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1、&2022 Annual Report on Form 10-KNotice of 2023 Annual Meeting of Shareowners and Proxy Statement2022 was a record year for UPS in many ways.For the first time in our 115-year history,UPS generated more than$100 billion in consolidated revenue.Additionally,our consolidated adjusted*operating margin r

2、eached 13.8%,the highest in 15 years,and adjusted*return on invested capital was 31.3%,up 50 basis points from 2021.We achieved these results,and much more,due to the hard work and efforts of our more than 500,000 employees and the outstanding service they provided to our customers.I continue to be

3、impressed by the resiliency of our people and their commitment to moving our world forward by delivering what matters.As the calendar year ended,I reflected on 2022 and how much changed during the year.We experienced geopolitical tensions including a war,high global inflation,Chinas pivot away from

4、its zero-COVID policy and consumers return to pre-pandemic shopping behaviors,all of which meant global supply chains had to continually adjust.But no matter what came our way,we stayed on strategy Customer First,People Led,Innovation Driven.By executing our strategy and controlling what we could co

5、ntrol,we delivered for our customers and shareowners in 2022.Here are some highlights:Grew small and medium-sized business(SMB)volume to 28.0%of total U.S.volume,driven by continued expansion of our Digital Access Program(DAP)and the launch of Deal Manager.Delivered excellent service to our customer

6、s around the globe,anchored by the fifth consecutive year of industry-leading service in the U.S.Increased the efficiency of our network by adding our 8th regional hub in the U.S.and implemented Total Service Plan to enable an on-time U.S.network.Opened our largest natural gas fueling station within