GlobeNewswire Inc | Aug 2, 2021 07:00AM EDT

August 02, 2021

GREENWICH, Conn. , Aug. 02, 2021 (GLOBE NEWSWIRE) -- XPO Logistics, Inc. (NYSE: XPO) today announced that it has completed the previously announced spin-off of GXO Logistics, Inc., creating two independent, publicly traded companies. XPO is a leading provider of freight transportation services, primarily less-than-truckload transportation and truck brokerage services, and GXO is the largest pure-play contract logistics provider in the world. XPO shares will continue to trade on the New York Stock Exchange under the symbol XPO and, effective today, GXO will begin regular way trading on the NYSE under the symbol GXO.

Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, With the timely completion of our spin-off, XPO and GXO are moving forward with powerful momentum as independent public companies. I want to thank the many people whose work over the past eight months has made this initiative a reality. Weve given both businesses a clear line of sight to unlocking their full potential.

The separation was completed through a distribution to XPO stockholders of one share of GXO common stock for every one share of XPO common stock held as of the close of business on the record date for the distribution, July 23, 2021. GXO shares were distributed at 12:01 a.m. Eastern Time on August 2, 2021 in a distribution that is intended to be tax-free to XPO stockholders for U.S. federal income tax purposes.

Goldman Sachs & Co. LLC acted as financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor in connection with the separation.

About XPO LogisticsXPO Logistics, Inc. (NYSE: XPO) is a leading provider of freight transportation, primarily a top-three provider of truck brokerage and less-than-truckload (LTL) capacity in North America. XPO helps companiesto de-risk their supply chains by moving their goods using cutting-edge technology. XPO Connect, the companys proprietary automated freight marketplace, is one of the fastest-growing digital brokerage platforms in the industry. XPO provides capacity at scale to 50,000 shippers through a global network of 744locations and approximately 40,000 employees. The company is headquartered in Greenwich, Conn., USA. Visitxpo.comfor more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding benefits of the contemplated spin-off transaction, as well as the expected performance of the company after the spin-off. Any forward-looking statements contained herein are based on our managements current beliefs and expectations, but are subject to a number of risks, uncertainties and changes in circumstances, which may cause the companys actual results or actions to differ materially from what is expressed or implied by these statements. Such risks include, but are not limited to: uncertainties as to the impact of the spin-off on the companys business, as well as the disclosure contained under the heading Risk Factors in the companys filings with the U.S. Securities and Exchange Commission. We disclaim any obligation to update these forward-looking statements other than as required by law.

Investor ContactTavio Headley+1-203-413-4006tavio.headley@xpo.com

Media ContactJoe Checkler+1-203-423-2098joe.checkler@xpo.com