On April 11, 2024, Norfolk Southern Corporation announced that it has sent a letter to shareholders highlighting the collective strength of its board of directors and its commitment to acting in shareholders? best interests, the Company?s board has taken decisive action to drive long-term shareholder value, and the Board holding management accountable, addressing shareholder feedback, and enhancing safety and operational performance. In addition, the Company stated that in its letter highlights the board?s independent oversight to ensure the successful execution of our balanced strategy, Proven skills and experience that are essential to guide Company forward, steadfast commitment to bringing in fresh ideas and diverse perspectives.

Further, the Company stated that Ancora Alternatives LLC?s plan and demands for an overhaul of management and the board would decelerate the momentum of Company?s strategic transformation, force substantial furloughs, and destroy long-term value for shareholders, and recommended the shareholders to vote for its board nominees at the 2024 annual meeting of shareholders.