Renewed Partnership Between Iconic Railroad and Only Remaining Dedicated Steel Rail Supplier in the United States

Contract Represents a Significant Commitment to Domestic Steel Production, the United Steelworkers and the Historic Steel Town of Pueblo, Colorado

Union Pacific Railroad (NYSE:UNP) and Rocky Mountain Steel Mills ("Rocky Mountain Steel") announced today they have reached a new, seven-year contract for the domestic production of steel rails, underscoring Union Pacific's clear commitment to buying the majority of its rail from a United States manufacturer. Rocky Mountain Steel, located in Pueblo, Colorado, is the only remaining dedicated rail production facility in the United States and one of the largest producers of steel products in North America. Steel made for Union Pacific, and all Rocky Mountain Steel customers is produced by members of the United Steelworkers (USW).

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Union Pacific has been using steel rail from the mill at Rocky Mountain Steel since the early 1890s. This renewed commitment by Union Pacific underscores their commitment to Rocky Mountain Steel, now operating under new ownership and management, as well as the skilled workers of the USW and the historic steel community in Pueblo. The agreement ends any pending legal disputes between the companies, as Union Pacific has withdrawn its previously filed lawsuit in Nebraska.

Rocky Mountain Steel expects to begin operations this year at a new, state-of-the-art long rail mill, constructed with a more than $1 billion investment in domestic steel production. The new mill will ensure Pueblo will remain the only dedicated steel rail mill in the United States, operating one of the most advanced rail production lines in the world.