Table Of Content

FIVE-YEAR PLANS SERVICE AND ASSET LINE PLANS | FY 2021-2026 | AMTRAK.COM FIVE-YEAR PLANS SERVICE AND ASSET LINE PLANS | FY 2021-2026 01 INTRODUCTION Amtrak's FIve-Year Plans 2 02 SERVICE LINE PLANS Introduction 22 Northeast Corridor (NEC) 42 State Supported 54 Long Distance 68 Ancillary Service Line 80 Real Estate & Commercial Service Line 94 infrastructure Access/Reimbursable Service Line 104 03 ASSET LINE PLANS Introduction, Transportation, and NACS 126 Infrastructure Asset Line 150 Equipment Asset Line 180 Stations Asset Line 202 04 FINANCIAL ASSUMPTIONS Account Structure Framework 219 Operating Profit & Loss 234 National Railroad Ridership Projections 240 Passenger Corporation 1 Massachusetts Avenue NW Financial Uses Tables 247 Washington, DC 20001 Amtrak.com AMTRAK'S FIVE-YEAR PLANS 2 AMTRAK FIVE YEAR PLANS | FY 2021–2026 AMTRAK.COM INTRoducTIoN To AMTRAK FIVE YEAR PLANS 3 Introduction CURRENT CONDITIONS As Amtrak finished FY 2019, the company stood in a stronger position than at any time since 1971, a condition that persisted into the first five months of FY 2020. Ridership, revenue, and financial performance were all at record levels. For the first time ever, Amtrak was on track to generate operating revenues that would exceed operating expenses. The company was preparing to take delivery of next generation Acela trainsets for its high-speed NEc service, and had a bold vision to expand train service in new and existing corridors across the country. Amtrak was on an upward trajectory—and then came the coVId-19 pandemic. Amtrak, like all transportation providers, was hit especially hard. In a matter of weeks, Amtrak’s ridership plummeted by 97% and we undertook immediate actions to protect the health and safety of our customers and employees and reduce capacity. The situation stabilized, but at far lower levels of ridership and revenue. Shortly thereafter, Congress passed the CARES Act, which provided $1.02 billion in vital emergency funding for the benefit of Amtrak and our State Partners designed to minimize the negative financial impacts of COVID-19 during FY 2020. Unfortunately, recovery has been slow, and our ridership and revenue are still just 20% of last year’s levels. It has become increasingly clear that the pandemic’s impacts will extend through, and almost certainly beyond, FY 2021. Amtrak’s response to COVID-19 thus far has focused on ensuring our customers and employees are safe and healthy, and taking steps to manage the loss of revenue. These steps have included adjustments in our workforce and train service to reflect the pandemic’s impacts on our ridership and financial resources. It is important to set a post-pandemic course and a future vision for Amtrak and intercity passenger rail for the future. These five-year plans outline a potential course and that vision. 4 AMTRAK FIVE-YEAR PLANS | FY 2021–2026 AMTRAK.COM AMTRAK’S FUTURE COVID-19 has not changed the fundamental economics on our State Supported routes and new intercity corridors, of intercity passenger rail. It is still the most efficient where we see our greatest opportunities to meaningfully and the most environmentally responsible way to serve address the carbon crisis and enhance mobility as our the transportation need of the growing megaregions population continues to grow; and in the small towns where the population continues to concentrate. The throughout rural America where our long distance trains need to address highway congestion has not vanished, help connect our riders to their family and friends. In the and the constraints that make the addition of highway meantime, we are committed to working through this capacity expensive and difficult have not vanished. In crisis with all stakeholders to best manage the near-term fact, highway congestion has already begun to return as challenges, while protecting the future we all want for travelers resume driving between cities and avoid air and intercity passenger service in the next 50 years. transit travel due to social distancing concerns. Even with those concerns, COVID-19 has not reduced the requests Our Service and Asset Line Plans summarize the Amtrak receives from communities and elected officials opportunities and needs facing the company and our across the country for service in corridors and regions strategies for the next five years, and fulfill the statutory we do not serve today. Finally, COVID-19’s impacts on requirements set forth in section 11203 of the Fixing employment have reinforced the need for many additional America’s Surface Transportation (FAST) Act. These plans, good, living wage jobs for skilled employees of the kind provided by Amtrak and the companies from which we updated annually, inform our General and Legislative buy equipment, goods, and services. Annual Report, required by 49 U.S.C. § 24315(b) which serves as our budget request and justification to Congress. We want to be ready to provide for the passenger rail They represent our view of our business and services over service America needs as the country returns to normal— the next five years, assuming the current policies and along the Northeast Corridor where the much-anticipated funding levels established under the FAST Act continue replacement of the Acela fleet will begin later this year; beyond its FY 2020 expiration. INTRoducTIoN To AMTRAK FIVE YEAR PLANS 5 About Our Business Amtrak is the nation’s federally chartered We also provide commuter and freight railroads access to key infrastructure we own or control, such as right-of-way, intercity passenger rail operator and stations and facilities. Additionally, we conduct ancillary infrastructure provider. With safety as our activities such as real estate and commercial development highest priority, we aim to provide efficient and serve as a contract operator for commuter train services to generate net revenue that can be used to advance our and effective transportation consisting of statutory goals. We also perform reimbursable work for third friendly, high-quality service that is trip-time parties such as other railroads, local and state governments competitive with other intercity travel options. and others that takes place on Amtrak property or requires our unique expertise. We provide intercity passenger train services Reliable, frequent intercity passenger rail service is an through our three operating service lines: Northeast essential and growing part of our nation’s multimodal Corridor, which operates Amtrak’s high-speed Acela transportation system. In markets with substantial service and Northeast Regional trains between Boston levels, such as the Northeast Corridor, California, the Pacific and Washington; State Supported, which provides Northwest and the Midwest, Amtrak enhances business service on corridor routes of not more than 750 productivity and supports the nation’s long-term economic miles through cost-sharing agreements with State growth and global competitiveness. Elsewhere, our long- Partners; and Long Distance, which includes all distance and State Supported routes connect hundreds of routes over 750 miles nationwide, and receives smaller communities with major metropolitan areas and funding support from the federal government. provide a unique journey opportunity for leisure travelers. Amtrak Network Service Lines 6 AMTRAK FIVE-YEAR PLANS | FY 2021–2026 AMTRAK.COM FY 2020 RESULTS & ACCOMPLISHMENTS Prior to the pandemic, and with strong support from our partners, Amtrak set new records for ridership, revenue, and financial performance and was on track to generate annual operating revenues that exceeded operating costs for the first time in its history. over the next few weeks, ridership on our trains plummeted by 97%. only a small proportion of our pre-coVId-19 customer base has resumed traveling. Amtrak’s revenue from ticket sales was $1.266 billion in FY 2020, which is only 55% of what it was in FY 2019. The vast majority of that revenue was earned during the first five months of FY 2020 before coVId-19 decimated our ridership. To align our offerings with the depressed demand for service, manage our financial losses, and continue to make investments in capital projects for the long term good of our service, we made several cost-cutting decisions: • We reduced service frequency and train capacity on the NEC, and on our State Supported routes in partnership with our 20 State Partners. • We deferred and/or restructured $600 million in capital projects. • We dramatically reduced overtime and took action to minimize the number of employees who worked more hours than labor agreements guarantee. • We offered voluntary unpaid time off to our employees. • Several of our unions agreed to defer previously negotiated wage increases, for which we were grateful. • The 401k match for our non-agreement employees was suspended, and their pay was reduced 7–22% based on a tiered system, for the remainder of FY 2020. • Implemented a Voluntary Separation Incentive Program (VSIP) to minimize the number involuntary separations and furloughs necessary. Amtrak has worked steadily over the past fiscal year to prioritize customer safety and advance infrastructure and fast-track technology improvements even as the The success of Amtrak's ongoing pandemic caused a devastating drop in ridership COVID-19 recovery measures and revenue. Amtrak quickly pivoted to handle this unprecedented challenge and ensure customers and is an ongoing effort that employees remained healthy, while also continuing to involves every employee. focus on improving intercity passenger rail for the future. INTRoducTIoN To AMTRAK FIVE YEAR PLANS 7 Moynihan Train Hall at New York Penn Station opened on January 1, 2021. FY 2020 HIGHLIGHTS Safety. Continued advancement of the comprehensive Stations. The final stages of construction on the Amtrak Safety Management System, resulting in Moynihan Train Hall at New York Penn Station, one of the improvements in a broad range of safety metrics. most significant station facility enhancements in Amtrak’s Completed PTC implementation on all Amtrak-owned 50-year history, were completed, and the Train Hall and controlled track. opened its doors to passengers on January 1, 2021. Diversity & Inclusion. Implemented initiatives to We also began refreshing major stations across the improve diversity, inclusion and belonging. We hosted country. In the Northeast this included: upgrading listening sessions with employees, created a Diversity the ticketed waiting area at New York Penn Station; & Inclusion Council, made significant changes to our advancing the New York Penn Master Plan and Expansion hiring practices, offered “unconscious bias” training to projects to add more tracks and platforms to the existing all employees, and strengthened our relationships with station; a major construction project that will increase external organizations that support diversity rail capacity at Washington Union Station; selecting and inclusion. a team with international expertise to form a master development partnership via ground lease for the Equipment. Advanced testing on the new Acela trainsets; renovation of William H. Gray III 30th Street Station, took actions to meet regulatory requirements for placing and collaborating with New Jersey Gov. Murphy and NJ them in service; made improvements in infrastructure and TRANSIT on construction work at four New Jersey train in the facilities where the trainsets will be maintained stations: New Brunswick, Trenton Transit Center, Princeton to prepare for their operation, and developed employee Junction, and Elizabeth Stations. training programs so that our flagship service’s next generation trains can begin carrying customers by the end Significant station projects on State Supported routes of 2021. Our State Partners in the Midwest and California included improvements to accessibility and safety in have started accepting new railcars that customers Ashland, VA and the new Exchange Street Station in will ride in 2021, with touchless features and updated Buffalo, which opened for service in November 2020. amenities, including more space for bicycles. 8 AMTRAK FIVE-YEAR PLANS | FY 2021–2026