In 40 years of doing business, we've experienced dynamic economic, social and technological changes few could have envisioned. Yet, we've stayed the course, guided by a steadfast commitment to our customers, team members and shareowners. Regardless of what's happening in the world, you can count on FedEx to approach our business as we always have: moving in many directions to connect the world, whether it's adjusting our networks to meet customers' needs or by providing more innovative and sustainable ways of working.

North. South. East. West –– they point in one direction. Forward.

Forward Thinking

To our shareowners,
In FY13, we took aggressive action to boost future profitability and better align our global networks with customer demand in a sluggish world economy. I am pleased to say the profit improvement programs we announced in October 2012 are on track and ahead of schedule in
many areas.

Read the Chairman's letter Download the full Chairman's letter

Watch Chairman, President and CEO Fred Smith discuss FY13 results and plans to boost
future profitability.

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Online Shopping: Fuel For Growth

The largest driving force in the global economy is e-commerce, which is projected to reach $1 trillion in sales by 2016. The internet shopping boom is translating into significant growth at FedEx, and it's easy to see why. Our specialized e-commerce services and tools are helping transform the U.S. retail industry, where online sales are growing more than three times faster than offline sales.

Two notable changes are powering this trend, according to Forrester Research: Mobile devices, such as smartphones and tablets, make it easier for shoppers to access the web on the go (accounting for 11 percent of online transactions, says comScore). And rather than risk losing sales to competitors, traditional retailers are heavily investing in their web divisions.

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Watch how Katie Echeverry's online fashion business was transformed into a global showstopper.

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Innovation: Future Forward

What do information technology, sustainability and customer solutions have in common? At FedEx, the answer
is innovation.

It's a state of mind that connects everything we do. Innovation not only makes life easier for customers, but it also helps us work more efficiently and reduces our environmental impact on the planet. Our commitment to a creative, open culture propels the development of ideas, services and solutions that help our customers compete worldwide.

Whether it's biofuel research or speedy, same-day delivery in select metro areas, we approach innovation as a disciplined, strategic business practice. It makes us even more competitive while saving millions of dollars for years
to come.

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See how innovative EarthSmart® solutions help move businesses forward without leaving the planet behind.

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The Access Effect: Organic India

Good things happen when FedEx provides greater access to markets and opportunities. Businesses prosper and grow; jobs increase; and people's lives improve. Farmers and villagers in northern India know firsthand what
this means.

When Krishan Guptaa, CEO of Organic India, rejuvenated a once-struggling brand by relaunching it in the global marketplace, he was able to pay higher wages to farmers who grew tea and herbs to supply his operations. Today, the Organic India Foundation provides free healthcare to thousands of local villagers. The chart to the right shows how much the Organic India Foundation helped local villagers in just one month.

Tea and herbal supplement maker Organic India is growing at a 40-percent clip, thanks to an energetic export strategy.

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Powering Possibilities

When people connect with each other, anything is possible. Fair and open trade unleashes innovation — the power of technology, transportation, information and ideas to compound and multiply. By making it easier to bring new ideas to new markets, everyone benefits.

Certain statements in this online annual report may be considered forward-looking statements, such as statements relating to management's views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate, legal challenges or changes related to FedEx Ground's owner-operators, new U.S. domestic or international government regulation, the impact from any terrorist activities or international conflicts, our ability to effectively operate, integrate and leverage acquired businesses, our ability to execute our business realignment program, changes in fuel prices and currency exchange rates, our ability to match capacity to shifting volume levels and other factors which can be found in FedEx Corp.'s and its subsidiaries' press releases and filings with the SEC.