OREANDA-NEWS. This is a joint press release by FedEx Corporation and TNT Express pursuant to Section 7 paragraph 1 sub a of the Decree on Public Takeover Bids (Besluit Openbare Biedingen Wft, the Decree) in connection with the intended public offer by FedEx Corporation for all the issued and outstanding ordinary shares in the capital of TNT Express N.V. 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. Any offer will be made only by means of an offer document. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, Canada.

Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree requiring a public announcement within four weeks following the announcement of an intended public offer to provide a status update, FedEx and TNT Express provide the following joint update.

FedEx and TNT Express confirm that the companies are making timely progress on the preparations for the Offer. FedEx expects to submit a request for review and approval of its Offer Document with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiele Markten, AFM) in any event before June 30, 2015, which is the date by which under Dutch law a request for approval must be submitted to the AFM.

In addition, FedEx and TNT Express confirm that the process to obtain the required regulatory merger control approvals for the Offer is proceeding without delays. The Offer will be conditional upon FedEx obtaining the required competition clearances in the European Union, China, Brazil and, to the extent applicable, the United States of America. FedEx and TNT Express remain confident that substantive anti-trust concerns, if any, can be addressed adequately and in a timely fashion. Although FedEx and TNT Express aim to obtain the required regulatory clearances as soon as possible, it is noted that completing the formal clearance procedures could take up to one year. As such, it may be required to obtain an exemption from the AFM to (further) extend the offer period.