On February 26, 2024, Norfolk Southern Corporation filed preliminary proxy materials with the Securities and Exchange Commission (SEC) in connection with its upcoming 2024 Annual Meeting of Shareholders which is available on the Investor Relations section of the Norfolk Southern website at www.norfolksouthern.com. In connection with the filing, the Norfolk Southern Board of Directors: i) Announced its slate of 13 nominees Philip S. Davidson, Francesca A. DeBiase, Marcela E. Donadio, John C. Huffard, Jr., Christopher T. Jones, Thomas C. Kelleher, Amy E. Miles, Claude Mongeau, Jennifer F. Scanlon, Alan H. Shaw, and John R. Thompson for the 2024 Annual Meeting, including 2 new, independent director candidates Richard H. Anderson, and Mary Kathryn, ii) Confirmed its unanimous support for the company's strategy that balances safe and reliable service, continuous productivity improvement and smart growth under the leadership of CEO Alan H. Shaw. The strategy is designed to deliver top-tier EPS and revenue growth at industry-competitive margins, iii) Rejected Ancora's control slate of 8 nominees as well as its short-sighted strategy.

The Company added that Board and management team have engaged extensively with Ancora, including interviewing and considering each of its nominees and has initiated multiple attempts to reach a reasonable resolution that is in the best interests of all shareholders. The Company recommended shareholders to vote for its nominees on the white card and discard any blue proxy card sent by Ancora.