Canadian Pacific and TCRC-T&E Reach Agreement to Enter Into Binding Arbitration and Return to Work Tuesday

Canadian Pacific Railway Limited (“CP”) today announced that it has reached agreement with the Teamsters Canada Rail Conference (“TCRC”) – Train and Engine Negotiating Committee to enter into binding arbitration.

“CP is pleased to have reached agreement with the TCRC Negotiating Committee to enter into binding arbitration and end this work stoppage,” said CP President and CEO Keith Creel. “This agreement enables us to return to work effective noon Tuesday local time to resume our essential services for our customers and the North American supply chain.”

CP wishes to thank the Canadian Federal Conciliation and Mediation Services for its critical work during this negotiation.

CP will immediately begin working with customers to resume normal train operations across Canada as soon as possible.

TCRC represents approximately 3,000 locomotive engineers, conductors, train and yard workers across Canada.

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. CP-IR

Contact:

Chris De Bruyn – Managing Director Investor Relations – investor@cpr.ca – (403) 319-3591

Source: Canadian Pacific Railway Limited