Norfolk Southern Corporation · NYSE:NSC
Norfolk Southern — Proxy Contest (April 2024)
9 slides from Norfolk Southern's proxy contest presentation, Apr 11, 2024
Slide 1: Fireside chat with Alan Shaw and John Orr
April 10, 2024 Fireside chat with alan shaw and john orr
Slide 2: Forward-looking statements
This presentation and the related materials contain forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or future performance of Norfolk Southern Corporation (NYSE: NS
Slide 3: Safely Deliver, Drive Productivity, Propel Growth
Safely Deliver Reliable and Resilient Service Drive Continuous Productivity Improvement Propel Smart and Sustainable Growth
Slide 4: Sub-60 Operating ratio in 3-4 years, driven by productivity
1. Represents adjusted operating ratio. See Appendix for definition and reconciliation to GAAP operating ratio. Sub-60 Operating ratio(1) in 3-4 years, driven by productivity Productivity gains drive the bulk of our 400bps+ of margin improvement over the next 3 years Economic recovery adds another 3
Slide 5: Will start to see dramatic y/y margin improvement in 2H24
… will start to see dramatic y/y margin improvement in 2H24 Train Speed 7% Improvement Evidence of Recent Improvement Terminal Dwell 8% Improvement Merchandise AAR Train Speed 10% Improvement
Slide 6: Delivering our PSR 2.0 Operating plan
Delivering our psr 2.0 Operating plan Identifying and eliminating corridor bottlenecks Targeting large-volume merchandise terminals for improved velocity and productivity Driving standard processes across all workstreams Rationalizing locomotives and cars Replicating these best practices across the
Slide 7: Appendix: Non-GAAP Financial Measures
Appendix: non-gaap financial measures
Slide 8: Non-GAAP Reconciliation for 2023
Non-GAAP Reconciliation for 2023 Reported (GAAP) East Palestine Incident Adjusted (non-GAAP) ($ in millions, except per share amounts) Income from railway operations $2,851 $1,116 $3,967 Income taxes $493 $270 $763 Net income $1,827 $846 $2,673 Diluted earnings per share $8.02 $3.72 $11.74 Railway o
Slide 9: Important Additional Information and Where to Find It
### Important Additional Information and Where to Find It The Company has filed a definitive proxy statement (the “2024 Proxy Statement”) on Schedule 14A and a WHITE proxy card with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for its 2024 Annual