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CN Update on March Grain Movement

1. CNI records 2.85M metric tonnes of grain moved, a monthly record. 2. Improvements after extreme cold weather allow traffic volumes to normalize. 3. New record achieved through collaboration across the grain supply chain.

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FAQ

Why Bullish?

Increased grain movement signals strong operational recovery post-winter challenges, boosting investor confidence. Historical trends show operational efficiency positively correlates with stock performance, particularly post-record announcements.

How important is it?

The article highlights significant operational achievements, which directly affect CNI's financial outlook and investor sentiment.

Why Short Term?

The immediate results from operational improvements can boost stock prices quickly, as seen in past quarterly performance recoveries.

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CNRCPNSCCSX
April 03, 2025 16:30 ET  | Source: Canadian National Railway Company MONTREAL, April 03, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today it moved more than 2.85 million metric tonnes of grain from Western Canada and 2.98 million metric tonnes nationally, establishing new monthly records. This performance is a direct result of close collaboration with customers to recover from the extreme cold weather experienced in Western Canada in January and February, which required safety-related train length restrictions. "Our team remains focused on delivering for Canadian farmers and our grain industry customers. We can only achieve record grain movements with close collaboration across all parts of the supply chain." Remi G. Lalonde, Executive Vice-President and Chief Commercial Officer at CN About Winter Operations and Train LengthsTrain length restrictions are necessary during periods of extreme cold to ensure operational safety and adherence to Transport Canada regulations. When temperatures fall below -25°C, train length must be reduced. Shorter trains mean more people and equipment are required to move to the same amount of goods. Train length restrictions were applied for an unprecedented number of consecutive days for much of January and the first three weeks of February, as Western Canada faced unrelenting extreme cold weather. As the weather has improved, CN’s traffic volumes have returned to normal and the Company continues to work around the clock to meet customer needs. Under optimal conditions, the grain supply chain can support up to 7,800 cars per week (744,000 metric tonnes) outside of winter and up to 6,250 cars per week (595,000 metric tonnes) during winter. Being able to achieve these capacity levels depends on several critical factors, including balanced corridor flows, continuous operations at grain and export facilities, and the absence of major disruptions such as extreme weather, labor issues, or trade instability. 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: MediaInvestment CommunityAshley MichnowskiStacy AldersonSenior ManagerAssistant Vice-PresidentMedia RelationsInvestor Relations(438) 596-4329media@cn.ca(514) 399-0052investor.relations@cn.ca

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