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NORFOLK SOUTHERN IS DELIVERING a Better WAY

Under the leadership of CEO Alan Shaw and the oversight of Norfolk Southern’s board, we are building a more resilient, productive railroad to deliver long-term shareholder value.

Learn more through our recently issued presentation

Our Strategy is Taking Hold

Building on the actions we have taken to strengthen our business and protect our franchise, Norfolk Southern is delivering on our commitments:

Top-tier earnings and revenue growth

Industry-competitive margins

Disciplined capital allocation

Through the successful execution of our balanced strategy, we are on a clear and achievable path to close the margin gap with our peers:

(click to expand)

Operational Improvements Are Yielding Results

*Q2 2024 Through April 21

“I remember the promises you made on this show, and I have followed up and you have delivered on all those promises and more. And I think that’s really important.”

Jim Cramer
3.27.24

The Norfolk Southern Annual Meeting of Shareholders will be held virtually on May 9, 2024

The Norfolk Southern Board of Directors unanimously recommends that you vote:

THE WHITE PROXY CARD For only Norfolk Southern’s 13 nominees:

Richard H. Anderson
Philip S. Davidson
Francesca A. DeBiase
Marcela E. Donadio
Mary Kathryn “Heidi” Heitkamp
John C. Huffard, Jr.
Christopher T. Jones
Thomas C. Kelleher
Amy E. Miles
Claude Mongeau
Jennifer F. Scanlon
Alan H. Shaw
John R. Thompson

Meet Your Board’s Nominees

YOUR BOARD OF DIRECTORS OPPOSES THE ELECTION OF ANCORA’S 7 NOMINEES. PLEASE SIMPLY DISCARD ANY BLUE PROXY CARD YOU MAY RECEIVE FROM ANCORA.

Vote the WHITE Proxy Card

How to Vote

If you have any questions or require any assistance with respect to voting your shares, please contact our proxy solicitor:

Innisfree M&A Incorporated

Shareholders
1 (877) 750-9496 (toll-free from the U.S. and Canada)
+1 (412) 232-3651 (from other countries)

Banks and Brokers
1 (212) 750-5833 (collect)