Brazil’s Conselho Administrativo de Defesa Econômica Unconditionally Approves FedEx Intended Acquisition of TNT Express

MEMPHIS, Tenn. & HOOFDDORP, The Netherlands--()--This is a joint press release by FedEx Corporation, FedEx Acquisition B.V. and TNT Express N.V. 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) jointly announce that they have obtained the unconditional approval from the Conselho Administrativo de Defesa Econômica (CADE) in connection with the Offer.

“We are very pleased with the unconditional approval from the Brazilian regulatory authority,” said David Bronczek, President and CEO, FedEx Express. “Once the acquisition is closed, we look forward to the opportunities it will bring to our employees, customers and shareholders in Latin America and across the globe.”

On January 8, 2016, FedEx and TNT Express announced that the Acceptance Period for the Offer has been extended until two weeks following the satisfaction or waiver of the Offer Condition with respect to Competition Clearances.

The Offer Condition regarding Competition Clearances relates to obtaining competition approval from the relevant antitrust authorities in the EU, Brazil, China and the United States of America. The companies recently announced the unconditional approval from the United States and the European Union. Under Brazilian law, the decision may be appealed within 15 calendar days of the official publication of the decision. FedEx and TNT Express continue to work constructively with the regulatory authorities to obtain clearance of the transaction in the relevant jurisdictions, including 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 $49 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

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

Contacts

FedEx Corp.
Media:
Patrick Fitzgerald, +1-901-818-7300
patrick.fitzgerald@fedex.com
or
Media Contacts – Europe:
Citigate First Financial
Uneke Dekkers/Vivian ten Have, +31 (0) 20 575 40 10
Mobile: +31 (0) 6 50261626 / +31 (0) 6 46233900
or
FedEx Investor Relations:
Mickey Foster, +1-901-818-7468
mickey.foster@fedex.com
or
TNT Express
Media:
Cyrille Gibot, +31 88 393 9390
Mobile: +31 65 113 3104
cyrille.gibot@tnt.com
or
Investor Relations:
Gerard Wichers, +31 88 393 9500
gerard.wichers@tnt.com

Contacts

FedEx Corp.
Media:
Patrick Fitzgerald, +1-901-818-7300
patrick.fitzgerald@fedex.com
or
Media Contacts – Europe:
Citigate First Financial
Uneke Dekkers/Vivian ten Have, +31 (0) 20 575 40 10
Mobile: +31 (0) 6 50261626 / +31 (0) 6 46233900
or
FedEx Investor Relations:
Mickey Foster, +1-901-818-7468
mickey.foster@fedex.com
or
TNT Express
Media:
Cyrille Gibot, +31 88 393 9390
Mobile: +31 65 113 3104
cyrille.gibot@tnt.com
or
Investor Relations:
Gerard Wichers, +31 88 393 9500
gerard.wichers@tnt.com