On December 19, 2024, FedEx announced its intent to separate FedEx Freight, creating two industry-leading public
companies, marking an important milestone in our value-creation strategy. FedEx Freight will be comprised of FedEx’s
less-than-truckload (LTL) freight transportation services business, including FedEx Custom Critical, LTL Select, and other
businesses operated under FedEx’s FedEx Freight reporting segment.
FedEx Freight is the largest North American LTL carrier with a robust focus on safety, speed, service, and
reliability. It is a long-standing partner to a diversified and attractive customer base across historically resilient
and high-growth industry verticals. As a standalone business, FedEx Freight will be well-positioned to
unlock its full value potential with an expanded, dedicated LTL salesforce, an integrated and digitally enabled
technology platform, and optimized operations focused on enhanced efficiency and service. FedEx Freight
will be positioned to build on its strong financial foundation, which includes stable margins and significant
cash flow generation, to extend its leadership position in the LTL market. Led by an experienced leadership
team with strong industry, sales, and operating track records, underpinned by a culture of excellence, FedEx
Freight is poised for long-term success.