2021 FedEx Retirement Choice Decision Guide

1 Your FedEx Retirement Benefits 2021 FedEx Retirement Choice Decision Guide It's time to choose! Retirement Choice Period: July 12 August 25, 2021. Take control of your Retirement We continue to provide you with competitive Retirement benefits, and you should play an active role in your Retirement planning. Now is also a good time to review your contribution rate and investment options in the 401(k) Plan and how they fit into your overall Retirement strategy. You have a Choice Beginning January 1, 2022, we will introduce a new 401(k) Plan* for eligible employees across all operating companies, a higher Company match of up to 8%. Current Retirement benefits New Retirement benefits 401(k) Plan with a Company match of up to 401(k) Plan with a Company match plus of up to 8%.

2 Pension Plan (funded entirely by FedEx ). The new Retirement benefits structure represents a partnership between you and FedEx in saving for your future and reflects how people work and save today. We are giving you an opportunity to select the Retirement benefits that best meet your needs, through the Retirement Choice Period. You can either remain in your current Retirement benefit plans or move to the new plan. It's all about giving you Choice ! The Retirement Choice Period will be from July 12 through August 25, 2021. During that period, you will have the opportunity to: LEARN about your options by reading this Retirement Choice Decision Guide , the Frequently Asked Questions and the Important Information About Your FedEx Pension Plan (the required 204(h) Notice) included in this packet.

3 You can also join a live webinar to learn about your options and how to make your Choice . Or, you can watch an on-demand webinar at your convenience. MODEL personalized benefit scenarios using the FedEx Retirement Choice Tool, available at MAKE YOUR Choice by Wednesday, August 25, on or by calling the FedEx Retirement Choice Call Center at , Monday through Friday from 8 to 6 CDT. *For employees residing in Puerto Rico, 401(k) Plan refers to the FedEx Corporation Retirement Savings Plan for Puerto Rico. Puerto Rico participants will remain in one plan, which will have two separate Company match formulas. 1. What are my choices? At FedEx , we have a diverse workforce, and every employee has unique personal goals when planning for Retirement .

4 That's why we are offering you a Retirement Choice . Employees who are eligible to participate in the FedEx Corporation Employees' Pension Plan or the FedEx Freight Pension Plan will have a voluntary one-time Choice : Option #1: Continue in the current 401(k) Plan Option #2: Move to the new 401(k) Plan**. and Pension Plan* effective January 1, 2022. P. articipate in the new 401(k) Plan with a higher Company match of up to 8%. C. ontinue in the current 401(k) Plan with a Company match of up to S. top receiving Pension Plan compensation credits and any transition compensation credits, as C. ontinue receiving Pension Plan compensation credits of January 1, 2022. and, if eligible, transition compensation credits Y.

5 Ou will not be eligible to participate again in the Pension Plan* for future service accruals after December 31, 2021. *Participation in the pension plans is closed to employees hired or rehired on or after January 1, 2020. **Puerto Rico participants will remain in one plan, the FedEx Corporation Savings Plan for Puerto Rico, which will have two separate Company match formulas. Regardless of your Choice , you will not lose any vested Pension Plan benefits and you will continue receiving Pension Plan interest credits. If you elect to move to the new 401(k) plan, your 401(k) balance, including any outstanding loan, will be transferred from the current 401(k) plan to the new 401(k) plan. Here's what to expect: Choice period begins.

6 July 12 Access an online personalized tool where you can compare your options, model different scenarios, and make your Choice . Learn more about your options through a series of live or on-demand online sessions. A dedicated call center is also available to answer questions. Call the FedEx Retirement July and August Choice Call Center at , Monday through Friday from 8 to 6 CDT. Choice period ends. Your election must be made by this date. If you do not make a Choice , you will remain August 25. in your current Retirement plan structure. A confirmation statement will be mailed to your home address. January 1, 2022 Your election takes effect. Need assistance? Call the FedEx Retirement Choice Call Center at , Monday through Friday from 8 to 6 CDT.

7 2. Using the FedEx Retirement Choice Tool We want to help you make an informed Choice . The FedEx Retirement Choice Tool, available at , enables you to compare Retirement benefits under each option, based on your personal information and assumptions you can modify. All amounts shown in the tool are estimates based on the described assumptions your actual Retirement benefit will vary from the benefits shown. Determining the best option for you will depend on many factors your age, Retirement goals, approach to saving and investing, any benefits earned under other Retirement plans, and more. Review the differences between the Pension Plan and the 401(k) Plan described in this Guide . Then use the resources on the Learn tab of the FedEx Retirement Choice Tool to make the best Decision for you.

8 STEP Visit 1. The first time you access the site, you'll need to register using your FedEx ID. (employee number), your date of birth, and the last four digits of your Social Security number. From the login screen, click Register under Logging in for the first time? . STEP Learn 2 Start here to explore your Retirement Choice options and find additional resources. 3. STEP Model Your Options 3. The FedEx Retirement Choice Tool will allow you to model and compare the options based on different criteria, including: E. arnings The default is your 2020 eligible earnings. You can change the amount to project your future earnings if you anticipate a significant change in your work status such as part-time vs. full-time, an upcoming promotion, or a return from a Leave of Absence or if your actual 2020 eligible earnings do not reflect your anticipated eligible earnings in 2020 and later.

9 For example, you may want to enter a different amount if you only worked part of the year in 2020, you worked fewer or more hours in 2020 than you anticipate working in a typical year in the future, or you moved to a new position in 2021 with a different pay rate than your prior position. E. arnings increase The default is set at a 3% annual rate of increase for your eligible earnings, but you may choose to enter a rate between 0%. and 4%. 4. 01(k) Plan contribution rate Choose a rate between 0% and 6% of your eligible earnings.*. 4. 01(k) Plan investment rate of return The default is set at 5% for the investment rate of return, but you may choose an estimated rate between 0% and 10%. A. ccrue future Pension Plan PPA compensation credits Your Pension Plan benefit service is based on being credited with at least 1,000 hours of service each year (June 1 May 31).

10 The default is based on whether you were credited with at least 1,000 hours of service for the plan year ending May 31, 2021. Based on your inputs, the Retirement Choice Tool will display the difference between Option #1 and Option #2 in terms of your projected lump-sum Retirement benefits. Your actual benefit will vary depending on your contributions, investment performance, interest rates, service, and actual earnings. In addition, there are some personal circumstances that may or may not be reflected in the Tool, such as if you are subject to a qualified domestic relations order or were rehired after starting your pension benefit. *You can contribute more than 6% of your eligible earnings to the 401(k) Plan.