FEDEX CORP — Director's Dealing 2020

May 9, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FEDEX CORP (FDX)
CIK: 0001048911
Period of Report: 2020-05-07

Reporting Person: SMITH FREDERICK W (Director, Chairman/CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-07	Common Stock	M	195500	$78.19	Acquired	14575378	Direct
2020-05-07	Common Stock	S	42380	$116.7165	Disposed	14532998	Direct
2020-05-07	Common Stock	S	61406	$117.7292	Disposed	14471592	Direct
2020-05-07	Common Stock	S	51964	$118.5101	Disposed	14419628	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-07	Non-qualified Stock Option (Right to Buy)	$78.19	M	195500	Disposed	2020-06-07	Common Stock (195500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	973863	Indirect
Common Stock	4141280	Indirect
Common Stock	736	Indirect
Common Stock	2504	Indirect

Footnotes

F1: Excludes 409,596 shares previously owned directly which were contributed to a grantor annuity trust on January 2, 2020

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.29 to $117.28, inclusive. The reporting person undertakes to provide to
FedEx Corporation, any security holder of FedEx Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price
within the ranges set forth in this footnote to this Form 4.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $117.29 to $118.28, inclusive. The reporting person undertakes to provide to
FedEx Corporation, any security holder of FedEx Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price
within the ranges set forth in this footnote to this Form 4.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.29 to $118.85, inclusive. The reporting person undertakes to provide to
FedEx Corporation, any security holder of FedEx Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price
within the ranges set forth in this footnote to this Form 4.

F5: Ownership has been adjusted to reflect 46 shares that were acquired via dividend reinvestment in the Retirement Plan as a result of dividends paid to all stockholders.

F6: These options first exercisable one year from date of grant.