CPKC Disappointed by TCRC’s Decision to Dispute Minister’s Direction to Resume Railway Operations

Canadian Pacific Kansas City (CPKC) said, following the direction issued by the Canadian Minister of Labour pursuant to section 107 of the Canada Labour Code, the Canada Industrial Relations Board (CIRB) convened an urgent case management conference with CPKC at 9:00 p.m. ET tonight. CPKC was prepared to fully address the resumption of service given its obvious priority.

Unfortunately, the Teamsters Canada Rail Conference (TCRC) representing the Train and Engine division and Rail Canada Traffic Controller division refused to discuss any resumption of service, and instead indicated that they wish to make submissions to challenge the constitutionality of the Minister’s direction, as well as the CIRB’s discretion to proceed with any order. Another case management conference is now scheduled for 10:00 a.m. ET, tomorrow, Friday, Aug. 23 to further hear submissions by the parties.

While the Minister directed that the CIRB proceed expeditiously, any decision by the CIRB on the resumption of service will be delayed. CPKC remains prepared to resume service as soon as it is ordered to do so by the CIRB.

CPKC is disappointed by this delay, which will affect our ability to resume serving the Canadian economy.

About CPKC

Canadian Pacific Kansas City Limited (“CPKC” or the “Company”) owns and operates a transcontinental freight railway spanning Canada, the United States (“U.S.”), and Mexico. CPKC provides rail and intermodal transportation services over a network of approximately 20,000 miles, serving principal business centres across Canada, the U.S., and Mexico. The Company transports bulk commodities, merchandise, and intermodal freight. CPKC’s Common Shares trade on the Toronto Stock Exchange and New York Stock Exchange under the symbol “CP”.

Contact:

Chris de Bruyn – Investor Relations – investor@cpkcr.com – (403) 319-3591

Source: Canadian Pacific Kansas City Limited