What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2026-07-20 compared with 2025-07-21 · 26 added, 40 removed, 98 unchanged (40% of the section changed)

Federal Express Segment

Federal Express

Federal Express’s principal owned and leased properties include its aircraft, vehicles, major sorting and handling facilities, administration buildings, FedEx Drop Boxes, and data processing and telecommunications equipment.

1 unchanged sentence

As of May 31, 2026, Federal Express’s aircraft fleet consisted of the following:

Description Owned Leased Total Maximum Gross

Description Owned Leased Total Not Yet Placed

in Service (1)

Maximum Gross

Structural Payload

11 unchanged sentences

Total 697 3 700 5

(1) Includes one aircraft not currently in operation and undergoing pre-service modifications.

In 2025, we made the decision to permanently retire from service 12 aircraft, including two Boeing 757-200 aircraft, seven Airbus A300-600 aircraft and three Boeing MD-11 aircraft, and eight related engines.

(1) Includes five aircraft not currently in operation and undergoing pre-service modifications.

In 2026, we made the decision to permanently retire from service 10 aircraft, including four Boeing 757-200 aircraft, one Airbus A300-600 aircraft, and five Boeing MD-11 aircraft.

These retirements are aligned with our fleet reduction and modernization strategy as we continue to improve our global network efficiency and better align air network capacity with anticipated demand.

Additionally, we have extended the retirement of the entire Boeing MD-11 fleet from 2028 to the end of 2032.

See the “Results of Operations and Outlook — Consolidated Results — Goodwill and Other Asset Impairment Charges” section of “ Item 7.

Management’s Discussion and Analysis of Results of Operations and Financial Condition ” of this Annual Report for more information regarding the retirements, and the “Federal Express Segment — Operations” section of “ Item 1.

See the “Results of Operations and Outlook — Consolidated Results — Asset Impairment Charges” section of “ Item 7.

Management’s Discussion and Analysis of Results of Operations and Financial Condition ” of this Annual Report for more information regarding the retirements, and the “Business Segments — Federal Express” section of “ Item 1.

Business ” for information regarding the ongoing redesign of the Federal Express international air network to improve efficiency and asset utilization.

2 unchanged sentences

The following table is a summary of the number and type of aircraft we were committed to purchase as of May 31, 2026, with the year of expected delivery:

SkyCourier 408 ATR 72-600F B767F B777F Total

2026 19 3 7 — 29

2027 4 3 — 5 12

2028 — 4 — 5 9

SkyCourier 408 ATR 72-600F B777F Total

2027 9 5 5 19

20 unchanged sentences

Oakland, California 75 587,700 63,000 Port of Oakland 2036

Greensboro, N.

Carolina 165 595,000 23,000 Piedmont Triad Airport Authority 2031

Chicago, Illinois 54 481,350 21,000 City of Chicago 2028

3 unchanged sentences

Anchorage, Alaska (5)

64 375,300 25,000 State of Alaska,

Department of

Transportation and

Public Facilities 2078

64 417,300 25,000 State of Alaska, Department of Transportation and Public Facilities 2078

Paris, France (6)

15 unchanged sentences

(5) Handles international express package and freight shipments to and from Asia, Europe, and North America.

(6) Handles intra-Europe express package and freight shipments, as well as international express package and freight shipments to and from Europe.

(7) Handles intra-Asia express package and freight shipments, as well as international express package and freight shipments to and from Asia.

(6) Handles intra-Europe express package and freight shipments and international express package and freight shipments to and from Europe.

(7) Handles intra-Asia express package and freight shipments and international express package and freight shipments to and from Asia.

(8) Handles intra-Europe express package and freight shipments.

6 unchanged sentences

Federal Express also has a substantial presence at airports in Hong Kong, Taiwan, and Dubai.

A central air hub near Liege, Belgium connects specific large European markets.

central air hub near Liege, Belgium connects specific large European markets.

Additionally, central European road hubs are located in Duiven, The Netherlands and Novara, Italy, respectively.

As of May 31, 2025, Federal Express owned or leased approximately 650 facilities for city station operations in the U.S.

As of May 31, 2025, Federal Express owned or leased approximately 1,150 additional sorting and distribution centers in the U.S.

and 100 sorting and distribution centers in Canada that support its U.S.

and Canada surface operations.

This included approximately 720 legacy FedEx Ground and 530 legacy FedEx Express facilities.

See the “Federal Express Segment — Operations” section of “ Item 1.

As of May 31, 2026, Federal Express owned or leased approximately 1,085 facilities for operations in the U.S.

and 96 sorting and distribution centers in Canada that support its Surface operations.

See the “Business Segments — Federal Express” section of “ Item 1.

Business ” for information regarding the ongoing consolidation of these operations.

8 unchanged sentences

The World Headquarters of Federal Express is located in southeastern Shelby County, Tennessee.

Federal Express international headquarters are located in Hoofddorp, The Netherlands.

Federal Express leases state-of-the-art technology centers in Collierville, Tennessee and Colorado Springs, Colorado.

These facilities house personnel responsible for strategic software development and other functions that support FedEx’s technology and e-commerce solutions.

Federal Express leases additional space to support our international operations, which are located in Hoofddorp, The Netherlands and Singapore.

Federal Express leases a state-of-the-art technology center in Collierville, Tennessee.

This facility houses personnel responsible for strategic software development and other functions that support FedEx’s technology and e-commerce solutions.

As of May 31, 2026, Federal Express had approximately 23,000 Drop Boxes.

7 unchanged sentences

domestic and international Federal Express shipping and drop-off services at nearly 800 Office Depot and OfficeMax retail locations.

FedEx Freight Segment

FedEx Freight’s corporate headquarters are located in Memphis, Tennessee, with some administrative offices in Harrison, Arkansas.

As of May 31, 2025, FedEx Freight operated nearly 30,000 motorized vehicles and approximately 355 service centers, which are strategically located to provide service throughout North America.

These facilities range in size from approximately 1,000 to 280,000 square feet of office and dock space.

FedEx Dataworks Operating Segment

As of May 31, 2026, FedEx Logistics operated approximately 100 offices and facilities in 34 countries and territories throughout North America and in Africa, Asia-Pacific, Europe, India, Latin America, the Middle East, and Australia/New Zealand.

In addition, as of May 31, 2026, FedEx Supply Chain had approximately 70 facilities through which it operated its supply chain logistics services.

FedEx Dataworks

FedEx Dataworks’ corporate headquarters are located in Memphis, Tennessee.

FedEx Office Operating Segment

FedEx Office’s corporate headquarters are located in Plano, Texas.

1 unchanged sentence

Substantially all FedEx Office stores are leased, generally for terms of five to ten years with varying renewal options.

FedEx Office operates approximately 200 stores at hotels, convention centers, hospitals, universities, and corporate campuses, with the remainder generally located in strip malls, office buildings, Walmart stores, and stand-alone structures.

FedEx Office operates over 220 stores at hotels, convention centers, hospitals, universities, and corporate campuses, with the remainder generally located in strip malls, office buildings, Walmart stores, and stand-alone structures.

FedEx Office’s customer-facing stores average approximately 3,200 square feet in size.

FedEx Logistics Operating Segment

FedEx Logistics’s corporate headquarters are located in Memphis, Tennessee and FedEx Supply Chain’s corporate headquarters are located in the Pittsburgh, Pennsylvania metropolitan area.

As of May 31, 2025, FedEx Logistics operated approximately 110 offices and facilities in 34 countries and territories throughout North America and in Africa, Asia-Pacific, Europe, India, Latin America, the Middle East, and Australia/New Zealand.

In addition, as of May 31, 2025, FedEx Supply Chain had 80 facilities through which it operated its supply chain logistics services.

FedEx Supply Chain

FedEx Supply Chain’s corporate headquarters are located in Memphis, Tennessee.

As of May 31, 2026, FedEx Supply Chain operates over 150 facilities.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties