EdgePoint Investment Group Inc. - Statement Regarding Norfolk Southern

TORONTO, March 4, 2024 /PRNewswire/ - EdgePoint Investment Group, Inc. ("EdgePoint") is fully supportive of the efforts of Ancora Holdings Group, LLC ("Ancora") for meaningful dialogue with Norfolk Southern Corporation ("NSC" or the "Company"). As a significant shareholder in NSC and as fiduciaries of our investors, EdgePoint supports the changes proposed by Ancora to NSC's board of directors and management team.  Currently, EdgePoint controls a ~US$960 million stake in NSC, we believe making our firm one of the largest shareholders of the Company. 

We believe the status quo at NSC will lead to continued underperformance of the railroad.  We also believe that Board refreshment and Jim Barber's and Jamie Boychuk's leadership are essential for enhancing safety and for ensuring outstanding long-term achievements for the benefit of all NSC's shareholders and other stakeholders.

EdgePoint is an independent investment management firm with a 16-year history. We're a long-term investor in businesses that we believe can grow over time. The employees that make up EdgePoint are as a group one of the largest investors in EdgePoint Wealth Management Inc. ("EdgePoint Wealth") portfolios. EdgePoint is the Portfolio Manager for EdgePoint Wealth funds.

EdgePoint Wealth is an independent investment management firm based in Toronto, and owned and operated by investors.

SOURCE EdgePoint Investment Group Inc.