RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

The company believes that meaningful analysis of our expected financial performance requires an understanding of the factors underlying that expected performance and our judgments about the likelihood that particular factors will repeat. Excluding the costs associated with the company’s voluntary cash buyouts will allow for more accurate comparisons of our expected operating performance. As required by SEC rules, the table below presents a reconciliation of our presented non-GAAP measure to the most directly comparable GAAP measure.
   

FY 2013 Diluted EPS Guidance

Non-GAAP Measure

$6.20 to $6.60

Voluntary Buyout Program

1.29 to 1.09

GAAP Measure

$4.91 to $5.51
 

The financial section of this release is provided on the company's website at investors.fedex.com.

Copyright Business Wire 2010

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