Shawn Will

The annual meeting of shareholders includes the presentation of consolidated financial statements and auditor reports. Key agenda items involve the election of directors, the appointment of an auditor, and advisory votes on the company's approach to executive compensation and its climate action plan.

The meeting provided an overview of the company's financial performance, including a review of consolidated financial statements, revenue ton miles, operating ratios, free cash flow, and capital investments. Key agenda items included the election of directors, appointment of auditors, an advisory vote on executive compensation, and an advisory vote on the company's Climate Action Plan aimed at reducing greenhouse gas emissions. The presentation also addressed forward-looking statements, economic assumptions for the upcoming year, and non-GAAP performance measures, followed by a question period.

The agenda for the meeting includes the presentation of consolidated financial statements and auditors' reports, the election of directors, and the appointment of auditors. Additionally, shareholders will participate in advisory, non-binding votes regarding the company's approach to executive compensation and its Climate Action Plan.

This Annual Information Form for Canadian National Railway Company provides an overview of its business, operations, and financial status for the year 2025. It outlines the company's strategic principles, focusing on powering the economy through sustainable and efficient global supply chains, service excellence, business growth, investment in personnel, disciplined capital allocation, and responsible operations anchored in environmental stewardship, safety, community, and governance. The document also details recent acquisitions, financial management initiatives, regulatory compliance, and various corporate policies.

This document, the CN Winter Plan, is a Transport Canada-mandated report detailing CN's comprehensive strategy to ensure safe and reliable railway operations during challenging winter conditions. It focuses on continuous preparation, significant capital investments in infrastructure and fleet modernization, technological innovation, and a well-trained workforce. Key pillars include enhancing network reliability and performance through infrastructure upgrades, locomotive modernization, and rolling stock renewal; ensuring safety through employee training and customer collaboration; and optimizing customer service and supply chain fluidity through proactive planning, resource management, and advanced data analytics. The plan aims to mitigate risks from extreme cold, snow, ice, and rain, thereby keeping the North American economy moving efficiently throughout the winter season.