EXPEDITORS INTERNATIONAL OF WASHINGTON INC

In addition to the other information set forth in this report, careful consideration should be given to the risk factors under Item 1A Risk Factors in our Annual Report on Form 10-K filed on February 25, 2026. There have been no material changes in Expeditors' risk factors from those disclosed under Item 1A Risk Factors in our annual report on Form 10-K filed on February 25, 2026.

ISSUER PURCHASES OF EQUITY SECURITIES

(shares in thousands, dollars in millions, except per share amounts)

1 Repurchases are being executed from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases including through a Rule 10b5-1 plan.

2 Average price paid per share includes transaction costs associated with the repurchases.

Expeditors maintains a discretionary share repurchase program originally authorized by the Board of Directors in 2001 and subsequently amended from time to time. The prior program, most recently amended on February 19, 2024, authorized repurchases sufficient to reduce outstanding common shares from 140 million to 130 million and expired on July 1, 2026, when outstanding common shares reached 130 million. During July 2026, the Company repurchased 21 shares under the prior program before its expiration. Pursuant to Board authorization on February 23, 2026, a new share repurchase program became effective upon expiration of the prior program and permits the use of up to $3.0 billion toward the repurchase of the Company's common stock. During July 2026, the Company repurchased 639 shares under the new program. The new program has no set expiration date and may be terminated by the Board at any time.