Surface Transportation Board Unanimously Rejects Opponents’ Requests to Dismiss Merger Application Without Review

SMART-MD Jobs-for-Life Agreement Underscores Commitment to Employees

Union Pacific Corporation (NYSE:UNP) and Norfolk Southern Corporation (NYSE:NSC) today acknowledged two significant milestones in the creation of America’s first transcontinental railroad, which will eliminate time-consuming interchanges between railroads and strengthen the nation’s supply chain.

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The Surface Transportation Board (STB) has unanimously denied merger opponents’ requests to dismiss the companies’ revised merger application. With the rejection of these requests, the board can continue its review of the most comprehensive merger analysis ever submitted in support of a major rail transaction. The facts as evidenced in the application are clear: a seamless, coast-to-coast railroad will provide customers more efficient and affordable freight transportation options and remove more than 2 million truckloads from taxpayer-funded highways.

Additionally, the International Association of Sheet Metal, Air, Rail and Transportation’s Railroad Mechanical Department (SMART-MD) has entered a jobs-for-life agreement with the railroads, reflecting a shared commitment to protecting represented jobs and preserving work opportunities. With SMART-MD’s support, the merger has support from a majority of unions representing Union Pacific and Norfolk Southern employees.