an “Exchange Offer” and, collectively, the “Exchange Offers”) all of its outstanding senior notes of each of the series listed in the table below (collectively, the “Notes”) for a like principal amount of Notes of the applicable series (the “Exchange Notes”) with substantially identical terms other than that such Exchange Notes have been registered under the Securities Act of 1933.

The Exchange Offers, which had been scheduled to expire on September 29, 2025, at 5:00 p.m., New York City time (the “Prior Expiration Date”), will now expire at 5:00 p.m., New York City time, on October 6, 2025, unless further extended by FedEx, with respect to each series of the Notes except FedEx’s 3.875% Notes due 2042 (the “2042 Notes”). The applicable Exchange Offers are being extended to provide the holders of the Notes (other than the 2042 Notes) who have not yet tendered their Notes for exchange additional time to do so. All other terms, provisions and conditions of the applicable Exchange Offers will remain in full force and effect.

Because 100% of the aggregate principal amount of 2042 Notes had been validly tendered and not validly withdrawn as of the Prior Expiration Date, the Exchange Offer with respect to the 2042 Notes (the “2042 Notes Exchange Offer”) will not be extended.  FedEx expects to settle the 2042 Notes Exchange Offer on or about October 1, 2025.

U.S. Bank Trust Company, National Association, as exchange agent for the U.S.-dollar denominated Notes (the “U.S. Exchange Agent”) and U.S. Bank Europe DAC, U.K. Branch, as Exchange Agent for the Euro-denominated Notes (together with the U.S. Exchange Agent, the “Exchange Agents”), have been appointed to act as exchange agents with respect to the Exchange Offers. FedEx has been informed by the Exchange Agents that, as of the Prior Expiration Date, the principal amounts of the Notes set forth in the table below had been validly tendered and not validly withdrawn:

Title of Series	CUSIP Numbers	ISIN Numbers	Principal Amount Outstanding	Principal Amount	Percentage
3.400% Notes due 2028	144A: 31428X CF1 Reg S: U31520 AG1	144A: US31428XCF15 Reg S: USU31520AG19	$340,494,000	$340,313,000	99.9468%
4.200% Notes due 2028	144A: 31428X CG9 Reg S: U31520 AH9	144A: US31428XCG97 Reg S: USU31520AH91	$237,285,000	$236,760,000	99.7787%
3.100% Notes due 2029	144A: 31428X CH7 Reg S: U31520 AJ5	144A: US31428XCH70 Reg S: USU31520AJ57	$628,053,000	$626,398,000	99.7365%
4.250% Notes due 2030	144A: 31428X CJ3 Reg S: U31520 AK2	144A: US31428XCJ37 Reg S: USU31520AK21	$406,103,000	$403,661,000	99.3987%
2.400% Notes due 2031	144A: 31428X CK0 Reg S: U31520 AL0	144A: US31428XCK00 Reg S: USU31520AL04	$642,185,000	$637,040,000	99.1988%
4.900% Notes due 2034	144A: 31428X CL8 Reg S: U31520 AM8	144A: US31428XCL82 Reg S: USU31520AM86	$351,518,000	$350,313,000	99.6572%
3.900% Notes due 2035	144A: 31428X CM6 Reg S: U31520 AN6	144A: US31428XCM65 Reg S: USU31520AN69	$391,912,000	$389,042,000	99.2677%
3.250% Notes due 2041	144A: 31428X CN4 Reg S: U31520 AP1	144A:  US31428XCN49 Reg S: USU31520AP18	$619,635,000	$619,414,000	99.9643%
3.875% Notes due 2042	144A: 31428X CP9 Reg S: U31520 AQ9	144A: US31428XCP96 Reg S: USU31520AQ90	$444,611,000	$444,611,000	100.0000%
4.100% Notes due 2043	144A: 31428X CQ7 Reg S: U31520 AR7	144A: US31428XCQ79 Reg S: USU31520AR73	$391,769,000	$391,754,000	99.9962%
5.100% Notes due 2044	144A: 31428X CR5 Reg S: U31520 AS5	144A: US31428XCR52 Reg S: USU31520AS56	$541,689,000	$539,885,000	99.6670%
4.100% Notes due 2045	144A: 31428X CS3 Reg S: U31520 AT3	144A: US31428XCS36 Reg S: USU31520AT30	$503,830,000	$501,630,000	99.5633%
4.750% Notes due 2045	144A: 31428X CT1 Reg S: U31520 AU0	144A: US31428XCT19 Reg S: USU31520AU03	$913,438,000	$909,182,000	99.5341%
4.550% Notes due 2046	144A: 31428X CU8 Reg S: U31520 AV8	144A: US31428XCU81 Reg S: USU31520AV85	$1,007,069,000	$1,006,769,000	99.9702%
4.400% Notes due 2047	144A: 31428X CV6 Reg S: U31520 AW6	144A:  US31428XCV64 Reg S: USU31520AW68	$604,653,000	$604,518,000	99.9777%
4.050% Notes due 2048	144A: 31428X CW4 Reg S: U31520 AX4	144A: US31428XCW48 Reg S: USU31520AX42	$743,435,000	$743,160,000	99.9630%
4.950% Notes due 2048	144A: 31428X CX2 Reg S: U31520 AY2	144A:  US31428XCX21 Reg S: USU31520AY25	$696,469,000	$696,025,000	99.9362%
5.250% Notes due 2050	144A: 31428X CY0 Reg S: U31520 AZ9	144A: US31428XCY04 Reg S: USU31520AZ99	$1,047,658,000	$1,045,887,000	99.8310%
4.500% Notes due 2065	144A: 31428X CZ7 Reg S: U31520 BA3	144A: US31428XCZ78 Reg S: USU31520BA30	$213,040,000	$213,022,000	99.9916%
0.450% Notes due 2029	N/A	144A: XS2992391446 Reg S: XS2992394895	€391,747,000	€379,247,000	96.8092%
1.300% Notes due 2031	N/A	144A: XS2992396320 Reg S: XS2992395785	€145,122,000	€142,622,000	98.2773%
0.950% Notes due 2033	N/A	144A: XS2992396676 Reg S: XS2992396593	€402,828,000	€393,528,000	97.6913%

A Registration Statement on Form S-4 (File No. 333-289716) (the “Registration Statement”) relating to the Exchange Offers was filed with the Securities and Exchange Commission (the “SEC”) on August 19, 2025, and was declared effective on August 28, 2025. The Exchange Offers are being made pursuant to the terms and subject to the conditions set forth in a prospectus, dated August 29, 2025, which has been filed with the SEC and forms a part of the Registration Statement.

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 $89 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 the expected timing for the Exchange Offers. 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 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, economic conditions in the global markets in which FedEx operates; uncertainty and additional changes in the global trade environment; FedEx’s ability to successfully implement its business strategies and global transformation program and network optimization initiatives, including Network 2.0 and Tricolor, effectively respond to changes in market dynamics, and achieve the anticipated benefits of such strategies and actions; FedEx’s ability to achieve its cost reduction initiatives and financial performance goals; the timing and amount of any costs or benefits or any specific outcome, transaction, or change (of which there can be no assurance), or the terms, timing, and structure thereof, related to FedEx’s global transformation program and other ongoing reviews and initiatives; a significant data breach or other disruption to FedEx’s technology infrastructure; FedEx’s ability to successfully implement the planned tax-free full separation of the FedEx Freight business into a new publicly traded company and achieve the anticipated benefits of such transaction; damage to FedEx’s reputation or loss of brand equity; FedEx’s ability to meet its labor and purchased transportation needs while controlling related costs; failure of third-party service providers to perform as expected, or disruptions in FedEx’s relationships with those providers or their provision of services to FedEx; the effect of any international conflicts or terrorist activities, including as a result of the current conflicts between Russia and Ukraine and in the Middle East; evolving or new U.S. domestic or international laws and government regulations, policies, and actions; changes in fuel prices or currency exchange rates, including significant increases in fuel prices as a result of the ongoing conflicts between Russia and Ukraine and in the Middle East and other geopolitical and regulatory developments; the effect of intense competition; FedEx’s ability to match capacity to shifting volume levels; an increase in self-insurance accruals and expenses; failure to receive or collect expected insurance coverage; FedEx’s ability to effectively operate, integrate, leverage, and grow acquired businesses and realize the anticipated benefits of acquisitions and other strategic transactions; noncash impairment charges related to FedEx’s goodwill and certain deferred tax assets; the future rate of e-commerce growth; future guidance, regulations, interpretations, challenges, or judicial decisions related to FedEx’s tax positions; labor-related disruptions; legal challenges or changes related to service providers contracted to conduct certain linehaul and pickup-and-delivery operations and the drivers providing services on their behalf and the coverage of U.S. employees at Federal Express Corporation under the Railway Labor Act of 1926, as amended; FedEx’s ability to quickly and effectively restore operations following adverse weather or a localized disaster or disturbance in a key geography; the effects of a widespread outbreak of an illness or any other communicable disease or public health crises; any liability resulting from and the costs of defending against litigation; FedEx’s ability to achieve or demonstrate progress on our goal of carbon-neutral operations by 2040; successful completion of planned stock repurchases; and other factors which can be found in FedEx’s and its subsidiaries’ press releases and FedEx’s filings with the SEC, including FedEx’s Annual Report on Form 10-K for the fiscal year ended May 31, 2025. Any forward-looking statement speaks only as of the date on which it is made. FedEx does not undertake or 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

Source: FedEx Corp.