CNI Canadian National Railway Co

CN (TSX: CNR) (NYSE: CNI) is pleased to be recognized by the 2024 S&P Global Yearbook as one of the top sustainability performers in the transportation industry. CN was also recognized for its leadership on climate change by global environmental non-profit CDP. CN’s achievements reflect the Company’s steadfast dedication to environmental stewardship, social responsibility and good governance underpinned by consistent and comprehensive reporting.

“Our commitment to Delivering Responsibly leads the way forward for us as an organization. We are honoured to be recognized for our leadership as we work to build a more sustainable future. Our achievements and recognitions are not possible without the dedicated team of railroaders who embed safety and sustainability in every decision.” - Tracy Robinson, President and Chief Executive Officer at CN

CN Releases Ninth Delivering Responsibly ReportIn late 2023, CN published its latest biennial sustainability report which provided a comprehensive update on CN’s sustainability strategy and performance. In the report, CN detailed its approach to sustainability in the areas of environment, safety, people, community, and governance. CN’s latest report, available online, was prepared in accordance with leading sustainability reporting frameworks, including the Sustainability Accounting Standards Board and the Global Reporting Initiative.

CN’s ESG RatingsA list of CN’s key ESG ratings is highlighted below:

Rating Agency	Score / Ranking	Details of Score / Ranking
S&P Global 2023	Sustainability Yearbook Member	Listed on the Dow Jones Sustainability World Index for 12 consecutive years and on the DJSI North American Index for 15th straight year.
CDP - Climate Change	A-	Earned a leadership score for our dedication to corporate transparency and performance on tackling climate change.
The Globe and Mail	1	Earned 1st place out of 219 companies listed on the S&P/ TSX Composite Index in 2023 for corporate governance with a score of 98% by the Globe and Mail.
MSCI ESG 2023	AA	Highest ranked Class I railroad in North America.Measurement of resilience to long-term, industry material ESG risks on a relative ranking from AAA being the best to CCC being the worst.
Corporate Knights Best 50 2023	Rank 7 / B+	Earned a spot for the 15th time in a row as one of the Best 50 Corporate Citizens in Canada by Corporate Knights.

Note: ESG ratings are as of February 12, 2024

To learn more about how CN is working towards a more sustainable future, please visit https://www.delivering-responsibly.cn.ca/.

About CNCN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. CN's network connects Canada’s Eastern and Western coasts with the U.S. South through an 18,800-mile rail network. CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.

Forward-Looking StatementsCertain statements included in this report constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to CN. This forward-looking information also includes but is not limited to, statements relating to our environmental, social and governance (ESG) strategies and targets, including our climate goals and sustainability commitments. 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 are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements include, but are not limited to, general economic and business conditions, including factors impacting global supply chains such as pandemics and geopolitical conflicts and tensions; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings and other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; the availability of and cost competitiveness of renewable fuels and the development of new locomotive propulsion technology; reputational risks; supplier concentration; pension funding requirements and volatility and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis (MD&A) in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN.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.

Contacts:
Media	Investment Community
Jonathan Abecassis	Stacy Alderson
Director	Assistant Vice-President
Public Affairs and Media Relations	Investor Relations
(438) 455-3692	(514) 399-0052
media@cn.ca	investor.relations@cn.ca