FedEx announces NIL program for University of Memphis student-athletes

MEMPHIS, April 19, 2024 - Today, FedEx Corp. (NYSE: FDX) announced an NIL (Name, Image and Likeness) program benefiting University of Memphis student-athletes. FedEx will invest $5M per year for the next five years in University of Memphis student-athletes who will be promoting FedEx initiatives, with the program initially centered around football, men's and women's basketball, and additional women's sports.

FedEx, whose world headquarters is located in Memphis, is introducing the NIL model at its hometown university to further bolster its longstanding relationship with the University of Memphis athletic department. With support from national industry experts Altius Sports Partners, this NIL activity is part of a robust sports sponsorship portfolio that also includes supporting FedExForum, the FedEx/St. Jude Championships, the Southern Heritage Classic, and the AutoZone Liberty Bowl, all in Memphis.

"We evaluated the evolving NIL landscape, exploring how we can best deliver positive impact to student-athletes and connect them to meaningful opportunities for both themselves and the community and made the decision to reallocate marketing funds to an NIL platform," said Brian Philips, EVP & CMO at FedEx. "This gives us an opportunity to invest in bright, young athletes in our great hometown of Memphis, strengthening our connection to the next generation of leaders."

FedEx will host its first in-person NIL initiative at the University of Memphis' Spring Football Game on Saturday, April 20, enhancing the event with a tailgate experience. FedEx will have many initiatives throughout the year that will utilize student-athletes, capitalizing on their name, image, and likeness through social media programs, in-person events, and FedEx Cares initiatives.

"We are truly appreciative of the vision and support of FedEx's leadership in this area," said Laird Veatch, University of Memphis vice president and director of Intercollegiate Athletics. "NIL opportunities have become a crucial facet of the student-athlete dynamic, and we believe major corporate support of NIL will need to be a key part of the future landscape of college athletics. We are confident this groundbreaking commitment by one of the world's most well-known and successful companies will inspire others in Tiger Nation to realize the power of investing in student-athletes and join the mission with further support."

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $88 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally as one FedEx. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

About the University of Memphis

The University of Memphis (UofM) is a comprehensive, internationally recognized, urban public research university preparing students for success in a diverse, innovative, global environment. Student success, service, innovation, diversity and inclusion, collaboration and accountability are core values at the University of Memphis. The University is classified as "Carnegie R1" or "Doctoral: Very High Research Activity and Community Engaged" per the Carnegie Classification for Institutions of Higher Learning. With a focus on research and service benefitting communities locally and across the globe, we are home to nationally designated centers of excellence in cybersecurity research and education, transportation workforce development, mobile health data and five Tennessee centers of research excellence. The UofM is dedicated to providing the highest quality of education to a diverse student body that includes members who are of all ages, racial and ethnic heritages and economic backgrounds (including a significant proportion of students who are Pell-eligible), as well as veterans and first-generation college students. Academic degree programs at the undergraduate, master's, doctoral and professional levels as well as certificate programs are offered on the main campus in Memphis, the Lambuth campus in Jackson, and through UofM Global. The UofM awards approximately 4,700 degrees and certificates annually. Talented and innovative faculty have developed both undergraduate and graduate programs that are ranked in the top 25 nationally. Our metropolitan setting has enabled us to build a nationally recognized internship program that facilitates the placement of undergraduate and graduate students throughout the community in nonprofit and for-profit organizations that specialize in healthcare, government, transportation and logistics, music and entertainment, medical devices, banking and the arts.