Norfolk Southern Corporation has entered into a definitive agreement to issue and sell $400 million in 5.100% Senior Notes due 2035.

The notes are being offered at 99.830% of their face value, with an estimated net proceed of approximately $395.75 million after deducting underwriting discounts and offering expenses.

The underwriters include BofA Securities, SMBC Nikko Securities America, and Wells Fargo Securities. The transaction is expected to close around May 2, 2025, pending standard closing conditions. Proceeds will be used for general corporate purposes.

This offering is being made under Norfolk Southern’s shelf registration filed in December 2023, and the underwriting agreement includes standard representations and warranties.