Ancora Receives Support from the Brotherhood of Maintenance of Way Employees Division of the International Brotherhood of Teamsters For A Change in Leadership at Norfolk Southern

Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today announced that its seven candidates (the “Shareholder Slate”) for election to the Company’s 13-member Board of Directors (the “Board”) have received support from the Brotherhood of Maintenance of Way Employees Division of the International Brotherhood of Teamsters (“BMWED Teamsters”). The nominees have collectively expressed their gratitude to the union.

Following the BMWED Teamsters’ announcement, proposed CEO Jim Barber stated: “It’s a tremendous vote of confidence to gain the support of the BMWED Teamsters – they are going to be a critical partner as we work to build a more efficient, safer and sustainable railroad. With all that the BMWED Teamsters’ members have riding on a successful turnaround of Norfolk Southern, I’m glad that we were able to meet, speak and align on fundamental principles about how we’re going to move Norfolk Southern forward.”

Proposed COO Jamie Boychuk added: “Both Jim Barber and I are former union members. We started our careers with union membership – Jim at UPS and me at Canadian National Railway. We’re excited about the opportunity to collaborate with the BMWED Teamsters, and all Norfolk Southern employees, to deliver sustainable, long-term value creation for our shareholders and stakeholders.”

The 2024 Annual General Meeting of Norfolk Southern is scheduled for May 9, 2024. Shareholders of Norfolk Southern are advised to carefully read the proxy statements that are available at www.SEC.gov or www.MoveNSCForward.com. Questions can be directed to Ancora’s proxy solicitor, DF King, by calling 1-866-227-7300. The Board of Norfolk Southern has 13 members. Ancora has nominated seven candidates for the Board and is seeking a majority because it believes that is the least-disruptive, highest-certainty path to installing qualified management and implementing a PSR strategy, the same strategy that has led to substantial operational improvements at all other publicly-traded Class I Railroads.

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About Ancora

Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management, retirement plan services and insurance solutions to individuals and institutions across the United States. The firm is a long-term supporter of union labor and has a history of working with union groups and public pension plans to deliver long-term value. Ancora’s comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. For more information about Ancora, please visit https://ancora.net.