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Canadian National Railway Company Investor Relations Material

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Canada’s National Rail Network

Canadian National Railway Company (CN) is a Canadian transportation and logistics company operating across North America. Founded in 1919, it has grown into a corporation that plays a vital role in the transportation industry. CN's network spans approximately 20,000 route miles, covering Canada and parts of the United States, The company has a diversified portfolio of transport services, including rail, intermodal, trucking, freight forwarding, warehousing, and distribution. CN is headquartered in Montreal, Quebec, and has a dual listing on both the NYSE and the TSX.

Nationalized to Privatized

Canadian National was created by the Canadian government in 1918, nationalizing and merging several failing and bankrupt railways in the country. The early years were challenging due to the amalgamated nature of the railways, differing track gauges, and financial difficulties stemming from the previous companies. Between the 1930s to the 1950s, the company modernized and expanded, becoming a crucial part of the nation's transportation infrastructure.

In 1995, the government privatized CN through one of the largest initial public offerings in Canadian history. This naturally marked a significant shift for the company, moving it from a state-owned entity to a private, profit-driven company. Post-privatization, CN expanded its operations into the United States, acquiring several American railroads. Today, CN is a leader in the rail transport industry, known for its extensive network connecting Canada and the United States.

The Rail Network

CN operates a comprehensive rail network in North America, primarily focusing on freight transportation. Its railway system spans across Canada and extends into the United States, making it one of the largest rail networks on the continent. CN's rail operations are critical in connecting different regions, facilitating the movement of a wide range of goods including agricultural products, raw materials, finished goods, and consumer products. Other important companies in the sector include Norfolk Southern, Union Pacific, and CSX Corporation.

Intermodal Transportation and More

Apart from its core railway operations, CN has diversified into several other divisions, including intermodal transportation, which integrates different transportation modes like rail and trucks. CN's intermodal services play a crucial role in streamlining supply chains and offering flexible logistics solutions. Additionally, the company has a division dedicated to automotive transport, specializing in the distribution of vehicles. CN also operates in the logistics sector, providing comprehensive supply chain management solutions that complement its rail and intermodal services. These divisions, while ancillary to CN's primary rail operations, significantly contribute to its overall business model, offering integrated transportation and logistics solutions to a wide range of industries.