European Commission Unconditionally Approves FedEx Intended Acquisition of TNT Express

Publish Date : 08 January 2016 11:00 CET -
Memphis, Tennessee; Hoofddorp, the Netherlands

JOINT PRESS RELEASE

This is a joint press release by FedEx Corporation, FedEx Acquisition B.V. and TNT Express N.V. pursuant to the provisions of Article 5:25i paragraph 2 of the Dutch Act on Financial Supervision (Wet op het Financieel Toezicht, the DFSA) and Article 4 paragraph 3 of the Decree on Public Takeover Bids (Besluit Openbare Biedingen Wft, the Decree) in connection with the recommended public offer by FedEx Acquisition B.V. for all the issued and outstanding ordinary shares in the capital of TNT Express N.V., including all American depositary shares representing ordinary shares (the Offer). This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in TNT Express N.V. The Offer is made solely pursuant to the offer document, dated August 21, 2015 (the Offer Document), approved by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) (the AFM). Terms not defined in this press release will have the meaning as set forth in the Offer Document.

FedEx Corporation (FedEx) (NYSE:FDX), FedEx Acquisition B.V. (the Offeror) and TNT Express (TNT Express) hereby jointly announce that they have obtained the unconditional approval of the European Commission in connection with the Offer. After its investigation, the European Commission has concluded that the deal does not raise any competition concerns.

“We are extremely pleased to receive the European Commission’s unconditional approval,” said David Binks, Regional President Europe, FedEx Express. “We believe the combination of TNT Express and FedEx will provide significant value to the employees, customers and shareholders of both companies.”

FedEx and TNT Express continue to work constructively with the regulatory authorities to obtain clearance of the transaction in the remaining jurisdictions, including Brazil and China. FedEx and TNT Express are making timely progress and continue to anticipate that the Offer will close in the first half of calendar year 2016.

About FedEx Corp.

FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $48 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 340,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities.

For more information, please visit www.fedex.com or contact:

Media

Patrick Fitzgerald
Phone +1 901 818 7300
Email: patrick.fitzgerald@fedex.com

Media Contacts – Europe

Uneke Dekkers/Vivian ten Have
Citigate First Financial
Phone +31 (0) 20 575 40 10
Mobile +31 (0) 6 50261626 / +31 (0) 6 46233900

FedEx Investor Relations

Mickey Foster
Phone +1 901 818 7468
Email: mickey.foster@fedex.com

About TNT Express

TNT Express is one of the world’s largest express delivery companies. On a daily basis, TNT Express delivers close to one million consignments ranging from documents and parcels to palletised freight. The company operates road and air transportation networks in Europe, the Middle East and Africa, Asia-Pacific and the Americas. TNT Express made €6.7 billion in revenue in 2014.

For more information, please visit www.tnt.com/corporate or contact:

MEDIA

Cyrille Gibot
P: +31 (0)88 393 9390
M: +31 (0)65 113 3104
E: cyrille.gibot@tnt.com

INVESTOR RELATIONS

Gerard Wichers
P: +31 (0)88 393 9500
E: gerard.wichers@tnt.com