Fedex Corp

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,

Trust Indenture Act of 1939 and Indenture*

*This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture.

Section 2.02 Form of Trustee's Certificate of Authentication 13

Section 2.03 Form of Trustee's Certificate of Authentication by an Authenticating Agent 14

Section 3.01 Amount Unlimited; Issuable in Series 14

Section 3.03 Execution, Authentication, Delivery and Dating 17

Section 3.07 Mutilated, Destroyed, Lost and Stolen Securities 25

Section 3.08 Payment of Interest; Interest Rights Preserved 26

Section 3.11 Currency of Payments in Respect of Securities 27

Section 4.01 Applicability of Right of Redemption 28

Section 4.02 Selection of Securities to be Redeemed 29

* The Table of Contents is not a part of the Indenture.

Section 4.04 Deposit of Redemption Price 30

Section 4.05 Securities Payable on Redemption Date 30

Section 4.06 Securities Redeemed in Part 31

Section 5.01 Applicability of Sinking Fund 31

Section 5.02 Mandatory Sinking Fund Obligation 31

Section 5.03 Optional Redemption at Sinking Fund Redemption Price 32

Section 5.04 Application of Sinking Fund Payment 32

Section 6.02 Maintenance of Office or Agency 33

Section 6.03 Money for Securities Payments to Be Held in Trust 34

Section 6.05 Waiver by Holders of Securities 36

Section 7.01 Company May Consolidate, Etc. on Certain Terms 37

Section 7.02 Successor Person Substituted 37

Section 8.02 Acceleration; Rescission and Annulment 39

Section 8.03 Collection of Indebtedness and Suits for Enforcement by Trustee 40

Section 8.04 Trustee May File Proofs of Claim 41

Section 8.05 Trustee May Enforce Claims Without Possession of Securities 42

Section 8.06 Application of Money Collected 42

Section 8.08 Unconditional Right of Holders to Receive Principal, Premium and Interest 43

Section 8.09 Restoration of Rights and Remedies 43

Section 8.10 Rights and Remedies Cumulative 43

Section 8.11 Delay or Omission Not Waiver 43

Section 9.01 Evidence of Action of Securityholders 44

Section 9.02 Proof of Execution or Holding of Securities 45

Section 10.02 Call of Meetings by Trustee 46

Section 10.03 Call of Meetings by Company or Securityholders 47

Section 10.04 Qualifications for Voting 47

Section 10.07 No Delay of Rights by Meeting 48