Ms. Tracy Robinson reports

CN ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER GHISLAIN HOULE AND APPOINTMENT OF SUCCESSOR JAMIE LOCKWOOD

Canadian National Railway Company's executive vice-president and chief financial officer, Ghislain Houle, will retire from his role effective Feb. 1, 2027. Jamie Lockwood, currently vice-president, investor relations and special projects, has been selected to succeed Mr. Houle as executive vice-president and chief financial officer, effective Feb. 1, 2027.

Mr. Houle will remain executive vice-president and chief financial officer through Jan. 31, 2027, ensuring continuity through CN's year-end reporting cycle. As of Feb. 1, he will serve as strategic adviser to the president and chief executive officer to support a smooth and orderly transition through his final day with the company on March 31, 2027, after which he will retire.

Over three decades with CN, Mr. Houle has held progressively senior leadership roles and made significant contributions to the company. Since becoming chief financial officer in 2016, he has provided steady financial leadership through periods of significant economic and industry change, helped strengthen CN's financial foundation and supported the advancement of the company's strategic priorities. Throughout his tenure, he has been a trusted member of CN's executive leadership team and a strong steward of the company's financial discipline.

Mr. Lockwood joined CN in 2008 and has held leadership roles of increasing responsibility across finance, strategy, investor relations and operations. This breadth of experience has given him a strong understanding of CN's business, operations and financial strategy. His appointment follows a comprehensive succession planning process and reflects CN's focus on developing strong internal talent and ensuring leadership continuity.

About Canadian National Railway Company

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.