Tranche Update on Canadian National Railway Company's Equity Buyback Plan announced on January 23, 2024.

From January 23, 2024 to March 31, 2024, the company has repurchased 3,500,000 shares, representing 0.54% for CAD 597 million. With this, the company has completed the repurchase of 3,500,000 shares, representing 0.54% for CAD 597 million under the buyback announced on January 23, 2024.