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CSX Announces Tentative Labor Agreement with Boilermakers

1. CSX secured a five-year tentative labor agreement with the IBB. 2. New terms include improved wages, health care, and paid time off. 3. Agreement covers 59 members; ratification required from union members. 4. CSX has agreements with 11 unions, covering 47% of its workforce. 5. Commitment to employee empowerment and safety emphasized by CEO.

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FAQ

Why Bullish?

Labor stability generally supports operational efficiency, potentially benefiting CSX’s stock price.

How important is it?

Ratifying labor agreements is crucial for CSX, impacting operational capabilities and employee morale, which can drive stock performance.

Why Short Term?

Immediate impacts on workforce stability and morale may influence CSX’s operational output soon.

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JACKSONVILLE, Fla., March 25, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced it has secured a new five-year tentative collective bargaining agreement with the International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers & Helpers (IBB). “The agreement with IBB reinforces CSX's ongoing commitment to valuing and empowering employees,” said Joe Hinrichs, President and CEO of CSX. “It reaffirms our team’s shared promise to prioritize safety, respect, and excellence as ONE CSX as we work collaboratively to better serve our customers.” The tentative agreement is subject to ratification by the union’s membership at CSX, accounting for 59 members. To date, CSX has ratified agreements with 11 labor unions, covering 14 different work groups, accounting for 47 percent of its unionized workforce. The terms of the agreements are aligned, providing equivalent packages of improved wages, health care, and paid time off benefits. CSX remains committed to working with other unions and crafts to reach similar agreements and continuing to partner with employees to make meaningful improvements in their work environment. About CSX CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://facebook.com/OfficialCSX) and follow us on X, formerly known as Twitter (http://twitter.com/CSX). Contact: Matthew Korn, CFA, Investor Relations904-366-4515 Bryan Tucker, Corporate Communications 855-955-6397

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