Exhibit 99.2 Norfolk Southern Corporation and Subsidiaries Consolidated Statements of Income (Unaudited) | | First Six Months | | | --- | --- | --- | | | 2025 ($ in millions) | 2024 | | Cash flows from operating activities | | | | Net income | $ 1,518 | $ 790 | | Reconciliation of net income to net cash provided by operating activities: | | | | Depreciation | 692 | 672 | | Deferred income taxes | 109 | 5 | | Gains and losses on properties | (57) | (25) | | Changes in assets and liabilities affecting operati ...

on this morning, John. Good. >> Good day.Thank you Joe. >> Okay. >> Bye bye.>> Okay. We've got some breaking merger news taking place right now. I want to get straight over to Morgan Brennan, who joins us with more Morgan.>> Good morning Andrew. So we knew they were talking. Now it's official Union Pacific and Norfolk Southern striking a deal to merge to create America's first modern transcontinental railroad.Under the terms of the agreement, Union Pacific would acquire Norfolk Southern in a stock and cash ...

Union Pacific and Norfolk Southern announce plans to merge in a deal that would create America's first transcontinental freight railroadhttps://t.co/RurTn5w4n2 ...

Union Pacific and Norfolk Southern announce plans to merge in a deal that would create America's first transcontinental freight railroadhttps://t.co/ADImmFTxOX ...

Mergers and Acquisitions - Union Pacific 同意以 850 亿美元收购 Norfolk Southern [1] Industry Impact - 这将创建美国历史上第一家控制 coast-to-coast 铁路运输的公司 [1]

Core Viewpoint - Union Pacific Railroad Company plans to acquire Norfolk Southern Railway Company for $320 per share in cash and stock [1] Company Summary - The acquisition proposal involves a combination of cash and stock, indicating a strategic move to consolidate operations within the railway industry [1] - The offer price of $320 per share reflects a significant valuation for Norfolk Southern, suggesting confidence in the future performance of the combined entity [1] Industry Summary - This acquisition highlights ongoing consolidation trends within the North American railway sector, as companies seek to enhance operational efficiencies and market reach [1] - The deal could potentially reshape competitive dynamics in the railway industry, impacting service offerings and pricing strategies [1]

Mergers and Acquisitions - Union Pacific 同意以现金加股票的方式收购 Norfolk Southern，交易价值 850 亿美元 [1] - 这笔交易将打造一个横贯大陆的铁路巨头，成为该行业有史以来最大的交易 [1]

智通财经7月29日电，美国联合太平洋铁路公司拟以每股320美元现金加股票收购诺福克南方铁路公司。 ...

Q2 2025 EARNINGS July 29, 2025 FORWARD-LOOKING STATEMENTS / NON-GAAP MEASURES This presentation and the related materials contain "forward-looking statements" within the meaning of the "safe harbor" provisions 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: NSC) ("Norfolk Southern," "NS," the "Company," "we," "our," or "us") and involve known and unknown risks, uncertainties, and other ...

Group 1 - The core point of the article is that Union Pacific, the largest railroad operator in the United States, has made an acquisition offer of approximately $320 per share for Norfolk Southern [1] Group 2 - The acquisition bid indicates Union Pacific's strategic move to expand its market presence and consolidate its position in the railroad industry [1] - The offer price reflects a significant valuation of Norfolk Southern, suggesting confidence in the potential synergies and growth opportunities that could arise from the merger [1] - This development may trigger further consolidation in the railroad sector, as other companies may respond to the competitive landscape created by this bid [1]