Norfolk Southern renews HQ lease for 5 years, $498.7M aggregate; reclassifies as finance lease

NORFOLK SOUTHERN CORP

Renewed lease for headquarters at 650 West Peachtree Street, Atlanta, for a 5-year term starting April 1, 2026.
Aggregate lease amount of approximately $498.7 million at floating interest rate (Term SOFR plus margin).
Lease reclassified from operating to finance lease for financial reporting purposes.
Norfolk Southern Corporation guarantees subsidiary's obligations under the lease.
BAL (BA Leasing BSC, LLC) now sole counterparty; previous bank interests transferred.

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