Subject: RE: XPO Logistics and FEDEX [I] From: Martin Zeman < II> Date: Tue, 06 Mar 2018 11:51:42 -0500 To: Stewart Oldfield ‹ > Classification: For internal use only I know but I just personally know nada about them. I think selling puts and collecting premium on all 3 would make sense for him. He really is not in that industry at all. From: Stewart Oldfield Sent: Tuesday, March 06, 2018 11:48 AM To: Martin Zeman ‹ > Subject: RE: XPO Logistics and FEDEX KNX is his other top pick fyi From: Martin Zeman Sent: Tuesday, March 06, 2018 11:45 AM To: 'Paul Barrett Cc: Joshua Shoshan < Xavier Avila > Subject: XPO Logistics and FEDEX Paul, )1 a> ; Davide-A Sferrazza <davide- >; Stewart Oldfield Please see attached 1-pager published two weeks ago (and also a more detailed report on the industry). Our analyst is really bullish on FEDEX and XPO and doesn't like UPS which really got beat up last few weeks. EFTA01433952