On July 26, 2023, following his appointment as Chief Executive Officer and a member of the Board of Directors of Union Pacific Corporation effective August 14, 2023, V. James Vena notified FedEx Corporation (?FedEx? or the ?Company?) that he was resigning, effective July 26, 2023, from the FedEx Board of Directors (the ?Board?). Additionally, on July 26, 2023, Kimberly A. Jabal notified FedEx that she would not stand for reelection at the 2023 annual meeting of stockholders to be held on September 21, 2023.

Neither of the decisions of Ms. Jabal or Mr. Vena involved any disagreement with FedEx on any matter relating to the Company?s operations, policies, or practices. With these changes, the size of the Board has been reduced to fourteen members and will be further reduced to thirteen members immediately before the 2023 annual meeting of stockholders on September 21, 2023.