Union Pacific and Norfolk Southern will submit their application to the Surface Transportation Board (STB) Friday, Dec. 19, 2025, requesting approval to combine the two railroads and create America’s first transcontinental railroad. Both companies’ management teams will co-host a conference call and live webcast at 8:45 a.m. ET.

Parties interested in participating via teleconference may dial 877-407-8293. Only analyst questions will be addressed during the call. International callers may dial 201-689-8349. A live webcast of the presentation and materials will be available in the investor relations section of Union Pacific’s website at https://investor.unionpacific.com/. A replay of the audio webcast will be available shortly thereafter.

The comprehensive application will detail how the end-to-end combination will enhance competition and deliver broad public benefits for America that strengthen our economy and protect union jobs. In addition to the STB’s website, the full application will be available on the transaction microsite: up-nstranscontinental.com.