CN to Invest $475 Million in Quebec to Build Capacity and Power Sustainable Growth

MONTREAL, May 26, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately $475 million CAD in Quebec, as part of its . This investment will support track maintenance and strategic infrastructure initiatives in Quebec. This includes projects to improve the efficiency of CN’s operations at its Taschereau railyard in Dorval, as well as a number of information technology projects that will help better support our customers and modernize our systems. These investments will help ensure the safe movement of goods and support long-term sustainable growth in Quebec and across CN’s network.

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

  - Tracy Robinson, President and Chief Executive Officer of CN

"Rail transportation is a vital pillar of our supply chain for moving goods efficiently. By making significant investments in maintaining its infrastructure, CN is setting an example at a time when the entire transportation ecosystem—especially our government, must place greater emphasis on asset upkeep. Our recent study, Transportation Infrastructure in Quebec: Investing for the Future, presented at the FCCQ, clearly shows that strengthening these efforts yields significant economic and societal benefits.”

  - Véronique Proulx, President and CEO, Fédération des chambres de commerce du Québec (FCCQ)

In 2024, CN invested approximately $633 million in Quebec for track maintenance and key infrastructure initiatives. Highlights from this investment include:

• Approximately $27 million to upgrade CN’s dispatching system and rail traffic control simulator to help better train new employees.
• Over $40 million for new equipment, which included the purchase of new cranes and a number of vehicles as part of a fleet renewal program to be deployed in Quebec and across CN’s network.

:

• Employees: approximately 3,521
• Railroad route miles operated: 2,014
• Community investments: $4.6 million in 2024
• Local spending: $2.1 billion in 2024
• Cash taxes paid: $114 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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