CN to Invest $60 Million in Minnesota to Build Capacity and Power Sustainable Growth

HOMEWOOD, Ill., June 16, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately US$60 million in Minnesota, as part of its 2025 capital investment program. This investment will support track maintenance and strategic infrastructure initiatives in the state. The projects will help ensure the safe movement of goods and support long-term sustainable growth in Minnesota and across CN’s network.

“We believe that investing in our network is about building for the future. Our continued infrastructure investment in Minnesota will help strengthen the resiliency and efficiency of our network across the state. Our focus remains on providing exceptional service to our customers and supply chain partners, supporting strong economic growth for North America and across communities where we operate.”

 - Tracy Robinson, President, and Chief Executive Officer of CN

“CN’s significant investments in Two Harbors, Minnesota, to enhance its operations and infrastructure including the addition of a new loop track and upgrading its rail yard.  While improving CN’s efficiency it also solidifies jobs for Two Harbors residents.  These investments reinforce CN’s commitment not only to Two Harbors, but to supporting Minnesota’s iron ore supply chain and strengthening its transportation network.” 

 - Lew Conner, Mayor, Two Harbors, Minnesota

In 2024, CN invested approximately US$77 million in Minnesota for track maintenance and key infrastructure initiatives. Highlights of this investment include:

 - Over US$9 million to upgrade and improve operations at CN’s Two Harbors rail yard

 - More than US$2.5 million to upgrade and build capacity at CN’s Duluth Iron Ore Dock

Minnesota in Numbers:

• Capital investments: Approximately US$ 77 million in 2024
• Employees: approximately 569
• Railroad route miles operated: 426
• Community investments: US$ 60,000 in 2024
• Local spending: US$117 million in 2024
• Cash taxes paid: US$19 million in 2024

CN Forward-Looking Statements
Certain statements by CN 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. 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. 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. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

About CN
CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

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