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Form of Proxy

UNION PACIFIC CORPORATION

Notes

No. Proposition For Against Abstain
1

Election of Director: Sheri H. Edison

2

Election of Director: Teresa M. Finley

3

Election of Director: Deborah C. Hopkins

4

Election of Director: Jane H. Lute

5

Election of Director: Michael R. McCarthy

6

Election of Director: Doyle R. Simons

7

Election of Director: John K. Tien, Jr.

8

Election of Director: V. James Vena

9

Election of Director: John P. Wiehoff

10

Election of Director: W Anthony Will

11

Election of Director: Christopher J. Williams

12

Ratification of the appointment of Deloitte & Touche LLP as the independent registered public accounting firm of the Company for 2026.

13

Approve, by non-binding vote, the compensation of the Companys Named Executive Officers (Say on Pay).