FedEx and TNT Express Jointly Confirm Further Extension of Acceptance Period for Public Offer

The further extension of the Acceptance Period complies with a dispensation (ontheffing) granted to the Offeror by the AFM.

Competition Clearances Status

The Acceptance Period has been extended because the Offer Condition with respect to Competition Clearances was not fulfilled upon expiration of the Acceptance Period at 17:40 hours CET on January 8, 2016.

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. Currently, clearances have been obtained from the relevant competition authorities in the United States and, as announced earlier today, the EU.

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.

Further Communications

FedEx will make public announcements if and when Competition Clearance in China and/or Brazil is obtained and if and when the Offer Condition with respect to Competition Clearances is satisfied, waived or has become incapable of being satisfied. The announcement that the Offer Condition with respect to Competition Clearances has been satisfied or waived, if made, will include the end date of the Acceptance Period, which will be two weeks following the date such Offer Condition is fulfilled, but not later than June 6, 2016 (17:40 hours CET). The Offeror confirms that the Offer Document is up to date in all material respects in the sense that it contains all material information required for shareholders to adequately consider the Offer. For the avoidance of doubt, the dispensation of the AFM only pertains to the aforementioned further extension of the Acceptance Period and all other relevant provisions of the Decree and the DFSA remain applicable.

Tendered Shares

During the extended Acceptance Period, Shares and American depositary shares representing ordinary shares tendered prior to the date of this press release may be withdrawn in accordance with Section 5.3.7 (Withdrawal Rights) of the Offer Document. Any Shares and American depositary shares representing ordinary shares tendered prior to the date of this press release which are not withdrawn will remain subject to the Offer.

As a result of the adoption of the Asset Sale and Liquidation Resolutions and the Conversion Resolution at the TNT Express EGM of October 5, 2015, under the terms and subject to the conditions of the Offer, the minimum acceptance condition will be 80% (and not 95%) of TNT Express' aggregate issued and outstanding ordinary share capital, on a fully diluted basis, as of the time and date on which the Offer expires, including any Shares held by the Offeror or its affiliates. To date the Offeror or its affiliates do not hold any Shares in the share capital of TNT Express.

Long Stop Date

As set out in the Offer Document, FedEx and TNT Express have agreed a final date in respect of the satisfaction of the Offer Conditions, which is set at June 6, 2016 (Long Stop Date). In the event that the Offer Condition relating to Competition Clearances is not satisfied or waived by the Long Stop Date, TNT Express shall be entitled to terminate the Merger Protocol. For the avoidance of doubt, the Offer is extended until two weeks following the satisfaction or waiver of the Offer Condition with respect to Competition Clearances, but no later than June 6, 2016.