Expeditors discusses CEO transition, tariff impact on China trade in Q&A

EXPEDITORS INTERNATIONAL OF WASHINGTON INC

CEO transition from Musser to Wall continues; strategic planning process ongoing with no restart.
Customs Brokerage generated ~50% of consolidated gross profit in Q1 2025 and FY 2024.
China-to-U.S. ocean volumes declined in March; 90-day tariff pause effective May 14 may affect trends.
Management cannot quantify how much Q1 strength was front-loading vs. underlying demand.
Reaffirms 30% efficiency target as realistic base expectation despite expense increases.

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