# EDGAR Filing Document

**Accession Number:** 0000277948
**File Stem:** 0000950103-25-013592
**Filing Date:** 2025-10
**Character Count:** 28983
**Document Hash:** b8e2ec87a6ce83e71426e04206e9b61d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-013592.hdr.sgml**: 20251023

**ACCESSION NUMBER**: 0000950103-25-013592

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 19

**CONFORMED PERIOD OF REPORT**: 20251020

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251023

**DATE AS OF CHANGE**: 20251023

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CSX CORP
- **CENTRAL INDEX KEY:** 0000277948
- **STANDARD INDUSTRIAL CLASSIFICATION:** RAILROADS, LINE-HAUL OPERATING [4011]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 621051971
- **STATE OF INCORPORATION:** VA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08022
- **FILM NUMBER:** 251413816

**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

?xml version='1.0' encoding='ASCII'?

------

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): October 23, 2025 (October 20, 2025)**

**CSX CORPORATION**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Virginia** | **001-08022** | **62-1051971** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **500 Water Street, 15th Floor, Jacksonville, Florida** | **32202** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code: (904) 359-3200**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading** <br> **Symbol(s)** | **Name of each exchange** <br> **on which registered**  |
| Common Stock, $1 Par Value | CSX | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

------

---

| | |
|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant** |

---

See Item 8.01

---

| | |
|:---|:---|
| **Item 8.01** | **Other Events** |

---

On October 23, 2025, CSX Corporation (the "Company") completed a public offering of $300,000,000 aggregate principal amount of the Company's 5.050% Notes due 2035 (the "Notes"). The Notes constitute a further issuance of, and will form a single series with, the Company's outstanding 5.050% Notes due 2035 issued on March 10, 2025 in an initial aggregate principal amount of $600,000,000. The Notes were issued pursuant to an indenture, dated as of August 1, 1990, between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), successor to JPMorgan Chase Bank, N.A. (formerly known as The Chase Manhattan Bank), as trustee, as supplemented by a First Supplemental Indenture dated as of June 15, 1991, a Second Supplemental Indenture dated as of May 6, 1997, a Third Supplemental Indenture dated as of April 22, 1998, a Fourth Supplemental Indenture dated as of October 30, 2001, a Fifth Supplemental Indenture dated as of October 27, 2003, a Sixth Supplemental Indenture dated as of September 23, 2004, a Seventh Supplemental Indenture dated as of April 25, 2007, an Eighth Supplemental Indenture dated as of March 24, 2010, a Ninth Supplemental Indenture, dated as of February 12, 2019, a Tenth Supplemental Indenture, dated as of December 10, 2020 and an Eleventh Supplemental Indenture, dated as of July 28, 2022 (collectively, the "Indenture") and an Action of Authorized Pricing Officers of the Company dated as of October 20, 2025. The offering of the Notes was made pursuant to the Company's shelf registration statement on Form S-3ASR (Registration No. 333-285319) which became effective February 27, 2025. On October 22, 2025, the Company filed with the Securities and Exchange Commission, pursuant to Rule 424(b)(2) under the Securities Act of 1933, its Prospectus, dated February 27, 2025, and Prospectus Supplement, dated October 20, 2025, pertaining to the offering and sale of the Notes.

The foregoing summary is qualified by reference to the Action of Authorized Pricing Officers of the Company and the form of global note for the offering, which are filed as exhibits to this Current Report on Form 8-K and are incorporated by reference herein and in the above-referenced shelf registration statement.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits** |

---

(d) The following exhibits are being filed herewith:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;4.1 | [Action of Authorized Pricing Officers of CSX Corporation dated October 20, 2025.](dp236260_ex0401.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.2 | [Form of Global Note (incorporated by reference to Exhibit 4.2 to CSX Corporation's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 10, 2025).](https://www.sec.gov/Archives/edgar/data/277948/000119312525050848/d940299dex42.htm) |
| 5.1.1 | [Opinion of Davis Polk & Wardwell LLP.](dp236260_ex050101.htm) |
| 5.1.2 | [Opinion of Hunton Andrews Kurth LLP.](dp236260_ex050102.htm) |
| 23.1.1 | [Consent of Davis Polk & Wardwell LLP (included in Exhibit 5.1.1).](dp236260_ex050101.htm) |
| 23.1.2 | [Consent of Hunton Andrews Kurth LLP (included in Exhibit 5.1.2).](dp236260_ex050102.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |

---

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | CSX CORPORATION | CSX CORPORATION |
| Date: October 23, 2025 | By: | /s/ Sean R. Pelkey |
|  | Name: | Sean R. Pelkey |
|  | Title: | Executive Vice President and Chief Financial Officer |

---

## Exhibit 4.1

**Exhibit 4.1**

CSX CORPORATION

<u>Action of Authorized Pricing Officers</u>

October 20, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Pursuant to (i) Section 301 of the Indenture, dated as of August 1, 1990, between CSX Corporation (the "Corporation") and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), successor to JPMorgan Chase Bank, N.A. (formerly The Chase Manhattan Bank), as trustee (the "Trustee"), as heretofore supplemented and amended (the "Indenture") and (ii) resolutions duly adopted by the Board of Directors of the Corporation as of February 5, 2019, July 12, 2022, May 9, 2023, December 10, 2024 and May 6, 2025, the undersigned officers hereby authorize the reopening of the existing series of 5.050% Notes due 2035 (the "Notes") established in the Action of Authorized Pricing Officers Dated March 6, 2025. Such series of Securities shall be issued under the Indenture and shall have the terms set forth in the Prospectus and the Prospectus Supplement attached as <u>Exhibit A</u> (collectively, the "Prospectus") and such other or different terms as may be set forth herein. The Notes will be issued in fully registered form only, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Terms used herein and not defined shall have the meaning assigned to them in the Indenture or the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The form and terms of the Notes substantially in the form of <u>Exhibit B</u> attached hereto are hereby approved under the Indenture; and the President and Chief Executive Officer, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer, the Corporate Secretary, any Assistant Corporate Secretary or the Controller of the Corporation are, and each of them with full power to act without the others hereby is, authorized, in the name and on behalf of the Corporation, to execute, manually or by facsimile signature, and in the manner provided in the Indenture, the Notes (and, in addition, to replace lost, stolen, mutilated or destroyed Notes, all as provided in the Indenture) substantially in the form approved hereby, in both temporary and definitive form, with such changes, modifications and insertions therein as the officer executing the Notes shall determine, such determination to be conclusively evidenced by the execution thereof by such officer, all in the manner and form required in, or contemplated by, the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The signatures of the officers of the Corporation so authorized to execute the Notes may, but need not be, the facsimile signatures of the current or any future such authorized officers imprinted or otherwise reproduced thereon, the Corporation for such purpose hereby adopting such facsimile signatures as binding upon it, notwithstanding that at the time any Notes shall be authenticated and delivered or disposed of any officer so signing shall have ceased to be such authorized officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The form, terms and provisions of the Indenture are hereby ratified and approved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The form, terms and provisions of the Underwriting Agreement, dated October 20, 2025 (the "Underwriting Agreement"), between the Corporation and the Underwriters named on Schedule II thereto, providing for the issuance and sale of the Notes are hereby approved; and the President and Chief Executive Officer, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer, any General Counsel or Assistant General Counsel, the Corporate Secretary, or any Assistant Corporate Secretary of the Corporation (each an "Authorized Officer" and collectively, the "Authorized Officers") are, and each of them with full power to act without the others hereby is, authorized and directed to execute and deliver, in the name and on behalf of the Corporation, the Underwriting Agreement with such changes therein as the officer of the Corporation executing the Underwriting Agreement shall approve, the execution thereof by such officer to be conclusive evidence of such approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The form and terms of the Prospectus are hereby approved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The Authorized Officers are, and each of them with full power to act without the others hereby is, authorized and empowered to take all actions, and to execute and deliver any and all documents, in the name and on behalf of the Corporation as such officer or officers shall deem necessary or appropriate to effect or otherwise carry out the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Any and all actions heretofore or hereafter taken by any officer or officers of the Corporation within the terms of the foregoing, including without limitation, the filing of a registration statement and amendments, supplements and addenda thereto with the Securities and Exchange Commission with respect to the Notes and other securities which may be issued pursuant to the Indenture, are hereby ratified and confirmed as the act of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. The Notes may be authenticated by the Trustee and issued in accordance with the Indenture.

Dated as of the date first set forth above.

---

| | | |
|:---|:---|:---|
| Authorized Pricing Officers | Authorized Pricing Officers | Authorized Pricing Officers |
| By: | /s/ Bill Slater | /s/ Bill Slater |
|  | Name: | Bill Slater |
|  | Title: | Vice President and Treasurer |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ Sean R. Pelkey | /s/ Sean R. Pelkey |
|  | Name: | Sean R. Pelkey |
|  | Title: | Executive Vice President and |
|  |  | Chief Financial Officer |

---

## Exhibit 5.11

---

| | | |
|:---|:---|:---|
|  |  | **draft** |
| ![](image_004.jpg) | Davis Polk & Wardwell llp<br>450 Lexington Avenue<br> New York, NY 10017<br>davispolk.com<br>|  |

---

**Exhibit 5.1.1**

---

| |
|:---|
| October 23, 2025<br>|
| CSX Corporation - $300,000,000 aggregate principal amount of its 5.050% Notes due 2035 |

---

CSX Corporation<br> 500 Water Street, 15th Floor<br> Jacksonville, Florida 32202<br>

Ladies and Gentlemen:

CSX Corporation, a Virginia corporation (the "**Company**"), has filed with the Securities and Exchange Commission a Registration Statement on Form S-3 (File No. 333-285319) (the "**Registration Statement**") for the purpose of registering under the Securities Act of 1933, as amended (the "**Securities Act**"), certain securities, including an additional $300,000,000 aggregate principal amount of the Company's 5.050% Notes due 2035 (the "**Securities**"). The Securities are to be issued pursuant to the provisions of the Indenture dated as of August 1, 1990, between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), successor to JPMorgan Chase Bank, N.A. (formerly The Chase Manhattan Bank), as trustee (the "**Trustee**"), as supplemented and amended by the First Supplemental Indenture dated as of June 15, 1991, the Second Supplemental Indenture dated as of May 6, 1997, the Third Supplemental Indenture dated as of April 22, 1998, the Fourth Supplemental Indenture dated as of October 30, 2001, the Fifth Supplemental Indenture dated as of October 27, 2003, the Sixth Supplemental Indenture dated as of September 23, 2004, the Seventh Supplemental Indenture dated as of April 25, 2007, the Eighth Supplemental Indenture dated as of March 24, 2010, the Ninth Supplemental Indenture dated as of February 12, 2019, the Tenth Supplemental Indenture dated as of December 10, 2020 and the Eleventh Supplemental Indenture dated as of July 28, 2022 (collectively, the "**Indenture**"). The Securities will constitute a further issuance of, and will form a single series with, the Company's outstanding 5.050% Notes due 2035 issued on March 10, 2025 in the original aggregate principal amount of $600,000,000. The Securities are to be sold pursuant to the Underwriting Agreement dated October 20, 2025 (the "**Underwriting Agreement**") among the Company and the several underwriters named therein (the "**Underwriters**").

We, as your counsel, have examined originals or copies of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary or advisable for the purpose of rendering this opinion.

In rendering the opinion expressed herein, we have, without independent inquiry or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all signatures on all documents that we reviewed are genuine, (iv) all natural persons executing documents had and have the legal capacity to do so, (v) all statements in certificates of public officials and officers of the Company that we reviewed were and are accurate and (vi) all representations made by the Company as to matters of fact in the documents that we reviewed were and are accurate.

---

| | |
|:---|:---|
| ![](image_005.jpg) | CSX Corporation<br>|

---

Based upon the foregoing, and subject to the additional assumptions and qualifications set forth below, we advise you that, in our opinion, assuming the due authorization of the Securities by the Company and assuming the Securities have been duly executed and authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters pursuant to the Underwriting Agreement, the Securities will constitute valid and binding obligations of the Company, enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights generally, concepts of reasonableness and equitable principles of general applicability, provided that we express no opinion as to the (x) enforceability of any waiver of rights under any usury or stay law, (y) effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (z) validity, legally binding effect or enforceability of any provision that permits holders to collect any portion of stated principal amount upon acceleration of the Securities to the extent determined to constitute unearned interest.

In connection with the opinion expressed above, we have assumed that the Company is validly existing as a corporation in good standing under the laws of the Commonwealth of Virginia. In addition, we have assumed that the Indenture and the Securities (collectively, the "**Documents**") are valid, binding and enforceable agreements of each party thereto (other than as expressly covered above in respect of the Company). We have also assumed that the execution, delivery and performance by each party to each Document to which it is a party (a) are within its corporate powers, (b) do not contravene, or constitute a default under, the certificate of incorporation or bylaws or other constitutive documents of such party, (c) require no action by or in respect of, or filing with, any governmental body, agency or official and (d) do not contravene, or constitute a default under, any provision of applicable law or regulation or any judgment, injunction, order or decree or any agreement or other instrument binding upon such party.

We are members of the Bar of the State of New York and the foregoing opinion is limited to the laws of the State of New York, except that we express no opinion as to (i) any law, rule or regulation that is applicable to the Company, the Documents or such transactions solely because such law, rule or regulation is part of a regulatory regime applicable to any party to any of the Documents or any of its affiliates due to the specific assets or business of such party or such affiliate or (ii) any law, rule or regulation relating to national security. Insofar as the foregoing opinion involves matters governed by the laws of the Commonwealth of Virginia, we have relied, without independent inquiry or investigation, on the opinion of Hunton Andrews Kurth LLP to be filed as an exhibit to a report on Form 8-K to be filed by the Company on the date hereof.

We hereby consent to the filing of this opinion as an exhibit to a report on Form 8-K to be filed by the Company on the date hereof and its incorporation by reference into the Registration Statement and further consent to the reference to our name under the caption "Legal Matters" in the prospectus supplement which is a part of the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.

Very truly yours,

/s/ Davis Polk & Wardwell LLP

October 23, 2025

October 23, 2025 2

## Exhibit 5.12

**Exhibit 5.1.2**

---

| | |
|:---|:---|
| ![](image_002.jpg)<br>| Hunton Andrews Kurth LLP<br>File No: 034253.0000117 |

---

October 23, 2025

Board of Directors

CSX Corporation

500 Water Street, 15<sup>th</sup> Floor

Jacksonville, Florida 32202

**CSX Corporation**

**Public Offering of** 

**$300,000,000 5.050% Notes due 2035**

To the Addressees:

We have acted as Virginia counsel to CSX Corporation, a Virginia corporation (the "**Company**"), for the purpose of providing this opinion letter in connection with the Company's offering and sale of $300,000,000 aggregate principal amount of its 5.050% Notes due 2035 (the "**Notes**"). The Notes are to be sold pursuant to the Underwriting Agreement, dated October 20, 2025 (the "**Underwriting Agreement**"), between the Company and the several underwriters named therein, for whom Citigroup Global Markets Inc., J.P. Morgan Securities LLC and UBS Securities LLC are acting as representatives.

The Notes are being issued pursuant to an indenture, dated August 1, 1990, between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), successor to JPMorgan Chase Bank, N.A. (formerly known as The Chase Manhattan Bank), as trustee, as supplemented by a First Supplemental Indenture, dated June 15, 1991, a Second Supplemental Indenture, dated May 6, 1997, a Third Supplemental Indenture, dated April 22, 1998, a Fourth Supplemental Indenture, dated October 30, 2001, a Fifth Supplemental Indenture, dated October 27, 2003, a Sixth Supplemental Indenture, dated September 23, 2004, a Seventh Supplemental Indenture, dated April 25, 2007, an Eighth Supplemental Indenture, dated March 24, 2010, a Ninth Supplemental Indenture, dated February 12, 2019, a Tenth Supplemental Indenture, dated December 10, 2020 and an Eleventh Supplemental Indenture, dated July 28, 2022 (collectively, the "**Indenture**"). The Notes will constitute a further issuance of, and will form a single series with, the Company's outstanding 5.050% Notes due 2035 issued on March 10, 2025 in an initial aggregate principal amount of $600,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;The Notes are being offered and sold as described in the prospectus, dated February 27, 2025, contained in the Registration Statement (No. 333-285319) on Form S-3ASR (the "**Registration Statement**") filed by the Company with the Securities and Exchange

ATLANTA AUSTIN BANGKOK BEIJING BOSTON BRUSSELS CHARLOTTE DALLAS DUBAI HOUSTON

LONDON LOS ANGELES MIAMI NEW YORK RICHMOND SAN FRANCISCO TOKYO TYSONS WASHINGTON, DC

www.HuntonAK.com

![](image_003.jpg)

Board of Directors

CSX Corporation

October 23, 2025

Commission pursuant to the Securities Act of 1933, as amended (the "**Securities Act**"), and the prospectus supplement thereto, dated October 20, 2025 (collectively, the "**Prospectus**").

This opinion letter is being furnished in accordance with the requirements of Item 16 of Form S-3 and Item 601(b)(5)(i) of Regulation S-K.

In connection with this opinion letter, we have examined originals, copies, certified or otherwise identified to our satisfaction, of such documents and records of the Company, certificates of public officials and officers of the Company and such other documents, certificates and records as we have deemed necessary to render the opinions set forth herein, including, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Amended and Restated Articles of Incorporation of the Company, as amended through the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Amended and Restated Bylaws of the Company, as amended through the date hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the resolutions of the Board of Directors (the "Board") of the Company authorizing the registration
and the issuance and sale of the Notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a certificate issued by the State Corporation Commission of the Commonwealth of Virginia (the "State
Corporation Commission") on the date hereof to the effect that the Company is existing under the laws of the Commonwealth of Virginia
and in good standing (the "**Good Standing Certificate** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Registration Statement and the Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the Underwriting Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the Indenture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the form of the Notes.

For purposes of the opinions expressed below, we have assumed: (a) the authenticity of all documents submitted to us as originals; (b) the conformity to authentic original documents of all documents submitted to us as certified, electronic or photostatic copies; (c) the legal capacity of all natural persons; (d) the genuineness of all signatures and the completion of all deliveries not witnessed by us; and (e) the due authorization, execution and delivery of all

![](image_003.jpg)

Board of Directors

CSX Corporation

October 23, 2025

documents by all parties and the validity, binding effect and enforceability of thereof on such parties and (f) the accuracy, completeness and authenticity of all corporate records and other information made available to us by the Company.

As to factual matters, we have relied upon, and assumed the accuracy of, representations included in the documents submitted to us, upon certificates of officers of the Company, and upon certificates and oral advice of public officials, without independent verification of their accuracy.

Based upon the foregoing and such other information and documents as we have considered necessary for the purposes hereof, and subject to the assumptions, qualifications and limitations stated herein, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Based solely on the Good Standing Certificate, the Company has been duly incorporated and is an existing
corporation in good standing under the laws of the Commonwealth of Virginia. The Company has the corporate power to execute
and deliver, and to consummate the transactions contemplated under, the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Company has taken all necessary corporate action required to be taken pursuant to the laws of the
Commonwealth of Virginia to authorize the execution and delivery of the Notes.

We hereby consent to (i) the filing of this opinion letter with the Securities and Exchange Commission as an exhibit to the Company's Current Report on Form 8-K filed on the date hereof, (ii) the incorporation by reference of this opinion letter into the Registration Statement and (iii) the reference to our firm under the caption "Legal Matters" in the Registration Statement and the Prospectus. By giving such consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.

This opinion letter is rendered as of the date hereof, and we disclaim any obligation to advise you of facts, circumstances, events or developments that hereafter may be brought to our attention and that may alter, affect or modify the opinion expressed herein. This opinion letter is expressly limited to the matters set forth above and we render no opinion, whether by implication or otherwise, as to any matters beyond the matters expressly set forth herein.

![](image_003.jpg)

Board of Directors

CSX Corporation

October 23, 2025

---

| |
|:---|
| Very truly yours, |
| <u>/s/ Hunton Andrews Kurth LLP</u> |

---