Union Pacific Corporation 2025-2026 Proxy Voting Records

Description as filed by funds: Election of Directors: Sheri H. Edison

Union Pacific Corporation’s own tally for this item (“Elect Director: Sheri H. Edison”): 468,658,407 for, 10,831,667 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 98% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 198,930,826 for, 175,700 against, 29,549 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: Teresa M. Finley

Union Pacific Corporation’s own tally for this item (“Elect Director: Teresa M. Finley”): 477,361,721 for, 2,594,064 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 99.4% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 199,106,495 for, 34 against, 29,549 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: Deborah C. Hopkins

Union Pacific Corporation’s own tally for this item (“Elect Director: Deborah C. Hopkins”): 477,411,285 for, 2,517,387 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 99.4% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 199,100,933 for, 5,595 against, 29,550 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: Jane H. Lute

Union Pacific Corporation’s own tally for this item (“Elect Director: Jane H. Lute”): 458,441,119 for, 21,204,940 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 96% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 198,826,808 for, 279,717 against, 29,553 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: Michael R. McCarthy

Union Pacific Corporation’s own tally for this item (“Elect Director: Michael R. McCarthy”): 453,856,480 for, 25,893,643 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 95% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 198,662,893 for, 443,634 against, 29,552 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: Doyle R. Simons

Union Pacific Corporation’s own tally for this item (“Elect Director: Doyle R. Simons”): 468,876,858 for, 10,944,221 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 98% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 198,914,848 for, 191,679 against, 29,550 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: John K. Tien, Jr.

Union Pacific Corporation’s own tally for this item (“Elect Director: John K. Tien, Jr.”): 477,322,167 for, 2,587,244 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 99.4% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 199,106,494 for, 34 against, 29,550 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: V. James Vena

Union Pacific Corporation’s own tally for this item (“Elect Director: V. James Vena”): 477,824,620 for, 2,033,848 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 99.5% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 199,106,497 for, 29 against, 29,550 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: John P. Wiehoff

Union Pacific Corporation’s own tally for this item (“Elect Director: John P. Wiehoff”): 477,320,553 for, 2,518,328 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 99.4% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 199,106,495 for, 33 against, 29,550 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: W Anthony Will

Union Pacific Corporation’s own tally for this item (“Elect Director: W Anthony Will”): 477,982,920 for, 1,797,522 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 99.6% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 199,106,502 for, 26 against, 29,550 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: Election of Directors: Christopher J. Williams

Union Pacific Corporation’s own tally for this item (“Elect Director: Christopher J. Williams”): 473,783,412 for, 5,778,011 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Proposal 1 – Election of Directors The Shareholders elected each of the following directors to serve a term of one year, ending at the time of the next Annual Meeting of Shareholders in 2027 (or until a successor is elected) pursuant to the By-Laws of the Company and the applicable laws of the Stat…”
Support: 99% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 198,931,883 for, 174,640 against, 29,553 abstained, 451 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: proposal to approve the issuance of Union Pacific common stock, par value $2.50 per share, pursuant to the Agreement and Plan of Merger, dated as of July 28, 2025, which, as may be amended from time to time, is referred to as the merger agreement, by and among Union Pacific Corporation, which is referred to as Union Pacific, Norfolk Southern Corporation, which is referred to as Norfolk Southern, Ruby Merger Sub 1 Corporation, and Ruby Merger Sub 2 LLC, a copy of which is attached as Annex A to the joint proxy statement/prospectus accompanying this notice, which proposal is referred to as the share issuance proposal; and

Union Pacific Corporation’s own tally for this item (“1. The Share Issuance Proposal”): 465,888,036 for, 2,214,119 against — passed, per its Form 8-K filed November 17, 2025 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Proposal 1 – The Share Issuance Proposal The Shareholders approved the issuance of Company common stock, par value $2.50 per share, pursuant to the Merger Agreement by and among the Company, Merger Sub 1, Merger Sub 2, and Norfolk Southern, as may be amended from time to time (the Share Issuance Pr…”
Support: 99.5% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 242 asset managers below reported 165,008,836 for, 30,851 against, 67 abstained, 455 not voted, 150 unknown.

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

Description as filed by funds: proposal to adjourn the Union Pacific special meeting from time to time, if necessary or appropriate, to solicit additional proxies in the event there are not sufficient votes at the time of the Union Pacific special meeting to approve the share issuance proposal, which proposal is referred to as the Union Pacific adjournment proposal.

Union Pacific Corporation’s own tally for this item (“2. The Union Pacific Adjournment Proposal”): 443,263,243 for, 24,770,175 against — passed, per its Form 8-K filed November 17, 2025 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Proposal 2 – The Union Pacific Adjournment Proposal The Shareholders approved, the adjournment of the Meeting from time to time, if necessary or appropriate, to solicit additional proxies in the event there are not sufficient votes at the time of the Meeting to approve the Share Issuance Proposal, …”
Support: 95% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 232 asset managers below reported 151,071,997 for, 7,745,196 against, 43,999 abstained, 455 not voted, 150 unknown.

Showing the 25 largest of 232 asset managers. See all 232 in the interactive database.

The 13 asset managers below reported 5,963,475 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

The 2 asset managers below reported 10,624 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Description as filed by funds: Approve, by non-binding vote, the compensation of the Company's Named Executive Officers ("Say on Pay").

Union Pacific Corporation’s own tally for this item (“3. Advisory Vote to Approve Executive Compensation ("Say on Pay")”): 454,118,030 for, 24,436,114 against — passed, per its Form 8-K filed May 18, 2026 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Proposal 3 – Advisory Vote to Approve Executive Compensation ("Say on Pay") The Shareholders approved, on an advisory (non-binding) basis, the compensation of the Company's Named Executive Officers, by the following count:”
Support: 95% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

Also reported under other wordings, matched to the same row of Union Pacific Corporation’s official tally and shown with their own fund figures; their managers are not in the figures or the table on this card: “COMPENSATION” (2 managers, 3,566 for).

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports, all 228 managers: 198,627,176 for, 320,338 against, 29,571 abstained, 451 not voted. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports, all 1,379 managers: 285,825,789 for, 15,639,254 against, 477,745 abstained, 191,666 not voted, 150 unknown. Showing the 25 largest; see all in the interactive database.

The 2 asset managers below reported 43,142 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Description as filed by funds: Ratification of the appointment of Deloitte & Touche LLP as the independent registered public accounting firm of the Company for 2026.

Union Pacific Corporation’s own tally for this item (“2. Ratification of Appointment of Deloitte & Touche LLP as Independent Registered Public Accounting Firm for the Year Ending December 31, 2026 The Shareholders voted for the ratification of the appointment of Deloitte & ”): 506,109,723 for, 31,880,708 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 94% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 247 asset managers below reported 198,739,302 for, 706,625 against, 32,178 abstained, 451 not voted.

Showing the 25 largest of 247 asset managers. See all 247 in the interactive database.