NORFOLK SOUTHERN CORP

Ticker: NSC CUSIP: 655844108 Class: COM

State of Tennessee, Department of Treasury's Holding History (CIK: 0001587973)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 76,445 Value ($000) $22,264 Avg Close $288.62 Range $277.08 - $300.79

Q3 2025

Shares 91,531 Value ($000) $27,497 Avg Close $276.03 Range $252.95 - $299.47

Q2 2025

Shares 97,059 Value ($000) $24,844 Avg Close $233.06 Range $198.48 - $255.81

Q1 2025

Shares 78,005 Value ($000) $18,475 Avg Close $239.35 Range $222.00 - $264.36

Q4 2024

Shares 97,030 Value ($000) $22,773 Avg Close $248.46 Range $225.19 - $271.79

Q3 2024

Shares 101,061 Value ($000) $25,114 Avg Close $233.00 Range $204.24 - $253.86

Q2 2024

Shares 68,529 Value ($000) $14,712 Avg Close $224.21 Range $200.19 - $246.91

Q1 2024

Shares 101,359 Value ($000) $25,833 Avg Close $237.76 Range $214.83 - $253.85

Q4 2023

Shares 111,914 Value ($000) $26,454 Avg Close $200.12 Range $174.02 - $227.48

Q3 2023

Shares 36,185 Value ($000) $7,126 Avg Close $205.00 Range $184.44 - $225.83

Q2 2023

Shares 36,803 Value ($000) $8,345 Avg Close $200.25 Range $185.68 - $215.05

Q1 2023

Shares 36,803 Value ($000) $7,802 Avg Close $216.72 Range $184.28 - $242.90

Q4 2022

Shares 35,595 Value ($000) $9 Avg Close $220.43 Range $189.06 - $244.31

Q3 2022

Shares 39,427 Value ($000) $8 Avg Close $222.85 Range $194.58 - $245.30

Q2 2022

Shares 39,427 Value ($000) $8,961 Avg Close $226.47 Range $202.60 - $262.57

Q1 2022

Shares 59,395 Value ($000) $16,940 Avg Close $252.93 Range $227.90 - $273.69

Q4 2021

Shares 66,251 Value ($000) $19,724 Avg Close $255.22 Range $218.02 - $273.89

Q3 2021

Shares 42,283 Value ($000) $10,117 Avg Close $233.46 Range $217.60 - $249.27

Q2 2021

Shares 51,350 Value ($000) $13,629 Avg Close $250.29 Range $237.13 - $267.99

Q1 2021

Shares 51,571 Value ($000) $13,848 Avg Close $228.85 Range $207.42 - $247.83

Q4 2020

Shares 45,583 Value ($000) $10,831 Avg Close $204.73 Range $176.03 - $223.49

Q3 2020

Shares 73,948 Value ($000) $15,824 Avg Close $179.92 Range $151.06 - $201.91

Q2 2020

Shares 118,941 Value ($000) $20,883 Avg Close $150.98 Range $121.35 - $179.10

Q1 2020

Shares 426,986 Value ($000) $62,340 Avg Close $163.63 Range $100.01 - $194.41

Q4 2019

Shares 424,306 Value ($000) $82,370 Avg Close $165.56 Range $146.52 - $174.77

Q3 2019

Shares 283,557 Value ($000) $50,944 Avg Close $161.51 Range $148.22 - $182.44

Q2 2019

Shares 392,608 Value ($000) $78,259 Avg Close $173.34 Range $164.54 - $184.28

Q1 2019

Shares 127,714 Value ($000) $23,868 Avg Close $150.47 Range $124.50 - $164.26

Q4 2018

Shares 410,105 Value ($000) $61,327 Avg Close $142.35 Range $120.21 - $160.07

Q3 2018

Shares 305,179 Value ($000) $55,085 Avg Close $147.16 Range $128.72 - $161.27

Q2 2018

Shares 113,604 Value ($000) $17,139 Avg Close $125.28 Range $109.19 - $136.18

Q1 2018

Shares 95,188 Value ($000) $12,925 Avg Close $122.67 Range $112.62 - $133.63

Q4 2017

Shares 114,669 Value ($000) $16,615 Avg Close $113.99 Range $106.48 - $124.43

Q3 2017

Shares 101,205 Value ($000) $13,383 Avg Close $102.71 Range $93.81 - $113.26

Q2 2017

Shares 88,464 Value ($000) $10,767 Avg Close $98.76 Range $93.02 - $105.49

Q1 2017

Shares 111,000 Value ($000) $12,429 Avg Close $97.78 Range $88.22 - $104.69

Q4 2016

Shares 112,772 Value ($000) $12,188 Avg Close $83.99 Range $74.46 - $92.84

Q3 2016

Shares 96,531 Value ($000) $9,369 Avg Close $75.16 Range $68.43 - $80.53

Q2 2016

Shares 66,253 Value ($000) $5,640 Avg Close $69.72 Range $63.83 - $76.86

Q1 2016

Shares 45,476 Value ($000) $3,786 Avg Close $61.54 Range $52.69 - $70.78

Q4 2015

Shares 42,042 Value ($000) $3,556 Avg Close $69.12 Range $61.01 - $79.94

Q3 2015

Shares 46,800 Value ($000) $3,576 Avg Close $65.12 Range $57.94 - $70.74

Q2 2015

Shares 48,400 Value ($000) $4,228 Avg Close $77.43 Range $69.21 - $84.64

Q1 2015

Shares 156,950 Value ($000) $16,154 Avg Close $84.19 Range $78.29 - $88.38

Q4 2014

Shares 159,750 Value ($000) $17,510 Avg Close $85.81 Range $79.24 - $92.28

Q3 2014

Shares 142,450 Value ($000) $15,897 Avg Close $82.62 Range $77.74 - $88.50

Q2 2014

Shares 52,700 Value ($000) $5,430 Avg Close $76.02 Range $70.92 - $81.20

Q1 2014

Shares 222,600 Value ($000) $21,630 Avg Close $71.41 Range $66.84 - $75.69

Q4 2013

Shares 220,900 Value ($000) $20,506 Avg Close $65.71 Range $58.01 - $71.47

Q3 2013

Shares 56,100 Value ($000) $4,339 Avg Close $56.99 Range $54.14 - $60.17

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	76,445	$22,264	$288.62	$277.08 - $300.79
Q3 2025	91,531	$27,497	$276.03	$252.95 - $299.47
Q2 2025	97,059	$24,844	$233.06	$198.48 - $255.81
Q1 2025	78,005	$18,475	$239.35	$222.00 - $264.36
Q4 2024	97,030	$22,773	$248.46	$225.19 - $271.79
Q3 2024	101,061	$25,114	$233.00	$204.24 - $253.86
Q2 2024	68,529	$14,712	$224.21	$200.19 - $246.91
Q1 2024	101,359	$25,833	$237.76	$214.83 - $253.85
Q4 2023	111,914	$26,454	$200.12	$174.02 - $227.48
Q3 2023	36,185	$7,126	$205.00	$184.44 - $225.83
Q2 2023	36,803	$8,345	$200.25	$185.68 - $215.05
Q1 2023	36,803	$7,802	$216.72	$184.28 - $242.90
Q4 2022	35,595	$9	$220.43	$189.06 - $244.31
Q3 2022	39,427	$8	$222.85	$194.58 - $245.30
Q2 2022	39,427	$8,961	$226.47	$202.60 - $262.57
Q1 2022	59,395	$16,940	$252.93	$227.90 - $273.69
Q4 2021	66,251	$19,724	$255.22	$218.02 - $273.89
Q3 2021	42,283	$10,117	$233.46	$217.60 - $249.27
Q2 2021	51,350	$13,629	$250.29	$237.13 - $267.99
Q1 2021	51,571	$13,848	$228.85	$207.42 - $247.83
Q4 2020	45,583	$10,831	$204.73	$176.03 - $223.49
Q3 2020	73,948	$15,824	$179.92	$151.06 - $201.91
Q2 2020	118,941	$20,883	$150.98	$121.35 - $179.10
Q1 2020	426,986	$62,340	$163.63	$100.01 - $194.41
Q4 2019	424,306	$82,370	$165.56	$146.52 - $174.77
Q3 2019	283,557	$50,944	$161.51	$148.22 - $182.44
Q2 2019	392,608	$78,259	$173.34	$164.54 - $184.28
Q1 2019	127,714	$23,868	$150.47	$124.50 - $164.26
Q4 2018	410,105	$61,327	$142.35	$120.21 - $160.07
Q3 2018	305,179	$55,085	$147.16	$128.72 - $161.27
Q2 2018	113,604	$17,139	$125.28	$109.19 - $136.18
Q1 2018	95,188	$12,925	$122.67	$112.62 - $133.63
Q4 2017	114,669	$16,615	$113.99	$106.48 - $124.43
Q3 2017	101,205	$13,383	$102.71	$93.81 - $113.26
Q2 2017	88,464	$10,767	$98.76	$93.02 - $105.49
Q1 2017	111,000	$12,429	$97.78	$88.22 - $104.69
Q4 2016	112,772	$12,188	$83.99	$74.46 - $92.84
Q3 2016	96,531	$9,369	$75.16	$68.43 - $80.53
Q2 2016	66,253	$5,640	$69.72	$63.83 - $76.86
Q1 2016	45,476	$3,786	$61.54	$52.69 - $70.78
Q4 2015	42,042	$3,556	$69.12	$61.01 - $79.94
Q3 2015	46,800	$3,576	$65.12	$57.94 - $70.74
Q2 2015	48,400	$4,228	$77.43	$69.21 - $84.64
Q1 2015	156,950	$16,154	$84.19	$78.29 - $88.38
Q4 2014	159,750	$17,510	$85.81	$79.24 - $92.28
Q3 2014	142,450	$15,897	$82.62	$77.74 - $88.50
Q2 2014	52,700	$5,430	$76.02	$70.92 - $81.20
Q1 2014	222,600	$21,630	$71.41	$66.84 - $75.69
Q4 2013	220,900	$20,506	$65.71	$58.01 - $71.47
Q3 2013	56,100	$4,339	$56.99	$54.14 - $60.17