We look forward to the STB promptly setting forth its timetable for reviewing our voting
trust. We firmly believe that, once the STB has had the opportunity to undertake a full and fair review of our voting trust, we will have demonstrated that our voting trust is in the public interest. In particular, CN will demonstrate that our
strong balance sheet, cash flows and ratings profile will provide certainty that we have the financial strength and integrity to satisfy the STBs public interest analysis. CNs proposed voting trust has identical terms and uses the same
trustee as CPs recently approved voting trust and our proposal provides superior and more certain value for KCS shareholders and represents a pro-competitive solution that offers unparalleled
opportunities for customers, employees, shareholders, the environment and the North American economy.
Together, CN and KCS will create an
express route that connects the U.S., Mexico and Canada with a seamless single-owner, single-operator service, and preserve access to all existing gateways to enhance route choices and ensure robust price competition.
We maintain that we are the better bid, better partner, better railway and best solution for KCS. We remain confident in our ability to close
the combination with KCS and look forward to continuing to engage productively and respectfully with the KCS Board to deliver a superior and pro-competitive transaction to CN and KCS respective
stakeholders.
For more information on CNs superior proposal to acquire KCS, please visit www.ConnectedContinent.com.
About CN
CN is a world-class transportation leader and
trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As
the only railroad connecting Canadas Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and
sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
Forward Looking Statements
Certain statements 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, including statements based on managements assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction
between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. 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.