Canadian Pacific Announces Multi-Year Contract Extension with Canadian Tire Corporation

Canadian Pacific (“CP”) and Canadian Tire Corporation Limited (“CTC”) announced a multi-year agreement to continue moving the retailer’s goods in Canada.

“CP is proud to continue our near-century-long commercial relationship with Canadian Tire, another iconic Canadian brand,” said Keith Creel, CP President and Chief Executive Officer. “As the single largest container importer in Canada, CTC will benefit from CP’s leading service, reliability and network capacity across Canada.”

To support the efficient movement of CTC’s goods and reduce carbon emissions, CP will begin directly serving Ashcroft Terminal in Ashcroft, B.C., reducing the need to shift volumes to truck.

“CP has been one of our most trusted and long-standing partners, and played an important role in the Company’s early growth. As we embark on our 100th year in business, we are pleased to continue working together with CP to ensure our products move efficiently across the country to meet our customers’ needs,” said Greg Hicks, Canadian Tire Corporation President and Chief Executive Officer. “Our commitment to operate as a sustainable Canadian brand aligns to CP’s efforts to reduce greenhouse gas emissions by creating efficiencies in the supply chain, and we look forward to collaborating on further initiatives to reduce carbon emissions in Canada.”

The agreement builds on the more than 90 years of shared successes the companies have had efficiently servicing CTC’s dealer and corporate stores. Furthermore, it establishes the ability for CTC to explore sourcing and optionality opportunities with CP’s extensive network reach.

About Canadian Pacific

Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP.

About Canadian Tire Corporation

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or “CTC”, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands. The more than 1,700 retail and gasoline outlets are supported and strengthened by CTC’s Financial Services division and the tens of thousands of people employed across Canada and around the world by CTC and its local dealers, franchisees and petroleum retailers. In addition, CTC owns and operates Helly Hansen, a leading technical outdoor brand based in Oslo, Norway. For more information, visit Corp.CanadianTire.ca.

Source: Canadian Pacific Railway Limited