On March 26, 2024, Union Pacific Corporation announced that it has received a shareholder proposal from AFL-CIO Equity Index Funds requesting that the Company urge the Board of Directors to take the steps necessary to amend the charter of the Board?s Safety and Service Quality Committee to provide that the Committee has the power and duty to review staffing levels and their impact on safety, and to meet and confer on safety issues with relevant stakeholders such as customers, communities, employees, and labor unions. In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholders scheduled to be held on May 9, 2024.