RETRANSMISSION – CN sends letter to shareholders

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Letter provides important context to help CN shareholders better assess TCI’s misguided and deceptive campaign

MONTREAL, Nov. 02, 2021 (GLOBE NEWSWIRE) – CN (TSX: CNR, NYSE: CNI) today sent a letter to CN shareholders in connection with its upcoming special meeting of shareholders (the “Special Meeting“) on March 22, 2022, and in response to recent documents filed by CIFF Capital and TCI (collectively”TCI“). A copy of the letter can be viewed on the CN website by clicking here.

CN’s Board of Directors and management continue to act in the best interests of the Company’s shareholders, customers and all other stakeholders. Meanwhile, TCI, the largest shareholder of Canadian Pacific Railway (“CP”), has made misleading statements that disrupt CN’s sustainable value creation efforts. CN’s letter provides important context to help CN shareholders better assess CN’s strategy and TCI’s misguided and deceptive campaign.

About CN
CN is a world-class transportation leader and trade enabler. Vital to the economy, customers and communities it serves, CN safely transports more than 300 million tonnes of natural resources, manufactured goods and finished goods across North America each year. As the only railway connecting the east and west coasts of Canada to the southern United States by a 19,500 mile rail network, CN and its affiliates have contributed to community prosperity and sustainable commerce since 1919. CN is committed to implementing programs that support social responsibility and environmental stewardship. .

Forward-looking statements
Certain statements included in this press 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 make these assumptions, while reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements can be identified by the use of terms such as “believes”, “expects”, “anticipates”, “”, “,”,,

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause CN’s actual results, performance or achievements to differ materially from the outlook or from any result, performance or future achievement implied by these statements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements. Significant risk factors that could affect forward-looking statements in this press release include, but are not limited to, uncertainties relating to the Special Meeting. Reference should also be made to the MD&A in CN’s Annual and Interim Reports, Annual Information Form and Form 40-F, filed with securities regulators in Canada and the United States and available on the website CN, for a description of the main risk factors associated with CN.

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. If CN updates a forward-looking statement, it should not be inferred that CN will make any further updates with respect to that statement, related matters or any other forward-looking statement.

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