<SEC-DOCUMENT>0001899809-22-000005.txt : 20220413
<SEC-HEADER>0001899809-22-000005.hdr.sgml : 20220413
<ACCEPTANCE-DATETIME>20220413131439
ACCESSION NUMBER:		0001899809-22-000005
CONFORMED SUBMISSION TYPE:	PREN14A
CONFIRMING COPY:	
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220401
FILED AS OF DATE:		20220412
DATE AS OF CHANGE:		20220413

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CSX CORP
		CENTRAL INDEX KEY:			0000277948
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROADS, LINE-HAUL OPERATING [4011]
		IRS NUMBER:				621051971
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PREN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08022

	BUSINESS ADDRESS:	
		STREET 1:		500 WATER STREET
		STREET 2:		15TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202
		BUSINESS PHONE:		9043593200

	MAIL ADDRESS:	
		STREET 1:		500 WATER STREET
		STREET 2:		15TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Larson Christopher L
		CENTRAL INDEX KEY:			0001899809

	FILING VALUES:
		FORM TYPE:		PREN14A

	MAIL ADDRESS:	
		STREET 1:		PO BOX #2
		CITY:			FERRYSBURG
		STATE:			MI
		ZIP:			49409
</SEC-HEADER>
<DOCUMENT>
<TYPE>PREN14A
<SEQUENCE>1
<FILENAME>PREN14AAA.htm
<DESCRIPTION>LIVE FILING
<TEXT>

<html>
<head>

</head>
<body lang="en-US" dir="ltr"><h1>Preliminary WHITE Proxy CARD</h1>
<p align="center" style="line-height: 100%; margin-bottom: 0in; page-break-before: always">
<font face="Times, serif"><font size="3" style="font-size: 13pt"><b>PRELIMINARY
COPY SUBJECT TO COMPLETION</b></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>DATED
MARCH 23, 2022</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>2022
ANNUAL MEETING OF STOCKHOLDERS OF CSX CORPORATION </b></font></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>_________________________
</b></font></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>THIS
PROXY IS SOLICITED ON BEHALF OF CHRIS LARSON</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>THE
BOARD OF DIRECTORS OF CSX IS NOT SOLICITING THIS PROXY</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>_________________________
</b></font></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>PROXY</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>PLEASE
SIGN, DATE AND MAIL THE ENCLOSED WHITE PROXY CARD TODAY </b></font></font></font>
</p>
<p>The undersigned appoints Chris Larson as agent with full power of
substitution to vote all shares of common stock of CSX Corporation
(the Company<font face="Courier, monospace">)</font> which the
undersigned would be entitled to vote if personally present at the
2022 annual meeting of stockholders of the Company scheduled to be
held virtually at 10:00 a.m. (EDT) on Wednesday, May 4, 2022
(including any adjournments or postponements thereof and any meeting
called in lieu thereof, the Annual Meeting).</p>
<p>The undersigned hereby revokes any other proxy or proxies
heretofore given to vote or act with respect to the shares of common
stock of the Company held by the undersigned, and hereby ratifies and
confirms all action the herein named agent and proxies, their
substitutes, or any of them may lawfully take by virtue hereof.
</p>
<p>If properly executed, this Proxy will be voted as directed on the
reverse and in the discretion of the herein named agent and proxies
or their substitutes with respect to any other matters as may
properly come before the Annual Meeting that are unknown to Chris
Larson a reasonable time before this solicitation.</p>
<p>IF NO DIRECTION IS INDICATED WITH RESPECT TO THE PROPOSALS ON THE
REVERSE, THIS PROXY WILL BE VOTED FOR PROPOSAL 1, FOR PROPOSAL 2, AND
AGAINST PROPOSAL 3.</p>
<p>This Proxy will be valid until the completion of the Annual
Meeting. This Proxy will only be valid in connection with Chirs
Larsons solicitation of proxies for the Annual Meeting.</p>
<p align="center"><b>IMPORTANT: PLEASE SIGN, DATE AND MAIL THIS PROXY
CARD PROMPTLY! CONTINUED AND TO BE SIGNED ON REVERSE SIDE</b></p>
<p style="page-break-before: always"><b>WHITE</b> PROXY CARD</p>
<p>[X] Please mark vote as in this example</p>
<p>CHRIS LARSON STRONGLY RECOMMENDS THAT STOCKHOLDERS VOTE IN FAVOR
OF THE NOMINEE LISTED BELOW IN PROPOSAL 1. CHRIS LARSON RECOMMENDS
THAT SHAREHOLDERS VOTE FOR PROPOSAL 2. CHRIS LARSON RECOMMENDS THAT
STOCKHOLDERS VOTE AGAINST PROPOSAL 3.</p>
<p>ITEM 1: To elect Shareholder Board Nominee Chris Larson to serve
as a director of the Company.</p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"><p align="center">
			FOR ALL NOMINEES</p>
		</td>
		<td width="20%" style="border: none; padding: 0in"><p align="center">
			WITHHOLD AUTHORITY TOVOTE FOR ALL NOMINEES</p>
		</td>
		<td width="20%" style="border: none; padding: 0in"><p align="center">
			FOR ALL EXCEPT NOMINEE(S) WRITTEN BELOW</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border: none; padding: 0in"><p>NOMINEE:</p>
		</td>
		<td width="20%" style="border: none; padding: 0in"><p>Chris Larson</p>
		</td>
		<td width="20%" style="border-top: 1.00pt solid #000000; border-bottom: 1.00pt solid #000000; border-left: 1.00pt solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			[]</p>
		</td>
		<td width="20%" style="border-top: 1.00pt solid #000000; border-bottom: 1.00pt solid #000000; border-left: 1.00pt solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			[]</p>
		</td>
		<td width="20%" style="border: 1.00pt solid #000000; padding: 0.04in"><p align="center">
			[]</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"><p>____________</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"><p>____________</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"></td>
		<td width="20%" style="border: none; padding: 0in"><p>____________</p>
		</td>
	</tr>
</table>
<p>Chirs Larson intends to use this proxy to vote (i) FOR Chris
Larson and (ii) FOR the candidates who have been nominated by the
Company to serve as directors, other than Paul C. Hilal, and for whom
Chris Larson is not seeking authority to vote for and will not
exercise any such authority.
</p>
<p>The names, backgrounds and qualifications of the candidates who
have been nominated by the Company, and other information about them,
can be found in the Company's proxy statement. There is no assurance
that any of the candidates who have been nominated by the Company
will serve as directors if the Nominees is elected.
</p>
<p>Chris Larson does not expect that he will not be unable to stand
for election, but, in the event that he is unable to serve or for
good cause will not serve, the shares of common stock represented by
this proxy card will be voted for substitute nominee(s), to the
extent this is not prohibited under the Company's organizational
documents and applicable law.
</p>
<p>In addition, Chris Larson has reserved the right to nominate
substitute person(s) if the Company makes or announces any changes to
its organizational documents or takes or announces any other action
that has, or if consummated would have, the effect of disqualifying
any nominee, to the extent this is not prohibited under the Company's
organizational documents and applicable law. In any such case, shares
of common stock represented by this proxy card will be voted for such
substitute nominee(s).</p>
<p style="page-break-before: always">ITEM 2: RATIFICATION OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<th width="33%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			FOR</p>
		</th>
		<th width="33%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			AGAINST</p>
		</th>
		<th width="33%" style="border: 1px solid #000000; padding: 0.04in"><p>
			ABSTAIN</p>
		</th>
	</tr>
	<tr valign="top">
		<td width="33%" style="border: none; padding: 0in"><p align="center">
			[]</p>
		</td>
		<td width="33%" style="border: none; padding: 0in"><p align="center">
			[]</p>
		</td>
		<td width="33%" style="border: none; padding: 0in"><p align="center">
			[]</p>
		</td>
	</tr>
</table>
<p>ITEM 3: ADVISORY (NON-BINDING) VOTE TO APPROVE THE COMPENSATION OF
CSXS NAMED EXECUTIVE OFFICERS</p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<th width="33%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			FOR</p>
		</th>
		<th width="33%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			AGAINST</p>
		</th>
		<th width="33%" style="border: 1px solid #000000; padding: 0.04in"><p>
			ABSTAIN</p>
		</th>
	</tr>
	<tr valign="top">
		<td width="33%" style="border: none; padding: 0in"><p align="center">
			[]</p>
		</td>
		<td width="33%" style="border: none; padding: 0in"><p align="center">
			[]</p>
		</td>
		<td width="33%" style="border: none; padding: 0in"><p align="center">
			[]</p>
		</td>
	</tr>
</table>
<p><b>WHITE</b> PROXY CARD</p>
<p>DATED: ____________________________</p>
<p>____________________________________</p>
<p>(Signature)</p>
<p>____________________________________</p>
<p>(Signature, if held jointly)</p>
<p>____________________________________</p>
<p>(Title)</p>
<p>WHEN SHARES ARE HELD JOINTLY, JOINT OWNERS SHOULD EACH SIGN.
EXECUTORS, ADMINISTRATORS, TRUSTEES, ETC., SHOULD INDICATE THE
CAPACITY IN WHICH SIGNING. PLEASE SIGN EXACTLY AS NAME APPEARS ON
THIS PROXY.</p>
<h1 style="page-break-before: always">Proxy Statement</h1>
<p align="center" style="line-height: 100%; margin-bottom: 0in; page-break-before: always">
<font face="Times, serif"><font size="3" style="font-size: 13pt"><b>PRELIMINARY
COPY SUBJECT TO COMPLETION</b></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>DATED
MARCH 23, 2022</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>2022
ANNUAL MEETING OF STOCKHOLDERS </b></font></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>OF</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>CSX
CORPORATION </b></font></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>_________________________
</b></font></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>PROXY
STATEMENT</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>OF</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>CHRIS
LARSON</b></font></font></font></p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>_________________________
</b></font></font></font>
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Times-Bold, serif"><font size="3" style="font-size: 13pt"><b>PLEASE
SIGN, DATE AND MAIL THE ENCLOSED WHITE PROXY CARD TODAY </b></font></font></font>
</p>
<p>Chris Larson, an employee and conductor for CSX Transportation, is
a stockholder of CSX Corporation (CSX or the Company), a Virginia
corporation, in which he beneficially owns, in aggregate,
approximately 135 shares of common stock and 5 shares in record name
of the Company (the Common Stock), $1.00 par value per share.
</p>
<p>I believe that the Board of Directors of the Company (the Board)
must be meaningfully refreshed to ensure that the best interests of
<i><b>all</b></i> stockholders are appropriately represented in the
boardroom, not just short-term, shareholder value at any cost
shareholders.</p>
<p>As a Shareholder Board Nominee, Chris Larson has a strong,
relevant background and is committed to fully representing all
stakeholders in the boardroom: customers, employees, and <i><b>all</b></i>
shareholders.
</p>
<p>This Proxy Statement and the <b>WHITE</b> proxy card (proxy
materials) will only be available through the internet (Internet
availability of proxy materials) to to stockholders on or about
[____________], 2022.
</p>
<p>Chris Larson is seeking your support at the annual meeting of
stockholders scheduled at the 2022 annual meeting of stockholders of
the Company scheduled to be held virtually at 10:00 a.m. (EDT) on
Wednesday, May 4, 2022 (including any adjournments or postponements
thereof and any meeting called in lieu thereof, the Annual Meeting),
for the following:</p>
<p>1. To elect Shareholder Board Nominee Chirs Larson to the Board of
Directors of CSX Corporation, and to serve until the 2023 annual
meeting of shareholders.</p>
<p>2. To ratify the selection of independent registered public
accounting firm.</p>
<p>3. To conduct an advisory vote on the compensation of the
Company's executive officers.</p>
<p>The Board is currently composed of 11 directors. Through this
Proxy Statement, Chris Larson is soliciting proxies to elect not only
Chris Larson, but also the candidates who have been nominated by the
Company, other than Paul C. Hilal.
</p>
<p style="line-height: 100%; margin-bottom: 0in">This gives
stockholders who wish to vote for Chris Larson the ability to vote
for a full slate of 11 directors. The names, backgrounds and
qualifications of the Company's nominees, and other information about
them, can be found in the Company's proxy statement.
</p>
<p style="line-height: 100%; margin-bottom: 0in">Your vote to elect
the nominee Chris Larson will have the legal effect of replacing one
incumbent director with Chris Larson. If elected, Chris Larson will
constitute a minority on the Board and there can be no guarantee that
he will be able to implement the actions that he believe are
necessary to bring a balanced approach to the Company.
</p>
<p style="line-height: 100%; margin-bottom: 0in">However, Chris
Larson believes his nomination and election is an important step in
the right direction for bringing a balanced approach to the company
thereby ensuring long-term stability to the Company.
</p>
<p style="line-height: 100%; margin-bottom: 0in">Chris Larson intends
to vote such shares <b>FOR</b> the election of the Nominee, <b>FOR</b>
the appointment of Ernst &amp; Young LLP as Independent Registered
Public Accounting Firm for 2022, <b>AGAINST</b> the advisory
(non-binding) resolution to approve the compensation for the
Company's named executive officers, as described herein.</p>
<p>As of the date hereof, Chris Larson is a stockholder of CSX
Corporation (CSX or the Company), a Virginia corporation, in which he
beneficially owns, in aggregate, approximately 135 shares of common
stock and 5 shares in record name of the Company (the Common Stock),
$1.00 par value per share.
</p>
<p>The Company has set the close of business on March 8, 2022 as the
record date for determining stockholders entitled to notice of and to
vote at the Annual Meeting (the Record Date). The mailing address of
CSX Corporation is 500 Water Street, C160, Jacksonville, Florida
32202.
</p>
<p>Stockholders of record at the close of business on the Record Date
will be entitled to vote at the Annual Meeting. According to the
Company, as of the Record Date, there were 2,193,389,444 shares of
Common Stock outstanding.</p>
<p><b>THIS SOLICITATION IS BEING MADE BY CHRIS LARSON AND NOT ON
BEHALF OF THE BOARD OR MANAGEMENT OF THE COMPANY. CHRIS LARSON IS NOT
AWARE OF ANY OTHER MATTERS TO BE BROUGHT BEFORE THE ANNUAL MEETING
OTHER THAN AS SET FORTH IN THIS PROXY STATEMENT. </b>
</p>
<p><b>SHOULD OTHER MATTERS, WHICH CHRIS LARSON IS NOT AWARE OF A
REASONABLE TIME BEFORE THIS SOLICITATION, BE BROUGHT BEFORE THE
ANNUAL MEETING, CHRIS LARSON, AS THE PERSON NAMED AS PROXY IN THE
ENCLOSED WHITE PROXY CARD, WILL VOTE ON SUCH MATTERS IN HIS
DISCRETION.</b></p>
<p>CHRIS LARSON URGES YOU TO SIGN, DATE AND RETURN THE <b>WHITE</b>
PROXY CARD IN FAVOR OF THE ELECTION OF THE NOMINEES.</p>
<p>IF YOU HAVE ALREADY SENT A PROXY CARD FURNISHED BY COMPANY
MANAGEMENT OR THE BOARD, YOU MAY REVOKE THAT PROXY AND VOTE ON EACH
OF THE PROPOSALS DESCRIBED IN THIS PROXY STATEMENT BY SIGNING, DATING
AND RETURNING THE ENCLOSED WHITE PROXY CARD. THE LATEST DATED PROXY
IS THE ONLY ONE THAT COUNTS. ANY PROXY MAY BE REVOKED AT ANY TIME
PRIOR TO THE ANNUAL MEETING BY DELIVERING A WRITTEN NOTICE OF
REVOCATION OR A LATER DATED PROXY FOR THE ANNUAL MEETING OR BY VOTING
IN PERSON AT THE ANNUAL MEETING.</p>
<p><b>Important Notice Regarding the Availability of Proxy Materials
for the Annual Meeting This Proxy Statement and our WHITE</b> <b>proxy
card are available at [_______]</b></p>
<h1 style="page-break-before: always">Dear Fellow Shareholders:</h1>
<p style="line-height: 100%; margin-bottom: 0in">Very few companies
can trace their roots back over 195 years, yet CSX can. CSX had a
proud history of multi-generational employees, a strong commitment to
customer service, and long record of consistent dividends and
returns.</p>
<p style="line-height: 100%; margin-bottom: 0in">That all changed in
2017.</p>
<p style="line-height: 100%; margin-bottom: 0in">In 2017 Mr. Paul
Hilal, the principal and founder of Mantle Ridge (MR), approached CSX
demanding change in the name of maximizing shareholder value. Early
in the process, he explained that he was looking to best advance the
shareholders objective of maximizing shareholder value with a swift
and certain transformation.</p>
<p style="line-height: 100%; margin-bottom: 0in">Mr. Hilal paraded
the Precision Scheduling Railroading (PSR) model as an operational
transformation, with the promise of driving improvements across the
business. Spectators and speculators came to watch and participate in
this parade of maximizing shareholder value which in turn pumped up
CSXs stock.</p>
<p style="line-height: 100%; margin-bottom: 0in">Mr. Hilal demanded
that Mr. Hunter Harrison be that change agent and lead the parade.</p>
<p style="line-height: 100%; margin-bottom: 0in">The problem with
installing Hunter Harrison was he had a non-compete clause agreement
with the Canadian Pacific (CP) railroad. Becoming CEO of CSX would
violate his non-compete, and Mr. Harrison would forfeit about $84
million dollars in earned bonuses from the CP.
</p>
<p style="line-height: 100%; margin-bottom: 0in">At the 2017 annual
shareholders meeting, Mr. Hilal advocated for an $84 million dollar
reimbursement to Mr. Harrison. The nonbinding yes vote passed, and
the company doled out $84 million dollars to make Mr. Harrison whole.</p>
<p style="line-height: 100%; margin-bottom: 0in">At Mr. Hilal's
insistence, and for $84 million dollars, CSX bought the 73 year old
former CP CEO. The new CEO required constant oxygen, had a 24 hour
nurse, and would not submit to a physical.
</p>
<p style="line-height: 100%; margin-bottom: 0in">After paying $84
million in 2017 for Mr. Harrison to become CEO of CSX, and prior to
his death in December 2017, Mr. Harrison did transform the company.
That transformation included the gutting of the labor force, train
traffic seizing up, and pissing off customers.</p>
<p style="line-height: 100%; margin-bottom: 0in">The consequences of
that transformation which Mr. Hilal promised, and Mr. Harrison
executed, continues to reverberate throughout the company to this
day.</p>
<p style="line-height: 100%; margin-bottom: 0in">For the past five
years, it appears that the Board has allowed CSX Vice Chairman Hilal
to exert outsized influence over the Company in the pursuit of
returning shareholder value at any cost.</p>
<p style="line-height: 100%; margin-bottom: 0in">Mr. Hilal needs to
be held accountable for the amount of money the Company paid to bring
Mr. Harrison to CSX, the poor execution of the PSR model, continued
customer service issues, lackluster strategic direction, unbalanced
focus, and the reasons set forth in the attached Proxy Statement.</p>
<p style="line-height: 100%; margin-bottom: 0in">Meaningful changes
to the composition of the Board of Directors of the Company (the
Board) are necessary in order to ensure that the Company is being run
in a manner consistent with the best interests of <i><b>all</b></i>
shareholders, and for the <i><b>long-term</b></i>.</p>
<p style="line-height: 100%; margin-bottom: 0in">As a qualified CSX
Train &amp; Engine employee and shareholder seeking change on how the
company is ran, I have self nominated for a Board of Directors seat.
I am seeking your proxy vote to replace Vice Chairman Paul C. Hilal
on the Board of Directors.
</p>
<p style="line-height: 100%; margin-bottom: 0in">I am capable and
ready to work collaboratively with fellow directors in the boardroom
in order to serve and represent the best interests of all CSX
stockholders, employees, and customers.
</p>
<p style="line-height: 100%; margin-bottom: 0in">I believe that the
Board and Company will benefit from the insights, field experience,
entrepreneurial approach, and track record of forward thinking.</p>
<p style="line-height: 100%; margin-bottom: 0in">As a properly
presented Shareholder Board Nominee, I am seeking your support for
the election to the Board of Directors of CSX at the virtual annual
meeting of stockholders scheduled to be held on May 4, 2022 at 10:00
a.m. EDT(including any adjournments, postponements or continuations
thereof and any meeting which may be called in lieu thereof, the
Annual Meeting).
</p>
<p style="line-height: 100%; margin-bottom: 0in">Chris Larson, a
Conductor Employee for CSX Transportation, is a stockholder of CSX
Corporation (CSX or the Company), a Virginia corporation, in which he
beneficially owns in aggregate, approximately 135 shares of common
stock and 5 shares in record name of the Company (the Common Stock),
$1.00 par value per share.
</p>
<p style="line-height: 100%; margin-bottom: 0in">I look forward to
continuing to engage with CSX and its shareholders.
</p>
<p style="line-height: 100%; margin-bottom: 0in">I believe the Board
will benefit from the addition of a director with relevant skill sets
and a shared objective of enhancing value for the benefit <i><b>all</b></i>
CSX stockholders.
</p>
<p style="line-height: 100%; margin-bottom: 0in">Sincerely,</p>
<p style="line-height: 100%; margin-bottom: 0in">/s/ Chris Larson</p>
<p style="line-height: 100%; margin-bottom: 0in">CSX Corp Shareholder</p>
<p style="line-height: 100%; margin-bottom: 0in">CSX Transportation
Employee
</p>
<h1 style="page-break-before: always">Reasons For the Solicitation</h1>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Current Board &amp; Background</h2>
<p>I believe board is beholden to Mr. Hilal and his quest of
returning shareholder value at any cost. For this reason, and others
put forth, I believe the Board needs a refresh.</p>
<p style="line-height: 100%; margin-top: 0.08in; margin-bottom: 0.08in">
<font color="#666666"><font size="3" style="font-size: 12pt"><i><b>Current
Board members that were Mantel Ridge Board nominees in 2017:</b></i></font></font></p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<th width="32%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Name</p>
		</th>
		<th width="68%" style="border: 1px solid #000000; padding: 0.04in"><p>
			Current Committee Membership</p>
		</th>
	</tr>
	<tr valign="top">
		<td width="32%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Paul C. Hilal</p>
		</td>
		<td width="68%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Finance Committee</p>
			<p>Governance and Sustainability Committee</p>
			<p>Executive Committee</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="32%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Linda H. Riefler</p>
		</td>
		<td width="68%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Compensation and Talent Management Committee</p>
			<p>Governance and Sustainability Committee</p>
			<p>Executive Committee</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="32%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			John J. Zillmer</p>
		</td>
		<td width="68%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Compensation and Talent Management Committee</p>
			<p>Governance and Sustainability Committee</p>
			<p>Executive Committee</p>
		</td>
	</tr>
</table>
<p style="line-height: 100%; margin-top: 0.08in; margin-bottom: 0.08in">
<font color="#666666"><font size="3" style="font-size: 12pt"><i><b>Current
CSX Board Members listed with Mr. Hilal on other Proxy Statements:</b></i></font></font></p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<th width="33%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Year</p>
		</th>
		<th width="33%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Name</p>
		</th>
		<th width="33%" style="border: 1px solid #000000; padding: 0.04in"><p>
			Company</p>
		</th>
	</tr>
	<tr valign="top">
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2021</p>
		</td>
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			John J. Zillmer</p>
		</td>
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Aramark</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2021</p>
		</td>
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Steven T. Halverson</p>
		</td>
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Dollar Tree, Inc</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"></td>
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"></td>
		<td width="33%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
</table>
<p style="line-height: 100%; margin-top: 0.08in; margin-bottom: 0.08in">
<font color="#666666"><font size="3" style="font-size: 12pt"><i><b>Former
CSX Board Members listed with Mr. Hilal on other Proxy Statements:</b></i></font></font></p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<th width="17%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Year</p>
		</th>
		<th width="36%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Name</p>
		</th>
		<th width="47%" style="border: 1px solid #000000; padding: 0.04in"><p>
			Company</p>
		</th>
	</tr>
	<tr valign="top">
		<td width="17%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2017</p>
		</td>
		<td width="36%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Hunter Harrison</p>
		</td>
		<td width="47%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Canadian Pacific Railway LTD</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="17%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2021</p>
		</td>
		<td width="36%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Dennis H. Reilley</p>
		</td>
		<td width="47%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Dollar Tree, Inc.</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="17%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2021</p>
		</td>
		<td width="36%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Edward J. Kelly, III</p>
		</td>
		<td width="47%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Bottomline Technologies, Inc</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="17%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2018</p>
		</td>
		<td width="36%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Edmund L. Harris</p>
		</td>
		<td width="47%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			National Energy Services Reunited Corporation</p>
		</td>
	</tr>
</table>
<p style="line-height: 100%; margin-top: 0.08in; margin-bottom: 0.08in">
<font color="#666666"><font size="3" style="font-size: 12pt"><i><b>Proxy
Materials Mr. Hilal is listed on:</b></i></font></font></p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<th width="14%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Year</p>
		</th>
		<th width="86%" style="border: 1px solid #000000; padding: 0.04in"><p>
			Company</p>
		</th>
	</tr>
	<tr>
		<td rowspan="4" width="14%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			2022</p>
		</td>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Bottomline Technologies Inc</p>
		</td>
	</tr>
	<tr>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			LAZARD GLOBAL TOTAL RETURN &amp; INCOME FUND INC (LGI)</p>
		</td>
	</tr>
	<tr>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			CSX Corporation</p>
		</td>
	</tr>
	<tr>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Dollar Tree, Inc</p>
		</td>
	</tr>
	<tr>
		<td width="14%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"></td>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td rowspan="5" width="14%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			2021</p>
		</td>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Dollar Tree, Inc</p>
		</td>
	</tr>
	<tr>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Bottomline Technologies Inc</p>
		</td>
	</tr>
	<tr>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			CSX Corporation</p>
		</td>
	</tr>
	<tr>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Aramark</p>
		</td>
	</tr>
	<tr>
		<td width="86%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			LAZARD GLOBAL TOTAL RETURN &amp; INCOME FUND INC (LGI)</p>
		</td>
	</tr>
</table>
<h2 class="western">Board Priorities</h2>
<p>The shareholder base of CSX is broad and diverse. This base
includes hedge funds, index funds, wealth managers, pension funds,
CSX employees, train fans, and main street investors.</p>
<p>Having such a diverse base is a good thing. It allows CSX to raise
capital from its diverse platform of investors. That capital makes
CSX better, and stronger for the future.</p>
<p>With our investments we have some expectations. We expect CSX to
be good stewards of our capital by providing our customers with
excellent service by move trains with a strong and dedicated
workforce. After all, it starts with the customer. Without a
dedicated workforce to run trains to our customers, there is no CSX.</p>
<p>Once all that is said and done, we expect a share of the profits,
and on a regular bases. As a long term investors who knows that the
railroad business has been around for more than 200 years, I
understand there are peaks and valleys in business.
</p>
<p>By MR amping things up for short term gains, this exposes the
company to future operational risk, and threatens the long term
profitability.</p>
<p>Having a broad shareholder base comprised mostly of long term
investors, our expectation is to do the right for long term
stability. We buy it, and forget about it. This type of investor base
expects the Board to do the right thing to ensure the long term
viability of the Company not 5 year commitment.</p>
<p>Mr. Hilal has been allowed to exert outsized influence over the
Company for too long.</p>
<h2 class="western">Leadership / Management Track Record</h2>
<p style="line-height: 100%; margin-bottom: 0in">One doesn't have to
look to far to see the mistakes with PSR. CP now has more operating
employees than it did before HH arrived in 2012.</p>
<p style="line-height: 100%; margin-bottom: 0in">What do we get for
all this maximized shareholder value?</p>
<ul>
	<li><p style="line-height: 100%; margin-bottom: 0in">Unbalanced
	approach with returning shareholder value at any cost; and</p>
	<li><p style="line-height: 100%; margin-bottom: 0in">Poor customer
	satisfaction, customer loss; and</p>
	<li><p style="line-height: 100%; margin-bottom: 0in">A Burned out
	workforce that is no longer dedicated or engaged; and,</p>
	<li><p style="line-height: 100%; margin-bottom: 0in">A future of
	diminished opportunity and lower revenues which puts a 195 year old
	company at increased operational risk; and</p>
	<li><p style="line-height: 100%; margin-bottom: 0in">Labor
	imbalances and increased injury risk; and</p>
	<li><p style="line-height: 100%; margin-bottom: 0in">Lack of
	Managements regards to safeguarding the interests of <i><b>all</b></i>
	shareholders; and</p>
	<li><p style="line-height: 100%; margin-bottom: 0in">Increased Risk
	to the Company's Long-Term Financial Performance</p>
</ul>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Leadership Revolving Door</h2>
<p style="margin-top: 0.14in; margin-bottom: 0.08in; background: transparent">
Leadership with Mr. Hilal on the Board has been a revolving door of
Board members and senior management.</p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr>
		<th width="20%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			Date</p>
		</th>
		<th width="80%" valign="top" style="border: 1px solid #000000; padding: 0.04in"><p>
			Text</p>
		</th>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			2/14/2017</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Michael J. Ward, Chief Executive Officer and Chairman of the
			Board, and Clarence W. Gooden, President announce retirement.</p>
			<p>Fredrik J. Eliasson has been appointed as President of CSX</p>
			<p>Mr. Gooden, who has assumed the role of Vice Chairman of the
			Company</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			5/5/2017</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Carolyn T. Sizemore retired from her position as Controller of CSX
			Corporation following a distinguished 28-year career with the
			Company.</p>
			<p>Succeeded by Andrew L. Glassman.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			10/25/2017</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			James M. Foote is joining the company as chief operating officer.</p>
			<p>Retiring:</p>
			<p>Cindy M. Sanborn, executive vice-president and chief operating
			officer</p>
			<p>Fredrik J. Eliasson, executive vice-president and chief sales
			and marketing officer</p>
			<p>Ellen M. Fitzsimmons, executive vice president, law and public
			affairs, general counsel and corporate secretary, has announced
			her retirement from CSX,
			</p>
			<p>Nathan D. Goldman, promoted to executive vice-president, chief
			legal officer and corporate secretary.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			10/25/2017</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			October 25, 2017, James M. Foote, age 63, was appointed Executive
			Vice President and Chief Operating Officer of the Company.
			</p>
			<p>Mr. Foote was granted a cash bonus of $400,000 and an equity
			award of $2,000,000</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			12/14/2017</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			On December 14, 2017, the Board of Directors of CSX Corporation
			(the Company) appointed James M. Foote, the Company's Chief
			Operating Officer, as acting Chief Executive Officer due to the
			medical leave of E. Hunter Harrison, the Company's President and
			Chief Executive Officer.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			12/22/2017</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			James M. Foote, the Company's acting Chief Executive Officer, as
			President and Chief Executive Officer.
			</p>
			<p>Hunter Harrison, who died on December 16, 2017.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			1/8/2018</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Appointed Edmond L. Harris, age 68, as Executive Vice President of
			Operations.</p>
			<p>Upon signing his employment agreement, Mr. Harris was granted a
			cash bonus of $250,000 and an equity award of $750,000
			</p>
			<p>Mr. Harris employment agreement also provides for an annual
			base salary of $600,000 and a short-term incentive opportunity
			equal to 90% of his annual base salary. Mr. Harris will be
			eligible to participate in the Company's long-term incentive plans
			with target long-term incentive plan grants in the aggregate
			amount of $2,000,000 for each long-term incentive plan performance
			period.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			3/19/2018</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Angela C. Williams was appointed Vice President and Controller</p>
			<p>Andrew L. Glassman, who provided notice on the same date that
			he will be leaving the Company to pursue other interests.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			8/2/2018</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Retention award for Mark K. Wallace, Executive Vice President
			Chief Sales &amp; Marketing Officer.</p>
			<p>Left Canadian Pacific to join CSX</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			10/3/2018</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Edward J. Kelly, retire as Chairman of the Board
			</p>
			<p>Elected John J. Zillmer as Chairman of the Board,</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			12/20/2018</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Dennis H. Reilley notified the Board of Directors of his intention
			to retire from the Board.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			5/28/2019</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Departure of Executive Vice President and Chief Financial Officer,
			Frank A. Lonegro.
			</p>
			<p>Appointed Kevin S. Boone, age 42, as Interim Chief Financial
			Officer. Mr. Boone joined CSX in September 2017, as Vice President
			of Corporate Affairs and Chief Investor Relations Officer.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			10/2/2019</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Appointments:</p>
			<p>Kevin Boone as Executive Vice President and Chief Financial
			Officer</p>
			<p>Jamie Boychuk as Executive Vice President of Operations</p>
			<p>Ed Harris, who previously led the Operations function, will
			continue as Executive Vice President with a combination of
			operating and general executive responsibilities.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			12/19/2019</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Appointed Suzanne M. Vautrinot to serve as a member of the Board</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			5/22/2020</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Pamela L. Carter notified the Board of Directors (the Board) of
			CSX Corporation (the Company) of her intention to retire from the
			Board</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			6/11/2020</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Retirement of Executive Vice President, Edmund L. Harris</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			7/8/2020</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Appointed James L. Wainscott to serve as a member of the Board.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			10/7/2020</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Appointed Lt. General (Ret.) Thomas Bostick to serve as a member
			of the Board.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			11/29/2021</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Mark K. Wallace, Executive Vice President Chief Sales &amp;
			Marketing Officer passes away.</p>
		</td>
	</tr>
	<tr>
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			6/7/2021</p>
		</td>
		<td width="80%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Appointments:
			</p>
			<p>Mark K. Wallace as Executive Vice President of CSX</p>
			<p>Kevin S. Boone as Executive Vice President of Sales and
			Marketing</p>
			<p>Sean R. Pelkey as Vice President and Acting Chief Financial
			Officer.</p>
		</td>
	</tr>
</table>
<h2 class="western" style="background: transparent; page-break-after: avoid">
Service Issues</h2>
<p style="line-height: 100%; margin-bottom: 0in">Returning
shareholder value meant rapid consolidation and layoffs, tumultuous
change, senior executives worried by execution risk, and angry
customers.
</p>
<p align="center" style="line-height: 100%; margin-bottom: 0in"><b>Customers
and Regulators noticed</b>.</p>
<p style="line-height: 100%; margin-bottom: 0in">Surface
Transportation Board (STB) opens public listening sessions regarding
CSX Transportation, Incs Rail Service Issues on October 11, 2017.</p>
<ul>
	<li><p style="line-height: 100%; margin-bottom: 0in">Representative
	from over 25 major organizations appeared to give testimony.</p>
</ul>
<p style="line-height: 100%; margin-bottom: 0in">STB Requests Service
Updates from CSXT on October 18, 2021. STB letter compared STB
metrics for August 2021 to August 2019 and observed that CSX compares
unfavorably on velocity (-6%), dwell (+16%) and average loaded cars
not moving in 48 hours (+98%).
</p>
<h2 class="western">Shrinking Operating Revenues &amp; Increasing
Debt</h2>
<p>Over the course of 5 years Mr. Hilal has been exceedingly
successful in achieving his goal of maximizing shareholder value.
However, that success is jeopardizing the future of a proud and
essential 195 year old company.</p>
<p>When you look at the four year average of Total Railway Operating
Revenues of $11,752 billion dollars from 2012 to 2015, and $11,238
billion dollars from 2017-2020 when MR implemented PSR and started
maximizing shareholder value revenue was $514 million dollars less.</p>
<p>While the Total Railway Operating Revenues was less during that
period, the average income increased $845 million dollars during that
same period.</p>
<h3 class="western" style="page-break-before: auto; page-break-after: auto">
<font color="#c9211e">You know what else increased? Long term debt.</font></h3>
<ul>
	<li><p>From 2012 to 2015 long term debt was trending toward from
	$1,214 billion to $974 million.
	</p>
	<li><p>From 2017 to 2020 Long term debt reversed course and began
	shooting up.
	</p>
	<li><p>Long term debt went from $1,041 Billion in 2017 to $1,148
	Billion dollars in 2020.
	</p>
	<li><p>Based on the CSX SEC filings with the SEC in 2022, it appears
	the company is getting ready to issue more long term debt.</p>
</ul>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Enrichment</h2>
<p style="line-height: 100%; margin-bottom: 0in">Mr. Hilal has used
his Board position to return the lions share of that shareholder
value for Mantle Ridge.</p>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr>
		<th width="16%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			Date
			</p>
		</th>
		<th width="21%" valign="top" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p align="center">
			Filing</p>
		</th>
		<th width="63%" valign="top" style="border: 1px solid #000000; padding: 0.04in"><p align="center">
			Summary</p>
		</th>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">3/30/2017</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">CSX
			&amp; MR Entry into a Material Definitive Agreement</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Pursuant
			to the Registration Rights Agreement, the Mantle Ridge Group
			shareholders may request that the Company file a registration
			statement to register the sale of shares of Common Stock that the
			Mantle Ridge Group shareholders beneficially own, subject to the
			limitations and conditions provided in the Registration Rights
			Agreement.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">10/17/2019</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Entry
			into a Material Definitive Agreement</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="margin-bottom: 0in; text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Effective
			October 17, 2019, CSX Corporation (the Company or CSX) entered
			into a Stock Purchase Agreement with MR Argent Advisor LLC, on
			behalf of certain limited partners of its affiliated funds (Mantle
			Ridge), pursuant to which the Company agreed to purchase
			approximately 4.7 million shares of the Company's common stock
			from Mantle Ridge. </font></font></font>
			</p>
			<p style="text-decoration: none"><font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">These
			shares will be repurchased under CSXs existing $5 billion share
			repurchase authorization and funded with cash on hand. </font></font></font>
			</p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">10/17/2019</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"></td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">In
			addition, the Company has been advised by Mantle Ridge that an
			additional approximately 18.8 million shares of CSXs common stock
			has been sold into the market.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">10/25/2017</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Other
			Events</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">The
			Company announces $1.5 billion share repurchase program, which was
			previously announced on October 25, 2017.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">2/13/2018</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Other
			Events</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Additionally,
			on February 12, 2018, the CSX Board of Directors increased its
			current share repurchase program to $5 billion. This authorization
			expands the Company's $1.5 billion share repurchase program, which
			was previously announced on October 25, 2017. Management expects
			to complete the expanded $5 billion share repurchase program by
			the end of the first quarter of 2019, and plans to fund the
			repurchases using a combination of free cash flow and debt
			financing.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">1/16/2019</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			<font face="Courier, monospace">Other Events</font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">CSX
			Corporation has completed its prior $5 billion share repurchase
			program. On January 15, 2019, the Board of Directors authorized a
			new $5 billion share repurchase program.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">10/17/2019</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Entry
			into a Material Definitive Agreement</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="margin-bottom: 0in; text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Effective
			October 17, 2019, CSX Corporation (the Company or CSX) entered
			into a Stock Purchase Agreement with MR Argent Advisor LLC, on
			behalf of certain limited partners of its affiliated funds (Mantle
			Ridge), pursuant to which the Company agreed to purchase
			approximately 4.7 million shares of the Company's common stock
			from Mantle Ridge. </font></font></font>
			</p>
			<p style="text-decoration: none"><font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">These
			shares will be repurchased under CSXs existing $5 billion share
			repurchase authorization and funded with cash on hand.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">10/17/2019</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Regulation
			FD Disclosure.</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">the
			Company has been advised by Mantle Ridge that an additional
			approximately 18.8 million shares of CSXs common stock has been
			sold into the market.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">10/21/2020</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Other
			Events</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">On
			October 20, 2020 the Board of Directors authorized a new share
			repurchase program, providing $5 billion of incremental authority
			to the approximately $1.1 billion remaining under the existing
			share repurchase program.</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">6/4/2021</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Amendments
			to Articles of Incorporation or Bylaws</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">CSX
			Corporation (CSX) filed an amendment to its Amended and Restated
			Articles to increases CSXs authority to issue shares of its common
			stock, par value $1.00 per share (Common Stock), from 1.8 billion
			shares to 5.4 billion shares. The Amendment was filed in
			connection with the three-for-one split of the Common Stock</font></font></font></p>
		</td>
	</tr>
	<tr>
		<td colspan="3" width="100%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"></td>
	</tr>
	<tr>
		<td width="16%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">6/4/2021</font></font></font></p>
		</td>
		<td width="21%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Regulation
			FD Disclosure</font></font></font></p>
		</td>
		<td width="63%" valign="top" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p style="text-decoration: none">
			<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">On
			June 3, 2021, the Board of Directors of CSX (the Board) approved a
			three-for-one split of the Common Stock</font></font></font></p>
		</td>
	</tr>
</table>
<h2 class="western">Better Path Forward</h2>
<p align="left" style="line-height: 100%; margin-bottom: 0in">That
change needs to begin at the Board of Directors as at the very top.
To accomplish this, I am seeking your proxy to remove Vice Chairman
Paul C. Hilal from the Board. Mr. Hilal is the founder and
controlling member of Mantle Ridge LP.</p>
<p align="left" style="line-height: 100%; margin-bottom: 0in">The
future of CSX requires a solid foundation of satisfied customers
built with energized and engaged employees. We have an obligation to
our customers, employees, and shareholders to fix these problems.
</p>
<p align="left" style="line-height: 100%; margin-bottom: 0in">Based
on these stated concerns, I am presenting to the shareholders a
choice for Board nomination.</p>
<p>That change needs to begin at the Board of Directors as at the
very top. To accomplish this, I am seeking your proxy vote to replace
Vice Chairman Paul C. Hilal from the Board. Mr. Hilal needs to be
held accountable for the amount of money the Company paid to bring
Mr. Harrison to CSX, the poor execution of the PSR model, continued
customer service issues, lackluster strategic direction, unbalanced
focus, and the reasons set forth in the attached Proxy Statement.</p>
<h1>Background to the Solicitation</h1>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Steps taken to influence management prior to proxy solicitation</h2>
<table width="100%" cellpadding="4" cellspacing="0">
	<tr valign="top">
		<th width="20%" style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0.04in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			Date</p>
		</th>
		<th width="80%" style="border: 1px solid #000000; padding: 0.04in"><p>
			Action</p>
		</th>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			6/23/2021</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Submitted letter to Governance and Sustainability Committee
			regarding current operational issues, and that I would also share
			concerns with the one-CSX fact finding meeting.</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			6/30/2021</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Participated and commented on one-CSX fact finding video meeting.</p>
			<p>Similar issues occurring system wide.</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			12/10/2021</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Requested Board Nominee Questionnaire and Agreement from Corporate
			Secretary</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			1/07/2022</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Second Request for Board Nominee Questionnaire and agreement from
			Corporate Secretary</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			1/24/2022</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Board Nominee and Agreement received from Company</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2/3/2022</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Submittal of Properly Presented Shareholder Board Nomination to
			Company</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2/8/2022</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Correspondence with Assistant Corporate Secretary</p>
			<p>Requested meeting to meet with Board.</p>
			<p>Inquired about Governance and Sustainability Committee meeting
			date to review all submittals.</p>
			<p>Board nomination process.</p>
			<p>Submittal of Experienced Based Analysis Addendum</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			2/14/2022</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Submitted correspondence to Governance and Sustainability
			Committee the urgency of matters and issues.</p>
		</td>
	</tr>
	<tr valign="top">
		<td width="20%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: none; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0in"><p>
			3/1/2022</p>
		</td>
		<td width="80%" style="border-top: none; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; padding-top: 0in; padding-bottom: 0.04in; padding-left: 0.04in; padding-right: 0.04in"><p>
			Letter from Governance and Sustainability Chair Riefler declining
			inclusion to Board of Directors nomination slate.</p>
		</td>
	</tr>
</table>
<h1>Shareholder Nominee Qualifications(Candidate Up For Election)</h1>
<p>A proven leader with manufacturing, startup, and railroad
experience; adept in both public and private company environments and
public office.</p>
<p>A thought pioneer, challenging the status quo, driven by
curiosity, and is addicted to the thrill of creating and solving.</p>
<h3 class="western">Nominee Railroad Background</h3>
<p>Has a total of 10 years of direct T&amp;E railroading experience
in the roles of brakeman, conductor, and remote control locomotive
operator. Currently working for CSXT with previous experience with
Cedar Rapids and Iowa City Railroad.</p>
<p>Recognized by CSX for training improvements.</p>
<p>Holds a FRA Conductor, RCO license, and maintains a Michigan CDL
class A license.</p>
<h3 class="western">Community Service</h3>
<p>An elected Ferrysburg City Councilman and as Mayor Pro Tem,
engaged and listened to constituents during three election cycles.</p>
<p>Personally responsible for initiating, promoting, and passing a
$1.1 million dollar bike path bond issue for the City of Ferrysburg.
Led waterfront delineation improvements for public access, and pushed
for the building of new park restrooms.</p>
<h3 class="western">Entrepreneurial Background</h3>
<p>Current owner of privately held entities Energy Optimization
Services, LLC and Larson Manufacturing &amp; Sales.</p>
<p>Other firms he founded and played active roles in management
include: Diversified Bridge Services, LLC; a firm specializing in
contracting with government projects, and Diversified Developers of
Detour, LLC; a real estate development company.</p>
<p>Passionate about developing entrepreneurs through the Michigan
Inventors Network.</p>
<p>In addition to full time work at CSX Transportation, continues to
pursue and develop his passions at Larson Manufacturing &amp; Sales,
and Energy Optimization Services, LLC.</p>
<h3 class="western">Larson Manufacturing &amp; Sales</h3>
<p>Combining his Python programing skills and fascination in how
digital technology is transforming business, Mr. Larson launched
Larson Manufacturing &amp; Sales.
</p>
<p>As an early-stage advanced technology company based in Michigan,
the Michigan Economic Development Corporation awarded Larson
Manufacturing &amp; Sales a grant in 2017 for a prototype
development.</p>
<p>Larson Manufacturing &amp; Sales works to identify, shape,
experiment and incubate new business opportunities through the IoT
(Internet Of Things) platform.
</p>
<p>This platform enables process automation and performs data
collection from physical assets such as cars, the environment, and
even trains!</p>
<h3 class="western">Energy Optimization Services, LLC</h3>
<p style="font-weight: normal; line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Formed
in 2009 in response to Michigans Energy Portfolio Standards; Public
Act 295, Energy Optimization Services, LLC focusses on alternative
energy projects.</font></font></font></p>
<ul>
	<li><p style="font-weight: normal; line-height: 100%; margin-bottom: 0in; text-decoration: none">
	<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Recognized
	and executed opportunity in securing EV charging locations
	throughout the midwest.</font></font></font></p>
	<li><p style="line-height: 100%; margin-bottom: 0in"><font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Developed,
	bid, and executed successful federal contracting proposals.</font></font></font></p>
</ul>
<h3 class="western">Education</h3>
<p>Energized by challenges and always pursuing continuous self
learning opportunities.</p>
<ul>
	<li><p style="font-weight: normal; line-height: 100%; margin-bottom: 0in; text-decoration: none">
	<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Double
	major from Western Illinois University</font></font></font></p>
</ul>
<p style="font-weight: normal; line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000">Political Science</font></p>
<p style="font-weight: normal; line-height: 100%; margin-bottom: 0in; text-decoration: none">
<font color="#000000"><font face="Courier, monospace"><font size="3" style="font-size: 12pt">Law
Enforcement Administration in 1991.</font></font></font></p>
<ul>
	<li><p style="line-height: 100%; margin-bottom: 0in">Masters work is
	in Instructional Technology.</p>
</ul>
<ul>
	<li><p style="line-height: 100%; margin-bottom: 0in">Passionate
	about education and exposing school age children to computer
	programing.</p>
</ul>
<h2 class="western" style="background: transparent; page-break-after: avoid">
Nominee Action Plan (Objectives &amp; Goals)</h2>
<ul>
	<li><p>Focused on the Company as a whole, not just maximizing
	shareholder returns; and
	</p>
	<li><p>Ready to embed in the field across the system to listen and
	learn of issues impacting service, customers and employees; and</p>
	<li><p>Dedicated to acting with a sense of urgency on all matters;
	and
	</p>
	<li><p>Presents a fresh perspective to the Board, and committed to
	working with other Board members; and</p>
	<li><p>Contact with field employees and customers which provides a
	direct conduit of feedback and information to the Board. This
	provides the Board with the necessary facts required to conduct a
	strategic review of what is and what is not working with PSR.</p>
</ul>
<h1>How to Vote and Voting Requirements</h1>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Who wants my vote?</h2>
<p>Chris Larson is soliciting your vote on matters being submitted
for shareholder approval at the Annual Meeting. Proxies may be
solicited by mail, facsimile, telephone, telegraph, electronic mail,
Internet, television, radio, in person and by advertisements.
</p>
<p>The Participant in this solicitation is Chris Larson, CSXT
Employee and CSX Corporation Shareholder</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
How do I vote?</h2>
<p>I urge you to carefully consider the information contained in the
attached Proxy Statement and then support my nomination by voting one
of three ways today:
</p>
<p>Telephone Quickest and Most Preferred Method</p>
<p>To access a WHITE proxy card and vote by telephone call
[_________] or Toll Free at [_________]. Telephone voting is quick
and simple.</p>
<p>Internet Voting Preferred</p>
<p>To access a WHITE proxy card and vote via the internet go to
[___________]</p>
<p>Mail Voting Least Preferred</p>
<p>To submit a proxy vote by mail, go to [website]. At that website
you will find a Vote by Mail link. Click on the link, download and
print the WHITE proxy card, and mail the WHITE proxy card to:</p>
<p>Chris Larson</p>
<p>CSX Board Nominee</p>
<p>PO Box #2</p>
<p>Ferrysburg, MI 49409</p>
<p><b>Vote by Internet.</b> The website address for Internet voting
is [_____]. If you are a beneficial owner, or you hold your shares in
street name (that is, through a bank, broker or other nominee),
please visit the website [_______] for voting instructions.
</p>
<p><b>Vote by Telephone</b>. If you are a shareholder your shares by
telephone 24 hours a day by calling [__Toll-Free Number] on a
touch-tone telephone. Easy-to-follow voice prompts enable you to vote
your shares and confirm that your instructions have been properly
recorded. If you are a beneficial owner, or you hold your shares in
street name, please check [__Website__] for voting instructions.</p>
<p><b>Vote by Mail</b>. Please see [__Website__] for voting
instructions.</p>
<p>To vote during the Annual Meeting, you must visit at the time of
the Annual Meeting and enter the 16-digit control number included on
your proxy card sent to you by the Company. Even if you plan to
participate in the Annual Meeting, we recommend that you vote by
proxy as described above prior to the Annual Meeting so that your
vote will be counted if you later decide not to participate in the
Annual Meeting.</p>
<h1>Your vote is important!</h1>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Who is entitled to vote?</h2>
<p>Only shareholders of record at the close of business on March 8,
2022 (the Record Date) are entitled to notice of, and to vote at, the
Annual Meeting or any adjournments or postponements thereof, unless a
new record date is set in connection with any such adjournments or
postponements. On March 8, 2022, there were issued and outstanding
2,178,580,270 shares of CSX common stock, the only outstanding class
of voting securities of the Company.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Solicitation of Proxies</h2>
<p>Chris Larson is soliciting your vote on the matters being
submitted for shareholder approval at the Annual Meeting. Chris
Larson is paying the costs of preparing proxy materials and
soliciting proxies.</p>
<p>Proxies may be solicited in person, by telephone or by electronic
communication by Chris Larson or his supporters acting without
compensation.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Notice of Internet Availability &amp; Obtaining A Proxy</h2>
<p>In accordance with rules adopted by the SEC, I may furnish proxy
materials, including this Proxy Statement, to the shareholders by
providing access to such documents on the Internet instead of mailing
printed copies (the Notice). Instead, you are to go to [__website__]
for the Notice and which instructs you as to how you may access and
review all of the proxy materials on the Internet. The Notice also
instructs you as to how you may submit your proxy on the Internet.
</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Submitting a Proxy</h2>
<p style="margin-bottom: 0in">The Notice at [__website__] provides
you with instructions on how to:</p>
<p style="margin-bottom: 0in">request a WHITE proxy card; and</p>
<p style="margin-bottom: 0in">view CSXs proxy materials for the
Annual Meeting on the Internet.</p>
<h1>Voting Information
</h1>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
How many votes do I have?</h2>
<p>You will have one vote for every share of CSX common stock you
owned at the close of business on the Record Date.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Can I change my vote?</h2>
<p>Yes. Please visit [__website__] for instructions. If you hold your
shares in street name, you should follow the instructions provided by
your bank, broker or other nominee if you wish to change your vote.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
What happens if I submit my proxy without giving voting instructions?</h2>
<p>If you hold your shares in street name through a bank, broker or
other nominee, the bank, broker or other nominee is required to vote
those shares in accordance with your instructions. If you do not give
instructions to the banker, broker or other nominee, the bank, broker
or other nominee will be entitled to vote your shares with respect to
discretionary items but will not be permitted to vote your shares
with respect to non-discretionary items (those shares are treated as
broker non-votes).</p>
<p>The proposal to ratify the appointment of EY as CSXs Independent
Registered Public Accounting Firm for 2022 is considered a routine
matter for which a bank, broker or other nominee will have
discretionary voting power if you do not give instructions with
respect to this proposal.
</p>
<p>The proposals to: (i) elect directors; and (ii) vote on an
advisory (non-binding) resolution on executive compensation are
non-routine matters for which a bank, broker or other nominee will
not have discretionary voting power and for which specific
instructions from owners who hold their shares in street name are
required in order for a broker to vote your shares.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
What happens if other matters are properly presented at the Annual
Meeting?</h2>
<p>If any other matters are properly presented for consideration at
the Annual Meeting, the person named as proxy on the enclosed proxy
card will have discretion to vote on those matters for you.
</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
How are votes counted?</h2>
<p>Votes are counted by an independent inspector of elections
appointed by the Company.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
What happens if the Annual Meeting is postponed or adjourned?</h2>
<p>Unless a new record date has been fixed, your proxy will still be
in effect and may be voted at the reconvened meeting. You will still
be able to change your vote or revoke your proxy with respect to any
item until the polls have closed for voting on such item.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Votes Required for Approval</h2>
<h3 class="western">Election of Directors
</h3>
<p>In a contested election, where the number of nominees for director
election exceeds the number of directors to be elected, directors are
elected by a plurality of the votes cast.
</p>
<p>Because there are 11 seats on our Board of Directors, this means
that if there are more than 11 persons properly nominated for
election, the 11 nominees receiving the most <b>for</b> votes will be
elected, even if the number of votes cast <b>for</b> the director do
not exceed those cast <b>against</b> him or her.
</p>
<h1>Election Day</h1>
<h1>Proposals Up For Vote</h1>
<p style="line-height: 100%; margin-bottom: 0in">1. To elect
Shareholder Board Nominee Chirs Larson to the Board of Directors of
CSX Corporation, and to serve until the 2023 annual meeting of
shareholders.</p>
<p style="line-height: 100%; margin-bottom: 0in">2. To ratify the
selection of independent registered public accounting firm.</p>
<p style="line-height: 100%; margin-bottom: 0in">3. To To conduct an
advisory vote on the compensation of the Company's executive
officers.</p>
<h2 class="western" style="background: transparent; page-break-before: auto; page-break-after: avoid">
Quorum; Broker Non-Votes; Discretionary Voting</h2>
<p>The Company's bylaws provide that a majority of the outstanding
shares of stock entitled to vote constitutes a quorum at any meeting
of shareholders. If a share is represented for any purpose at the
Annual Meeting, it is deemed to be present for the transaction of all
business. Abstentions and shares held of record by a broker, bank or
other nominee that are voted on any matter are included in
determining the number of shares present.</p>
<p>Shares held by a broker, bank or other nominee that are not voted
on any matter at the Annual Meeting will not be included in
determining whether a quorum is present.</p>
<p>Your vote is important and we urge you to vote by proxy even if
you plan to attend the Annual Meeting.</p>
<h1>Other Information and information About the Company</h1>
<p>Material and information found in this material can be found at:
[__website__], and is also available on the website maintained by the
SEC.</p>
<p>Material and information referenced to the Company or the
company's Proxy materials can can be found free of charge at:</p>
<p>The 2021 Annual Report (without exhibits) is available on the
company website. The 2021 Annual Report (with exhibits) is also
available on the website maintained by the SEC.</p>
<h1>Questions?</h1>
<p style="line-height: 100%; margin-bottom: 0in">If you have any
questions or require any assistance with your vote, please contact
Chris Larson at my address, through my website, or by calling my
telephone number. The contact information is listed below;</p>
<p style="line-height: 100%; margin-bottom: 0in">I want to thank you
for your support!</p>
<p style="line-height: 100%; margin-bottom: 0in">Chris Larson</p>
<p style="line-height: 100%; margin-bottom: 0in">Mail:</p>
<p style="line-height: 100%; margin-bottom: 0in">CSX Board Nominee</p>
<p style="line-height: 100%; margin-bottom: 0in">PO Box #2</p>
<p style="line-height: 100%; margin-bottom: 0in">Ferrysburg, MI 49409</p>
<p style="line-height: 100%; margin-bottom: 0in">[__website__]</p>
<p style="line-height: 100%; margin-bottom: 0in">[__Toll free
telephone number__]</p>
<p style="line-height: 100%; margin-bottom: 0in">[__email address__]</p>
<h1>IMPORTANT
</h1>
<p>Your vote is important, no matter how few shares of Common Stock
you own.
</p>
<p>To vote you, you must request from Chris Larson a WHITE Voting
Instruction Form. This form is available for free and is available
for download from the internet at:[__website__]</p>
<p>If you have any questions or require assistance in voting your
WHITE proxy card, please consult the website[__website__] for more
information or instructions.
</p>
<p>You are more than welcome to call Chris Larson at the phone number
listed below for assistance as well. Please keep in mind I am not a
well funded dissident shareholder. I am out on the rails experiencing
the good, the bad, and the ugly of the railroad. It may take some
time for me to get back to you.</p>
<p>Thank You Again</p>
<p>Chris Larson</p>
<p>PO Box #2</p>
<p>Ferrysburg, MI</p>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
