CNR Canadian National Railway Company

CN (TSX: CNR) (NYSE: CNI) and Iowa Northern Railway Company officially joined their operations on March 1, 2025, as previously authorized by the U.S. Surface Transportation Board.

With the closing of this transaction, CN and Iowa Northern can begin integrating their two railroads to better serve customers, the Iowa economy and communities along the network.

“This additional investment in the United States underscores our dedication to delivering outstanding rail service while driving economic growth. CN customers and partners along this network will benefit from single-line service offering new options and access to new markets.”

– Tracy Robinson, President and Chief Executive Officer, CN

“Today we celebrate this important milestone, as we welcome the Iowa Northern team into our CN family of railroaders. Both CN and Iowa Northern have built their reputations on putting safety first, and by delivering innovative, sustainable and reliable transportation solutions to our customers.”

– Derek Taylor, Executive Vice-President and Chief Field Operating Officer

The merging of Iowa Northern’s 175 route miles with CN’s nearly 20,000-mile rail network will offer single-line service to seamlessly connect grain, fertilizer, renewable fuels, and industrial markets to CN’s North American network.

CN Forward-Looking Statements Certain statements by CN included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words. Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

About CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

Contacts:
Media	Investment Community
Ashley Michnowski	Stacy Alderson
Senior Manager	Assistant Vice-President
Media Relations	Investor Relations
(438) 596-4329media@cn.ca	(514) 399-0052investor.relations@cn.ca