CN to Invest $38 Million in Iowa to Build Capacity and Power Sustainable Growth

HOMEWOOD, Ill., June 30, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately US$38 million in Iowa, as part of its . This investment will support track maintenance and strategic infrastructure initiatives in the state. The projects will help ensure the safe movement of goods and support long-term sustainable growth in Iowa and across CN’s network.

“We believe that investing in our network is about building for the future. Our continued infrastructure investment in Iowa will help strengthen the resiliency and efficiency of our network across the state. Our focus remains on providing exceptional service to our customers and supply chain partners, supporting strong economic growth for North America and across communities where we operate.”

- Tracy Robinson, President, and Chief Executive Officer of CN

“CN’s $38 million investment into our state’s infrastructure is a big win for Iowa's farmers, businesses, and communities. This project will not only improve the resiliency and efficiency of transporting Iowa products across North America, but it will also create jobs and support long-term sustainable growth in Iowa. Investments like this help ensure Iowa remains a leader in feeding and fueling the world, and I’m grateful to have CN invest in Iowa’s future." 

- U.S. Congresswoman Ashley Hinson, Iowa’s 2^nd Congressional District

In 2024, CN invested approximately US$31 million in Iowa for track maintenance and key infrastructure initiatives. Highlights of this investment include:

• Approximately US$1.4 million to upgrade the track and build capacity on CN’s Osage Subdivision near Cedar Rapids
• Over US$1 million towards upgrades at CN’s Waterloo rail yard to improve operations.
  
  
  
  

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• Capital investments: More than US$ 31 million in 2024
• Employees: approximately 258
• Railroad route miles operated: 572
• Community investments: US$ 98,000 in 2024
• Local spending: US$29 million in 2024
• Cash taxes paid: US$6.2 million in 2024
  
  
  
  

CN Forward-Looking Statements

Certain statements by CN included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words. Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

About CN

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

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